Business

Yahoo salvages Verizon deal with $350M US discount

​Yahoo is taking a $350 million US hit on its previously announced $4.8 billion US sale to Verizon in a concession for security lapses that exposed personal information stored in more than 1 billion Yahoo user accounts. The revised agreement, announced Tuesday, eases investor worries that Verizon Communications Inc. would demand a discount of at least $1 billion US or ...

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Macy’s profit falls nearly 13 per cent

Macy’s, the largest department store chain in the United States, says its earnings for the quarter that includes the holiday period dropped nearly 13 per cent as results were dragged down by store closures and other costs. The company has faced sluggish sales for the past two years as customers buy more online and less at the malls where Macy’s ...

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McDonald’s rolls out all-day breakfast across Canada today

McDonald’s previously announced plan to offer all-day breakfast starts today, with more than 1,100 locations across Canada serving foods such as hash browns and breakfast sandwiches until closing.

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January inflation reading expected to creep higher

Economists are expecting an increase in January’s Canadian inflation rate later this week, and for figures to show that retail sales ended 2016 on a mixed note. The report on the consumer price index will come Friday, two days after Statistics Canada reports on December retail activity. The consensus forecast of economists is that the year-end retail sales report will show a 0.2 ...

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Loblaw resets passwords after security breach of its loyalty program

Loblaw has reset passwords for all its PC Plus rewards collectors’ online accounts after points were stolen from some members’ accounts. The company posted a warning on its website saying it requires all members to create new passwords — regardless of whether or not they changed them following the recent security breach. Earlier this month, Loblaw urged members to create ...

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Tim Hortons and Burger King owner, Restaurant Brands, nears deal to buy Popeyes: report

Restaurant Brands International Inc. , owner of the Burger King and Tim Hortons fast-food chains, is nearing a deal to acquire Popeyes Louisiana Kitchen Inc., people familiar with the matter said on Monday. The deal, which will likely value Popeyes at more than $1.7 billion US, is a bet by Oakville, Ont,-based Restaurant Brands that it can use its international ...

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Former Canadian union leader Bob White dies

Bob White, the Canadian labour leader who led the Canadian Auto Workers union’s split from its American counterpart, has died at the age of 81. Unifor, the union which now encompasses the Canadian Auto Workers, tweeted that White was “a great union leader.” “We are here thanks to his work and vision,” said the tweet. Today we mourn the loss of ...

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Unilever shares tumble as Kraft Heinz drops takeover bid

Kraft Heinz Co.’s rapid retreat from its surprise $143 billion US bid for Unilever in the face of stiff resistance knocked the Anglo-Dutch company’s shares on Monday as investors assessed the impact of the failed approach. Kraft, which is backed by Warren Buffett and the private equity firm 3G, wanted to buy Unilever as part of its strategy to become ...

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Uber to investigate sexual harassment claim by engineer

​Uber’s chief executive ordered an urgent investigation Monday into a sexual harassment claim made by a female engineer who alleged her prospects at the company evaporated after she complained about advances from her boss. Travis Kalanick responded on Twitter to an open statement by Susan Fowler Rigetti about her year at the ride-hailing app. In a blog post titled “Reflecting ...

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