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
The US Federal Reserve has left interest rates unchanged as expected but stays on course for a December hike. The Federal Open Market Committee noted that business investment had slowed from its rapid pace seen earlier in the year. After the meeting the dollar rose and US stocks fell.
China’s imports and exports grew far more than expected in October, with exports still surging out of the mainland, despite the imposition of tariffs. President Donald Trump has hinted that he may escalate his trade dispute with Japan and impose a tax on auto imports. Speaking after the midterm election results, he said, “Japan does not treat the United States fairly on trade. They send in millions of cars at a very low tax, but they don’t take our cars.”
In economic data from Asia, Philippine GDP growth came in slightly below estimates at 6.1% in the third quarter. In Japan, machine orders saw the worst slump on record in September, raising fears about demand on the mainland.On today’s Money Talk we’re joined by Francis Lun of GEO Securities and Dickie Wong from Kingston Securities. Later in the programme, Thomas Haddrill, General Representative of Lloyd’s Hong Kong tells us about the threat to our livelihoods and prosperity from underinsurance.
09/11/2018 - 8:08 Business and Market Discussions
Francis Lun, CEO of GEO Securities says that the slowdown in business investment noted by the Fed is the prelude to a precipitous drop in January in Chinese exports to the US and consumer spending.
Dickie Wong, Executive Director of Kingston Securities anticipates the bear market in A-shares and Hong Kong stocks will continue.
09/11/2018 - 8:20 Insurance Gap