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") .
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
President Trump said he will reimpose tariffs on the export of steel and aluminium from Brazil and Argentina. He accused the two countries of a massive currency devaluation which was hurting US farmers. Commerce Secretary Wilbur Ross said yesterday that time is running out for the US and China to agree on a trade deal before December 15, when the US is set to impose an additional 15% tariff on around US$156 billion worth of Chinese goods.
Retail sales in Hong Kong slumped by the most on record in October, declining 24.3% y/y. Financial Secretary Paul Chan said that the six months of turmoil has subtracted some 2% from economic growth. He predicted the territory’s government is likely to see its first fiscal deficit in 15 years.
Financially troubled Hong Kong Airlines could be grounded within a few days unless it can find a new cash injection. The Air Transport Licensing Authority could revoke or suspend its operating permit and will announce its decision by December 7.
Manufacturing in the private sector in China expanded for the fourth month in a row and hit its fastest pace in three years in November. The Caixin Markit Manufacturing Purchasing Managers' Index rose to 51.8, up from 51.7 in the previous month.
On today’s Money Talk we’re joined by Louis Kuijs of Oxford Economics and Anthony Chan from Union Bancaire Privee. Providing the view from Japan is Tokyo-based journalist & author, William Pesek.
03/12/2019 - 8.08am Business and Market Discussions
Louis Kuijs, Head of Asia Economics at Oxford Economics expects the fall in Hong Kong retail sales and the economy to worsen , because of the sharp drop in tourist numbers.
Anthony Chan, Chief Asia Investment Strategist at Union Bancaire Privee suggests that the Hong Kong government offer incentives to small firms that are affected by the recession in Hong Kong.
03/12/2019 - 8.23 am View from Japan