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<ul class="summary-list"><li>7-Eleven stores in Japan usually have a wider variety of food than their US counterparts.</li><li>That variety is now coming to the US.</li></ul>When Americans land at busy Japanese airports like Haneda or Narita for the first time, it has become a trend for these jet-lagged travelers to drag their luggage toward a <a target="_blank" href="https://www.businessinsider.com/7-eleven-favorite-spot-traveling-to-japan-2023-7">konbini like 7-Eleven</a> before checking in at a hotel.Despite 7-Eleven either operating, franchising, or licensing more than 13,000 stores in North America, its Japanese branches form part of a distinct convenience store culture — led by other konbini chains like FamilyMart and Lawson — that has <a target="_blank" class="" href="https://www.businessinsider.com/what-japan-convenience-store-looks-versus-us-7-eleven-photo-tour">given them top billing on tourist itineraries.</a>TikTok and <a target="_blank" href="https://youtu.be/lzIudok713k?si=KyOxMpWnuTTwhjpQ">YouTube vlogs</a> guiding first-time visitors highlight not only popular locations, like Shibuya Scramble Crossing and the ancient Buddhist Sensō-ji temple in Tokyo's Asakusa area but also a menu of konbini offerings that America's 7-Eleven's struggle to match.Hot dogs and Slurpees in stateside stores give way to a variety of foods and drinks such as onigiri rice balls, cheap fried chicken, egg sandwiches on milk bread, and make-your-own frozen smoothies that are kept fresh on shelves with multiple daily deliveries informed by sales data.These convenience stores also double up as pit stops that live up to their name by offering customers access to ATMs and printers, as well as other services like bill payments and buying concert tickets.They are night and day from their US counterparts, then. That said, Americans who want to enjoy some of the <a target="_blank" class="" href="https://www.businessinsider.com/japan-loves-vending-machines-cash-new-banknotes-wont-work-upgrades-2024-7">Japanese </a>7-Eleven magic closer to home won't have to wait much longer.<h2 id="2d7fcbf1-f005-4a9c-919b-092232238174">America's 7-Elevens get a Japanese makeover</h2><div type="image" title="7-eleven" height="683" width="1024" msid="112063005" hostid="261" sizebytes="32658"></div>Though 7-Eleven started in Dallas in 1927 as an American company that sold ice, it has been wholly owned by Tokyo-headquartered retail conglomerate 7 &amp; i Holdings since 2005.This year, its CEO Ryuichi Isaka — who has led <a target="_blank" class="" href="https://www.businessinsider.com/7-eleven-layoffs-firing-restructuring-speedway-2022-7">multibillion-dollar acquisitions of competitors like Speedway</a> in the US — has made clear that he is ready to give larger 7-Eleven US branches a makeover that puts them more in line with the Japan stores.It feels like a much-needed move.Typical drivers of sales at American convenience stores, such as cigarettes and gasoline, have started to decline or are projected to decline, leading Isaka to seek a strategy that gives US 7-Elevens new life.As Isaka told Bloomberg in February, that strategy is now all about getting "fresh food" on shelves. "We are in the process of building a system to supply fresh, high-quality products to stores," he said at the time.That process is being helped by Warabeya Nichiyo, a key food supplier for 7-Eleven Japan, as it looks to build its third plant in the US, costing $81.5 million.It is also being helped by an intricate data system that gives real-time oversight of items being sold to help determine what shipments need to be made to restock a store at different times of the day.The Wall Street Journal reported that America's 7-Elevens were at one point only receiving two deliveries per week, with many items being ordered that consumers had little to no interest in. That was clearly a waste.American consumers can expect to see products on shelves at their local 7-Elevens that they might previously have had to venture all the way to Japan to buy, as well as a fresher variety of options that meet the tastes of locals.In a statement, 7-Eleven told BI that the company was working with its partners in Japan to "introduce new items like chicken teriyaki rice balls, miso ramen, and sweet chili crisp wings to US customers.""We are constantly evolving the fresh food assortment in our stores, tailoring the offerings at each location to meet the needs and preferences of local customers," the company said.Instagram user @greenonionbun, based in Orange County, California, <a target="_blank" class="" href="https://www.instagram.com/reel/C90uXtYy38p/?igsh=MTYxaDk3bXlpYjlzOQ%3D%3D">posted</a> about a trip she said she'd taken to a local 7-Eleven after hearing that the convenience store chain was going to start stocking Japanese snacks in the US.She said the egg sandwiches seemed more Japanese-style as they were made with fluffy milk bread, for example, but there were subtle differences, too.Good news for Americans wanting to taste Japan's 7-Eleven selections: they should soon be able to get similar bites closer to home to satisfy cravings until their next trip to the country.

America's 7-Eleven stores are about to get a Japanese makeover

<ul><li><keyword id="21837377" type="General" weightage="20" keywordseo="Realme-GT-7-Pro" source="Orion">Realme GT 7 Pro</keyword> is scheduled to launch in India on November 26.</li><li>The device is equipped with the Snapdragon 8 Elite chipset.</li><li>Here’s everything you need to know about the upcoming flagship smartphone.</li></ul> Realme is all set to launch its latest flagship smartphone, the Realme GT 7 Pro in India on November 26. The GT 7 Pro will be the first smartphone with the<a href="https://www.businessinsider.in/tech/mobile/news/snapdragon-8-elite-announced-to-power-iqoo-13-oneplus-13-xiaomi-15-series-and-more/articleshow/114463844.cms"> Qualcomm Snapdragon 8 Elite</a> chipset to launch in India. The Snapdragon 8 Elite chipset is the successor of the Snapdragon 8 Gen 3. While the<a href="https://www.businessinsider.in/tech/mobile/news/oneplus-13-announced-with-snapdragon-8-elite-6000mah-battery-and-more/articleshow/114842638.cms"> OnePlus 13</a> with the Snapdragon 8 Elite chipset has already been announced in China, the Realme GT 7 Pro will be the first device with the chipset to debut in India. <div type="Article" hostid="261" msid="114842638" title="OnePlus 13 announced with Snapdragon 8 Elite, 6,000mAh battery and more" mstype="2" mssubtype="0"></div> The Realme GT 7 Pro was announced in China on Monday, giving us our first look at the device ahead of its India launch. <h2><keyword id="23717507" type="General" weightage="100" keywordseo="realme-gt-7-pro-price-in-india" source="Orion">Realme GT 7 Pro price in India</keyword></h2>The Realme GT 7 Pro has been priced starting at CNY 3,699 (approx. 43,800). The device is expected to be priced at around ₹45,000 in India, considering the device has always been priced competitively. <h2><keyword id="21837379" type="General" weightage="20" keywordseo="Realme-GT-7-Pro-india-launch" source="Orion">Realme GT 7 Pro India launch</keyword></h2>The Realme GT 7 Pro is scheduled to launch in India on November 26, 2024 at 12 PM. <h2>Realme GT 7 Pro specifications</h2>The Realme GT 7 Pro runs on Android 15 out of the box with the company’s Realme UI 6.0 on top. The device will get three years of Android updates and four years of security updates. It features a 6.78-inch 8T LTPO Eco OLED Plus display with a 1-120Hz refresh rate, up to 2,000 nits global maximum brightness, 6,000 nits peak brightness, Dolby Vision and 2600Hz high-frequency PWM dimming. It also features hardware-level DC dimming. The Realme GT 7 Pro is equipped with the Snapdragon 8 Elite and comes in five variants – 12GB RAM + 256GB internal storage, 16GB RAM + 256GB internal storage, 12GB RAM + 512GB internal storage, 16GB RAM + 512GB of internal storage and 16GB RAM + 1TB internal storage. <div type="Article" hostid="261" msid="114944496" title="Reliance Jio IPO – India’s biggest telco to go public in 2025, retail IPO further away" mstype="2" mssubtype="0"></div> At the moment, there is no information on which variants will be launched in India, but we expect the device to be available in three variants, skipping the top two variants being offered in China. Coming to the camera department, the device features a triple camera setup at the back consisting of a 50MP primary camera with Sony IMX906 sensor, OIS, an 8MP ultra-wide-angle camera with the Sony IMX882 sensor and a 50MP periscope telephoto camera with 3x optical zoom. On the front, the device sports a 16MP selfie camera. The Realme GT 7 Pro is powered by a 6,500mAh battery, which is the largest in the segment and beats the OnePlus 13’s 6,000mAh battery. The battery comes with 120W fast charging support, which can charge the device to 50% in 14 minutes. It is a silicon-carbon negative electrode battery, which the company claims has the industry’s highest silicon content at 10%. The Realme GT 7 Pro features an in-display ultrasonic fingerprint sensor and comes with IP68+IP69 water and dust resistance. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-13-announced-with-snapdragon-8-elite-6000mah-battery-and-more/articleshow/114842638.cms">OnePlus 13 announced with Snapdragon 8 Elite, 6,000mAh battery and more</a> <a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-shipments-up-3-in-q3-vivo-leads-the-market/articleshow/114840345.cms">Indian smartphone shipments up 3% in Q3, Vivo leads the market</a> <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-ipo-indias-biggest-telco-to-go-public-in-2025-retail-ipo-further-away/articleshow/114944496.cms">Reliance Jio IPO – India’s biggest telco to go public in 2025, retail IPO further away</a>

Realme GT 7 Pro with Snapdragon 8 Elite, 6,500mAh battery to launch in India on November 26

<ul class="summary-list"><li>7-Eleven is owned by a Japanese company, but maybe not for much longer.</li><li>Seven &amp; i Holdings has received a takeover bid from a Canadian rival.</li></ul>For almost two decades, a Japanese company has controlled America's most popular convenience store chain. That could be about to change.On Monday, Tokyo-headquartered retail conglomerate Seven &amp; i Holdings, <a target="_blank" class="" href="https://www.businessinsider.com/7-eleven-favorite-spot-traveling-to-japan-2023-7">owner of 7-Eleven</a>, said it had received a takeover bid from Canada's Alimentation Couche-Tard, operator of rival convenience store chain Circle K.<a target="_blank" class="" href="https://www.7andi.com/library/dbps_data/_material_/localhost/en/release_pdf/2024_0819_ir01en.pdf">In a statement</a>, Seven &amp; i said it would review the proposal after setting up a special committee of independent directors, but has not decided whether to accept or reject the offer.A change in ownership would be a big deal for a few reasons.For one, Couche-Tard's bid marks the biggest attempt by a foreign entity to take over a Japanese company, per Dealogic data dating back to 1995, CNN reported. An outside bid for a Japanese business is a relatively rare occurrence. Some Japanese companies such as car manufacturer Mazda have been part-owned by outsiders like Ford in the past, but it is rare to see Japanese companies give up majority control to foreign buyers. One exception to the rule was Taiwan's Foxconn taking a roughly 66% stake in Osaka-based electronics giant Sharp following a <a target="_blank" href="https://www.wsj.com/articles/taiwans-foxconn-completes-deal-to-acquire-sharp-1470994207">$3.8 billion deal</a> in 2016.<h2 id="952d2821-0563-40bc-8f05-73c83527345f">Undervalued</h2>It could also trigger a huge shake-up of the company responsible for bringing hot dogs and Slurpees to its iconic convenience stores.Shares in Seven &amp; i jumped about 23% on Monday, valuing the company at about $38 billion. The Japanese company has been circled in recent years by investors convinced that it was undervalued.Although Seven &amp; i's <a target="_blank" href="https://www.7andi.com/en/group/">85,000-plus stores</a> massively outnumber Couche-Tard's 14,000 sites, for instance, the Canadian company was worth almost twice as much as the 7-Eleven owner before news of the bid broke.Investor pressure has risen after <a target="_blank" href="https://www.reuters.com/markets/deals/japan-releases-new-ma-guidelines-promote-takeovers-consolidation-2023-08-31/">new rules were introduced in Japan last year</a> to make mergers and acquisitions of domestic companies less difficult.San Francisco-based ValueAct has also been tough on Seven &amp; i in recent years. After the activist investor revealed a stake in 2021, it piled pressure on the Japanese company to restructure and put more focus on 7-Eleven over its other brands.Seven &amp; i had already started a shake-up of 7-Eleven stores in the US to make them more like their Japanese counterparts.Though 7-Eleven started life as an American company in the 1920s, its Japanese branches have gained wider visibility and popularity given the greater variety of fresh food and snacks on their shelves that have make them an <a target="_blank" class="" href="https://www.businessinsider.com/7-eleven-japan-convenience-store-makeover-food-2024-7">attraction for tourists</a>.

The Canadian company behind Circle K wants to buy 7-Eleven's Japanese owner in a blockbuster deal 

Back in November 2022, when <keyword id="19918826" type="General" weightage="20" keywordseo="ChatGPT" source="keywords">ChatGPT</keyword> was launched for the public, interest around <keyword id="19896272" type="General" weightage="20" keywordseo="generative-AI" source="keywords">generative AI</keyword> reached new heights. The AI chatbot’s ability to respond to questions in a manner as if a human being was talking left many people surprised as well as awestruck. Soon, AI became a buzzword in the tech industry and investors started pouring funds heavily into AI companies. <h2><keyword id="19959576" type="General" weightage="100" keywordseo="Dunzo" source="keywords" meta.keywordsubtype="org" meta.entityname="Dunzo" meta.hostid="261" meta.entityid="Dunzo">Dunzo</keyword> co-founder staring his <keyword id="20128843" type="General" weightage="20" keywordseo="AI-company" source="keywords">AI company</keyword></h2>In May, an Economic Times report based on insights from market research firm Tracxn said that AI startups in India have already raised USD 91.7 million in funding so far this year, which is a significant increase from USD 29.6 million during the same period last year. And now, former <a href="https://www.businessinsider.in/business/startups/news/quick-commerce-platform-dunzo-lays-off-30-of-its-workforce/articleshow/99290084.cms" data-type="tilCustomLink" target="_blank">Dunzo </a>chief <keyword id="22628971" type="General" weightage="20" keywordseo="Mukund-Jha" source="keywords">Mukund Jha</keyword> is reportedly looking forward to start his own AI company. A Moneycontrol report citing sources said that Jha is in discussions to raise between Rs 50-80 crore (approximately $6-10 million) from <keyword id="22628972" type="General" weightage="20" keywordseo="Together-Fund" source="keywords" meta.keywordsubtype="org" meta.entityname="Together Fund" meta.hostid="261" meta.entityid="Together Fund">Together Fund</keyword> for his new venture. This comes after Jha stepped down from the board of the cash-strapped startup Dunzo last year. Jha's new venture reportedly focuses on generative <a href="https://www.businessinsider.in/business/startups/news/ai-startup-neysa-raises-20-mn-from-matrix-partners-nexus-venture-partners-more/articleshow/109181059.cms" data-type="tilCustomLink" target="_blank">artificial intelligence</a> (Gen AI) and aims to automate quality assurance (QA) processes. "Think of it as a blend of AI and SaaS," an insider told Moneycontrol. QA involves creating and running tests, identifying errors, and providing feedback to ensure products meet quality standards. <h2>What happened with Dunzo?</h2>The delivery startup Dunzo delivers essential goods like groceries, household items, fruits and vegetables, pet supplies, pharmaceuticals etc to people locally. Supported by <keyword id="19901342" type="General" weightage="20" keywordseo="Reliance-Retail" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Retail" meta.hostid="261" meta.entityid="Reliance Retail">Reliance Retail</keyword>, the startup has faced strong competition from companies like Zepto, Swiggy, and BlinkIt. Despite raising around $500 million, Dunzo has struggled to secure additional investment and manage payroll. In February, there were rumors that Flipkart might acquire the platform, but there have been no updates on this matter since. Dunzo, on the other hand, was making headlines earlier this year for facing various financial struggles. The company’s top investor Lightbox also exited in May this year. On the other hand, the company is reportedly experiencing a cash crunch and owes approximately Rs 11.4 crore to various vendors, including Google India, Nilenso, Clover Ventures, Facebook India, Cupshup, Koo, and Glance. <h2>About Together Fund</h2>Together Fund, from which Jha is reportedly going to raise funds for his new venture, has invested in over 20 companies across various SaaS sectors, including recruitment, sales intelligence, marketing, healthcare, and cloud solutions for connected devices. “Our areas of focus span across SaaS, enterprise software, developer tools, open source software, cloud-native infrastructure and API-first businesses. We typically invest early (seed, pre A or series A) to help founders through the crucial zero-to-one part of their journey,” the company’s website reads. Together Fund was founded in 2021 by Girish Mathrubootham of Freshworks, Manav Garg of Eka Software, and Shubham Gupta formerly of Matrix Partners India. It initially raised USD 85 million for its first fund and increased the total to USD 150 million with its second fund announced in 2023

Dunzo co-founder Mukund Jha plans to start his own AI company, seeks to raise up to Rs 80 crore from Together Fund

<keyword id="19938772" type="General" weightage="20" keywordseo="Reliance-Industries-Ltd" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Industries Ltd" meta.hostid="261" meta.entityid="Reliance Industries Ltd">Reliance Industries Ltd</keyword> on Monday reported an almost flat March quarter net profit, while its annual earnings hit a record high on the back of a recovery in its core oil and petrochemicals business and sustained momentum across the consumer-facing telecom and retail businesses. The oil-to-telecom-and-retail conglomerate's consolidated net profit stood at Rs 18,951 crore, or Rs 28.01 per share, in January-March quarter of the 2023-24 fiscal compared to Rs 19,299 crore, or Rs 28.52 a share, a year ago, according to a company's stock exchange filing. The profit was, however, higher quarter-on-quarter when compared to Rs 17,265 crore in October-December period. For the full fiscal FY24 (April 2023 to March 2024), Reliance posted a record net profit of Rs 69,621 crore as compared to Rs 66,702 crore earnings in the preceding financial year. Reliance also became the first Indian company to hit Rs 10 lakh crore turnover in FY24 when revenue from operations rose 2.6 per cent from Rs 9.74 lakh crore in 2022-23. The oil-to-chemicals (O2C) business, the main milch cow, posted a rise in profitability annually as well as sequentially, while retail business' earnings rose on new store openings despite lower footfalls. The firm helmed by billionaire <keyword id="19916798" type="General" weightage="20" keywordseo="Mukesh-Ambani" source="keywords">Mukesh Ambani</keyword> saw telecom revenues soar as it outpaced competition in subscriber addition and data traffic. While quarterly EBITDA (earnings before interest, taxes, depreciation, and amortization) was up 14.3 per cent year-on-year to Rs 47,150 crore, registering growth across all businesses, the revenue from operations rose almost 11 per cent to Rs 2.64 lakh crore. The mainstay oil refining and petrochemicals business, called O2C, posted a 11 per cent rise in revenue and a 3 per cent higher EBITDA at Rs 16,777 crore in Q4. This was primarily because of "advantageous" sourcing of feedstock (crude oil) for refining business and use of ethane for making chemicals as well as higher domestic product placement, a company statement said, adding exports were down 8.5 per cent. With the consumer base swelling to 481.8 million from 470.9 million at the end of December on a flat per-user revenues of Rs 181.7, Reliance <keyword id="21397660" type="General" weightage="20" keywordseo="Jio-Infocomm-Ltd" source="keywords" meta.keywordsubtype="org" meta.entityname="Jio Infocomm Ltd" meta.hostid="261" meta.entityid="Jio Infocomm Ltd">Jio Infocomm Ltd</keyword> - the digital services business - posted a 12 per cent rise in net profit at Rs 5,583 crore in the fourth quarter of FY24. Also, aiding the business was rise in data traffic to 40.9 billion GB in January-March from 38.1 billion GB in the preceding quarter. For the full year, Jio posted a profit of Rs 21,424 crore as compared to Rs 19,124 crore in FY23. Profits from the retail business climbed 11.7 per cent to Rs 2,698 crore as store count rose to 18,836 from 18,774. Store footfalls dropped to 272 million from 282 million in October-December 2023 but were higher than 219 million recorded in January-March 2023. Oil and gas EBITDA soared 47.5 per cent to Rs 5,606 crore as higher gas volumes partly offset lower price realisation. The firm's flagship KG-D6 block in Krishna Godavari basin in the Bay of Bengal is now producing about 30 million standard cubic metres per day of gas and 23,000 barrels a day of oil/condensate. The company said its outstanding debt rose to Rs 3.24 lakh crore from Rs 3.11 lakh crore in December-end. After accounting for cash in hand, net debt at Rs 1.16 lakh crore as on March 31 was lower than Rs 1.25 lakh crore a year back. Mukesh Ambani, Chairman and Managing Director of <keyword id="20076630" type="General" weightage="20" keywordseo="reliance-industries-limited" source="keywords">Reliance Industries Limited</keyword>, said all segments of business have posted a robust financial and operating performance. "This has helped the Company achieve multiple milestones. I am happy to share that this year, Reliance became the first Indian company to cross the Rs 1 lakh-crore threshold in pre-tax profits," he said. Performance of the digital services segment has been boosted by accelerated expansion of subscriber base, supported by both mobility and fixed wireless services, he said. "With over 108 million True 5G customers, Jio truly leads the 5G transformation in India." <keyword id="19901342" type="General" weightage="20" keywordseo="reliance-retail" source="keywords">Reliance Retail</keyword>, he said, continued to provide customers endless choices through its robust omni-channel presence. "We continue to offer product differentiation and superior offline experience through stores re-modelling and revamping of layouts. Our digital commerce platforms also provide newer solutions to users with a broad brand catalogue," Ambani said. Strong demand for fuels globally, and limited flexibility in refining system worldwide supported margins and profitability of the O2C segment. "Downstream chemical industry experienced increasingly challenging market conditions through the year. Despite headwinds, maintaining leading product positions and feedstock flexibility through our operating model that prioritises cost management, we delivered a resilient performance," he said. "We remain committed to our projects and initiatives, including those in the new energy segment, which will bolster the company, and help it deliver sustainable growth for the future," he added. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/vodafone-idea-fpo-allotment-how-to-check-allotment-gmp-and-more/articleshow/109504341.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/vodafone-idea-fpo-allotment-how-to-check-allotment-gmp-and-more/articleshow/109504341.cms" target="_blank">Vodafone Idea FPO allotment – How to check allotment, GMP and more</a><a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-8a-may-be-more-expensive-than-its-predecessor-as-per-a-new-leak/articleshow/109499394.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-8a-may-be-more-expensive-than-its-predecessor-as-per-a-new-leak/articleshow/109499394.cms" target="_blank">Google Pixel 8a may be more expensive than its predecessor, as per a new leak</a><a href="https://www.businessinsider.in/sports/webstories/at-17-indian-chess-prodigy-d-gukesh-becomes-youngest-challenger-for-world-championship/slidelist/109492021.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/webstories/at-17-indian-chess-prodigy-d-gukesh-becomes-youngest-challenger-for-world-championship/slidelist/109492021.cms" target="_blank">At 17, Indian chess prodigy D Gukesh becomes youngest challenger for World Championship</a>

Reliance Industries quarterly profit stays flat; annual earnings hit record at ₹69,621 crore

<keyword id="19903807" type="General" weightage="100" keywordseo="Elon-Musk" source="keywords">Elon Musk</keyword>, the CEO of electric car maker Tesla and rocket manufacturer <keyword id="19905255" type="General" weightage="20" keywordseo="SpaceX" source="keywords" meta.keywordsubtype="org" meta.entityname="SpaceX" meta.hostid="261" meta.entityid="SpaceX">SpaceX</keyword>, may become the world's first <keyword id="20204152" type="General" weightage="20" keywordseo="trillionaire" source="keywords">trillionaire</keyword> by 2027, while Indian tycoon <keyword id="19929098" type="General" weightage="20" keywordseo="Gautam-Adani" source="keywords">Gautam Adani</keyword> may attain that status in the following year, and Asia's richest man <keyword id="19916798" type="General" weightage="20" keywordseo="Mukesh-Ambani" source="keywords">Mukesh Ambani</keyword> may do so in 2033, according to an Informa Connect Academy report. For Musk, the richest in the world with $237 billion net worth, to become the world's first trillionaire, his wealth needs to grow at an average annual growth rate of 110%, the report said. <keyword id="19898586" type="General" weightage="20" keywordseo="Adani" source="keywords">Adani</keyword>, who is ranked 13th on the world billionaire index with a wealth of just under $100 billion, maybe the second trillionaire (net worth equal to at least one trillion US dollars) if his ports-to-power conglomerate was to continue growing at the current 123% average annual rate, it added. Rival <keyword id="19898589" type="General" weightage="20" keywordseo="Ambani" source="keywords">Ambani</keyword>, now ranked Asia's richest with a net worth of $111 billion, may achieve the same status in 2033, according to the report. His oil-to-telecom-and-retail conglomerate is slated to hit trillion-dollar market cap status in 2035. Ambani's <keyword id="19938772" type="General" weightage="20" keywordseo="Reliance-Industries-Ltd" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Industries Ltd" meta.hostid="261" meta.entityid="Reliance Industries Ltd">Reliance Industries Ltd</keyword> is the only Indian company projected to hit that mark. The companies that will hit the trillion-dollar market cap mark include Taiwan's semiconductor maker TSMC, which has a market cap of $893.7 billion now and is expected to achieve that status in 2025. It will be closely followed by Berkshire Hathaway, pharma giant Eli Lilly, technology company Broadcom and electric automobile firm Tesla. The report said, "No one in the world has claimed trillionaire status - at least not yet. However, there are some likely candidates. The following are multi-billionaires who will probably become trillionaires sooner or later". After Elon Musk and Gautam Adani, NVIDIA founder Jensen Huang, Indonesian mogul Prajogo Pangestu, French businessman Bernard Arnault, and Facebook CEO <keyword id="19952202" type="General" weightage="20" keywordseo="mark-zuckerberg" source="keywords">Mark Zuckerberg</keyword> come next as prospective trillionaires. Currently, there are only a handful of companies that have crossed the $1 trillion in valuation. This includes Microsoft, Nvidia, Apple, Alphabet, Amazon, Saudi Aramco, and Meta. The most recent case is that of <keyword id="19921921" type="General" weightage="20" keywordseo="warren-buffett" source="keywords">Warren Buffett</keyword>'s Berkshire Hathaway in late August. Nvidia also joined the $ 1 trillion club in May 2023 and reached $ 3 trillion in June, becoming the second most valuable company in the world, with Microsoft ahead and Apple behind.

Elon Musk may be world's first trillionaire by 2027, Adani to touch the mark by 2028, Ambani in 2033: Report

New Delhi, <keyword id="58448" type="General" weightage="20" keywordseo="reliance-retail" source="Orion">Reliance Retail</keyword> has unveiled its all new <keyword id="10873635" type="General" weightage="80" keywordseo="jiobook" source="Orion">JioBook</keyword>, a lightweight and pocket-friendly 4G-LTE powered laptop designed to cater to all age groups. JioBook touted as 'India's First Learning Book' will be available at Rs 16,499 starting August 5, 2023, and customers can purchase JioBook from <keyword id="10926" type="General" weightage="50" keywordseo="reliance" source="Orion">Reliance</keyword> Digital's online and offline stores, as well as through Amazon.in. The JioBook packs a punch with stylish design featuring matte finish, and ultra slim built, and is light weight at 990 grams. It features 4G-LTE and dual-band WiFi capabilities, powerful octa-core chipset for smooth multitasking, 11.6-inch (29.46CM) anti-glare HD display, Infinity keyboard and large multi-gesture trackpad. With its advanced JioOS operating system, design and always-connected features, JioBook promises to redefine the learning experience for every individual. "We are dedicated to introduce innovative products that empower individuals in their learning journey. The all-new JioBook is our latest offering catering to learners of all ages with its advanced features and seamless connectivity options," Reliance Retail spokesperson said. The JioBook will transform the way people learn, opening new opportunities for personal growth and skill development, the spokesperson added. From attending online classes, to learning to code, or exploring new ventures such as starting a yoga studio or delving into online trading, JioBook aimed to provide an exceptional platform for all learning endeavours. Earlier this month, Jio had launched internet-enabled <keyword id="17888486" type="General" weightage="80" keywordseo="jio-bharat" source="Orion">Jio Bharat</keyword> phones at Rs 999, packing-in cheaper monthly plan of Rs 123 for unlimited voice calls and 14 GB data. At Rs 999, Jio Bharat was positioned as "the lowest entry price for an internet-enabled phone". The new offering aimed to accelerate the '2G Mukt Bharat' vision, as India still has 250 million mobile subscribers in the 2G era with feature phones. Beta trial for first 1 million Jio Bharat phones started from July 7, 2023. Brokerages tracking the sector had said that the launch of internet-enabled Jio Bharat phones at an "attractive pricing" will enable Jio to gain market share at the lower end segment and signals a reduced probability of tariff hike in the near term.

Reliance Retail unveils new JioBook laptop priced at Rs 16,499

<keyword id="19938772" type="General" weightage="20" keywordseo="Reliance-Industries-Ltd" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Industries Ltd" meta.hostid="267" meta.entityid="Reliance Industries Ltd">Reliance Industries Ltd</keyword> has won a vote of confidence from global rating agencies <keyword id="20043943" type="General" weightage="20" keywordseo="SP" source="keywords">S&amp;P</keyword> and <keyword id="19950093" type="General" weightage="20" keywordseo="Fitch" source="keywords">Fitch</keyword> after its robust earnings in the fiscal year ended March 31, 2024, supported its growth aspirations and kept leverage under check. S&amp;P Global Ratings and Fitch Ratings in separate notes spoke of its <keyword id="19957744" type="General" weightage="20" keywordseo="EBITDA" source="keywords">EBITDA</keyword> (loosely known as pre-tax profit) rising in the current fiscal year and next on rising revenue and past investments. "<keyword id="19896380" type="General" weightage="20" keywordseo="Reliance-Industries" source="keywords">Reliance Industries</keyword> Ltd's (<keyword id="20002939" type="General" weightage="20" keywordseo="ril" source="keywords">RIL</keyword>) strong earnings will keep leverage in check as the company continues to pursue growth ambitions. We expect the company's debt-to-EBITDA ratio to remain commensurate with the rating (BBB+/Stable/--)," S&amp;P said in a note. The oil-to-telecom-and-retail conglomerate's growth aspirations remain intact, it said, adding the company has ramped up investments in the media business in recent months. In 2024, it entered into binding definitive agreements with The Walt Disney Co for a media joint venture in which RIL will invest Rs 11,500 crore. The company subsequently agreed to buy Paramount Global's 13.01 per cent stake in local entertainment network Viacom18 Media Pte Ltd for about Rs 4,300 crore. "These investments are in line with RIL's strategy to diversify and have a strong presence in a few key industries," the rating agency said. Also, the company received government approval in 2024 to develop gas reserves in the KG-D6 block in the Bay Of Bengal. This could increase the company's gas production capacity by 13-17 per cent. RIL's earlier announced investments include a Rs 75,000 crore expansion plan over five years (starting 2022) for the oil-to-chemicals business. "RIL's earnings will benefit from past investments," S&amp;P said. "We project the company's adjusted EBITDA will rise 2-4 per cent in fiscal 2025 (year ending March 31, 2025)," it added. Just as in the past two years, the digital services segment (Reliance Jio Infocomm Ltd) will be the key growth driver, with segment's EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) increasing 10-12 per cent in fiscal 2025. Reliance Jio's wireless subscriber base and average revenue per user will gain from the company's investments in its 5G network since late 2022. Meanwhile, earnings in the oil and gas as well as retail segments will reap the rewards of increased production volume and a wider retail store network. "The EBITDA improvement that we expect in fiscal 2025 comes after a 14 per cent increase to Rs 1.6 lakh crore in fiscal 2024," it said. S&amp;P saw RIL's rising earnings providing it greater balance-sheet flexibility for growth. "We expect the combination of robust operating performances and continued spending to keep the company's debt-to-EBITDA ratio at 1.8x-2.0x over the next two years. This compares with our estimate of 1.7x for fiscal 2024 and our downgrade trigger of 2.5x," S&amp;P said. RIL's leverage has some distance from the upper end of the company's internal leverage target. RIL has reiterated its intention to keep its net debt-to-EBITDA ratio (by its own calculations) below 1x. The ratio was 0.65x as of March 31, 2024. Separately, Fitch Ratings said RIL's EBITDA net leverage is likely to remain below 1x in the medium term, supported by increasing cash flows and lower capex intensity, even as the conglomerate's absolute capex and investments remain high in the near term. "We expect RIL's EBITDA to increase by 8 per cent year-on-year in the financial year ending March 2025 (FY25) and 14 per cent in FY26, while capex intensity (capex/revenue) is likely to reduce below 13 per cent by FY26 (FY24: 15.3 per cent). Lower capex intensity would be driven by growing revenue and reduction in capex after FY25," it said. Fitch expected the conglomerate's Cash Flow from Operations (CFO) to be sufficient to fund its capex from FY26, which will limit additional debt funding and keep its EBITDA net leverage below 1.0x in the medium term (FY24: 0.9x, FY23: 1.1x). "Fitch estimates RIL's FY24 EBITDA net leverage at 0.9x, better than our expectation of 1.1x, driven by marginally higher EBITDA and Rs 20,900 crore of equity raised mainly from the sale of a stake in a subsidiary, even as its capex remained high at Rs 1.5 lakh crore (FY23: Rs 1.4 lakh crore)," the rating agency said in a statement. It rates RIL at 'BBB'/Stable, one notch above India's rating (BBB-/Stable). "We expect the EBITDA increase in the near to medium term to be driven by the telecom and retail businesses, supported by contribution from the upstream oil and gas segment and marginal recovery in petrochemical spreads in the oil to chemical (O2C) segment," Fitch said, adding EBITDA from digital services, largely telecom, is likely to benefit from a 10-15 per cent tariff hike and 15-20 million of additional subscribers in FY25 (FY24: 482 million subscribers). Digital services EBITDA rose by 13 per cent in FY24, as Reliance added 42 million subscribers and monthly average revenue per user increased to Rs 182. Monthly user data consumption increased by 24 per cent to 28.7 GB, one of the highest globally. Fitch expected retail EBITDA to increase by 20-25 per cent in FY25 (FY24: 28%) as Reliance continues to expand its physical stores and digital channels. EBITDA would be supported by a 22.2 per cent increase in its registered customer base to 304 million in FY24. Also, O2C segment EBITDA is expected to remain above Rs 60,000 crore in FY25 (FY24: Rs 62,400 crore), as a gradual improvement in petrochemical spreads from FY24 lows is expected as a supply overhang recedes. Upstream oil and gas EBITDA should stay at around Rs 20,000 crore in FY25 (FY24: Rs 20,200 crore), assisted by the expectation of a 10 per cent increase in gas production in the first full year of operation of three gas fields in the KG-D6 block, which should offset the potential reduction in price realisation with lower gas prices in international benchmarks. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/jnk-india-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/109597273.cms">JNK India IPO allotment – How to check allotment, GMP, listing date and more</a> <a href="https://www.businessinsider.in/tech/news/jiocinema-introduces-new-ad-free-premium-plans-starting-at-29/articleshow/109581033.cms">An Ambani disruption in OTT: At just ₹1 per day, you can now enjoy ad-free content on JioCinema</a> <a href="https://www.businessinsider.in/business/auto/webstories/ultraviolette-f77-mach-2-electric-sports-bike-launched-in-india-starting-at-2-99-lakh/slidelist/109615934.cms">Ultraviolette F77 Mach 2 electric sports bike launched in India starting at ₹2.99 lakh</a>

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