News and Current Affairs.
Main Stories:
It’s been a black day on the worlds share markets. On Wall Street the Dow Jones dropped 508 points, while in New Zealand the share market has suffered its worst ever loss. The Barclays Index dropped 504 points, wiping out 14 percent of its value, and pandemonium swept through the New Zealand market. The global share market crash is examined, as is the effect on New Zealand investors. Speakers: John Phelan (Chmn New York Stock Exchange), Eric Miller (Donaldson Lufkin & Jenrette), Hamish McKay (Paine Belcher Ltd), John Rattray (O’Connor Grieve & Co. Sharebrokers), Ron Brierley (Chairman Brierley Investments), Peter O’Neill (Mng. Director Leadenhall Investments), Frank Pearson (Investment Consultant Fay Richwhite).
Ravi Batra, an economist who has long been suggesting the collapse of share markets, is interviewed. Speaker: Ravi Batra (Economist).
Iran’s ambassador to the United Nations says there will be retaliation against the United States destruction of two Iranian oil platforms in the Persian Gulf last night. President Reagan meanwhile says that America is not going to war with Iran because “they are not that stupid”. Speakers: Caspar Weinberger (Secretary of Defense), Admiral Thomas Crowe (Chairman Joint Chiefs of Staff), Said Rajai Khorassani (Iranian Ambassador to UN), Ronald Reagan (United States President), Margaret Thatcher (British Prime Minister).
Other Stories:
The ACC says it will appeal against a High Court decision which found levies invalid.
The Government has sold its shares in New Zealand Steel to Equitcorp.
David Lange held an olive branch to the United States in Hawaii today. Speaker: David Lange (Prime Minister).
India has airlifted a further 6000 troops to Sri Lanka.
Bad weather caused a train to derail into a river in Wales.
New York subway vigilante Bernard Goetz has been jailed.
Worldwatch:
A summary of international reaction to the United States attack on Iran’s oil platforms in the Gulf. Speakers: Ronald Reagan (United States President), George Bush (Vice President), Rep David Bonior (Democrat, Michigan), Sen Robert Dole (Minority Leader), Sen Sam Nunn (Chairman Armed Services Committee).
Each new military conflict in the Persian Gulf brings fears of the possibility of superpower conflict between the US and USSR. Speakers: Sir Anthony Parsons (British Ambassador to Iran), Victor Orlik (”Soviet Weekly”), Prof Marshall Goldman (Russian Research Centre, Harvard University).
A report from Afghanistan where the Mujahideen are resisting Soviet rule.