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 from 8 a.m. to 8.30 a.m. every weekday morning 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") .
The Financial Times is reporting that Hong Kong Chief Executive Carrie Lam has offered to resign on several occasions in recent weeks following mass protests over the controversial extradition bill. However, according to the FT, Beijing insisted that Ms Lam “has to stay to clean up the mess she created”, adding “no one else can clean up the mess and no one else wants the job.”
Anheuser-Busch InBev has pulled the IPO of Budweiser APAC, its Asia-Pacific business, which was due to list in Hong Kong, in the world’s biggest IPO of the year. The cancellation came after offers for the shares had been received below the HK$40-$47 per share target. The company had hoped to raise up to US$9.8 billion and would have used the proceeds to pay down debt.
Chinese telecoms manufacturer Huawei is planning extensive layoffs in the United States, following its blacklisting, according to The Wall Street Journal. The lay-offs are expected to affect jobs at Huawei’s US-based research and development subsidiary Futurewei Technologies, which employs about 850 people in research labs across the United States.
Chinese investment abroad has dropped to a five-year year low, according to the law firm Baker McKenzie. Chinese companies invested just US$12.3 billion in North America and Europe in the first half of the year, almost a fifth less than last year.
China is to impose sanctions on US companies involved in arms sales to Taiwan, after the US announced last week a plan to sell weapons worth US$2.22 billion to the island. China’s foreign ministry said, the sales "undermine China's sovereignty and national security."
The US Federal Trade Commission has imposed a US$5 billion fine on Facebook for privacy lapses over the company’s 2018 Cambridge Analytica scandal. The settlement is the largest ever fine imposed by the FTC on a tech company. The FTC investigation into Facebook began in March 2018 after it was revealed that political consulting firm Cambridge Analytica had improperly accessed the data of 87 million Facebook users.On today’s programme we’re joined by Anthony Chan of Union Bancaire Privée and David Roche from Independent Strategy. Providing the view from the mainland is Brock Silvers of Kaiyuan Capital in Beijing. In the second half of the programme, our ‘Monday Debate’ takes a look at how the extradition bill protests are impacting Hong Kong businesses, trade and the economy. With their thoughts are Legislator Kenneth Leung, Ronald Arculli, Former Chairman of Hong Kong Exchanges and Clearing along with Tara Joseph, President, of the American Chamber of Commerce in Hong Kong.
15/07/2019 - 8:00-8:20 Market Discussion
Anthony Chan, Chief Asia Investment Strategist of Union Bancaire Privée believes that the big disappointment in economic data from the mainland over the past two months has been the retracement in infrastructure investment.
David Roche, President and Global Strategist from Independent Strategy says there is no justification for a rate cut in the US as the recent data has been booming.
15/07/2019 - 8:20-8:30 View from China
15/07/2019 - 8:30-9:00 Monday's Debate - Economic Impact of recent protests
Legislator Kenneth Leung sees the death of the extradition bill as being a relief to the business community, but the protests will be a serious concern if they involve more violence.
Ronald Arculli, Former Chairman of Hong Kong Exchanges and Clearing doubts the sources related to the Financial Times report claiming that Hong Kong Chief Executive Carrie Lam has tried to resign several times in recent weeks but Beijing has rejected her resignation.
Tara Joseph, President of the American Chamber of Commerce in Hong Kong suggests the Hong Kong government give young people more opportunities to learn successful leadership skills.