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Hanoi becomes new retail  battleground as 7-Eleven, GS25 move in
Hanoi becomes new retail  battleground as 7-Eleven, GS25 move in

Nikkei Asia

time4 hours ago

  • Business
  • Nikkei Asia

Hanoi becomes new retail battleground as 7-Eleven, GS25 move in

Retail Convivence store chains step into Vietnamese capital from foothold in Ho Chi Minh City 7-Eleven's first Hanoi location opened in the city's Old Quarter in early June. (Photo by Yuji Nitta) YUJI NITTA HANOI -- A battle of convenience stores is heating up in Hanoi, with Japan's 7-Eleven entering the city to take on a recent arrival, South Korean chain GS25, and market leader Circle K. 7-Eleven opened its first Hanoi location on busy Lo Su Street in the Vietnamese capital's Old Quarter last month. A local company runs the store through a franchise agreement with a subsidiary of Japanese parent, Seven & i Holdings.

Where is Natanis Merasty? Edmonton police seek tips after Indigenous woman's disappearance
Where is Natanis Merasty? Edmonton police seek tips after Indigenous woman's disappearance

Edmonton Journal

time2 days ago

  • Edmonton Journal

Where is Natanis Merasty? Edmonton police seek tips after Indigenous woman's disappearance

Family members of an Indigenous Saskatchewan woman are pleading for answers more than two months after her disappearance. Article content Edmonton police issued an appeal on Friday for tips in the case of 24-year-old Natanis Merasty, who was last seen May 5 in Edmonton. Article content Article content Originally from Prince Albert, Sask., Merasty's vehicle was spotted in three different provinces before being found abandoned on James Smith Cree Nation May 15. Article content Article content 'Natanis is very soft spoken, shy, loving, caring,' Marcela Merasty, aunt of Natanis Merasty, told a news conference Friday. 'We want her home. She is loved, she did not deserve this. Her family dearly misses her and wants her home.' Article content Article content 'We have a lot of hope that she's still alive,' said Victor Michel, the missing person's uncle . 'Mainly, we are missing our girl. We want her home.' Article content Natanis Merasty is a member of Peter Ballantyne Cree Nation in northeast Saskatchewan. She resided in Prince Albert at the time of her disappearance, and was believed to be travelling west with a group of people in her black 2007 Hyundai Tucson. Article content Natanis was last seen in Edmonton on May 5. Security cameras recorded her at the Continental Inn at 166 Street and Stony Plain Road. She left the motel around 1:22 a.m. in her vehicle, and it returned at around 1:30 a.m. before leaving again at 2:37 a.m. Article content Article content She was spotted on a security camera at a 7-Eleven on 156 Street and 107 Avenue at 2:55 a.m. Article content Article content After that, only her vehicle was spotted. The Hyundai travelled through Edmonton, Sherwood Park, Buck Lake and Nordegg before being seen near Lake Louise. Article content The vehicle then entered British Columbia, ferrying to Nanaimo on May 7. It was spotted again in Edmonton on May 10, then west of Lloydminster on May 12. It was finally found abandoned and repainted silver on James Smith Cree Nation in Saskatchewan on May 15. Article content Merasty was reported missing to RCMP on May 9 after she dropped out of touch with her family. Edmonton city police took over the investigation on May 22. Det. Lisa Riou said her disappearance is considered suspicious. Article content 'We've spoken to a number of individuals, and we have a number of people of interest,' she said. However, police continue to seek tips from anyone who may have seen Natanis.

Travel to South Korea for under INR 1 Lakh? It's possible — Here's how
Travel to South Korea for under INR 1 Lakh? It's possible — Here's how

Time of India

time2 days ago

  • Time of India

Travel to South Korea for under INR 1 Lakh? It's possible — Here's how

With the soaring global popularity of K-pop and K-dramas, South Korea has firmly found its place on travel bucket lists around the world, including India. Whether it's Seoul's neon-lit streets, Busan's coastal charm, or the country's deep-rooted history and culture, South Korea indeed has something for every kind of traveller. But what if you could experience all of that without breaking the bank? While many assume that a trip to South Korea will burn a hole in their pocket, it's absolutely possible to explore the country for under INR 1 lakh—with the right planning and budgeting. Curious how to pull it off? Here's how to do it. Flights: INR 25,000–INR 30,000 The biggest saving that you can do is by grabbing a great return flight deal. If your timing is right, you can score return tickets from Delhi to Seoul for just INR 25,000 via Vietnam Airlines. By being flexible with travel dates and booking early, it gets easy to snag a deal that's usually unheard of for international travel. Read more: 8 underrated rail routes in India for scenic journeys Accommodation: INR 18,000–INR 22,000 South Korea offers a wide range of budget stays. Hostels, guesthouses, and Airbnbs are ideal for budget travellers. In cities like Seoul and Busan, a clean and comfortable stay can cost INR 1,500 – INR 2,000 per night. Booking platforms often offer discounts for longer stays. Look for stays with kitchen access to save on food, and consider locations near subway lines for easier commuting. Internal transfers For traveling within Korea, including journeys between Seoul and Busan, keep a budget of around INR 10,000. This can cover your bus rides and high-speed KTX bullet trains, which implies that you don't have to sacrifice speed for savings. Food budget Sampling Korean food is a big part of the adventure. From street eats to sit-down Korean barbecue meals, you can restrict your budget to INR 15000 for around 10 days. The trick? Mixing splurge meals with convenience store snacks, because 7-Eleven in Korea is a whole experience on its own. Activities and Attractions: INR 5,000–INR 6,000 No trip is complete without iconic experiences. Keep aside a budget of INR 5,000 for attractions like Namsan Seoul Tower, the Busan Sky Capsule, and a hanbok rental for that classic Korean palace photoshoot. Do include cultural sites, to ensure that your itinerary is both fun and enriching. Connectivity (eSIM or SIM card): INR 1,000 Stay connected with a travel eSIM or a local SIM card with 10–15 GB of data for around INR 1,000. This helps with navigation, translations, and staying in touch without relying solely on Wi-Fi. Read more: 6 places in India that can totally rival Thailand Total estimated cost: INR 85,000–INR 95,000 With smart planning, South Korea can be both an exciting and economical destination. By choosing budget-friendly stays, making use of public transport, and balancing splurges with savings, you can enjoy a rich and immersive Korean experience—without crossing the INR 1 lakh mark.

Seven & i risks becoming buyout target again if turnaround fails
Seven & i risks becoming buyout target again if turnaround fails

Business Times

time2 days ago

  • Business
  • Business Times

Seven & i risks becoming buyout target again if turnaround fails

[TOKYO] Even after fending off Alimentation Couche-Tard's unsolicited 6.77 trillion yen (S$58.5 billion) takeover approach, Seven & i Holdings remains a buyout target in the eyes of some investors, who say new suitors may emerge unless the operator of 7-Eleven convenience stores turns around its business. 'If the stock price drops significantly, there might be a possibility of tender offers or hostile takeovers,' said Takamasa Ikeda, senior portfolio manager at GCI Asset Management, an investor in Japanese stocks. While Seven & i shares are higher than they were before Couche-Tard's interest became public in August 2024, they fell after the proposal was withdrawn this week and are down by more than a fifth this year. Newly appointed chief executive officer Stephen Dacus is under pressure to convince stakeholders that sweeping reforms will deliver, especially in the US and Japan, where inflation and weak demand are weighing on profits. Seven & i is taking steps to bolster its shares with a five-year, two-trillion-yen share buyback. So far, that has not done much, with the stock down about 7.8 per cent since the repurchase was announced on Mar 6. Some of the funding for that was due to come from an initial public offering of the US business, but Couche-Tard's exit has raised doubts over whether that plan will remain intact. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Further investor-friendly efforts will be harder to enact, given that Seven & i has already taken drastic steps to overhaul the business, according to Taku Sugawara, an analyst at Iwai Cosmo Securities. The operator of 7-Eleven stores is on track to sell its less-profitable retail operations in a deal that will close in September, part of the package of sweeping changes announced since Couche-Tard's approach. 'Obfuscation and delay' The Canadian group's campaign, which if successful would have been the biggest foreign takeover of a Japanese company, ended in acrimony. In a 1,500-word missive, Couche-Tard said Seven & i's founding Ito family had never been open to talks and blamed the board for a 'calculated campaign of obfuscation and delay'. Seven & i responded by saying it was disappointed by Couche-Tard's decision to walk away, and disagreed with what it called 'numerous mischaracterisations' in the letter. The remaining path for Seven & i is to pursue greater growth and profitability in the convenience stores business, which investors have been clamouring for. Two years ago, activist fund ValueAct Capital Management pushed for this strategy and unsuccessfully sought to replace Ryuichi Isaka, the prior CEO. One issue is Seven & i's underlying performance. While operating profit for the March-to-May period rose 9.7 per cent year on year to 65.1 billion yen, it was the second-lowest quarterly result in the past decade. Domestic same-store sales remained almost flat, lagging behind competitors. The US operations squeezed out profits thanks to cost-cutting measures, but revenue remains weak. 'We are closely watching how far Mr Dacus can go in supporting and managing improvements in performance,' said Takahiro Kazahaya, a senior analyst at UBS Securities. The CEO is due to give an update on Seven & i's turnaround strategy in August, with a focus on how he plans to improve the core convenience store business. Giving in Seven & i has a long history of enacting reforms under external pressure. In 2016, concerns raised by activist fund Third Point over executive appointments resulted in the exit of former chairman Toshifumi Suzuki and Isaka's appointment. ValueAct's pressure campaign helped fuel Seven & i's decision to sell its Sogo & Seibu department stores to Fortress Investment Group in 2022 for 250 billion yen. The latest reforms were accelerated by Couche-Tard's approach, according to Kazahaya. While Couche-Tard may have stepped away from the deal, its decision to provide a detailed explanation in a long letter may tempt other potential bidders, activist investors, or even rivals, to join the fray. One investor pointed out that the Canadian operator of Circle K stores could have issued a one-line statement, but chose instead to disclose details of its discussions with Seven & i, including the amount of the termination fee – US$1.2 billion – and alternate merger scenarios that were discussed. Artisan Partners Asset Management was especially vocal during Couche-Tard's campaign, pressing the company to engage more deeply with the Canadian retailer. In a letter sent to the company's directors in March, the US investment firm cited concerns around potential conflicts of interest and the board's 'failure to pursue the path that offers the best future for the company and maximises value'. Another possibility is the resurrection of a management buyout by Seven & i's founding Ito family. A nine-trillion-yen proposal to take the retailer private imploded in March after the buyout group, which included Itochu, failed to secure financing. The lacklustre share price also makes Seven & i a prime candidate to be taken private by insiders. BLOOMBERG

Seven & i deal collapse seen sending signals to activist investors
Seven & i deal collapse seen sending signals to activist investors

Nikkei Asia

time2 days ago

  • Business
  • Nikkei Asia

Seven & i deal collapse seen sending signals to activist investors

Alimentation Couche-Tard's attempt to buy the operator of the 7-Eleven convenience store chain was widely seen as a litmus test for Japanese conglomerates' openness to M&A bids by foreign acquirers. (Source photos by AP and Kosuke Imamura) LISA KIM, JADA NAGUMO and SHOTARO TANI TOKYO -- Canadian retailer Alimentation Couche-Tard has called it quits after a yearlong siege to take over Japan's iconic Seven & i Holdings. Market experts see the withdrawal as an invitation for activist investors to step up their campaigns to push for more change in corporate Japan. Recent corporate governance reforms, increased investor activism and government guidelines on fairness and transparency when receiving takeover bids have powered dealmaking to record highs in Japan.

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