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
The number of confirmed coronavirus cases around the world has passed the milestone of 10 million, with over 500,000 deaths. Covid-19 infections across the United States have passed 2.6 million, with a record daily number of new cases reported in the states of Florida, Texas, South Carolina, and Nevada. Several states have halted their reopening measures.
Profits at China's industrial firms rose for the first time in six months in May. The National Bureau of Statistics said profits rose 6% year-on-year to 582.3 billion yuan (US$82.28 billion), its sharpest monthly gain since March 2019. The rebound follows a 4.3% fall in April.
Facebook announced that it will start to label potentially harmful posts that it leaves up because of their news value, including posts by politicians. The social media firm is under pressure to improve how it moderates the content on its platform and more than 90 advertisers have joined a boycott of the site. Consumer goods giant Unilever, Coca Cola, Starbucks, and Levi’s have become the latest firms to announce a pause in advertising on social media.
The United States said on Friday it was restricting visas for several Chinese officials, accusing them of infringing on the autonomy of Hong Kong through the planned national security law. China’s foreign ministry office in Hong Kong called on the US to immediately “rectify its mistake” and stop interfering in SAR and mainland affairs or risk “powerful retaliation” from Beijing.
On today’s Money Talk, we’re joined by Steve Wang at CITIC CLSA and Nate Taplin from the Wall Street Journal.
29/06/2020 - 8:08am Business and Market Discussion
Steve Wang, Senior Credit Analyst at CITIC CLSA expects US markets to remain volatile for some time as the upcoming US elections bring further uncertainty.
Nate Taplin, Asia Editor at the Wall Street Journal's Heard on the Street says that the upcoming national security law may push Hong Kong-based investors to recalibrate their portfolios.