Tim Hortons’ comeback takes hold as coffee chain forecasts another year of Canadian same-store sales growth

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Tim Hortons' comeback takes hold as coffee chain forecasts another year of Canadian same-store sales growth

[ad_1] Restaurant Brand International restaurants’ Tim Hortons and Popeyes. Randy Risling | Toronto Star | Getty Images Tim Hortons is anticipating Canadian same-store sales growth in the mid-to-high single digits in 2022 as the coffee chain’s turnaround takes hold in its home market. The Restaurant Brands International chain also said Tuesday during an investor presentation … Read more

Starbucks suspends its outlook as Covid lockdowns hammer sales in China

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Starbucks suspends its outlook as Covid lockdowns hammer sales in China

[ad_1] Starbucks on Tuesday suspended its outlook for fiscal 2022 as Covid lockdowns in China weighed on international sales. Still, strong demand in the U.S. offset sharp declines from China, helping the company’s quarterly revenue top Wall Street’s estimates. Shares rose 5% on the report in extended trading. Here’s what the company reported compared with … Read more

Ford reports smaller sales decline in April while chip shortage weighs on supply

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Ford reports smaller sales decline in April while chip shortage weighs on supply

[ad_1] Ford F-150 Lightning pickup trucks sit on the production line at the Ford Rouge Electric Vehicle Center on April 26, 2022 in Dearborn, Michigan. Bill Pugliano | Getty Images DETROIT – Ford Motor on Wednesday reported a 10.5% decline in April sales compared to a year ago, notably narrowing its losses compared to recent … Read more

World’s second-largest hydropower plant set for 14-year upgrade after deal with GE

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World’s second-largest hydropower plant set for 14-year upgrade after deal with GE

[ad_1] Straddling the border between Brazil and Paraguay, Itaipu commenced electricity production in 1984. The technological upgrades being planned for the site are set to take 14 years. Tifonimages | Istock | Getty Images GE Renewable Energy has signed a deal that will see it carry out upgrades to the 14 gigawatt Itaipu hydropower plant, a … Read more

Fed raises rates by half a percentage point — the biggest hike in two decades — to fight inflation

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Fed raises rates by half a percentage point — the biggest hike in two decades — to fight inflation

[ad_1] WASHINGTON — The Federal Reserve on Wednesday raised its benchmark interest rate by half a percentage point, the most aggressive step yet in its fight against a 40-year high in inflation. “Inflation is much too high and we understand the hardship it is causing. We’re moving expeditiously to bring it back down,” Fed Chairman … Read more

Spirit CEO says he wonders whether JetBlue’s bid was meant to block Frontier deal

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Spirit CEO says he wonders whether JetBlue's bid was meant to block Frontier deal

[ad_1] A JetBlue airliner lands past a Spirit Airlines jet on taxi way at Fort Lauderdale Hollywood International Airport on Monday, April 25, 2022. (Joe Cavaretta/Sun Sentinel/Tribune News Service via Getty Images) Joe Cavaretta | Sun Sentinel | Getty Images Spirit Airlines CEO Ted Christie on Thursday laid bare the reasons his company rejected JetBlue … Read more

Worker output fell 7.5% in the first quarter, the biggest decline since 1947

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Worker output fell 7.5% in the first quarter

[ad_1] People work at the Rivian Automotive electric vehicle factory in Normal, Illinois, April 11, 2022. Kamil Krzaczynski | Reuters Worker productivity fell to start 2022 at its fastest pace in nearly 75 years while labor costs soared as the U.S. struggled with surging Covid cases, the Bureau of Labor Statistics reported Thursday. Nonfarm productivity, … Read more