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") .
New applications for US unemployment benefits fell to 1.2m last week from 1.4m the previous week, the lowest level since the pandemic started to spread across the US in March. But more than 16m Americans continue to collect benefits, equivalent to 11% of the workforce.
The FT is reporting that Microsoft is now exploring whether to buy all of TikTok’s global business, including the video app’s operations in India and Europe as well as the original target of its operations in the US, Canada, Australia and New Zealand. TikTok does not operate in China, and such a deal would not extend to its China-facing sister app Douyin.
Australian Prime Minister Scott Morrison warned Thursday that the lockdown across Victoria state will cut Australia’s GDP by 2.5% in this quarter. He also estimated the unemployment rate was likely to peak around 10%.
On today’s Money Talk, we’re joined by Francis Lun of GEO Securities and Kenny Wen from Everbright Sun Hung Kai. With a view from Australia is Toby Lawson at Societe Generale Australia.
07/08/2020 - 8:08am Business and Market Discussion
Francis Lun, CEO of GEO Securities says that HSBC may have to split its operations into two as the ongoing China-US tensions could make it difficult for the banking giant to comply with government restrictions and sanctions.
Kenny Wen, Wealth Management Strategist at Everbright Sun Hung Kai doesn’t think that the ongoing US-China tech war will have an impact on Hong Kong stocks as they remain largely liquidity driven.
07/08/2020 - 8:24am View from Australia
The US economy contracted at an annualised rate of 32.9% in the second quarter, the steepest decline since records began in 1947. Compared with the first quarter, the economy contracted 9.5%. Personal spending, exports and business investment all fell sharply.
More than 1.4 million Americans filed new claims for unemployment benefits last week, up slightly from the prior week for the second week in a row.
Germany’s economy slumped by a record 10.1% in the second quarter, the most since the quarterly series began in 1970. Output was hit by declines in exports, consumer spending and investment.
In Hong Kong, retail sales slumped 24.8% y/y in June, the 17th straight month of declines. But that was an improvement on the 32.8% fall seen in May. For the first half of the year, retail sales were down by a third compared to January to June last year.
On today’s Money Talk, we’re joined by Francis Lun of GEO Securities. With a view from Australia is Toby Lawson at Societe Generale Australia. Talking about the annual LGBT+ inclusion awards are Peter Sargant, CEO of Community Business and Dirk Dalichau, Managing Director at Eaton HK.
31/07/2020 - 8:06am Business and Market Discussion
31/07/2020 - 8:14am View from Australia
31/07/2020 - 8:23am LGBT+ inclusion awards
Peter Sargant, CEO of Community Business acknowledges improvements in LGBT equality although discrimination still exists in some Hong Kong firms.
Dirk Dalichau, Managing Director at Eaton HK highlights that strong diversity and inclusion policies lead to a happier workforce and to more productivity.