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Sydney Breakout – NZ Olympic Woes – More Petrol Price Rises – Foreign Investment – Queenstown Landslide

- SYDNEY BREAKOUT: There was a prison breakout in Sydney with an Olympic connection. Two escaped prisoners hijacked an Olympic vehicle with two passengers on board. They have released the passengers.

- NZ OLYMPIC WOES: A vet’s inspection ended the hopes of the New Zealand equestrian team of getting a medal in the teams event. Two horses were ruled unfit to compete. Blyth Tait’s horse Ready Teady had a bruised foot, which the vet decided was too sore for him to compete. Andrew Nicholson also had to pull out of the three day event with his horse injured. Blyth Tait and Mark Todd hold New Zealand’s equestrian hopes in the individual event.

Sarah Ulmer’s failed to get a bronze medal in the cycling individual pursuit, beaten by less than a second.

- MORE PETROL PRICE RISES: A new round of petrol prices looms as crude oil reaches a 10 year high, and the Dollar languishes around US40c. Diesel looks likely to face the biggest price hike. Retail prices may soon rise, with the pressure of higher petrol prices and the low dollar.

- FOREIGN INVESTMENT: New Reserve Bank figures bear out the flight of investment in New Zealand. American company Heinz, which owns Watties, is one of a few overseas companies that is taking advantage of the lower New Zealand dollar. The Prime Minister refuses to be negative about the NZ dollar.

- QUEENSTOWN LANDSLIDE: Engineers hit with dynamite today, as they try to clear the road to Queenstown that was closed by a massive landslide in the weekend. The efforts continue, with helicopters carrying monsoon buckets washing away debris dislodged by the dynamite blasts. The road will not be open until mid-Thursday at the earliest.


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