Money Talks

In Colombia, a former leftist rebel and a populist businessman took the top two spots in the country's presidential election. But neither candidate managed to get a majority of the votes needed to win the race. They're headed to a runoff this month. And as Sena Saylan reports, Colombians are looking for a leader who will help combat rising poverty and inequality.

#Colombia #ColombiaElection #ColombiaEconomy

Historic jump in borrowing costs takes place in the world's largest economy. Rising prices of food, fuel and other products have driven the US Federal Reserve to hike its benchmark interest rate by a three-quarters of a percentage point. That's the sharpest increase in interest rates since 1994. Other central banks are also swinging into action to tame rising prices. The Bank of England raised its lending rate by 25 basis points to 1.25% and the European Central Bank says it intends to raise rates multiple times this year.

We spoke to Claus Vistesen, chief Eurozone economist at Pantheon Macroeconomics. He joined us from London.

#InterestRates #Inflation #MonetaryPolicy

Global markets are still mired in volatility at the end of a week that saw trillions of dollars in losses for investors. In Asia, Japanese shares fell by 2% amid persistent fears that the global economy is on the verge of another recession. But the bigger concern for consumers will be the price of oil. The international crude benchmark Brent rose more than one percent following Washington's announcement of new sanctions on Iran's oil sector.

For more on global economy, we spoke to Danni Hewson, who is financial analyst at AJ Bell in the UK.

#GlobalEconomy #StockMarkets #IranSanctions

The Bank of England has hiked rates for the fifth time in a row to try and rein in inflation. The Monetary Policy Committee voted 6-3 to increase the benchmark lending rate by 25 basis points to 1.25%. The bank faces the difficult task of bringing consumer prices back under control against a backdrop of slowing growth and a rapidly depreciating currency, as well as a major cost of living crisis in the UK.

For more on the story, we were joined by Massimo Massimilla, who is partner and CIO of Albemarle Asset Management, in London.

#BankofEngland #UnitedKingdom #InterestRates

Asian markets are rising after the largest Fed rate hike since 1994, with European markets set to join the global rally later on today. The Federal Reserve raised benchmark interest rates 75 basis points on Wednesday in a move that equates to the most aggressive hike in 29 years. This is as it is scrambling to contain a disruptive surge in inflation, which is proving much more difficult to tame than expected. Despite the big increase at this month's meeting, the Fed's chair Jerome Powell has indicated that he is not expecting moves of this size for at least the rest of the year.

David Madden, who is Equiti Capital Market Analyst, joined us from London.

#FederalReserve #JeromePowell #InterestRates

The European Central Bank is considering emergency measures to rein in spiraling borrowing costs in the economic bloc. Its Governing Council is holding an unscheduled meeting today as a measure known as Europe's fear gauge hit its highest level since early 2020. The difference between Italian and German bond yields, a measure also widely watched among investors, has widened the most since early 2020, with the yield on the 10-year Italian government bond crossing the 4% mark.

Craig Erlam, who is OANDA senior market analyst joined us from London.

#ECB #BondYields #InterestRates

Shares in Asia-Pacific are tumbling after the S&P 500 fell overnight and closed in bear market territory, which means that stocks on average fell at least 20% off their high. And yesterday, the index fell as much as 4%, bringing its losses since January to more than 21%. According to the Wall Street Journal, Fed policymakers are now contemplating a 75-basis-point rate increase later this week, bigger than the 50-basis-point hike that was expected.

Stephen Innes, who is SPI Asset Management Managing Partner in Bangkok joined us live.

#MarketUpdate #StockMarket #InterestRates

Shares in Asia are tumbling this morning as investors fear mainland China's COVID situation may be worsening. Beijing city has suspended offline sports events, delayed return to school and tightened other controls, only days after loosening them. Investors are keeping a very close eye on the Fed, which is expected to announce its interest rate decision later this week. This comes after a hotter than expected US inflation number on Friday, making investors worried across the globe.

#StockMarkets #MarketUpdate #Inflation

For most workers, a three-day weekend is a rare treat a break in the monotony of their nine to fives. But dozens of companies and organisations in the UK want to make it routine. They're betting that they can tilt the work-life balance towards family and friends, without sacrificing their ability to get their jobs done. Paolo Montecillo has more.

Andrew Barnes, who is the founder of the 4-Day Week Global campaign joined us from London.

#UnitedKingdom #WorkDays #FourDayWork

Demand for online food and grocery delivery services skyrocketed during COVID-19 lockdowns. But the reopening of economies and rising inflation are discouraging people from placing orders. And that's wiped out billions of dollars in stock value for the likes of DoorDash, UberEats and Deliveroo.

#FoodDelivery #GroceryDelivery #DeliveryLayoffs