Bernard Hickey details the key news over the weekend in 90 seconds at 9am in association with BNZ, including news that Bill English has suggested the government may sell some state assets after the next election. Kiwibank is seen as the first cab off the rank., English said. The NZHerald reported English said a partial float was one possibility if voters agreed to asset sales.
Meanwhile, the Dominion Post's Tom Pullar Strecker, has reported Telecom is in talks to sell off its Chorus networking operation to the government for NZ$1.35 billion as part of a breakup of Telecom.
The Dow closed up 1.2% as markets recovered somewhat from a week of turmoil, Bloomberg reported. Financial regulation was passed through the US Congress that was not as bad for banks as some investors had feared. Encumbent politicians are being kicked out by angry voters who believe they supported bank bailouts.
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