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Employees of a company

charged with bribery co-owned by the Reserve Bank

charged with bribery in

Asia. The charges relate to alleged bribes paid to officials in Indonesia,

Malaysia, and Vietnam between

1999 and 2005 in order to

secure banknote contracts. A 1999 and 2005 in order to

former New South Wales doctor

gaoled for malicious harm to

patients. As a new financial

year starts one of the less -

what are the lessons of the what are the lessons

past 12 months? And well overdue, Sydneysiders finally get rolling stock.

Hello and welcome to ABC News

across Australia, I'm Ros

Childs. The local share market

is taking a breather after

yesterday's strong rally. The

All Ords are 15 points lower

and the Nikkei and the Dow is .

Two currency companies

controlled by the Reserve

are controlled by the Reserve Bank

bribery scandal this lunchtime. Six former employees of

Securency and Note Printing

Australia have been arrested in Victoria. They have been

public officials in Indonesia, charged with paying bribes to

Malaysia and Vietnam in order

to secure banknote contracts.

This is the result of a

two-year investigation, take us

through what is alleged to have happened? Ros,

happened? Ros, a whistleblower

from Securency first came

concerns forward in 2008 to raise

of the company and senior sales

executives have been offering

bribes to secure banknote

contracts in countries overseas. The AFP has faced a

bit of criticism from senators

Nick Xenophon and Bob Brown

that they were slow to act in investigating but now after

raids this morning the arrests

have been made and it

have been made and it is

alleged that bribes were paid

to officials in Indonesia, ma

Malaysia and Vietnam. We know that the to Vietnam relates to university scholarship paid to to Vietnam relates to a

an officer. An AFP officer

charges this morning. The explained the nature of the

companies are charged as co-conspirators with the other

individuals. It is deemed that co-conspirators with the other

the senior managers of the

company direct the mind and

will of the companies. The

bribes from their accounts and companies themselves paid the

re CCTVed benefit of that bribe in the

form of the banknote

contract. What has the Reserve

Bank had to say about these

arrests? The Reserve Bank,

which owns 50% of Securency and 100% interest

100% interest in Note Printing

Australia, has said this

morning that both the board,

the bank and the two companies

have fully supported the AFP

investigation. They pointed out

that all the men arrested this

morning no longer have any

connection either with the

Reserve Bank

companies. They have also said

that they regret that they

didn't have governance

to processes in place at the time

to pick up the wrongdoing to pick up the wrongdoing and

no one on the Reserve Bank they've also pointed out that

Board has been accused of any

wrongdoing at all. The Reserve

Bank also announced last year

that it would be selling its

share in Securency but it has

confirmed this morning that

negotiations are ongoing and

the sale is yet to be completed. These arrested this morning, what

happens now? Yes, they

happens now? Yes, they were

arrested after raids in various

parts of Melbourne and at one

property just closer Geelong. The six men are due to

appear in the Melling

Magistrates' Court today. They

face a maximum jail term each

of 10 years on each of the

charges as well as fines on

each charge of $1.1 million. As

have also we have heard the companies

maximum have also been charged and the

companies are $330,000 per

charge so the men to appear in the Melbourne Magistrates'

Court today. At the news

conference this morning the AFP

was very keen to emphasise that

these charges should serve as a

warning to corporate Australia

that this type of behaviour, alleged behaviour, should serve

as a warning to corporate Australia that this

Australia that this sort of

behaviour and negotiation tactics won't be tolerated. Thank you. Thanks

Ros. Graeme Reeves, a former New South Wales surgeon found

inflicting grievous bodily harm guilty of maliciously

on a patient and indecently

sentenced to three-and-a-half assaulting two others has been

years in prison. We are at the

downing centre court building in

in Sydney. What was

in Sydney. What was Graeme

Reeves' reaction to this

sentence? Graeme Reeves walked

into the New South Wales

District Court this morning, he

was a free man on bail, he is no with his head in his hands for

the entirety of the sentencing

hearing today. He listened to

reasons for putting him behind justice Greg woods outline the

bars. He said that

bars. He said that the

towards his behaviour of Graeme Reeves

towards his three patients was reprehensible, grossly wrong

and intolerable. So this has

been a long life running case

with suppression orders. Just

remind us of the background to

able to talk about Graeme in three years we have been

Reeves, the suppression order Reeves, the suppression

on his name and identity was

lifted today in court by the judge. This case, in

particular, the

today involved three separate particular, the sentencing

patients of the former doing or

the, one of those patients was

treated for - she went in for a

treatment on a small lesion,

when she came out of surgery a

large part of her genitalia had been been removed and there had been

no informed consent for that

procedure. That was the charge of grievous bodily harm that

was levelled against

was levelled against Graeme

Reeves, part of the

against him. The two other

cases in point were for sexual

misconduct, if you like, from

Mr Reeves, indeed sent assault

was of two of his patients and that

was - formed part of the

sentence today. I think behind

me one of the victims is

addressing the media today's proceedings. Some of

his former patients were

his former patients were there? Yes, they were in court

today. Obviously we are yet to

hear on just how they hear on just how they have

reacted to it but obviously it

has been a long-running case.

It has been something likely to

years this has been going on

for and now finally there can

be some closure for the

patients here, for the former

patients and victims in this

case. But whether this is the

end of it we will have to wait and

and see. All and see. All right. Thanks

Ros. A UN tribunal has issued

warrants for the arrest of four

people believed to have been

responsible for the

assassination of Lebanon's Prime Minister six years ago. The suspects are believed to be

senior members of the militant

group Hezbollah. Ben Knight

reports.Even by the standards

of Lebanon's painful history

the assassination of Rafik Hariri was

Hariri was literally

shattering.The massive truck

bomb killed not just the prime minister but

and destroyed a huge area of

the Beirut seafront.

Immediately the finger was it

pointed at Syria, a country

that had long had its own

fingers in Lebanese affairs and

soldiers on Lebanese streets.

Such was the outcry at the time

that Syria was forced to

that Syria was forced to pull

troops out of Lebanon soon

after, something that has

rankled the Syrians ever since.

When the United Nations set up

its special tribunal for

Lebanon to investigate the murder just to Syria but to Lebanon's home-ground resis movement Hezbollah. Late last year

Hezbollah's leader made his position on that

position on that idea very

clear. TRANSLATION: Mistaken

are those who think we will

allow the arrest or detention

of any of our fighters. Any

hand that will touch any of them will be cut off. Now

Hezbollah has

It is the backer of the new

Lebanese Government, a

government that has received

arrest warrants for four people

believed to have links to

Hezbollah. It all puts the

country's new Prime Minister in an incredibly difficult position.His Government now has

30 days to do something. What

happens after that is anyone's

guess but in Lebanon the answer

is rarely good.

austerity bill has been passed

by the Greek parliament a day

after violent

after violent scuffles broke

out between police and

demonstrators over the

package of tax rises and government spending cuts. The

European Union is now expected

to hand over $18 billion to

help Greece avoid bankruptcy.

We have a report from Athens.

The clean up began early. By

the morning rush hour there was

little evidence of the viewment

lent struggles of the night

before. Inside the parliament

the deeply unpopular austerity

bill cleared the last bill cleared the last hurdle. A Greek Australian has been

taking part in protests against

government savings plans that

target those on the lowest

incomes. All they are doing is delivering policies, unjust

policies, on people who really haven't caused

haven't caused this crisis and

who are asked to pay for it. German it. German and French banks

owed money from the Greek

government have agreed to ex

tend the terms of their loans

but even those within the senior ranks of the European Union admit that the banks have

little prospect of ever getting

their money back. I do admit

that this is - Greece is already bankrupt. The

already bankrupt. The next

challenge will be trying to

collect the new taxes in a

country whose auditors are already among the most corrupt

in the world. I

go home anytime I wish To

Australia? Yeah. But educated young

young people, they will leave

the country and the people who will be left behind here are

those who are used to surviving

in a corrupt system. With the

Greek government so desperate

to avoid official bankruptcy it

is even hoping to raise $75

billion by selling off some of

its most iconic landmarks and islands.

calm has returned to the

streets of Athens. But looking

around it is clear that the

battle over the future of the

Greek economy is far from over.

The deal in Greece overnight

comes as a relief to markets

across the world. For us in Australia it neatly rounds off

the financial year. As we

embark on financial year

2011-2012 it is a good time to

look back at the last 12 months

on the stock market. Is it a

year to forget and what lessons to take into the year

ahead. Here is Shane Oliver,

head of investment strategy at

AMP Capital Investors. How

would you describe 2010-11, a

good year? A messy year but it

turned out reasonably good for

investors, I think. Through the

second half of last year - over

the first half of this financial year - we actually

started to see a recovery. A

year ago there was worries

about Greece, worries about a

global double bip. Christmas we saw shares move

higher as the concerns receded

and America pumped into more

stimulus. This year it got

messy again, the floods in

Australia, earthquake in Japan

and the surge in the oil price,

bad weather in the US, all

these things have come together

to lead to more concern about

global growth and of course the

resurgence of the Greek

problems but through all of

that, despite the volatility,

interestingly the Australian

share market did rise more than

7%. When you add in dividend

get from their stocks - returns

would have been around 12%. It

is a reasonable year. You would

have been much better off

putting your money in stocks than the bank? That is correct. Common

Common perceptions would have

been that wasn't the case but

it has been. Bank deposits

would have given you 6% or 7% and the share market 12%. What

are the lessons to take into

the next financial year? The

mining boom in Australia is now

going through, the second

iteration of

as smooth sailing as the first one

one last decade. It is causing

a lot of strain on parts of the

Australian economy. The mining

sector is booming but parts of the economy will

continue to struggle to some

degree. That is a lesson and does affect people when undertaking investments.

Likewise we are going through

Likewise we are going through a

very fragile global recovery.

We will see the upsets along

the way. The key for investors

is to try to turn down the

volume to some degree because

the broad picture is one of

interest rates globally and now shares are quite cheap. You

mentioned that the fragile

economic situation around the

globe and we have dodged a

bullet with Greece but one of the directors of the Reserve

Bank is talking about economic catastrophe, describing the

global economy as a slow motion

train wreck because it will

collapse under the weight of

debt, do you have sympathy for

that? That is a big concern.

One of the concerns about

Europe with Greece recently,

the US and Japan even, are very high public debt

levels. That will be a big

constraint going forward. The

trick I think is to make sure

that ultimately the deficits

are reduced but without at the

same time raising taxes too quickly or cutting spending too

quickly such that the major

countries go down the same path

as Greece that it is going through at the moment. That

does mean a difficult balancing

act. My feeling is we will

avoid catastrophe. I don't

think catastrophe will happen but it will be a constrained

and fragile recovery in the

constrained companies. The

emerging world does not have a

debt problem, the China's,

Brazils and so on does not have a debt

a debt problem, and that is

good for Australia because that

is the part of the world we are

increasingly exposed to in

Australia. Hundreds of

thousands of public sector

workers have demonstrated at

rallies across the UK over

austerity cuts. They are angry

at what will happen to their pensions. 30 people were

arrested arrested but the rallies were mostly peaceful.

mostly peaceful.

No public sector cuts. For

hundreds of thousands of public

sector workers the office and

the classroom gave way to this,

an angry display of frustration

with a government that wants to

raise the pension age and slash

benefits. The attraction of the

job of a good pension is going

to be weakened and I think that

will cause promising young

teachers to leave the

teachers to leave the profession. In cities thought the UK consistent, a sense the weaker

was paying for the sins of well

healed bankers. The government says they are not beings

punished but as people are living longer the pensions are

not sustainable. The costs of

public service pen Shauns have

risen dramatically in the past

three years. 12,000 schools

were closed or partially shut down. Pes prat -- correction

desperate parents were forced

to find alternative child care

or stay home from work. Sympathy more don't think there is any reason

for it. They should be in the same boat as everybody

else. There was some scuffles

and arrests, those blamed mainly on anarchists who joined

the March but the vast majority

wanted to send the message,

"Don't mess with our "Don't mess with our

retirement." It will halve the

pension I get and it will mean

if I die my husband will only p

get half of what he is due

now. An economy under pressure,

unhappy workers, a recipe for more trouble. The Government's been extremely dismissive of

these people saying their

actions are irresponsible, they

may have to get used to

protests like this as a

of discontent seems almost inevitable.

inevitable. Let's take a check

now at the markets. How is it

all looking? The share all looking? The share markets

started the new financial year

on a positive note opening high

for the fourth Strait day. It

was lifted by rally #234s US

and Europe

release of weaker than expected

Chinese manufacturing market

led the share market lower. The

All Ords is now down

and the ASX is going backwards.

Ofry gin Energy is down 1.5%,

Oil Search is matching those

falls. Caltex is the only

bright spot. It is up 60 cents for the week. Fortescue metals

reached a milestone today. The head of forts the queue, Andrew Forrest, create more than 50,000 pledges

of Aboriginal jobs for people

has been reached.BHP has

completed its $10 billion share

buyback program six months

earlier than planned but it is

down 9 cents today. Rio the end to is

to is also losing ground. There

has been a big fall in the rare

earths miner Lynas. Share Ms The

reports the company's

processing plant could be

delayed by up to 2 years

because of safety concerns.

According to CommSec the stock

was one of performers last year. The

banks, how have they responded to the deal in Greece. They

have not followed their

counterparts up today. After a

week of gains they are now

going backwards. NAB and the

Commonwealth are down 1%. In

the SSX top the SSX top 100. BlueScope

steel is butting on over 3%

going down are David Jones and

the Fosters offshoot treasury

wine estate. The biggest four

day rally since September.

Traders cheered the latest

developments in Greece and an

unexpected jump in business

activity in the activity in the Midwest.

Industrial and tech stocks

outpaced the market. London's FTSE added 1.5%. In Japan:

Sydney finally had a chance to try out

one of the city's new but much delayed waratah trains.

Passengers got on at Redfern for the train's first public

journey across the city

network. The trains were meant

to be ready a year ago but

Downer EDI has been plagued

with problems including software defects and the

discovery of asbestos at the

Newcastle factory. It is the

biggest train purchase in Australian history. China's

Communist Party is celebrating

its 0th anniversary today. Born from Born from a small group of ill

tell electch walls the party

now rules the country's second

largest economy.On this largest economy.On this the

90th anniversary of the

foundsing of the Chinese

Communist Party I have come to

the country's north-west to

Yah-Nan a place seen as this party's pair The Communist Party was formed

in the 20s in Shanghai, went

through various struggles, was

almost wiped out, only survived after

after the famous long march as

it was known which ended up

here and the reason this is

known as the spiritual home of

the Communist Party is because

when they were here they were

seen to be trying out communism

and certainly it sit presented

in a utopian kind of way. It is also transformed a group of

thousands into an army of

millions which was capable of

taking over the country. In terms of this terms of this utopian presentation though, tourists

come here as part of this

burgeons red tourism trade in

China and we saw a show which features - well, essentially it

is a battle between the

communists and the nationalist.

While most of their actors - if

you pay a bit more money you can participate.

up as a communist and

nationalist and be part of the

fight, all guns blazing, a

fight ha the communists will

eventually win and march eventually win and march on to

Beijing. Of course today also

needs to some questioning about

who is communism in China? What

is left of it? Is the party

still a Communist Party and

today while elsewhere in the

world other Communist Parties

have fallen by the wayside,

they are in charge of the

world's second biggest Relations with the inlaws have

always been a rich vein for

commedians but an email

detailing one bride-to-be's disastrous visit to her

fiancee's parents in England

has become an internet

sensation. In it the future mother-in-law complained and

the young woman's staggering

bad manners and lack of grace.

I'm going to give you some

really easy tips on how to look

after you pink. A bit of

gardening advice from nursery

owner Carolyn Bourne. But

her lessons in het kept that

have made her name. A few weeks

ago her stepson Freddie took his fiancee Heidi withers back

to the family home in Devon. Afterwards

Afterwards she received an

email from her prospective

mother-in-law apparently

criticising her table manners

and attacking brash, celebrity

behaviour. In the message she

told Ms Withers, "You do not

lie in bed until late morning in households that

It seems the email Mrs Bourne

sent from here to her

daughter-in-law to be was meant

to be private but somehow it

was forwarded on to other

people who then sent it on to

more people and then it went

viral and has now been seen by

millions of people all over the world. The world. The Bournes were keeping

a polite silence today but

neighbours said lessons had

been learned. To put it in an

email puts it in the public do

main. It is not a very clever

thing to do. Today internet use

earns described Mrs Bourne as

the mother-in-law from hell and

defender of the nation's

manners. The wedding takes

place in the autumn. place in the autumn.

Cheering crowds have greeted Prince William and Kate

Middleton on official overseas trip as a

married couple. The Duke and

Duchess of Cambridge arrived in

the Canadian capital at the start of the nine-day visit.

The first public duty was to

pay their respects to the

country's fallen soldiers at

the National War Memorial.Part

of that was a wreath of that was a wreath laying

ceremony at the grave 06 the

unknown soldier. Then came what

the crowds have been waiting

for, a meet and greet with the many thousands hoping to get a

glimpse of the star visitors.

Seven years on from her first

Wimbledon women's title Maria Sharapova

Sharapova has the Sharapova has the chance of

making it two. She will play

Petra Kvitova in tomorrow

night's final. One of the men's semifinals

semifinals will pit Britain's

hope Sandy Murray against

Rafael Nadal. The Wimbledon

crowds are a knowledgeable

bunch but maybe some things are

just too obscure, like who is

contesting the contesting the women's semifinals. Anna kourn any

co-have a. There is Sharapova and... Azarenka is playing

another lady who I'm sure is a another lady who I'm sure is a

fantastic tennis player. B plus

to the bearded Australian.

Azarenka was playing Petra

Kvitova. Critics call the

women's game anonymous.

Optimists say it is fresh.

the decide ing set Vitshumbi

pulled away and joined the roll

call of celebrated Czech

lefties in her first Wimbledon final.The other semifinal had

the champion of 2004, Maria

Sharapova against the unseeded Sabine Lisicki. Sabine Lisicki

sped to a 3-0 lead but Sharapova narrowed her eyes, steeled

steeled her spine and swept her

German opponent aside in

straight sets.All of which

centre court action allowed centre court action allowed the men's semifinalists

men's semifinalists to have a relaxed day before their games

tomorrow. Andy Murray ended his

quarter final wincing from a

strain. He seems to be moving

easily enough now. Rafael Nadal

was displaying his talent today

by foot and by racquet and by

just being a hunk of Spanish beef. Love you. Rare brilliance, tough to beat. As brilliance, tough to beat. As northern beef producers

struggle with the cattle export

band in the Red Centre things

have rarely looked record rainfall has resulted in

fat and healthy cattle for

auction.Buyers came from across

Australia for the only Australia for the only major

local sale of the year and the sales pitch was on. 181 sales pitch was on. 181 cents. Prices were steady on

last year but well up on the

past decade. The previous we were in severe drought so it

is a nice feeling to be able to

produce some fat cattle and

with really good muscle

in them. Some Top End cattle

would have gone to Indonesia but instead ended up in Alice

Springs, some sold and some

passed in. Most of them sold

and they sold at about the rate

we hoped they might sell. That

was very good. The industry is

keen not to talk itself down

but central Australian farmers

are feeling for their northern counterparts. We are all in the industry together. We're all

trying to sell an a animal, a product that we've got. The sale coincided with the government offer to increase

compensation 10 fold. Some affected northern producers

weren'ts impressed. Not even a

bandaid really, is it? We

certainly need more done than

that. What we are certainly

seeing is readjustment in

prices that could be in anticipation or as a result

directly of changes

northern cattle. The hot topic

was when and how live exports

will resume but industry

leaders weren't able to offer

any answers. Don't expect any

sympathy from the southern

states but Darwin has just had

its coolest June on record

falling just shy of the city's

coolest month ever. Yesterday's

30 degree temperature ruled out

that possibility. The overnight low was blow

night. You wouldn't guess it

was a tad chilly from the local street wear. Night temperatureses

temperatureses have been the

main factor driving

June will be the coldest on record earn

record earn the second coldest

for any month on record for

Darwin. It has been the coldest

start to a dry season or record

but the borrow is predicting

warmer conditions in July. To

the rest of the national

weather now. The satellite

shows extensive cloud crossing the

cloud being carried onto the

east coast by onshore winds. Moist onshore winds will generate coastal showers for Queensland

The trough will generate rain

and storms for much of the rest

of the south-east. A cold wind

in the West Coast should bring

renewed bursts of cold winds and showers. Final check of the markets:

That is the news for now.

There is continuous news on ABC

News 24 and news online. Our

next full bull on the on ABC 1

is at 7 o'clock this evening.

Have a good afternoon and a grade week end. Closed Captions

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Platycodon grandifloris. Dianthus superbus! Oh, for God's sake! THEME MUSIC Morning, Mrs Inkpen. I hear even more changes are afoot at the family seat?