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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Wall Street has best day since 2020 after slower than expected inflation data
November 11, 2022 09:11 - 3 minutes VideoGlobal markets are green across the board to end the week amid optimism over the prospects of the world's two largest economies. In the US, official data showed consumer prices rose less than expected in October. Investors are taking this as a sign that the Federal Reserve will start slowing down the interest rate hikes that have been choking economic activity. Craig Erlam joined us for the details. He is a senior market analyst at OANDA in London. #Markets #WallStreet #Inflation
Global markets mixed as investors wait for US election results
November 09, 2022 10:43 - 4 minutes VideoGlobal markets are in a bit of a holding pattern as investors wait for the results of midterm elections in the US. The battle for control of both houses of Congress is being seen as a referendum on President Joe Biden and his economic policies. Naeem Aslam joined us for the details. He is the chief market analyst at AvaTrade in the UK. #Markets #Midterm2022 #Election
Asia Pacific stocks mostly rise ahead of US midterm elections
November 08, 2022 09:56 - 3 minutes VideoStocks in the Asia-Pacific traded mostly higher early as investors digest the Bank of Japan's summary of opinions and look ahead to the US midterm elections. European markets are also heading for a mixed open ahead of midterm elections, which will determine which party will control Congress and could affect the direction of future spending. Danni Hewson joined us for the details. She is a financial analyst at AJ Bell in the UK. #StockMarket #MidtermElections #BankofJapan
Market Movers: Fed, BoE hike interest rates
November 07, 2022 10:22 - 1 minute VideoThe Federal Reserve has approved a fourth consecutive three-quarter point interest rate increase this week. The Fed also signaled a potential change in how it will approach monetary policy to bring down inflation. Meanwhile, Bank of England has raised interest rates to 3%, marking the biggest rise for 33 years. #FederalReserve #BankofEngland #InterestRates
China's exports unexpectedly shrink in October
November 07, 2022 10:09 - 3 minutes VideoChina's exports unexpectedly fell in October, with a drop in the value of goods sold to the US and EU, according to Chinese customs data released Monday. COVID restrictions in China are also hurting the economy. Apple said in a statement on Sunday that it has temporarily reduced iPhone 14 production in its primary China factory. For more on Chinese economy, we spoke to Jameel Ahmad, chief investment strategist for MENA at Alpari. #China #Trade #Export
Modhera becomes India's first fully solar-powered village
November 07, 2022 08:59 - 2 minutes VideoModhera has become India's first fully solar village, transforming the lives of poor residents. Solar panels installed on buildings are helping businesses and people reduce their electricity bills, while the world is facing a deepening energy crisis. Paolo Montecillo reports. #Modhera #SolarPower #Electricity
Russia resumes participation in Black Sea grain deal
November 07, 2022 08:58 - 5 minutes VideoThis week we saw the Black Sea Grain Initiative saga unfold. Russia suspended its involvement in the grain deal before deciding to rejoin it. The agreement allows key supplier Ukraine to ship agricultural produce to the rest of the world. The deal was brokered by Türkiye and the UN in July. It ensures the safe passage of cargo ships carrying grain from Ukrainian ports after they were blocked by Russia. For more on the story, we spoke to economist Taha Meli Arvas. #Grain #Russia #Ukraine
Europeans turn to firewood as oil and gas prices surge
November 07, 2022 08:21 - 2 minutes VideoWith winter approaching, countries in Europe are facing a new stark reality and people are turning to wood to offset the loss of Russian natural gas supplies. Firewood has become a hot commodity, and across the continent, people are paying a premium so they can stay warm as the war in Ukraine rages on. Tulay Kalyon Haznedaroglu has more. #Europe #Energy #Firewood
UN: Emissions goals insufficient to limit global heating
November 07, 2022 07:49 - 11 minutes VideoThe United Nations warns harmful global heating emissions are at record levels. And current commitments to slash emissions, particularly by the world's largest polluters, still fall far short. Managing the climate crisis has also become harder because of the war in Ukraine, which has made governments re-think their own clean energy goals. And as our experts have laid out, the ongoing conflict has also led to massive profits for producers of the world's dirtiest fuels. For more on this, we sp...
Hong Kong stocks surge on China reopening rumors
November 04, 2022 09:07 - 3 minutes VideoHong Kong stocks rose 7% on Friday, with tech and consumer cyclical stocks driving the surge. That's amid China reopening rumors, and a report that US inspections of Chinese company audits were completed more quickly than expected. For more on Chinese economy, we spoke to Jameel Ahmad. He is the chief market analyst for MENA region at Alpari. #China #ChineseEconomy #AsianShares
US Federal Reserve hikes rates by 75 basis points to highest since 2008
November 03, 2022 09:28 - 3 minutes VideoThe Federal Reserve on Wednesday approved a fourth consecutive three-quarter point interest rate increase and signaled a potential change in how it will approach monetary policy to bring down inflation. Asian markets are all painted red, with Hong Kong leading losses and the dollar has strengthened against the euro and against major Asian currencies. For more on this, we spoke to Han Tan. He is the chief market analyst at Exinity Group. #UnitedStates #Federal Reserve #Interest rates
Oil climbs on demand hopes after big drawdown in US stockpiles
November 02, 2022 09:46 - 3 minutes VideoOil prices are rising today after industry data showed a surprise drop in US crude stockpiles, suggesting demand is holding up. But prices are also rising on a weaker US dollar, and after rumours trending on social media, that the Chinese government is considering ways to relax COVID rules from March 2023. For more on this, we spoke to Naeem Aslam. He is the chief market analyst at AvaTrade. #OilPrices #OilDemand #OilSupply
Eurozone economic growth slowed sharply in the third quarter
November 01, 2022 10:32 - 3 minutes VideoEconomic growth in the Eurozone slowed sharply in the third quarter, reflecting the impact of higher inflation on both consumers and households. GDP in the three months to September rose just 0.2% quarter on quarter. On an annual basis, economic activity was up by 2%, or less than half the expansion recorded in the previous three months. For more on this, we spoke to Craig Erlam. He is a senior market analyst at OANDA. #Eurozone #EconomicGrowth #Inflation
Global markets rally ahead of US Federal Reserve rate meeting
November 01, 2022 08:42 - 3 minutes VideoGlobal stocks are rising, as investors turn more hopeful that the US Federal Reserve may slow down the pace of rate hikes to support economic growth. That's ahead of the American central bank's two-day policy meeting that begins Tuesday. Most analysts expect a rate hike of 75 basis points, matching what it's done in the last three meetings. For more on this, we spoke to Stephen Innes. He is managing partner at SPI Asset Management. #StockMarket #FederalReserve #InterestRates
Oil prices decline as COVID-19 curbs weigh on Chinese economy
October 31, 2022 08:55 - 4 minutes VideoChinese factory output shrank in October as Beijing continued to choke the nation's industries with the use of lockdowns against COVID-19. Official data released on Monday show the purchasing manager's index for the manufacturing sector fell to 49.2 points this month. That grim report is weighing on the price of crude, because China is the world's top importer of the stuff. For more on this, we were joined by Guido Cozzi. He is a macroeconomics professor at University of St. Gallen. #China...
New initiative aims to develop Benin's textile sector
October 31, 2022 07:01 - 2 minutes VideoCotton is the leading export commodity in Benin, making up 61% of all shipments. But almost all of it is exported raw. The government is hoping to develop the country's textile sector, with the goal of making apparel for consumer markets around the world. #Benin #Cotton #Textile
Meta shares plunge to their lowest value since 2016
October 28, 2022 16:02 - 3 minutes VideoShares of Meta, one of the most famous companies in the world, have been in a death spiral. The company issued a weak forecast for the fourth quarter and came up well short of Wall Street's expectations when it came to earnings. Stocks are down as much as 70% this year. We've seen the impact of all this across the board: Alphabets, Amazon, Microsoft, even Pinterest shares plunged this week. The Nasdaq as a whole is down around 30% this year only, and it's on course for its worst annual perfor...
Elon Musk completes $44B buyout of social media platform Twitter
October 28, 2022 16:00 - 5 minutes VideoAfter months of legal wrangling and suggestions he wanted to pull out of the deal, Elon Musk has finally taken control of Twitter. The outspoken billionaire has tweeted about his new $44B acquisition, as the company's CEO and CFO were shown the door. He's expected to step in as Twitter's interim chief executive, while also remaining at the helm of Tesla and SpaceX. And as Melinda Nucifora reports, all eyes will be on how Musk will transform the struggling social platform. For more on this, w...
Sunak inherits massive problems as Britain's latest PM
October 28, 2022 15:43 - 7 minutes VideoRishi Sunak became Britain's third prime minister in less than two months on Tuesday. But he inherits a government facing political and economic chaos. His government has already delayed the announcement of its plan to repair the country's public finances by more than two weeks, to ensure the programme reflects the latest and most accurate forecasts. Tulay Kalyon Haznedaroglu explains the economic challenges that Sunak now faces. For more on British economy, we spoke to economist Taha Arvas....
Credit Suisse has reported massive loss ahead of restructuring
October 28, 2022 15:36 - 1 minute VideoCredit Suisse is restructuring its business as the bank attempts to put years of scandals behind it. The Swiss lender has finally outlined its long-awaited overhaul, what its chairperson Axel Lehmann dubbed a 'blueprint for success', after reporting $4B of net losses in the third quarter. But the radical turnaround plan could involve up 9,000 job losses. #CreditSuisse #Restructuring #Earnings
Amazon stock sinks 13% on weak Q4 guidance
October 28, 2022 10:26 - 4 minutes VideoAmazon shares plummeted 13% in extended trading on Thursday after the company issued a disappointing Q4 forecast and missed on revenue estimates. Like the rest of Big Tech, Amazon has had a rocky year so far as it confronts macroeconomic headwinds, soaring inflation and rising interest rates. For more on this, we spoke to Susannah Streeter, who is an investment analyst at Hargreaves Lansdown. #Amazon #Nasdaq #Earnings
European natural gas prices have fallen sharply this week
October 27, 2022 13:03 - 5 minutes VideoThe International Energy Agency has said the world faces its first "truly global energy crisis" as a result of the war in Ukraine. The conflict is expected to have long-lasting effects on energy supply and markets. Despite this, natural gas prices in Europe have been plunging in the past two days. For more on energy markets, we spoke to Yousef Alshammari, who is the CEO of CMarkits and Senior Research Fellow at Imperial College London. #Energy #NaturalGas #GasPrices
Tech stocks plummet as Microsoft, Google disappoint
October 26, 2022 09:09 - 2 minutes VideoUS tech stocks tumbled in after-hours trading after some of the industry's biggest companies reported disappointing results, suggesting that this year's $5.5T selloff hasn’t reached bottom yet. The quarterly updates from Microsoft Corp., Alphabet Inc. and Texas Instruments Inc. underscored growing pressure on everything from corporate IT budgets to digital ad spending and chips for industrial machinery. For more, we spoke to Naeem Aslam, who is the chief market analyst at AvaTrade in London....
Investors calm as Rishi Sunak set to be UK's new prime minister
October 25, 2022 09:29 - 4 minutes VideoThe British pound is trading higher against the US dollar and the euro on Tuesday after the announcement that Rishi Sunak would replace Liz Truss as UK Prime Minister. Sunak will be formally confirmed as the country's new leader today amid a period of economic turbulence. For more, we spoke to Jameel Ahmad, who is the chief investment strategist for MENA at Alpari in Dubai. #RishiSunak #UnitedKingdom #Pound
Chinese economy grew by 3.9% in three months to September
October 24, 2022 08:53 - 4 minutes VideoStocks in Hong Kong are trading at their lowest in more than a decade as investors continue to sour on the health of the Chinese economy. Data released on Monday showed the Chinese economy grew by 3.9% in the three months to September. That was better than forecast, but it did little to bolster market sentiment. For more, we spoke to Han Tan, who is the chief market analyst at Exinity Group in Abu Dhabi. #ChinaEconomy #ChinaGDP #StockMarket
Market Movers: US banks report sharp declines in Q3 earnings
October 24, 2022 07:55 - 3 minutes VideoAs the world's largest economy continues to slow down, its largest banks are preparing for the worst. US lenders are propping up allocations to deal with bad loans and contending with a drop in demand for new investments. For more, we spoke to economist and professor Joann Weiner, the director of the Applied Economics graduate programme at George Washington University. She says she doesn't believe that the US economy is going to a long and protracted recession. #UnitedStates #WallStreet #Ba...
Liz Truss resigned as PM on Thursday after weeks of turmoil
October 24, 2022 07:53 - 8 minutes VideoIn the UK, Prime Minister Liz Truss has resigned just 44 days after taking office. Truss had come to power, promising to rein in the rising cost of living and reinvigorate the slowing economy. But her government's plan to cut taxes unravelled due to a lack of finances and many members of parliament from her own party threatened to vote her out, prompting Truss to step down. For the details on UK economy, we were joined by economists Luke Bartholomew and Taha Meli Arvas. #BritishEconomy #Liz...
Azerbaijan opens airport, agropark in reclaimed territory
October 21, 2022 14:58 - 2 minutes VideoAzerbaijan has opened a second airport in an area liberated from Armenian occupation. Azerbaijani President Ilham Aliyev says Türkiye was pivotal in the reconstruction of this area that had been disputed for decades. Hasan Abdullah has more. #Azerbaijan #Karabakh #Zangilan
Recession risks rise in Europe as energy costs mount
October 21, 2022 14:55 - 7 minutes VideoMoving on to the EU now, where the cost of living is also on the rise. Much of that is tied to the cost of energy, which has skyrocketed as the bloc piles sanctions on Moscow for the bombs it's dropping on Ukraine. That's forcing policymakers in Brussels and other European capitals to search for new suppliers of gas and oil, two much needed commodities as weather on the continent gets colder. Paolo Montecillo reports. For more on this, we spoke to Noah Brenner, executive editor at Energy Int...
British markets slump as investors digest Truss' resignation
October 21, 2022 09:27 - 2 minutes VideoBritish markets are heading lower amid the continuing fallout from the resignation of Prime Minister Liz Truss. Truss' downfall was the result of a deeply unpopular economic programme that called for tax cuts, and therefore more debt on the back of taxpayers. Focus now turns to how the ruling Conservative Party plans to respond to the rising cost of living, and slowing economic growth. For more, we spoke to Jameel Ahmad, who is the chief investment strategist for MENA at Alpari in Dubai. #B...
Oil prices slump over signs of weaker demand from largest consumers
October 19, 2022 09:17 - 3 minutes VideoOil prices are recovering slightly after falling overnight on the expectation of weak demand from major producers. The first red flag raising worries among investors is China's refusal to report its third quarter economic data. In the US, President Joe Biden is reportedly planning to release more oil from the nation's emergency reserves. For more on oil market, we spoke to Danni Hewson, who is a financial analyst at AJ Bell in the UK. #Oil #OilPrices #OilMarket
China postpones release of third quarter economic data
October 18, 2022 08:53 - 3 minutes VideoThe Chinese government has suspended the release of economic data, stoking speculation of a major slump in the third quarter. This comes amid a congress of the ruling Communist Party, a gathering that happens twice a decade. The anticipated release of GDP data has been postponed with no official explanation. For more on this, we spoke to Stephen Innes, who is the managing partner at SPI Asset Management in Bangkok. #China #GDP #CommunistPartyCongress
UK Chancellor Jeremy Hunt reverses predecessor’s tax cuts
October 17, 2022 13:16 - 3 minutes VideoUK Finance Minister Jeremy Hunt used his first Monday on the job to announce that "almost all" tax measures announced by his predecessor would be reversed. On Friday, Prime Minister Liz Truss fired her Finance Minister Kwasi Kwarteng less than six weeks after the pair took office, appearing to blame the chaos sparked in financial markets by the budget he announced on September 23. For the details, we spoke to Vicky Pryce, who is a board member at CEBR in London. #LizTruss #JeremyHunt #UKEco...
IMF trims GDP forecast for 2023, says inflation to stay high
October 14, 2022 16:04 - 7 minutes VideoIMF and World Bank warn that a global downturn has become more likely, resulting in fewer new jobs, smaller household budgets, and a drop in corporate profits. A recession in major economies isn't for certain just yet, but business activity is slowing to a crawl. Rich nations, led by the US Federal Reserve, are raising interest rates at their fastest pace in decades. As a result, investors are diverting trillions of dollars in financing toward safe assets that are denominated in the greenback...
Market Movers: US new export law heats up global microchip war
October 14, 2022 15:46 - 2 minutes VideoThe US is taking aim at Chinese companies once again, in a 'micro-chips' war that has seen the Silicon tech industry and its Chinese counterpart arm-wrestle for nearly a year. Washington has now introduced new restrictions that have significantly raised the stakes in this conflict. Shares in top Chinese chipmakers shed $8.6B in market value in only one session this week, as new US export controls threatened to obstruct Beijing's plans for technological self-sufficiency. #Microchip #Semicondu...
Japan reopens to foreign tourists to lift economy
October 14, 2022 15:45 - 7 minutes VideoJapan's fight against COVID-19 has come at a steep cost for its economy. The yen has fallen to its lowest level in decades and the economy shrank in August. In a bid to restore growth, the government is now lifting travel restrictions and welcoming back tourists. But can a rebound in the industry save the economy? Tulay Kalyon Haznedaroglu explains. For more on Japan’s economy, we were joined by Professor Seijiro Takeshita. #Japan #Tourism #Travel
French oil strikes continue as petrol station queues worsen
October 14, 2022 14:59 - 6 minutes VideoDozens of cars have blocked streets in France after labor strikes at oil refineries choked fuel supplies nationwide. Unions say workers are struggling to keep up with runaway inflation, while oil companies are making windfall profits thanks to surging energy prices. Mobin Nasir has more. For more on that, we spoke to independent analyst, Neil Atkinson. #France #Strike #TotalEnergies
US stocks rally despite higher than expected inflation
October 14, 2022 10:38 - 3 minutes VideoGlobal stocks are surging to end the week following a major rally on Wall Street. Asian shares have risen, led by Japan's Nikkei index. Even cryptocurrency investors are celebrating, with bitcoin climbing 2%, and ethereum up 3%. That follows the release of inflation data that showed consumer prices in the US rose more than 8% annually in September. For the details, we spoke to Jameel Ahmad, Alpari MENA Chief Investment Strategist. #UnitedStates #Inflation #StockMarket
Oil heads for longest losing run since 2021 on slowdown fears
October 13, 2022 09:03 - 4 minutes VideoOil prices have fallen for a fourth day, and they are now set for the longest losing run in more than a year. And a weaker global demand outlook has depressed the market. Both OPEC and the US Energy Department have cut their demand outlooks. The energy market is under pressure as well from the dollar, which has rallied broadly, including against low-yielding currencies like the yen. For the details, we spoke to Craig Erlam, OANDA senior market analyst. #OilPrices #OilDemand #Dollar
IMF to downgrade global growth forecast for fourth time this year
October 11, 2022 13:04 - 4 minutes VideoThe International Monetary Fund is about to downgrade its global economic growth forecast for the fourth time this year only. As anticipated by the fund's managing director Kristalina Georgieva last week, the organization will downgrade its growth forecast for 2022 and 2023, blaming the combined effect of lingering COVID disruptions, Russia's attack on Ukraine, and climate disasters. For more on global economy, we were joined by Victoria Scholar, head of investment at Interactive Investor. ...
US to implement new export rules to block China’s access to chip market
October 10, 2022 08:49 - 2 minutes VideoShares in the Asia-Pacific fell on Monday, with Hong Kong's Hang Seng leading losses as Chinese chip stocks listed in the city plunged following new export rules from the US. The country has introduced sweeping export controls that will severely complicate efforts by Chinese companies to develop cutting-edge technologies with military applications, in one of the toughest actions President Joe Biden has taken against China. For the details, we spoke to Russ Mould from AJ Bell. #China #Microc...
Small business rents out pet alpacas for events
October 07, 2022 16:10 - 2 minutes VideoA small business in the US is offering party planners a unique way to spice up their events. Known for their smiling faces, alpacas are now helping spread cheer among Americans, making for unforgettable parties. Tayyibe Aydin reports. #Alpaca #Fluffy #Rent
Biotech start-up uses AI to detect overlooked breast cancer
October 07, 2022 16:05 - 2 minutes VideoAccording to the World Health Organization, about one in eight women in the US will develop invasive breast cancer over the course of her lifetime. But mammograms, the most widely used tool for detecting the disease still come with a high rate of human error. That reduces the chances patients will be treated in time, or and in some cases, be treated at all. UK-based AI start-up is trying to reduce the human error to nearly zero, giving women far more chances to survive. Ludovica Brignola has ...
Report: Cyber intrusion crimes up 50% in first six months of 2022
October 07, 2022 16:02 - 2 minutes VideoEvery 7 minutes, an authorized account log-in is attempted by hackers. That’s according to the Threat Hunting Report published by cyber security firm, CrowdStrike. We spoke to its director of incident response services, Stuart Davis. He explains who these hackers are, and what they want. #Intrusion #CyberSecurity #Hack
Argentinians fall back on barter economy as inflation soars
October 07, 2022 15:59 - 4 minutes VideoTo Argentina now where soaring inflation and a precipitous decline in the currency is making it difficult for people to carry out even basic transactions, like buying food. The government says it is taking steps to alleviate the crisis, but experts warn economic reforms could further squeeze incomes. As Tulay Kalyon Haznedaroglu reports, that’s led to the return of barter bazaars. Earlier, we spoke to Remi Piet in Miami. He's senior partner at Embellie Advisory. He says Argentina’s boosting ...
UN body warns central banks could trigger major recession
October 07, 2022 15:57 - 10 minutes VideoThe UN Conference on Trade and Development says the way conditions are looking now, the global economy is heading for its worst downturn in recent memory. And pointing the finger at central banks in rich nations, which, in their aggressive campaign to fight inflation, are squeezing the financial arteries that are vital to the health of the rest of the world. So, what exactly is causing all of this turmoil? It starts in the US, where the Federal Reserve has raised its benchmark rates from ze...
OPEC+ to slash oil output by 2M barrels a day in November
October 07, 2022 09:58 - 4 minutes VideoOil prices continue to climb following the decision by the world's top producers of the commodity to significantly reduce their output. Led by Saudi Arabia and Russia, the OPEC+ cartel said they're slashing their production by 2M barrels a day in November. That's the biggest cut since the height of the COVID-19 pandemic. For more on oil market, we spoke to Craig Erlam, senior market analyst at OANDA in London. #OPEC #OilPrices #OilSupply
Fitch downgrades UK credit rating outlook to 'negative’
October 06, 2022 09:09 - 5 minutes VideoThe British pound is weakening once again amid lingering doubts over the ability of Prime Minister Liz Truss to keep the nation's finances in good shape. In a statement, global debt watcher Fitch announced it now has a negative outlook for the UK's credit rating. That means it's less confident about Downing Street's ability to repay the nation's growing pile of debt. For more on this, we spoke to Susannah Streeter, investment analyst at Hargreaves Lansdown in Bristol, UK. #LizTruss #Britis...
Oil prices rally ahead of OPEC+ meeting in Vienna
October 05, 2022 09:00 - 3 minutes VideoOil prices are rising as the world's top producers of the commodity prepare to announce a deep cut in production. Investors will be closely watching the meeting of the multinational oil cartel OPEC+, led by Saudi Arabia and Russia. Many expect the alliance to announce that they're slashing their output by at least a million barrels a day. We spoke to Victoria Scholar, head of investment at Interactive Investor in London. #OilPrices #OPEC #OilSupply
UN agency calls on central banks to halt interest rate hikes
October 04, 2022 09:21 - 1 minute VideoCentral banks are acting too aggressively in their fight against inflation, threatening to plunge the global economy into a severe economic recession. That's according to a new report by the United Nations Conference on Trade and Development. The agency's calling on policymakers, particularly in rich nations, to take it easy on interest rate hikes. Meanwhile, the IMF has come to the defense of central banks, saying it's up to governments to support their economies. We spoke to David Madden,...