Bernard Hickey details the key news overnight in 90 seconds at 9 am, including the NZ dollar dipping after the confirmation New Zealand has Swine flu, Lane Walker Rudkin being put into receivership with the potential loss of 470 jobs and Fisher & Paykel Appliances being given a one month reprieve by its bankers.
Meanwhile in the United States consumer confidence rose at its fastest rate in 4 years, which boosted the Dow, while Citigroup potentially needs US$70 billion in fresh capital, according to one analyst. Also, the United Auto Workers looks set to own a controlling stake in Chrysler as part of the rescue deal swapping worker benefits for ownership, while the US government will own 89% of General Motors in an another rescue plan. Finally, news just in, California Governor Arnold Schwarzenegger has declared a state of emergency after 2 Californians appear to have died of Swine flu.
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