Today’s news: Trending business stories for February 15, 2024

The latest business news as it happens

Published Feb 15, 2024  •  Last updated 4 days ago  •  8 minute read

Cups of coffee on the counter at a Tim Hortons outlet in Oakville, Ont. Photo by Chris Young/The Canadian Press files

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RBI expects to have 40,000 restaurants, $60 billion in sales by 2028

Restaurant Brands International Inc. says it expects its quick-serve empire to span 40,000 restaurants and achieve a collective US$60 billion in sales by 2028.

The Tim Hortons, Burger King, Popeyes Louisiana Kitchen and Firehouse Subs owner has about 30,000 restaurants these days and in its most recent financial year saw US$42.8 billion in system-wide sales.

Speaking at an investor day event in New York today, RBI executives said they expect the company’s adjusted operating income to hit $3.2 billion by 2028, up

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Today’s news: Trending business stories for January 11, 2024

The latest business news as it happens

Published Jan 11, 2024  •  Last updated 3 days ago  •  11 minute read

A Hertz office in San Francisco. The company is planning to sell one-third of its EVs in the U.S. Photo by Justin Sullivan/Getty Images

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Hertz to sell 20,000 EVs in shift back to gas-powered cars

Hertz Global Holdings Inc. plans to sell a third of its United States electric vehicle fleet and reinvest in gas-powered cars due to weak demand for the battery-powered options.

The sales of 20,000 EVs began last month and will continue over the course of 2024, the rental giant said Thursday in a regulatory filing. Hertz expects to record a non-cash charge in its fourth-quarter results of US$245 million related to incremental net depreciation expense.

“The company expects to reinvest a portion of the proceeds from the sale of EVs into

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Today’s news: Trending business stories for November 6, 2023

The latest business news as it happens

Published Nov 06, 2023  •  Last updated 1 day ago  •  21 minute read

Canada’s corporate ethics czar says it’s launching a fact-finding investigation into allegations that Zara Canada Inc. is working with companies that use forced labour in China. People tour by a ZARA flagship store at a shopping mall in Beijing, Wednesday, June 21, 2023. THE CANADIAN PRESS/AP- Photo by Andy Wong/The Canadian Press/AP files

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5:00 p.m.

Market close: Energy weakness weighs on TSX as U.S. stock markets rise

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Weakness in energy stocks weighed on Canada’s main stock index today, while U.S. markets edged higher to start off the week.

The S&P/TSX composite index closed down 80.91 points at 19,743.94.

In New York, the Dow Jones industrial average was up 34.54 points at 34,095.86. The S&P 500 index was up 7.64 points at 4,365.98, while the Nasdaq composite

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Today’s news: Trending business stories for October 23, 2023

The latest business news as it happens

Published Oct 23, 2023  •  Last updated 28 minutes ago  •  12 minute read

Canadians are becoming less optimistic about their financial health and their wealth. Photo by Peter J. Thompson/Financial Post

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1:21 p.m.

Report calls for national water management plan for Canada’s agri-food sector

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A farmer holds a canola plant that has been stricken by drought on a grain farm near Osler, Sask., 2021.
A farmer holds a canola plant that has been stricken by drought on a grain farm near Osler, Sask., 2021. Photo by Kayle Neis/Bloomberg files

The Canadian Agri-Food Policy Institute is recommending that governments across the country develop a national plan to sustainably manage and use water for the agri-food sector.

In a report released Monday, the institute called for ambitious commitments from governments and partnerships with stakeholders to prioritize the critical natural resource.

“Water is a strategic asset for Canada, and an increasingly critical and important one,” said Tyler McCann, CAPI managing director and

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