AI-Driven Inflation Raises U.S. Consumer Prices, Goldman Sachs Says 
China EV Truck Boom Accelerates as Iran War Drives Diesel Prices Higher 
Orsted Q1 EBITDA Beats Expectations Despite U.S. Impairments 
Russian LNG Shadow Fleet Expands Amid Arctic LNG 2 Sanctions 
Dollar Struggles to Rally Despite Strong US Data as Fed Hike Expectations Remain Limited 
Broadcom Eyes $35 Billion AI Chip Financing Deal With Apollo and Blackstone 
Gold Prices Hold Firm as Iran Tensions and Dollar Swings Drive Safe-Haven Demand 
BMW Keeps 2026 Outlook Despite 25% Profit Drop Amid Tariff Pressure 
Asian Stocks Slide as Iran Tensions Escalate Despite Strong Weekly Gains 
Lula and Trump Talks Signal New Phase in Brazil-US Relations 
Dell Stock Hits Record High After Trump Endorsement, AI Server Demand Fuels Rally 
China Export Growth Surges in April as Global Buyers Rush to Secure Supplies 
Oil Prices Rise Amid Strait of Hormuz Tensions and U.S.-Iran Ceasefire Uncertainty 
Wall Street Hits Record High as AI Chip Stocks and Strong U.S. Jobs Data Boost Markets 
S&P 500, Nasdaq Hit Record Highs as AI Stocks Rally and Strong Jobs Data Boost Confidence 
China-Made Fireworks Power U.S. Independence Day Celebrations Amid Trade Truce 
Future Retail Company revealed on Tuesday, Oct. 4, that it has terminated its franchise agreement with the American convenience store chain, 7-Eleven. The company stated that the canceled contract is for the operation of the said convenience store brand in India.
The leading retailer that operates multiple retail formats in the Indian consumer market said that the termination was due to the fact that 7-Eleven did not meet the targets of opening outlets and the payment of franchise fees.
As per Reuters, the decision to end the agreement was mutual between the companies. They first signed a contract in 2019, and at that time, it was announced that Future Retail Company would be operating 7-Eleven’s first store in India.
However, the country’s local media reported that due to the COVID-19 pandemic, the franchise agreement was never implemented up to this day. And as reported, the latest development only led to the contract termination because of financial issues and other things.
Based on the original plan, Future Retail Company will be building and opening new 7-Eleven outlets in the country and will convert some of its existing stores to feature the American convenience store brand. At any rate, in a statement to the stock exchanges, the company said the cancellation would not have an effect on the Indian company’s business - financially or in other forms.
“Pursuant to Regulation 30 and other applicable provisions of SEBI Listing Regulations, we would like to refer to Master Franchise Agreement dated 28th February 2019, executed between Future7-India Convenience Limited, Company’s wholly-owned subsidiary (Future-7) and 7-Eleven INC,” part of Future Retail’s regulatory filing reads as posted on Live Mint.
It was added, “Also executed by the Company and Future Corporate resources Private Limited as confirming party and Controlling Principal for developing and operating 7-Eleven stores within India is now terminated pursuant to the execution of Mutual Termination Agreement executed among the Company, Future-7, 7-Eleven, INC and FCRPL on 05th October 2021.”
Meanwhile, India’s the Future group already owns a line of branded stores under the Nilgiris label, and the only difference with 7-Eleven is that it offers services for 24 hours and seven days a week. It was also noted that the US-based convenience stores do not only offer groceries, but there are extra services as well that customers can easily access.
