Money Talks
2,203 episodes - English - Latest episode: 11 months ago -Dedicated to helping our audience navigate the bumpy economic road ahead. With in-depth reports and analysis, Money Talks makes the news your business.
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Protests erupt in Beirut as currency hits record low
March 27, 2023 08:19 - 5 minutes VideoThe International Monetary Fund has warned that Lebanon is going through a very dangerous period, as its economic collapse deepens. In April, the IMF reached a preliminary agreement with Beirut on a 3-billion dollar conditional bailout package. But nearly a year after, officials are yet to implement the necessary reforms to unlock the 4-year financing programme. There's been outrage on the streets over the harsh economic conditions. Police clashed with angry protesters in Beirut after the Leb...
Govt secures $3B IMF bailout to salvage bankrupt economy
March 27, 2023 08:10 - 2 minutes VideoSri Lanka has secured a three billion dollar bail-out from the International Monetary Fund, as the island nation looks to shore up its economy. But that money is expected to be tied to austerity measures like tax hikes and spending cuts, leaving Sri Lankan people uncertain about their future. Daniel Padwick reports.
Cryptocurrencies seen as safe-haven amid banking crisis
March 27, 2023 08:02 - 4 minutes VideoAs customers pull their money from banks, they're looking for more profitable investment options. One of them is cryptocurrencies. They have steadily regained value as demand grows- with the price of Bitcoin hitting 28-thousand dollars for the first time in 9 months. Emre Boz reports.
Fed stays course on inflation fight despite bank panic
March 27, 2023 07:27 - 6 minutes VideoOn Wednesday, the US Federal Reserve raised interest rates by 25 basis points. Now they're around 5 percent, up from near zero just a year ago. The rapid shift in monetary policy has spelled disaster for several banks and raised the specter of a contagious bank run that prompted the US Treasury to pull the savings of uninsured deposits out of the abyss. So far, authorities have kept panic from spreading, but how did the US economy get here? Wilson Dizard has this report.
Oil prices fall as US holds off refilling strategic reserves
March 24, 2023 12:03 - 5 minutes VideoAsia-Pacific markets are mixed this morning, and oil is edging lower amid concerns over the banking industry. US West Texas Intermediate is trading at $69 a barrel while the international benchmark Brent is at $75 a barrel. That's down from over a hundred dollars last year after Russia's attack on Ukraine shook global supply, as fears of a recession in the US mount. Officials say refilling the strategic petroleum reserve will take longer than expected. That means demand will rise slower. The...
US indices close lower after Federal Reserve rate hike
March 23, 2023 11:57 - 5 minutes VideoBorrowing costs will continue to rise in the US, as the Federal Reserve decided to look past a banking crisis and continue its campaign against inflation. Markets gritted their teeth in anticipation of the 25 basis point increase announced on Wednesday. The base interest rate is now almost five percent, up from near zero in February of last year. The Fed acknowledged that the swift tightening of credit had caught some banks off guard. While Fed Chairman Jerome Powell signaled that this might ...
Bitcoin tops $28,000 for first time in nine months
March 22, 2023 14:14 - 4 minutes VideoThe price of bitcoin has topped $28,000 for the first time in nine months after the banking crisis sparked a market rally. That's as investors view the currency as an alternative to the banking system and as somewhat of a 'safe haven'. Despite this, crypto firms are now scrambling to find institutions to bank with after the collapse of both digital-friendly institutions Signature Bank and Silvergate Capital. And it looks as if they are now turning to crypto banks based in Switzerland, which h...
UBS agrees to 'emergency rescue' of Credit Suisse
March 20, 2023 10:56 - 5 minutes VideoAsian stocks are sliding as much as 3% today after Swiss lender UBS agreed to buy its banking rival Credit Suisse in a $3.25 billion takeover. The government-backed deal corresponds to a capitalization that is far below the level at which Credit Suisse was trading on Friday. The Swiss National Bank said the deal was the best way to restore confidence in financial markets and the credit environment in Switzerland. Credit Suisse saw its shares tumble last week after its largest investor, the Sa...
Turkish football team Galatasary hosts charity auction for earthquake victims
March 20, 2023 09:46 - 2 minutes VideoMore than a month after southeastern Turkiye was devastated by earthquakes, relief efforts continue. From government institutions to NGOs and even sports clubs, aid has been coming in from all directions. One of the country's top football clubs, Galatasaray, has been auctioning special items for the cause. Tayyibe Aydin reports. #Galatasaray #TurkiyeEarthquakes #Football
Surging costs of energy affect global business operations
March 20, 2023 09:28 - 4 minutes VideoSoaring energy bills are dealing another blow to businesses that have barely recovered from the fallout of the COVID-19 pandemic. According to a recent survey, small and large businesses across various sectors remain concerned about the impacts of energy instability. #EnergyCrisis #Europe #CarbonEmissions
Japan's workers get biggest pay rises in decades
March 20, 2023 09:19 - 5 minutes VideoJapanification - an economic term describing the stagnation Japan's economy faced for three decades after the early 1990s. The period is known as the lost decades. The Japanese economic miracle throughout the 20th century had come to an end and Japan was stuck on a deflationary spiral. Prices kept going down despite the government's aggressive policies to spike demand. Now, Japan faces its next challenge - a declining GDP and the highest inflation it has ever seen in over 4 decades. Emre Boz ...
Billions of dollars come to the rescue of regional banks
March 20, 2023 08:29 - 9 minutes VideoHow safe is your money in the bank? The value of currencies can rise and fall, but the presence of your cash in your account should not be a question. In the US, several bank failures occurred after the institutions failed to hold bonds worth enough money to cover what depositors had. The US government has acted rapidly to ease concerns, but will it be enough? Wilson Dizard reports. #CreditSuisse #SVB #SignatureBank
Global equities gain as banking sector lifelines boost confidence
March 17, 2023 14:17 - 5 minutes VideoMarkets are back with a vengeance as eleven major US banks poured $30 billion in deposits to save First Republic Bank, including Bank of America, Citigroup, JPMorgan Chase, and Wells Fargo. European stocks closed higher yesterday, with banking stocks up 1.24%. Credit Suisse's embattled stocks finished the session up 19% after the Swiss National Bank said it would provide a liquidity backstop to the bank. Asia stocks are also rising across the board as Wall Street moved to shore up the banki...
Credit Suisse surges 40% after $54B lifeline by Swiss National Bank
March 16, 2023 11:52 - 4 minutes VideoAs the Silicon Valley Bank meltdown starts to cool, across the Atlantic major European banks are starting to see alarms flashing red. Credit Suisse's stock price dropped 30 percent on Wednesday before surging up 40 percent on news of its salvation by the Swiss National Bank. The bank says that it has enough money, but a Bloomberg interview with the head of the Saudi National Bank at an investor conference on Wednesday spooked markets. SNB is one of Credit Suisse's biggest shareholders, and Ch...
China reports retail sales growth for first two months of year
March 15, 2023 11:13 - 4 minutes VideoChina lifted strict COVID-19 rules at the end of 2022, but its first months of reopening are off to a disappointing start. Real estate investments fell and retail sales remained sluggish. Big-ticket items and home appliances saw the largest declines in sales, while trade in online physical goods rose the most. Unemployment in cities also ticked up to 5.6 percent in February, and the unemployment rate for young people remains persistently high, standing at over 18 percent. A deeply indebted h...
Global financial stocks lose $465B in two days on SVB crisis
March 14, 2023 11:22 - 7 minutes VideoDespite reassurance from the US government, officials, and central bankers, yesterday saw a market meltdown, with US regional banking stocks posting their steepest losses in three years. That happened in the wake of the Silicon Valley Bank collapse on Friday. European stocks also plunged, with the Italian FTSE Mib tumbling more than 4%. Banking stocks in the EU posted their worst day in a year. There are steep losses in Asian stock markets as well, especially in Tokyo. The dollar posted its ...
White House and congress intensify scrutiny on TikTok
March 13, 2023 09:33 - 3 minutes VideoThe United States used to be the home of all things social media, but it's been challenged in recent years by Tik Tok, a video-sharing app based in China that has been one of the fastest-growing in history. The US government has become concerned about possible national security concerns over the app, and its effect on US consumers' privacy. TikTok denies that it has any relationship with the Chinese government, but that's not enough to satisfy lawmakers. Wilson Dizard has this report on what ...
Gender pay gap could cost world economy $7T
March 13, 2023 09:17 - 4 minutes VideoMarch eighth marks International Women's Day. It celebrates the achievements of women in all fields and raises awareness of women's and gender issues. But the day also highlights the disparity between men and women in the workforce. This contributes to the stymieing of women and costs the global economy trillions of dollars.
Businesses begin to reopen in quake-hit areas
March 13, 2023 09:14 - 7 minutes VideoIt's been over a month since the February 6th twin earthquakes decimated the southeast of Turkiye. Turkish authorities now focus on rehabilitation and rebuilding in the affected provinces. For a deeper analysis of this Murat Ferman joined us from Istanbul. He is an economist and professor at Beykent University.
US and global markets focus on Fed Chair Powell's statements
March 13, 2023 08:43 - 7 minutes VideoAll eyes were on Capitol Hill as Federal Reserve Chairman Jerome Powell was giving a two-day semi-annual monetary policy testimony before Congress. His remarks about the economy, inflation, and the Fed's actions were met with questions from Senate Banking Committee members. These were related to jobs and unemployment, household debt, the debt ceiling, geopolitical uncertainty, climate crisis, and cryptocurrency. Meanwhile, the US has just reported its widely-anticipated monthly jobs report ...
Asian stocks fall after Fed hints at further rate hikes
March 10, 2023 14:12 - 4 minutes VideoAs Chinese President Xi secured another term, Asian stocks saw a sea of red. And that's in part due to fears of further US federal reserve hikes. New US jobs data is set for Friday, which could change the federal reserve's course on interest rates. The Fed's tighter monetary policy has hit venture capital hard. And that's spelled a steep dive in share prices for Silicon Valley Financial Group, which handles money for half of listed tech and healthcare start-ups in the US. It's selling 1.75 b...
Crypto Bank Silvergate announces 'Voluntary Liquidation' as regulation puts sector under scrutiny
March 09, 2023 12:52 - 4 minutes VideoThe rapid and ruthless humbling of crypto prices last year has slowed down, but the consequences for crypto companies continue. Silvergate Bank is the latest casualty. It's going out of business. The bank did business with some of the crypto market's biggest players and was responsible for around 11 billion dollars in customer assets. Those will now be handed back to their owners, but the firm's unpaid liabilities are an open question. The firm called the move a voluntary liquidation. It come...
Markets sink after Federal Reserve Chairman promises further rate hikes
March 08, 2023 09:41 - 6 minutes VideoThe cost of borrowing dollars is going to continue to increase, and that's bad news for Asian stocks. Hong Kong's index fell 2 percent on Wednesday. The rout in equities came after Federal Reserve Chairman Jerome Powell told US congress that interest rate hikes will continue. That's after a recent report showed prices for consumers started rising again. That dashed hopes the US economy could avoid a recession while still taming inflation. Crucial bond market indicators are also flashing red-...
Uganda begins oil drilling, hopes for production by 2025
March 06, 2023 13:52 - 12 minutes VideoUganda and its partners have begun the initial drilling process in its oil-rich Albertine region to start production by 2025. Despite criticism, the East African country is hoping its oil wealth creates more economic growth than problems.
The world's richest took more than half of all new wealth since 2020
January 24, 2023 12:37 - 5 minutes VideoBritish charity organisation Oxfam says the world's richest people have grabbed nearly twice as much wealth as the rest of the global population put together over the past two years. Didem Demircan is the Coordinator at KEDV, the Foundation for Support of Women's Work. She gave us an insight into the decades of unfair tax cuts for the super-rich and corporations that have fueled inequality, with the poorest people in many countries paying higher prices. #Oxfam #RichestPeople #GlobalWealth
Oil prices fall as US recession fears mount
January 19, 2023 09:39 - 2 minutes VideoOil prices fell around 1% on worries of a possible US recession. That's as US retail sales continued their fall in December, dropping by 1.1% as inflation remained high. For more on this, Stephen Innes joined us from Bangkok. He is a Managing Partner at SPI Asset Management. #Oil #BrentCrude #USRecession
UK inflation falls slightly to 10.5%, core CPI unchanged
January 18, 2023 13:06 - 4 minutes VideoInflation in the UK is trending downward, showing declines in December for a second straight month-- in line with expectations. For more on this, Naeem Aslam joined us from London. He's chief market analyst at AvaTrade. #UK #Inflation #ConsumerPrices
Asian shares trade at 7-month highs ahead of US consumer price data
January 12, 2023 12:37 - 2 minutes VideoAsian shares are trading at 7-month highs ahead of US consumer price data that investors hope will confirm inflation is in retreat. Danni Hewson is a financial analyst at AJ Bell. She tells us more about how China's reopening could affect global markets. #AsianStocks #ChinaReopening #Inflation
Coinbase to slash 20% of workforce in second major round of cuts
January 11, 2023 13:22 - 3 minutes VideoCrypto exchange coinbase is slashing around a fifth of its workforce as it looks to preserve cash during a crypto market downturn. The exchange plans to cut 950 jobs, according to a blog post published Tuesday morning. Naeem Aslam is Chief Market Analyst at AvaTrade in London. We asked him if the industry can resurrect from its ashes after a 60% drop in valuation in recent months. #Coinbase #Cryptocurrencies #Bitcoin
Brazilian President Lula vows to reverse Bolsonaro era policies
January 11, 2023 10:32 - 7 minutes VideoMarkets in Brazil are recovering after a sharp sell-off that occurred soon after President Luiz Inacio Lula da Silva was inaugurated on New Year's Day. Investors were concerned by mixed messages from some members of Lula's new cabinet, sparking fears that the economy was in the wrong hands. But the president says he's committed to reversing controversial policies introduced by his fiscally- conservative predecessor, Jair Bolsonaro. Melinda Nucifora reports and Remi Piet, senior partner at Emb...
Turkiye's biggest Fintech Summit took place in Istanbul
December 23, 2022 06:34 - 2 minutes VideoFinancial technology, better known as ‘fintech’, is rapidly becoming one of the big buzzwords in the business and technology world. It’s a multi-billion dollar industry that’s changing everything from how we make payments to how we get loans. TRT World’s Tulay Kalyon Haznedaroglu went to Turkiye’s biggest fintech summit, Webrazzi 2022, to find out more about what some call the future of finance. #Turkiye #Fintech #Webrazzi
Global growth expected to be as weak next year as 2009
November 25, 2022 09:14 - 2 minutes VideoThe World economy is expected to be as weak as it was in 2009 right after the financial crisis. That's what the Institute of International Finance said, adding that the conflict in Ukraine now risks becoming a 'forever war'. Global growth is expected to slow to 1.2% in 2023. The slowdown will be led by Europe, which is impacted most by the war. For more on this, we spoke to Stephen Innes, who is managing partner at SPI Asset Management. #GlobalEconomy #EconomicGrowth #2023Outlook
Türkiye launches probe on FTX founder Sam Bankman-Fried
November 24, 2022 13:09 - 4 minutes VideoTürkiye has launched an investigation on Sam Bankman-Fried, former CEO of crypto exchange FTX, over fraud allegations. Turkish authorities have also seized the assets of FTX and its affiliates under the probe. For more on this, we spoke to blockchain researcher Turan Sert, who is advisory board member at Paribu. #FTX #Türkiye #CryptoRegulations
Oil prices sink as EU considers price cap on Russian oil
November 24, 2022 11:33 - 3 minutes VideoOil prices dropped as the European Union considered a higher than expected price cap on Russian crude. Increasing signs of a global slowdown also took a toll, amid mounting headwinds in the two largest economies, threatening energy demand. EU officials discussed setting the ceiling for Russian seaborne exports at $65 to $70 a barrel. For more on this, we spoke to Jameel Ahmad, who is the chief investment strategist for MENA at Alpari. #OilPrices #PriceCap #RussianOil
New Zealand central bank delivers its biggest ever rate hike
November 23, 2022 09:28 - 4 minutes VideoNew Zealand's central bank delivered a 75 basis point hike. That is the biggest rate hike ever in the central bank history. The New Zealand's exchange is down 0.85% and the Australian ASX200 is up 0.7%, despite the Reserve Bank of Australia governor Philip Lowe on Tuesday hinting at more rate hikes ahead. For more on this, we spoke to Naeem Aslam, who is the chief market analyst at AvaTrade. #NewZealand #InterestRates #Inflation
Dollar steadies as China pandemic fears linger
November 22, 2022 09:20 - 3 minutes VideoThe dollar has steadied, paring some of its strong overnight gains today, after investors flocked to the safe-haven currency amid China's COVID flare ups. China's capital warned on Monday that it was facing its most severe test of the COVID-19 pandemic, with a surge in cases sparking fresh restriction measures. For more on this, we spoke to Russ Mould, who is the investment director at AJ Bell. #Dollar #China #COVID
B20 promotes collaboration among developed and emerging nations
November 21, 2022 11:09 - 4 minutes VideoInnovation, inclusiveness and collaboration… Global business leaders say these are the three pillars upon which the world can rebuild economic growth. Two thousand industry figures met in Bali this week for the B20 conference, a gathering of global business leaders that takes place just before the G20 summit. Our correspondent Melinda Nucifora sat down with the B20 chairperson, Shinta Kamdani. #B20 #Development #Sustainability
Leaders of top 20 biggest economies meet in Indonesia
November 21, 2022 11:03 - 5 minutes VideoG20 Summit took place on the Indonesian island of Bali last week. Russian President Vladimir Putin decided to skip the proceedings that were inevitably dominated by the war he started in Ukraine, and the global crises that have arisen from it. The summit ended with a joint declaration in which most members "strongly condemned" the Russia Ukraine conflict. It's a crisis other leaders blame for making the state of the global economy worse. Leaders also reaffirmed their commitment to the global ...
World population hit 8B in November, UN estimates
November 21, 2022 11:01 - 7 minutes VideoThe UN estimates the world's population passed 8B last week. While that means people having been living longer thanks to better healthcare, it also raises questions about how a growing population will affect both economies and the environment for the years to come. Tayyibe Aydin reports. For more on this, we spoke to John Wilmoth, who is the population division director at the United Nations' Department of Economic and Social Affairs. #WorldPopulation #Sustainability #8Billion
Israeli leader Netanyahu to face cost of living crisis
November 21, 2022 10:56 - 2 minutes VideoVeteran Israeli politician Benjamin Netanyahu was officially tasked with forming a government earlier this week, after he and his ultra-orthodox and nationalist allies emerged clear winners of this month's elections. Netanyahu has previously spent more than a decade in power, and is currently facing corruption charges. And now he's tasked with tackling Israel's affordability crisis. #Isreal #Netanyahu #Bibi
Qatar ready for World Cup 2022 after years of preparations
November 21, 2022 10:54 - 3 minutes VideoQatar is keeping its eye on the ball as it welcomes hundreds of thousands of football lovers from across the globe. After years of preparation and hundreds of billions of dollars in spending, the gas-rich Gulf nation is now hoping to reap the benefits of hosting the prestigious FIFA World Cup. Paolo Montecillo reports. #Qatar2022 #WorldCup #FIFA
Oil prices drop as China imposes new pandemic-related curbs
November 21, 2022 09:11 - 3 minutes VideoShares in the Asia-Pacific region are falling today, and oil prices are also down by nearly a dollar as COVID concerns in China are on the rise. The nation recorded its first virus-related deaths since May this year. For more on this, we spoke to Han Tan, who is the chief market analyst at Exinity Group. #China #COVID19 #OilPrices
UK Chancellor Hunt unveils budget plan, boosting taxes
November 17, 2022 13:10 - 4 minutes VideoThere's a lot riding on the success of Downing Street's new budget, given the current state of the world's fifth largest economy. The main concern for most consumers will be inflation, which reached a multi-decade high of more than 11% in October. The British economy is also on the brink of a recession, with GDP shrinking slightly in the third quarter. That means fewer jobs and lower incomes for households, and smaller profits for businesses. For more on this, we spoke to Denis MacShane, who...
FTX investors write down assets after bankruptcy declaration
November 17, 2022 09:27 - 4 minutes VideoSingapore state investor Temasek Holdings said it would write down the value of its entire investment of $275M in collapsed crypto currency exchange FTX. FTX's other backers such as SoftBank Group's Vision Fund and crypto-focused hedge fund Sequoia Capital have also marked down their investment to zero after FTX, founded by Sam Bankman-Fried, filed for bankruptcy. We spoke to Susannah Streeter, who is investment analyst at Hargreaves Lansdown in the UK. #FTX #Temasek #SoftBank
Safe-haven dollar gains as traders assess risks from Poland
November 16, 2022 13:07 - 2 minutes VideoThe safe-haven US dollar edged higher against major peers on Wednesday as markets continued to assess news of a rocket striking NATO-member Poland, and whether it could lead to an escalation of the Ukraine war. We spoke to Craig Erlam for the details. He is a senior market analyst at OANDA in London. #Dollar #Poland #MissileStrike
Amazon plans to lay off about 10,000 employees this week
November 16, 2022 11:43 - 2 minutes VideoAmazon is planning to lay off approximately 10,000 employees in corporate and technology roles beginning this week, according to a report from The New York Times. Separately, the Wall Street Journal also cited a source saying the company plans to lay off thousands of employees. The cuts would be the largest in the company's history and would primarily impact Amazon's devices organization, retail division and human resources. We spoke to Danni Hewson, who's a financial analyst at AJ Bell in t...
More than $200B wiped from crypto market last week
November 16, 2022 11:19 - 4 minutes VideoOne reason Apple has been spared from the slump is because it doesn't rely on ads. The decline of other Silicon Valley giants is partly due to crypto ads drying up. The cryptocurrency market was worth an eye-watering $3T just one year ago. Crypto's global market cap is now less than $900B. We discussed this further with crypto market analyst Jessica Walker, who's also Chief Marketing Officer at the fintech company, Fluid Finance. #Cryptocurrency #AdRevenues #JessicaWalker
Shares in tech companies continue plunging amid shrinking ad revenues
November 16, 2022 10:15 - 2 minutes VideoSome Big Tech companies like Meta and Alphabet have recovered their recent losses off the back of the US October inflation report that showed consumer prices were cooling off faster than expected. The industry's biggest names reported disappointing results, leading to a sharp fall in stock prices and mass layoffs. Is the worst over for tech or do they have further to fall? Tayyibe Aydin takes a look. #TechFirms #TechStocks #Earnings Tech companies, tech earnings, tech firms, tech stocks, t...
G20 business group: Emerging economies suffering the most
November 14, 2022 14:10 - 1 minute VideoMoving on now to the Indonesian island of Bali, where finance industry leaders and politicians have gathered for the B20 conference. The group is considered the business arm of the G20, and provides recommendations to governments regarding economic policy. Our correspondent Melinda Nucifora met with B20 host, Arsjad Rasjid. He says wealthy countries need to pay more attention to emerging economies if the world as a whole is to prosper. #G20 #Inflation #EmergingCountries
114-year old Japanese candy maker loses battle against inflation
November 14, 2022 13:46 - 2 minutes VideoA famed Japanese candy company, which survived even after World War Two, has succumbed to inflation. Sakuma Seika has decided to close its doors after more than a century as the country's economy sours. #SakumaSeika #Candy #Inflation