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Bill English, Finance Minister of New Zealand, talks about Wellington's plans to raise cash to bring its economy back into surplus. He also discusses why he is unconvinced on Abenomics and denies recent claims that New Zealand is getting involved in global currency wars.
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WELLINGTON, May 9- The United States' chief prosecutor has denied that its investigation into the Megaupload file-sharing site on charges of online piracy is an example of Washington bowing to Hollywood pressure.
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*Copper ends up 2 pct after bullish China trade data. NEW YORK, May 8- Copper prices rose but most commodities were lukewarm on Wednesday despite strong trade data from major consumer China, underscoring comments by hedge fund legend Stanley Druckenmiller that the decade-long super rally in raw materials was over.
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NEW YORK, May 8- The euro leapt to a one-week high against the dollar and a more than two-week peak against the yen on Wednesday as upbeat German data eased worries about the region's largest economy and curbed expectations of a near-term interest rate cut in the euro zone.
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Wednesday's data followed another upbeat German industrial orders report, helping euro sentiment overall, while falling borrowing costs in peripheral euro zone countries have also bolstered Europe's common currency of late.
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LONDON, May 8- Tom Mockridge, who worked closely with Rupert Murdoch in more than 20 years at News Corp, is to take over at Virgin Media, pitting the two men against each other in a battle for British pay-TV viewers.
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LONDON, May 8- The euro rose against the dollar on Wednesday after an unexpected rise in German industrial output was seen making a near-term euro zone interest rate cut less likely.
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*New Zealand dollar slides as RBNZ says it has intervened. But the New Zealand dollar fell after the country's central bank said it had intervened to try to restrain the strength of the currency.
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WELLINGTON, May 8- New Zealand's central bank confirmed selling its own currency for only the second time since the "kiwi" was floated in 1985, reflecting concerns that a flood of global money could undermine a budding economic recovery.
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Wednesday's data followed another upbeat German industrial orders report on Tuesday, helping euro sentiment overall, while falling borrowing costs in peripheral euro zone countries have also recently lent support to Europe's common currency.
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*Aussie supported by upbeat China trade data. The Aussie dollar is sensitive to economic data out of China, Australia's biggest export destination. Still, that was up from a two-month low of $1.0155 set this week after the Reserve Bank of Australia reduced the cash rate by a quarter point to a record low 2.75 percent on Tuesday, and left the door open to more easing.
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SINGAPORE, May 8- London copper futures edged higher on Wednesday, while the Shanghai market was little changed in cautious trade ahead of China's April trade data, which will give evidence about growth in the world's second largest economy.
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SINGAPORE, May 8- London copper futures edged higher on Wednesday, while the Shanghai market was little changed in cautious trade ahead of China's April trade data, which will give evidence about growth in the world's second largest economy.
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SINGAPORE, May 8- Gold fell further on Wednesday as investors turned to equities for better returns, while holdings on bullion exchange-traded funds plunged to their weakest since early 2009, reflecting investors' diminishing interest in the precious metal. *Spot gold fell $1.38 an ounce to $1,450.61 by 0115 GMT. *U.S. gold was at $1,450.00, up $1.20.
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WELLINGTON, May 8- The New Zealand dollar may appreciate more if investors expect that the country's economy is outperforming, raising speculation that interest rates in the country will rise, the central bank said on Wednesday.
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SYDNEY, May 8- Australian shares rose 0.7 percent to their highest level in a week in early Wednesday trade, buoyed after Wall Street notched up record highs, helped by better-than-expected German industrial data.
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SYDNEY, May 8- Major currencies got off to a sleepy start in Asia on Wednesday following an uninspired session overnight, but the New Zealand dollar stood out after the central bank complained it was overvalued, prompting markets to briefly sell the kiwi.
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SYDNEY, May 8- Australian shares are set to open firmer on Wednesday after a cut in local interest rates and a rise on Wall Street on upbeat German economic data, while investors will watch for trade data from China.
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SYDNEY/ WELLINGTON, May 8- The Australian dollar struggled near a two-month low against the U.S. dollar on Wednesday as investors speculated that more interest rate cuts were in the cards after the Reserve Bank of Australia cut its official rate to a record low on Tuesday.
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WELLINGTON, May 8- A surging New Zealand housing market is raising the risks to the country's financial system, prompting a move to tighten lending rules for major banks, while an overvalued currency is hindering the rebalancing of the economy, the central bank said on Wednesday.
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Gold 1444.25 Silver 23.750 Gold 1468.89 Light Crude 95.47----------------------------------------------------------------. Overnight market action with latest New York figures. Add Sydney stock market trend.