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") .
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
US stocks have had their worst start to a December since 2008 after President Trump said he thought it was better to wait until after the 2020 Presidential election for a China trade deal.” He said Beijing wants to “make a deal now,” but it’s very dependent upon if “I want to make it.”
Hong Kong Chief Executive, Carrie Lam, said that the passage of the Hong Kong Human Rights and Democracy Act in Washington has created "an unstable environment" in the SAR, affecting business confidence, because firms worry about what Washington will do. The CE also said the government will soon introduce a fourth round of relief measures to help people cope with the economic downturn.
The Global Times tweeted yesterday that China will release an “unreliable entity list” of US companies, if the United States Congress passed a bill banning the export of US goods and services to state entities in Xinjiang and sanctioned Chinese officials involved in the Xinjiang detention camps, where Uighur Muslims are reported to have been tortured and abused.
On today’s Money Talk our guests are Jack Siu of Credit Suisse, Will Denyer, from Gavekal and on the phone from Washington D.C., RTHK’s International Economics Correspondent, Barry Wood.
04/12/2019 - 8.08am Business and Market Discussions
Jack Siu, Director & Senior Investment Strategist for Asia Pacific at Credit Suisse commented that Donald Trump labelling Brazil and Argentina as currency manipulators was unfair as their currencies had fallen because of economic problems and not through a deliberate devaluation.
Will Denyer, US Economist at Gavekal said that the vague sanctions threatened in the Hong Kong Human Rights and Democracy Act were of less importance to Hong Kong’s business sentiment and economy than the impact of the protests.
Barry Wood, RTHK’s International Economics Correspondent in Washington D.C. believes that financial markets have priced in a US-China trade agreement and there would be a substantial sell-off if the negotiations fall through.