WELLINGTON, May 31 (Reuters) - Following are some of the lead stories from New Zealand metropolitan newspapers on Friday.
Stories may be taken from either the paper or Internet editions of the papers.
Reuters has not verified these stories and does not vouch for their accuracy.
Cartoons no joke for the poor - Devoy: Relevant offers Race Relations Commissioner Susan Devoy has questioned the high threshold for a finding of racism after cartoons about the Government’s breakfast-in-schools programme created controversy.
Lombard four face time in ‘gilded cages’: Former Lombard Finance director and ex-National Cabinet minister Sir Douglas Graham could face up to a year wearing an electronic ankle bracelet on home detention in one of his two substantial houses.
Phone records would pinpoint leak - Peters: NZ First leader Winston Peters is demanding the release of phone records to pinpoint the source of the leak in the Government Communications Security Bureau inquiry.
Big hike in Trade Me fees tipped: Sharemarket analyst Morningstar is tipping a big hike in Trade Me’s property and vehicle listing fees.
Reserve Bank indicates curbs on low deposits: The Reserve Bank is raising the red flag that it could bring in limits on low- deposit bank loans, curbing home lending overall but helping it keep interest rates lower for longer.
Reception mixed for placement: Metlifecare’s bid to raise NZ$80 million and pay off its debt has met mixed reactions, with the deal labelled a win for the company’s balance sheet but a blow for existing shareholders.
NEW ZEALAND HERALD (www.nzherald.co.nz)
Migrants’ parents left alone in NZL Thousands of elderly migrant parents, sponsored by their children under a family reunification scheme, are being left to fend for themselves in New Zealand.
Convicted knight may give up honour before PM acts: Prime Minister John Key will wait to see whether Sir Douglas Graham takes a further appeal against his conviction before he considers whether to strip Sir Douglas of his knighthood, and there is speculation that Sir Douglas could take the decision out of his hands by offering to surrender it.
Regular price rises doing trick but teamwork stubs habit: Forcing up tobacco taxes every year is having an effect. It’s hitting the price point for many smokers, galvanising their resolve to quit.
NZ formula draws bad news in China: Chinese state-run television has put the heat on New Zealand’s lucrative infant formula manufacturing industry in a series of news stories, raising concerns that this country’s reputation for high-quality food products - the driving force behind more than NZ$2 billion in annual dairy exports to China - may have taken a hit.
Wheeler warns on housingL It could take three to five years to close the gap between housing supply and demand in Auckland, if left to supply measures alone, says Reserve Bank governor Graeme Wheeler.