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World Business

Caffeine withdrawal: Tim Hortons shutters some restaurants in New York and Maine

TORONTO — Turns out not everyone has time for Tim Hortons, especially in the United States.

The coffee and doughnut chain took surprise measures this week when it pulled the plug on some restaurants in New York and Maine as part of a performance review. READ

Trudeau tries to bring Canada back to Asia at APEC summit in Manila

Prime Minister Justin Trudeau arrived in Manila on Tuesday night, with two vexing economic challenges waiting for him at the second major international summit of his first foreign trip. READ

Canada side deal with U.S. on illicit trade emerges with release of TPP text

Canada has signed almost two dozen side letters with its trading partners in the Trans-Pacific Partnership, including an agreement with the United States to combat illicit trade. READ

TransCanada denies politics at play in request to suspend Keystone XL review

The company behind the long-delayed Keystone XL pipeline denies the 2016 U.S. presidential election was a factor when it asked for the review of the project to be suspended. READ

Greek government asks for 3-year aid program, races to submit suitable reforms proposal

Greece requested a new three-year rescue program from its European partners on Wednesday and rushed to complete a detailed plan of economic reforms in time to avoid the country’s descent into financial chaos. READ

Former ambassador not confident Keystone will be approved

MONTREAL — A former Canadian ambassador says he’s less confident now than he was a few years ago about the U.S. giving the Keystone XL pipeline project the green light. READ

German town which once drew neo-Nazi marches now welcomes jobless foreigners

A small town in Germany that once was a pilgrimage site for neo-Nazis is now welcoming jobless foreigners with open arms. READ

European finance minister buoy Greece, talk ceding budget sovereignty

Eurozone ministers threw a lifeline to Greece on Tuesday as they scrambled to prevent financial chaos from spreading further and driving Europe’s common euro currency into a catastrophic breakup. READ

Chinese manufacturing shrank the most since March 2009 in November: HSBC report

Concerns about a hard landing for the Chinese economy grew Wednesday after the latest read on the country’s manufacturing sector for November found it shrank to its lowest level since March 2009. READ

Greek leader backs country’s fiscal targets

In an abrupt U-turn, Greece’s conservative junior coalition leader has written to international creditors telling them he backed the country’s fiscal targets, clearing a major sticking point to get a desperately needed loan that will prevent a devastating Greek bankruptcy. READ

Europe’s market turmoil spreads

Fear, that contagious emotion, spread from country to country in Europe on Thursday as panicky investors worried the euro currency union could be heading toward an ugly breakup. READ

Italy’s new government passes first confidence vote

Italy’s new technocratic government has won a crucial confidence vote in the Senate to pursue widespread reforms and austerity aimed at staving off the sovereign debt crisis and saving the euro currency. READ

No politicians in Monti’s new Italian government

Premier Mario Monti formed a new Italian government without a single politician Wednesday, drawing from the ranks of bankers, diplomats and business executives to create a team to steer Italy away from financial disaster. READ

Get your fiscal house in order, Flaherty tells U.S. in speech

NEW YORK — It’s not often a Canadian politician goes to the United States to offer advice publicly, but Finance Minister Jim Flaherty did just that Wednesday, telling a U.S. business audience that Washington needs to get its fiscal house in order. READ

Irish government faces likely ouster, banks fall

DUBLIN, Ireland — The Irish government stood on the brink of collapse Monday, a day after being forced to accept a massive bailout from the European Union and the International Monetary Fund. READ

Greece debt crisis spreads, Spain faltering

BERLIN — Europe’s debt crisis has spread its contagion to another country as a major agency downgraded Spain’s credit rating, even as Germany grudgingly moved closer to bailing out Greece from imminent collapse. READ

Chavez threatens to nationalize gold mining

President Hugo Chavez threatened on Sunday to nationalize gold mining concessions in Venezuela, accusing mining companies of damaging the environment and violating workers’ rights. READ

Pressure on Greek finances intensifies

ATHENS — Greece’s borrowing costs spiked to a record high Thursday, intensifying the country’s debt crisis and suggesting a eurozone and International Monetary Fund rescue plan is providing little support for Athens’ struggle to avoid default. READ

G7 wants banks held accountable

IQALUIT, Nunavut — The Group of Seven finance ministers emerged from a two-day meeting in the Far North saying they are determined to make financial institutions bear the cost of crises they cause. READ

TV makers bet on 3-D

LAS VEGAS — This is supposedly the year 3-D television becomes the hot new thing: Updated sets and disc players are coming out, and 3-D cable channels are in the works. But it’s not clear the idea will reach out and grab mainstream viewers. READ

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