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 chairman of Japanese automaker Nissan, Carlos Ghosn, has been arrested in Japan over allegations of financial misconduct. The company is reported as saying Mr Ghosn used company money for personal use and after an internal investigation it has found "serious misconduct.” The Nissan board will meet later today to propose he be terminated from his chairman's post.
UK Prime Minister Theresa May has launched a three-week campaign to get her draft EU withdrawal agreement approved by the UK parliament even as some European countries are pushing for tougher terms to be included in the declaration on the future trading relationship between the UK and EU after Brexit. British businesses are now more pessimistic about the outlook than at any time since at least 2009 according to an IHS Markit survey conducted in the second half of October.
Talk of a new cold war between the US and China has sent shares on Wall Street sharply lower with the tech sector leading the declines. Chinese 1-year bond yields have dropped below US Treasury yields for the first time in several decades.
On today’s Money Talk our guests are Connie Bolland of Economic Research Analysis and independent analyst Andrew Sullivan. On the phone from Tokyo is Naoyuki Yoshino, Dean & CEO of the Asian Development Bank Institute.
20/11/2018 - 8:08 Business and Market Discussions
Connie Bolland of Economic Research Analysis forecasts US growth will be 2.2-2.5% next year and expects four interest rate hikes in the next 12 months.
Independent analyst Andrew Sullivan does not believe that we are witnessing a bear market in US stocks. He adds that the decline so far has not been drastic.
20/11/2018 - 8:20 View from Japan
Polling stations have started to close across America in what has become the most expensive midterm election in US history. The polls favour Democrats to retake control of the House of Representatives but for the Republicans to maintain control of the Senate.
HSBC has confirmed a huge data breach in the US. American customers’ statements, transaction histories and personal details were hacked last month. It’s thought that under 1% of HSBC’s US customers have been affected. The bank said it immediately suspended online access to affected accounts and was not aware of any customers who had suffered financial loss.
The EU’s chief Brexit negotiator Michel Barnier has ruled out any deal that doesn’t prevent a hard border in Ireland. He said he would seek to agree the whole 100% of a draft Brexit accord with London but added "we are still not at the 100%.” Mr Barnier said. "What is missing is a solution for the issue of Ireland. Without an operational backstop there will not be an accord and there will not be a transition period. That is certain."
It’s an election special on today’s Money Talk. We bring you the latest updates and discuss the implications for global markets and geopolitics, including how it could affect the trade dispute with China. Providing their expert analysis are Stewart Aldcroft of CitiTrust, Hannah Anderson from JP Morgan Asset Management and over in Washington D.C., RTHK’s international economics correspondent Barry Wood.
07/11/2018 - 8:08 US MidTerm Congressional Election
Stewart Aldcroft, Chairman of CitiTrust says that the two 10% market correction this year are a good sign, as it means that investors are more realistic about what the market is telling them.
Hannah Anderson, Global Market Strategist at JP Morgan Asset Management points out that the US midterm election results do not impact the Sino-US trade war, as Congress has little say on trade policy, as this is more of an executive decision.
RTHK’s international economics correspondent Barry Wood anticipates that the Democrats will narrowly take over the House of Representatives and the Republicans will retain control of the Senate. Mr Wood believes that a gridlocked Congress and the Trump administration can work together on some issues such as infrastructure spending.