PRESS DIGEST-New Zealand newspapers - Aug 18

WELLINGTON Aug 18 (Reuters) - Following are some of the lead stories from New Zealand metropolitan newspapers on Tuesday.

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)

Plans to fix leaky buildings: A solution to the $4 billion leaky homes crisis appears a step closer with signs the Government has proposed ways to shift cash from legal action to repairing damaged buildings. - - - -

Health jobs on the line in overhaul: Hundreds of health sector jobs could be affected in a major overhaul of the Health Ministry and health board bureaucracy. - - - -

Infratil income likely to be lower: Infratil IFT.NZ says this year's trading income is likely to be at the lower end of an earlier forecast range for a rise of between 5 per cent and 12 per cent.

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F&P boss quits for health reasons: A global search is under way to find a successor for Fisher & Paykel Appliances FPA.NZ chief executive John Bongard after his shock resignation on health grounds. - - - -

Pyne Gould tightens Kerr deal: Pyne Gould Corporation (PGC) PGC.NZ has tightened up its NZ$18 million deal to buy director George Kerr's asset management business, after questions were raised. - - - -

Carbon price cap dubbed perverse: A forestry lobby group is warning there will be no private investment in new forest planting if the Government caps the price of carbon under an emissions trading scheme. - - - -

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

Higher GST proposed to shift tax focus from incomes: Raising the rate of GST could increase the economy's efficiency if it was used to shift the mix of taxes away from income tax, a working group reviewing the tax system says.

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Super City designers identify NZ$250m in savings: The agency designing Auckland's Super City has found savings worth hundreds of millions in a week, says Local Government Minister Rodney Hide.

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Paykel chief tells of secret cancer fight: Fisher & Paykel Appliances FPA.NZ chief executive John Bongard is fighting prostate cancer and is to leave the business in December. Chairman Gary Paykel yesterday announced the shock departure to shareholders at the company's annual meeting, saying Bongard would be retiring because of health reasons.

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Sale of building boosts Freightways' net profit: Courier company Freightways FRE.NZ managed to lift net profit for the year to June - thanks to the sale of a building in Wellington.

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Carbon price cap and talk of export ban upset forestry: Forest owners have expressed dismay at suggestions the Government is thinking of including a price cap and export ban among amendments to the emissions trading scheme.

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