When it comes to tipping waiters, 15% no longer...
The once-booming sandwich chain Quiznos is stumbling two years into a major turnaround effort, prompting the company to seek concessions from creditors owed nearly $600 million. The Denver-based chain, known formally as QIP Holder LLC, has struggled with store closures and tension with franchisees. Those talks have led to a forbearance agreement with the creditors designed to give Quiznos more time to hash out a deal, Quiznos Chief Executive Stuart Mathis said in a memo Wednesday to franchisees that was reviewed by The Wall Street Journal. A person familiar with the matter said the agreement allows Quiznos to maintain its liquidity as negotiations with lenders progress.
About 80% of Americans eat fast food at least...
Nonfarm payrolls increased by 203,000 jobs last month, following a similarly robust rise in October, the Labor Department said on Friday. The report, which showed broad gains in employment and a rise in hourly earnings, suggested strength in the economy heading into year-end. "It will add further confidence to the Fed of a reduced need for monetary stimulus in the U.S. economy. The unemployment rate dropped three tenths of a percentage point to its lowest level since November 2008 as some federal employees who were counted as jobless in October returned to work after a 16-day partial shutdown of the government.
Retail stores are quickly adapting to modern...
By Cameron French TORONTO (Reuters) - Bank of Nova Scotia reported a 12 percent rise in quarterly profit due to its acquisition last year of online bank ING Direct, but results were marred by a sluggish performance at its international unit. Shares of Scotiabank, Canada's No. 3 lender, were up 0.7 percent at mid-morning, slightly underperforming most of its Canadian peers. "I thought it was a pretty good quarter for domestic banking, but (there was) weakness in international, which really drives the story at Scotia," said Tom Lewandowski, a bank analyst at St. Louise-based Edward Jones. Income from Scotiabank's international banking division, which includes a presence throughout Latin America and parts of Asia, rose 3 percent to C$467 million ($438.64 million), held back by narrowing interest margins and an 18 percent rise in loan-loss provisions.