Economy

BlackRock upgrades outlook for US stocks

The world’s biggest asset manager BlackRock Inc (BLK.N) upgraded its view on United States stocks, citing very strong earnings momentum, while cutting European stocks to neutral.

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Asian markets dip as investors look for clues

Asian markets largely dipped Tuesday as holiday closures saw muted activity in Europe at the start of the week, with investors searching for trading leads.

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UN warns of rising food insecurity across Africa

About 224 million people are suffering from malnutrition across Africa as climate change and conflicts heighten food insecurity across the continent, a top UN food agency official said Monday.

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Indian shares slump as banks still reel under PNB fallout

Indian shares declined for a second straight session on Monday as state-run lenders fell further amid continued worries about the fallout from a $1.77 billion fraud reported by Punjab National Bank last week.

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ECB stops all ABLV Bank payments amid US corruption

The European Central Bank stopped all payments by Latvian lender ABLV Bank on Monday as its liquidity position has deteriorated after accusations by United States authorities of breaching sanctions against North Korea, it said on Monday.

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US probe looking at Kushner foreign business contacts

Special counsel Robert Mueller is probing Jared Kushner's efforts to get foreign investors beyond Russia to provide financing for his company during the presidential transition, including in China.

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KFC closes most UK stores due to chicken shortage

Fastfood chain, KFC, said on Monday it had been forced to close hundreds of its British stores because of a shortage of chicken.

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Somali traders shutdown market, protest tax hikes

Somali traders boycotted business on Sunday to protest tax hikes imposed by the government. Stalls in Mogadishu's sprawling Bakara market; a lifeline for the city and surrounding areas, remained closed for the day.

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SA's Clicks employees to share $110 million through BEE

Retailer Clicks said on Monday over 5 800 employees would share R1.3 billion ($110 million) as the first 50% payout under its broad-based black economic empowerment (BEE) scheme.

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Oil hits highest in Asian equity recovery

Oil prices extended gains to hit their highest level in nearly two weeks on Monday, buoyed as Asian shares joined a global recovery in equity markets and as worries grew over tensions in the Middle East.

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