PRESS DIGEST-New Zealand newspapers - Aug 23

WELLINGTON Thu Aug 22, 2013 3:41pm EDT

WELLINGTON Aug 23 (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)

Shearer: Why he quit: Grant Robertson is emerging as the frontrunner to lead Labour after David Shearer stepped aside rather than face a no-confidence vote.

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'EQC holding up payouts': IAG New Zealand says the big obstacles to finalising claims in Christchurch now are the Earthquake Commission's decisions on land damage and customers dragging the chain on rebuild decisions.

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Price-fixing to cost Visy NZ$3.6m: Australian packaging company Visy has been ordered in the High Court at Auckland to pay a penalty of NZ$3.6 million in a price-fixing case brought by the Commerce Commission.

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Power customers missing out: A failure by power retailers to pass on Vector's lower costs "makes a bit of a mockery of the regulatory regime", chief executive Simon Mackenzie says.

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

Revealed: The woman who triggered Shearer's downfall: A group of Labour MPs were planning a motion of no confidence against party leader David Shearer at the caucus meeting on Tuesday - a step pre-empted by his resignation from the leadership yesterday.

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Whisky giant leans on Kiwi brand: A small New Zealand whisky distillery is being threatened with legal action by a global drinks giant for alleged trademark infringement.

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Exemptions lift home chances: The widespread assumption that most first home buyers will be shut out of the housing market by the Reserve Bank's curbs on low-deposit home loans may be too swift.

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Skellerup claws back: Skellerup, the industrial rubber goods manufacturer, beat its guidance with a 23 per cent decline in annual profit after a pickup in the last two months of the financial year.

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Woolworths buys Ezibuy for NZ$350m: Australian company Woolworths - which is the parent of grocery company Progressive Enterprises - has announced it will be buying EziBuy for NZ$350 million.

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