Air New Zealand Buys Ansett - Super and Tax - Americas Cup: Rules, Nerves, Weather and Village - Police Brutality Allegations - East Timor Clash - MIR Spacestation Leased
AIR NEW ZEALAND: Air New Zealand takes off into a new future. A deal subject to regulatory approval will cost over $900 million to Air New Zealand. Ansett staff fear there may be 3000 job losses and are threatening to strike. The takeover hasn't come cheap. The first half cost $540 million the second tranche cost more than $700 million in cash plus some shares. Combined revenue $7.5 billion. Australian punters not particularly happy.
SUPER AND TAX: Finance Minister Michael Cullen says that locking income into genuine super funds is a legitimate way for those earning over $60,000 to avoid the new 39 cent tax rate.
AMERICAS CUP: Nerves and stomachs a flutter on the eve of the cup defence tomorrow. Team NZ and Prada out today for fine tuning. At media conference skippers not giving much away. Rules of engagement finalised last night. Penalty turns will not have to be made immediately and there will be onboard umpires. Designer's clashing on whose boat is fastest..
AMERICAS CUP: Bob McNeil Live: The team say they are as nervous as they were last time and do not know how fast Prada is. On the back of the boats there is a rail with aerials and stuff which is radiating and umpires may have to move forward. Augie Auer: Concerned that there may not be enough wind tomorrow. Sunday's race is in real jeopardy for lack of wind.
AMERICAS CUP: The cup village is expecting thousands of spectators tomorrow. Armada of Team NZ supporters take to the water today. Level of sailing expertise among supporters leaves a little to be decided. Punter Steel Balls says he reckons NZ will win but isn't punting on it.
POLICE BRUTALITY ALLEGATIONS: Sandra Lee's Press Secretary Moana Sinclair heads to court in Levin this morning. Her lawyer claims that Sinclair was dragged by her ankles down the road in the middle of the night. She says that Sinclair was not "forbidden" from driving as claimed by police and that her client did not know why she was being arrested.
EAST TIMOR: NZ Soldiers in East Timor have come under fire close to the border there have been no casualties.
MIR SPACESTATION: An American entrepreneur
has leased Mir in an historic agreement. The plan is to use
the space station to make money. NASA is worried that Mir
will distract the