Bernard Hickey details the key news overnight in 90 seconds at 9am in association with ASB, including news that the Swiss government has sold its stake in UBS for a profit, making it the first of the European governments to sell stakes in bad banks after big bailouts.
Meanwhile, AIG has indicated it may be able to repay the govt and start looking after shareholders. The Dow rose in response. Also there's talk of fresh green shoots in the US economy. Treasury Secretary Timothy Geithner talked overnight about 'signs of stability' in the economy.
But the British economy and government are struggling. Last month's budget deficit blew out to more than 8 billion pounds when the forecast was for a deficit of only 0.5 bln. pounds.
And in the United States, the US Federal Deposit Insurance Corp is set to impose a new fee on banks to build up funds depleted by dozens of bank failures.
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