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but the Past and future revenue down

but the Treasurer hangs on to

hopes of a surplus. And all of that will make it

difficult to reach surplus in

2012-13 but we are absolutely

determined to do

determined to do that. Germany's chancellor gets

crucial traction crucial traction on the European bailout. And that's a

good sign for the further

continuing rescuing of some

other countries in Europe. The

countdown is on in Melbourne

for tomorrow's AFL grand final. (Cheering)

Collingwood! And chimps

accustomed to their new digs at

Sydney's Taronga Zoo.

Hello and welcome to ABC News

across Australia, I'm Tracey

Kirkland. On the local share

markets stocks are making

modest gains:

The Federal Government's

hailing a better Budget outlook hailing a better Budget

than it previously predicted.

The Treasurer Wayne Swan has redone his numbers and says the

Budget deficit for this

financial year will be $47.7

billion down from $49 billion.

Wayne Swan says he's determined to deliver to deliver a surplus next

financial year but the

Opposition doesn't believe he

will pull it off. The newly

crowned world's confronted with his latest

challenge. It's good to be back home. Wayne Swan's final budget

of $47.7 billion, that's outcome handing out a deficit outcome handing out

slightly smaller than forecast

in the May bumingt Budget. This

outcome shows that Australia's

public finances are among the

strongest in the developed

world. But a slowing economy,

the summer of natural disasters

have and the high Australian dollar

to wipe $2 billion off

government revenue. The revenue

hit was largely due to lower

tax receipts from companies, super funds and fringe

benefits. And all of that will

make it more difficult to reach

surplus in 2012-13 but we are

absolutely determined to do

that. Net Government debt has

now been pushed out to $84.6

billion. So Australians can be assured that their finances are strong but they're

in very good shape. If I was Wayne Swan I would be deeply embarrassed and I would try embarrassed and I would try to

bury these numbers in the midst

of the grand finals. But the

Government waited until today

to reveal some of its better

news. The Budget bottom line

has been helped by $3.6 has been helped by $3.6 billion less in Commonwealth spending

than originally predicted in

the Budget, mainly on natural defence. Despite today's better pharmaceuticals and

than expected figures the task

of returning to the promised

Budget surplus next financial

year remains very difficult. year remains

And the Opposition isn't

wasting any opportunity to

remind labour of its daunting challenge. I think it's highly likely that the Government's

broken surplus will become yet another

broken promise. Whatever the

Budget result there will be more

Budget pain ahead. The job

finished. Especially when finding new savings is never

promised Budget surplus. you're determined to reach a

promised Budget surplus. 5 Australian soldiers have been

woundeded in separate incidents in Afghanistan's Oruzgan

province. Last Friday 3

soldiers were injured when

their armoured vehicle struck

an improvised bomb during a mission in the mission in the Karmisan Valley.

In a separate incident on

Sunday two soldiers were

wounded by a blast while on

Valley. They were taken to

Tarin Kowt for treatment. 4 of the soldiers has been

discharged but one continues to receive medical care. Baggage

handlers are threatening a this

24-hour strike unless Qantas

meets their demands for better

pay and conditions. Union

voters have voted to step up

industrial action after walking

off the job for 1 hour at major

airports this morning. We'll

keep taking these actions while

don't they're talking to us. But

up with a 24-hour stoppage. Industrial action

have no impact on the negotiations. We remain very much committed to these

negotiations and we

the union to come back to the negotiating table. At Sydney Airport Qantas management

struggled to keep up with the

number of bags arriving from

flights during the stop work.

There will be more disruptions

in Melbourne later this evening

when Qantas engineers down tools for 1 hour. Typhoon Nesat is now battering

of southern China. It made land

fall on Hainan Island with winds up to 150km/h and

drenching rains. Flood waters and fallen trees cut roads while tens

while tens of thousands of

people were evacuated from

low-lying areas. The conditions

force the closure of schools

and the cancellation of air and

ferry services. Earlier it left

a trail of destruction as it

brushed past Hong Kong.

Scaffolding was blown over in territory. 3 people were

injured. A barge slipped its

against the sea moorings and was slammed

against the sea wall forcing the evacuation of nearby apartments. The typhoon wasn't

enough to faze China's expanding space program. Overnight a rocket was launched

from the Gobi Desert carrying

the first stage of an

experimental space station.

While the United States is

winding back manned space

projects China is preparing to

have its own floating

laboratory in space where astronauts can live for months laboratory in space where

at a time. The United States

might be grounding its

astronaut s but China is

heading in the heading in the other direction.

Last night from north-western

Gansu province, it launched the

first stage of an experimental

space station. If all goes

well, Chinese astronauts will

be living in space within 9 years.

space TRANSLATION: To establish this

overcome connection difficulties. The main mission

for teen . It has to avoiding

collisions in orbit is a major

challenge. Once the floating

test station is in place an

unmanned Robert will attempt to link up with nit the coming

months and then next year a

repeat this action. China's manned spacecraft will try to

emerging space program seen as

a measure of its growing power

is making some other

governments nervous. But here

it's being celebrated as a considerable scientific achievement. Chinese scientists

have been grappling with the stars for

stars for centuries. As you can

see from this old observation

tower here in bay Beijing. Now it looks like the country will

have a permanent laboratory in

space. Something the people who built have dreamed of.

TRANSLATION: No matter whether

you're in the field of space

science or not, we're all watching this closely.

Everyone's happy that step by step we're working towards

having our own space

having our own space lab. And today

today China is one great leap

closer to achieving goal. The

doctor on trial for the

manslaughter of Michael Jackson

ordered the removal of medical

equipment before paramedics as the singer lay

lifeless. That's the evidence

given to a Los Angeles jury by the entertainer's body guard the entertainer's body guard

al-Borrett - Alberto Alvarez

who was first into the room

when Dr Conrad Murray was

trying to revive Jackson. He

reached over and grabbed a

handful of viles and then he

reached out to me and said here, put these in a bag. He

testified the doctor also asked

him to remove a saline continuing a millky white

liquid resembling Propofol. liquid resembling Propofol. The emergency call was made following a 15-minute delay. Medical staff delay. Medical staff who treated anti-government protestors injured in Bahrain

earlier this year have paid a

high price. A military court

has sentenced 20 doctor has sentenced 20 doctor and

nurses up to 15 years in prison

for offences including inciting the overthrow of the

Government. But human rights

groups have condemned the outcome outcome saying they were just performing their medical

duty. These are some of medics now facing years in

jail. Top doctors including surgeons, paediatricians as

well as the head of nursing at

Bahrain's main hospital. It was

to here that the wounded were

brought during clashes earlier

this year. Doctors and nurses

saw, spoke out and in some

cases protested about the

actions of the security forces.

actions of the security forces. Today's verdicts were handed

down by a special security

court set up under Bahrain's

emergency rule earlier this year. At a hearing that lasted

just a few minutes the medics

were found guilty of charges described by human rights

groups as ludicrous. Dr Fatima

Hadji is accused of spreading

bloods on protestors to

exaggerate their injuries. She

said she was beaten in custody and

and threatened with rape before

being released on Jay. She

showed us pictures of her baby

son who she fears she may not

see again for 5 years.

She insisted she did not

nothing wrong. I had a huge

number of patients coming into

the emergency and I had to take

care of them and I thought and

I still think what I

I still think what I did is a

total act of human caring and I

did my professional job. The

Government has accused the

doctors and nurses of siding

with hardliners demanding the overthrow of the

Government. They

attempted a coup detat and

noempb is above the law. The

law has to international attention international attention focused

elsewhere in the Middle East,

Bahrain's repression of dissent

has continued. The harsh sentences handed out today are

unlikely to help this kingdom

heal. Black, white and blue are

the dominating colours in

central Melbourne as the annual

AFL grand final parade gets

under and Collingwood fans have turned out to rub shoulders

with the players in what's

become the traditional lead up to tomorrow's big game. Reporter is braving the crowds. What's

happening where you are? Well

I'm at St Paul's cathedral and

I've got a fantastic vantage

point from here. The parade got

under way about 5 minutes ago

and we've had marching bands.

The crowd has had the chance to

get its first glimpse of the

cup that the teams will be

vying for tomorrow and everyone enthusiastic, that's enthusiastic, that's for sure.

Now, this morning the forecast

for showers today was a little

bit of a concern but it's not

kept anyone away. As you can see the sea of thousands of

fans that have turned out this

afternoon, it is just a sea of

black and white and a sea of

blue and white. There are lots of little whiskers out there

and plenty of painted faces.

Everyone is certainly very excited and

excited and I had a chance to speak to some of speak to some of the

enthusiastic fans before the parade got

away, Cats, go Cats, they will

win. By how much? I'd say about

4 goals. I'm going for Geelong

because I always barrack for

Geelong. What are they going to win

win by? I haven't got a clue.

I'll go for $15. How much do

you think they will win by

tomorrow? I'm not very sure,

maybe 100 points. Go Pies,

because they're awesome unlike

Geelong. Lisa, what's the plan

for the parade? What route will it be taking? Well

the art centre on St Kilda Road

and the players are just behind

me, you can see, making their

way down north into the city. They will go along swanson

Street, they will turn into

Colin Street and will finish up

just before 1:00 in front of

the Treasury building and it's

there where the contender there where the contender will be officially presented to their fans and both captains

will have the chance to hold up

the trophy that they also

desperately will be wanting to

hold up at this afternoon. There will be some

player interviews on stage and

of course the fans will be very

excited to see the trophy as

well. Now well. Now this tradition is something that is now happening every

every Friday before the grand

final but it's not just an

opportunity for supporters to get nice

get nice and close to their

favourite player, it's also a

spectacle that the players very

much enjoy themselves. The

atmosphere and rivalry you can

just feel in the air here. It's

just outstanding. But what

me who's in and who's out for tomorrow's game? Tracey, both Collingwood tomorrow's game? Tracey, both

Collingwood and Geelong had light training sessions this

morning. We know that Dayne

Beams has ruled himself out of

the grand final sadly for Collingwood supporters. He will

not be playing. His position

will be taken by young rookie

Alex Fasolo. Also some other

injury concerns for the Pies.

Darren Jolly and Ben Reid, they

they do have some niggling injuries that are still injuries that are still a concern. But the big question

mark for injuries tomorrow is

Steve Johnson. He will be

through a fitness test tomorrow

morning and the club will

decide whether they think his

knee will hold up for the grand

final match. At this point

they're just saying he's a

50/50 chance but Cats fans will

be desperately hoping that he

takes to the field

takes to the field tomorrow. I

have to ask you, who's going to win?

win? What's your tip? Well I

think like everyone, few weeks ago you'd have to say

that Collingwood just looked

almost unbeatable but they

certainly got a run for certainly got a run for their money last week against the

Hawks and I think if Geelong

really comes out firing for four quarters they might just

have the edge. So it's the Cats

for me. Lisa Maksimovic, thank

you. An important vote in you. An important vote in Germany has given the green

light to an expanded European

bailout fund for struggling

euro economies. The experts now predicting big changes for the region including the

possibility the single currency

won't survive. What started as

a Greek crisis has a Greek crisis has turned into

a crisis for the euro itself.

It's forcing policy makers back

to where it all began, to where it all began, to tensions deep inside

tensions deep inside the single currency project which have

been there since the start.

Now there are some who are

not satisfied by the not satisfied by the way European politicians are

dealing with the crisis but

you've always moved forward one

step at a time. Behind the

central bank stands the Treasury and behind the Treasury stands the taxpayer, difficulty that we have difficulty that we have in

Europe or in the euro area is

we don't have a euro area

taxpayer. Unless we move and

having a euro taxpayer that

means having some elements of a

political union. The lesson of

this crisis seems to be if

countries share a Curran other things as well including

their debt. But for Germany

that kind of solidarity comes

with strings attached or not at

with strings attached or not at all. Governments may think

I may get into debt as I like

because I will be bailed out

and this you can only prevent

if you have really much

stronger fiscal union where

either national governments or

an EU kind of Treasury can exert pressure on these

governments to limit, no more debt. From the

old style euro to a brand new

one, they're already hard at

work on the ECB's new

headquarters due to be finished

in 2013. The next six weeks

could decide whether the single

currency lasts that long. But

if it does, it will be on

Germany's terms. The economic

crisis is having a flow-on

effect right across the world

but is this bailout the answer? To help us understand To help us understand what's

going on we're joined now by the the host of 'Inside Business'

Alan Kohler. We've just heard

about the increase in bailout funding for Europe, where is

the money coming from and is it

enough to end the enough to end the crisis? Well,

we don't know how much it is

yet but it's going to be borrowed. What they've done is

they've changed the rules of the European financial

stability facility to allow it

to borrow as well. So lit be borrowing money to help fund borrowing money to help fund

the banks that have borrowed money

money to help pay for Greece

that's borrowed money so it's a bit of a Ponzi scheme I've got

to say - borrowing upon borrowing upon borrowing. When

will we know it's enough? They're all a bit coy

about that. It's got 440

billion in it now which was

agreed on in July but everyone

knew immediately within a few

days of that days of that it wasn't enough.

They need about 1.5 twrl

trillion or 2 trillion to get

through so that's what they're

going to need. The taxpayers

don't want to pay all that

money. I mean Germany's in for

250 billion now. It's got to

borrow $1 trillion. Don't know where that's going to come from. We haven't heard much

from the US lately is that from the US lately is that because things in Europe are so bad? I suppose everything's

relative. The US is having a

double-dip housing recession.

The economy is kind of all over

the place, some the place, some bits of the

economy are OK but as I say, the housing sector is bad

consumers are influenced by housing so they're not

spending, unemployment is still

pretty high. So, you know, US

has got plenty of problems but they're just kind of keeping their heads down at the moment while everyone while everyone focuses on Europe. On the other side of

the globe some people are

predicting a massive slowdown

in China? Well, I don't know

about massive. Certainly China

is slowing and it can't remain

unaskts unaffected if there's

recessions in Europe and

America which is looking increasingly likely. But, you know, I mean China, everything's relative everything's relative again.

China's growth has been 9 and

10%. It might slow to 8%,

possibly even 7.5% but, you

know, that's still pretty

strong growth. So I guess it's

just relative. Before you go

can you tell us what's on

'Inside Business' on

Sunday? I'm talking to the

chairman of Connect East Tony

shepered about what's been

going on there. They've just

flogged Connect East to some foreign companies and we've done a big interview into

what's going on commodities market which is

undergoing a big reversal as

well. Alan Kohler, thank

you. My pleasure. Let's go to some other stories making news in business. Investor nerves

and share market volatility is

setting the scene for a record

year of failed company floats.

According to Bloomberg the

value of withdrawn or delayed

stock market listings this year has risen to a whopping $34

billion. Consumers in the United States are being slugged

with more banking fees. From next year Bank of America

customers will hand over $60

per annum just to use their

debit cards. Questions are now

being asked whether other banks

will follow will follow suit. And New Zealand has joined the list of

countries to have its credit

rating slashed by an agency. A

ballooning trade deficit has seen seen its rating slip to

AA. Let's check the markets. Here's Michael Janda. The German bailout vote has given a boost to market? Initially it did but

the market's now flat and not

reflecting the 1% to 2% rise we

saw on most European and US

markets overnight. The All Ords

index is now just up 1 point to

4,069 and the ASX 200 has

actually lost 1 point to

4,007. And there doesn't seem

to be a major trend in any of

the major sectors? Yes, usually

whole sectors generally tend to

move together but not today.

Looking at the miners the big

players are mixed. BHP Billiton's up

$35.14 while Rio Tinto's eased

more than 1%. On the other hand smaller miners are generally

enjoying better gains with

Fortescue up more than 3% and the major banks are also mixed. We've

We've got Westpac down nearly We've got Westpac down nearly 1.5% to $20.28 but National

Australia Bank's up albeit very slightly. And this mixed

pattern is continuing in the

retail sector? Yes, Tracey, the

big supermarkets is split. Wool worths is falling about to $20.18 but on the other hand

Wes farmers is up 0.33% and

even the consumer

discretionaries like the

electronics retailers are

divided with Harvey Norman down

around 0.5%. On the other hand

JB Hi Fi is posting a strong

gain of 1.5%. Looking agent the

other big movers in the ASX top

100:

Thanks, Michael. To Wall

Street and stocks rallied

towards the close after some

better than expected economic

data.

Vegetarianism, drug taking,

in fidelity, corporate life,

they're some of the things you shouldn't discuss at a dinner

party. But they're the main

menu at a new festival of dangerous ideas being held in

Sydney this weekend and Ann

Mossop is the festival

festival originated in a

conversation that the Opera

House's CEO Richard Evans had

with Simon Longstaff where they were talking about really how

cautious people are about

raising difficult issues and

how hard it is sometimes to

have a conversation. And they thought actually we should have

a festival of dangerous ideas.

So that's where the first

festival came from in 2009 and

we're on the cusp of the third festival now. What is a

dangerous idea? Is it just

something that challenges the status quo? Dangerous definitely challenge the status

quo but for them to be really

dangerous for an audience they

have to have some connection.

They have to provoke a personal

response and so they can be dangerous ideas on a large scale scale about government,

politics, should we go back to

communism, somebody, you know,

is torture necessary, those big

philosophical issues but they

can also be an issue that is a

very personal thing that makes

you think and reflect on your

own life. Which topics will you

be covering be covering this weekend? We're

covering everything from the

really dangerous things like is torture

torture necessary,

torture necessary, talking about communism, and then

someone like Jonathan Saffron

talking about what we are and

what we eat which is a

conversation about - merges

from his book Eating Animals.

But we've also got a debate on

the media has no morals with an

interesting line up of people

talking about media in Australia touched on it a bit, but you

think Australians have become too too conservative or too politically correct? I don't think it's something particular

lo to Australia. I

there's a very natural human

tendency not to engage with

difficult ideas. I think what

also is difficult in Australia

is to find a public space for

those conversations. Changes in

the media and so on have really

sent people to some degree to

these kind of live events and

it's a great place for people

to come out and actually engage in person with these important

thinkers. In the end are you

expecting any real controversy

or is it just a bit of

fun? Well I don't think people

will be storming the Opera

House steps to throw stakes at

Jonathan Saf Saffron but people will be provoked and

challenged and have their ideas

turned upside down in some

cases but there are elements around the festival that will potentially really exercise people. For example our performance

it is they come along with a

hammer and a snail and you

decide what happens. So that's

going to be something that will

get people excited. Ann Mossop,

thank you. Pleasure, thank

you. Let's have a quick look at

other stories making news

around the world. Shell has closed part of its Singapore

refinery after fire raged for a refinery after fire raged for a

second day. The plant on an

island 3 kilometres offshore

produces 500 ,000 barrels of

petroleum product has completed what it believes

is the most accurate census to

date of near earth rr

asteroids. Its survey has

charted 93% of the largest asteroids. And a cat with two

faces has set a record for

longevity. Known as Frank and

longevity. Known as Frank and

Louie, it's the longest surviving member of a group

named Jane yus cat. A throng

with a some crammed Street Mall in Brisbane. They

were all barber shop singers

fieckting - fighting it out to be the best if be the best if 4-part harmony. With 1,000 barber shop

singers you can probably take

any city in the world.

Resistance is just useless,

just give in and sing.

In a world with catastrophe and someone is in harmony. Although

they're prity competitive. Oh,

very competitive. Not very competitive. Not

competitive at all! Long

thought of as an old man's club, barer shop's recruiting from skate board from skate board riders. Just

harmising is an amazing

feeling. It's incredible. These

championships are for the Asia

Pacific rim if but the world's

top barber shop chorus has come

from the US to show could be done. could be done.

(Sings) # Baby, baby # (Sings) # Baby, baby # The

yanks invented barber shop,

they have the right to take it

to new realms and along the way

they find new followers. I they find new followers. I love it. You can't stop singing.

Maybe the EU should People from many lands singing

the same song and holding the

same notes. When it comes to

renovations it's all about

location, location, location.

And 17 chimpanzees in Sydney

have one of the best. They're

spending the day getting adjusted to their newly

renovated quarters at Taronga

Zoo l Zoo. It neert features giant

giant towers and hammocks. The

display also includes an

expansive glass area and tunnel

systems allow ing zoo visitors

to get up close and personal

with the animals. To the weather now and around the

capitals cloud along the NSW

and Victorian coasts easing

offshore with a front, bright

cloud with a deepening low cloud with a deepening low and

trough over the Bight trough over the Bight moving

onshore in South Australia and

cloud along the west coast. A developing low and trough

should produce scattered shower

and isolated storms over Victoria, NSW and southern Alps. Another trough should

bring isolated showers to the

Northern Territory and WA. A high pressure system should clear showers from South

Australia. Around the capitals:

That's the news for now.

There's continuous news on ABC

News 24. Our next full bulletin

on ABC 1 is at 7:00 this

evening. Closed Captions by CSI

Ladies and gentlemen, welcome. Welcome to the opening ceremony of the Ellis Bell Satanic Experience.