Japan

Alimentation Couche-Tard, a Canadian retailer, withdrew a $46 billion takeover bid for Japan's Seven & i Holdings. It blamed the lack of constructive engagement on the part of Japanese retailer. The 7-Eleven operator's "konbini stores" would have been the largest foreign acquisition of a Japanese firm. This is the timeline for the bid: AUGUST 19, 2020 Couche-Tard says that it has contacted Seven & i regarding a possible takeover. Both companies do not disclose the value of their offer. Seven & i shares surged almost 23%, to 2161 yen, valuing it at approximately 5.6 trillion yen (about 38 billion dollars)....

These are the most popular stories from the New York Times' business pages. These stories have not been verified and we cannot vouch for the accuracy of these reports. After an extended year of negotiations, marked by dramatic turns and twists, Alimentation Couche-Tard announced that it would abandon its multi-billion-dollar bid to purchase the owner of 7-Eleven convenient stores. Indonesian President Prabowo Subianto confirmed Wednesday that the general outline of a new trade agreement between the United States and Indonesia was agreed. Under the agreement, U.S. goods exported to Indonesia will not be subjected to tariffs while Indonesian products in...

Alimentation Couche-Tard, a Canadian retailer, withdrew a $47 billion takeover bid for Japan's Seven & i Holdings. It blamed the Japanese retailer for ignoring its offer. The 7-Eleven operator's "konbini stores" would have been the largest foreign acquisition of a Japanese firm. Here is the timeline for a bid: AUGUST 19, 2020 Couche-Tard says that it has contacted Seven & i regarding a possible takeover. Both companies do not disclose the value of their offer. Seven & i shares surged almost 23%, to 2161 yen, valuing it at approximately 5.6 trillion yen (about 38 billion dollars). SEPTEMBER 6, 2020 Seven...

The Nikkei 225 index in Japan fell on Thursday as a result of a decline in shares related to chip-making tools after Dutch supplier ASML issued a warning about revenue. As of 0214 GMT the tech-heavy Nikkei index was down 0.3% to 39,544.62. The two largest drags on the index were chip-sector giants Tokyo Electron (down 0.3%) and Advantest (down 0.3%). Topix as a whole, on the other hand, only managed a 0.1% increase. Seven & i Holdings was the Nikkei’s largest decliner, in terms of percentage. It fell 7.8% when Alimentation Couche-Tard (Canada) ended its bid to take over...

Alimentation Couche-Tard, a Canadian retailer, announced on Wednesday that it had withdrawn its $47 billion bid to acquire Seven & i Holdings. The company cited a lack "constructive engagement" with the Japanese family who founded the Japanese firm. Couche-Tard's attempt to merge Circle K and 7-Eleven into a global convenience-store giant with 20,000 stores ended after a year-long effort. In an effort to reduce regulatory obstacles, it had also agreed on a plan to sell stores. In a letter addressed to the board of directors, Couche-Tard stated that "we have sought to have a dialogue with the Ito Family on...

The use of giant shovels, driverless vehicles and a robot that looks like a dog have helped Canada's Oil Sands companies, including Imperial Oil and Suncor, become some North America's low-cost oil producers. This has been achieved despite the fact that U.S. Shale costs rose due to the highest inflation rates in decades. Canada's oil sands sector is in a strong position as the global oil market enters a downward spiral due to economic uncertainty caused by U.S. Tariffs and OPEC+ pumping out more barrels. International oil majors such as BP, Chevron, and Total sold their oil sands interests after...

Seven & i Holdings, a Japanese company, announced on Thursday that its operating profit rose by 9.7% during the quarter from March to May, exceeding analysts' expectations, thanks to an improved performance of its overseas convenience store business. 7-Eleven is being pressured to improve its financial situation in response to a takeover offer of $47 billion from Alimentation Couche-Tard, based in Canada. Six analysts polled at LSEG estimated 58 billion yen as the profit for the first quarter. The Japanese retail giant announced previously a share purchase, that it is selling non-core assets and intends to list its North American...

Investment bankers were disappointed by the lack of mergers and acquisitions in the first half of the year. However, a surge of large deals in Asia as well as renewed optimism on U.S. stock markets may be setting the stage for megadeals. Dealmakers report that market uncertainties stemming primarily from U.S. president Donald Trump's tariff war, high interest rate and broader geopolitical conflicts hampered, but not derail, what bankers had expected to be a record-breaking year for global M&A. Dealmakers say that Trump's tariffs, which were launched by his "Liberation Day," on April 2, sent a chill through the market...

In an interview broadcast Sunday, Donald Trump stated that Japan engaged in "unfair trade" in automobiles with the United States. He also said Japan should import more energy and other goods from the United States to reduce the U.S. deficit. Tokyo is trying to find a way to convince Washington to exempt Japan’s automakers from the 25% tariffs that are specific to the automobile industry and which hurt Japan's manufacturing sector. Japan will also face a reciprocal tariff of 24% starting July 9 unless a deal can be reached. They won't accept our cars and yet we import millions of...

Travel stocks led the UK's midcaps on Tuesday as investors were encouraged by signs of eased tensions in Middle East, and a positive forecast from Carnival Cruise Lines. The domestically oriented FTSE 250 rose 1%, reaching a record high of more than a week. Carnival's UK listed shares rose 11.8%, outpacing gains in the midcap index. raised Its annual profit forecast was higher than expected and it beat the second-quarter earnings estimate. The FTSE 350 Travel & Leisure index rose 3.6% after U.S. president Donald Trump announced Israel and Iran reached a 12-day-old ceasefire. Both sides accuse each other Violations...

Versalis is the chemical division of the Italian energy company Eni. On Thursday, Versalis unveiled a new demonstration plant for the chemical recycling mixed plastic waste based on its proprietary technology. The technology, called 'Hoop,' allows for the conversion of mixed plastic waste to a material which can be used in order to create new plastic materials that are suitable for any application, including packaging intended to come into contact with food and pharmaceutical packaging. The move is part a larger strategy by the state-controlled company to revamp its losing chemical business. The high cost of energy and raw materials,...

The World Bank lowered its forecast of global growth for 2025 on Tuesday by 0.4 percentage points to 2.3%. It said that increased tariffs and uncertainty were a "significant" headwind for almost all economies. The bank's twice-yearly Global Economic Prospects Report shows that it has lowered its predictions for almost 70% of the world's economies, including the United States and China, Europe, and six emerging markets regions. This is a significant drop from its projections six months earlier, before Donald Trump became president. Trump has upended the global trade system with a series on-again-off-again tariff increases that have raised the...

India's Ola Electric forecast improved gross margins in fiscal 2026, after posting a smaller sequential loss for its first quarter. This was helped by the stronger sales of their newer, cost-efficient scooters. After the results, the shares of the company that was listed in August, last year, rose over 14% and were on course to end a five session losing streak. The Bengaluru-based company's loss for the June quarter was lower than the 8.7 Billion rupees of the previous quarter. SoftBank-backed company said it expected gross margins to increase to 35%-40% in the current financial year. This is up from...

The demand for gold in India has decreased due to lower imports. Indian dealers are offering a discount This week, the official domestic prices will be discounted by up to $14 per ounce, including 6% import duties and 3% sales taxes, compared to last week's up to $18 discount. A Mumbai-based dealer of gold bullion with a private banking firm said that despite a weak demand for jewellery, the low imports of gold in May and early June have led to lower discounts. The price of gold in India was around 97.100 rupees for 10 grams, after reaching a record...

Nippon Steel, Japan's steel giant, announced on Wednesday that it will raise 800 billion yen (5.6 billion dollars) via two subordinated loan to partially finance its recent $14.9 Billion acquisition of U.S. Steel as well as refinance existing loans. The largest steelmaker in Japan will partially repay the 2 trillion yen loan it secured for this deal by using a subordinated 500 billion yen loan. Separately, a 300 billion yen refinancing loan will be used to refinance an earlier 450 billion subordinated loan. Nippon Steel's spokesperson confirmed that the 500 billion yen loan would be covered by Japan’s three major...

Iron ore has surpassed coal as the top commodity exported by Australia. This is due to the increase in shipments to China of steel raw materials. Gold is now threatening to surpass coal. According to the latest quarterly report of Australia's government commodity forecaster, earnings from precious metal exports are expected to increase to A$56 Billion ($36.6 Billion) in the fiscal period starting July 1. The Department of Industry, Science and Resources released data on Monday that showed this figure was higher than the A$39bn forecast for metallurgical and thermal coal. The combined export earnings of A$67billion for 2025-26 are...

Six sources involved in the pricing discussions said that the premium for aluminium shipped to Japanese buyers from July to September is $108 per metric tonne, a 41% drop compared to current quarter. This reflects a sluggish market, they added. This figure is lower than the $182 paid per ton in April-June. It marks the second consecutive quarter decline, and the lowest since the first three months of 2024. The initial offer of $122 - $145 per tonne made by producers around the world is below this figure. Japan is the largest Asian importer for premiums and light metals For...

Iron ore has surpassed coal as the top commodity exported by Australia. This is due to the increase in shipments to China of steel raw materials. Gold is now threatening to surpass coal. According to the latest quarterly report of Australia's government commodity forecaster, earnings from precious metal exports are expected to increase to A$56 Billion ($36.6 Billion) in the fiscal period starting July 1. The Department of Industry, Science and Resources released data on Monday that showed this figure was higher than the A$39bn forecast for metallurgical and thermal coal. The combined export earnings of A$67billion for 2025-26 are...

Siemens Gamesa, a wind turbine manufacturer, is in discussions with Chinese suppliers about bringing production in Europe. This would reduce the region's dependence on imports following China's restrictions on supply. The delays in the issuance of Chinese export permits for rare earths have forced European automakers and their suppliers into a scramble to find alternatives on a market dominated by China, the world's second largest economy. The production of rare earths across Europe could be affected by the No. 2 economy in the world. Wind sector is also dependent on rare earths produced in China. Most notably, neodymium which is...

Tesla's European new car sales fell by 27.9% from a year ago in May, even though sales of fully-electric vehicles in the region jumped by 27.2%. The revised Model Y has yet to show any signs of reviving Tesla's fortunes. The European Automobile Manufacturers Association's (ACEA) data showed that overall car sales in Europe increased by 1.9%. Plug-in hybrids grew the most, followed by cars using alternative fuels. Why it's important Tesla's European Sales have fallen for the fifth consecutive month as customers opt for cheaper Chinese EVs, and in some cases protest against Elon Musk. Tesla's European Market Share...

The Nikkei share index ended Wednesday at a record high of more than four months, as stocks related to chips followed the overnight gains made by their U.S. counterparts. After a flitting back and forth between modest gains, the Nikkei closed at 38,942.07 - its highest level since February 19. The Topix index as a whole rose 0.03% to 2,782.24 Shigetoshi kamada is the general manager of the research department at Tachibana Securities. He said that the Nikkei fluctuated between gains and losses as investors sought to profit from gains made in the previous session. Investors want to cover short...

The companies confirmed that Nippon Steel completed its $14.9 billion purchase of U.S. Steel on Wednesday. This confirms the unusual power of the Trump administration, after 18 months of struggle by the Japanese company to complete the acquisition. Nippon purchased 100% of U.S. Steel's shares for $55 each, just as it had stated in its initial offer to buy the well-known, struggling steelmaker back in December 2023. The filing reveals details of an agreement signed with the Trump Administration, giving President Donald Trump authority to name board members and a non-economic share. Eiji Hashimoto thanked Trump and said that Nippon...

Mitsubishi Motors announced on Tuesday that it would be increasing the prices of U.S. cars by an average 2.1%. This is the latest automaker who has passed on cost increases to the consumers due to the Trump Administration's tariffs. In April, President Donald Trump imposed tariffs of 25% on imports of cars from Japan and almost all other countries. This prompted Mitsubishi to suspend its deliveries to U.S. dealerships. The Japanese automaker said that it resumed these deliveries last week. Mitsubishi explained that the 2.1% increase in average weighted prices, effective on Wednesday, "is a result of our ongoing and...

U.S. president Donald Trump said that Treasury Secretary Scott Bessent stayed in Canada for the G7 summit, and suggested Japan is being "tough' in trade negotiations and the European Union has not yet offered him what he considered to be a fair deal. Trump left early from the G7 to deal with the developments in the Middle East. The president told reporters that the EU has been very tough with the United States over the years. Trump said, "We are talking but I do not feel they have offered a fair offer yet." "They will either make a fair deal,...