PRESS DIGEST-New Zealand newspapers - Nov 20
WELLINGTON, Nov 20 (Reuters) - Following are some of the lead stories from New Zealand metropolitan newspapers on Thursday.
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)
John Key's first crisis: Prime Minister John Key emerged from his first Cabinet meeting to the brutal reality of life at the top as state-controlled Air New Zealand announced that the deepening recession would cost hundreds of jobs.
- - - -
Fonterra chief's pay up despite SanLu: Dairy giant Fonterra chief executive Andrew Ferrier is making just under $4 million a year, almost $1 million more than he made two years ago.
- - - -
Business call on carbon tax: The Government should bring in a low-level carbon tax of $5 to $10 a tonne instead of an emissions trading scheme, according to the Business Roundtable and oil explorers.
- - - -
Package set to thaw frozen Hanover funds: Details of a rescue package to thaw $554 million of funds frozen by failed property financier Hanover Finance will be revealed to investors this morning, ending a four-month wait.
- - - -
NEW ZEALAND HERALD (www.nzherald.co.nz)
MPs start new jobs with an instant pay rise: Newly sworn-in Cabinet ministers and other MPs will get an instant pay rise - one likely to take the annual salary of Prime Minister John Key to nearly $400,000.
- - - -
$700m spa town plan cools: A planned $700 million redevelopment of north Auckland spa town Waiwera is on hold and some of the land is to be sold, as tough economic times hit the developer.
- - - -
Carbon trader shelves NZ project: EcoSecurities Group, one of the largest players in the international carbon market, has shelved plans to set up shop in New Zealand, following the National/Act agreement to review not just the details of the emissions trading scheme but whether to proceed with one at all.
- - - -
Exports resilient: The export sector is demonstrating resilience at a time when economists expect it to be hit by slowing growth in export markets. A survey by logistics company DHL found orders remained the same for the last three months for 57 per cent of exporters. A quarter of exporters expect orders to increase in the next three months.
- - - -
Air NZ can't guarantee loss of 200 jobs is the final number: Air New Zealand (AIR.NZ) says it can't rule out further job losses on top of up to 200 redundancies announced as demand for long-haul travel slumps.
- - - -
