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") .
Cathay Pacific has announced that 8,500 jobs will be cut, about a quarter of its total global staff, and its regional subsidiary Cathay Dragon has ceased operations. Financial Secretary Paul Chan said, “as Hong Kong’s most important local airline, if this life-or-death issue is not properly addressed, the situation would harm Hong Kong’s international aviation hub status and development in the region, and adversely impact other local economic activities to the detriment of the overall interests of Hong Kong.”
22/10/2020 - 8:09am Business and Market Discussion
Personal Wealth Advisor Enzio von Pfeil says that Cathay Pacific's restructuring and job cuts are setting a precedent and other large local companies could follow suit, something he warns might amplify social unrest.
Alex Frew McMillan, Writer at Dragonfly Media highlights that Cathay Pacific is in a trickier position than mainland airlines as it has no domestic routes to rely on.
22/10/2020 - 8:25am View from Taiwan
The global equity market selloff continued into Asian trading on Tuesday, but US stocks snapped a four-day losing streak. US shares are on track for their first monthly loss since March. Banks have come under pressure after accusations that several global banks, including HSBC and Standard Chartered, have allowed illicit international payments amounting to US$2 trillion in total, to flow through their accounts, despite being warned that they were suspicious. A sell-off in shares of HSBC and Standard Chartered deepened yesterday in Hong Kong, taking their losses to more than 7% over two days.
23/09/2020 - 8:08am Business and Market Discussion
Andrew Freris, CEO of Ecognosis Advisory says that the Hong Kong government should do more to support the local economy as the territory's fiscal reserves remain robust and could even withstand a deficit.
Patrick Bennett, Macro Strategist at CIBC World Markets highlights that accommodative monetary and fiscal policies help to maintain higher asset prices but it is not having the same impact on consumer spending.
RTHK's International Economics Correspondent Barry Wood warns that decentralisation prevents the US from containing the Covid-19 pandemic as individual states can implement measures at their own discretion.