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") .
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
China has dismissed as "fake news" suggestions that it could slow or halt purchases of US Treasuries. China's State Administration of Foreign Exchange said in a statement: "We think this story could be quoting a mistaken source or it could also be a piece of fake information." US stocks and treasury bonds have advanced overnight as a result.
US inflation has gone into reverse falling for the first time in a year and a half. The producer price index fell 0.1% in December. Economists had been expecting a rise of 0.2%. Meanwhile economic confidence in the US has hit a 17-year high. But jobless claims unexpectedly climbed to a 3-month high.
Germany has released its economic data for 2017 and it was a good year for Europe’s largest economy. It recorded solid growth of 2.2% and the government had a record budget surplus of 1.2% of GDP. That’s the eighth consecutive year of growth.
US President Donald trump has threatened online retailers such as Amazon with an internet tax for sales they make online. He said, they're going to have to start paying an internet sales tax because it's very unfair what's happening to our retailers all over the country that are put out of business.
Joining today’s Money Talk are Francis Lun of GEO Securities and Jonathan Garner from Morgan Stanley. Providing the view from down under is Toby Lawson from Societe Generale, Australia.
12/01/2018 - 8:08 Business and Market Discussion
Francis Lun, CEO of GEO Securities, comments that the Chinese authorities' order to halt the production of coal and steel in January will hamper industrial profits and he expects producer prices to go up.
Jonathan Garner, Managing Director of Research at Morgan Stanley, is optimistic about Hong Kong and mainland stocks but he expects interest rate rises to bite in the second half of the year and this year will not be as good as 2017.
12/01/2018 - 8:23 View from Australia