PRESS DIGEST-New Zealand newspapers - July 7

WELLINGTON, July 7 (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)

Uncertainties facing airlines - Fyfe: If jet-fuel prices do not ease there will be a "rapid and significant" reshaping of the industry by the end of next year, Air New Zealand (AIR.NZ) chief executive Rob Fyfe says.

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Economic forecasts stay gloomy: The economy is in recession after five boom years, and the next five years are not looking positive, says independent economics group Infometrics.

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Cheal exploration wells come up dry: Wellington-based Austral Pacific (APX.NZ) has come up dry on two wells aimed at expanding its Cheal oil field in Taranaki, but it has not given up drilling.

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

Anger over National's 90-day trial for workers: National will allow small businesses to get rid of new workers during a 90-day trial period - a move Labour calls a "charter for abuse" of workers' rights.

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Auckland a city in need of ambition: Auckland is failing to fulfil its potential and needs to be bidding for ambitious projects such as the 2016 Commonwealth Games, says Ludo Campbell-Reid, the city council's urban design champion.

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Bay investors take big share: Bay of Plenty residents have the most money invested in the New Zealand sharemarket while Southlanders are more likely to take smaller punts and females in the Taupo/Rotorua region have almost twice as much money invested in shares as males.

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