Tim Hortons franchisee group accused of leaking information served notices of default

TORONTO — A group representing frustrated Tim Hortons franchisees says its board members have been accused by the company of helping leak confidential information.The Great White North Franchisee Association said its board members have been served with notices of default.In a letter to the company posted on the association website, association president David Hughes denied the allegations and accused the company of trying to intimidate franchisees. “We have no knowledge as to how the Globe and Mail came into possession of any confidential information, assuming that it did,” he wrote.Tim Hortons’ franchisees claim the chain’s Canadian culture is under attackTim Hortons owner posts weak sales amid ongoing franchisee revoltAs troubles brew in Canada, RBI plans to expand Tim Hortons to SpainHughes also threatened legal action as he said the company was “interfering with franchisees’ right to associate and directly or indirectly penalizing or threatening franchisees who choose to associate.”Tim Hortons did not immediately return a request for comment.The franchisee association was formed in March amid complaints by members that the parent company was using its power to extract more profit from franchisees.Tim Hortons has said that the company is focused on working with its elected franchisee advisory board.A Tim Hortons franchisee moved to launch a class-action lawsuit earlier this year alleging Tim Hortons corporate parent Restaurant Brands International is improperly using money from a national advertising fund. The allegations have not been proven in court.RBI has said in a statement that it vehemently disagrees with and denies all of the allegations. read more

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Malaysia charges 17 Goldman Sachs figures over 1MDB scandal

KUALA LUMPUR, Malaysia — Malaysia has filed criminal charges against 17 current and former directors at three Goldman Sachs subsidiaries for their role in the alleged multibillion-dollar ransacking of state investment fund 1MDB.Malaysian and U.S. prosecutors allege that bond sales organized by Goldman Sachs for 1MDB provided one of the means for associates of former Malaysian leader Najib Razak to steal billions over several years from a fund that was ostensibly set up to accelerate Malaysia’s economic development.The government in December filed criminal charges against Goldman Sachs and two former executives for breaches of securities laws including making false, misleading statements to investors.Attorney General Tommy Thomas said Friday the 17 people holding senior posts were charged under the Malaysian Capital Markets and Services Act for conniving to commit the massive fraud.The Associated Press read more

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Pickup truck snaps off hydro pole

A white pickup truck struck a hydro pole on McDowell Road East in Charlotteville on Tuesday afternoon.Police say a 35-year-old Norfolk County man was travelling eastbound on McDowell Road when he lost control, entered the ditch and collided with a hydro pole.The driver was taken to a local area hospital by ambulance to be treated for minor injuries.McDowell Road was closed between Turkey Point Road and Yuell Road for five hours while Hydro One was on the scene.The investigation is continuing.

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