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 Financial Times is reporting that the Chinese government is drawing up plans to replace Hong Kong Chief Executive Carrie Lam with an interim leader following four months of violent protests against her administration. The FT says her successor would be installed in March and serve out the remainder of her term until 2022. Leading candidates to replace her are said to include former HKMA Chief Executive Norman Chan and former Financial Secretary and Chief Secretary Henry Tang.
UK Prime Minister Boris Johnson has won the support of MPs in the first vote on his Brexit bill but has failed to receive approval for his timetable to push it through the House of Commons in just three days. He has now paused the legislation while he discusses the next steps. European Council President Donald Tusk says he will recommend that EU leaders accept the UK request for a delay to the date that the UK leaves the EU.
Japan’s SoftBank will take over struggling office subletting company WeWork in a US$3.5bn debt-funded bailout package and a tender offer of US$3bn to buy out existing shareholders. The deal cuts WeWork's valuation from US$47bn a few months ago to less than US$8bn.
On today’s Money Talk we’re joined by Stewart Aldcroft of CitiTrust, Steve Wang from CITIC CLSA and RTHK’s International Economics Correspondent, Barry Wood.
23/10/2019 - 8:08 Business and Market Discussions
Stewart Aldcroft, Chairman of CitiTrust, commenting on reports that Beijing wants to have a change in the leadership of the SAR, says that both possible candidates mentioned, Norman Chan and Henry Tang, are acceptable and experienced and are well-liked by Hong Kong people.
Steve Wang, Senior Credit Analyst at CITIC CLSA, says that markets are seeing a polarisation in investors' preference, and they now prefer defensive-positioned bonds.
RTHK’s International Economics Correspondent Barry Wood says that The Hong Kong Human Rights and Democracy Act will be passed by Congress and signed by President Trump, though there may be a new storm after the Act has passed into law.
The use of emergency regulations in Hong Kong for the first time in over 50 years has sparked a wave of protests and violence over the long holiday weekend. On Sunday, the government issued a statement denying that it was planning to use its extraordinary powers under the Emergency Regulations Ordinance to close the stock market and seize assets. The Hong Kong Monetary Authority dismissed rumours that it would implement a new regulation capping the daily amount of cash withdrawal from banks as "fake and unfounded".
A Chinese trade delegation led by Vice Premier Liu He will meet their US counterparts in Washington on Thursday. The Chinese team has reportedly limited the scope of the discussions and will not make any offer to reform Chinese industrial or economic policy. The Commerce Ministry told Fox News that it is prepared to set out a timetable for the harder issues to be worked out next year.
The US Commerce Department has added 28 Chinese companies and organisations to its “entity list”. The Trump Administration said the 28 entities were acting “contrary to the national security or foreign policy interests of the United States,” and US suppliers will have to obtain a special licence to continue selling to them.
On today’s Money Talk our guests are Connie Bolland at Economic Research Analysis and Nitin Dialdas of Mandarin Capital. Providing the view from Japan is Tokyo-based Journalist & Author, William Pesek.
08/10/2019 - 8:08 Business and Market Discussions
Connie Bolland, Founder & Chief Economist at Economic Research Analysis, says that investors are concerned about the risk of capital controls in Hong Kong and may consider diversifying their assets.
Nitin Dialdas, Chief Investment Officer of Mandarin Capital, does not see a proper long-term resolution to the US-China trade dispute until late next year.
08/10/2019 - 8:23 View From Japan