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(generated from captions) unavailable Malcolm Rosenes was

unavailable for comment. The

State Government and the office

of public prosecutions also had

no comment. And in news just in

militants have fired a rocket

at a convoy carrying a senior

British diplomat in Yemen. 4

people were wounded and a car

was damaged. Britain's deputy

chief of mission was reportedly

in the car but he was uninjured.

TRANSLATION: When we heard the

explosion I went out and saw explosion I went out and

two men run aig way. They were

wearing traditional clothes and

head Gare and they did not have

the site we found the bag with their faces covered. Next to

the remains of a weapon

launcher. No-one has yet

claimed spobt for the attack but authorities recently

boosted security around foreign embassies after receiving information suggesting that Al-Qaeda

Al-Qaeda was planning an attack

in the country. Games continue in Delhi tonight

with one Australian wrestler

licking his wounds after an inappropriate salute in his gold medal bout an Australian

cyclist is also a target for Steve

Steve Monaghetti after another

salute but the gold rush has

continued in the cycling and at

the pool and Peter, we've got

to say that Geoff Huegill was

on the blocks just a short time

ago, one of the great comeback

stories, what happened? Yes,

you remember after Athens he

ballooned out, he became the party party boy, he was up to 138 kg,

he lost 45 kg to be here. This

was his moment just a short

time ago on the blocks in the

50 metres butterfly. The

champion, the world champion,

and down the pool he's in the mild there driving hard, he

looks as though he's going to

win but he getting nail on the line but Jason Dunn ford from

Kenya.

There was a thrilling finish

to the women's 100 free

Alicia Coutts collecting her

second gold medal of the games. And multiple Paralympic

champion Matt kaud Cowdrey set

a new world record in the 50

free style and Australia

continued its mopt yum continued its mopt yum with a 3-prong finish in the

breaststroke. Leisel Jones

successful there. Let's look at

the cycling w the absence of

the top ranked English cycler, the Australian team dominating the medals. They've won 6 of the 7 gold medals

decided. The timing of the

European championships has

given us one reason why the

strength team. It's an Olympic English didn't send their top

qualification event. qualification event. England

dominated cycling in Beijing

but Australia is just swamping

the competition and tonight it

was the same in several events

and there was a terrific

performance by Cameron Meyer,

the 22-year-old in the points race. 40 kmed km, he blitzed

the field and he is an out and

out champion, the 22-year-old

from Western Australia. Megan

Dunn from Dubbo the 19-year-old

won the women's points race, her

her first Commonwealth gold.

There was Anna Meares and her

team-mate in the sprint, they

too. Carly McCulloch. There was

an error from Shane Perkins and

salute this was in the ride off. His

salute which could cause him a

little bit of a problem. A

little bit

moment but on the track here is

how it looks at the main

Olympic stadium. It's a bit of

a shambles earlier today. They

Shane did manage to fix it up but

Shane perkin, that was in the KieronH ewas disqualified in

the the qualification and he rode

the minor race and he gave a

salute to the crowd when he won

that minor race, the 5th to 8th

placed ride off and now he's

going to have to face Steve

Monaghetti. What sort of salute

looking at those images. It was it? It wasn't clear

looked to be one of defiance.

He'd probably argue h was just

saying there you go, I've done

it. I should have been in the

final which was incidentally won by competitor. We've also seen won by a Malaysian

some bad sportsmanship, that

cost another Australian

competitor a silver medal in

the wrestling. He's just a huge

problem for him. He's got to go

home now with nothing. That's

right, Hassane Fkiri, a

36-year-old former Olympian,

plenty of experience, he showed

his frustration to the judges,

now he faces some community disrespect to his opponent

service when he gets home after

this gesture to the judges and in

in the gold medal bout of the wrestle. Amil Kumar was his

opponent, the 96 g class, he

didn't shake his hand either. You play either. You play hard, Australians play hard but we

play - once the match is

decided we accept the results

and we play fair. Now that was

the crowd at the Greco Roman Look at this terrific bad

mitton to being played to a few

family and friends. They need

more people there, trying to

get some kids along. Fine

point, unfortunately no-one there. Same at the table

tennis, very few people in the

stands. The women's hockey, Australia playing, that was

pretty ordinary as well. Rohan

Bohana he had a sense of humour. Ladies and gentlemen,

can you please be quiet during and before play, thank you. He

asked for the crowd to asked for the crowd to be

the women's hockey India scored

a goal against Australia. The

Hockeyroos win #2g-1 but that

was the biggest crowd we've

seen so far at the women's

hockey. You should find all the

misdemeanours in Delhi and sentence people to community

service as members of crowds. They're trying to get

school kids along to just get the atmosphere going a little

bit. They had a good crowd at

the swimming tonight. It's a

bit sad overall. That's all

from us. If you would like to look back at tonight's

interview with Gail Dines or at our website or follow us on

Twitter or Facebook. Goodnight. Closed Captions by

CSI Live.

Lateline Business, I'm Ticky Good evening, and welcome to

Fullerton. Tonight, it was

never popular with customers,

the regulators or even the

company's own shareholders, is

Rio Tinto about to walk away

from the Pilbara joint venture companies may in unson decide

to say "Look, it's just too

hard, we're not going to get

approval, so let's just call it

quits now". For all the talk quits now". For all the talk

and the platitudes, the

figures show women are still

excluded from company

boards. Not much has changed in corporate Australia in the

last... well, it's close to 10

years now at that very senior

level. And private funds help

turbo charge the development of solar thermal technologies. The

challenge is how do you solar energy after dark and these technologies allow you to

store that thermal energy in a

mass molten salt or the

like. With Wall Street close to a 5-month high the All Ords

closed more than 1.5%.

Rio Tinto denies it's made

any final decision, but the

proposed iron ore joint venture

with BHP Billiton in the

Pilbara looks increasingly

likely to hit the buffers. The plan, the corporate history was hatched

last year when Rio was deep in

debt and iron ore prices were

way off what they are now.

Publicly Rio Tinto says the

venture is still alive, but an extraordinary leak Monday's board meeting suggests

they're about to walk away. Here's Phillip Lasker.

Headlines like this did not

come as a total surprise to investors. I think both

companies may in unison decide

to say "Look, it's just too

hard, we're not going to get approval,

approval, so let's just call it

quits now". A report from extraordinary boardroom leak

said Rio is preparing to dump

the $120 billion iron ore joint

venture with BHP Billiton in

West Australia's Pilbara. It quoted boardroom discussions,

canvassing a strategy for

walking away from the joint venture deal that would not anger or embarrass BHP. Taken

at face value, the reports

would indicate an extraordinary

breach of boardroom confidentiality and I find that

astonishing in a company as

professional as Rio. In statement, Rio Tinto said:

The ultimate customer, steel

mills in China, Japan and

Europe have lobbied regulators

fearing Rio and BHP will control global steel

prices. The poor old steel

mills are making very little

money, the iron industry is

making record margins and the steel mills have a in Europe and I think the EU

will simply say no. Some Rio

shareholders are also saying no

because the company's no longer

drowning in debt and surging

iron ore prices have made its business much more valuable.

So they see the $5.8 billion US equalisation

equalisation payment Rio was to

have received from BHP as part

of the deal, as too little. We

would suggest the payment

probably needs to be closer to

$10 billion now given what's

happened in the iron ore environment in the last 18

months. As the two parties have moved on in different

directions it would suggest the

gulf between them in terms of

the equalisation payment has

become increasingly an issue. Despite this morning's

report, analysts say it's

unlikely Rio will dump the deal

because it will be hit with a

multimillion dollar brake fee,

allowing regulators to block

the proposal will prove much

more convenient for both companies. There is, of

course, the alternative of

simply waiting until the deal

expires at the end of the year,

and an arrangement with and an arrangement with the West Australian Government already some degree of cooperation without the regulators

approval. What's not clear is

how much of the purported $10

billion in synergy that billion in synergy that was to

come out of the joint venture

has been realised as part of

that change of arrangements with

with the West Australian

Government. UBS estimates it

could be at least $6 billion in

savings. Just a day after the

Reserve Bank left rates on hold and the Treasurer fired a

warning shot across

theirboroughs, talk of an out

of cycle rate rise by the of cycle rate rise by the big

banks is back. during the election campaign but since that was settled, the big four have again been making

noises about reviewing raetsz.

They continue to argue a rise independent of the could be needed. Today it was ANZ's

crow o Mike Smith's turn to

make the case. I think the fact

of the matter, is if you look

at the statistics we're playing

about 160 basis points more on

deposits than we were

crisis. In mortgages we're

only up about 100 basis only up about 100 basis points,

something has to give at some

stage. The RBA itself thinks the big four the big four wanks margins are

just fine. Treasurer Wayne

Swan says he doesn't see a case

for an out of cycle rate rise

while the banks are making

record profits and that's

probably the only thing he and the Opposition's Joe Hockey do

agree on. Solid gains on the

local sharemarket today,

earlier I spoke to David Halliday from Macquarie Private

Wealth. David Halliday, the

local market seemed to mirror a very strong Wall Street session

really? It did indeed. The

data that came out last night certainly encouraged investors

overseas. The data in

manufacturing terms was very

strong, the US market had a big run. It run. It saw commodities move

higher and our markets picked

up on those leads and ran with

them strongly from the get go.

The market remained well bid throughout

throughout the course of the

session and right into the

close. As you would expect on

a day like that, the miners did

their share of lifting. BHP

and Rio up by about 2.5%. On the flipside, banks were

strong, up by around 1.5 to 2%

across the sector in those four

stocks and they added around 13

or 14 points of or 14 points of the 80 points we saw. The four banks and the

two resource stocks accounted for around 40% of the gains of

the total market. They weren't

alone. Every other sector in the market was up today. It

was a encouraging day after a

soft day yesterday. Markets

strong pretty much around the

world, was that on the back of

expectation of quantitative

easing in the US. We've just had Japan? That was Clearly the economic data

coming out of the US over the

last couple of months has been

very strong. We know the

strength of the economic data

we've seen here locally, almost

enough to believe the Reserve

Bank would lift interest rates

yesterday. Quaentative easing

coming of what magnitude is yet

to be seen, but certainly

positives to come from that and the Reserve Bank of Japan doing

the right thing by the market

there. At the same time it

does appear the Asian economies

are going at full steam ahead.

It's probably not surprising on

that basis we are seeing

markets run and look I think people were saying the market

might, in fact, have a pullback

locally to around 44 or 4500 points, but that wasn't the

case today and it appears many of the funds

somewhat the last 300 or 400 points of gains and in some

ways they're forced to

participate and that's what we

saw today, a lot of money

coming in off the sidelines, a

big move to the upside but also

pleasing was the volume, $6

billion worth of shares

changing hands and that's back

to the type of levels we to the type of levels we were

used to in the bull market pre-GFC. Good

dispute, has that been a relief

for investors? It appears to be the case. The question you

must ask is whether gains of

around 4% of the share price

today were attributable to that

news that came out on the resolution of the shipping case

or whether it was to do with

the broader market gain. My

feeling is it's probably more

to do with broader market

gains. In any case it was good

news that resolution over a

shipping contract cancelled in

2009 has been resolved. The

company guided the market to a

total cost in that case of

around $171 million. I think

the final number came in at expectations, under budget. I think most of the gains are

probably attributable to a

strong market today. David

Dave, thanks very much for

talking to Lateline Business.

To the other the local sharemarket:

The latest census of women in

the Australian workplace has

revealed the glass ceiling is

just as if I can use that

termly in

been. Women make up just 8% of

the directors of the top 200

companies, while in the key

management roles regarded as

essential training grounds for

the boardroom, women represent just 4%. just 4%. Andrew Robertson

reports. Despite all the

recent talk of helping women to

the top, the boardroom is still

very much a male club. At the

end of April, women had just

123 out of nearly 1500 board

seats at ASX200 companies.

It's up slightly in It's up slightly in percentage

terms, but in 2008 there were 125 female directors. Women

chaired just five ASX200 companies and held six CEO positions. The percentage of

companies with no female

directors went up from 51% to

54%, while the merge of women

in line management roles

considered essential for rising

to the top remains at just over

4%. Not much has changed in

corporate Australia in the

last... well, it's close to 10

years now at that very senior

level. You can see it

manifested in the figures despite

from senior executives and CEOs

of companies and indeed board directors. It's an

directors. It's an issue which

attracted a mainly female

audience to the Institute of

Company Directors in Sydney many of them such as business

consultant Jen Dalitz, have

strong opinions on what's not

happening for their

gender. What I'm not seeing in organisations in their policys

is a real sense of risk taking.

It feels like the safe path is being followed each time. Jen

Dalitz believes nothing will change for women in the Australian corporate world

until a company bite the bullet and do

something radical. I've seen an

example in France where the CEO

of Ambac who is a woman has

made a public statement saying

if there are two candidates

with equal credentials with equal credentials she will

choose the female, until gender

equity exists, she will choose

a female. That's a risky

statement. Mike Smith braved

the mainly female audience and

agreed something dramatic needs to happen for change. There probably hasn't been risk and I think one of the

issues is some of the

experience that a number of women

women have had has not necessarily been valued

properly. ANZ has won woman on

its board. The head of the

Australian arm of global finances services firm Ambac

believes for situations like

that to improve those on the

inside need to do more for those trying to climb the

corporate ladder. One of the

issues here is networks. It's

difficult to break into the

networks to actually get on

board board or in senior management,

but people who serve as mentors

"Let me pick up the phone and

introduce you to someone you need to meet". A perennial

challenge women face is resurrecting their careers after having children. Companies

children. Companies also likewise don't necessarily want

to have the time to invest in

meeting with women who are

coming back into the workforce and there isn't a particular

role. In the reverse situation they will have a conversation and a coffee with a guy. With diversity soon to be enshrined

in the ASX listing rules, women

are hoping the next women in leadership census in 2012 will

reflect a different culture.

In Newcastle, the CSIRO is building

building Australia's biggest

solar thermal plant that will

be able to produce electricity

after dark. Private companies

are now lining up to get in on

the action, especially with prediction s that solar will be

able to produce a quarter of

Australia's energy needs. Michael Troy reports. Increased investment into solar research reflects a growing

confidence by business. These panels

panels are called helio stats

and they all focus on one point

up on the tower you see behind me and create depending on

which experiment we are running

between 6,000 and 1500 degrees celsius. Dr Alex Wonhas says

the director of a CSIRO project

called Energy Transformed

Flagship and believes the

renewable energy sector is on

the cusp of big

breakthroughs. We believe it's

going to be a massive

opportunity for Australia.

have done some projections of

the energy sector out into the

future in Australia and believe

the potential for solar power

in Australia is about 25% of our total energy mix. If you

translate that into dollars translate that into dollars

that could be a $10 billion a year industry. This solar

thermal plant has been going

for four years but now a much

bigger more sophisticated one

is being built close by. The

new solar field that we are

constructing is bigger. It's

actually going to be the

biggest solar field in the world. world. There's going to be 60

helio stats in this field and

they'll be connected to a tower

over here. We've got good sun

conditions, and potentially market opportunity, as well.

The potential for this

technology is huge. The idea

that one of the challenges with

solar electricity is how do you

provide power after dark and

these technologies allow you to

store that energy in a thermal

mass whether it be molten salt

or the like and then generate the electricity into the night. The Australian Solar Institute is commitment by the Federal Government to get renewable

energy projects like this off

the ground by leveraging Commonwealth funds to attract

private investment. So far, in

the last year 44 million has

been awarded to 13 projects which in turn have attracted

$88 million of private funding.

The market has suddenly

increased its amount of investment in the projects

here, but before it'll invest

more funds it needs to know

that the technology works. One

way of making renewables work better is to use more than one

type. The CSIRO now has a working

working model of renewable energy coordination system which switches between

solar, wind, gas turbines and

battery back-up. But a lack of certainty over Government policy on policy on a carbon price is still holding back

investment. You can achieve scientific breakthroughs, technological technological breakthroughs,

but you're not going to see

those breakthroughs make their

way to market without

investment. Paul Fox is from a

seed stage investment company in

in clean energy based in San

Francisco and says companies

are positioning themselves to develop

next stage, and there is a

feeling governments will soon act on a carbon price. There's

definitely a change in the

population's perspective of climate change and climate change and the need to

change the energy mix and to

change the energy mix and to a

great extent, politicians seem

to be reacting to that. The

CSIRO's new experimental solar

thermal power plant is expected

to be operational mid next

year. To discuss this further

I'm joined from our Melbourne

studio by Dr David Kearney and he's been one of the pioneers

of solar power in the US. Welcome to the program. Thank you. The idea of concentrating solar thermal

solar thermal power is quite different from different from photovoltaics,

isn't it? How many of these sort of big solar power

stations are there in operation at the moment in the world? There are quite large

plants operational in Spain and

also in the US. In the US

there is a large number of

companies that have agreements to sell electricity

from large solar plants to

utilities and they're utilities and they're going through the permitting

processes to make that a

reality. We've just seen this vision of the Newcastle plant,

do you think the forecasts of

the CEO scientists there that

this could come to make up 25%

of the energy mix in Australia, a $10 billion business? I

certainly view that as quite

possible. In California, for there is a portfolio standard for utilities and in California

that standard is set at a level of

of 33% of renewable energy

production in the State by

year 2020. Are we behind in

Australia in this industry? Australia is

certainly behind in the degree

of commercialisation that has

been achieved in just a few other places in the world, but

the solar resources in

Australia are so strong

Australia are so strong that it

certainly would be possible.

Of course the Of course the issue here is the inexpensive coal that's also

available to produce power, so

one has to make the decision to

go with renewables go with renewables in terms of improving the environment and

climate change. Is that why

we're behind because of this

much cheaper option, you

much cheaper option, you say

we've got some of the best opportunities in the form of

sunshine in Australia? I would

expect that that's the primary

reason. Other countries with good

United States has been making tremendous

tremendous progress in the last

few years but up to that point

of time it also was behind in what what it could have achieved. We've seen some

achieved. We've seen some interest and indeed it was

mentioned in the story from

private investors, but from an

investment point of view, what

are the risks here? The risks

from the investment point of

view, if a technology has not been well proven, then the

investors have a risk of

whether it will be successful

over a 20 or 30-year life of over a 20 or 30-year life of a

power plant, so any new

technology has to go through a prototype and early development

stage before it's totally

accepted by the investment community. One of the big

breakthroughs technologically

here is being able to keep here is being able to keep the

heat into the night by the use

of a molten salt system. How far away

far away around the world are

we from being able to store electricity in this way for

peak time use? There are a

number of plants in Spain that

are already using the molten salt technology for thermal storage and in the United

States there are some very

large plants that will be

starting construction before

the end of this year and certainly early next year that are

are using molten salt systems.

With that kind of a storage

capability, you can tailor and

dispatch the electricity from a

solar plant to meet the demand

of of the electrical grid and

that's very important in some

but not all locations in the world. Do you believe that the solar industry can stand own without a carbon price? I think

think it will be difficult to

do so. Most people who are

looking closely at solar...

maybe it should be expressed that the solar industry would grow more quickly certainly be very effective in

the long run if there's a

carbon price. You've spent a

few days here in Australia I

know, what do you make of the

Government's commitment thus

far to solar? I far to solar? I notice it's just pulled funding of the

photovoltaic centre of

excellence in the University of NSW? I

NSW? I think the Government is

taking the right steps, but it

certainly is not acting as

aggressively as some other countries in the world, the

ones we've

others, given the solar

resource s it would be

excellent to see Australia taking more aggressive steps than it is than it is already. Dr David Kearney, I thank you for

joining us on Lateline Business. Thank you. The rogue

trader who almost sank one of

Europe's biggest banks has been

jailed for three 33-year-old Jerome Kerviel lost

around $7 billion while working at the at the bank in 2008. A Paris court found him guilty of

breach of trust, forgery and

entering false data into computers. Jerome Kerviel admitted regularly exceeding

trading limits and logging

false transactions to cover his

gambles, but he says it was

common practice among traders and

and bosses turned a blind eye as well as the money was

rolling in. Now a look at

tomorrow's business diary, and

the Bureau of publishes the latest labour

force data.

A look at what is making business news in overseas

banks. Central banks are

moving to respond to a weak

recovery, sending stock markets

across the world up.

'Financial Times' has an interview with the IMF chief. That's all for tonight. You can watch Lateline Business

Monday to Thursday at 8:30 each night on ABC News 24, as well

as after 'Lateline' on ABC1. I'm Ticky Fullerton, thanks for watching, goodnight. Closed Captions by CSI Who are you? Yasim. You must be Stephen.

Yasim who? I'm Michael's wife. Well, his widow. ID, please, sir. Ezard. Stephen Ezard? Yes. TIA - Total Information Awareness. TIA is the entire UK at one database. Birth to death, day to day, up to date and in real time. What people need to know is that if TIA becomes law, then every person's card will not only show who they are, but will monitor every single second of their lives, both public and private. There's a woman lying in there, unconscious. Nadir Al-Falani. What's wrong with her? I don't know. The illness has so far proved fatal to all those infected. It is a mystery to health officials and it's thought that close personal contact is the cause of the contamination. It's not good. Professor John Moreton. We should stop Ezard now.

We don't know who all the players are. We need to find out. Thank you for helping me chase that away. I think we did a lot more than that.

A few days ago, Dutch police detained a group of illegal immigrants. Your person caught it on photos and biometric details just in case any of them were of special interest. Eight of them are not. Number nine certainly is. It's David Russell. Two years ago, he disappeared. No record of where he went and what he's doing. Russell's rather good at disappearing.

That and wet operations. Assassination. Yasim? Yasim! COMPUTER: Start TIA. Ugh! Argh. Oh. Oh! CLICK Come on! SPEAKER: Doors closing. Doors opening. Doors closing. Doors opening. PHONE RINGS Right man, wrong woman. I know she was staying at this hostel. I saw her. She came out of here maybe three, four hours ago. No, she was never here. SIRENS AND RADIO CHATTER into the United Kingdom The introduction of ID cards has been a huge success. UPROAR carry the card, More than 25 million of us with a voluntary system but as we anticipated those who pose the most threat are those least likely to carry one. LAUGHTER MAN: I haven't got one! We need this TIA vote.

What happened? An hour ago we had the numbers. out of hospital. They went and got two we're still one ahead. But unless they raid the morgue Excuse me. PHONE RINGS Stephen. Now is really not a good time. Something's happened.