RPT-PRESS DIGEST-New Zealand newspapers - Aug 27

Sun Aug 26, 2012 3:50pm EDT

(Repeats to correct typo in intro)

WELLINGTON Aug 27 (Reuters) - Following are some of the lead stories from New Zealand metropolitan newspapers on Monday.

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)

Saving Capital Connection may cost $200,000 a year: Ratepayers would have to cough up about $200,000 a year and some passengers would need to stomach a 10 per cent fare increase if a plan to save the Capital Connection rail service gets the green light.

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120,000 parking tickets may be disputed: The legality of more than 100,000 parking tickets dished out in Wellington is in question after the fines quoted an out-of-date law.

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Factory continues to give free smokes to staff: A tobacco factory in Petone is continuing to hand out free cigarettes to its workers, even as health authorities investigate the practice.

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Power prices could rise steeply: Big power users say the country could pay hundreds of millions a year more for electricity, if grid company Transpower and other lines companies win legal cases to lift returns on their assets.

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

Timing crucial for share floats of SOEs: Finance Minister Bill English says disruption to the timing of the partial share floats of state-owned assets will push the Government over its self-imposed debt limit of 30 per cent of GDP.

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Maori split on action over water rights: The head of the freshwater iwi leaders' group, Tuwharetoa paramount chief Sir Tumu te Heuheu, said the group would like to advance iwi rights in freshwater through continued discussion with the Government, not through the courts.

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Slim majority backs gay marriage bill: A bill to legalise same-sex marriage will pass its first hurdle when it comes before Parliament this week, a Herald poll of MPs shows.

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Sharp fall in profits at Air NZ expected: Air New Zealand's reported profit is set to slump with the airline's international operations hit by soaring fuel prices and weak demand growth afflicting carriers around the world.

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Tighter rules for Kiwisaver investor trustees: Trustee companies will need to delve much deeper into the running and management of KiwiSaver schemes to meet their obligations under new licensing rules, says a major market player.

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Chorus tipped for $100m profit: The reporting season enters its final leg this week, starting first with results from the former Telecom unit, Chorus, and state-owned energy company, Genesis, today.

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(Wellington newsroom tel +64 4 802 7980, fax +64 4 473 6212 wellington.newsroom@thomsonreuters.com)

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