In a medium bowl, combine flour, baking powder, baking soda and salt; set aside.
In a very large mixing bowl, beat butter and shortening with an electric mixer on medium to high speed for 30 seconds. Add granulated sugar and brown sugar. Beat until combined, scraping sides of bowl occasionally. Add eggs and vanilla. Beat until combined. Gradually add flour mixture, beating on low speed just until combined (dough will be stiff). Using a wooden spoon, stir in semisweet chocolate pieces, white baking chocolate chunks and hazelnuts.
Drop dough from a rounded measuring tablespoon 2-inches apart onto ungreased cookie sheets.
Bake in a 325 degree F. oven for 12 to 14 minutes or until edges are light brown (do not overbake). Cool on cookie sheets for 1 minute. Transfer to wire racks and let cool. Makes about 60 cookies.