NZ Herald
The New Zealand Herald says the Commerce Commission took the unusual step of announcing an investigation into whether Hanover Finance had misled its investors and the public within hours of receiving complaints yesterday. The front page also features a picture of a house under construction belonging to Hanover co-owner Mark Hotchin, said to be worth around $30 million. The paper also says Foreign Minister Winston Peters arrives home today under pressure to salvage his credibility after more damaging revelations on secret donations.
Dominion Post
The paper says Prime Minister Helen Clark has rejected calls to grill Winston Peters over donations to New Zealand First, saying he has assured her he has done nothing illegal. The Dominion Post reports how 13 year old Benjamin Pak, who is suffering from leukaemia has lost out on a promised trip to the Gold Coast after a trust fund set up on his behalf with Hanover was frozen. The paper also says some parents of child cancer sufferers are having their girls' eggs frozen to give them the chance of having their own babies one day.
The Press
The Press says banks are under pressure to reduce mortgage interest rates after the ASB defied expectations with a cut yesterday. The bank reduced its two-year fixed rate yesterday afternoon, in response to the Reserve Bank's decision to lower the Official Cash Rate. The paper also says father of five Craig Alan Ford sent a desperate text message to his partner saying he was lost, hours before police found his body on a North Canterbury riverbank yesterday morning.
Otago Daily Times
The ODT says home owners could be waiting a long time before receiving relief from falling mortgage rates according to a Dunedin financial adviser. The paper also looks at Otago residents making the NBR rich list. And The Otago Daily Times features the renovation underway at Dunedin's Knox church which is covered by more than 5 km of scaffolding.
