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ninetyatnine uploaded a new video
(2 weeks ago)
Bernard Hickey details the key news overnight in 90 seconds at 9am in association with ASB, including news that the 2025 Taskforce is due to recomm...
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Bernard Hickey details the key news overnight in 90 seconds at 9am in association with ASB, including news that the 2025 Taskforce is due to recommend today a flat tax and cuts in government spending, although Prime Minister John Key has already torpedoed the report, saying he does not want big bang reform.
Meanwhile figures out from the Reserve Bank show farm lending fell NZ$297 million in October to NZ$46.934 billion, the first monthly fall in farm lending since February 2001 when total lending was NZ$12.58 billion.
Meanwhile consumer lending rose for the first time since December last year.
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ninetyatnine uploaded a new video
(2 weeks ago)
Bernard Hickey delivers the key news overnight in 90 seconds at 9am in association with ASB, including news European stocks fell 3.2% overnight on ...
more
Bernard Hickey delivers the key news overnight in 90 seconds at 9am in association with ASB, including news European stocks fell 3.2% overnight on fears about Dubai's massive debt default, Bloomberg reported.
Dubai World has asked to delay payments to bankers on US$60 bln of debt. Royal Bank of of Scotland and Barclays are seen most exposed. European banking stocks were hit hard on fears Dubai's debt default could prove contagious. US markets are closed for Thanksgiving.
Meanwhile the New Zealand dollar fell to 71.5 USc as the Dubai debt fears reduced appetites for risky currencies Also, the New Zealand dollar fell further against the Australian dollar, which in turn dragged the TWI down to 64.
The gap between the NZ and Australian economies is seen widening as Australia's economy surges and New Zealand's stays in the doledrums.
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ninetyatnine uploaded a new video
(2 weeks ago)
Bernard Hickey details the key news overnight in 90 seconds at 9am in association with ASB, including news that Guinness Peat Group is the mystery ...
more
Bernard Hickey details the key news overnight in 90 seconds at 9am in association with ASB, including news that Guinness Peat Group is the mystery bidder for Hanover Finance, the BusinessDay has reported.
But Hanover Finance Chairman David Henry says no alternative offer is likely and won't confirm who the potential rival bidder is.
Meanwhile Allied Farmers has said the independent report from Grant Samuel will say the Allied bid for Hanover Finance is fair, better than the moratorium and a better bid is unlikely, the NZHerald reported.
Meanwhile in Wellington the Inland Revenue Department has won its first court case against a property investor renting a property off her own LAQC and claiming tax losses, the Dominion Post reported. A court ruled it was tax evasion.
Meanwhile, also in Wellington, National MP and deputy speaker Lindsay Tisch has been living in his own apartment and claiming NZ$21,000 in expenses from the government for living away from home, which works out at an 8% return on his NZ$260,000 investment, the NZHerald reported.
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ninetyatnine uploaded a new video
(3 weeks ago)
Bernard Hickey details the key news overnight in 90 seconds at 9am in association with ASB, including news a source has told the NZHerald that a 'w...
more
Bernard Hickey details the key news overnight in 90 seconds at 9am in association with ASB, including news a source has told the NZHerald that a 'well known and trusted company' is preparing a rival bid for Hanover Finance's loans that will be 'competitive' to the one on the table from Allied Farmers' shareholders.
Meanwhile, Standard and Poor's has warned overnight that most of the world's banks require capital injections to remain above Standard and Poor's tougher revised measure of Tier 1 capital, The Telegraph reported. Standard and Poor's has downgraded the status of hybrid capital. This means ANZ on 7.1%, CBA on 6.3% and NAB on 6.9% would need to raise capital to meet the tougher measures, the Sydney Morning Herald reported.
Meanwhile in the United States, quarterly GDP growth in annual terms was revised down to 2.8% from 3.5% and US unemployment is expected to remain above 10%. This data dragged on the US stock market and reduced appetites for risky currencies such as the New Zealand dollar, which nudged down to 72.3 USc overnight.
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ninetyatnine uploaded a new video
(3 weeks ago)
Bernard Hickey details the key news overnight in 90 seconds at 9am in association with ASB, including news that US home resales rose a surprising 1...
more
Bernard Hickey details the key news overnight in 90 seconds at 9am in association with ASB, including news that US home resales rose a surprising 10.1% last month, which helped boost Wall St overnight.
However, a Federal Reserve President James Bullard also said the Fed may have to keep buying bonds or printing money for longer, Bloomberg reported. This drove the US dollar down and pushed up the gold price to a record US$1,174/oz.
The New Zealand dollar nudged over 73 USc as the US dollar continued to weaken. Meanwhile net migration figures out yesterday showed net migration rose, mainly because fewer New Zealanders are leaving to live in Australia.
Meanwhile, Hell Pizza advertised their 'Greed' pizza outside Mark Hotchin's Paritai Dr mansion, Stuff reported. He prefers Pizza Hut apparently.
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