Here's my summary of the key news over the weekend in 90 seconds at 9 am, including news that Italy has a new government.
In something of a surprise development, Democratic Party Deputy Leader, Enrico Letta, becomes prime minister at the head of a "grand coalition" featuring much younger leaders and including Silvio Berlusconi's party but not him. The swearing-in signals the end of two months of political deadlock. The Five Star Movement is the largest opposition party. Not everyone is happy though.
Spain's government lowered its forecast for the Spanish economy this year, warning the level of contraction is likely to be worse than previously estimated. They now expect a 1.3% contraction.
Meanwhile Japan has raised its forecast for growth in 2013.
The American economy grew at an annualised pace of 2.5% in the first quarter of the year, weaker than expected despite strong consumer spending figures.
Profits of China's large industrial companies showed much slower growth in March than in the first two months of 2013, suggesting key industries are struggling with weak demand and overcapacity.
On Saturday, Australia announced a package of financial aid to help the country's debt-laden farmers cope with rising costs and the strong local currency. The package offers more debt.
In fact, that is what their government is calling for, for the nation.
It looks like Aussie government debt will balloon next year with Treasury officials advising that there will be a AU$12 billion shortage.
Whoever wins their election may have a big problem to deal with. And those stresses may affect New Zealand.
The Kiwi dollar starts today just slightly lower at 84.8 USc, 82.5 AUc, and our TWI is at 78.3.
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