Burger King plans expansion of Tim Hortons
The fight for the coffee and breakfast crowd is heating up, both at home and abroad.
Burger King said Tuesday it will buy Tim Hortons in an $11 billion deal that would create the world’s third largest fast-food chain. The company is hoping to turn the coffee-and-doughnut chain into a household name outside Canada, and give itself a stronger foothold in the booming morning business.
Alex Behring, Burger King’s executive chairman, said the new company would be one of the fastest-growing fast-food chains in the world.
The international ambitions for Tim Hortons echo the strategy Burger King’s owner, 3G Capital, has applied to Burger King since buying the hamburger chain in 2010. Given Burger King’s struggles in the U.S., the investment firm has focused on opening more locations in countries including China and Russia by striking deals with local franchisees.
FORT WORTH, Texas
American, US Airways will stop listing on Orbitz
American Airlines and US Airways are pulling flight listings from Orbitz-run websites in a dispute over fees that the travel company charges to list and sell the flights.
Shares of Orbitz Worldwide Inc. fell nearly 5 percent on Tuesday.
American said that it had already dropped its fares from Orbitz and that US Airways listings would be pulled on Monday.
Corporate customers of the airlines will still be able to book travel through Orbitz, but individuals will have to go to the airlines’ websites or other travel agents, including online rivals of Orbitz such as Expedia Inc.
American’s withdrawal extends to Orbitz’s other websites, such as CheapTickets and European-based ebookers.com. However, those sites were still selling seats on American flights that were listed by American’s so-called code-sharing partners, including British Airways and Japan Airlines.
Because of that quirk, and the fact that corporate travel will be unaffected, the impact of American’s decision is likely to be felt mostly by Orbitz customers booking leisure travel within the U.S.