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") .
A series of geopolitical risks have rattled global markets. The deteriorating relationship between the US and China, the breakdown in Brexit talks, the disappearance of dissident Saudi journalist Jamal Khashoggi, the big losses by German Chancellor Angela Merkel's coalition partner the CSU in Bavarian elections, the impasse over Italy’s budget combined with warnings from the IMF/World Bank meetings on global growth have left investors rattled this morning. Chinese stocks have hit a four-year low, US stocks have endured a volatile session and gold has rallied.
In addition, debt is in focus. The latest US Treasury department data shows the US budget deficit this year has widened to the largest since 2012 after President Trump increased spending and cut taxes.
Former Federal Reserve chair Janet Yellen has criticised Donald Trump's recent attacks on the US central bank, calling them "damaging to financial stability".
16/10/2018 - 8:08 Business and Market Discussions
Connie Bolland of Economic Research Analysis comments that the world does not need another oil price rise, and that inflation will cause problems for emerging market countries.
Mandarin Capital's Sam Faveur believes that it is ludicrous to compare the decline in China A's share market this year with the US market in 1929 as Donald Trump has done.
16/10/2018 - 8:30-9:00 Paul Ryan and David Constello on Ireland Economy and Brexit
Paul Ryan, Head of the International Finance Division in the Irish Department of Finance points out that the Sino-US trade war is damaging the global economy and a no-deal Brexit will be disastrous for the future of UK and bad for Ireland.
David Costello, Irish Consul General to Hong Kong and Macau talks about the wider consequences of the Irish border problem and the Good Friday agreement
In an historic first ever meeting between the leaders of the U.S. and North Korea in Singapore yesterday President Trump and Kim Jong-un signed an agreement in which North Korea pledged to work towards the complete denuclearisation of the Korean peninsula. The summit has failed to excite US markets though and South Korea’s Kospi index closed virtually unchanged. The Korean won was firmer.
Electric car maker Tesla is to cut 9% of its workforce to bring down costs and become profitable. Tesla has more than 37,000 staff and the layoffs are thought to be the first in the company’s 15-year history. CEO Elon Musk said the cuts will not affect its ability to hit Model 3 production targets in the coming months.
US consumer price inflation has hit its highest level in 6 years. The data comes just before the US Federal Reserve is expected to announce a rise in US interest rates tomorrow.
Chinese telecoms firm ZTE will resume trading on the Hong Kong stock exchange today following an almost 2-month suspension, after an agreement was made between the White House and China to save the company. ZTE will resume business operations “as soon as practicable” after the sales ban is lifted, the company said.
Hong Kong Chief Executive, Carrie Lam, announced yesterday that the government was setting up an independent statutory commission to investigate sub-par works at Hung Hom Station on the over budget Shatin-to-Central rail link that left platforms not securely fixed to the walls. MTR bosses have been accused of changing their story over the safety scare and of trying to cover up the problem. Some lawmakers are calling for MTR Corporation chairman Frederick Ma to step down over the scandal.
On today’s Money Talk, analysing the latest business developments are Stewart Aldcroft of CitiTrust, Mark Michelson from IMA Asia and on the phone from Washington D.C., RTHK’s International Economics Correspondent Barry Wood.
13/06/2018 - Business and Market Discussions
Stewart Aldcroft, Chairman of CitiTrust, comments that the US attitude towards Canada on trade is not the right way nor the right language for international politics.
Mark Michelson, Chairman of the Asia CEO Forum at IMA Asia, says that a lot of work needs to be done within the region before denuclearization of the Korean peninsula can be achieved.
RTHK’s International Economics Correspondent Barry Wood says that the latest U.S. inflation report is within the Fed’s comfort zone.