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") .
UK Chancellor of the Exchequer Rishi Sunak has unveiled a £30bn fiscal stimulus to boost employment. Britain will cut VAT on the leisure and hospitality sector from 20% to 5%, pay firms a £1,000 bonus for every staff member kept on for three months when the furlough scheme ends in October, and give diners £10 per head off their bills if they eat out from Monday to Wednesday. The Finance Minister also announced a £2bn "kickstart scheme" to create more jobs for young people.
Macau says it needs to re-evaluate plans to loosen travel restrictions for those travelling between the two SARs, as the number of locally contracted Covid-19 cases in Hong Kong continues to rise. Authorities in Macau, Hong Kong and Guangdong province had been mulling a travel bubble for travellers who could prove they were free of the coronavirus. Yesterday, Hong Kong health authorities reported 19 more local Covid-19 cases, with officials saying a new wave of cases is underway in the city.
On today’s Money Talk, we’re joined by Personal Wealth Advisor, Enzio von Pfeil and Ben Quinlan of Quinlan & Associates. With a view from South Korea is Peter Kim from KB Securities.
09/07/2020 - 8:09am Business and Market Discussion
Personal Wealth Advisor, Enzio von Pfeil, predicts difficult times ahead for the tertiary sector in G20 economies as they may not have adequate resources needed for a smooth restart.
Ben Quinlan, CEO & Managing Partner at Quinlan & Associates doesn't think that the Hong Kong dollar's peg to the greenback faces an existential risk from an attempt by the US to destabilise it, but he worries that it could create instability in the markets.
09/07/2020 - 8:25am View from South Korea
The siege of Hong Kong’s Polytechnic University has entered a fourth day with around 60 to 100 protesters remaining in the building. Protesters are calling for further demonstrations today and plan to block roads and disrupt rail services across the city. In the US, the Senate has unanimously passed the Hong Kong Human Rights and Democracy Act, in a bipartisan show of support for the protestors.
President Trump has threatened higher tariffs if China doesn’t soon reach a Phase 1 trade deal with the US. Speaking at yesterday’s cabinet meeting he said, “if we don’t make a deal with China, I’ll just raise the tariffs even higher.”
Alibaba’s secondary listing in Hong Kong is almost 3 times oversubscribed. The shares begin trading on Tuesday and brokers will close the books half a day early due to the success of the subscription process.
UK shadow chancellor John McDonnell said workers and consumers would "take back control" under a new business model if Labour wins the election. He said company boards would include workers to give them greater influence over pay structure. Public sector chief executives would not be allowed to earn more than 20 times someone on the living wage.
On today’s Money Talk our guests are Stewart Aldcroft of CitiTrust, Tariq Dennison at GFM Asset Management and RTHK’s International Economics Correspondent, Barry Wood.
20/11/2019 - 8:08 Business and Market Discussions
Stewart Aldcroft, Chairman of CitiTrust, comments that the passage of the Hong Kong Human Rights and Democracy Act is unlikely to affect the trade talks with the US as both sides want a deal.
Tariq Dennison, Portfolio Manager at GFM Asset Management, says that the performance of Hong Kong’s stock market has been very good considering the situation in Hong Kong and he sees few sign of capital flight for now.
RTHK’s International Economics Correspondent Barry Wood comments that both the US business community and China do not want the tariff increase due in mid-December to take effect.