Morning Report

It's Friday so we cross the ditch to Canberra to talk to our correspondent Kerry-Anne Walsh.

Some of the world's top track cyclists are in Cambridge over the next three days competing in the fourth round of the track cycling world cup.

Five-hundred riders from 44 countries are taking part, all with an eye on doing their best to help qualify for next year's Olympic Games in Tokyo.

The Cambridge event comes just a week after riders competed in Hong Kong, with mixed results.

Andrew McRae went out to the Avantidrome to talk to some of the New Zealand team.

Up to 200 New Zealand children with epilepsy may be missing out on a diet treatment that could make them seizure-free.

Help from a dietician is essential to assist parents manage the extremely strict ketogenic diet required to treat their child.

But that help is is funded by only a handful of district health boards.

Teresa Cowie has been talking to those who want to see urgent change.

After two years of debate health officials are now recommending that drugs containing codeine should available only on prescription.

Doctors and pharmacists are split - they want to stamp out abuse but fear legitimate users will be left in pain.

Jordan Bond reports.

Residents on a major arterial route in Wellington are worried about a six-month-long road closure and one business is even considering shutting down.

New water mains need to be installed along Wallace Street in Mount Cook, before the city can begin work on a massive new water reservoir.

But that means the road, which is used by about 20,000 vehicles a day, will be shut to through-traffic in the New Year - a closure that could last until the middle of next year.

Michael Cropp reports.

A brief update on the movements in the financial sector.

Trustees from Dilworth school for underprivileged boys in Auckland are asking donors to help them to establish an equivalent school for girls.

Dilworth opened in 1906 and it offers fully funded boarding scholarships to boys from disadvantaged backgrounds in the North Island.

Frances Valentine is a Dilworth trustee and joins us in our Auckland studio.

Carvings from a Te Arawa wharenui are set to return home - more than 120 years after leaving New Zealand shores.

The wharenui Hinemihi was a tourist attraction at Lake Tarawera but was sold to English governor-general Sir William Onslow in the late 1800s.

But some descendants have mixed feelings about the return - saying they were kept in the dark by Heritage New Zealand.

John Boynton has more.

The government will take the recommendations of a study into New Zealand's petrol industry to Cabinet - with the aim of reducing the cost of fuel consumers.

Yesterday the Commerce Commission released its final report into the sector - finding the industry could do more to be more-competitive and making several recommendations to fix the problems.

The Automobile Association has been advocating for premium prices to be clearer for years.

AA Petrolwatch spokesman Mark Stockdale speaks to Corin Dann.

A chief economist says the Reserve Bank has underestimated the impact of its latest moves on borrowing.

The Reserve Bank is going to require banks to nearly double the amount of capital they need to support their lending.

The central bank has confirmed that big banks will have to raise the amount of capital they hold from 10.5 percent of their loans to 18 percent.

The deputy Governor Geoff Bascand says for customers it means a small rise in the cost of borrowing but there's also a payoff.

ASB's Chief Economist Nick Tuffley speaks to Kim Hill.