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(generated from captions) endorse ed big tax cuts was a misrepresentation? But he made another statement that

cancelled that out. The

governor has made a lot of

statements and if you look at

all of them you will find that

on balance he didn't criticise

the Government's tax cuts. In fact, my recollection is right at the end he said the

opposite. I'm focusing on what

he said to the parliamentary

committee. But he said later

on. He wasn't under any

pressure tore say anything

else. When you say "pressure"

nobody has put pressure on the

former governor. There was

criticism of him. People are

entitled to answer criticism of

them when those criticisms are

made. If you are talking about

the statements we made during

the election campaign, we don't

retreat from those statements

at all. I'm not talking about

what. This is what he said to

the committee, "I even see now

that my words are being used by

the Treasurer to say 'oh but I

was urged the do it by the

governor of the Reserve Bank',

it's a very funny game, it's a

funny game we are playing on

fiscal policy." It is a game. It's pretty serious, isn't

it? No, I don't think it is. I

think, Tony, he ace using

"game" not in the literal

sense, but the sense that

people often in a political

environment say they're in or

out of a game. You know that as

well as I do. He made some

other statements about tax cuts

that had the effect of

certainly in our view and in

the view of many others

neutralising those earlier

statements to the committee. The earlier statements were pretty

profound, weren't they? But in

politics -- Why do you think he

turned around and said the opposite of what he said to the

committee? I'm not here

answering for him and can I say

I think he was a first-rate

Reserve Bank governor and his

10 years at the head of the

Reserve Bank were very

successful and I think he's

entitled to see his 10-year in

a very positive light. However,

if you look at the totality of

what he said, including remarks

he made after those remarks

before the House of

Representatives committee, I

think you will agree with

me. It is very confusing when

you look at his statements and

they conflict with each other. I aenl not accountable

for other people's statements.

I understand that. I have to defend accusations made about

my statements. My position is

very clear on these things. Six

months to the next budget. 12

months or so to the next

election. Given all of this,

and given the original

statements that MacFarlane said

about the inflationary impact

of tax cuts, do you now rule

out, having tax cuts before the

next election? Tony, don't ask

me to start ruling things in

and out. I'm not going to do

that. What I am going to say is

this: the tax cuts we gave in

the last budget were

significant and they were not

only significant in size, but

the structural character of the

chains we made to the tax

scales offer really pushing

down the rates for the middle

and higher income earners to

put more incentive into the

scale and also providing relief

at the lower end and whilst I'm

not ruling anything in or out,

I'm making the point that the

tax relief we give in the last

budget, which was widely

supported and eminent ly

responsible from a fiscal point

of view, was significant. As to

what we do in the next budget,

Peter and I haven't even begun

to think about that. You are

looking at the forward

estimates. You must have a

clue. I look at them the whole

time. Tony, Tony -- Is tax

relief ecttively over because

of the inflationary -- Tony,

please, let's not waste time.

This is a game. Try and get me

to --

governor said - it's a That's the former Reserve Bank

game. I'm making a comment on

your question. It isn't a game to the people who are looking

for tax cuts and it won't be a

game -- I think people

understand -- If it causes

inflation. Tony, I think the

people understand that in the last budget significant tax

cuts were given. I'm not going

to start speculating about next

year's budget, but I do

emphasise the tax are leaf in

the last budget was very

significant and it was long

term and very welcome by the

Australian community, as were

the his store ic reforges to

superannuation. Prime Minister,

we will have to leave it there.

We're out of time. We thank you

very much for coming in to join

us tonight. Good to be here.

An Aboriginal community if

Western Australia has won a

landmark native title claim in

Federal Court covering the

entire metropolitan area of

Perth. Ate es the first claim

to have been granted over a

capital city T finding

recognises that the Noongan

people maintain a connection to

the land. They will be allowed

to live on the land and

conserve the land's natural

resources but Justice Murray

Wilcox told the court the

native title decision should

not be seen as a pos of gold

for the Klim mants or disaster

for the rest of the community.

A native title determination

does not affect freehold land

or leasehold land. It cannot

take away people's back yards. The vast majority of private

land holders in the Perth

region will be un affected by

this case. Today's finding is

expected to be used to

negotiate a wider claim. The Western Australia government

says it doesn't accept the

decision. The racing car driver

Peter Brock has been given a

moving forewell in Melbourne.

Thousands of fans flooded into

the heart of Melbourne, along

with sports personalities and politicians for a state

funeral. People across the

country watched live television

coverage of the event. Chris

Clark reports. Life in the fast

lane this was a day that

celebrate ed Peter Brock's life

in quite different ways. In

Melbourne, they came in their

racing colours to St Paul's

Cathedral. Sometimes with their

own home-made tributes to their

hero. There was the grand your

of a state funeral where

family, friends, politicians

and sports men and women came

to pay their respects. On the

mountain where he made his

reputation, a tribute to the

man they called "Peter

Perfect". For a generation of

Australians who saw him win

Bathurst nine times, the sight

of him flying around this

circuit was an inspiration. It

wasn't just Bracks Brock the racing driver who was

remembered today. It was a

privilege to be a friend. Rest

in peace, Peter. There was his

work for children through the

Brock foundation. His

commitment to environmental

causes and his interest in

Aboriginal Australians. Peter

Brock's daughter, Alexandra,

offered her own unvarnished and

affectionate portrait. Dad was

a fallible man. He could piss

you off, he could rub you the

wrong way, but he could also

make you feel so special and so

happy. Those who couldn't get

into the cathedral could watch

everything on a big screen

across the world. It seemed to fit the tone and sentiment of

the day perfectly. Everyone

that spoke to him or met him

came away feeling like 10ft

tall, mate. He made everyone

feel big. He will always be

remembered for the things he's

done - his brook foundation and

racing career. A state funeral

is a formal occasion but there

is nothing stuffy about this

and according to those who knew

Bracks Brock well, that's just

the way he would have wanted

it. I would like to say what a

tremendous privilege this has

been to speak here today, so

thank you to the family. To

Peter, thank you very much for

truly enhancing our

lives. Brook Brock won fame and

respect not just because he was

a brilliant racing driver and

today Australians honoured him

in their own fashion .

Time for a quick look at the

weather.

You can also download individual stories or play back

the entire program from the

site, which also contains our

archives and transcripts. But

for now it is over to 'Lateline Business' with Ali

Moore. Thanks, Tony. Tonight James Hardie directors argue

the case for doubling their

fees. Australia's grin growers

in for another tough season and

the boss of JetStar predicts a

rosy future for his airline. I

hope that some day we will

equal the size of Qantas and

both of us have a good profile

in Australia, domestic market and international market.

To the markets now and local

stocks opened brightly, but

fell back later in the day.

Worries about bank margins, one

factor behind the falls. Both

the All Ords and the ASX 200

ended the day down. Japan's

market re-opened after the long

weekend and had a flat day.

Exporters were up, but the drug

sector was lower. The volatile

Hong Kong market lost some of

yesterday's gains on profit

taking and the Dow of course

opened shortly at last night's

close of 11,555. All eyes are

on the latest economic news out

of the US tonight with the

release of the producer price

index and data on housing

starts. Prices have edged up

less than expected, while the

pace of home building has

fallen more sharply than

forecast. The figures of course

come on the eve of tomorrow's

meeting of Federal Reserve on

interest rates. To look at the

numbers and what they mean we

are joined now by David Jones,

chief market strategist from

CMC capital markets. Thanks for

your time. Pleasure. If we can

go straight to the housing

starts and the producing price

index, both of which were not

quite as were expected. No,

that's very true. I think the

PPI number came in, producer

price rose 3.7% year on year

and matched the rise we saw

back in July. We had a 0.1%

rise on today's figures. But

the market was expect ing 0.3%.

The housing starts were down

6%, which again was more than

forecast. So all of this news

is good for those market

watchers who were concerned

about where inflation was going

to go because it does suggest a

moderate rate of inflation at

the consumer level. Nothing to

get too worried about which of

course will have an impact on the announcement tomorrow from

the states about the interest

rates so the parents have taken

the view this will back up the

argument for not raising rates

in the US from the numbers

we've seen today. It would add

to the argument or concerns

about a hard landing for the US

economy. There is that, too. As

we know with markets there's

always two sides to the coin

and I think the way the market

has been looking over the past

few months it has been taking

the view ta inflation seeps to

be under control. We've seen a

bit of short-term strength sort

of pre-opening? The US markets

on the back of these numbers,

but as you say maybe it means

there are worse things around

the corner. If we take a step

back and look where the markets

are trading we've seen good

recovers over the past couple

of months, but the US markets

aren't too far from the highs

for the year we saw earlier in

the year that they plunged from

in May. Maybe people will take

the view with the inflation

stuff in the price maybe

markets will weaken. We need to

get tomorrow's fed announcement out of the way and hopefully thing also be clearer from

then. What is happening on the

FTSE? It was down before these

numbers came out. Yes, it's

been fairly weak all day. It

sort of stabilised when the

numbers came out, but it has

been in reverse for most of

today and we are seeing most of

the FTSE 100 stocks under

pressure. A lot of the

commodity companies Rio Tinto,

BHP which held the FTSE up and

dragged it higher, they've been

under a little bit of pressure

this week. Things aren't

helping there. If we take a

step back and look at the

bigger picture tor the UK, the

recovery that started in union

is still in police. There still

may be upside to come but the

question for all of these

markets at the moment, medium

term sit positive, but how much

is left really after then? The

next couple of weeks there is

scope for more strength but

towards the end of the year,

it's a bit of a tricky one at

the moment. Indeed Asotasi you

say we have to get over the Fed meeting tomorrow. David Jones,

thank you for joining us.

Back home and James Hardie

has come in for strong

criticism over plans to double

the fees paid to its directors

while the compensation package

for asbestos victims remains in limbo. Chairman Merideth

Hellicar has defended the

increase, saying the long-term

future of the company and the

compensation deal depends on a

strong board. Phillip Lasker

reports.

Five years on and the voices

have not been silenced.

Asbestos victims groups were

angry that James Hardie was

proposing a 1380% rise in the

directors' fees pool before a

long-firm compensation scheme

had been finalised. I am

immensely disappointed and frustrated by this and concerned that this continues

to cause un certainty. Less

than 50 investors attended

today's shareholders'

information meeting. Chairman

Merideth Hellicar says tax

issues continue to delay the

implea mentation of a long-term

compensation scheme. But, she

promised the company would meet

all current claims.

Shareholders were told that an

increase in directors' fees was

needed to attract talent, securing the company's

long-term success for both

investors and asbestos victims. Perhaps with the

shadow of what's happened in

the past they perhaps should

have been a bit Morales red. We

are somewhat depleted as a

board and we need to ensure

that we have sufficient

directors to lead the

company. And there are reports

that some directors who are

leading and have led the

company, may be investigated by

the corporate regulator ASIC in

connection with James Hardie's

controversial move to the Netherlands. ASIC made contact,

as I understand it, with all

directors and officers and

advisers associated with the

company during the 200-2003

period, including myself. The

company itself is also

beginning the question the

long-term wisdom of moving to

the Netherlands since most of

its income is made in the

United States. The Netherlands domicile looks less optimal for

us and we are reviewing

ourvation. James Hardie says it

won't mean changes in the

short-term. Phillip Lasker

reporting. The judge hearing the Seven Network's case

against some of the major media

players has asked why the

channel didn't ask offer money

to begin sports events. Seven

is arguing that it competitors

breached the Trade Practices

Act by colluding to put C7 out

of business. Sue Lannin with this report.

It was the Seven Network's

ticket to Australia's pay TV

market, but C7 closed in 2002

and now seven is suing other

media players alleging they

plotted to bring the channel

down. In court, British QC

Jonathan Sumption returned to

sent's core arguments that its

rivals devise ed a plan in 2000

to win the rights to the AFL

and NFL for tox tell. He said:

News Limited, PBL and Telstra

, the owners of Foxtel have

denied the existence of any

plan. Mr Sumption told the

judge Ronald Sackville it was

anti- competitive for the

Foxtel consortium to have bid

for the AFL rights after

winning the NRL rights in

December 2000. Justice

Sackville told Mr Sumption it

seemed cure use that Seven's

rivals should withdraw from the

bidding process for AFL rights when Seven had the opportunity

of making a higher bid. Mr

Sumption said under the Trade

Practices Act allowing the

consortium to bid would lessen competition. But Justice

Sackville said that would deny

the AFL the chance to get the

highest price for its product.

The judge asked why Seven

hadn't offered more money for

the rights, instead of bringing

the case to court. He asked if

the outcome was the result of:

Mr Sumption argued ta

regardless of the fall of any

parties, the result of the

process reduced competition. He

rejected suggestions that C7

failed because it was inferior

to Foxtel, alleging that senior

News Limited executives created

a strategy to put the channel

out of business. Sue Lannin reporting.

Australia's destroy winter is

set to cost grain growers

billions of dollars. The latest

official crop forecast is a

bleak one, predicting winter

production will fall by more

than a third after a parched

August and, as Craig McMurtrie reports, things aren't looking

much better for summer.

A sea of canola yellow on a

property on the south-west

slopes of NSW, but Neil McColl

is watching his crop go

backwards. Best case scenario

we think now probably

half-budgeted yields. Across

the country the quarterly crop

forecast paints a dim picture.

A bone-dary winter pain as

bleak picture. Wheat is

expected to be down 31% and

canola 46%. It is it lowest

level in a decade and that's

assuming at least average

spring rain. We don't get the

rainfall then the final crop estimate will problem by come off a bit of what it is

now. The National Farmers'

Federation calculates it will

cost the nation over $3

billion. It's not just farm

families that are doing it

tough. It is regional Australia

and Australia nationally. The

report says there's been a

sharp declain in Victoria with

crops under extreme stress,

below average winter rainfall

is costing growers across NSW and Western Australia's grin belt. Sit patchy in Queensland

and a promising start in South

Australia has come unstuck

after a record destroy

August. One of the worst

continuous periods that I've seen. There's little prospect

of relief for summer crops

either. A continuing water

shortage means the pore casters

for areas planting rice to drop

57% on last year with cotton

down 31%. The mood of growers

sun likely to improve when 18

countries sit down in Cairns

tomorrow to try and save talks

to cut farm trade barriers. The

European Unions chief

negotiator says Australian

hopes of rescuing the "Doha

Round" are "undo-able" and he

says that John Howard should

take a tougher line with

America. We are used to

rejection by the Europeans. For

farmers, good news like rain is

in short supply. A new survey

of the borrowing intentions of

more than 3,000 businesses of

all sizes has shown small er

companies are the Powerhouse of

the Australian economy

according to the authors of the

report their confidence in the

future is likely to prompt Federal Reserve to raise

interest rates once again.

Andrew Robertson reports.

Businesses outside the top 500

listed companies account for

three-quarters of economic

activity and the study

conducted by JP Morgan and lead

ing market research firm East &

Partners found that the smaller

companies are planning to

borrow heavily in the coming

six months as borrowing by the

big companies tapers off. We've

had a boom in investment in the

past five years and that is

peaking out and the smaller end

of town is picking up the slack

which is more like the

manufacturers and the retailers

and construction sector, which

is not really related to mining

and not as exposed to the

global economy. Worry forgave the Reserve Bank are company's

pricing intentions. Only 20% of

top 500 companies are planning

price increases in the next 6

months. That rises to 75 %

with medium and smaller-sized

companies and for in the

planned lift in prices will be

substantial. According to

Stephen Ryan, those figures

mean the RBA will be rising

rates again. The inflation of

pressure is picking up. The

housing market probably

bottoming out. Globally there

is inflation pressure and we've

already got inflation

domestically at top of the

RBA's target range. While they

look ready the raise interest

rates again, the banks are

fighting hard to win back

customers in the lending

market. It's a campaign that

sees lending margins continue

under pressure, but on the

other side of the coin,

transaction charges are

rising. However, with so much

competition, the battle for

business customers is a tough

one. They want a real live

business banker at the end of

the phone or at the end of

email who knows their business.

They don't want to have to

re-educate their bank about

what they're in business for.

They want products that work

simply that deliver value for money. Despite those pressures

t survey found that banks are

not significantly lowering

their credit standards for

business lending, however one

worry for banks is their loans

to SMEs are being churned more often as a result of the

increasing use of

brokers. Andrew Robertson

there. To the steel industry

and OneSteel and Morgan sate

are fully committed to their

proposed merger after the ACCC

agreed to another delay in the

merger timeline. The company

say it's a complex transaction

and more work is needed to

address the issues raised by

the competition regulator. The

ACCC was due to give its

decision earlier this month.

Australia's low-cost carrier

JetStar is two months away from

launching its international

operation and there's plenty of

ambition about just where the

airline may end up flying.

JetStar is wholly owned by

Qantas and with higher fuel

costs and tough competition in

the industry, it is JetStar

which is increasingly taking up

Qantas routes, either former or

current. To find out how, the

international plans are

progressing, I spoke earlier

this evening to Alan Joyce, JetStar's chief executive from

our Melbourne studios. Gist

Joyce, thanks for joining 'Lateline Business'. Great to

be here, Ali. If we can start

with the international expansion, eight weeks away

from launch. You've still got

to get the right approvals. Is everything going according to

plan? Yeah. We're on track,

Ali. The process we're going

through, which is the normal

process to have a variation to

what is called your AOC to

allow you to operate the long

haul aircraft involves us

getting approval for manuals,

approval for flights and the

airports. We're on track in

that process and we're hopeful

to have the variation of the

AOC in time for our first

flight on 2 3rd

November. You've announced

services to Thailand, Vietnam,

Indonesia, Honolulu and Japan.

Where next? We are looking at

destinations, other

destinations into Asia. We are

very keen at looking at further

ex pannion of the Jap mees

market and longer term when we

get the appropriate aircraft to

fly to Europe and North America

and we think there's real

potential for JetStar to look

at the markets that Qantas has

pulled off over the last while

and try new markets lie hoechy

minute city that Qantas hasn't previously operated

on. Domestically, the latest

route you've taken over from

Qantas is Sydney-Townsville.

What else will you take from

Qantas? We believe the domestic

situation is a very interesting

one. Both brand s are doing

well domestically. The two

knife brand strategy has worked

exceptionally well and Qantas

has grown significantly on the

domestic operation. It's not

necessarily a replacement. It's

never been a replacement

strategy domestically. We

always believed it was a

complimentary strategy. You say

it is not replacement, but in

fact you replaced Qantas on

that Townsville route. We did.

That Townsville route had a

high level of leisure content

on it and when you look at the

Qantas network as it stands

today they are producing a very

good result, very good profits

on it and the Qantas brand has

a yield premium over JetStar

and over Virgin. That's quit

significant. But you will

continue to replace Qantas on

leisure routes, won't you? Ever

Dixon has made that very

clear. When Qantas is not

making any money on them. In

the domestic operation at the

moment Qantas's operation is

performing very well even on

leisure markets. So we see

growth for both carriers for

both. How much bigger will

JetStar be in, say, five years

time? It is actually interesting. Today we are three

times bigger than when we

started back as the original

Impulse space and in 2009 we

will be three times bigger than

today because of the long-haul

operation. In total over a 6 or

7 year period JetStar will have

grown by 10 times its original

size. Can you see a day when

JetStar will be bigger than

Qantas? I think our two-brand

strategy has us with both

brands growing and I hope that

some day we will equal the size

of Qantas and both of us have a

good profile and - agree

profile in Australia, domestic

market and international market.

Doesn't logic dictate you

willfully where it is more cost

effective and costs are only

going up in this industry

around the world. Doesn't

logic dictate that you will get

bigger and eventually have

potentially more routes than

Qantas? There is a potential

for that. You look at the

international market and Qantas

has a 30% market share. So

there is 70% of the

international operation flown

by other carriers. That gives

us a lot of potential to go

into those routes. They have

great growth opportunities for

this organisation and who knows

where that could take us. Would

you like to see JetStar hived

off, separately listed? Well

ta,'s an issue for our

shareholders. I think we are

proud to be part of the Qantas group. We think there's a lot

of advantages with being part

of the Qantas group. Can you

see any veins of being

listed? I leave that for our

shareholders and you can

probably ask Geoff that

question at some stage. You are

happy to sit on the fence? I'm

happy to sit on the fence. It

is always a dangerous spot but

that's where I am happy to

sit. As you said you're

significantly lorer cost than

Qantas but profits and yields

were both down. You haven't

been doing as well as your competitors over Virgin Blue.

Why the squeeze and what's been

happening in the first 3 months

of this year? Yeah, well, I

think you have to compare

apples with apples in terms of

o the financial prps. JetStar

have operating leases which are

debt funded so any contribution

we make go directly to

shareholders' funds. It is not

covering any equity investment

in the company. If you look at

the route by route comparable

when you consider that JetStar's predominant

domination is on leisure

routes, our costs are lower

than Virgin and revenue is Pret

write much comparable. How is the business tracking for the

first 3 months of this year? We

just published the July stats

as an example and that was a

fantastic month for JetStar. We

had the highest G factor in

history. You know about August

and little bit of accept, is it

just as strong and maintaining

that strength? Well t August

stats and September stats we

obviously were publicly listed

as part of the Qantas group and

those stat also be published in

due course. We are fairly

happy with how robust the

domestic market is at the

moment. Alan Joyce, thanks for

joining us. Thanks, Ali.

For a closer look at trade on

our market today, I spoke

earlier to Tom Pietrowski at

Commsec. Tom Pietrowski, thanks

for talking to us. Shares

closed lower at home, despite

some early begins. They did,

AliN the early part of the

session the ASX 200 was up by

about 25 points but actually

ended up at its lowest levels

of the day down by 16% or a

third of a per cent. Part of

the reason for that is today in

Singapore the head of the IMF

indicated that if it wasn't significant progress being made

on global trade discussions,

that this in the broader macro

picture could hamper global

growth prospects. So that does

seem to be at odd was the

comments out of the IMF last

week when the group said that

they expect 2007 to be another

strong year of global growth.

In any case, it certainly does

indicate how fickle the

sentiment is as far as the resource sector was concerned

because the early gains we did

see in mining stocks were

raised rather quickly as soon

as the stocks hit the wire

services. You said fickle, it's

almost an understatement to say

this is a very twitchy

market. It is. There are a

number of things driving that.

I suppose the volatility in commodity markets is at the

centre of that but concerns

about whether or not the US

economy is going to come in for

a hard or soft landing is

certainly essential to those

concerns as well. It's still a

watching brief as far as that

is concerned and it probably

attaches a great deal of

meaning to this week's decision

on the part of the US Federal

Reserve. The markets are

expecting them to level

official interest rates on hold

but certainly that accompanying

statement will be central to defining sentment in the

markets forrer the next couple

of days. Indeed, given the US

and the talk of the slow down

in the US housing market it is

interesting to note that James

Hardie went against the trend

today? That was a meaningful

improvement aLi. Because last

night optimism in the US home

building seccor fell to its

lowest level in 15 years. For

James Hardie today which

improved by 2%, that was driven

by the fact that the company

said it was happy with the

market's consensus forecast and

expects the US housing market

to slow rather than crash and

it continue s to expect an

extension of its market share

in the US. So, that was the

reason that hard hard shares

improved but on the counter

point to that we saw Rinker

shares fall by the better part

of 2% today. Tom Pietrowski,

thanks for bringing us up-to-date. One stock not

traded on the market today was

Mayne Pharma whose anti-cancer

drug was approved yesterday by

the US drugs administration.

The company can asked for

trading in its shares to be

halted until at least Thursday

saying it was "in a discussion

on a potential transaction".

Market talk has Mayne has a

takeover target. To the big

movers of the day and top stock

was Excel Coal climbing 14%

after the big American company

Peabody Energy raised its

takeover bid to $2 billion.

Vision Systems which fell

yesterday when the US company

Ventana said it would not

increase its offer for vision,

clawed back 5%. Ventana now

says it reserves the right to

make a new bid. Gold miner

Kingsgate Consolidate Rose

again, up almost 4%. Shares in

Macquarie gained almost 1%, a

head of its post market pore

cast of a rise in first-half profits. Analysts had been predicting a slightly higher

begin. On the down side, AWB

shares took a tumble after a

Federal Court judge said

evidence before him showed at

least one transaction with the

Iraq grin bird was an attempt

to deceive the United Nations.

Its time in court has not

helped network 7's shares. They

fell by 7%. The Australian

dollar is lower. At the moment

it is trading around 75.35.

Currency has improved against

the Euro. Gold is down 1%, a

head of tomorrow's meeting of

Federal Reserve and oil has

slipped again, trading around

US $63 a barrel.

Now for a brief look at

tomorrow's business diary. The

Westpac Melbourne institute

index for economic activity in

July is due. It releases the

September skilled job vacancy

index. It is day one of the

Merrill Lynch in New York and

in New Zealand, it's the first

day of the trans-Tasman

business leaders conference.

Before we go, a look at what

is making news in the business

sections of tomorrow's

newspapers. The 'Age' reports

that Pacific Hydro may aban

don't hundreds of millions of

dollars of wind power products

in Victoria. The "Australian

looks at the potential for

Macquarie Bank to earn its

first billion dollar profit. The Australian financial review

has the potential $2 billion

for main farmer on its front

page while the 'Sydney Morning

Herald' focuses on Peabody

Energy lifting its offer for

Excel Coal. That's all for

tonight. As I leave you, the

FTSE is down 35 and the Dow has

been jumping around on early

trade, but it is currently up

around 2 points. If you want another look at any of

tonight's stories, you can

visit our website at:

You can also download the

entire program. We'd love to

get your feedback. Our email address is:

I'm Ali Moore. Goodnight.

Captions produced by Captioning and Subtitling

International.