BlackRock raises U.S. equities to overweight on earnings momentum
LONDON (Reuters) – The world’s biggest asset manager BlackRock has upgraded its view on U.S. equities to “overweight”, citing very strong earnings momentum, while cutting European stocks to neutral.
Global mining deals jump 15 percent by value in 2017: EY
LONDON (Reuters) – The value of global mining and metals deals hit a four-year high in 2017, according to accountancy firm EY, as financial distress abated and companies sold off non-core assets.
KFC closes most of its UK stores due to chicken shortage
LONDON (Reuters) – Fast-food chain KFC said on Monday it had been forced to close hundreds of its British stores because of a shortage of chicken.
Deutsche Bank to cut at least 250 investment banking jobs -source
FRANKFURT (Reuters) – Deutsche Bank is cutting at least 250 investment banking jobs in locations including London and the United States, a person familiar with the matter told Reuters, adding that the figure could rise to as many as 500.
Russian magnate Deripaska to quit roles at his two biggest firms
MOSCOW (Reuters) – Russian billionaire Oleg Deripaska plans to step down as the president of the two companies he controls, aluminum giant Rusal and En+ Group , two sources familiar with the matter told Reuters.
Congress sets sights on federal cryptocurrency rules
WASHINGTON (Reuters) – Jolted by the global investment craze over bitcoin and other cryptocurrencies, U.S. lawmakers are moving to consider new rules that could impose stricter federal oversight on the emerging asset class, several top lawmakers told R…
Singapore competition agency to look closer at Uber tie-up with ComfortDelGro
SINGAPORE (Reuters) – Singapore’s competition commission said on Monday it plans to do further in-depth assessment of the tie-up between the city-state’s top taxi operator, ComfortDelGro, and Uber [UBER.UL], after an initial review.
World stocks extend global recovery, set for sixth day of gains
LONDON (Reuters) – World stocks were set for a sixth session of gains on Monday, extending a recovery from a selloff sparked by fears of creeping inflation and higher borrowing costs.
Alibaba, Tencent rally troops amid $10 billion retail battle
SHANGHAI (Reuters) – China’s tech giants Alibaba Group Holding Ltd and Tencent Holdings Ltd , worth a combined $1 trillion, are on a retail investment binge, forcing merchants to choose sides amid a battle for shoppers’ digital wallets.
South Korea’s Moon bemoans GM plant closure move, calls on government to help workers
SEOUL (Reuters) – South Korean President Moon Jae-in said on Monday General Motors Co’s (GM) decision to shut down a factory south of Seoul will hurt that region, and called upon his administration to take measures to boost economic activity there.
