90 at 9: Dow up; US GDP down 1%; Jetstar's trillion dollar tickets
28th Aug 09, 9:14am
Alex Tarrant presents 90 at 9 in association with ASB. The Dow was up overnight after early losses, with AIG shares up 27% and Citigroup shares up 9%. There was also some good news from Boeing, which said its new 787 Dreamliner would fly by the end of the year. The latest estimate from the US Department of Commerce was that US GDP fell 1% in the second quarter. This was the same as the Department's earlier estimate, but better than the expected 1.5% fall. The New Zealand dollar rose with the equities overnight, hitting USD 0.6894, but still failing to hit the 69 USc mark. The NZ$ also continued its strong performance against the British pound. Southern Cross Building Society has received a BB rating from Standard and Poor's, which would make it eligible to sign up for the extended deposit guarantee scheme in October next year. More on the rating is here. Finally, a computer glitch meant that some Jetstar customers were charged up to NZ$1.3 trillion for international flights, the Herald reported. However, Jetstar said no one paid the large sums charged. Readers may be relieved to learn that Jetstar made an apology for the glitch on-time.