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") .
The US government shutdown has ended after the Senate voted to approve a temporary spending bill by 81-18, which will keep the government open until February 8th. The 3-day standoff that left federal agencies closed and hundreds of thousands of employees unable to work, came to an end after Senate Majority Leader Mitch McConnell promised to allow an immigration bill to reach the floor next month. US stocks surged to all-time highs after the vote.
The IMF has upgraded its global growth forecast to the highest in 7 years partly due to US tax cuts. But the IMF warns that too many people have been left out of the recovery. A new report from charity Oxfam says that the world's richest one percent received 82% of the world’s wealth created last year while the poorest half of the population received none.
Hong Kong is the world’s least affordable housing market for the 8th consecutive year according to consultancy Demographia. The median price of a home is 19.4 times the median annual household income. That’s up from 18.1 times in the previous year, driven higher by rules restricting land use.
Joining today’s Money Talk are Connie Bolland of Economic Research Analysis and Jack Siu from Credit Suisse. With the Bank of Japan due to deliver its latest monetary policy decision later today, Marcel Thieliant, Senior Japan economist at Capital Economics gives his forecast.
23/01/2018 - 8:09 Business and Market Discussion
Connie Bolland, Founder and Chief Economist of Economic Research Analysis, commenting on the Oxfam survey finding that the chief executives of the top five global fashion brands made in just four days what garment workers in Bangladesh earn over a lifetime, says that the wages of Bangladesh workers are market-determined rather than being depressed by the wealthy.
Jack Siu, Investment Strategist for Asia Pacific at Credit Suisse, says that asset ownership is severely unbalanced around the globe and overall wage growth is vital in balancing the global economy.
23/01/2018 - 8:24 View from Japan
US markets have been rattled by reports that China is considering halting purchases of US Treasuries in response to the US blocking investment by Chinese companies. The US dollar, Wall Street stocks and Treasuries have all fallen. Mexican and Canadian stocks and their currencies also fell sharply after a Reuters report which cited 2 government officials as saying that President Trump would pull the US out of the North American Free Trade Agreement later this month.
In the latest economic data out of the mainland, annual growth in producer prices last year rose at the fastest pace in 9 years. That has brought to an end 5 consecutive years of contraction. However, consumer prices slowed in 2017 brought down by falls in the price of pork and fresh vegetables.
Toyota and Mazda have confirmed that they have chosen the US state of Alabama as the site for the new $1.6bn US assembly plant they announced last year. The plant, will have an annual production capacity of 300,000 units and create up to 4,000 jobs and is expected to start operation in 2021.
Joining today’s Money Talk are our regular Thursday guest and economist Enzio von Pfeil and Robert Howe the Founder & CEO of Geomatrix. Providing the view from Taiwan is Maurice Lu, deputy Chairman of Sinopac Futures in Taipei.
11/01/2018 - 8:08 Business and Market Discussion
Economist Enzio von Pfeil comments that concern over inflation is yesterday’s news and he adds that the market has been over-reacting.
Robert Howe, the Founder & CEO of Geomatrix, describes China's move to scale back or halt purchases of US government debt as a "bully tactic" and a warning to President Trump over his trade policies.
11/01/2018 - 8:25 View from Taiwan