The Collaborative International Dictionary of English v.0.48:

Late \Late\ (l[=a]t), a. [Compar. Later (l[=a]t"[~e]r), or
   latter (l[a^]t"t[~e]r); superl. Latest (l[=a]t"[e^]st) or
   Last (l[.a]st).] [OE. lat slow, slack, AS. l[ae]t; akin to
   OS. lat, D. laat late, G. lass weary, lazy, slack, Icel.
   latr, Sw. lat, Dan. lad, Goth. lats, and to E. let, v. See
   Let to permit, and cf. Alas, Lassitude.]
   1. Coming after the time when due, or after the usual or
      proper time; not early; slow; tardy; long delayed; as, a
      late spring.
      [1913 Webster]

   2. Far advanced toward the end or close; as, a late hour of
      the day; a late period of life.
      [1913 Webster]

   3. Existing or holding some position not long ago, but not
      now; recently deceased, departed, or gone out of office;
      as, the late bishop of London; the late administration.
      [1913 Webster]

   4. Not long past; happening not long ago; recent; as, the
      late rains; we have received late intelligence.
      [1913 Webster]

   5. Continuing or doing until an advanced hour of the night;
      as, late revels; a late watcher.
      [1913 Webster]

WordNet (r) 3.0 (2006):

latest
    adj 1: up to the immediate present; most recent or most up-to-
           date; "the news is up-to-the-minute"; "the very latest
           scientific discoveries" [syn: up-to-the-minute,
           latest]
    2: in the current fashion or style [syn: latest, a la
       mode(p), in style(p), in vogue(p), modish]
    n 1: the most recent news or development; "have you heard the
         latest?"

Moby Thesaurus II by Grady Ward, 1.0:

40 Moby Thesaurus words for "latest":
   actual, as is, being, closing, concluding, contemporaneous,
   contemporary, current, eventual, existent, existing, extant,
   farthest out, fashionable, final, fresh, hindmost, immanent,
   immediate, in, instant, lag, last, latter, modern, most recent,
   new, newest, present, present-age, present-day, present-time,
   rearmost, running, terminal, that be, that is, topical, up-to-date,
   up-to-the-minute