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 every weekday morning 8 to 8:30 a.m. 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 "MoneytalkRadio3") .
The US Federal Reserve has cut interest rates by 25bps as anticipated but the FOMC is divided on further action later this year. President Trump criticised the decision tweeting that the Fed had shown “no guts, no sense and no vision.” The Hong Kong Monetary Authority has followed suit and cut its base lending rate by 25bps to 2.25%.
Joshua Wong and other Hong Kong activists have told a US congressional hearing that Beijing was eroding the city’s autonomy and it was unable to understand or govern a free society. He urged the US to reassess Hong Kong’s special trade status. US Lawmakers are considering enacting the Hong Kong Human Rights and Democracy Act, which would allow sanctions on Chinese officials and require annual assessments of whether the city is sufficiently autonomous from Beijing to continue its special trading status. House speaker Nancy Pelosi says Congress will move swiftly to pass the act.
On today’s Money Talk, analysing the Fed’s interest rate decision are Enzio von Pfeil from St. James’s Place and Samuel Faveur of Mandarin Capital. Providing the view from Taiwan is Political Risk Consultant, Ross Feingold.
19/09/2019 - 8:08 Business and Market Discussions
Enzio von Pfeil, Private Wealth Adviser at St. James’s Place, says that President Trump will blame the Fed if the economy is not performing well and he loses in the upcoming presidential election.
Samuel Faveur, CEO and Founder of Mandarin Capital, comments that the Fed's decision to cut interest rates by 25bps makes sense and is in line with the economic data which show signs of a slowdown in the US economy.
19/09/2019 - 8:24 View from Taiwan
Taiwan-based Political Risk Consultant Ross Feingold says that the Hong Kong Human Rights and Democracy Act is gaining support among both Democrats and Republicans in the US Congress, and that the bill is very likely to pass. Mr. Feingold adds that if Hong Kong loses its special trade status, the cost of doing business here will rise.
The World Trade Organization has warned of a global trade slow down. WTO economists said yesterday that global trade grew by 3% in 2018 and would slow to 2.6% this year. Credit ratings agency Moody’s warned that a global recession is “highly likely” if there was no trade deal in the next few months.
UK Prime Minister Theresa May will ask the EU for an extension to the April 11 Brexit deadline. Meanwhile, she said she will work with opposition parties to agree a plan on the future relationship with the EU.
On today’s Money Talk, casting their analytical eye over the day’s top business stories are Stewart Aldcroft of CitiTrust, Peter Churchouse from Portwood Capital and RTHK’s International Economics Correspondent, Barry Wood.
03/04/2019 - 8:09 Business and Market Discussions
Stewart Aldcroft, Chairman of CitiTrust, comments that the WTO is trying to encourage the US and China to reach a trade agreement at this crucial point when both nations seem to be close to a deal.
Peter Churchouse, Founder of Portwood Capital, says that the risk of a recession in the US has doubled based on signals from the bond market and he warns investors not to be too bullish on the global economy.
RTHK’s International Economics Correspondent Barry Wood says that he does not see a dramatically slowing US economy but a steady one with a slower pace of growth.