Bernard Hickey details the key news overnight in 90 seconds at 9am in association with ASB, including news Retirement Commissioner Diana Crossan has warned retirees could be 'begging in the streets'unless New Zealand addresses its long term pension problems quickly Crossan says both governments in recent times have failed to debate the issue and take tough decisions.
Meanwhile, the Dow rose 2.2% or more than 200 points overnight to over 9,000 for the first time sinceJanuary AT and T and 3M produced better than expected results. Existing home sales and prices in the US rose more than expected,sparking some to say US housing is bottoming out. Meanwhile, Ford make a profit and VW will take over Porsche after Porsche's CEO stepped aside to end a family feud thanks to a 50 mln euro bonus. Macquarie Bank is halted ahead of an asset sale, rumoured to be airport rights.
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