Shares fall as Oversea-Chinese Banking Corp. Drops, While UOB Misses Estimates

Shares of Oversea Chinese Banking Corp (OCBC) fell 1.7 percent, and United Overseas Bank (UOB) slid 1.9 percent, the biggest decline this year that occurred on the same day.   With this, the Singapore Banks are bracing themselves for the newer challenges from slowing economy, and China-U.S. trade tensions. Moreover,

Fed Minutes Show “It Was Not Yet Clear” What Rate Moves Are Needed In 2019

Federal Reserve is broken into two camps about future interest rates moves, according to the Minutes of Federal Open Market Committee (FOMC), Jan 29-30, 2019.   One camp of ‘several’ officials raised a point that rate increase is needed if the inflation outcomes are higher than baseline forecast. However, another

Stocks Drop, Asian Stocks Declined as Trump-Kim Summit Ends

Donald Trump, the United States President, walked out of his second summit with Kim Jong Un as two leaders were not able to agree on a deal. The deal was to relieve North Korea of U.S. sanctions in exchange for Pyongyang. Trump said it was about the sanctions. They wanted

Glencore to Cap Coal Output in Climate Change

Glencore Plc, the most prominent coal miner in Australia and the world’s largest coal exporter, has bowed to the global anti-coal lobby. Due to the investors’ pressure for action on climate change, the coal giant has decided to cap its international coal output at 2019 levels. Australia’s coal industry is