Oil & Gas
Seven & i's quarterly profits plummet as it tries to fend of Couche-Tard's bid
Seven & i Holdings, a Japanese company, announced on Wednesday that its fourth-quarter profits fell by 15%. This is likely to hinder the ability of Alimentation Couche-Tard to takeover Seven & i Holdings. 7-Eleven's operator booked an operating profit of 105.6 bn yen ($726.4m) during the period December-February, which is slightly higher than the average 94.5 bn yen of eight analyst forecasts compiled by LSEG. Its fourth consecutive quarter saw a decline in profits as inflation levels in Japan and North America impacted consumer spending. It has been hit by price-conscious consumers switching to cheaper competitors in its domestic market....