Wall Street was mixed as concerns about the US debt ceiling, and the potential impact on the economy, moved to the fore. Treasury Secretary Timothy Geithner warned that failure to lift the US$16.4 trillion debt limit by early March would “impose severe economic hardship.” Fitch Ratings on Tuesday said it expects that Congress will raise the debt ceiling and that …

GERMANY SUCCUMBING TO WEAKNESS IN THE EUROZONE? Preliminary data from the German Federal Statistics Office showed the economy to have contracted by as much as 0.5% in the December quarter, potentially signalling that the German economy joined a majority of other Eurozone nations in entering technical recession in 2012. Annual growth slowed to 0.7% in 2012 (from 3% in 2011) as the …

T he New Zealand dollar rose on indications that the economy is finally gaining momentum without setting off inflation and after US Federal Reserve chairman Ben Bernanke indicated quantitative easing to stimulate the US economy would continue throughout 2013. The kiwi was at 83.94 US cents at 5.25pm, from 83.94 US cents at 8am and 84.02 US cents at 5pm …