Thread by @MoneyTalkR3

On today's Money Talk; The #IMF has warned that the #Covid19 health crisis will cause “lasting damage” to the global economy, which is now projected to contract by 4.4% in 2020. The Fund also cut its growth forecast for 2021 to 5.2%.
1/13

Imports into #China hit their highest dollar amount on record in September. The latest trade data showed imports surging by 13.2% to a record $203bn, massively beating forecasts of a rise of just 0.1%. Exports jumped by the most since March 2019, rising 9.9%.
2/13

The World Trade Organisation has ruled that the #EU may impose taxes of up to US$4bn on US goods annually as punishment for subsidies provided to Boeing. Last year, the #WTO cleared the #US to impose tariffs on US$7.5bn of EU items.
3/13

#Apple has unveiled its new iPhone 12 handsets which will be its first to work on faster 5G networks. The higher-end iPhone 12 Pro models have bigger screens than before, and Apple has extended the range to include a new "Mini" model that has a smaller 5.4in screen.
4/13

Passenger car sales in #China rose by 8% in September compared with a year earlier. The numbers were boosted by a 60% jump in electric vehicle sales. Overall automotive sales including trucks, buses and other commercial vehicles, rose by 13%.
5/13

The #UK unemployment rate surged to its highest level in over 3 years in the 3 months to Aug, rising to 4.5%, up from 4.1% in the previous quarter and 3.9% a year earlier. The number of people claiming out of work benefits rose to 2.7m, more than double its level in March.
6/13

#India’s industrial output fell 8% y/y in August, because of the impact of the #coronavirus pandemic on manufacturing output. However, this is a recovery from June and July when industrial output was respectively 15.7% and 10.4% lower.
7/13

Inflation in #India surged to an eight-month high of 7.34% in September, pushed up by a sharp rise in vegetable prices.
8/13

Stocks on Wall Street fell for the first time in 5 days following mixed earnings reports and after clinical trials for two #coronavirus drugs were paused, dragging down travel stocks. The S&P 500 index closed 0.6% lower at 3,511.
9/13

In #China, the Shanghai Composite Index closed almost unchanged at 3,359. The rally since markets reopened after the Golden week holidays has taken the total value of Chinese domestic shares to over US$10 trillion, for the first time since 2015.
10/13

In the currency markets, both the #euro and #sterling dropped with just 48 hours to go until the #UK deadline for reaching a #Brexit agreement and no sign of a deal.
The Euro is down half a percent at $1.17 ½
Sterling dropped 1% to $1.293 and HKD 10.03
11/13

On today’s Money Talk we're joined by Stewart Aldcroft, Chairman of CitiTrust, Le Xia, Head of Research & Chief Economist at Ping An Technology Company and RTHK’s International Economics Correspondent Barry Wood in Washington, D.C.
12/13

Money Talk is live on @rthkradio3 from 8am, Monday to Friday. You can listen live across #HongKong on AM 567, via our App “RTHK On The Go” or by downloading the podcast here; rthk.hk/radio/radio3/p…
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