Bernard Hickey details the key news over the weekend in 90 seconds at 9 am in association with Bank of New Zealand, including news that Warren Buffett revealed at his annual general meeting extravaganza in Omaha, Nebraska that his Berkshire Hathaway reinsurer posted its first ever insurance underwriting loss last year.
This followed earthquake and Tsunami losses of US$1.08 billion in Japan and losses from the Christchurch earthquakes of US$412 million (NZ$515 million).
Meanwhile, Chinese factory activity as measured by its Purchasing Managers Index (PMI) fell in April from March, suggesting the Chinese authorities' attempts to slow the economy may be working.
However, this could be problematic for the New Zealand and Australian economies, which now depend on continued growth in China.
Elsewhere, Australian Treasurer Wayne Swan said next week's budget would include a forecast for 500,000 new jobs and an unemployment rate of 4.5% within two years.
This is a worry for New Zealand, which is losing around 140 citizens a day to live permanently in Australia.
Meanwhile, the gold price hit a record over the weekend in US dollar terms at 1,570/oz on renewed inflation and US dollar devaluation fears.
However, the price in New Zealand dollar terms is still below its February 2009 peak of NZ$1,941/oz when the NZ dollar hit 49 USc. Back then the gold price was US$942/oz. See our interactive precious metals chart here.