90 at 9: US banks raise US$7.7 bln; Chinese buy Hummer; Allan Hawkins raising NZ$10 mln

Bernard Hickey details the key news overnight in 90 seconds at 9am in association with ASB, including news that US banks JP Morgan, American Express and Morgan Stanley have raised US$7.7 billion through share issues to help repay loans from the US government. Also, US car sales were better than expected, but still bad. China's Sichuan Tenzhong is buying Hummer from GM, Geely may buy Volvo and Chinese car companies are thought to want to buy Holden from GM. Back here, convicted fraudster Allan Hawkins wants to raise NZ$10 million from the public through an issue of capital securities offering 9.25%.