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Live.

Tonight - may-day, but Kevin

Rudd won't listen to a mining

SOS. These guys are really just

amateurs and they should be

tossed out of office. The Labor

MP at the centre of the

corruption inquiry. Small

blast in New York, big fallout

across America. And, snooker

shock, did the world No.1 line

his pockets? Good evening,

Juanita Phillips with ABC News.

The reaction to the

Government's resources tax has

been immediate and decisive.

$8 billion wiped off the value

of the big miners in just one

day - and that was just

investors speaking. The

industry itself has come out

with all guns blazing.

Queensland mining billionaire

Clive Palmer has blasted the

idea. He says it'll decimate

jobs and end up making

Australia a third world

country. Here's chief political correspondent, Mark

Simkin. The unions marched for

May-day. They embraced the tax

overhaul and the Prime

Minister. You know something

mate, one of the things all

these people want is decent

super for working families.

That's what this Government's

committed to, that's what this

Government's going to deliver. Delivered courtesy of

a $9 billion a year tax on

resource companies. They

issued a May-day of their

own. The Australian people

won't stand to have their

employment decimated throughout

the country, to have growth

stopped. The mining magnate

thinks the tax will turn Australia into a third world

country. It's a disgrace, the

Treasurer should resign. He's an absolute failure, we should

get rid of him. Clive Palmer is

a major donor to the Liberal

National Party, but other

miners share his concern,

albeit less colourfully. BHP

says:

The more immediate impact's

been on the stock market, where

miners were hammered. BHP fell

3%, Rio Tinto more than

4%. Companies will invest their

money where they can get the

best possible returns. We are

now the highest tax mining

industry in the world. Government and industry

will negotiate... but it won't

be easy. BHP 40% foreign owned,

Rio Tinto, 70% foreign owned.

Most of these super profits are

going overseas. This is a very significant package, probably more significant than anything

in living memory. That's a very

big call. The Opposition

certainly disputes it. You've

read this paper today. Kevin

Rudd is running scared. Tony Abbott won't say whether he'll

try to block the measure. Look,

it's a bit of political jiggery

pokery with an election coming

up. Even before it reaches

Parliament, the overhaul will

deliver a windfall in next

week's Budget. Economists

predict the tax will push the

Budget back into the black in

2013, two years earlier

originally projected. As for

NSW, the Government here is

seeking clarity from Canberra

about the impact of the tax

changes on the State's mining

industry. The Minerals Council

says $17 billion worth of

projects in NSW will be

jeopardised if the profits tax

is implemented. It believes

investment will be harder to

attract to the State and jobs

will be lost. The Government's

been talking about a 2-speed

economy. The result of this

tax is that we're likely to

have a no-speed economy. We

don't want initiatives that

would have a negative impact

upon the sector in NSW. We

carefully to see where it's have to look at it very

going to run. Last year, mining

delivered $23 billion to the

State's economy. For all other businesses, the tax review

changes are something of a

mixed bag. For those doing it

tough, some of the measures are

employers and small businesses a welcome relief, but most

say they will take a hit. One

of the main concerns is that

the superannuation levy

increases will not be covered

by the resources tax, leaving

them to carry the can. Here's

national finance correspondent,

Phillip Lasker. Ian Kindred,

who employs six people in his

office supplies business, is

glad he hasn't been forgotten,

but he's not exactly breaking

out the champagne. I don't see there's anything there to have

a great big party about just at

the moment. A 2% cut in the

company tax rate from 30 to 28%

from mid-2012 is welcome. At the same time, small business

will also be able to get an

immediate tax deduction in one

year for assets worth less than

$5,000. They're things that I

think sort of play at the edges

a bit and aren't terribly

significant. They'll help,

yes. But there's one change in

the wind that wasn't

recommended by the Henry review

and is described as being

bigger than the resources tax.

The 3% lift in the

superannuation guarantee levy

will cost big and small businesses at least $20

billion, more than double the

expected take from the mining

industry. It is not funded by

the proposed resource super

profits tax. It is funded by

Australia's employers and small

businesses. According to the

Chamber of Commerce and

Industry, it's a substantial

hit to Australian business.

They say despite Government

claims, there's no guarantee

future increases in super will

substitute for higher wage

claims. Although not everyone

is concerned just yet. The

increase in the superannuation

guarantee is a real cost to businesses, however the

implementation period is over a

decade. During that time, small

business is hoping for more tax

concessions like less red tape

and lower tax rates for the 50%

of small operators that aren't

companies. To other news now

and a corruption inquiry has

heard allegations that State

Labor MP Karyn Paluzzano helped

devise a scheme to defraud

Parliament. The ICAC has begun

a week-long hearing looking into the conduct for the Member

for Penrith. Mrs Paluzzano is

alleged to have claimed

benefits for her mother and

other staff to which they were

not entitled. Today, Karyn

Paluzzano became the first

Labor MP in five years to walk

into the ICAC at the centre of

a corruption inquiry. Inside

the hearing, the commissioner

heard allegations of a culture

of falsehood in the Member for

Penrith's office. Up to 20 parliamentary allowance claims

for staffers signed by the MP

are alleged to have been rorted. Mrs Paluzzano and

others devised a scheme to

defraud Parliament and benefit

her relief staff, including

Jennifer Launt and the member's

mother, Mrs Goodman. One

staffer today admitted claiming

a parliamentary sitting day

allowance when she wasn't

working. Instead, she helped the Member for Penrith go doorknocking in the electorate

on a different day. The commission is also examining

other alleged rorts. The second

aspect is that Mrs Paluzzano

falsely claimed payments from

her electorate mailout account

to cover the cost of producing

and distributing correspondence

to constituents within the

Penrith electorate. The inquiry

was sparked by a whistleblower

who used to work for Mrs Paluzzano. Counsel assisting

the inquiry said a culture

existed in the MP's office that

the ends justified the means

and that the only relevant end

was her re-election. It is

alleged that procedures were

lax and facilitated corrupt

activities. The Premier is

resisting Opposition calls for

the MP to be stood down. I

support the presumption of

innocence for any member of Parliament. The Member for

Penrith will give evidence

later this week. The defence

case for accused murderer Des

Campbell has begun and ended

with just one expert witness.

Campbell has pleaded not guilty

to throwing his wealthy wife

off a cliff while camping south

of Sydney five years ago. The 52-year-old did not give

evidence. Instead his lawyers

called a biomechanical engineer

who said it was possible Janet

Campbell tripped on rocks or

plants and fell to her death.

But under cross-examination,

the engineer conceded her

footprints were consistent with

her being pushed. The Crown

will give its closing address

on Wednesday. A huge manhunt

is under way in the United

States for a would-be bomber

who tried to blow up a car in

New York's Times Square.

Authorities say they found no

link to the Pakistani Taliban

which has claimed

responsibility, but they are

looking for a man in his 40s

seen on a surveillance camera

acting suspiciously. More from

North America correspondent,

Lisa Millar. With Times Square

empty, bomb squads moved in on

the car, discovering its

potentially deadly haul.

Inside, gas bottles, fireworks,

bags of fertiliser and wired

clocks. Clearly it was the

intent of whoever did this to

cause mayhem, to create

casualties. Police are now

checking hundreds of hours of

material from surveillance

cameras. This is the car

captured driving into the area.

Cameras have also led police to

suspect a white man in his 40s

acting suspiciously in a nearby

alley. We are attempting to get

more pictures of the vehicle.

It's not easy to go through

these tapes. We have looked

atness I think we have 82

cameras in the area. The

Pakistani Taliban has claimed

responsibility, but authorities

say they've found no

links. Thanks to alert New

Yorkers and professional police

officers we avoided what could

have been a very deadly

event. The T-shirt seller who

raised the alarm is being

called a hero.

REPORTER: Your message to the

people of New York? While

authorities describe the bomb

as crude and the work of an amateur, it's what could have

been that's again horrified the

nation. We're going to do

what's necessary to protect the

American people, to determine

who's behind this potentially

deadly act and to see that

justice is done. Within 24

hours, Times Square was

bustling with tourists again,

refusing to be deterred by the

latest scare. The

environmental threat is huge

and the US Government knows it.

A senior official has warned it

could take three months to stop

the oil leak in the Gulf of

Mexico. The massive spill is

threatening the coastline of

several States. As the oil

moved in, the US President flew

to Louisiana to deal with the

crisis. From the Mississippi

delta, North America

correspondent Craig McMurtrie

reports. After a briefing in

the Venice, Louisiana

Coastguard, Barack Obama

emerged to ensure locals that

his administration has launched

an all hands on deck relentless

response. We're dealing with a

massive and potentially

unprecedented environmental

disaster. In driving rain, the

President said he won't be

satisfied until the oil leak is

stopped at the source. BP is

responsible for this leak. BP

will be paying the bill. That's

likely to cost billions. The

oil company is already

accepting compensation claims

and says it's being extremely

aggressive in trying to shut

off the damaged war head. This

is like doing open-heart

surgery at 5,000 feet in the

dark with robot-controlled

submarines. But many Gulf Coast

locals want to know why BP is

still taking the lead, and not

Washington. This is Louisiana,

it's not the State of bp. Ray

Schmitt is a local fishing

guide. Fishing grounds further out on the Gulf have been

closed. He says if the oil

spill reaches here and gets

into this grass and marshland,

it will be ruined. It don't

look good. This is all that

stands between the marshland

and any pollution - a long,

orange line that now stretches

as far as the eye can see. The

water here is only 3 feet deep

but they're weighing it down

with anchors, because the

wind's so strong they're worried the barrier might not

hold. The US Coastguard says

it's one of the most complex

oil spills it's ever seen.

Using ancient DNA to recreate

extinct animals has always been

something of a scientific

fantasy, but researchers in

Adelaide have moved it one step

closer to reality. They've

been able to re-create part of

the blood of a long extinct

mammoth and in doing so, they've discovered it wasn't

just the mammoth's shaggy coat

that helped it survive in

extreme cold. Scientists have

long puzzled over how the

mammoth survived the Arctic

cold. Now a team of 15

international researchers have

found the answer - by returning

life to part of the DNA taken

from mammoth bones in

Siberia. It's just like if you

went back 30,000 years and

stuck a needle in a mammoth and

took some blood out of it. At

the Australian Centre for Ancient DNA Professor Alan

Cooper sequenced the genetic

code for mammoth haemoglobin a

protein that carries oxygen to

the cells. He then created a chemical blueprint which was

added to bacteria to help the

haemoglobin grow. It started

doing really weird things.

That was when it started

getting quite exciting, because

we realised it was completely

unique, the structure of this

thing no-one had ever seen it

before. It was different to

any other mammal we'd ever

seen. In most species,

haemoglobin stops releasing

oxygen in freezing

temperatures, but the

scientists found the mammoth

haemoglobin kept working under

the coldest conditions. What it

showed us is they were cold

tolerant. They could let their

extremities, the tails, the

ears, the feet cool right down

and their blood would keep

working, oxygen would still get

to the tissues and that means

they would save a bunch of

energy. The method could be

used to study the blood of

other extinct species like the

Tasmanian tiger but hopes for

Jurassic Park are far-fetched.

The scientists emphasise

they've only revived a protein

of a species and doubt an

entire animal can be recreated.

Tonight's top story - investors

wipe billions off the value of

the big miners. Still to come

- dressed to skill - designers

flaunt their latest creations

at Fashion Week. A magistrate

has handed a suspended jail

sentence to an Indian man who

lied about being the victim of

a racial attack. 28-year-old

Jaspreet Singh suffered burns

to 30% of his body when he set

fire to his car intending to

claim the insurance. He told

police attackers had doused him

with petrol. Singh pleaded

guilty to criminal damage and

making a false report to

police. The case made international headlines at a

time of heightened tensions

between Australia and India.

Sentencing Singh, a magistrate

in Melbourne said he'd made a

serious and cynical decision to

feed into racism. He was given

an 8-month jail term suspended

for two years. No pain, no

gain they say. Debt-ridden

Greece has accepted a 160

billion international bailout

package. It's come at a huge

price. The Greek Government's

been forced to implement harsh austerity measures and as

Europe correspondent Emma

Alberici reports, there's

fierce opposition to that from

locals. The bomb that ripped

through this bank in suburban

Athens was aimed at one of the

very symbols of this Greek

tragedy - foreign banks that

the public believe have pushed

Greece to the brink of

financial ruin. Many blame the

Greek authorities who stood

back and let it

happen. TRANSLATION: The only

thing I would want from the two

main political parties is for

them to say sorry, because

they're responsible, either from corruption or incompetence. The Greek Prime

Minister addressed this

televised Cabinet meeting and

delivered the news, a $160

billion lifeline from Brussels.

TRANSLATION: At the end of my

term, Greece will not be

bankrupt, it will be

reborn. The rescue plan comes

at a price, higher taxes on

alcohol, tobacco and fuel.

Pensions and salaries in the

public sector will be slashed

and the retirement age lifted

from 53 to 67. If implemented

effectively, and I'm certain it

will be the program will lead

to a more dynamic economy that

will deliver growth, jobs and

prosperity. Greek unions are

again planning demonstrations

for this week, knowing the

Government will be able to pay

its debts is cold comfort for

an economy facing $40 billion

worth of cuts over three years.

On current forecasts, Greece

won't emerge from recession

until 2012. Onto finance, and

that big drop in mining shares

today was partially offset by

solid gains amongst banks and industrials. As Alan Kohler reports, there was good

economic news, as well. About

$13 billion was knocked off the

value of BHP Billiton and Rio

Tinto today. $1 billion more

than the Government's resources

superprofits tax will raise in

total in its first couple of

years. Macarthur Coal fell 10%

because of talk that its suitor

Peabody Coal will now melt into

the shadows.

Here's a graph of BHP's share

price over Friday and today.

That big crunch is probably why

the tax statement and the Henry

review had to be released on

Sunday - because the Government

knew it would have a big effect

on mining companies shares so,

it would have to be outside

trading hours.

Banks went up, because

they'll get more superannuation

to charge nice fees on. Orica

jumped 4% after saying it will spin off its Dulux Paint

Division and Biota rose 8%.

Inflation is at the top end

of the comfort range.

Economists have got the odds of

a rate hike tomorrow at 50-50.

The ABS house price data came

out 4.8% for the March quarter

and 20% for the year.

Definitely boom territory. The

performance of manufacturing

index is at an 8-year high. No

sign of the 2-speed economy

there in which booming

resources kill manufacturing.

Perhaps it will be a sudden

death.

Now they're finally here, CityRail's new Waratah

carriages have captured the

attention of train spotters.

Night-time testing of this new train began in the Hunter

Valley last week. It's now

arrived in Sydney for more

trials across the CityRail

network. The Transport Minister jumped on board this

morning for a look. This is a

pre-production test vehicle.

It's not fitted out for

passengers. There's weights

being put onto the train to

mimic it at its full load. 78

new trains are due to be

delivered by 2013. The first

will pull into stations by the

end of the year, with about 5

more due before the State

election. Australian snooker whiz Neil Robertson couldn't

have picked a worse time to be

challenging for the world

title. He holds a slender lead

in the final, but his victory

charge is being overshadowed by

scandal elsewhere in the game.

The world's top ranked player has been suspended over game

fixing allegations. Peter

Wilkins reports on a day of

conflicting emotions at the

Crucible in Sheffield. 28-year-old Neil Robertson

wasn't born when an Australian

last made a world snooker

final, Eddie Charlton in 1975.

The current world No.4 trailed

in the first session but has

fought back in the best of

35-frame final. In-form coming

into the championships the

final is delicately poised 9-7

in Robertson's favour. Two

sessions tonight will decide

it. Robertson's performance

has been overshadowed by seedy

allegations against 3-time champion John Higgins who made

an early exit at the hands of

veteran Steve Davis. Higgins

and his manager agreed to rig

four frames in a world series

event for 300,000 euros.

Higgins denies any fixing of

matches and his manager says

they were intimidated. It was a

case of, what the hell do we

have to say to get out of

here? The ruling body painfully investigates. The Australians

were beaming during a heavy run

scoring onslaught from Shane

Watson and David Hussey in

their first world Twenty20

outing against Pakistan.

Watson bullied 81 off 49

deliveries while Hussey made

53. Both reduced and size of

the big ground with nine 6s

between them. That more than

compensated for a unique last

over where Australia lost 5

wickets for no runs in six

deliveries. Two run-out, three

to Mohammed Amer. The loss of

early Pakistan wickets proved

the key, as Australia's quicks

dominated. Yeah, they did a

good job on a pretty slow

wicket. I think our fast bowlers will play a big

part. The long arm of the law

took on a new meaning as

Pakistan lost by 34 runs. The

former world No.1 Justine Henin

ended Samantha Stosur's

11-match winning run in 3 sets

at the WTA final in Germany.

Stosur levelled the match by

taking the second set 6-2 but

the Belgium cruised through the

decider 6-1. Henin's first

tournament victory since coming

out of retirement coincided

with Stosur jumping to 8th in

the rampbings. Northern

Ireland's Rory McIlroy did it

by draining a 15-metre putt at

the last for a course record of

10 under par, 62 in his final

round. Two days shy of his 21st birthday, Rory McIlroy

became the youngest winner of a

PGA Tour event since Tiger

Woods in 1996. And, Chelsea

took its chances to win 2-nil

in what fizzed out as the

Premier League danger game

against Liverpool. Chelsea

remained a point ahead of

Manchester United with one

round remaining. While United

plays stoke at Old Trafford,

Chelsea should be capable of

clinching the title at home to

Wigan. International Rugby

League makes its debut at

Melbourne's new rectangular

stadium this Friday when

Australia takes on New Zealand.

The squad includes four of the

Storm's high-profile troubled

players. Their team-mates say

the Storm players won't have

trouble adjusting. Everyone

wants to play rep footy and

those sorts of players, the

Melbourne boys have been in the

rep scene for a lot of years.

They're great players and I'm

really looking forward to

playing alongside them. Another

two Storm players, Sika Manu

and Adam Blair, will line up

for New Zealand. Optimism's up

along with the hem lines,

Fashion Week kicked off in

Sydney today and once again,

what we wear is proving to be a

barometer of how we feel.

After a tough year last year

thanks to the GFC, it seems the

public mood these days is

upbeat and vibrant. The music

is pumping and the models are

back as the Fashion Week

juggernaut hits town. Defying

the trend, Lisa Ho returned

after a strong 12 months.

Stores couldn't get enough of

her collection last year. It

was a bit of a panic at the end

of last year for more stock

which was a really good

thing. But many others did it

tougher as Fashion Week, like

the economy, downsized in '09.

Organisers say it's back to its

glamorous self. Everyone is

back into it. Businesses need

to continue to do business

after what happened financially

last year and we've seen that

with the numbers of designers showing and with the

attendance. And the attendance

of the bloggers is all the

buzz. They share the front row

with the most influential

magazine editors, but don't

have to wait for a print run to

get their view out. It's great

'cause it's so immediate. I

can let them know what's

happening now and it makes very

exciting for the readers. Each

year there's always a lot of

talk about which big names in

fashion will turn up and which

won't, but for young fashion designers, Fashion Week is

still one of the best ways to

get mass exposure. Seventh

Wonderland showed for the first

time this year after plenty of

sleepless nights for the

designers. Yes, indeed. We

haven't slept for 48 hours. I

think it's imperative. I'm the

kind of designer that does it

one year on, one year off. This

year Camilla Franks is back on,

with an Avatar fantasy-inspired

collection dominated by her

trademark kaftans. We had a

few dribs and drabs of rain

over the weekend, but nothing

to write home about.

Very little in the way of

worthwhile rain, and the

forecast models suggest a cold

front crossing the State over

the next 48 hours is going to

pass through but leave many

areas of the State dry.

Patchy rain and isolated

showers into parts of NSW

tomorrow. The front will cross the State during tomorrow and

Wednesday with cooler

south-westerly winds behind it.

Although for the most part,

temperatures will still remain

close to or above the May

average. Any rain ahead of or behind the front should be

light and mostly confined to the north-east and there is

southern inland with brief snow

expected about the alpine

areas. The front will produce

strong winds and showers or

even some patchy rain about the

south-east cities tomorrow.

Tonight's top stories again -

billions of dollars has been

wiped off the value of the big

miners as the industry vows to

fight the new resources tax

hike. An ICAC inquiry has been

told the State Labor MP Karyn

Paluzzano helped devise a

scheme to defraud Parliament.

And, a full-scale man hunt is

under way in the United States

for a would-be bomber who tried

to blow up a car in New York's

Times Square. That is ABC News

for this Monday. I'll be back

with updates during the

evening. And for all the

overnight developments don't

forget News Breakfast, first

thing tomorrow morning on ABC2.

Goodnight. Closed Captions by CSI This Program is Captioned

Live.

Welcome to the program, I'm Tracy Bowden sitting in for Kerry O'Brien who has the flu.

Imposing a hefty new tax on

multinational mining companies

to increase the superannuation