Click here to watch this morning's video. Bernard Hickey details the key news overnight in 90 seconds at 9am in association with ASB, including news South Canterbury Finance has announced the delayed repayment of US$100 million owed to US lenders. This buys South Canterbury's Allan Hubbard more time to restructure the capital structure of his own Southbury Holdings and South Canterbury Finance. But there's no details yet on a new investor for South Canterbury or the timing for a new prospectus. Meanwhile, the vampire squid of investment banking, Goldman Sachs has reported a tripling of profit and plans to pay staff bonuses compensation and bonuses totalling US$16.7 billion, Bloomberg reported. That's an average of US$527,000 per employee. Also, Citigroup reported a small loss, but analysts said it should have been bigger because it put little aside for fresh losses Analysts are also worried loan quality has not improved, Bloomberg reported.
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