**** CKPT FOR WED 29 AUG 2007
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1700 to 1707 NEWS
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Mum and dad investor nervousness about finance companies is being blamed for the trouble that's hit Property Finance Goup which today announced it's putting its business, PSL, into receivership. It's the third finance company to fold this year following Bridgecorp and Nathans Finance, and the sixth in the last 15 months. About 4000 debenture stock holders, essentially investors who have lent PSL money, are owed 80 million dollars.The company has a loan book worth around 630 million dollars, and today said those loans are based on good property assets which means there's no reason why debenture holders won't get their money back. Receiver Brendon Gibson from Ferrier Hodgson says he can't agree with that yet. PREREC
The Kiwi dollar suffered a sharp tumble today following fresh jitters on world markets about access to credit and the health of the US economy. At one stage today the dollar dropped over a cent and a half to be under 69 US cents although a short time ago it had rebounded to be about 69.4 US cents. After a week or so of relative calm on world markets, sharemarkets in New York and London fell over night, with investors spooked by reports of slowing US consumer spending, and further unease about subprime credit. Our Economics Correspondent Corin Dann joins us now. LIVE
A long awaited report into accusations of corruption in the Immigration Department has cleared the service of illegal activities, but does say it was giving special treatment to some immigration agents. The report examines allegations by former Immigration Minister Turariki John Delamere, that in 2002 staff assessing applications for business immigrants, were taking bribes in order to fast track them. Our reporter Rachel Graham has been looking at the report which the Department of Labour commissioned from the law firm Buddle Findlay. LIVE
Check your bathroom cabinet for toothpaste that comes with anti-freeze. Today's Government alert is in case Chinese brands including Doctor Cool, Mister Fresh and Tri-Leaf Spearmint are still out there. The first warning went out in June, and now scientists say testing shows 16 brands contain a toxic chemical called diethylene glycol. It can cause liver or kidney disease, particularly in young children. Derek Fitzgerald is from medicines regulator Medsafe. PREREC
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BUSINESS NEWS
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New Zealand First has fulfilled an election promise - the launch of a discount card for over sixty-fives and pensioners. More than 180 businesses have signed up to offer reductions - but whether they'll make a real difference has yet to be tested No power companies and no whole supermarket chains are on board and many of the business are not nationwide. Supergold Card architect Winston Peters says he hopes to have a power company on side by next winter. Rowan Quinn was at the launch in Auckland. PKG
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17.30 HEADLINES
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A death threat against Fiji's deposed prime minister, Laisenia Qarase, and an apparent ban on him flying have put a stop to his plans to return to Suva. The military is denying that it had anything to do with either the threat or the ban. Radio New Zealand International's Linda Skates reports : PKG
The former Labour Party leader Mike Moore says he was having a bit of fun comparing the Prime Minister to Sir Robert Muldoon and his practice of ruthlessly destroying opponents through personal attacks. In a column for the New Zealand Herald, says Mr Moore says expecting to see cartoons of Miss Clark morphing into an angry Robert Muldoon. I asked him if he's serious. PREREC
It could be a matter of hours before the surviving South Korean hostages are freed by Taliban militants in Afghanistan. A Taliban representative says they will let the 19 go today. The aid workers have been held for nearly six weeks. Two were killed by their captors. South Korea struck a deal with the militants in exchange for their freedom. Seoul's agreed to stick to a scheduled troop pullout, and put and end to all missionary work in Afghanistan. Reuters Correspondent John Herskowitz is in South Korea. PREREC
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17.45 TRAILS
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WAATEA
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Health fears and cement trucks thundering past a school are among the points the public is using to oppose a 200 million dollar cement plant near Oamaru. Holcim has owned the land for 30 years and the plan has the backing of the local council, but residents who will have to live near the plant don't want a bar of it. Steve Wilde was at the hearings in Oamaru. PKG
Many Kapiti Coast residents are furious at plans to install water meters throughout the district. The Kapiti Coast District Council's 8.5-million-dollar proposal to install the meters would add an extra 48-dollars to annual rates. The area often suffers water shortages - particularly in summer when strict rules are brought in to limit water usage in gardens and swimming pools. Lucy Cleary spoke to Kapiti Coast residents and compiled this report. PKG
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