• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Market news: The Danish central bank intervened in the foreign exchange market last month, purchasing 700 million Danish kroner.U.S. Ambassador to the United Nations: U.S. President Trumps patience with Iran is running out.U.S. Ambassador to the United Nations: We call on Iran to return to dialogue and peace efforts.The UK FTSE 100 index rose 2.00% on the day. 1. EIA Natural Gas Report: As of the week ending June 26, total U.S. natural gas inventories stood at 2.922 trillion cubic feet, an increase of 87 billion cubic feet from the previous week, and a decrease of 23 billion cubic feet from the same period last year, a year-on-year decrease of 0.8%. However, it was 175 billion cubic feet higher than the 5-year average, an increase of 6.4%. 2. According to Bloomberg, since Saudi Arabia resumed tanker loading and unloading in the Persian Gulf, its crude oil exports have surged to near pre-war levels, further demonstrating that oil supplies from oil-producing countries in the region are recovering following the interim peace agreement between the U.S. and Iran. 3. Data from the U.S. Department of Agriculture shows that for the week ending June 25, U.S. net soybean export sales for the 2025/2026 marketing year were 42,000 tons, lower than the market expectation of 300,000-650,000 tons, compared to 455,000 tons the previous week; net soybean sales for the 2026/2027 marketing year were 183,000 tons, compared to 902,000 tons the previous week. 4. Nordic American Tankers: Three of its tankers have resumed international shipping operations after passing through the Strait of Hormuz, and all crew members are safe and sound. 5. Initial jobless claims in the U.S. fell slightly last week as businesses continued to avoid large-scale layoffs. The U.S. Labor Department said Thursday that initial jobless claims for the week ending June 27 were 215,000, lower than the market expectation of 220,000 and the previous weeks report of 216,000. 6. Data released by the U.S. Bureau of Labor Statistics on Thursday showed that Junes job gains fell sharply from the downwardly revised 129,000 in May, and also fell short of the 115,000 predicted by economists in a Bloomberg survey. This report marks a significant cooling in the labor market after three consecutive months of better-than-expected job growth. The unemployment rate fell slightly to 4.2% from 4.3% in May, as investors lowered their expectations for a Federal Reserve interest rate hike. 7. According to foreign media reports, a survey of 12 analysts by S&P Global Energy shows that sugar production in Brazils south-central region is expected to reach 2.21 million tons in the first half of June, a year-on-year decrease of 9.5%. Sugarcane crushing volume is expected to reach 38.35 million tons during the same period, a year-on-year decrease of 1.3%. 8. According to USDA agricultural drought monitoring data, as of June 30, 2026, the proportion of major U.S. crop-producing areas experiencing moderate to severe drought (D1+) is as follows: 19% in U.S. soybean-producing areas, down 3 percentage points from 22% last week; and up 11 percentage points from 8% in the same period last year. 9. This week, Mysteels Coal and Coke Division surveyed the profit per ton of coke at 30 independent coking plants nationwide. The national average profit per ton of coke is 47 yuan/ton; the average profit per ton of coke is 71 yuan/ton in Shanxi (quasi-first-grade), 73 yuan/ton in Shandong (quasi-first-grade), 54 yuan/ton in Inner Mongolia (metallurgical coke), and 91 yuan/ton in Hebei (quasi-first-grade coke).

Sogo & Seibu will be sold to Fortress Investment Group by Seven & I Holdings

Skylar Williams

Nov 11, 2022 15:50

20.png


According to news published on Friday, Seven & I Holdings Co Ltd has decided to sell its Sogo & Seibu department store company to Fortress Investment Group of the United States.


Seven & I, the operator of 7-Eleven convenience stores and the Speedway gas station chain in the United States, has been under pressure from ValueAct Capital to execute structural reforms and dispose of assets.


During an unusual meeting on Friday morning, the company's board of directors decided to sell Sogo & Seibu, and a spokesman said that details would be disclosed in the afternoon.


According to people familiar with the matter, the purchaser was a SoftBank Group Corp.-controlled fund. According to one of them, the transaction's price and other parameters are still being finalized.


This Monday, the Nikkei newspaper reported that Seven & I would sell its struggling department store division to Fortress for 200 billion yen (about $1.4 billion).


SoftBank did not respond quickly to a request for comment. Fortress did not immediately respond to a comment request after U.S. business hours.


According to the Nikkei, Yodobashi Holdings is expected to invest in the arrangement and establish outlets inside Sogo & Seibu locations.


Representatives of Yodobashi were not immediately reachable for comment.


Seven & I shares rose 0.6% in Tokyo trading, compared to the Nikkei index's 2.7% gain.