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5:47pm - Racing has been abandoned for the day.
Not much to be taken from today's events and not the final workout Team NZ would have hoped for.
Now the challengers have three weeks until the Prada Cup series begins, while the Kiwis will wait and watch from the sidelines, racing among themselves presumably.
Still, this week has whetted the public appetite for these AC75 boats, which are obviously capable of high speeds and perhaps less capable of really low speeds.
Join us for live updates of the challenger series, starting January 15.
5:43pm - Team NZ are packing up their boat, so their day is done. Still awaiting official announcement on abandonment.
5:37pm - Everyone just marking time now, still no sign of wind and time running out on the racing window.
5:04pm - Latest word from the water suggests only two races can be sailed today and that needs to happen before 6pm. Unclear which races will happen, if any...
Also, there is no reserve day apparently.
4:41pm - Sounds like racing again within 30 minutes...
4:28pm - Waiting, waiting... some of the crew seem to be napping on the decks of their AC75 boats, so obviously not going anywhere soon.
4:13pm - Still waiting for a revised start time for the second semi and that obviously depends on conditions.
4:01pm - Well, not really sure what happens now. American Magic v Luna Rossa start has already been delayed, but what can they do any different in these light winds?
We may face further delays and potentially more abandonned races, if these conditions don't improve.
Team NZ v Team UK
Fourth leg - Team NZ are way below the layline as they exit the gate and head towards the boundary. They chose not to incur a penalty and turn back into the course.
The Brits have finally made the top mark for the first time...
Both boats are down to 8 knots, desperately searching for a puff to get them airborne.
Team UK have another boundary penalty.
This is a hard watch - like watching paint dry or grass grow. The British are actually travelling faster right now and may even unlap themselves.
The American Magic v Luna Rossa start has been postponed, while we watch this ordeal continue.
Racing has a 45-minute time limit and this one has gone 30 minutes now, so they have quarter of an hour to make the finish.
At this point, the race against the clock is the crucial one - Team UK haven't unlapped themselves yet and the result rests on Team NZ reaching the finish before the cut-off time.
They now have 10 minutes to reach the line.
Wow, Team UK cross closely behind Te Rehutai on the right boundary - that was close, but a low-speed manoeuvre.
Ainslie can see the funny side of this situation, at least. There's a fair amount of laughter coming off the British boat - Team NZ have less than five minutes to claim the win.
The lead is more than 5km, but that seems academic. The more important distance is 500m to the finish.
One minute left on the clock...
Time is up, the race has been terminated and will be resailed after the next race - a stunning result.
Third leg - Management have announced the race has been shortened to four legs. That has to be a mercy rule.
Team UK have another boundary penalty - they are simply 'mowing the lawn', trying to gather enough speed to get airborne. They still haven't finished the first leg and risk being lapped.
The Kiwis are at 30ish knots upwind, the Brits about half that.
Team NZ topple off the foils during a tack and head directly across the course to regain speed. They're having their problems too, but Team UK have another boundary penalty.
The Kiwis round the gate on their hull and head right, trying to find wind to gather speed. They have lapped their rivals as they head downwind to the finish.
Second leg - Team NZ head left and tack back towards the centre of the course, but Team UK have strayed way off course, almost heading back to port.
The Kiwis are reaching 33 knots downwind and looking smooth. They seem to be using both foils in turns, providing more stability than yesterday.
Meanwhile, Team UK are still off the course and yet to complete the first leg. This has to be tough for a sailor as good as Sir Ben Ainslie.
Team NZ reach the second gate, as Team UK finally clear their penalties at the other end of the course.
First leg - Team NZ are already sailing away upwind, with the Brits struggling to make their foils. The advantage is already 500m.
Team UK are now on their foils, but have crossed the right boundary and incur a penalty. They were reluctant to tack away and fall of the foils again, so swallowed the foul.
The Brits are back on their hull and Team NZ are already approaching the top gate, about 1.3km ahead.
NZ have stayed airborne upwind and reach the first gate, while Team UK suffer another boundary penalty.
Start - Both boats are counting down to the start, with Team UK entering from port first.
Team NZ follow from starboard, both slightly late.
Both boats have gone way right, before coming back to the line - Team NZ simply follow UK around, but have inside running to the line.
Both struggling to get onto the foils, but Team NZ have kept UK off the line and have the better start, as the Brits have to tack back to make the start.
3:02pm - First up today, the Kiwis should handle the Brits, who may not have even finished their second race yesterday, before sailing off the course and back to port.
Team UK are on a very steep learning curve and they would need a miraculous change in fortunes to prevail today. That said, yesterday's racing showed anything can happen in these light winds.
Kia ora, good afternoon and welcome to Newhub's live coverage of the Christmas Cup - the final competitive outing for Team NZ, before their America's Cup defence in March.
While the three challengers will be battle-hardened by the time one of them race off for the 'Auld Mug', the Kiwis have no more opportunities to fine-tune their skills against opposition, so they'll want to make the most of it.
Their campaign appears on track, after taking out the world series over the past three days, but their five-win/one-loss record belies how close some of those results were, particularly on Saturday, when helmsman Peter Burling lost both starts, and had to come from behind for victories against American Magic and Luna Rossa.
In light airs, Team NZ trailled the Italians by as much as 800m, after falling off their foils during a tack, and only rallied, when Luna Rossa suffered the same fate further down the course and took longer to recover.
With Dean Barker at the helm, American Magic had already beaten the holders on opening day, so the margin of error for the Kiwis is obviously much smaller than many predicted, especially on these fickle AC75 boats.
They face Team UK in the Christmas Cup semis and even the Brits had the better of Burling at the start on Day Two, before they eventually capitulated. The Olympic champ will want to tidy that up today.
Today's race schedule, starting at 3:12pm, looks like this:
Race one - Team UK v Team NZ (15:12)
Race two - Luna Rossa v American Magic (15:50)
Race three - Winners R1 v Winners R2 (16:37)
Race four - Losers R1 v Losers R2 (17:15)
Today's wind will be a north-northeasterly of 7-12 knots, which is even lighter than yesterday, when crews had trouble staying on their foils.
Racing will take place on Course A, which is a little further along East Coast Bays than Saturday and out of the shadow of Rangitoto Island.
Best vantage points to view the action will be Milford Beach, Takapuna Beach, Kennedy Park, Possum's Lookout and George Gair Lookout.
TAB: Team NZ $1.35, American Magic $4, Luna Rossa $6, Team UK $101