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(generated from captions) peak union body says for those

who speak out against the

regime punishment is swift. On

Saturday morning there was a

police officer waiting for me

telling me that they wanted to

see me at the police station at

the airport. So I went in and I

asked what was they want me

for. The only reply I got was

orders came from the top. Our

job is to come and arrest

you. How many days were you

held by the police and at what

stage were you given any legal

representation or charged? 10

days, no legal representation.

Just can you check the date for

my next court appearance? The

52-year-old is a former Fijian

Labour Party MP and critic of

some of the interim

Government's many decrees. With

the decrees that were

introduced they are trying to

basically kill the union

movement in Fiji. For a decree

that they put down some union

organised union basic been

removed from its roles of

looking after the interests of

workers, particularly with Air

Pacific and other statutory

bodies that we have in this

country. The interim

Government says businesses

critical to Fiji's economy need

to be protected. It's accused

the country's uni-Yoon ion

movement of being fat cats. If

you look at the history of

trade unionism in this country

most of these people are going

out talking about trade

unionism, they in fact sit in very comfortable positions.

Most of the trade unions have

only been strong in State-owned

enterprises, they've been very

strong in government-owned

enterprises or in fact the

civil service but where a lot

of the exploitation takes

place, for example, it was

highlighted to me is back in if

retail sector in previously in

some of the mining operations,

in other areas where you have

low-paid workers there is an

absence, there's a deafening

absence of trade unionism. Dan

Urai's bail conditions include

reporting to Latoka police

station every night. What kind

of jaim term could you

face? Life imprisonment because

the charge comes under the

committing of treason. When

Commodore Bainmarama lifted

Fiji's public emergency

regulations in January it came

with a warning. We must all

remember that public order,

protecting the vulnerable and

safeguarding the economy will

always be paramount. At the

same time a public order

amendment decree was introduced meaning people could be held

for up to 16 days without

charge. After that they have to

appear in the court. Now,

Fiji's not alone in this

respect. There are many

countries that do that. In fact

in USA, you know, there's an

indefinite period should the

Attorney-General, the President

of the USA decide to hold a

person there's no prescribed

limitation to that. Many other

countries do that. And even

the churches have to apply for

permits to hold meetings other

than services. Horses for

courses. You have to realise

the situation in Fiji and if

you see the actual focus of the

amendment decree it's to do

with things like ethnic, religious and racial vilification which Fiji has

been plagued with.

Prodemocracy activists like

Virisila Buadromo from the women's right movement is

calling for the decrees to be

revoked. We need to tell the

State that you've said we're

going to have elections in

2014. We want to see that

process happen as well.

However, we would like to see

that process to be a legitimate

process and for us that mean

asprocess that is supported by

the people, that's driven by

the people and for that process

to be genuine there needs to be

the lifting of or the repealing

of certain laws which are

limiting people's ability to be

able to express themselves

openly and without fear. At

the same time Fiji's emergency

rule was being lifted, former

MP Mere Samisoni was arrested

and held in a cell for 5

days. I didn't expect it. I was

coming off the plane and I was

approached by the police and the lady superintendent, the

lady inspector, she just said

very quietly "We are arresting

you and you will have to come

with us." It came as a shock

but I contained myself. Why was

she held for 5 days? What kind

of a message does it send when

a 73-year-old woman, a former

MP, is held without charge? I

understand in Australia you

have people of 75 years been

charged with paedophile. Age is

not of significance. If a

person has allegedly committed

an offence. Let's not get

emotional about this. The point

is that if a person has

committed or alleged to have committed an offence under the particular law they will be

charged with it according to

that law. The 73-year-old

business woman is charged with

incite - inciting political

vie lents - violence. There are

20 Fijians currently charged

with treason related offences

and if they are convicted they

face hefty prison terms. Critic

of the interim government say some of those cases have been

brought to make it possible for

people with strong or opposing

views to run for parliament in

2014. In the meantime, Frank

Bainimarama and his senior

colleagues haven't ruled out

standing in the elections.

Paradise is a long way from

being politically regained.

The Queensland Opposition has

raised questions about why the Bligh Labor Government is

refusing to release a report

into the wild rivers

legislation. Last night Cape

York land holders told Lateline

the legislation is too complex

and confusing now the

Queensland Government is

refusing to release the 5-year

because of the State review of the legislation

election. Well we're in care

taker at the moment so of

course I can't take that report

to Cabinet and it can't be

presented to Parliament but I'm

sure it's on track to make sure

that I can present it to my

Cabinet colleagues as soon as

hopefully a Labor Government is returned and obviously it would

be taken to one of the earliest

Parliaments we can. But it is

still being developed right

requires the Government to now. The Wild Rivers Act

report 5 years after a river is

declared. The report was due to

be released on February 28.

Opposition environment

spokesman Andrew Powell says

the Bligh Government is acting

as if it has something to

hide. Now to the weather:

That's all from us. If you'd

like to look back at tonight's

interview with John Lee or

review any of Lateline's

stories or transcripts visit

our website. You can also

follow us on Facebook and on

Twitter. The Business news is

coming up with Ticky Fullerton.

Tony Jones will be in the chair

tomorrow and I'll see you on

Friday. Goodnight. Closed

Captions by CSI This Program is Captioned

Live. Tonight - it's Live. Tonight - it's a growing business. Australian farmers

are cashing in on the best are cashing in on the best year

in more than 3 decades. We're

actually pretty bullish actually pretty bullish about what will be going into the ground here in Australia and what

this rain, while it's causing a lot of disruption and lot difficulty for people at the

moment will be a good thing for

the crop. I'm Ticky the crop. I'm Ticky fullerton,

and you're watching Ty Ty The and biz Business.

Flood waters have been on the

rise but so have exports as farmers reap the rewards. So biz Business. it's mostly good news down on

the farm as we talk to the the farm as we talk to the boss

of Graincorp. The tipsters had

it right, rates again on hold of

for a second month as the of

global gloom eases. And global gloom eases. And toy

story, it's not all fun and

games for retailers as online

sellers target their sellers target their business.

First a quick look at the

markets where markets where the negatively

lead from overseas and big

falls across the region set the tone. China was still on falls people's minds and the

Australian market fell with Australian market fell with the

A who's who of agricultural


experiments have gathered in

Canberra for Bureau of Agricultural and Canberra Resources Economics and Sciences conference. Things are

looking promising for looking promising for producers

after a decade of drought after a decade of drought the

heavy rainfall of recent years

means water is aplenty and

commodity prices are solid.

commodity prices are solid. And developing countries are keen commodity prices

to snap up our exports as Emily

commodity prices

Stewart reports from Canberra.

After years of struggling, After

profits are ripe for the

picking. It's good news to be

a farmer across Australia. Certainly for Australia. Certainly for the

first time in 30 years we've

seen positive farm seen positive farm business

profits and positive rates of return across all states of return across

Australia and across all broad

acre industries. The acre industries. The higher

returns are due to good

conditions and solid

conditions and solid commodity prices. Moderate outlook for conditions

global economy underpin good value with fisheries and value forestry remains about $50

billion over the real term over billion over

the medium term. We sea the medium term. We sea the real values of ex permts being the medium

around $38 bling over the around $38 bling over the next

5 years. Exports are set to

jump because global food demand

is rising rapidly driven by the

growing middle classes growing middle classes in

India, China and Africa and

these countries aren't

producing enough food to producing enough food to be

self-sufficient. You're still seeing significant growth in self-sufficient. You're

demand for cereals or

demand for cereals or grains and particularly to feed demand

livestock in China but also for demand direct human consumption in

places like India and Africa. But even more so, you're But even more so, you're going

to see very dramatic gains in

demand for meats. This growth

in demand is a great opportunity for opportunity for Australian

farmers but it will put

pressure on prices. We pressure on prices. We think

food markets are going to be

tight for the future with food markets

higher prices. It does benefit

farmers and the big exporters farmers and like Australia and the like Australia and the US but it's going to be a big like

challenge for poor people in

developing countries. The developing countries. The two biggest uncertainties facing challenge for the agricultural sector are

climate and policy changes. climate

Australia's had its wettest 2-year period on record but 2-year there's prediction s of there's prediction s of more

dry seasons ahead. And farmers claim policies such as the claim

carbon tax and the

Murray-Darling Basin Murray-Darling Basin plan could

have an impact on future

production. But with the right conditions producers conditions producers are hopeful of many more bumper years ahead. And earlier years ahead. And earlier today

I caught up with Alison

Watkins, the chief executive Watkins, the chief executive of Graincorp, Australia's largest


agribusiness business and

grain handler. Thank you

grain handler. Thank you for

joining us down there. Hello,

Ticky. You talked today about

the opportunity we have given the opportunity

the global demand for wheat the global demand for wheat in

the next decades. You also

mentioned a grain growers mentioned

report which highlighted customer perceptions of variable wheat quality, delays variable

and lack of support from Australia and some customers Australia turning to Canadian or turning to Canadian or American

wheat. Can I ask you wheat. Can I ask you about

wheat quality first, is this

because farmers are because farmers are confused

about whether to go for yield

or quality? Look, I think we've gone through a period gone through a period of transition since the removal of

the single wheat desk and of transition

course the way we used operate course the way we used to

operate we just had via AWB one operate

seller of wheat to these customers. Now we've got many customers.

marketers of grain to marketers of grain to multiple

customers and some of those customers are definitely giving us the feedback that they're us not entirely comfortable with the way we've been the way we've been operating since the removal of the single wheat desk. Now, that's a since the

really important thing for us

as an industry to address and

one of their concerns is around

the supply chain and making the supply

sure that they can get sure that they can get really, really good levels of service out of the supply out of the supply chain. Now we

as operators of the supply

chain really want to make chain really want to make sure

that ourselves and our exporter customers are well positioned customers

to do that. Currently we have to do that. Currently we have a regulatory framework which is to do getting in the way. What getting in the way. What sort of problems are you facing? Well, very appropriately and understandably I think when the

single wheat desk was single wheat desk was removed

in 2008 the Government put in a in

framework via the ACCC that

required us to sign up to some

undertakings effectively as if undertakings

our port assets were declared assets. Now, those are quite assets.

restrictive and they

effectively mean that we effectively mean that we have to offer a one-size fits to offer a one-size fits all level of service to our exporter customers and they

make it very difficult for us

to flex capacity. So you've got exporter customers

to cater for a massive to cater for a massive cargill

and then a small farmer. Are

these restrictions these restrictions different to other ports? Yes, there's no to other countries that I'm aware

of that regulate their ports at

all. We as Graincorp have every other

incentive to serve these

exporter customers very exporter customers very well

because we have about 4 times

as much port capacity as as much port capacity as we need in an average year. So

we've got more capacity at we've got more capacity at our ports than you can poke a ports than you can poke a stick

at really. One of your slides

today shows that even companies

like Graincorp are dwarfed by we've got

the big multinationals the the big multinationals the Will

Mars and the Cargills. Why is it in agribusiness we haven't it been able to build a

multinational ourselves. We did

it in mining with CRA creating

Rio and creating Rio and creating BHP

Billiton? It's a very fair

observation and I think observation and I think it's

probably a legacy of the amount

of regulation that we did have

in our agribusinesses and the observation

whole agricultural arena was heavily regulated up heavily regulated up until the '80s when the Government whole

stepped in and took some stepped in and took some pretty courageous decisions. Now, I

think it's really think it's really important

that we make sure that our

Australian domiciled

agribusinesses today do have agribusinesses the best possible chance to succeed on the succeed on the world scale because as you're saying, the

agriculture is very much a

global business these days and

we're up against companies that

are 20 times plus our size. So

we don't need to impose we

regulation on our Australian

domiciled companies. domiciled companies. It's a

hard enough challenge a as it

is. Your growth is linked is. Your growth is linked to your farmers' profitability.

They've got the A dollar They've got the A dollar to deal with but they've also

goodnight the carbon tax. In

what way could a carbon tax

affect an individual

farmer? The carbon tax is definitely a negative for our definitely

farmers because while farming enterprises are such are not enterprises going to have the tax going to have the tax imposed

on them just yet, of course

there are many, there are many, many inputs that the farmers buy and the supply chain costs that ultimately end up on ultimately end up on the farmers' lap this will be

inpackteded by carbon tax. So we've done some research we've done some research that quantitifies the impact and we think it could be quite think

material say of the order of

10% or so for a typical farmer

in terms of impact on profit.

So it is quite So it is quite significant. Some of the Asian countries where we're seeing the where we're seeing the growth in population and affluence

we've got maybe a 5, 10, $15

per tonne cost advantage. We're we've

eating up some of that eating up some of that with things like carbon tax and the

Aussie dollar but let's Aussie dollar but let's make the most of the opportunity we've got. Finally, there we've got. Finally, there are rising concerns about foreign

ownership of land in ownership of land in Australia

and about foreign companies

locking up with supply locking up with supply chain,

do you share those views? No,

look, I don't. As a company do you

we've made a significant investment offshore in the last investment offshore

2 to 3 years and I 2 to 3 years and I think agriculture is very much a 2 to global industry. Companies like

us need to be able to operate 2 to offshore. Similarly other

companies need to be able to 2 to

come and invest capital here come and invest capital here in Australia and typically they

bring not only bring not only capital but a

lot of innovation, better ways

of doing things and I'm pretty sure that most sure that most commercial enterprises will act very rationally. At the end of the

day the concerns around food enterprises

security and people kind of locking up food or supply locking up

chains I don't think are

founded on fact. Nice to talk

to you in a good year for

cropping, thank you cropping, thank you for joining us. Thank you very much, chains I Ticky. Australia's Reserve Bank

is a picture of

is a picture of containment. Today it kept the official interest rate steady interest rate steady for a second month declaring the

immediate threat from immediate threat from Europe has alleviated considerably. immediate

But it warned inflation could

be a problem without be

productivity improvements. To

that end the Prime Minister has be enlisted business leaders to

help create a "seamless" help

national economy and repair

relationship damaged by previous battles. According previous battles. According to

the Reserve Bank the world is the Reserve Bank the world is a safer place. The global relationship financial markets have steadied and steadied now for 4 months, relationship

equity prices are rising, the

cost of money is starting to

ease after being quite

pressured earlier in the year. pressured And of course the The The And of course

potential for another shock potential for another shock out

of Europe haz hasn't gone away

completely. It's much less of completely. It's much less of a threat to the Australian growth

outlook than seemed back outlook than seemed back in December when the Reserve Bank

cut rates specifically cut rates specifically for that reason. So barring a global

cut meltdown rates will stay where meltdown rates will they are and that's despite they are and that's despite an acknowledgement of the painful they structural changes in the Australian economy because of

the mining boom and the strong they dollar. This is something they're watching closely because the high currency because the high currency is

very much playing a role in

allowing our economy to adjust

to this commodity boom without they're

creating inflation, without

creating high interest

rates. But at the rates. But at the same time the

RBA warned that without

productivity improvements

inflation and interest

inflation and interest rates

could rise. Firmses in parts of

the economy that have

the economy that have been

feeling the full effects of the

strength of the currency strength of the currency and changes in consumer spending

and borrowing patterns are and borrowing patterns are now

beginning in some cases for beginning in some cases for the

first time in over a decade to

look for productivity gains in

their own workplaces. And their own workplaces. And as Treasurer Wayne Swan played bad cop taking on the mining Treasurer

magnate the Prime Minister played good cop announcing played good cop announcing a

new business advisory forum at

the next meeting of the Council new

of Australian Governments aimed

at attacking productivity

problems. We want leaders of

the nation as they meet at COAG to hear directly from to Australian businesses about

what would make them what would make them more productive and what regulation what would

challenges they face. If this forum operates as proposed, it forum operates

holds the potential of adding

significantly to the social significantly infrastructure in Australia in

the form of dialogue between significantly

our private and public sectors

on matters of national economic

regulation and that is a good our private thing. So from the Reserve Bank

board to the corridors of

Canberra, there was contentment

all around, keeping it going is the challenge. We'll the challenge. We'll be following that story. The Bank

of Queensland has lifted its following

standard variable mortgage rate

by 10 basis points. The bank

says rising funding costs have

led to the increase which will come into effect on 16 March. says

The major four banks raised

their mortgage rates last month their after the RBA left rates on their hold. The local market was on their

the slide today. It the slide today. It wasn't

rates but China that weighed on

investors. I spoke to investors. I spoke to Marcus

Padley from patin Pattinson Securities earlier. Not Securities earlier. Not a good

day on the markets today. We

knew about China knew about China yesterday so

what's going on. Did the RBA

decision have any input? No, I decision have

don't think the RBA's really

the driver today. We could talk

about Greece which has still

got to complete their bailout

and we're waiting for Thursday

night to see if private bond got to holders have slotted in behind

them but the real story today got to

is still the China thing. is still the China thing. BHP

and Rio down 2.3% and if you


read across the news wires read across the news wires on

Asian markets it's all to do

with Chinese slowing groeted with and economists talking down China and that's really pushed China

it today. And I see Crown has China

officially disclosed its 9%

stake in Ekka through a

fiendishly complicated and

controversial although I

understand perfectly

understand perfectly legal derivatives transaction. Is fiendishly James Packer going to launch a

full takeover full takeover bid? He's

obviously keen and unlike when Kerry Stokes bought into WA Kerry News, Echo Entertainment are clearly not happy about it and clearly not

are going to fight it and

they're popping they're popping out statements

today alluding to how much

Crown owns and how no-one can today

own more than 10% own more than 10% without breaching some licences and own

this sort of thing. I think the

point is Packer is keen and point is Packer is keen and at

some point if it's allowed will

want to take over Echo

Entertainment. I was Entertainment. I was always rumoured from the time they Entertainment.

split off but I would say about Entertainment.

the price is already at a 25%

premium to the Crown price on

PE and half the yield so PE and half the yield so it's already discounting a bit. So for shareholders all you for shareholders all you need

to know is you're now betting

on a bid and it's no longer to know

really an investment. We

recently chatted about recently chatted about the

corporate note issues and the supervised ANZ issue that might corporate cause a bit of indigestion, cause a bit of indigestion, I was wondering how we're going? The post ANZ issues I

think have struggled a little

bit with indigestion and we had the energy issue where the energy issue where broke

rers putting in bid for stock

and the message for them is

they push down the time limit a

little bit, they said little bit, they said they

aren't going to extend it. I

think the message is there's a

creeping indijetion in creeping indijetion in the notes market. And anything

stock specific today? We were

noting in the dealing room that QBE was up whilst the rest of QBE the market was down. We spent

many years watching QBE going QBE down when the rest of the

market went up or when the

market went down as well but a market

lot of people are hoping this

is an inflection point. Frank is

O'Hall Ron leaving, four O'Hall Ron leaving, four major prockers have upgraded in the

last week, it's got a decent

yield, PE under 10, maybe at

last we're going to get last we're going to get this

one right but we'll see. Maybe, maybe. Marcus Padley, thank you one

very much for joining us. My

pleasure, Ticky. And to the pleasure,

other major movers on the other major movers on the local

Clouds of uncertainty

continue to roll over the solar

industry. The apparently

on-the-fly policy changes on-the-fly policy changes are

really spooking the clean

energy sector. The latest to be really

heat is the solar water heat is the solar water heater sector after the Government called an early end

called an early end to

household rebates. You would

assume living in a assume living in a country renowned for its excess of assume

sunshine would make the sunshine would make the solar

energy sector a sure bet energy sector a sure bet but those directly involved in the sunshine

industry say they've been industry say they've been burnt by successive governments

turning the clean energy policy

switch off and on. We call this

the solar coaster. It's the by successive

policy roller coaster ride policy roller coaster ride for solar energy. Relying on government policy, being at government policy, being at the

end of a long policy tail has end

actually been no fun for the industry. Industry representatives say the actually been constant change is particularly frustrating because the take up frustrating

of solar has nearly reached of solar has nearly reached the

point where subsidies won't be

needed at all. The

needed at all. The Melbourne Energy Institute estimates needed at solar energy will reach grid

parity in Australia within 4 years. It says pulling years. government support will delay the technology

the technology becoming self-sustaining. Abrupt changes

lead to boom/bust cycles for industry which of course industry which of course feed

through to the deployment and

don't allow us to get the scale through to

and the costs down on and the costs down on the installations. That boom/bust

cycle appears to be in cycle appears to be in danger

of becoming entrenched as

incoming governments also incoming governments also move

the goalposts. Last year the

NSW Government slashed the feed

in tariff with in tariff with devastating consequences for many solar

businesses in that State. We

call on governments across call Australia to put in place

Australia to put in place a

fair price for solar, to value

solar at an appropriate level, solar

pay that fair price pay that fair price and recognise the contribution that

solar is making to our overall electricity generation

electricity generation

network. While the Melbourne energy Institute energy Institute believes

feed-in tariffs were initially

too generous it argues they feed-in

should still sit about 50%

above the retail price for above electricity. Professor electricity.

Sanderford argues it's still

good value for the good value for the taxpayer dollar. It's an expensive way good

to generate electricity

compared to other schemes but

it doesn't need to it doesn't need to be delivered

over poles and wires and it's important to understand that

the cost of retail electricity is largely through is largely through the distribution and transmission, is

not through the generation. The

dangers of confusion dangers of confusion and uncertainty in policy are very

real for those at the front

line. Today we've got 400

people that showed up for work

to make heat, pump and solar heaters. We're

heaters. We're not exactly sure

what we're going to do with what we're going to do with the products they're making. Gareth heaters. We're

Jennings says his industry has

already seen demand halve in

Jennings says the past two years. It's quite

possible that this could drop

the market by another 50%. If that happens I don't think possible

there's room for the two there's room for the

there's manufacturers that currently

exist in Australia. John Grimes

wants greater industry

play is understood before consultation, so the state of

play is understood before the rules are changed again. We

need to work clobtively so that

need we land the aircraft of

subsidies, that we bring it down gradually over Government's renewable energy down gradually over time. The


certificate scheme is up for

review this year. review this year. Australia's toy business is worth over $2.5

billion a year to the local economy but even it has economy but even it has been

hit by the global economic

jitters. This week is the hit industry's equivalent of grand

final week with over 7,000 hit

retailers checking out the

latest gizmos at the Australian

toy fair. We sent along our retailers

biggest kid, Neal Woolrich biggest kid, Neal Woolrich to

have a look. Thanks to the

global economic downturn makers and retailers have had a global economic downturn toy

case of the wobbles in recent

years but here at the

Australian toy fair they're

hoping 2012 is the year this

bucks the trend and bucks the trend and puts a spring back in the industry step. The sector has gone bucks the

through tough times. The last bucks the

quarter of '08 was quarter of '08 was diabolical.

fortunate, we've seen some '09 was tough but we've been


growth in the years '10 and '11

and last year was a positive growth

year. With 7,000 retailer

looking over 1

looking over 1 million products

industry's most important event the annual toy fair is the

of the year. What it does, it's

one time of the year where we one

can actually put the trade

that's all the little toy that's

and see the offering from shops, they can come together

and see everyone. All the buying for

toys for the whole year is done

here. So the toys that you see

in store here or in this trade fair at the moment are in fact in

the toys that our kids will the toys that our kids will be playing with come Christmas

Australian Toy time. But Paul Hodgson from the

Australian Toy Association says St Biggest threat to the toy

industry, like many others, is

online retail. The local

retailers here can't in fact

compete with those online

retailers retailers due to the fact that

there's no GST on those and retailers toys predominantly are small

products and of course they're products and of course

under the $1,000 price point under the $1,000 price point to

attract GST. We supply a lot attract GST. We supply a lot of online companies. I think it online companies. I think it is

a way for the future and a way for the future and I

think companies like ours need

to be flexible and understood

it and be a part of its and not on the sideline. Another

concern for suppliers is when concern for suppliers is

retailers go direct to factrys

in China to purchase in China to purchase stock. To

lose one of your major

lose retailers as some of these

people here have lost them totally, would have a totally, would have a serious

effect on their business. Jeff

Hunter says the toy business is effect

like any other and

remain between suppliers and like any other and tensions

like major retailers. We're being

pushed very hard but it's been like

going on for some years.

They're just doing their job

and we have to and we have to accommodate

where we can and still make a living. So yes, we're always living.

going to be squeezed, going to be squeezed, every going supplier is in every

industry. Despite industry. Despite those

challenges, industry players

remain optimistic and the early industry. Despite

industry. Despite signs are that 2012 is looking

like a better year. I've always like a better year. I've

thought that toys are a

thought that toys are a little

bit recession proof, even in

hard times people will hard times people will always

look after their children. So although everything can

although everything can have

hard times I think toys, people

will want kids to have fun and

that's what it's all that's what it's all about. If

you've got the hottest toy in

the business no downturn will you've got stop you because the kids stop you because the kids have

the whinge power and of course that drives the industry and that

drives the parents crazy. But

it may not be until Christmas

when these eager spruikers when these eager spruikers know whether they've got the latest

craze on their hands or craze on their hands or one of

the thousands of products that

simply gathers dust on the

shelves. To the other stories craze on

making business news and Westpac

Westpac is slashing another 126

jobs to cut the costs of the

finance sector union says. The

union is furious over the plan

to sell send most of those

shore. Greenpeace is planning positions scrauf

to take on the coal industry in to

the courts. A draft the courts. A draft plan to

raise $6 million to disrupt

controversial mining projects controversial mining

with litigation was leaked to

the media. The

Association has branded the the media. The Australian Coal

campaign as economic

vandalism. And it's been

reported ticketing

reported ticketing giant Ticketek and All Phones Arena

are up for sale. It's part of Nine Entertainment which is Nine

owned by Asia Pacific.

owned speculation the Nine Network owned by Asia Pacific. There's

could also be up for auction as owned

CBC seeks to pays off debts CBC seeks to pays off debts of $2.7 billion. And before we go

a look at what's making

business news in overseas newspapers. The 'Wall Street

Journal' says a new breed of Chinese executive is pouring Chinese

billions of dollars into the oil industry. Recipe for oil success is seek minority stakes

play a passive role and in play a passive role and in a

nod to US regulators keep

Chinese personnel at Chinese personnel at arm's lentd from US advanced technology. Cotton prices are

up after India banned all

exports of the fibre for exports of the fibre for the

second time in two years

continuing a volatile run that second

has robbed even the Saviest

commodity traders. The move is

aimed at ensuring aimed at ensuring sufficient

supply of cotton for domestic text tile companies. And


Glencore CEO has hit back Glencore CEO has hit back at

criticism over the $100 million plus payout he will plus payout he will receive

through the commodity trading

giant's decision to pay a 10

cent asshare dividend. He cent asshare dividend. He says he's receiving the dividend

payment as an owner, not as an executive and it should not be executive

seen as part of his seen as part of his pay

packet. That's The biz. You can

watch the show Monday to

Thursday at 8:30 each night on seen

ABC 24. As well as after seen

'Lateline' on ABC 1. I'm Ticky seen

fuller tn. Thanks for goodnight. Closed Captions by seen CSI