**** CKPT FOR WED 17 DEC 2008
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1700 to 1707 NEWS
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US-ECONOMY: The US Federal Reserve says it will pump money into the US financial system as a means of lowering interest rates banks charge each other, after cutting the interest rate it charges banks to close to zero. The US dollar fell against a range of currencies after the announcement including the NZ dollar. Economics correspondent Nigel Stirling. PKG
PRISONS-NEW: The new Corrections Minister is disputing a briefing paper from her own department that says four new prisons could be needed in the next eight years.But the Minister, Judith Collins, remains confident she can stem the growth in inmate numbers and cope with any increase. PREREC
PRESCHOOLS: The education union, the NZEI, says the sale of more than 120 early childhood centres around the country will cause a lot of stress for workers and parents. ABC NZ, one of the country's largest early childcare providers, is selling up in the wake of its parent company in Australian going into receivership last month. Our education correspondent, Gael Woods, has been following the story. LIVE
ECONOMY-WIZARD: The global financial crisis and the tough home loan market here are being blamed for closure of the non-bank mortgage company Wizard Home Loans . The company has 4000 loans worth about one billion dollars. Wizard's owner is GE Money and I'm joined on the line now by Geoff Lynch, Corporate Affairs Manager, at GE Money Australia & New Zealand LIVE
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BUSINESS NEWS
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NZ-FIJI: As the diplomatic standoff continues over whether Fiji will expel New Zealand's acting High Commissioner, the travel bans at the centre of the row are being criticised as doing nothing to help move the Pacific Island nation towards democracy. Dr Jonathon Fraenkle is from Australian National University's College of Asia and the Pacific. LIVE
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17.30 HEADLINES
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US-ECONOMY (2): US sharemarkets have rallied on news the United States central bank has cut its main interest rate to the lowest level on record - between zero and a quarter of one percent. The New York Dow Jones index ended trading up four percent and Asian stocks also rose on the news. The ABC's Washington correspondent Kim Landers reports :PKG
HOUSING: Taxpayers may have to fork out hundreds of millions of dollars more for accommodation supplements in coming years, as rents increase by as much as six percent. That's according to a briefing paper to the new Housing minister, Phil Heatley. This report from Naomi Mitchell. PKG
Joining us now is the Housing Minister Phil Heatley. LIVE
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WAATEA NEWS
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COURT-TAG: The lawyer for a man who killed a teenage tagger says he may appeal a bail decision that will keep his client in jail until he is sentenced. 50-year-old Bruce Emery was convicted of manslaughter after fatally stabbing 15-year-old Pihema Cameron who he caught spray-painting his garage door in January. Sam Morrah was in court this morning.PKG
DUNEDIN-FREE: Two Dunedin surgeons are making a dent in the public waiting list, by giving free operations to 36 children aged as young as one year. Ear, nose and throat specialists Martyn Fields and Dean Rusk will spend next Monday performing grommet, tonsil and adenoid surgeries at Mercy Hospital. Dr Fields says the recent norovirus outbreak delayed operations at Dunedin Hospital and added about 40 children to the waiting list for grommets. He says many of those patients would otherwise wait for up to 6 months for relief. PREREC
RUGBY-TASMAN: The Tasman Rugby Union has won last minute financial support that will enable its team, the Tasman Makos to stay in the top Air New Zealand Cup division next season. The amalgamated Nelson Bays-Marlborough union has met today's deadline to satisfy the New Zealand Rugby Union it had the finances to survive. Our Nelson reporter Geoff Moffett joins me now. LIVE
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