FINWIRES · TerminalLIVE
FINWIRES

Market Chatter: Tim Hortons Shutting Down Credit Card Program

By

Restaurant Brands International (QSR.TO) unit Tim Hortons is shutting down the credit card program it launched three years ago, Canadian Press reports.

The company said in an emailed update to customers that the program, powered by Neo Financial, will shut down Oct. 1. The Tims Financial website said it is not applications at this time.

While the cards will still work after Oct. 1, they will be managed by Neo Financial and transactions will not earn Tims Rewards Points, the Canadian Press report said.

Restaurant Brand shares were last seen up $2.44, to $101.47, on the Toronto Stock Exchange.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: $101.64, Change: $+2.61, Percent Change: +2.64%

Related Articles

Mining & Metals

Shopify Board Approves Expanding Share Repurchase Program to US$5 Billion

Shopify (SHOP.TO, SHOP) rose 1.1$ in after-hours Nasdaq trading after the company on Tuesday said its board approved an additional US$3 billion share buyback authorization, increasing the company's total repurchase program to US$5 billion.As of June 1, Shopify had already repurchased about US$1.45 billion worth of shares under its existing authorization, according to the statement."Consistent operating cash flow, a balance sheet built for the long-term, and strong results quarter after quarter - these give us the ability to prioritize building products that drive merchant success while also returning capital to shareholders, especially during periods of market volatility, Chief Financial Officer Jeff Hoffmeister said.The company said it will continue buying back shares through pre-arranged trading programs and may make purchases in the open market or through private transactions. Shopify added that the program does not require it to repurchase a specific number of shares and can be changed, suspended, or ended at any time.The company's shares were last seen up US$1.30 to US$117.01 after hours. They closed down C$9.72 to C$161.95 on the Toronto Stock Exchange.

$SHOP$SHOP.TO
Mining & Metals

Imperial Equities Brief: Acquires a 4.55-Acre Industrial Parcel in West Edmonton for $3.4 Million

$IEI.V
Mining & Metals

Osisko Development Plans to Change its Name to Osisko Gold Group. Shareholders to Vote on the Change at Its June 23 AGM

$ODV$ODV.V