Peter Lewis: A fast moving and topical business and finance show.
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") .
Japanese Prime Minister Shinzo Abe has declared a state of emergency in Tokyo and six other prefectures, accounting for half of Japan’s economic output, to contain the coronavirus. He also announced a record US$1 trillion stimulus package, equivalent to 20% of GDP.
The Trump Administration is preparing more fiscal stimulus to help the US economy. The government is in talks with Congress to secure an additional US$250bn to fund loans for small businesses hit by the coronavirus pandemic.
In Hong Kong, Liberal Party leader Felix Chung warned yesterday that the territory’s manufacturing and export sectors are being hit harder by the Covid-19 crisis than even the city's floundering retail and catering firms. He reiterated his call for the government to start paying 50% of workers' salaries up to a cap of HK$18,000 per month, to help businesses avoid laying people off.
On today’s Money Talk we’re joined by Stewart Aldcroft from CitiTrust, Louis Kuijs at Oxford Economics and RTHK’s International Economics Correspondent, Barry Wood.
08/04/2020 - 8:08am Business and Market Discussion
Stewart Aldcroft, Chairman of CitiTrust says that countries' way of cooperating in tackling the economic impact of the COVID-19 virus may define the trajectory of their trade relations in the long term.
Louis Kuijs, Head of Asia Economics at Oxford Economics points out that the disrupted supply chain in Europe and the US will not have a long term impact on the economy since factories can easily resume. However, he warns that demand will remain a cause of concern as the resumption of domestic consumption could be a lengthy process.
RTHK's International Economics Correspondent Barry Wood highlights that provisions of the US's payroll protection program will do little to help those working in the tourism sector.
US President Donald Trump and Congressional leaders have agreed to a US$2 trillion economic relief package, following five days of intense negotiations. It will be the largest US stimulus package in US history. However, passage of the bill in the Senate has been held up following a dispute between a group of Republican Senators and Bernie Sanders over some of the provisions in the bill. That caused stocks on Wall Street to fall back from their highs of the day.
The volume of imports into the US from China has collapsed by an “unprecedented” amount over the first two weeks of March, according to the latest figures from supply chain data company, Panjiva. Chinese goods into the US fell by 45% over the first half of March compared to the same period a year ago.
On today’s Money Talk, we’re joined by Enzio von Pfeil at St. James’s Place and Peter Churchouse of Portwood Capital. Also with us is Chris Dillon of Dillon Communications to talk about Hong Kong property.
26/03/2020 - 8:03-8:23 Business and Market Discussion
Enzio von Pfeil, Associate Partner & Private Wealth Adviser at St. James's Place see another 18% fall in the S&P 500 before it bottoms as markets tend to drop by 40% on average during crashes..
Peter Churchouse, Founder of Portwood Capital points out that the US is likely to end-up with significant debt as a result of the recent stimulus packages and he forecasts a "Japanization" of the country's economy in two to three years.
26/03/2020 - 8:23-8:30 Property