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 firstname.lastname@example.org, 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
In the most significant liberalisation of China’s financial sector in a decade, mainland authorities will remove the foreign ownership limits on its banks and will allow international firms to take control of its securities firms, fund managers and insurers. Vice finance minister Zhu Guangyao said China would raise the ceiling on foreign ownership of securities, fund management and futures trading joint ventures from 49% to 51% allowing foreign companies to take control of their joint ventures.
Singles’ Day on the mainland has smashed previous records. More than $1billion of goods an hour were sold on Alibaba’s online shopping platforms and the company posted a 39% increase in sales compared to last year.
Meeting at the APEC summit in Vietnam over the weekend, 11 Pacific Rim countries have agreed to revive the Trans-Pacific Partnership without the US, which pulled out in January. That follows a robust speech from Donald Trump who said the US would no longer tolerate "chronic trade abuses". President Xi Jinping meanwhile spoke of irreversible globalisation.
Hong Kong’s economic growth more than halved in the 3 months to September from the previous quarter but on an annualized basis GDP growth is still a robust 3.6%.
In the markets, there’ll be more opportunity for IPO frenzy in Hong Kong this week following the successful debut of China Literature last week. Gaming hardware company Razer will begin trading on the Hong Kong Stock Exchange today. On Thursday, Chinese online car retailing platform, Yixin Group, in which Tencent has a stake, is due to start trading.
On today’s Money Talk, Rob Koepp from The Economist Corporate Network and Tariq Dennison, Portfolio Manager at GFM Asset Management will keep you up to date with all the latest developments. Brock Silvers, Managing Director at Kaiyuan Capital in Beijing provides the view from the Mainland. (8am-8.30am, email to email@example.com)
13/11/2017 - 8:09 Business and Market Headlines
Tariq Dennison, Portfolio Manager at GFM Asset Management, says foreign firms and large international banks have become more reluctant to enter into competition with the big Chinese banks compared to 15 years ago.
Rob Koepp from The Economist Corporate Network comments that the sales record by Alibaba on Singles’ Day is impressive and China is now exporting consumerism.
13/11/2017 - 8:23 View from China