Home arrow Business arrow Business News
Business News
7-Eleven acquires Chicago-based White Hen chain PDF Print E-mail
Written by wikinews.org   

WHP Holdings Corp., the parent company of White Hen Pantry, has been acquired by Tokyo based Seven & I Holdings Co. for $35 million from New York investment firm, Angelo, Gordon & Co. White Hen has previously declared bankruptcy. Seven & I is the owner and operator of the 7-Eleven convenience store chain. This is the largest buyout for the 7-Eleven brand in two decades and signals a continuance of the expansion Seven & I has pursued in recent years.

"This acquisition is a strategic fit for 7-Eleven and enhances market presence in the Chicagoland area," said 7-Eleven Inc. President and Chief Executive Joseph DePinto. The addition of White Hen stores will allow the company to increase their presence in greater Boston (55 stores) and metropolitan Chicago (206 stores) bringing their North American store count to over 7,100.

 
Oil prices rise after Alaskan field shuts down PDF Print E-mail
Written by Wikinews.org   

Oil prices rose dramatically on Monday after a major Alaskan oil field shut down operations, halving the total output of oil from Alaska. Coming on top of the ongoing violence in the Middle East, the price of Light, sweet crude for September delivery rose by $1.23 to US$75.99 a barrel in early afternoon Asian trading at the New York Mercantile Exchange.

London brent crude peaked at $77.73/barrael.

The shutdown of the Prudhoe Bay oil field "caught traders by surprise", says Victor Shum, an energy analyst in Singapore. "The Middle East violence is a threat to the oil supply, but Alaska is a real disruption".

The oil field began shutdown procedures on Sunday due to severe corrosion and a minor leakage from an oil transit line. The total shutdown process is expected to take a few more days. BP Exploration Alaska, Inc, the company running the field, has said that oil production will be reduced by 400,000 barrels per day, or nearly 8% of the total U.S. oil production.

BP officials do not know how long the field will stay offline.

Last Updated ( Thursday, 10 August 2006 )
 
<< Start < Prev 1 2 3 4 5 6 Next > End >>

Results 46 - 47 of 47

Stocks


Warning: file(http://finance.yahoo.com/d/quotes.csv?s=^DJI,^IXIC&f=sl1d1t1c1ohgv&e=.txt) [function.file]: failed to open stream: HTTP request failed! HTTP/1.0 403 Forbidden in /home/theunive/public_html/modules/mod_stockquotes.php on line 361

Warning: Invalid argument supplied for foreach() in /home/theunive/public_html/modules/mod_stockquotes.php on line 363

Warning: Invalid argument supplied for foreach() in /home/theunive/public_html/modules/mod_stockquotes.php on line 448

Warning: file(http://finance.yahoo.com/d/quotes.csv?s=HPQ,IBM,SUNW,AAPL,DELL,GOOG&f=sl1d1t1c1ohgv&e=.txt) [function.file]: failed to open stream: HTTP request failed! HTTP/1.0 403 Forbidden in /home/theunive/public_html/modules/mod_stockquotes.php on line 361

Warning: Invalid argument supplied for foreach() in /home/theunive/public_html/modules/mod_stockquotes.php on line 363
     
Get Symbol Info(s)...

Syndicate