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Marketplace All-in-One

Takeover trouble in the world of convenience stores

Marketplace All-in-One

Marketplace

News, Business

4.51.4K Ratings

🗓️ 17 July 2025

⏱️ 8 minutes

🧾️ Download transcript

Summary

From the BBC World Service: The Canadian firm Couche-Tard, best known for Circle K, is walking away from a $47 billion bid to buy Japan’s Seven & i, the parent company of 7-Eleven. Couche-Tard says it faced a “calculated campaign of obfuscation and delay” from the Japanese side. Then, Americans are firing up their grills this summer, but they’re getting singed by the cost of beef. Prices continue to rise. We find out why.

Transcript

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0:00.0

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0:53.7

It's about keeping

0:54.4

everything secure. There's takeover trouble in the world of convenience stores. Hello, this

1:01.2

is the Marketplace Morning Report, and we're live from the BBC World Service. I'm Leanna Byrne. Good

1:06.5

morning. So the Canadian firm Kutar, best known for Circle K, is walking away from a $47 billion bid to buy Japan's 7-I, the parent company of 7-11.

1:18.7

Here's the BBC's Morphogity.

1:20.6

Have the deal gone through, it would have combined the world's biggest convenience store chain, 7-Eleven, with the Canadian company's Circle K stores,

1:28.8

to create a global mini-mart giant with more than 100,000 stores around the world.

1:35.0

Seven and I said they were disappointed and not surprised by their rival's decision,

1:39.6

and that they also disagreed with the, quote, numerous mischaracterizations.

1:44.8

The proposal was widely seen as a litmus test of corporate Japan's willingness to accept foreign takeovers,

1:50.6

which for now there seems to be little appetite for.

1:53.7

More Fogarty there. Now, let's the numbers.

1:56.9

China's power demand just hit a record 1.5 billion kilowatts as blistering heatwave pushes people to crank up the aircon.

2:04.7

Half the grid's power came from solar. Meanwhile, TSM, the Taiwanese chip giant behind Apple and Navidia,

2:11.6

just posted a 60% jump in profits riding the AI boom to $13.5 billion last quarter.

...

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