16:36 A large blaze is raging in windy conditions in the Christchurch suburb of Southshore. It is understood access to water is an issue.

16:13 More charges are likely after a car was driven into a group of people in Nawton, Hamilton last night.

15:50 Governor-General Sir Jerry Mateparae's being sent best wishes from his government for his heart surgery recovery. He was operated on today.

15:48 Four people have been rescued from Mt Tarawera, near Rotorua after a helicopter landed heavily, causing minor damage. No one is injured.

15:40 Christchurch fire crews are rushing to a blaze in Rockinghorse Rd, Southshore. The fire is in the sand dunes - there are homes nearby.

Mon, 16 Jul 2012

JP Morgans 'whale' trade may now cost it US$7.5 billion

interst.co.nz boss Bernard Hickey tells RadioLIVE's Marcus Lush JP Morgans 'whale' trade may now cost it US$7.5 billion, not the US$2 billion initially estimated. Now American states are looking at a class action lawsuit against the banks that Fixed LIBOR. Also Moody's has cut Italy's rating to two notches above junk and NZ may have hit peak power, which is something buyers of SOEs should think about.

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