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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UK reverses tax cut proposal after market, public backlash
October 03, 2022 13:02 - 4 minutes VideoThe British government has taken a U-turn on tax cuts that would have cost government coffers billions of dollars in much-needed revenues. In a statement, the finance ministry said Downing Street was scrapping a plan to trim the top income tax rate to 40% from 45%. For the details, we spoke to Danni Hewson, AJ Bell’s financial analyst. #Britain #IncomeTax #Pound
Oil prices rally as OPEC+ alliance plans major output cut
October 03, 2022 09:13 - 2 minutes VideoOil prices are rallying as the world's crude exporters prepare to significantly reduce production for the rest of the year. The international benchmark Brent has risen more than 3% to $87 a barrel. That comes amid speculation that the multinational oil cartel OPEC+ is planning to slash output by a million barrels a day. For more on oil market, we spoke to Han Tan, Exinity Group’s chief market analyst. #OilPrices #OilSupply #OPEC
British currency falls to record low as Truss bares tax cuts
October 03, 2022 07:54 - 8 minutes VideoIn Britain, the sterling has started to recover from a volatile trading week. Investors soured on the currency after the government announced tax cuts that would saddle a struggling economy with tens of billions of dollars in additional debt. As a result, the pound, which was once at the centre of global finance, fell to its lowest value on record. Paolo Montecillo has more. For the details, we had Professor Hilary Ingham and economist Robert Gilhooly. #UnitedKingdom #Pound #MiniBudget
Businesses set to leave China as economy falters
September 30, 2022 15:37 - 6 minutes VideoChina is bracing for one of its worst slowdowns in more than four decades as its strict zero-COVID-19 policy continues to weigh on the economy. It's another challenge for Beijing which is already struggling to cope with a collapsing real estate market and an ongoing trade war with the US. Miranda Lin reports. For more on China’s economy, we were joined by economist Taha Arvas on the set. #China #ChineseEconomy #EconomicGrowth
Market Movers: Italy's new PM to face economic challenges ahead
September 30, 2022 15:33 - 2 minutes VideoFor the first time since the Second World War, a far-right coalition led by Giorgia Meloni has emerged victorious in the country's general election. But despite winning with a clear majority, the macro-economic environment that the coalition is now to face couldn't be more turbulent. #ItalyElections #GiorgiaMeloni #ItalianEconomy
Deluge threatens to worsen food insecurity in Nigeria
September 30, 2022 14:58 - 2 minutes VideoNigeria is facing its worst deluge in at least a decade. The floods have claimed more than 300 lives across 27 states. Among the worst-hit areas, are the country's rice paddies. And as Tayyibe Aydin reports, if the water doesn't recede soon, an acute food shortage already affecting millions of Nigerians could worsen. #Nigeria #Floods #FoodSecurity
‘Get rich quick schemes are too good to be true’
September 30, 2022 14:55 - 2 minutes VideoWild swings in the prices of stocks, bonds and commodities are driving a growing number of investors to seek better returns in riskier assets. But schemes that promise stellar returns, but leave investors holding the bag, are on the rise. We spoke to London Academy of Trading Managing Director, Paddy Osborn. He tells us how to succeed in a volatile trading environment. #GetRichQuick #Trading #Investment
UK economy averts immediate recession with 0.2% expansion
September 30, 2022 09:37 - 3 minutes VideoThe UK economy grew in the second quarter, averting a summer recession despite the cost of living crisis. The 0.2% growth was a surprise improvement on the previous estimate of a fall of 0.1%, the Office for National Statistics said Friday. The expansion in the second quarter means the economy is not in a technical recession, as many thought. For more on UK economy, we were joined by Craig Erlam, who is a senior market analyst at OANDA in London. #UnitedKingdom #UKEconomy #Inflation
European stocks set to rebound after BOE placates markets
September 29, 2022 09:13 - 4 minutes VideoEuropean stocks are heading for a higher open on Thursday after the Bank of England said it would purchase bonds to steady its financial markets and prop up the plummeting British pound. The sterling has stooped to record lows against the U.S. dollar in recent days. For more, we were joined by Han Tan, who is the chief market analyst at Exinity Group in Abu Dhabi. #UnitedKingdom #Pound #StockMarket
UK tax cuts package estimated to cost around $45B
September 28, 2022 13:01 - 1 minute VideoIn a rare statement, the International Monetary Fund said that the new economic measures laid out by the UK government will likely increase inequality. The fiscal package, which included hefty tax cuts for Britain's highest earners, aims to help families and businesses handle the energy shock, but the IMF does "not recommend large and untargeted fiscal packages at this juncture". #UnitedKingdom #TaxCut #Pound
Chinese yuan drops to weakest level since 2008 as growth falters
September 28, 2022 10:10 - 2 minutes VideoMajor indices in the Asia-Pacific region slumped 2% after the S&P 500 set a new 2022 low overnight on Wall Street. The offshore and onshore Chinese yuan fell to its weakest level since 2008 and the Indian rupee also marked a record low. For more on this, we spoke to Danni Hewson, who is a financial analyst at AJ Bell in the UK. #Yuan #Rupee #Markets
Oil prices steady on prospect of balancing supply
September 27, 2022 08:49 - 3 minutes VideoOil steadied in early Asian trade on Tuesday as indications that producer alliance OPEC+ sought to avoid a collapse in prices, along with a slight softening in the US dollar, tempered an earlier selloff. For more on this, we spoke to Russ Mould, who is the investment director at AJ Bell. #OilPrices #OilMarket #OPEC
British pound hits record low against the US dollar
September 26, 2022 09:36 - 3 minutes VideoThe British pound plunged to a record low on Monday morning in Asia, following last week's announcement by the new UK government that it would implement tax cuts and investment incentives to boost growth. Sterling briefly fell 4% to an all-time low of $1.03 on Monday in Asia. For more on this, we spoke to Susannah Streeter, who is an investment analyst at Hargreaves Landsdown. #Pound #UnitedKingdom #TaxCut
Ethereum completed long-awaited Merge upgrade
September 23, 2022 15:37 - 3 minutes VideoEthereum has finally completed its highly-anticipated major software upgrade as it looks to address environmental concerns. According to the Ethereum Foundation, the merge will help its network to consume 99-point-95 percent less energy compared with the older proof of work principles. Alex de Vries is a financial economist, and he says the upgrade could draw in more environmental-focused investors to the world's second largest cryptocurrency. #Ethereum #Merge #EnergyConsumption
Australian firm transforms old farms into lush forests
September 23, 2022 15:34 - 2 minutes VideoAustralia cuts down its trees and flattens its forests faster than any other rich nation in the world. According to the environmentalist group the Worldwide Fund for Nature, some 430,000 square kilometers of the country's forests have been destroyed since 2004. That's had a severe impact on its unique biodiversity, and contributes to global heating. As Paolo Montecillo reports, efforts to reverse that trend are gaining momentum. #Australia #Forest #Environment
Power outages take toll on South Africa's economy
September 23, 2022 15:21 - 4 minutes VideoSouth Africa is in the throes of an energy crisis. Citizens are facing daily power outages that last upwards of six hours. And when the lights are on, utility bills are skyrocketing. The lack of electricity is forcing industries to cut output and jobs. President Cyril Ramaphosa skipped the United Nations General Assembly to hold a series of emergency meetings, to resolve the crisis. Tayyibe Aydin reports. For more on this, we spoke to Agnes Gitau. She's managing partner at GBS Africa, an adv...
Major central banks hike interest rates
September 23, 2022 15:20 - 12 minutes VideoNearly a dozen central banks across the globe raised their benchmark interest rates during the week, in a bid to rein in rising consumer prices. The US Federal Reserve has been pushing up borrowing costs since March. It has announced its latest rate hike of 75 basis points, on Wednesday. Other central banks also have to contend with rising demand for US dollars. For more on monetary policies around the world, we had Mario Unali from Milan and Amine Nedjai from London. #FederalReserve #Inter...
Turkish President Erdogan to hold meeting on Mir payment system
September 23, 2022 10:19 - 3 minutes VideoTurkish President Recep Tayyip Erdogan is meeting with economic managers on Friday, partly to discuss the fate of the Russian payments system Mir. Two of Türkiye's largest banks, Denizbank and Isbank, have already suspended the use of the Mir platform this week. State-owned financial institutions, Halkbank, Vakif and Ziraat, continue to allow Mir transactions on their networks. #Mir #Sanctions #PaymentSystems
US central bank raised benchmark rates by 75 basis points
September 22, 2022 09:14 - 3 minutes VideoFederal Reserve hikes interest rates by 75 basis points on Wednesday. Global stocks are in free fall as monetary policy makers in the US pledged to keep up their fight against inflation, even if it comes at the expense of economic growth. For more on US monetary policy, we spoke to Danni Hewson, who is a financial analyst at AJ Bell in the UK. #FederalReserve #InterestRates #Inflation
Crude oil, natural gas prices spike amid continued supply fears
September 21, 2022 08:52 - 4 minutes VideoEnergy markets are surging amid continued uncertainty over supply levels, due to the crisis in Ukraine. The commodity erased losses from overnight caused by fears over lower demand from a weak global economy. Adding to worries over the availability of oil is the failure of the world's producers to pump out what they've promised. Latest available data show the global cartel OPEC+ is, on average, more than 3.5M barrels short of its daily output goal. For more on energy markets, we spoke to Da...
Share prices surge ahead of key central bank meetings this week
September 20, 2022 09:06 - 3 minutes VideoGlobal markets are up on Tuesday as investors wait for a string of central bank moves aimed at tackling surging consumer price hikes. Many expect another rate hike by the US Federal Reserve. Monetary policymakers in the UK and Japan are also expected to announce higher borrowing costs this week. For more on global markets, we spoke to Naeem Aslam, who is the chief market analyst at AvaTrade in London. #CentralBanks #InterestRates #Inflation
China slashes benchmark rates, hikes stimulus to prop up economy
September 19, 2022 09:39 - 2 minutes VideoChina is yet again bucking the global trend of interest rate hikes, with policymakers there slashing borrowing costs to prop up a struggling economy. The central bank in Beijing has announced a slight reduction in its main benchmark rates, to encourage lenders to extend more credit to households and businesses. For more on Chinese economy, we spoke to Han Tan, who is the chief market analyst at Exinity Group in Abu Dhabi. #China #InterestRates #PBOC
Global heating rages as nations focus on securing dirty fuel
September 16, 2022 16:40 - 6 minutes VideoThere's no end in sight to the crisis in Ukraine, and the turmoil it's caused in energy markets. So in major economies, discussions among policymakers now revolve around how much fuel they can get, from where, and at what price. That's drowned out calls for governments and companies to wean themselves off fossil fuels that are destroying the planet. But as Paolo Montecillo reports, there are still some who have their priorities straight. For more, we were joined by UN Environment Programme C...
Turkish start-up provides innovative way to fight food waste
September 16, 2022 16:11 - 1 minute VideoOne third of food products go uneaten into the garbage. That's according to the UN Environment Programme, which estimates this food waste adds up to more than 1.3B tonnes each year. That's enough to feed every single person living below the poverty line, four times over! Turkish start-up Fazla Gida is one of many companies now trying to find innovative solutions to this global problem. #FazlaGida #FoodWaste #FoodPrices
Market Movers: US inflation data hurt market optimism
September 16, 2022 16:07 - 4 minutes VideoOn Tuesday, the Dow Jones had its worst day since June 2020. All this took place after a key August inflation report came in hotter than expected, hurting investor optimism for cooling prices and a less aggressive Federal Reserve. While global markets are gripped by fear of a looming economic recession, one industry that seems to be staving off the slowdown, is technology. Mark Chaffey is CEO at Hackajob, a recruitment platform for tech firms. He says the sector's demand for skilled workers ...
EU proposes $140B windfall tax on energy companies
September 16, 2022 16:03 - 8 minutes VideoSpiraling energy prices are threatening to shut down thousands of businesses across the EU. But the crisis is also reviving fortunes for some. Output from nuclear reactors is being raised and coal power plants, which were closed due to their environmental impact, are getting a new lease on life. Energy companies are reeling in billions of dollars in profit, and now officials want them to do more to rein in inflation. Tayyibe Aydin reports. For more, we spoke to independent analyst Neil Atkin...
China industrial production, retail sales beat expectations
September 16, 2022 14:44 - 3 minutes VideoShares in the Asia-Pacific are falling today as investors digest US economic data but also China's industrial production and retail sales figures for August, which beat expectations. This indicates that a recovery in certain facets of the economy remains steady despite headwinds from new COVID-related curbs. For more, we spoke to Russ Mould, investment director at AJ Bell in London. #China #ChineseEconomy #StockMarket
Oil edges higher on potential US rail stoppage
September 15, 2022 11:48 - 3 minutes VideoOil prices edged higher on Thursday as the market balanced weak demand with supply disruption amid a looming rail stoppage in the United States, the world's biggest crude consumer. Biden administration-led talks between freight-rail companies and unions to avert a US rail system shutdown extended into early Thursday morning with no word on whether progress has been made. For more, we spoke to AJ Bell’s financial analyst, Danni Hewson in the UK. #UnitedStates #RailStrike #OilPrices
US stocks fall after hotter than expected inflation report
September 14, 2022 09:27 - 3 minutes VideoIt was one of the worst days for stock markets since early in the pandemic, with investors losing more than a trillion dollars in wealth in a single trading session. All major US indices fell overnight and the pessimism is spreading to other financial centers. We spoke to Naeem Aslam, who is the chief market analyst at AvaTrade in London. #UnitedStates #Inflation #StockMarket
Dollar slips and US stocks make gains ahead of inflation report
September 13, 2022 09:01 - 4 minutes VideoThe dollar has hit the lowest level in one month, with stock markets rising significantly ahead of the US inflation report that will be out today. Inflation is still very high, but it is expected to have moderated in August. For more on inflation reading, we spoke to Equiti Capital’s market analyst, David Madden in London. #UnitedStates #Inflation #Dollar
Oil prices drop amid China COVID curbs, possible rate hikes
September 12, 2022 10:18 - 3 minutes VideoOil prices fell on Monday with the global fuel demand outlook overshadowed by COVID-19 restrictions in China, and the potential for further interest rate hikes in the United States and Europe. For more on oil market, we spoke to Exinity Group’s chief market analyst, Han Tan in Abu Dhabi. #OilPrices #ChinaLockdowns #InterestRates
New British PM Liz Truss faces worsening cost-of-living crisis
September 09, 2022 17:20 - 12 minutes VideoBefore the news of Queen Elizabeth the Second's death, soaring energy and consumer prices dominated public discussion in the UK. Consumers have seen their purchasing power deteriorate at a record pace. Inflation there is running at its highest in 40 years, due mainly to the war in Ukraine, and the resulting spike in energy costs. Britain's new leader, Prime Minister Liz Truss, has made easing the burden on consumers her top priority. Paolo Montecillo has more. We spoke to economist Vicky Pry...
Aviation giants gear up to launch their own flying car models
September 09, 2022 16:52 - 1 minute VideoIf you’ve ever been stuck in a traffic jam and wished you could just fly over the gridlock, the XP4 could be the answer. Developed by British mobility firm Airvolution, it’s a flying car capable of carrying up to four passengers. And the company says it's ready for takeoff, accepting bookings from the first batch of buyers. #FlyingCars #Airvolution #SamsonSky
Vessels start sailing as fishing season begins in Türkiye
September 09, 2022 16:49 - 2 minutes VideoFishing season has kicked off in Türkiye as the official annual ban comes to an end. Fishermen are beginning to cast their nets into the three seas around the Anatolian peninsula, with hopes of higher yields. Kubra Akkoc reports. #Türkiye #FishingSeason #BlackSea
EU sets out plan to rein in energy prices, boost supplies
September 09, 2022 16:47 - 7 minutes VideoIn Europe, where authorities are struggling to control surging prices of food and fuel. Natural gas flows from the region's main supplier, Russia, have been all but cut-off. That's driven prices of the fossil fuel up to ten times higher. The European Commission says one way they can reduce energy costs, is by capping the price that EU member countries can pay for Russian natural gas. The price caps under discussion are part of a broader plan to rein in runaway energy prices. Brussels wants to...
Federal Reserve hints at more rate hikes amid elevated inflation
September 09, 2022 11:50 - 4 minutes VideoCentral bankers in the world's major economies are determined to bring inflation under control, even if it means sacrificing some short-term economic growth. That was made clear this week by Jerome Powell, head of the US Federal Reserve. His comments follow the move by the European Central Bank in Frankfurt to raise its benchmark rate by 75 basis points. That's the biggest hike in borrowing costs in eurozone history, with inflation in the 19-member bloc running at a record high. David Madden...
Oil prices fall to seven-month lows as demand weakens
September 08, 2022 08:52 - 3 minutes VideoOil prices are recovering slightly after a major slump overnight, amid fears the global economy is heading for a recession. The price of a barrel of crude is now down to its lowest since the crisis in Ukraine began. For the details, we spoke to Russ Mould, who is the investment director at AJ Bell in the UK. #OilPrices #OilDemand #Recession
China trade data disappoints, signals global recession
September 07, 2022 09:25 - 3 minutes VideoAsian and European markets are down across the board, due to mounting signs that the global economy is heading for, or already is, in a recession. The latest red flag comes out of China, where exports grew just over 7% in August. That's below most projections, and far slower than July's figure of 18%. For the details, we spoke to Danni Hewson, who is a financial analyst at AJ Bell in the UK. #China #Trade #Recession
OPEC+ decides to recut oil output over recession expectations
September 06, 2022 08:53 - 3 minutes VideoOil prices have declined slightly, despite an announcement by the global cartel that it's trimming output next month. The alliance OPEC+ led by Saudi Arabia says it's cutting production levels by 100,000 barrels a day in October. Meanwhile, the European Union is moving to address its own energy crunch with a proposed cap on the price of gas from Russia, its leading supplier. That's in response to Moscow's decision to shut down the key Nord Stream pipeline to Germany. For more on global ene...
Germany announces $65B stimulus package to help consumers
September 05, 2022 14:26 - 3 minutes VideoGermany has announced a fresh stimulus package to help consumers cope with the nation's cost of living crisis. The $65B measure includes tax breaks for energy firms, so they can pass on the savings to households and businesses. There will also be cash handouts to students and pensioners. For more, we spoke to Peter Oliver from Berlin. #Germany #BailoutPackage #OlafScholz
Ukraine crisis saps demand for Egyptian jasmine exports
September 05, 2022 12:57 - 1 minute VideoAround 95% of the world's jasmine supply comes from just two countries: India and Egypt. In Egypt, the trade of the fragrant flower has had a tough few years, first hit by the pandemic and then the war in Ukraine. Sena Saylan has the story. #Egypt #Jasmine #Agriculture
China’s tech giants posted worst quarter on record
September 05, 2022 12:55 - 1 minute VideoAfter thriving during the first two years of the pandemic, tech giants in China have taken a serious hit this quarter, as the world's second largest economy continues to enforce its strict zero-COVID policy. #China #TechnologyFirms #TechEarnings
Sri Lanka to receive $2.9B from IMF over four years
September 05, 2022 12:53 - 3 minutes VideoIt is the worst economic crisis Sri Lanka has faced, since its independence. But now, it is finally getting a lifeline from the International Monetary Fund. Colombo will receive $2.9B in several tranches over the next 48 months. In return, the government will raise taxes, cut subsidies on electricity and petrol. It will also pass legislation to make the central bank more independent. We spoke to economist Chayu Damsinghe to get more on Sri Lanka’s economy. #SriLanka #SriLankanEconomy #IMF
Founder of failed crypto exchange Thodex arrested in Albania
September 05, 2022 12:49 - 5 minutes VideoThe founder and CEO of the failed Turkish cryptocurrency exchange Thodex has been arrested in Albania. Faruk Fatih Ozer, is wanted for fraud after he fled Türkiye last year, allegedly fleecing depositors of billions of dollars. The 27-year-old could face tens of thousands of years in jail. For more, we spoke to economist Taha Arvas in Istanbul. #Thodex #FarukFatihOzer #Cryptocurrency
Millions left homeless, roads and bridges washed away in Pakistan
September 05, 2022 12:13 - 8 minutes VideoExtreme floods have devastated lives and livelihoods in Pakistan, with more than a-third of the country now underwater. The death toll has climbed past 1,200 while tens of millions of people have been affected as homes, farmland and infrastructure are washed away. The UN has launched a major international appeal, with initial losses expected to cost the already cash-strapped country billions of dollars. Tayyibe Aydin reports. For more, we spoke to economist Ali Khizar from Lahore. #Pakistan...
OPEC+ alliance seeking to reverse recent decline in crude prices
September 05, 2022 09:00 - 4 minutes VideoOil prices are climbing to start the week, as investors wait for the latest word on supply levels from the world's top producers. The international crude benchmark Brent is up 2% to trade at around $95 a barrel. Energy markets are also in turmoil following Russia's decision to keep its natural gas pipeline to Germany closed indefinitely. Berlin has announced a $65B bailout plan to help Europe's largest economy cope with its worsening energy crunch. For more on energy market, we were joined b...
US restricts sale of high-tech computer chips to Chinese firms
September 01, 2022 13:19 - 3 minutes VideoShares in American semiconductor makers have fallen, due to fresh restrictions by Washington on the sale of hi-tech components to China. Investors in chip designer Nvidia have lost more than 6%, while rival AMD saw its stock price fall almost 4%.Ava Trade’s chief market analyst, Naeem Aslam weighs in from London. #USChina #AIChips #TradeWars
Oil investors grapple with prospects of OPEC supply cuts and fears of weaker demand
August 30, 2022 12:59 - 3 minutes VideoOil prices settled up more than 4%, extending last week's gain, as potential OPEC+ output cuts and conflict in Libya helped to offset a strong US dollar and a dire outlook for US growth. For more, we are joined by Craig Erlam, who is a senior market analyst at OANDA. #OilPrices #BrentCrude #OPEC+
Global stocks plunge after Powell’s rate hike warning
August 29, 2022 10:08 - 2 minutes VideoJerome Powell's comments from Jackson Hole economic symposium have shaken markets across the board. The S&P 500 erased all August gains in one session, while Asian markets are all painted red. For more, we’re joined by Han Tan, who is Exinty Chief Market Analyst in Abu Dhabi. #FED #JacksonHole #Powell
Market Movers: Euro trades at two-decade low against US dollar
August 26, 2022 15:37 - 2 minutes VideoThe euro is trading at a two-decade low against the US dollar, with analysts predicting that the situation could worsen before the end of the year. The single currency is expected to continue sliding further, and is also being pushed down by the strengthening dollar. But what exactly does a low euro mean? We analyze winners and losers of euro’s depreciation. #Euro #Dollar #Parity