Apr 6, 2017

7-Eleven operator buying U.S. Sunoco stores

Mike Mozart via Flickr CC

Seven & i Holdings Co, the 7-Eleven operator, said Thursday it would be buying convenience stores and petrol stations from Sunoco LP, the major gasoline refiner, according to AP. Sunoco is reportedly aiming to focus more on its fuel supply business.

The deal: The deal totals about $3.3 billion, and includes an agreement that Seven & i will buy gasoline from Sunoco for 15 years. 7-Eleven will be getting about 1,100 stores along the East Coast and in Texas. Sunoco shares have soared since the sale. The sale is expected to close by Q4.

Why it's happening: Two reasons. First, the bulk of Seven & i's operating profit comes from convenience stores, or about 3.29 billion USD (364.4 billion yen) in the year through February, and the Japanese retailer sees "opportunities" in potential growth in the convenience store market. Second, Seven & i has said it wants to increase its number of stores in the U.S. to 10,000 by the end of 2019.

Why it matters: The deal would be the biggest for Seven & i, which most recently acquired 79 stores from CST Brands Inc.

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Bernie's juggernaut

Sen. Bernie Sanders speaks in San Antonio last night with his wife, Jane. Photo: Eric Gay/AP

Sen. Bernie Sanders won so big in the Nevada caucuses that Democrats are hard-pressed to sketch a way he's not their nominee.

Driving the news: With 60% of precincts counted (slow, but better than Iowa!), Sanders is running away with 46% of delegates — crushing Joe Biden's 20%, Pete Buttigieg's 15%, Sen. Elizabeth Warren's 10% and Sen. Amy Klobuchar's 5%.

Go deeperArrowUpdated 2 hours ago - Politics & Policy

Buttigieg campaign claims Nevada caucuses were "plagued with errors"

Photo: Win McNamee/Getty Images

Pete Buttigieg's campaign wrote a letter on Sunday asking the Nevada State Democratic Party to release early vote and in-person vote totals by precinct and address certain caucus errors identified by campaigns, The Nevada Independent reports.

The big picture: The campaign alleges that the process of integrating early votes on caucus day was “plagued with errors and inconsistencies,” and says it received more than 200 incident reports from precincts around the state.

Go deeperArrowUpdated 2 hours ago - Politics & Policy

Coronavirus threat grows, threatening some drug supplies

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens.

As the novel coronavirus continues spreading globally and China grapples with a limited production capability, there's a growing risk to about 150 prescription drugs in the U.S., sources tell Axios.

The big picture: The coronavirus has spread to more countries, with both South Korea and Italy stepping up emergency measures amid rising case numbers on Sunday. COVID-19 has killed at least 2,467 people and infected almost 79,000 others, mostly in mainland China.

Go deeperArrowUpdated 3 hours ago - Health