WELLINGTON, Oct 23 (Reuters) - Following are some of the lead stories from New Zealand metropolitan newspapers on Thursday.
Stories may be taken from either the paper or Internet editions of the papers.
Reuters has not verified these stories and does not vouch for their accuracy.
DOMINION POST(www.stuff.co.nz)
Big rate cut tipped: Reserve Bank governor Alan Bollard is expected today to slash interest rates by 1 per cent to 6.5 per cent in the central bank's biggest move since adopting the official cash rate (OCR) in March 1999.
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Kiwis owe more than their home is worth: Falling house prices have plunged up to 130,000 homeowners into negative equity as the value of their property drops below the amount they owe the bank. - - - -
Sparks to fly at Contact AGM: Fiery scenes are expected at Contact Energy's annual meeting in Auckland today as small shareholders respond to the company's plan to almost double directors' fees. - - - -
Axa takes big hit as investors shun funds: AXA New Zealand has suffered a NZ$2.8 billion fall in funds under management as investors shun investment funds at a time of massive volatility and losses on global sharemarkets.
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NEW ZEALAND HERALD (www.nzherald.co.nz)
Record numbers leaving for Australia: New Zealanders are leaving for Australia in record numbers, while the flow of immigrants and tourists coming here has slumped.
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Smith and Williamson pay the price: John Key has told Lockwood Smith he must forfeit the immigration portfolio in any National-led government as a result of his ill-judged comments about seasonal workers, the Herald understands. - - - -
NZ income gap wider than most in OECD: The gap between rich and poor has narrowed slightly in New Zealand under Helen Clark's Government, but is still wider than in 21 of the world's 30 developed nations. - - - -
Cullen talks of Aussie bank float: The Government is reportedly seeking to boost local ownership of the Australian-controlled major banks here in return for a wholesale funding guarantee the banks say is needed to ensure they can raise sufficient cash to keep the economy ticking over.
- - - - . ng COPYRIGHT Copyright Thomson Financial News Limited 2008. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
Stories may be taken from either the paper or Internet editions of the papers.
Reuters has not verified these stories and does not vouch for their accuracy.
DOMINION POST(www.stuff.co.nz)
Big rate cut tipped: Reserve Bank governor Alan Bollard is expected today to slash interest rates by 1 per cent to 6.5 per cent in the central bank's biggest move since adopting the official cash rate (OCR) in March 1999.
- - - -
Kiwis owe more than their home is worth: Falling house prices have plunged up to 130,000 homeowners into negative equity as the value of their property drops below the amount they owe the bank. - - - -
Sparks to fly at Contact AGM: Fiery scenes are expected at Contact Energy's annual meeting in Auckland today as small shareholders respond to the company's plan to almost double directors' fees. - - - -
Axa takes big hit as investors shun funds: AXA New Zealand has suffered a NZ$2.8 billion fall in funds under management as investors shun investment funds at a time of massive volatility and losses on global sharemarkets.
- - - -
NEW ZEALAND HERALD (www.nzherald.co.nz)
Record numbers leaving for Australia: New Zealanders are leaving for Australia in record numbers, while the flow of immigrants and tourists coming here has slumped.
- - - -
Smith and Williamson pay the price: John Key has told Lockwood Smith he must forfeit the immigration portfolio in any National-led government as a result of his ill-judged comments about seasonal workers, the Herald understands. - - - -
NZ income gap wider than most in OECD: The gap between rich and poor has narrowed slightly in New Zealand under Helen Clark's Government, but is still wider than in 21 of the world's 30 developed nations. - - - -
Cullen talks of Aussie bank float: The Government is reportedly seeking to boost local ownership of the Australian-controlled major banks here in return for a wholesale funding guarantee the banks say is needed to ensure they can raise sufficient cash to keep the economy ticking over.
- - - - . ng COPYRIGHT Copyright Thomson Financial News Limited 2008. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.