1Some in the financial markets are predicting the New Zealand dollar could hit a new post-float high overnight, after the Reserve Bank signalled an earlier start to interest rate rises than previously indicated. This is due to the low level of inflation and a positive financial forecast.

2Almost a third of the workers at Taranaki's Yarrows Family Bakers have today learned they've lost their jobs. About 200-people work at the bakery which whent into receivership last week.

3Also today - 70-jobs are to go from Kiwirail including 40-from its Hillside Workshop in south Dunedin. This is said to be a direct result of the company's decision to buy trains overseas rather than building them here. But the company says it needs fewer staff with the more modern stock.

4Business News

5Opponents of the Government's legal aid reforms have had details of their tactics to try to change public and political opinion leaked by none other than the Justice Minister, Simon Power. He is moving work from contracted private lawyers and giving it to the expanding public defence service's salaried staff, a move which is widely criticised expecially by private lawyers.

6An Air New Zealand jet is being inspected after it had to make an urgent landing shortly after take off on its way to Perth. It was a Boeng 767-300 and Flight NZ175 and it ran into problems immeduatly at takeoff and a left engine was shut down.