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") .
178-year-old British travel company Thomas Cook has collapsed after talks with potential lenders and the UK government failed to find a rescue package for the company. Last month,Thomas Cook’s largest shareholder, Chinese conglomerate Fosun, had proposed to contribute £450m to a £900m rescue package in return for a 75% stake in its package tour division and a 25% holding of its airline business.
US factory activity hit a five-month high in September. IHS Markit’s initial estimate of the purchasing managers’ index for the manufacturing sector rose to 51 this month, beating economists’ expectations.
However, data from the Eurozone show economic conditions worsening. The composite purchasing managers’ index for the eurozone fell to a six-year low and manufacturing saw the steepest contraction in seven years.
South Korean exports have collapsed by the most in a decade. In the first 20 days of September exports tumbled 21.8% y/y and imports fell 11.1% y/y. Exports to China were down 29.8%.
On today’s Money Talk we’re joined by Connie Bolland of Economic Research Analysis and Michelle Lam from Societe Generale. Providing the view from Japan is Nick Smith at CLSA in Tokyo.
24/09/2019 - 8:08 Business and Market Discussions
Connie Bolland, Founder & Chief Economist of Economic Research Analysis, comments that South Korea’s biggest drop in exports in a decade is a bad sign for the global economy.
Michelle Lam, Greater China Economist at Societe Generale, says that the shifting of Chinese production to other Asian countries helps factories like those in India benefit from the trade war.
24/09/2019 - 8:25 View From Japan
Hong Kong's economy grew by 0.5% in the second quarter compared to the same period last year, missing estimates for growth of 0.6%. It’s the slowest growth since the global financial crisis. On a quarter-on-quarter basis GDP shrank by 0.4%. Protesters marched through Hong Kong for an eleventh successive weekend, with an estimated 1.7 million people demanding reforms. Financial Secretary Paul Chan warned yesterday Hong Kong should brace itself for an “economic typhoon.” President Trump said if Beijing uses violence in Hong Kong, it would make a trade deal with China hard.
Joining today’s Money Talk to review the latest business, finance and economic headlines are Alex Wong at Ample Capital and Samuel Faveur of Mandarin Capital. Providing the view from the Mainland is Ben Cavender at the China Market Research Group. After 8:30 we discuss innovation & technology in Hong Kong with Wong Kam-fai from the Chinese University of Hong Kong; Sankar Villupuram from ARUP; Ernest Lo, Founder of Future Impact Lab and Naubahar Sharif from the Hong Kong University of Science and Technology.
19/08/2019 - 8:09 Business & Market Discussions
Alex Wong, Director of Asset Management at Ample Capital, says he is not optimistic about Hong Kong’s stock market until a political solution is found to the social unrest, but he is more positive on Chinese A-shares.
Samuel Faveur, CEO and Founder of Mandarin Capital, comments that it’s difficult to forecast how long the economic downturn in Hong Kong will last, since the main components of the economy including retail, tourism and exports are being dragged down by the protests and the international situation.
19/08/2019 - 8:24 View from China
19/08/2019 - 8:35 Monday Debate: Innovation & Tech in HK
Wong Kam-fai, Director of the Center for Innovation and Technology at the Chinese University, comments that although Hong Kong is moving forward in developing innovation and technology, the pace is still slow compared to other cities in Guangdong.
Sankar Villupuram, Digital Services Leader in East Asia from ARUP, points out that the internationally high-ranked universities in Hong Kong and the education system here have laid an important foundation for innovation to develop.
Ernest Lo, Founder of Future Impact Lab, expresses his concern that Hong Kong does have talent but is finding problems in keeping people.
Naubahar Sharif, Associate Professor at the Division of Social Science of HK University of Science and Technology, says that attracting foreign talent to the city goes beyond innovation and tech to areas like the government's policies and the quality of life in Hong Kong.