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Oil drops as market awaits news on trade talks, oversupply concerns weigh

November 12, 2019 admin Comments Off on Oil drops as market awaits news on trade talks, oversupply concerns weigh

U.S. oil prices fell for a second day on Tuesday, weighed down by uncertainty over whether U.S.-China trade talks are making much progress, while higher Saudi Arabian crude output reinforced concerns about oversupply. U.S. West Texas Intermediate (WTI) crude was down 18 cents, or 0.3%, at $56.68 a barrel. Brent crude futures were down 14 cents, or 0.2%, at $62.04 a barrel by 0256 GMT, after falling 0.5% on Monday. …read more […]

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GLOBAL MARKETS-Asia shares left guessing on trade, await Trump speech

November 12, 2019 admin Comments Off on GLOBAL MARKETS-Asia shares left guessing on trade, await Trump speech

MSCI’s broadest index of Asia-Pacific shares outside Japan edged up a slight 0.04%, following a sharp 1.2% pullback on Monday. Caution ruled ahead of a speech by U.S. President Donald Trump to the Economic Club of New York later in the day in case there was any new word on the Sino-U.S. Phase one trade deal. On a more positive note, Politico reported Trump would announce this week that he is delaying a decision on whether to slap tariffs on imported European Union autos for another six months. …read more […]

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Tencent Should Be Split Up

November 12, 2019 admin Comments Off on Tencent Should Be Split Up

(Bloomberg Opinion) — China’s most ubiquitous company is hiding one of its most valuable assets. That needs to change.Tencent Holdings Ltd., best known for the WeChat messenger that almost everyone in the country uses, has a growing fintech business. But it’s getting overshadowed by the games and social media divisions. By spinning it off into a new company, with a move to a separate listing, management could unlock as much as $230 billion in value. That would make the entity China’s fourth-largest listed company and the world’s sixth-biggest financial services firm.Such a move could help Tencent retake some of the …read more […]