HOT TOPICS:   Budget 2013   |   House prices  |    Term deposits

The comment stream

Recent comments

Reader poll

How many new houses will the Government-Auckland Council accord produce in Auckland over the next three years?

Choices
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.
1 + 0 =
Solve this simple math problem and enter the result. E.g. for 1+3, enter 4.

Join the Interest community to be a registered commenter so you can:
- Edit your comments
- Avoid the CAPTCHA
- Vote on comments
Register Here

Already registered? log back in here ..

Forgotten your password? No problem! Click here

Finance sector jobs

Fund Analyst - PPP
New Zealand's leading Fund Management business is seeking a highly competent Analyst to wo...more
New Zealand
General Manager Finance, Funding & Commercial Services, Northland District Health Board - Whangarei
Significant Management Opportunity - Attractive Lifestyle Options - Values Driven Organisa...more
New Zealand
AML Manager
Leading global investment bank is seeking the services of an experienced Compliance profes...more
Australia
Business Development Manager, South East Asia
Business Development Manager, South East Asia...more
Singapore

90 seconds at 9 am: IMF lowers world growth forecast on euro-zone weakness; UK to vote on EU membership; Congress ups debt limit; China worried about overheating; NZ$1 = US$0.841, TWI - 75.5

Posted in News
See video

Here's my summary of the key news overnight in 90 seconds at 9 am, including news that the IMF has warned of a slight weakening in the global recovery, with almost all that weakness due to Europe.

Forecasts in their latest World Economic Outlook are broadly unchanged, except for the euro area, which have been revised down, as has their forecasts for the UK.

It was announced overnight that Britian is going to vote on continuing its membership of the EU, something other EU members aren't happy about.

The US House of Representative has voted to extend their debt limit on a temporary basis, until Mid May following a Republican back-down.

Top American manufacturers are upbeat about their expectations for 2013 as fears fade after of the year-end "fiscal cliff" concerns. But we are about to get Apple's Q4 earnings soon, and that will set the tone for markets - earnings might fall but their view on their outlook is key.

In Japan, they are pushing back on the arguments that they have triggered a currency war. They point out that policy actions they are taking are only aimed at ending 'persistent deflation' and are only rolling back the unsustainable Yen levels that were encountered in 2012.

In China, officials are expressing concern about their economy overheating. They say pressures are coming from urbanisation and infrastructure construction.

In mid-day trade, the Dow is up and commodities are down, although the shifts are not extreme.

The New Zealand dollar starts today having crept marginally higher again overnight at 84.1 USc, 79.8 AUc, and the TWI is at 75.5.

We welcome your help to improve our coverage of this issue. Any examples or experiences to relate? Any links to other news, data or research to shed more light on this? Any insight or views on what might happen next or what should happen next? Any errors to correct?

We welcome your comments below. If you are not already registered, please register to comment in the box on the right or click on the "'Register" link at the bottom of the comments. Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making these comments.