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 email@example.com, 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.
Fitch Ratings has cut its global growth forecast saying protectionism is choking the global economy. Fitch says growth in China in 2020 will be 0.3% lower than previously forecast, slipping to 5.7%.
Hong Kong’s richest man Li-Ka Shing yesterday described the three months of protests as Hong Kong’s worst crisis since World War II. He called on young people to “consider the big picture” and urged the government to “have mercy on the masters of our future.”
UK Prime Minister Boris Johnson said in Dublin that a no-deal departure by Britain from the EU would be a “failure of statecraft” that would damage both the UK and Ireland. The British and Irish governments said “significant gaps remain” between Mr Johnson and his Irish counterpart Leo Varadkar, despite some “common ground” being established.
Joining today's Money Talk are Ian Hui from JP Morgan Asset Management and Tariq Dennison of GFM Asset Management. Brian Coulton, Chief Economist of Fitch Ratings tells us about his latest revisions to their global growth forecasts.
10/09/2019 - 8:09 Business and Market Discussions
10/09/2019 - 8.23 am Fitch Ratings