Bernard Hickey details the key news over the weekend in 90 seconds at 9am in association with ASB, including news that the Dow fell 2.5% on Friday night on concerns US consumers are not returning to the shops and are instead trying to repay debt and save, Bloomberg reported. The US economy remains stagnant and its biggest small business lender, CIT, is filing for bankruptcy, the WSJ.com reported. Meanwhile, there appears to have not been a spring surge in housing listings in New Zealand. Listings on realestate.co.nz rose 7% in October , but this was less than in previous years and the inventory to sales ratio also rose to 34.4 weeks from 33.7 the previous month. Meanwhile Bill English said on TVNZ's Q&A programme on Sunday he now expected the jobless peak to be at 7%, not the 8% previously seen. He is focused on Budget 2010 and a drive to save money. English said the focus for the year ahead would be spending on infrastructure, removing red tape and tax reform. Watch Video On You Tube Here
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