PRESS DIGEST-New Zealand newspapers - Nov 28

WELLINGTON Tue Nov 27, 2012 1:58pm EST

WELLINGTON Nov 28 (Reuters) - Following are some of the lead stories from New Zealand metropolitan newspapers on Wednesday.

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)

Wellington set for Hobbit premiere: The stars are here, the fans are here, and the gaze of the world's entertainment media is fixed like the eye of Sauron on Wellington's Courtenay Place for the world premiere of The Hobbit: An Unexpected Journey.

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Slowing Aussie economy seen as our biggest threat: The economy is going through its slowest recovery from a downturn in 80 years, and the biggest risk is a slowdown in Australia, according to economic forecasting group NZIER.

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NZ$50,000 each for film jobs - Greens: As Hobbit fever builds, the Government is touting job creation as the biggest win from incentives that add up to hundreds of millions of dollars of taxpayer subsidies for movie producers.

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Rules aim at low-ball offers: New rules aimed at thwarting low-ball share offers come into force next week, just as another significant NZX company is being targeted.

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

'Hobbit-mania' begins today: Final preparations are under way in Wellington for tonight's world premiere of The Hobbit: An Unexpected Journey as Middle-earth mania grips the capital.

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Concerns, but fracking escapes ban: Fracking has escaped the threat of a ban in New Zealand for now, but the days of industry self-regulation could be numbered after a report found large holes in oversight of unconventional mining by energy companies.

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Legal bid based on 'misconception': The Maori Council's legal bid to block the Government's asset sales programme is based on a "misconception" about the Cabinet's role in advancing the plan, Crown lawyers argued in court yesterday.

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NZ$718m deficit above expectations: New Zealand's trade accounts sank deeper into the red last month. A deficit of NZ$718 million was recorded as the country pulled in NZ$1.21 of imports for every NZ$1 of exports.

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Concern raised as Carl's Jr store opens: Restaurant Brands will officially add a fourth business to its stable when the company opens its first Carl's Jr store in Mangere tomorrow.

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THL opens surplus RV supermarkets: In a sign of the times motorhome rental operator Tourism Holdings is setting up RV supermarkets in Auckland and Christchurch.

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