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Insider Trading - GDP Figures - Tax Increases - Naenae Machete Attack - Crash Report - 747 Crash - Venezuelan Floods - Charges Over Oil Spill - Monster Shark

INSIDER TRADING: Fletcher Challenge insider trading row. Kerrance Hoggard has apologised for the incident.

GDP FIGURES: Economy booming but no reason to celebrate says Government. Finance Minister Michael Cullen says the highest rates of growth in 15 years is being fueled by consumer spending not export growth. Former Treasurer Bill English says it is not as bad as Michael Cullen says. Cullen however says that the growth figures are too bouncy to be relied on.

TAX INCREASES: Michael Cullen hits out in the house at previous government's tax cuts. 203,000 taxpayers will be affected paying a new top rate of 39 cents on earnings over $60,000. ACT's Rodney Hide says the tax hike will cause a brain drain. National's Bill English says Michael Cullen is motivated by "envy".

NAENAE MACHETE ATTACK: Victim set upon in Naenae by a man with a machete. Several witnesses saw the attack.

CRASH REPORT: The family of a pilot who crashed in Te Anau killing five defend their sons reputation. The crash happened in April 1999. A report says that the pilot flew unnecessarily low regularly. The report also criticised Waterwings. Waterwings says that he was not a cowboy pilot and points out that the pilot flew in the area for 8 years.

747 CRASH: Korean cargo Jumbo Jet explodes bear Stanstead airport.

VENEZEULAN FLOODS: Looting now a problem as people with nothing try to get food. Priority now getting help to cut off areas. In Coastal towns the residents are either dead or evacuated. In a Children's Hospital the mud level is well above the second floor.

CHARGES OVER OIL SPILL: Charges have been laid against a ship believed responsible for the Poor Knights Island oil spill.

MONSTER SHARK: A large shark near Kaikoura is hunting seals. Swimmers asked to look out.

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