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(generated from captions) which you could imagine company

taxes being brought down in

this country? Because they want

it halved. They say we're becoming uncompetitive in

Australia in world terms,

because so many other companies

have much lower company tax

than Australia does? Well the

Henry Review is doing a root

and branch examination of our

taxation system, both personal taxation and business taxation

and at the core of that is the extent to which it is

internationally competitive.

So certainly, rates of company

taxation are on the agenda in

terms of the Henry Review. But

I don't intend to pre-empt that

in this interview or any time

before the Henry Review

reports. Except you rule out

any increase in the GST to

achieve that, because that's

precisely what they asked

for? We ruled that out in the

terms of reference and for good

reasons. A very substantial

increase in the GST that

they're calling for would have

a dramatic impact on the living

standards of many people on low

and modest incomes in this community. Wayne Swan, we'll

have to leave you there. We

thank you for taking the time

to talk to us now. Good to be

with you. There've been mixed

reactions in the Israel and the

Palestinian territories to the

Israeli Prime Minister's

landmark speech endorsing the

idea of an independent

Palestine. Benjamin

Netanyahu's offer is a reversal

of his earlier stance and a

partial response to recent

pressure from the US President

Barack Obama. But the Israeli

leader has attached stringent

conditions for Statehood,

conditions Palestinians swiftly

rejected. And he's refused to

bow to demands to freeze

construction of Jewish

settlements in the West Bank.

Middle East correspondent Anne

Barker reports. Every day

Jewish settlements in the

occupied West Bank continue to

grow. Construction shows no

sign of stopping, despite

Benjamin Netanyahu's offer of

Palestinian Statehood. He is

not going to stop settlements,

we have attempts to move a

peace process which was moving

like a turtle. Now it's

flipped on its back. It's

settlements like this one that

have given rise to the latest

tensions between Israel and the

US and remain a sticking point

with the Palestinians. If

settlers have their way, none

of that will change. Having a

Palestinian State is sort of

like having a bomb that's about

to explode in your backyard.

I'd be very concerned. Yes.

Echezkel Schatz call it the biblical name. They'll do anything to protect their

historic rights. I would

demonstrate and do whatever I

can to stop it from happening.

That's how I see it, I would be

very concerned if a lot of

people buy into that Arab

propaganda and say "Let's just

give them what they want and

then they'll live with us in

peace". In last night's landmark speech Benjamin

Netanyahu didn't freeze

infrastructure construction.

He said it must have no army,

no control of its air space and

no means of smuggling in

weapons. TRANSLATION: If we

receive this guarantee of

demilitarisation and if the

Palestinians recognise Israel

as the State of the Jewish

people, we will be ready for a

real peace agreement. Even

before he took the stage, the

protests began. Hardline

extremists are bitterly opposed

to any form of Statehood. We're

here to tell Benjamin Netanyahu

that he was elected by a

majority of people that wanted

him to guard the land of Israel

and if he'll betray us again,

we'll take him down

again. While those from the

left called for a two-State

solution and an end to Jewish

settlements, in Gaza Hamas

leaders branded the speech

racist and called on Arab

nations to form stronger opposition towards


leaders should reevaluate their

positions after this racist

speech and should form stronger

opposition to Israel. In the

end, by trying to please all

sides Benjamin Netanyahu may

fail to satisfy anyone. For

him, that might be the best

possible outcome. The bodies

of seven foreigners including a

child, have been found in

northern Yemen. The dead were

part of a group of nine people taken hostage by rebels last

week. Amongst them were seven

Germans, a British engineer and

a South Korean female teacher.

They were all connected to an

international relief group and

helping to bailed hospital in

the region. Two children who

were reportedly captured have

been found alive. Rival

supporters have clashed in the

streets of Tehran following

Friday's disputed presidential

election. Tens of thousands of

opposition supporters have

defied a ban on demonstrating

to see the reformist candidate

third public appearance since Mir-Hossein Mousavi make his

the results were announced.

The Opposition has formally appealed against Mahmoud Ahmadinejad's re-election and

the European Union has called

for a probe into the way the

election was conducted. Middle

East correspondent Ben Knight

no doubt that Mahmoud reports from Tehran. There's

Ahmadinejad can pull a crowd.

Tens of thousands of people

packed this Tehran square to

show their support. They

insist he won this election in

a fair fight. I mean, everybody

accused the other party of

cheating, but the fact is

that... I mean, cheating OK one

million votes would be

cheating. I accept that. Two

million, but not 12

million. And they were scathing of anti-government protesters

who've taken to the streets in recent days. They're behaving

like animals. But Opposition

demonstrators are just as

vocal. They're furious with

President Mahmoud the landslide re-election of

Ahmadinejad. It's been rigged

and they changed all the

results for themselves and that

was one big charade. Once

again, riot police were out in

force trying to break up

protests. They're under orders

to stop foreign television news

crews from filming. Police

repeatedly fired tear gas into

the crowds. At least one

police officer was injured in

the clashes. And for a second

night, protesters were lighting

fires. Mahmoud Ahmadinejad

played down the protests. He

likened it all to a soccer

match, with the protesters

behaving like the fans of a

losing team. TRANSLATION:

Speaking of legitimacy is not

appropriate. How do you come to

the conclusion that the people

do not accept the election

results? Did you contact 40

million people? But

international observers fear worse is to

worse is to come. Will there be

a Tiananmen Square-type

crackdown? If there is a

Tiananmen Square-type crackdown

what can and will President

Obama do? It sure looks like

the way they're suppressing

speech, the way they're

suppressing crowds, the way in

which people are being treated

that there's some real doubt

about that. The losing

candidate Mir-Hossein Mousavi

has called for this entire

election to be annulled. That

seems very unlikely. Here in

Iran the last word always goes

to the supreme leader Ayatollah

Khamenei, and he's described

this result as a divine

blessing. Swine flu has caused

its first death outside the

Americas, a woman from Scotland

died from the illness over the

weekend. In Australia, more than 15 country people have

been diagnosed with the illness

and 6 patients remain in

intensive care. Medical

reporter, Sophie Scott. It

isn't quite the trip of a

lifetime that these young

lacrosse players were hoping

for. Shortly after these

photos were taken, the

Australian under 21 team was

put in strict quarantine in a

hotel one hour north of Seoul

after a member was diagnosed

with swine flu. We're in

separate rooms all the players

and the management and coaching

staff. The management and

coaching staff are able to

interact with the players in

their own room, as long as we

keep our masks on. They're

being treated well, with room

service three times a day. But

they aren't allowed to leave

their rooms or socialise

together. Around the world,

most patients are swine flu

have only had mild symptoms.

But with the spread of the

virus, the death toll has risen

to more than 140, and swine flu

has claimed its first Victoria

outside the Americas. A woman

with other health problems died

in this Scottish hospital. In

Australia, six people remain in

intensive care. Three swine

flu patients in Victoria have

been in a serious condition

since last week. Two are

breathing on ventilators.

Authorities aren't releasing

many details, but they say not

all of the patients in

intensive care had underlying

health problems before they

contracted swine flu. And

doctors are warning that people

with respiratory problems such

as asthma are more at risk of complications. Based on

information from America, about

40% of the admissions to

hospital with swine flu have

been related to underlying

asthma. Asthma is the

commonest chronic illness in

people in the age range where we're seeing swine flu. Young

people with asthma who develop

flu-like symptoms are urged to

seek medical advice.

'Lateline Business' coming up

in a moment. If you'd like to look back at tonight's

interview with Wayne Swan or

review Lateline's stories or

transcripts you can visit our

website. Now here's 'Lateline

Business' with Ali Moore.

Thanks, Tony. Tonight - a

capital idea, Asciano shuns

private equity in favour of a

$2 billion capital raising. We

can start looking at this

company on a longer term view

and shareholders can perhaps

sleep easier at night. The only

way is up - business prepares

for higher interest rates. Even

if the Reserve Bank decided to

move rates lower, I think it

will probably not translate

into lower rates for commercial

customers. In the medium

terms, rates will go up, not down. And disunity - business

groups set different agendas

for tax reform. What we want to

see is a move away from taxing

the means of production. If

you do that, then you have to

move to some other form of

taxation and that, therefore,

brings into play the GST. We

believe the priorities is not

there, it's actually reducing

personal income tax rates and reducing personal income tax

rates to the same level as the

company tax rate. To the

markets, and local shares

closed lower despite a positive

lead from Wall Street over the

weekend. The All Ords fell 31

points, as weaker commodity

prices weighed on mining stocks

. The ASX200 shed 0.75%. In

Japan, the Nikkei retreated

from a 7-month high. Hong from a 7-month high. Hong

Kong's Hang Seng dropped 2% and

in London, the FTSE is down

1.5%. A heavily indebted

Asciano has been in a fight for

survival for much of the year

but improved market conditions

have saved the group from a

fire sale. Instead, the board

will look to equity markets to

raise $2 billion, giving

existing shareholders the

chance to benefit from an

economic recovery down the

track. But capital raising

comes with a high price tag.

Shares will be offered at a

deep discount and dividends

have been suspended for the

foreseeable future. Neal

Woolrich reports. Not so long

ago, Asciano was at risk of

becoming Australia's highest profile casualty of the

financial meltdown. To stave

off concerns over nearly $5

billion in bank debt, it had

been in talks with private

equity terms to buy large parts

of its business. Now with the improvement in financial

markets, Asciano has decided to

go to the market instead for a

fresh capital injection. This

is extremely compelling

outcome, certainly cleaner,

quicker and more certain for

the company to crystallise the proceeds and the prophets out

of our assets. Asciano's chief

executive Mark Rowsthorn says

the company only agreed to the

plan this morning, after it was

suggested by the investment

bang UBS just days ago. It

would see Asciano raise a

minimum of $2 billion by

issuing stapled securities in

four lots at $1.10 per

security, a 40% discount to

Friday's closing price. More

than a third is expected to

come from existing retail and

institutional shareholders.

$151 million from Mark

Rowsthorn and the rest from

high-end investors in the

broader market. Austock's

Andrew Chambers says the

capital raising is a positive

move and argues the discount is

not so significant when

compared to Asciano's longer

term share price. We can start

looking at this company on a

longer term view and

shareholders can perhaps sleep

easier at night. Is the stock

going to rebound back to the

highs it was at a year or two

ago? No, it's not, but will it

be here in a couple of years time? Well it should be

now. Asciano says it will use

the funds primarily to pay down

bank debt. The group has $4.9

billion in outstanding loans,

of which $2.7 billion matures

next financial years. There's

still potentially a slight

funding shortfall in 2010, but

provided they can extend the

matures on those facilities,

then they should be OK and

start generating good cash flow

from 2011 onwards. While

Asciano seems to have solved

its debt problems, its

operating performance is still

being held back by the economic

slowdown. The group is

forecasting full-year earnings

of $655 million this financial

year, up 3% on 2008, and 3-7%

earnings growth in the

following year. Everyone's sort

of looking for growth out of

this company and next year's

earnings as a guidance was

modestly up on this year's and

for a high-growth stock that

might disappoint some. But

then for others that were

fearing the end of the world,

it might be seen as a

reasonable outcome. The company

has decided not to pay a

dividend this year and will

wait until the debt restructure

is complete before declaring

another distribution. Evans

and Partners analyst Paul Ryan

says that's essential in the

circumstances. While investors

may have some sympathy for that

argument, they might be ruing

Asciano's decision late last

year to knock back a private

equity takeover approach. We

don't know the details again of

how conditional the $4.40 offer

was from private equity

consortium put to them in

August last year. That may

have never happened, but we're

now issuing equity at a quarter

of what that possible offer

price was, so this clearly been

a lot of valuation destruction

from delaying. While this deal

appears to save Asciano from

potential crisis, the company

from which it demerged has no

such debt issues. Toll

Holdings is back on the

acquisition trail and is buying Darwin-based Perkins Shipping

for an undisclosed amount which

it says will be funded out of

existing facilities. Another

company burnt by buying assets

at the top of the market is

Mexico's Cemex. Two years ago

Cemex bought Rinker's

Australian and global assets

for $17 billion. It's been

forced to sell as Australian

operations to a Swiss rival for

$2 billion to pay down debt.

Last year, Cemex Australia

which employs nearly 3,000

people had pre-tax earnings of

$313 million. I spoke earlier

to Rob Taubman at UBS for a

look at the markets. Rob

Taubman, the big drag today was

the mining sector, what triggered and selloff? I think

the sector has had a strong performance the past few weeks.

A pause is a positive thing.

Probably the issues are regulatory approvals for the

transactions in place with Rio

and BHP. I think the issues of

funding for Rio will still be

around for a few weeks.

They're probably the two main

hazards on the horizon and I

suppose the other issue just

generally, offshore markets

taking a breather. If we stay

with resources but in the other

direction, At lass Iron got

interest today, why? They're

doing raising and that company

is about building

infrastructure to produce iron

ore out of WA, clearly with the

merger of the two large parties

there's a real focus on who

else can produce iron ore for

Chinese demands. I think a positive time to be doing that

sort of transaction and looking

at new producers in the

area. We're likely to see more

along these lines, more new players? If markets remain

strong, there's been a

resurgence of activity looking

and if financing becomes

available, I think yes we will

see more players come to

market. Away from resources,

and shares in the office

property group Goodman surged

9% today. There's been

speculation about Goodman for a

while now? A very strong run in

the stock. It is up about 100%

over the month. The press

speculation has been around the

issue of the balance sheet and

the company correcting those

problems. Much talk there'll

be money brought into the group

whether that be from placement,

been speculation in capital raising or there has

been speculation in the media

that a sovereign fund might

spectate. The gearing is high

and needs to come to market

levels. That 9% rise - what was

that bouncing out in terms of

the most likely outcome ? With

a lot of these companies where

the core issue is the debt

rather than a problem with the

business or its assets, there

is somewhat of a mood by the

market to move onto the register ahead of the capital

raising. I think there's been

a bit of that activity with

people wanting to be on that

register should the company

decide to come to the market to

restore its balance sheet. Also

today, Toll Holdings has

announced it's buying Perkins Shipping, how significant is

that deal? I think that's a

very good strategic acquisition

for the group. It's probably

the next phase of this market

is where we stop just restoring

balance sheets and we actually

see M&A and corporate activity

commence. This is putting an

asset into the group that gives

it correct line haulage to

Singapore. It allows it to

integrate shipping into the

rail network in Australia.

Obviously it's a big player in

that space. More broadly Rob

Taubman, is it fair to say that

Australian cyclical stocks are doing better than their

overseas counterparts? The

sentiment on Australia has

really improved and we're

seeing with the currency moving up a number of international

investors revisiting our shores

for our stocks. Stocks such as

Fairfax, Boral that are good

Australian cyclicals are

continuing to perform quite

well. You'd have to say,

Government stimulus to date has

seen our economy fare

significantly better than

overseas markets. Thanks for

joining us. Thank you. To the

other major movers on our

market today:

The Government has rejected

the Business Council's idea of

a higher GST to pay for a cut

to corporate tax rates. But

the BCA will push ahead with

its reform agenda, despite

opposition from rival peak

business groups and retailers.

Desley Coleman reports. Arthur

has been making pizzas for

nearly 40 years. His business

is an institution in Sydney's

Eastern Suburbs, and he says

conditions are the toughest

he's seen. For a small business

like mine, it's very hard. You

have to put in long hours. I

start 6 o'clock in the morning,

finish 10 o'clock in the night.

I do that for 7 days a week, to

increase in the Goods and survive. Arthur Premtis says an

Services Tax would be

devastating for business. And

it's a similar story for Linda

Heaphy who's been a re-Tayler

for nearly 20 years. Businesses

are struggling already. A lot

of businesses have no more than

one to two months rent in the

bank at the moment. I know we

fit into that category. Within

a quarter, we could possibly go

out of business if GST was

increased and we were required

to pass that on immediately to the Government. It comes down

to cash flow. In its submission

to the Henry Tax Review, the

Business Council of Australia

wants company tax to be cut in

half. A reform it suggests

should be funded by a higher

GST. What we want to see is a

move away from taxing the means

of production, and if you do

that then you have to move to

some other form of taxation and

that, therefore, brings into

play the GST. John Hart is the

chief executive of Restaurant

and Catering Australia, an

industry body that represents

around 40,000 restaurants and a

quarter of a million employees.

He says tax reform that

penalises consumption will cost jobs. The average restaurant

makes 3.8% net profit, so as

soon as you start encroaching

on levels of business you'll

start to see businesses go out

of business. The Australian

Chamber of Commerce and

Industry represents 350,000

businesses around Australia.

Chief executive Greg Evans says

priorities for tax reform lie

elsewhere. We don't think it's

a tax reform which Australia

really needs at the moment. In

fact, when it comes to tax

policy it's all about setting priorities. We believe the

priority is not there, it's

actually reducing personal

income tax rates and reducing personal income rates at the

same level as the company tax rate. With Government debt

forecast to top $50 billion

this year, the chances of

radical reform to either

corporate or personal tax rates

appears slim at best. A buy

local initiative from the NSW

State Government has been

criticised as protectionist.

The State Government says it will stack odds in favour of

local companies when awarding

$4 billion in public contracts.

The Federal Government is

concerned the plan sends the

wrong signal on trade. This is

precisely the time to maximise

and enhance our openness and

our engagement. And the sort

of proposals that are being

I think, aren't in the mooted by reports this morning,

long-term interests of the

nation. The NSW Government is

expected to forecast a deficit

of $1.3 billion when it hands

down its Budget tomorrow. The

business community is fearing

the worst after the surprise

move by the Commonwealth Bank

last week to lift its mortgage

lending rates. Speculation is mounting that other banks will

follow suite and analysts

believe it's only a matter of

time before business rates also

rise, regardless of future

moves in official rates.

Andrew Robertson reports. The

Commonwealth Bank's decision to

unilaterally lift its mortgage

rates is being seen by the

business community as an

ominous sign of what lies

ahead. Business largely missed

out when home lending rates

were slashed over the last nine

months and is far from happy at

the prospect of higher

charges. Our folks are resigned

to the fact that they're in for

a hard time. They're working

their way through it, but want

more flexibility and maybe new

products and more out of the

box thinking from these

banks. According to a recent

survey of the association's

members in the period where

official interest rates have

more than halved, 50% of small

retailers have received no reduction in the interest rate

on their business loans. 70%

have had no cut in the rate on

their overdraft and 96% have

had no lowering of their credit

card rates. Banking analyst

Martin North says the outlook

is not any better. Even if the

Reserve Bank decided to move

rates lower, it will probably

not translate into lower rates

for the commercial

customers. According to Martin

North, what will send interest

rates up is the simple economic

law of simply and demand for

money. Governments around the

world, companies around the

world and banks around the

world are all rapidly trying to

grab more funds and the cost of

those funds because of supply

and demand are going up. The

long-term rate is higher than

it's been for months. That's

the thing underlying the

conundrum the banks face. Which

was the justification used by

the Commonwealth Bank on Friday

to lift mortgage rates.

However Zoran Knezevic believes

it isn't black and white. I

wouldn't believe that's working

against the banks. It is

working in their favour. And

Zoran Knezevic says recent

suggestions from the banks that

they may soon be able to live

without Government guarantee

for their borrowing suggests a

grab for profits was part of

the reason behind the

Commonwealth's actions. It is a

little at odds, the fact

they're saying we don't need

the guarantee, on the other

hand saying " funding costs

have gone up". For retailers especially one of the big concerns from the Commonwealth

Bank's move is that if home

loan rates are increasing,

shoppers will put their wallets

away. Right now, consumer

confidence is increasing. What

we need now is the positive

messages from Government and

also other corporates to

maintain that good consumer

sentiment. Any bad news associated with interest rates

or a reduction of cash in the

system is a negative to

business conditions and also in

particular, retailers. For now,

business has its fingers

crossed the other big banks

won't join the Commonwealth in

sending negative messages of

their own.

Over the weekend the G 8

Finance Ministers met in Italy

and talked about planning exit

strategies to wind back their

economic stimulus condition.

Amid growing though still shaky

confidence about the prospects

of global economic recovery.

Now, the leading emerging

market economies are having

their turn. Tomorrow, Brazil,

Russia, India and China -

together known as the BRIC

countries - are holding their

first summit. The meeting in

Russia comes as the developing

world argues for a bigger say

in the running of global

financial institutions such as

the IMF, while the world

economy is expected to contract

this year, the rapidly

expanding BRIC economies are

forecast to grow a hefty 4.8%.

To talk about this week's

summit I was joined earlier

from our London studio by Jan

Randolph, the head of Sovereign

Risk at Global Insight. Jan Randolph, welcome to Lateline

Business. Good evening. Given

the times, the rise of the the times, the rise of the G20,

the agitation for a greater say

on the global stage, how

significant is the first BRIC

summit? It's the first time the

leading emerging markets have

come together and they're

looking for common interest,

but also interests that divide

them. But their main focus is the international financial order and the international

economic order. It doesn't

necessarily suit them, and this

is why they've held this very

first summit together to look

at ways to boost their

influence in institutions like

the IMF but also make proposals

about the financial economy,

basically. When you say the international institutions don't suit them, these

institutions like the IMF were

designed more than 60 years,

what do the emerging market

economies want? Well it comes

down to influence, and they've

realised that institutions like the IMF that have important

policy roles to play,

particularly in fighting

crises, the power structure

there reflects the share of

sovereign shareholders and that

is imprinted into the power

structures immediately after

the Second World War. Since

then, we've had the growth in

emerging markets, a much more influential on the economic

scene, contributing a lot to

growth over the last few years,

and some still contributing to

growth, like China and India.

And they're saying, well we

want more influence, and one of

the ways they've been looking

at that is buying up IMF bonds

which were denominated in the

special drawing rights and not

dollars, and they're going to

buy these bonds and become

important creditors to the IMF

and that might buy them

influence. And buying these

bonds at the expense of buying

US treasuries which, of course,

China has been so prominent in

its role in funding the US deficit? Yeah, I think we have

to read this strictly as buying

influence in the IMF. It's positioning themselves. It

really isn't an alternative to

the purchase of US treasuries.

The US Treasury market is so

much bigger. It runs into

trillons of dollars and what

we're looking at in terms of

bonds new issuance, it's token,

but it really represents the

BRIC ambitions within the IMF. At the same time, though,

how do you read the comments

not just from the Chinese but

also the Russians when they

talk about diversifying their

foreign exchange holdings and

when they talk about

potentially perhaps challenging

the US currency as the global

foreign reserve currency? Do

you take any of that seriously?

Is there any attempt to lessen

the power of the US currency? There's a certain amount of understandable

frustration on the part of

China, India, Russia and

Brazil. They're locked into a

system where they've grown

which has been very


dollar-influenced. 65% of all

foreign exchange reserves are

in trade, most international

trade is in dollars. We live

in a dollar world. They're

seeking ways of getting out of

that, but they're finding it

incredibly difficult. There

really isn't an alternative to reserve currency to the dollar,

except perhaps the euro. But

there really isn't any

alternative. If you build up so much foreign exchange

reserves there are only a

limited number of markets you

can invest in, and the

importance of the dollar is

ultimately a reflection of the

size of the US economy and it's

huge depth and breadth at the

financial markets. At the

centre is the US Treasury

market, the most liquid

financial market of them all

and really, there's no other

option for the time being than

the US Treasury market, but

they will be looking at alternatives on the side as

they emerge. But it won't

replace their investments in

dollar assets. And that money

that's invested in the US, is

it potentially at risk if this

massive deficit is not wound

down in a reasonable period of

time, if there is an inflation

surge? It's a good question.

It worries all creditor

countries - Germany at the G 8

conference this week, it's not

just China, the creditor

countries, being creditors,

they're worried about their

assets. If it's debt or bonds

then the value can be eroded

through inflation. What we're

seeing in the West, in the UK

and the US, is basically an

orthodox monetary expansion

which the Germans have pointed

out could potentially lead to

an inflation surge if there

isn't an exit strategy to draw

back the ballooning balance

sheets of the US Fed and

others. They're obviously

worried about that. Their

assets, their investments are

at risk from inflation and

that's why they were keen to

make sure that there are exit

strategies as part of a

contingency plan once all this

stimulus is withdrawn. But

that's not going to happen any

time soon. We're still, the

Western economies are still

contracting. They're just contracting at a slower

rate. If we go back to where we

started, this first BRIC summit

tomorrow, if these four

emerging market economies do

get together, do decide to buy

even more IMF bonds, do get a

bit of cloud, would it really

make a difference? Will they be

able to within the context of

the IMF challenge the

traditional power structure

which revolves around the US

and Europe? They want to is

increase their influence. The

IMF is obviously delighted with

the extra money, ammunition it

needs to fight crises where

they may emerge. It is part of

their growing influence.

They're staking their ambitions

in institutions like the IMF

and World Bank, and they're

putting down the money now.

They're buying IMF bonds.

Eventually they may reopen the

question of sovereign

shareholderships within the

IMF, but that's a very... it

can create a lot of conflict,

and tenseness. But there is a

lot of sympathy for the fact

that, you know, the likes of

India, China, Brazil are so

much more important in the

global economy and they should

have their fair share of

influence within these

institutions. Jan Randolph,

many thanks for your

insights. Thank you very much.

A look at tomorrow's business


A look at what's making news

in the business sections of

tomorrow's papers.

That's all for tonight. The

FTSE is down 78 points or 1.7%.

The Dow has opened down 121

points or 1.3%. I'm Ali Moore,

goodnight. Closed Captions by CSI

morning from a friend of mine I got a phone call earlier that

at the hospital. who was doing some work She called a couple of us thought of people and I think she purposely environment and who were mothers she knew had a kind of a stable and that type of thing. of hurried voice was, And what she said was in a real kind baby. I'll meet you there at two." "We've got permission to see the

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Another baby has been raped, our country. highlighting a horrible reality in is just five months old. This time the young victim in this room. The baby girl was allegedly raped her 24-year-old mother. She was left here by her baby crying and bleeding. When the mother returned, she found