7-Eleven, which is owned by Japanese Seven & I Holdings, will close 444 stores in the U.S. and Canada due to rising costs spurred by high interest rates and changing consumer habits, which are to some degree influenced by interest rates, but also by the decline in cigarette sales. The overarching goal is to align the company’s position with its long-term growth strategy, which means optimizing its portfolio to ensure its convenience locations are just that: convenient for its customers. As such, it will close many non-core assets while...

General Motors has announced plans to establish a joint venture (JV) with Lithium Americas Corp., an agreement that includes a $625 million investment of cash and credit in the Canadian mining business to create a pipeline for raw materials that are crucial to the growth of its all-electric vehicle business. The agreement includes the development, construction, and operation of a lithium carbonate mining operation in Humboldt County, Nevada called Thacker Pass, which GM will have a 38 percent interest in. Not only will the mine help to ensure...

Recognized for its robust end-to-end infrastructure solutions, SGH and SMART Global Holdings, Inc. has completed a brand transition to become Penguin Solutions, Inc. a transition that reflects the company’s commitment to providing the market with high-performance computing (HPC) solutions under one unified offering. Under the new name, Penguin will offer design, build, deployment and management of next-generation enterprise infrastructure for artificial intelligence (AI) and beyond. The expertise and capabilities of Penguin Solutions promise...

Mercer Peace River Pulp Ltd. pleaded guilty to one count of violating the Fisheries Act and was fined $1 million after it was found to have deposited toxic wastewater into the Peace River, which it operates alongside in Alberta. The company was found in violation of federal environmental legislation after an investigation by Environment and Climate Change Canada determined that it had deposited or permitted the deposit of more than 30 million litres of effluent that is toxic to fish into the river. The pulp mill’s wastewater treatment system...