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 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 Federal Reserve is to restart asset purchases in order to ease a liquidity crunch among banks. Fed chairman Jermone Powell said the US central bank will soon resume purchases of Treasury bonds to ease disruption in the short-term lending markets.
The Trump administration said it will restrict companies from exporting American-made goods to 28 more Chinese entities and will also impose visa restrictions on Chinese officials implicated in human rights violations against Muslim minorities in Xinjiang. Beijing said overnight it would likely retaliate against the move and suggested Liu He, Beijing’s chief trade negotiator, could cut his trip to Washington short and return home on Friday after just one day of discussions.
The new head of the International Monetary Fund, Kristalina Georgieva, has given a downbeat assessment of the global economy saying 90% of the world is experiencing a slowdown and global growth is predicted to be the weakest since the financial crisis. Ms. Georgieva also said IMF staff would examine the impact of negative interest rates and urged central banks to “use monetary policy wisely” in the face of a synchronised global slowdown.
Joining today’s Money Talk are Stewart Aldcroft of CitiTrust, Karine Hirn from East Capital and RTHK’s International Economics Correspondent, Barry Wood.
09/10/2019 - 8:09 Business and Market Discussions
Commenting on Brexit, Stewart Aldcroft, Chairman of CitiTrust, says that negotiations have broken down and there is little hope of amending or improving the current Brexit arrangements.
Karine Hirn, Partner at East Capital, expects that the next big story in the US-China trade dispute will be potential restrictions on US funds investing in China.
RTHK’s International Economics Correspondent Barry Wood points out that the upcoming trade talks between the US and China will probably be the last chance in a month or two to solve the dispute before tariffs increase.