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") .
The number of coronavirus cases has now passed 100 million people worldwide in 13 months, according to the latest data from Johns Hopkins University. In the UK, the death toll from Covid-19 passed 100,000 yesterday, marking the fifth country to pass that grim milestone. Three quarters of deaths have been among the over 75s. Just 1% have been in under 45s. More than 6.8m people in the UK have had their first dose of a coronavirus vaccine, according to the latest figures.
The International Monetary Fund has grown more upbeat on the global economy but warns new Covid variants could derail growth. The IMF expects the global economy to grow 5.5% this year, a 0.3 percentage point increase from October’s forecasts.
British MPs have accused HSBC of "aiding and abetting" China’s crackdown on Hong Kong. One MP said HSBC showed "double-standards, hypocrisy and appeasement". The bank’s Chief executive Noel Quinn, appearing before the Foreign Affairs Committee, mounted a robust defence saying that "I can't cherry-pick which laws to follow,” after the bank had frozen accounts belonging to pro-democracy politician Ted Hui and members of his family, and denied the bank had acted on political grounds. Asked if he was prepared to take his company away from Hong Kong if the situation continued to deteriorate, he said "the answer is no".
On today’s Money Talk, we’re joined by Stewart Aldcroft of CitiTrust, Will Denyer at Gavekal and RTHK’s International Economics Correspondent Barry Wood.
27/01/2021 - 8:09am Business and Market Discussion
Stewart Aldcroft, Chairman of CitiTrust, says that US regulators may need to step-in to restore orderly markets in the face of a huge short squeeze in some stocks.
Will Denyer, US Economist at Gavekal, highlights that US President Joe Biden's stimulus bill goes beyond addressing the pandemic and touches social issues such as the minimum wage.
RTHK's International Economics Correspondent Barry Wood, warns that in spite of not retaining a majority, Republicans could use filibustering tactics to block Mr Biden's proposed policies.
The World Health Organization warned yesterday that countries which have relaxed lockdown measures have seen a spike in coronavirus cases. In China there has been a new outbreak in Wuhan. South Korea, Japan and Singapore also confirmed new cases of locally transmitted infections.
The latest data from the mainland showed that Total Social Financing, a broad measure of credit in the economy, rose to 3.09 trillion yuan in April and banks extended 1.7 trillion yuan in new loans in April easily exceeding estimates.
The Hong Kong government has warned that Ocean Park will run out of cash next month and go bankrupt unless it receives an urgent HK$5.4 billion bailout. Secretary for Commerce and Economic Development Edward Yau said the funding is needed to make sure it can survive the coming 12 months, whilst the theme park develops a new strategic plan.
Meanwhile, Shanghai Disneyland reopened yesterday, after being closed for three months during the Covid-19 pandemic. The park is restricting visitor numbers to 20% of daily capacity, or about 16,000 people, all of whom must wear face masks and maintain social distancing requirements as well as showing a green health code on their mobile phones before being allowed in.
On today’s Money Talk, we’re joined by Connie Bolland of Economic Research Analysis and Alex Frew McMillan, writer at Dragonfly Media. With an update on frontier markets is Ruchir Desai, Fund Manager at Asia Frontier Capital.
12/05/2020 - Business and Market Discussion
Alex Frew McMillan, writer at Dragonfly Media says that the PBOC is sceptical about introducing “flood stimulus” to its economy, and is acting differently from other central banks.
Connie Bolland, Founder and Chief Economist at Economic Research Analysis is of the view that Ocean Park may not be profitable even once tourists come back, adding that is has stiff competition from other theme parks in the region.
12/05/2020 - Frontier Markets