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Business

Economy biting into McDonald's

McDonald's reported flat sales in July at established restaurants around the world, its worst performance in more than nine years and a signal that a weakening global economy is taking a bite out of mainstream diners' discretionary spending.

Golf losing its grip on tourism market

Tough economy, more courses competing for fewer players

Air Canada forecasts sustained profits

Low-cost carrier, new labour deals show promise

Weather hurts cherry crop

Farmers in the South Okanagan region were predicting a bumper cherry crop this year, but recent wind storms have dashed those hopes.

New arbitrator ordered in Canada Post dispute

The Federal Court has ordered the Harper government to find a new arbitrator in a lingering dispute between Canada Post and its biggest union.

Indigo narrows quarterly loss

Indigo Books & Music Inc. says its first-quarter loss narrowed to $5.5 million as it cut expenses and sold its eReader business. The book retailer said the loss amounted to 22 cents per share, compared with $24.

Pay by cell at Starbucks

Starbucks is partnering with mobile-payment company Square to save money on credit- and debit-card interchange fees and to give customers a second option for paying for their lattes by cellphone.

Yellow Media sells deal site

Daily deal website WagJag said it has bought Yellow Media Inc.'s Deal of the Day business. Financial terms of the deal, which increases WagJag's subscriber list and expands its reach for clients, were not disclosed.

RIM reviving Samsung talks

A report by investment firm Jefferies suggests that Research In Motion Ltd. is trying to revive discussions about a possible partnership with Samsung Electronics.

On the Street

MILESTONE FOR PENINSULA FIRM Sidney-based Royal LePage By The Sea, a boutique real estate office established by Jean and Edward Dunn in 1996, achieved an impressive milestone last month, selling its 200th oceanfront property.