Latest news with #Seven&iHoldings
Tokyo Weekender
2 days ago
- Tokyo Weekender
Man Arrested After Making 580 Fake Hotel Reservations
In this week's news roundup we report on two separate arrests: one man is accused of making hundreds of fake hotel reservations, while another admits to setting fire to the property of a go-karting company. Also this week, ACT withdraws its $46 billion buyout proposal for Seven & i Holdings. The Japanese government launches a new office to deal with unruly foreigners. Dragon Ball 's website announces that the franchise will be opening a store in Tokyo this fall. And Tokito Oda wins his second Wimbledon title. List of Contents: Japanese Man Makes 258 Fake Hotel Reservations Over Four Days Man Stressed by Go-Karting Company Is Arrested for Attempted Arson ACT Withdraw $46 Billion Buyout Proposal for Seven & i Holdings Japanese Government Launches New Office To Deal With Unruly Foreigners World's First Dragon Ball Store To Open in Tokyo This Autumn Tokito Oda Wins Second Wimbledon Wheelchair Title at 19 Related Posts Japanese Man Makes 258 Fake Hotel Reservations Over Four Days On Monday, a 28-year-old man from Shimane Prefecture was arrested for making hundreds of bogus room reservations at a hotel near Haneda Airport. Junki Sanuki stayed at the hotel in Tokyo's Ota ward last November. He reportedly wasn't satisfied with the staff. The following month — from December 16 to 19 — he was alleged to have made 258 room reservations at the hotel under a false name. That wasn't all of it, though. According to the police, more than 580 fake hotel reservations were found on Sanuki's phone and other devices. It is believed that the bookings totaled more than ¥17 million. He was arrested on suspicion of obstructing business by deception. Sanuki, who worked until last month as a clinical laboratory technician at Shimane University Hospital, denied the allegations against him. Japanese Man Arrested After Attempting To Burn Down Tokyo Go-Kart Business A 28-year-old Japanese man was arrested on Wednesday on suspicion of attempted arson after he tried to set fire to the property of a go-karting company, causing damage to three vehicles. The suspect, Yuga Matsuoka, admitted to the crime, saying that the noise of the engines 'stressed' him out. He allegedly set fire to a container used for industrial waste. The flames then spread to three parked go-karts. The incident occurred in the early hours of June 21. Matsuoka had reportedly just finished his shift, working in the warehouse next door. Fortunately, nobody was inside the building at the time. According to NHK , the company, which owns around 70 go-karts, received a letter in English in May from someone threatening to 'set karts aflame if engines are turned on after tomorrow.' ACT Withdraw $46 Billion Buyout Proposal for Seven & i Holdings Following almost a year of negotiations, the Canadian convenience-store operator Alimentation Couche-Tard (ACT) has decided to withdraw its $46 billion buyout proposal for Seven & i Holdings. It said it was pulling out due to 'a lack of constructive engagement' with Seven & i, the Japanese operator of the 7-Eleven convenience store chain. The deal would have been Japan's largest ever foreign buyout. In a letter to the Seven & i Holdings board of directors, ACT said that the Japanese company had 'engaged in a calculated campaign of obfuscation and delay.' Seven & i Holdings replied in a statement saying it disagreed with ACT's 'numerous mischaracterizations,' adding, 'we are not surprised.' The Ito family, founders of Seven & i Holdings, have been opposed to the deal from the start. Image: Prime Minister's Office of Japan Japanese Government Launches New Office To Deal With Unruly Foreigners On Tuesday, the Japanese government held an inauguration ceremony for a new office that has been set up to respond to issues such as crime and over-tourism involving foreigners. Headed by Assistant Chief Cabinet Secretary Wataru Sakata, the office will serve as a cross agency 'control tower,' with 78 employees, including officials from the Cabinet Office, the Justice Ministry and other bodies . 'Crimes and disorderly conduct by some foreigners, as well as the inappropriate use of various administrative systems, have created a situation in which the public feels uneasy and cheated,' said Prime Minister Shigeru Ishiba at Tuesday's kick-off ceremony. Chief Cabinet Secretary Yoshimasa Hayashi, meanwhile, claimed that the establishment of the new office was not an election ploy by the Liberal Democratic Party (LDP). World's First Dragon Ball Store To Open in Tokyo This Autumn Originally released in November 1984, Dragon Ball remains one of Japan's most popular manga series. It, therefore, shouldn't come as too much of a surprise to hear the franchise is now getting its own store. The news was announced via the company's official website on Sunday. It's all part of Dragon Ball' s 40th anniversary celebrations, which kicked off last November. At the time of writing, few details have been released about the store. What we do know is that it is slated to open in Tokyo this autumn and will feature limited-edition goods that will only be available at the shop, in addition to other must-have items for fans. More information, such as the exact location and opening date, will be announced on the official website soon. Image: Wikimedia, edits by TW Tokito Oda Wins Second Wimbledon Wheelchair Title at 19 On Sunday, 19-year-old Tokito Oda won his second Wimbledon title in the men's wheelchair singles competition. He came from behind to defeat defending champion Alfie Hewett of Great Britain 3-6 7-5 6-2. It was the third time the two men had faced each other in a Grand Slam final this year. Hewett won the Australian Open in straight sets, before Oda took revenge at the French Open . Between them, the two players have won the last 10 Grand Slam titles and have met each other in seven finals. They also faced each other at the 2024 Paris Paralympics, with Oda coming out on top. Following his latest victory over the British player, Oda said , ' Maybe 100% of the people were cheering for Alfie, but I really enjoyed that moment. I'm r eally happy right now.' Discover Tokyo, Every Week Get the city's best stories, under-the-radar spots and exclusive invites delivered straight to your inbox. By signing up, you agree to our Privacy Policy . Related Posts Sanseito Leader Says 'Japanese First Approach Is Not Based on Xenophobia Nearly 500 Earthquakes Rattle Japan's Tokara Islands Taichi Kokubun of Tokio To Be Suspended for Compliance Violation
SoraNews24
2 days ago
- Business
- SoraNews24
Canadian corporation withdraws bid to acquire 7-Eleven Japan and its parent company
US$47 billion 7-Eleven shopping trip hasn't gone as hoped. Pretty much every time we walk into a branch of 7-Eleven Japan, we spot at least a half-dozen things we immediately want to buy. However, even our 7-Eleven super-fan status pales in comparison to that of Alimentation Couche-Tard, who said 'You know what? Let's just buy the company!' Last August it became known that the Canadian convenience store operator, which runs more than a half-dozen chains including Circle K, Couche-Tard, and Casey's General Stores (no relation), had put in an acquisition bid for 7-Eleven's parent company Seven & i Holdings, whose subsidiaries also include the Ito-Yokado Japanese supermarket chain, Seven Bank online banking system, and majority ownership of Japanese housewares chain Loft. Alimentation Couche-Tard, which was reportedly seeking to acquire all of Seven & i Holdings's operations overseas and a 40-percent stake within Japan, made an initial offer of US$37 billion. The Canadian corporation later bumped that up to $47 billion, and said it was willing to go even higher depending on non-publicly available information regarding Seven & i's finances. The two companies entered into a non-disclosure agreement in April with the expressed purpose of furthering such delicate negotiations, but three months later, Alimentation Couche-Tard has decided to call the whole thing off, though it feels as though Seven & i has forced it into that decision. In a letter addressed to the Seven & i Holdings board of directors and since made public, Alimentation Couche-Tard accuses the company of stalling and a bad-faith lack of transparency, even after entering into the non-disclosure agreement. 'There has been no sincere or constructive engagement from Seven & i that would facilitate the advancement of any proposal, contrary to comments made publicly by Seven & i representatives,' says the letter, condemning their now-former negotiation counterparts of running 'a calculated campaign of obfuscation and delay.' As a result, as of July 16 Alimentation Couche-Tard has withdrawn its bid, and it would appear that any other company interested in acquiring a sizeable piece of Seven & I Holdings will need to be willing to endure a very long process. But hey, we're patient people here at SoraNews24, so we'll get things started with our bid. Ball's in your court, Seven & i Holdings. Source: Alimentation Couche-Tard, NHK News Web, Yahoo! Japan News/Jiji/AFPBB News, CNN Photos ©SoraNews24 ● Want to hear about SoraNews24's latest articles as soon as they're published? Follow us on Facebook and Twitter!
Nikkei Asia
2 days ago
- Business
- Nikkei Asia
7-Eleven parent faces solo path to growth after Couche-Tard drops bid
7-Eleven faces the twin tasks of turning around its Japanese and North American convenience store operations. (Photo by Mayumi Tsumita) KOSUKE OKAMOTO and YOSHIHIRO HARA TOKYO -- Now that Canadian retailer Alimentation Couche-Tard has withdrawn its bid to take over Seven & i Holdings, the Japanese parent of the 7-Eleven chain will face several tests in attaining growth independently. The takeover proposal, which Couche-Tard scrapped Thursday, had put pressure on Seven & i to take steps toward structural reform, including paring noncore businesses, amid a sluggish recovery for its Japanese and U.S. convenience store operations.
Observer
2 days ago
- Business
- Observer
Stocks steady ahead of tech earnings as Fed drama confounds
SINGAPORE: Asian stocks marked time on Thursday ahead of earnings from heavyweight technology companies and as market anxiety lingered over the uncertain tenure of Federal Reserve chief Jerome Powell. TSMC, the world's main producer of advanced AI chips, is expected to post a jump in second-quarter profit to record levels, though US tariffs and a strong Taiwan dollar could weigh on its outlook. Profits for streaming giant Netflix, due later on Thursday, are also on investors' radar. "With Netflix having outperformed the S&P 500 year-to-date by a sizeable 33 percentage points, and the street fully subscribed to the bullish investment case, Netflix will need to blow the lights out with a solid beat and raise," said Chris Weston, head of research at Pepperstone. MSCI's broadest index of Asia-Pacific shares outside Japan was up just 0.07 per cent and the Nikkei rose 0.2 per cent. Ending what would have been the biggest foreign takeover of a Japanese company, Canadian retailer Alimentation Couche-Tard withdrew its $47 billion takeover bid for Seven & i Holdings, citing a lack of constructive engagement by the operator of 7-Eleven convenience stores. Shares of Seven & i Holdings slid to a three-month low and were last down nearly 8 per cent. European futures jumped as EUROSTOXX 50 futures rose 0.6 per cent and FTSE and DAX futures added about 0.4 per cent each. Nasdaq futures and S&P 500 futures fell just over 0.1 per cent each. Also dominating the market mood was confusion over Fed Chair Powell's future at the central bank, after initial news that US President Donald Trump was likely to fire Powell soon sent stocks and the dollar sliding. Trump was quick to deny the reports, restoring some calm to volatile markets, but he kept the door open to the possibility and renewed his criticism of the central bank chief for not lowering interest rates. "I think the most likely outcome is for Powell to stay on until the end of his term next year. Having said that, this is not the first time, so there are going to be episodes of volatility in the dollar as a result of political noise," said Carlos Casanova, UBP's senior economist for Asia. The dollar was on a fragile footing on Thursday, after having lost ground overnight on worries that the Fed's independence could come under threat. The euro was last down 0.14 per cent at $1.1625 while sterling eased 0.17 per cent to $1.3395 after both currencies made gains in the previous session. The dollar rose slightly to 98.47 against a basket of currencies, having lost 0.33 per cent overnight. US Treasury yields also steadied after falling on Wednesday, due to expectations that Powell's removal could lead to quicker and deeper rate cuts, with the two-year yield last at 3.9087 per cent. The benchmark 10-year yield was little changed at 4.4754 per cent. In Australia, the Aussie slid after data showed domestic employment rose only marginally in June as the jobless rate jumped to the highest since late 2021. It last traded 0.56 per cent lower at $0.6492. Elsewhere, oil prices rose on Thursday, with Brent crude futures up 0.4 per cent at $68.78 a barrel. US crude futures gained 0.5 per cent to $66.71 per barrel. — Reuters
Yahoo
3 days ago
- Business
- Yahoo
Morning Bid: Markets calm down after Powell poser
By Mike Dolan LONDON (Reuters) - What matters in U.S. and global markets today By Mike Dolan, Editor-At-Large, Finance and Markets Wednesday's market drama on reports of an imminent ouster of Federal Reserve Chair Jerome Powell has calmed quickly, with President Donald Trump saying it was "highly unlikely" he would fire the central bank boss even as speculation continue to brew. I'll dig into all of today's market news below, and then I'll discuss how U.S. markets may soon shift focus from tariffs to the more pressing economic threat of labor shortages driven by aggressive immigration crackdowns and deportations. Today's Market Minute * U.S. President Donald Trump said Wednesday he is not planning to fire Federal Reserve Chair Jerome Powell, but he kept the door open to the possibility and renewed his criticism of the central bank chief for not lowering interest rates. * Canada's Alimentation Couche-Tard on Thursday pulled its $46 billion bid to buy Seven & i Holdings, saying the retailer refused to engage constructively on the deal, which would have been Japan's largest ever foreign buyout. * The deadly Air India crash last month has renewed a decades-old debate in the aviation industry over installing video cameras monitoring airline pilot actions to complement the cockpit voice and flight data recorders already used by accident investigators. * While almost no one thinks Donald Trump's verbal attacks on Federal Reserve Chair Jerome Powell are a positive development, writes ROI columnist Jamie McGeever, they have electrified the debate about whether the U.S. president is right that interest rates are too high. * The idea of simplifying the federal tax code used to enjoy widespread bipartisan political support. Times have changed in this regard, and not for the better. That's bad news, says Income Securities Advisor publisher Marty Fridson, and not just because of the headaches it causes taxpayers each April. Markets calm down after Powell poser The Fed episode overshadowed otherwise decent set of U.S. economic updates - showing relatively subdued producer prices and above-forecast industry output last month and offsetting anxiety about some tariff-related price rises in Tuesday's consumer inflation report. The Powell story also obscured another decent set of bank earnings, with individual stock reactions for Goldman Sachs, Morgan Stanley and Bank of America underwhelming - much like the prior day's results. Johnson & Johnson did surge 6%, however, after halving its expectations for costs related to new tariffs and raising full-year profit projections. But the burst of speculation about Powell's exit did reveal something of the market's reaction function on the long festering issue and also, to some extent, the potential size of those reactions. The dollar and short-term Treasury yields kneejerked lower on the Bloomberg report that claimed Trump was about to fire the Fed boss. With Trump's insistence on steep and immediate interest rate cuts as a backdrop, the prospect of Powell's removal upped monetary easing speculation instantly. But concern about damage to Fed independence and possibly overeager rate cuts now in the face of above-target inflation saw long-term Treasury yields surge, the yield curve steepen and stocks drop almost 1%. Trump quickly walked back the report and said he discussed firing Powell with Republican lawmakers on Tuesday but now felt he was "highly unlikely" to do so. Markets quickly reversed all their initial moves, puzzling over just what happens next. Many investors felt the whole piece was just calculated to heap pressure on the Fed Chair to resign of his own accord, with fresh angles of attack from the White House on Powell's responsibility for cost overruns in renovating Fed headquarters. "I'd love it if he wants to resign, that would be up to him," Trump added later. But relatively limited extent to which punters believe Trump will pull the trigger this year can be seen in only betting sites. Even at the height of Wednesday's tension, Polymarket's site showed just a one-in-four chance of Powell's ouster this year. And they ebbed back since to show roughly a 20% chance. The upshot in wider financial markets today is that a full recovery in stock prices and the dollar has been sustained - with long bond yields also returning to early Wednesday levels just over 5%. Two-year Treasury yields remained about 5 basis points lower and 10-year inflation expectations in the bond markets edged above 2.4% for the first time since February. Wall Street stock futures were higher again ahead of the bell. Thursday brings another heavy slate of economic updates, with June retail sales and weekly jobless claims topping the list. The corporate earnings season is now in full swing, with Netflix and General Electric and regional banks among those reporting. Given the Fed anxiety, speaking appearances from top board members will be watched especially closely - not least the dovish Christopher Waller, tipped by some as a possible Powell replacement and in favor of resuming rate cuts as soon as this month. On Wednesday New York Fed President John Williams refused to comment on Powell's position but said monetary policy is in the right place and warned the impact of trade tariffs is only just starting to hit the economy. Overseas markets were in relatively buoyant mood too, with Asia and European shares up 0.5-1.0%. Taiwan chip giant TSMC reported results that topped analyst forecasts, undoing some of the pessimism in the sector from Dutch chip-making tool supplier ASML's revenue warning the previous day. European shares rose on Thursday after four consecutive sessions of losses, supported by strong quarterly results from Switzerland's ABB and some renewed optimism over a potential U.S. trade deal. Ahead of weekend elections, Japan's Nikkei recovered from early losses to end higher as a weakening yen that hit three-month lows this week bolstered sentiment chip shares were lifted by TSMC results. G20 finance chiefs will meet in South Africa on Thursday under the shadow of President Donald Trump's tariff threats and questions over their ability to tackle global challenges together. U.S. Treasury Secretary Scott Bessent will not attend the two-day meeting in the coastal city of Durban, marking his second absence from a G20 event in South Africa this year. Chart of the day President Donald Trump said Wednesday it was "highly unlikely" he would fire Fed Chair Jerome Powell shortly after a Bloomberg report claiming he would oust the central bank boss soon hit the dollar briefly and disturbed stock and bond markets. Criticizing Powell's monetary policy stance yet again, Trump confirmed he had floated the idea of firing him with Republican lawmakers on Tuesday, marking the latest chapter in an escalating campaign by Trump against the independent central bank. "I'd love it if he wants to resign, that would be up to him," he added later. Online betting markets moved to show almost a 1-in-4 chance of Powell ouster this year, but have fallen back again to about a 21% chance since. Today's events to watch * U.S. weekly jobless claims (8:30 AM EDT), June retail sales (8:30 AM EDT), Philadelphia Federal Reserve July business survey (8:30 AM EDT), July NAHB housing market index (10:00 AM EDT), May business/retail inventories (10:00 AM EDT), Treasury TIC data on flows to and from U.S. securities (4:00 PM EDT) * U.S. corporate earnings: Netflix, US Bancorp, Snap-On, Pepsico, Abbott Laboratories, Travelers, General Electric, Marsh & McLennan, Cintas, Citizens Financial, Fifth Third, Elevance * Federal Reserve Board Governor Christopher Waller, Fed Board Governor Adriana Kugler, Fed Board Governor Lisa Cook and San Francisco Fed President Mary Daly all speak * G20 Finance and Central Bank Meeting in South Africa Want to receive the Morning Bid in your inbox every weekday morning? Sign up for the newsletter here. You can find ROI on the Reuters website, and you can follow us on LinkedIn and X. Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias. (by Mike Dolan; editing by Ros Russell)
