Bernard Hickey details the key news overnight in 90 seconds at 9 am in association with ASB, including news the New Zealand dollar rose slightly overnight to 63.4 USc after Alan Bollard commented that the New Zealand economy was likely to emerge from recession quicker than the rest of the world. Also stronger Australian business confidence helped sentiment.
Meanwhile, Goldman Sachs reported a US$3.4 bln profit for the June quarter and will pay its staff US$6.6 billion in salaries and bonuses, which is 48% of sales, the FT.com reported. Goldman borrowed US$10 billion from the government and repaid it with US$426 million in dividends earlier this year. Dissent is growing with Goldman in the wake of Matt Taibi's now infamous 'blood sucking vampire squid' article in Rolling Stone,
Meanwhile Singapore's GDP rose anannualised 20.4% in the June quarter in another green shoot for the global economy, although Singapore's economy is highly dependent on trade and therefore very volatile, FT.com reported.
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