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 UK economy suffered its biggest slump on record, shrinking 20.4% in the second quarter compared with the first three months of the year. The latest data puts the UK officially in recession. The decline in UK GDP is double that in the US and worse than all its European peers, apart from Spain. However, in June, economic output grew 8.7% month on month, a recovery that was faster than most economists had expected.
The US consumer price index jumped by a seasonally adjusted 0.6% in July from the previous month, higher than economists’ forecast for 0.3% growth. It’s the second month in a row that inflation has climbed 0.6%, and the first rises since February. On a year-on-year basis, the CPI was up 1% versus 0.6% in June. Core CPI, which excludes volatile food and energy prices, was up 0.6%, compared with forecasts of 0.2% growth.
Data from the eurozone, also showed an economic improvement was under way. Eurozone industrial production rose 9.1% in June, following a record 12.4% increase in May. However, industrial production remains down more than 12.3% from a year ago.
On today’s Money Talk, we’re joined by personal wealth advisor, Enzio von Pfeil, and Le Xia from BBVA Research. With a view from Taiwan is independent political risk consultant, Ross Feingold.
13/08/2020 - 8:09am Business and Market Discussion
13/08/2020 - 8:24am View from Taiwan
Ross Feingold, Taipei-based independent political risk consultant says the risk for Taiwan of the visit of US Health Secretary Alex Azar, is it becomes part of a trilateral relationship between the US, China and Taiwan rather than an important event in its bilateral relationship with the United States.
HSBC and Standard Chartered have broken their silence on the 11 weeks of anti-government protests that have rocked Hong Kong. Yesterday, the two banks took out newspaper adverts in Chinese in the local press condemning the violence in the territory and calling for a peaceful resolution to the political unrest. Yesterday, Cathay Pacific warned staff that their social media content would be heavily scrutinised, and said posts expressing support for the protests could fall foul of mainland China’s aviation authority’s strict new policy being forced on the airline.
Activity in America’s factory sector has contracted for the first time in a decade. The IHS Markit’s US manufacturing purchasing managers’ index dropped to 49.9 in August.
Joining today’s Money Talk are Francis Lun of GEO Securities and Kenny Wen at Everbright Sun Hung Kai. Also with us is Michael Every from Rabobank.
23/08/2019 - 8:09 Business and Market Discussions
Francis Lun, CEO of GEO Securities, comments that the ongoing demonstrations have caused a loss of confidence in Hong Kong, especially in the property, tourism and retail sectors.
Kenny Wen, Wealth Management Strategist at Everbright Sun Hung Kai, says that the global economic slowdown will further damage Hong Kong’s banking industry.
23/08/2019 - 8:24 Fed Minutes & Jackson Hole