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 Hong Kong government has announced a HK$137 billion package of measures to help businesses stay afloat and workers receive their salaries during the coronavirus pandemic. MTR fares will also come down and taxpayers will be allowed to put off paying their bills. Financial Secretary Paul Chan said the government’s finances were "still sound". The total sum of all the relief measures announced so far will cost Hong Kong close to $290 billion, or 10% of the city's GDP. The World Trade Organization is predicting a severe decline in international commerce of between 13% and 32% this year. The more pessimistic case would amount to a decline in global trade similar to what happened in the great depression 90 years ago but in a shorter period of time. On today’s Money Talk, we’re joined by Personal Wealth Advisor, Enzio von Pfeil, and Alex Frew McMillan, Writer at Dragonfly Media. Updating us on the oil market is Vandana Hari, CEO of Vanda Insights.
09/04/2020 - 8:08am Business and Market Discussion
Enzio von Pfeil, Personal Wealth Advisor says that the government's latest HK$137 billion stimulus package will have a bandage effect on Hong Kong's domestic economy but he doesn’t expect a full recovery until the third quarter of 2021, depending largely on the course of the US economy.
Alex Frew McMillan, Writer at Dragonfly Media is worried that the stimulus package which is being made to employers won’t filter down to employees.
09/04/2020 - Oil markets
US stocks and oil prices have stabilised following Monday’s heavy losses. President Trump has promised a “major” economic relief package. White House officials said Mr. Trump pitched a 0% payroll tax that would last for the rest of this year, in a meeting with Republican lawmakers. Saudi Arabia said yesterday it would increase its oil production to a record 12.3m barrels a day from April. That’s over 2.5m barrels a day more than what it currently produces and represents a dramatic escalation of the price war following the collapse of the agreement between Opec and non-opec oil producing nations. Inflation in China in February came in line with expectations. The Consumer Price Index rose 5.2% y/y, down from 5.4% the previous month. However, food prices continued to soar, climbing 21.9%, the most since April 2008. Pork prices jumped 135.2%. Factory prices returned to deflation. The Producer Price Index fell 0.4% y/y compared to an expected 0.3% drop and a 0.1% rise in January. On today’s Money Talk we’re joined by Stewart Aldcroft of CitiTrust, David Roche at Independent Strategy and over in Washington D.C., RTHK’s International Economics Correspondent, Barry Wood.
11/03/2020 - 8:08am Business and Market Discussion
Stewart Aldcroft says that Russia will be the most impacted by the crash in oil prices, as the oil & gas industry represents over 70 % of the country's total exports.
David Roche, President and Global Strategist at Independent Strategy highlights that the numbers of COVID-19 coronavirus cases in the US are likely to be under-reported, as the country doesn't have enough testing kits.
Barry Wood, RTHK's International Economics Correspondent believes that relief measures for the US travel industry are inevitable, and the ongoing epidemic could bring the already troubled American airlines sector to the verge of collapse.