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90 at 9: Greenhouse gas cuts proposed; Dow weak; Sugar hits 28 year high

90 at 9: Greenhouse gas cuts proposed; Dow weak; Sugar hits 28 year high
11th Aug 09, 9:00am by Bernard Hickey



Bernard Hickey details the key news overnight in 90 seconds at 9am in association with ASB, including news the government is proposing reducing New Zealand's greenhouse gas emissions by 10-20% from 1990 levels by 2020, which would increase petrol and power costs by around NZ$30 per household. Here are the details. NZ will take its proposal to Copenhagen.

Meanwhile Wall St was down in late trade. The strong rally seen in the Dow in recent weeks may be running out of steam. Many investors are waiting for the results of a Federal Reserve meeting due later this week There's new forecasts that the US recession may already be over, but there are nerves around.
Finally, the world price of sugar rose to a 28 year high because of supply problems in India and Brazil.


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