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Staff At Two U.K. McDonald’s Restaurants Vote For First Strike

Staff At Two U.K. McDonald’s Restaurants Vote For First Strike

McDonald’s Corp. workers at two restaurants in England have voted in favor of a strike, in what would be the first industrial action by staff of the American fast-food chain in the U.K. Employees at one site in Crayford, near London, and a second in Cambridgeshire were balloted following a dispute over the use of zero-hour […]

Aliko Dangote To Invest Up To $50 Billion In U.S., Europe

Aliko Dangote To Invest Up To $50 Billion In U.S., Europe

Africa’s richest man, Aliko Dangote, plans to invest $20 billion to $50 billion in the U.S. and Europe by 2025, in industries including renewable energy and petrochemicals. The 60-year-old Nigerian cement tycoon aims to move into these territories for the first time in 2020 after completing almost $5 billion of agricultural projects and an $11 […]

America Again Owes More Money To China Than Any Other Nation

America Again Owes More Money To China Than Any Other Nation

China’s vast holdings of U.S. government debt jumped $44 billion to $1.15 trillion in June, according to U.S. Treasury Department data. That took China above Japan, which offloaded $21 billion in U.S. bonds in the month. Japan had held the position of Uncle Sam’s biggest creditor for the previous eight months, but Beijing’s renewed appetite for […]

Egypt’s Beltone Financial To Launch $1 bln Fixed Income Fund: CEO

Egypt’s Beltone Financial To Launch $1 bln Fixed Income Fund: CEO

gypt’s Beltone Financial will launch a $1 billion investment fund in fixed income instruments in September, its chief executive officer told Reuters on Monday. The investment bank aims to raise $150-200 million in the first phase of the investment fund, Bassem Azzab said. Beltone aims to acquire brokerages in Egypt and frontier markets, Azzab said. […]

Travis Kalanick Sued By Major Uber Investor

Travis Kalanick Sued By Major Uber Investor

Kalanick is being sued by Benchmark, a Silicon Valley venture capital firm that was an early investor in Uber. Benchmark filed a complaint on Thursday; the news was first reported by Axios. Kalanick, who denies the suit’s allegations, stepped aside from his CEO duties in June. Investors including Benchmark urged him to resign following a series of crises […]

Kenya Shilling Firms After Peaceful Election

Kenya Shilling Firms After Peaceful Election

The Kenyan shilling strengthened against the dollar on Wednesday as early results from a peaceful election showed President Uhuru Kenyatta in a commanding lead, traders said. At 0657 GMT, commercial banks quoted the shilling at 103.70/90 per dollar compared with 103.95/104.05 at Monday’s close. Markets were closed during Tuesday’s session as Kenyans voted for president […]

South Africa’s Rand Weakens Slightly Ahead Of Zuma No-Confidence Vote

South Africa’s Rand Weakens Slightly Ahead Of Zuma No-Confidence Vote

South Africa’s rand drifted lower on early Tuesday, giving back some gains after rallying to its firmest level in a week as some investors bet a no-confidence vote by secret ballot against President Jacob Zuma could see him ousted. At 0650 GMT the rand was 0.13 percent weaker at 13.2375 per dollar compared with an […]

Intimidation Tactics Gagging Traders in Kenya’s Currency Market

Intimidation Tactics Gagging Traders in Kenya’s Currency Market

Kenya’s central bank is taking an unusual approach to protecting its currency: intimidation. Monetary authorities in Nairobi have been cracking down on selling, hedging and even making bearish predictions, according to traders and analysts. In a sign of the skittishness, none of 12 market participants contacted by Bloomberg spoke on the record, citing possible retaliation. […]

Uganda, Tanzania Start Work On Construction Of $3.5bn Oil Pipeline

Uganda, Tanzania Start Work On Construction Of $3.5bn Oil Pipeline

  The leaders of Tanzania and Uganda laid a foundation stone on Saturday for the construction of a $3.55 billion-crude export pipeline that would pump Ugandan oil for international markets. The 1,445 km-project – set for completion by 2020 – will stretch from landlocked Uganda’s western region, where crude reserves were discovered in 2006, to […]

Ghana Produces Biggest Cocoa Crop in Six Years

Ghana Produces Biggest Cocoa Crop in Six Years

Ghana has recorded its biggest cocoa harvest in six years, according to two people familiar with the matter, after favorable weather conditions boosted output in the world’s second-biggest grower. Graded and sealed deliveries since the beginning of the season in October reached 909,493 metric tons by July 27, said the people, who asked not to […]