90 seconds at 9am: Bernanke reappointed; Allied share slump; BNZ buys AXA
18th Dec 09, 8:47am
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.