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Canada coffee chain Tim Hortons to open 1,500 stores in China
by Staff Writers
Montreal (AFP) July 11, 2018

Canadian coffee shop chain Tim Hortons announced Wednesday it will open more than 1,500 branches in China over the next decade.

"China's population and vibrant economy represent an excellent growth opportunity for Tim Hortons in the coming years," said Alex Macedo, president of the company known for its coffee and donuts.

"We have already seen Canada's Chinese community embrace Tim Hortons and we now have the opportunity to bring the best of our Canadian brand to China," his statement said.

Burger King bought the chain in 2014 for CAN$12.5 billion (US$11.4 billion), and Tim Hortons now boasts 4,700 locations worldwide, mostly in Canada and the United States.

The chain -- named after its creator, former professional ice hockey player Tim Horton -- has become a staple along Canada's roadways since opening its first counter in 1964 in Hamilton, Ontario.

The company came under fire earlier this year when some franchise owners reduced employee breaks to compensate for Ontario's rising minimum wage.

Silence from the company's headquarters sparked calls to boycott the restaurant, causing its popularity among Canadians to drop in polls.


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TRADE WARS
Shippers respond to U.S. steel needs in the face of tariffs
Washington (UPI) Jul 11, 2018
Shippers are committed to servicing U.S. demand for steel, including niche pipeline supplies, though it depends on price, a Baltic maritime association said. "The global shipping industry is ready to service the U.S. demand for steel, be it pipelines or any other product," Peter Sand, the chief shipping analyst for international shipping association BIMCO, told UPI. The U.S. Commerce Department in January concluded the amount of aluminum and steel imports threatened U.S. national securit ... read more

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