Peter Lewis: A fast moving and topical business and finance show.
A fast moving and topical business and finance show bringing you breaking business and economic news and financial market updates. Presented by former CEO and investment bank global trading head Peter Lewis, with over 30 years' industry experience. Join Peter and his expert guests for analysis and discussion on the day's top business stories live from 8 a.m. to 8.30 a.m. every weekday morning on RTHK Radio 3. We have a podcast to download after the show and you can also listen through the RTHK Radio 3 website live or later in the day. We welcome your questions, comments and feedback to read out in the show. You can email us at email@example.com, post on our Facebook page "Money Talk on RTHK Radio 3 " or find us on twitter "MoneytalkR3") .
Good morning. Federal Reserve Chairman Jerome Powell has given an upbeat assessment of the US economy and said that an era of stable growth may continue, provided the Fed gets its policy decisions right. That has helped technology stocks to new highs despite a decline for Netflix which sunk on Wall Street after missing its forecasts of new subscribers.
President Trump has reversed course and now says he accepts the US intelligence conclusion that Russia meddled in the 2016 election. He said he misspoke in Helsinki on Monday when standing next to Russian President Putin he said he couldn’t see any reason why Russia would interfere in the US election.
UK Prime Minister Theresa May’s Brexit plan has narrowly survived a vote in Parliament. A rebellion by pro-EU MPs from the ruling conservative party who tabled a motion to keep the UK in the customs union was defeated by just 6 votes.
On today’s Money Talk we welcome Patrick Bennett of the Canadian Imperial Bank of Commerce, writer Alex Frew Mcmillan from Dragonfly Media and on the phone from Washington D.C., RTHK’s International Economics Correspondent, Barry Wood. After 8:30, we’re going to talk about Brexit with Andrew Seaton, Executive Director of the British Chamber of Commerce in Hong Kong. And we’ll also get an update on what’s happening in the oil markets with Vandana Hari, Founder of Vanda Insights.
18/07/2018 - 8:09 Business and Market Discussion
Patrick Bennett, Macro Strategist for Canadian Imperial Bank of Commerce, says that the US economy is expected to have grown around 4% in the second quarter and because of that Americans will soon shrug off criticism of President Trump’s performance in Helsinki.
Alex Frew Mcmillan, Writer of Dragonfly Media, expects US inflation to remain under control and the biggest risk to the market is an unexpected event such as a meltdown in cryptocurrencies rather than inflation.
RTHK’s International Economics Correspondent Barry Wood says the Trump-Putin meeting has been disastrous, and people are calling on his advisors to resign.
18/07/2018 - 8:34 Brexit - Andrew Seaton : British Chamber of Commerce in HK
18/07/2018 - 8:50 Oil Update - Vandana Hari : Vanda Insights
US relations with Russia and China have taken a turn for the worse over the weekend. President Donald Trump has criticised China for failing to tackle North Korea, which test fired another missile on Friday capable of reaching the mainland of the US. In a series of tweets he said; “they do NOTHING for us with North Korea, just talk. We will no longer allow this to continue.” Russia has expelled 755 US diplomats in response to new US sanctions imposed as punishment for conclusions by U.S. intelligence that Russia meddled in the 2016 election.
Economic data released on Friday shows continued improvement in the global economy. US economic growth has picked up speed in the second quarter fueled by an increase in consumer spending. But wage growth has slowed to its weakest in 2 years. That has sent the US dollar and treasury yields lower in the markets.
Hong Kong Chief Executive Carrie Lam says the government needs to intervene more if it wants to compete more with other economies. Her comments appear to signal a possible change of stance on the government's longstanding "positive non-intervention" policy which successive Hong Kong governments have practiced in business and financial matters since the 1970s.
On today’s Money Talk we review the business headlines with Alex Wong of Ample Capital and Mark To from Wing Fung Financial Group. Ben Cavender of the China Market Research Group in Shanghai provides his view from the mainland. In the second half of the programme we are joined by Nicholas Yang, Secretary for Innovation and Technology of the Hong Kong SAR. (8am-9am, email to firstname.lastname@example.org)
31/07/2017 - 08:08 Market Discussion
Alex Wong, Director, Asset Management from Ample Capital thinks that the Fed will be very cautious in pushing interest rates higher. He says e-commerce and automation are dragging down the inflation rate.
Mark To, Head of Research, Wing Fung Financial Group thinks the US economic recovery is on track and that's why the central bank has to normalise monetary policy.
31/07/2017 - 08:20 View from China
31/07/2017 - 8:30 Innovation and Technology