Bernard Hickey details the key news overnight in 90 seconds at 9am, including news US Federal Reserve Chairman Ben Bernanke has been reappointed by the US Senate's banking committee by a margin of 16-7. His reappointment hearings have become a scene of hot debate about the role of the US Federal Reserve in bailing out big banks and the entire US economy. The Time Man of the Year's reappointment became a lightening rod for debate over taxpayer funded bailouts.
Meanwhile Allied Farmers shares fell as much as 32% to as low as 13c yesterday in the first day's trading after the Hanover Finance vote. Less than 1 million shares traded, but more than 200 million may hit the market in coming weeks.
In Australia, NAB has bought AXA Asia Pacific in a deal that leaves AMP out on its own.
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