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") .
There has been a surge in Covid-19 cases and related deaths around the world over the weekend with the World Health Organisation reporting another single day global record yesterday, bringing the total number of cases around the world to over 12.5 million. Outbreaks in Latin America, India and the US continue to intensify. The US state of Florida reported 15,000 new cases, the largest single-day jump in new cases for any US state.
Hong Kong confirmed another 38 new cases of Covid-19 on Sunday, with 30 of them locally acquired infections and the rest linked to overseas travel. The Centre for Health Protection urged people to stay at home and avoid social gatherings, warning that the situation in Hong Kong was “getting a bit out of hand.”
US President Donald Trump suggested on Friday that he has lost interest in a Phase 2 trade deal with China. Speaking on board Air Force 1 on his way to a rally in Florida, he told reporters, “I don’t think about it now. I have many other things in mind,” when asked about the possibility of another deal.
On today’s Money Talk, we’re joined by David Roche at Independent Strategy and Nitin Dialdas from Mandarin Capital. With a view from mainland China is Ben Cavender of the China Market Research Group.
13/07/2020 - 8:09am Business and Market Discussion
David Roche, President & Global Strategist at Independent Strategy warns that China and the US are now in a Cold War but predicts US sanctions to remain targeted at individuals rather than financial institutions.
Nitin Dialdas, Chief Investment Officer at Mandarin Capital highlights believes that the US is still committed to the Phase 1 trade deal.
13/07/2020 - 8:24am View from mainland China
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.