NEW YORK, NY – AUGUST 25: A sign hangs on a Tim Horton's cafe in Manhattan on August 25, 2014 in New York City. It has been confirmed that American fast food giant Burger King is in discussions for a possible take-over of Canadian coffee and cafe chain Tim Horton's. Shares of Tim H…Read More >
French president François Hollande took the biggest gamble of his two-year-old presidency on Monday by ordering his reformist prime minister to form a new government which will exclude Socialist dissidents demanding an end to economic austerity policies dictated by Germany.Read More >
The American fast food chain Burger King is in talks with the Canadian quick-service restaurant Tim Hortons about a potential merger, and the resulting company reportedly might be based in Canada. Though American politicians may object to the possibility of tax revenue escaping north of the border, Canadian fans say they may accept a merger if Burger King stays away from Tim Hortons’ steeped tea and honey cruller doughnut. On Sunday, the two companies issued statements saying they were in discussions and that a new publicly listed company would be headquartered in Canada, which would be the largest market of the combined company. The Canadian side of the combination would have more stores and more assets than those in the U.S. if the companies merged. Ian Harding, 37, of Toronto, who goes to Tim Hortons about three times daily and founded the fan site InsideTimmies.com, said his acquaintances are venting on Twitter about unhappy feelings over the potential merger involving the brand they often affectionately call Timmie’s or Tim’s. “More people were writing, ‘Please no’ and ‘Save Timmie’s,’ Harding said. “From a Canadian perspective, Tim Hortons, the brand itself, is deeply in our Canadian culture. If you go on a road trip, you go to Timmie’s. If you go on vacation, you go Timmie’s.” So @BurgerKing want to buy @TimHortons – perfect opportunity for an American company to ruin a Canadian institution… #SadTimes Burger King taking over Tim Hortons and becoming Canadian for tax purposes is interesting in that it equally humiliates Canada *and* America Harding, an advertising professional, launched his fan site in 2012. The site, which he said had about 100,000 visitors last month, is not affiliated with Tim Hortons. When Sears Was a Retail Star, Not Losing $1B in Six Months Bourbon Industry in Largest Expansion Since End of Prohibition Harding said he can’t remember the last time he frequented a Burger King restaurant. “Burger King has a good reputation in Canada, but Tim Hortons far exceeds it, which is why Canadians are very loyal to it. They feel it’s part of their culture,” he said. When asked if Tim Hortons might experience a business backlash from customers, he said, “I’m not too sure if Canadians would boycott. It’s just not in our blood to do it.” Harding said he would come to terms with the combined company if the two brands remain distinct businesses. In a joint statement, the companies said that should discussions progress, Tim Hortons and Burger King “would operate as standalone brands, while benefiting from shared corporate services, best practices and global scale and reach.” “When I first read about the news, I thought, ‘No way,’ because I’m a big fan and I was shocked,” he said of the potential merger. “Tim Hortons went down this route before when they merged with Wendy’s and that didn’t turn out very well.” In 1995, American fast food chain Wendy’s bought Tim Hortons. Harding recalled many Tim Hortons purists were not thrilled with the addition of more food items instead of the coffee and doughnuts for which the chain is famous. But Harding said he felt neutral or positive because the chain stayed mostly true to its Canadian roots with its coffee, steeped tea and doughnuts. In March 2006, Tim Hortons went public through the New York Stock Exchange and spun off as a separate company in September of that year. By 2009, Tim Hortons filed documents to return its corporate headquarters north of the border.Read More >
A pedestrian walks by a Burger King restaurant in San Francisco.Read More >
Love is in the air this bright Monday morning, and it smells like Whoppers and coffee: Burger King and Canadian coffee chain Tim Hortons have confirmed that they’re courting the idea of a merger, sending pulses racing, hearts soaring and the stock market into palpitations. Ah, young merger-related love.Read More >
Moody’s Investors Service has downgraded Western Australia’s credit rating, in yet another blow to the state’s budget woes.
Claims that Australia will run out of money if budget measures aren’t passed have been dismissed as “ill-judged rhetoric” by the shadow treasurer, Chris Bowen. His comments come after agriculture minister Barnaby Joyce said Australia will be unable to defend itself and will have to close hospitals in 10 to 15 years.