PRESS DIGEST-New Zealand newspapers - March 13
WELLINGTON, March 13 (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)
Wellington misses wishlist but will get seven games: Wellington missed out on England and won't get the grudge match against France. But it will play host to the world champions and will get a visit from the All Blacks.
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Local fuel tax to get the axe: A planned regional tax that threatened to add up to 10c to every litre of fuel will be scrapped. The Government has confirmed it will dump the levy, which required a law change a year ago, and was earmarked to pay for major road projects such as Transmission Gully and for improving public transport.
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Banks slow to follow rate cut: Banks have been slow to respond to calls from Reserve Bank governor Alan Bollard to drop interest rates, after he sliced official interest rates to 3 per cent and predicted house prices would fall a further 10 per cent this year. - - - -
KFC in demand as recession bites: Demand for KFC has boosted Restaurant Brands' (RBD.NZ) fourth quarter sales figures as Kiwis change their eating habits during tough times.
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NEW ZEALAND HERALD (www.nzherald.co.nz)
9.5c local petrol tax could be dumped: Auckland's planned regional fuel tax could be cut as the Government worries about levies pushing fuel prices up 14c a litre within three years.
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Risk warning for investors: The Retirement Commissioner fears investors will run to high interest-paying products without considering the risks after another cut to the official cash rate.
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Glass half-full for Reserve Bank: Reserve Bank Governor Alan Bollard indicated clearly yesterday that he is nearing the end of this easing cycle.
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Warehouse upbeat on profit dip: Red Sheds chief says cash flow rise 'quite an achievement' in difficult market. The Warehouse Group (WHS.NZ) chief executive Ian Morrice says the company's operating cash flows are "quite an achievement" in the current trading environment.
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KFC revamp and promotions help Restaurant Brands dish up rise in sales: The tough economy appears to be helping fast food conglomerate Restaurant Brands (RBD.NZ), which has reported a 1.5 per cent rise in sales in the three months to March 1.
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