PRESS DIGEST-New Zealand newspapers - August 1

WELLINGTON Aug 1 (Reuters) - Following are some of the lead stories from New Zealand metropolitan newspapers on Friday.

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)

Peters sees poll conspiracy: Winston Peters has dismissed fresh questions about big donations to NZ First as moronic and part of a conspiracy to force an early election.

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Tui boom year boosts NZOG war chest: New Zealand Oil and Gas NZO.NZ is sitting on a near NZ$300 million investment war chest after a boom year from the Tui oilfield and record world prices, but it may end up spending the money overseas.

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New front in Red Shed war: The two-year battle for control of New Zealand's biggest retailer looks set to move to a new arena - the Supreme Court - after the Court of Appeal blocked Woolworths (WOW.AX) and Foodstuffs from making bids.

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Hanover tells of borrowings by its owners: Hanover Finance owners Eric Watson and Mark Hotchin borrowed NZ$9.7 million from the company and subsidiary United Finance to buy Queenstown sections in July before the company froze NZ$554m of investors' funds, Hanover managing director Bruce Gordon says.

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Russian firm to boost stake in NZDL: A Russian baby food firm will substantially lift its stake in New Zealand Dairies Ltd (NZDL) to above 75 per cent. Russian-controlled Singapore company Nutritek could also invest up to NZ$130 million to expand NZDL's milk-processing factory at Studholme, near Waimate. It has invested the bulk of capital in the dairy factory and owns 51.52 per cent.

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NEW ZEALAND HERALD (www.nzherald.co.nz)

Cullen full of praise for Tuhoe attitude: Tuhoe's desire for self government and the return of Urewera National Park could prove sticking points in Treaty of Waitangi negotiations with the Crown, a Tuhoe leader says.

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Timing looks about right for Tindall to get his bargain: The Warehouse WHS.NZ founder Stephen Tindall may relaunch his bid to buy back the Red Sheds after a court decision to prevent the supermarkets from initiating takeover bids.

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Not enough wind, not enough rain - TrustPower earnings slump: TrustPower TPW.NZ says earnings will be hit by a lack of wind for its turbines and a lack of rain for its dams during the first part of this year. - - - -