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ABC News -

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(generated from captions) Live.

Tonight - everyone's a

winner. The Cup Day

cheered a nation. This will be

a welcome relief for Australian

families who are under cost of

living pressures. Running the

gauntlet. A Central Coast

teenager finally faces court in

Bali. And - could the big race

Dunaden and Red Cadeaux. the have been any closer? They hit

Nothing in it!

Good evening. Welcome to ABC

News. I'm Virginia Haussegger.

You didn't have to back Dunaden

in the Melbourne Cup to end up

a winner today. For the sixth

year in a row the Reserve Bank

adjusted interest rates on the

first Tuesday in November. The

RBA shaved a quarter of 1% off

the official cash rate. Banks

were quick to pass it on and

some economists believe there

could be more cuts next year.

This isn't the first time the Gillard Government's seen a photo finish. Whoa! photo finish. Whoa! That's amazing! The Reserve Bank's

decision was a safer bet. Oh my

goodness! It's the sixth year

in a row it's moved rates Cup Day. The Reserve Bank in a row it's moved rates on

today has announced it will cut

the official cash rate by 25

basis points to 4.5%. As a

result, a home owner with a $300,000 mortgage will save

nearly $50 a month. 550 a

year. This will be a welcome relief for Australian families who are under cost of living

pressures. Will the Prime

Minister guarantee that the

banks will pass on to Australian households in full the cut in interest the cut in interest rates? The

Australian community is looking

to banks now today to announce

that they will pass this

interest rate cut on in

far. Westpac moved first, the full. Hear, hear! They have so

Commonwealth followed. It's the

first official cut in 31

months. The Reserve Bank thinks

fears about Europe will persist

and that could hurt confidence in Australia. Overall growth is

mod rate, the governor said in

his statement. Inflation is now

likely to be close to target and

and confidence is subdued

outside the resources sector. I

suspect that this is going to

be only 10 minutes of economic sunshine. Not so according to

the markets. They're punting on

more cuts to come. Let's hope there's some and Melbourne Cup Day and let's

hope that it's down, let's hope

it's at least another three

quarters of a per cent between

now and the middle of next year. The market's pricing in

the pocket of a pre-Christmas

cut. But exactly what the

Reserve Bank does and when it

does it depends on what happens

in Europe. Julia Gillard's

She's on her way to France for flying into that storm tonight.

a meeting of the world's

biggest economies.

Indonesian authorities are investigating

investigating reports an A Police Commissioner there seeker boat has sunk oaf Java.

says around six people are

reported dead, 18 reported dead, 18 are missing

and 46 have survived. And

another boat carrying asylum

seekers has been stopped

Christmas Island. A navy patrol

intercepted the boat a short

distance north of the island. It was carrying around 92

passengers. And is the second passengers. And is the second

boat to be intercepted in three

days. The passengers are soon

due to arrive on Christmas Island for detention and

processing. The Australian

teenager facing drugs charges in Bali has court appearance in Denpasar.

The hearing lasted barely an

hour before being adjourned

until Friday. And although the

proceedings were close ed to

the media and the public the teenager still had to fight his

way into court. The ABC's

George Roberts reports.

Wrestling, fending and fighting

boy their way through. Police, the

boy and his security guards

slowly made their way slowly made their way towards

the courtroom. Earlier, he and

his mother made a

detention centre only to be met

by the waiting scramble. The Chief Prosecutor was just

hoping his five witnesses would

turn up. Two from

and two from the public witness

and one from the doctor. After

all the fuss, it was all over

in less than an hour. They have

the ceremony, so they cannot

come to the court today.

Friday, before the teenager can They're expected to front on

make his case against jail

time. He faces three possible

charges, but unlike the

Australian system, he

find out which one applies to

him until the end of the case.

The harshest carries six years

in jail. The special attention

this case is getting has

lawyers prosecutors and the judge supporting better

treatment of young offenders in

Indonesia. The teenager's lawyer says the case could

serve as a precedent to improve

the juvenile justice system.

For now, both sides want the case finished in case finished in a couple of

weeks. As the defence lawyer,

we are always confident. Ha ha

ha! Has he been cooperative? He

is. He's a good boy, yeah. OK,

thank you. Sympathy perhaps,

or just hoping the ordeal will soon be over. The French have done it

again, with Dunaden in a photo

finish that stopped the nation.

It was the tightest result in

the Melbourne Cup's 151-year the Melbourne Cup's

history. For nearly three

balance before Dunaden was minutes the race hung in the

declared the winner by a

whisker from Red Cadeaux. Lucas

Cranach was third. It was the

Australia. Christopher Lemare winning jockey's first ride in

flew in only yesterday as a stand-by rider for the

suspended Craig Williams. The

party started at dawn. Cheers!

Cheers! Because we're so

is our first Melbourne early, we need more food. This

We're not from Adelaide. Came from Victoria. First time

here. We haven't missed one in

22 years. With Qantas

struggling, there was plenty of

alternative transport. But air space was space was still crowded for

those dropping in. Steve Waugh

got his own fanfare. And Quentin Bryce made the

biggest Cup impression by a

Governor-General since Sir John

Kerr. But as much as the

A-listers like to crash the

party, the Melbourne Cup has

always been the people's race.

And the Smurfs. There were

bed eight but one didn't get out of

seven Smurfing today. With the bed this morning. We're down to

legs of the double worth a

gamble some colts were kept on

a tight rein. An eagle on

to keep the seagulls away and

the betting plunge was on the

Hawks stable. The money has

been on Kneewhat. Many had a since of deja vu. Americain!

Sally Pearson and Cadel Evans

presented the Cup before the start.

start. They're off. Illo made

the course. It had been tipped

as a wide open Melbourne Cup.

As they came around the final

bend, a wall of horses lined up

for a tilt at glory. runner had a chance to win.

Lucas Cranach hilt the lead.

Red Cadeaux coming down the

outside. Dunaden is outside. Dunaden is coming

through in the middle. Dunaden,

Red Cadeaux, and Lucas Cranach.

Dunaden is coming hard.

Dunaden, Red Cadeaux. They hit

the line. A photo finish between Dunaden and Red

Cadeaux. Nothing in it. There was

was something in it. But it the closest margin in Melbourne

Cup history. With Dunaden on

the inside getting the

nod. It's a great moment for

me. And this is incredible.

I'm still shaking. It's

amazing. We don't realise yet. Craig

Craig Williams would've been

riding Dunaden if not for

suspension. Had he won he

would've been the only jockey

to win the Caulfield Cup, Cox

Plate and Melbourne Cup in the

same year. I'm very sorry for

him. He is a good friend of

mine. There was deja vu.

Victory again went to the

Geelong Cup second year in a row, the French are celebrating

Melbourne Cup success. Locally, Canberrans turned

out in force for Cup meeting at Thoroughbred

Park. Almost 6,000 punters

frocked up to bet on local

races, and watch the drawcard

event on the big screen. It's

the second year since the ACT

public holiday was dispensed

with, but that didn't stop the betting. Although 7% down on

last year, local punters bet

2.25 million dollars. The numbers are lower that's not a

bad thing. The facilities

probably struggled with 13,500 people. This is a comfortable enjoyable day. There is no

queueing. Everyone can have a bet and a drink and buy some

food N is positives about it. There

There will be a heavy police

presence on the capital's roads

and at nightspots as the

partying continues. The

backlog's been cleared but the financial fallout from the

Qantas shutdown is still being

tallied. Nearly 100,000 passengers had their plans disrupted. Insurance companies are urging them to

get what they can from Qantas

before making a claim. Here at

last. These passengers flew last. These passengers flew in

from LA this morning, after

days of uncertainty some were

more understanding than

others. The head steward

apologised and also the captain

apologised, so as far as we're

concerned, yeah, there were some problems but Qantas really

made up for it. Don't talk to

me about Qantas! I just can't

hack them at all. Would you fly

them again? Not if I can avoid it.

it. The airline's control

centre had flights back to

normal by this afternoon. We've had four international

supplementary flights and two

domestic today. We've just put

together a special flight to

Alice Springs to pick up some

doctors that are up there, get

them back to where they need to

be. Qantas is offering flight refunds and some xen says, up

to $350 per day for out-of-pocket expenses. out-of-pocket expenses. But

under EU laws, passengers

stranded in Europe may be

entitled to 600 euros. Consumer groups

groups in Australia say Qantas should offer the same to others. If Qantas will have to

pay up in Europe as we believe

they will, they should show

some generosity and pay out a similar amount to people stranded around the world.

Insurance companies say

passengers should get back what

they can from Qantas before

claiming on their travel

insurance. But even then, some

out-of-pocket expenses may not

be covered because of an

industrial action clause.

Still, passengers are urged to

apply. They're taking a pretty

open approach. They're treating

every days on its merits. There that team have. Talks to strike a deal between Qantas

and the unions are under way

after the fair work ruling, but if nothing is achieved, the Transport Workers Union is

keeping the option of an appeal

up its chief. --

up its sleeve. For the first

time, Palestine has been

admitted as a full member of a United Nations agency.

Membership of UNESCO the UN's

Scientific and Cultural

Organisation, could boost Palestinian hopes of statehood

but the move has angered Israel and the United consider the peace process is

now in more danger than ever.

From Gaza here's the ABC's

Michael Vincent. A thal lee of

votes and history was made. -- tally. The general conference

has thus voted to adopt the

draft resolution and decided to

admit Palestine as a member of

UNESCO. It's international

recognition for the Palestinian

people who want an independent

state. Israel is trying to

prevent us from having a place

on the map. And we are trying

on the map. It's not what

Israel wanted. And it's reacted angrily. We regret that the

organisation of science has

opted to adopt a resolution

which is a resolution of

science fiction. More than 100

countries voted yes, but

Australia and Israel sided with

the US, who tried to stop the vote. Today's vote by the

member states of UNESCO to

admit Palestine as a member is regrettable. Premature. And

undermines our shared goal of a

comprehensive, just and lasting peace in the Middle East. The

full membership will

for us, especially to face the

deliberate destruction of the

cultural heritage by the

occupation. All across the Palestinian territories there

are countless cultural and

historical sites. Some date

back thousands of years. Others have profound religious

significance. It's this 1,500-year-old Byzantine church as well as as well as the Church of the

Nativity which the Palestinian

Authority now register as World

Heritage sites.

A new Prime Minister has been elected in Libya to oversee the country's transition to democracy. The National Transitional Council chose

academic and businessman Abdul

Rahim al-Keeb to rebuild

Libya. We guarantee that we'll

build a nation that respects

human rights but we need

time. The new Prime Minister is not well known he lived abroad for decades. In

two weeks he will appoint a new

government that will pave the

way for general elections. The

ballot coincided with the end of NATO's of NATO's seven-month military

operation that helped overthrow

Muammar Gaddafi. Historic laws

passed in Parliament today have

significantly strengthened the rights of the ACT and the

Northern Territory. The Greens Bill means individual Bill means individual federal

ministers no longer have the

power to veto Territory law.

Those laws can now only be

overturned in both houses federal - if both Houses away.

It's the first Greens Bill to

become law. It's fantastic we

are passing a Bill that

restores the democratic rights

of people in the Territories

the point now where they are as

close to equal as we can get

under the constitution to people who live in the States.

The opposition tried to amend

the legislation to make sure

it's not used to legalise same-sex same-sex marriage. Labor

supported the Bill, saying

federal marriage laws still well and truly off Canberra shopping lists . From today

it's against the law for shops

to provide them to cut of

unless they're made of

degradable plastic. In a drive

towards sustainability the ACT Government is trying to get

shoppers to bring their own

carry bags. Out with the plastic and

plastic and in with the

sustainable. The ban on plastic

bags began today and most

shoppers came prepared. I just reduced the brought. Store owners have had

four months to phase in the

ban. There is always

occasionally people that feel they've been infringed on their

rights but we've rights but we've looked after

them and we've gone over to the

base quite easily as

well. Around 64,000 bags end up

in landfill in the ACT each

year echt that's almost 200

bags per person and a

significant number are getting

there because people put them

in their recycling bins. We're

hoping that the ban on plastic

bags will see a reduction in

the amount coming through in

ultimately end up in

landfill. It takes between #00

and 1,000 years for a plastic

bag to break down. The

degradable ones can break down

in just six weeks if in just six weeks if exposed to

the sun, 12 years if they're

buried in landfill. Shoppers

have the option of bringing

their own degradables or

getting one from the store. The government

government is not requiring

retailers to charge for these

bags. It will be up to individual retailers who they

choose to do. Some retailers

may impose a small charge.

Others won't. The government

expects an initial surge sales of bag liners, but after a similar ban in South

Australia, bag liner sales

eventually fell. That dropped

down again. And even though it

was at levels higher than

previously, the total amount of plastic being consumed for bags

had actually reduced significantly. Individual

shopkeepers who provide the old

bags could be fined $110,

rising to $385 for bigger

retailers. The ban will be

reviewed in two years.

The big supermarket chain

Woolworths is poised to

announce the doubling of its

range of Woolworths branded groceries. Manufacturers

competing labels also sold in the store

the store are accusing the company of trying to shut them

out. Private label or home brand products are spreading across more and more of across more and more of the supermarket shelves. What it

means to consumers remember is

less choice. It means that they

won't necessarily have access

to the brands that they know.

Private label products carry

the supermarket's They make up more than 20% of the entire grocery market.

That's up from 12% five years

ago. Supermarkets like private

label because they can make

more money on every product they sell. Coles has had more

of a focus on private label

goods but now Woolworths is

expected to announce the

doubling of its in-house products. Branded manufacturers

say they are losing the hotly contested battle for

supermarket shelf supermarket shelf space. Both major supermarkets give the best shelf branded products. The

competition regulator says it's

watching to make sure there's no misuse of market

power. Australian supermarkets

have a much lower level of private label

they do say in the UK and the

US. Now if the supermarkets are

signalling that they'll greatly

expand the level of private

label products, then we need to

make sure that we're doing that

in a way that's not anti-competitive. Woolworths

was not available for any

oncamera comment today. Tomorrow the company will unveil its broad in the face of some very tough

competition from rival

Coles. Woolworths has suddenly

got a genuine competitor on its

hands. It hasn't had one in market for some time. He says

for better or worse, private

label brands are one of the key


Heads of the world's leading

20 economies meet in France later this week, charged with

plotting a course away from the

session. And they're likely to

have their work cut out with

doubts mounting about last

week's Greek bail-out deem and

explosion in unemployment around the world. From London, Philip Williams reports. The International Labour

Organisation issued Organisation issued a dire warning that unless of jobs are

at risk because of the economic

slowdown. In its latest report

the ILO says the drastic effect

on employment means that 80

million new jobs would need to

be created over the next two

years, just to get back to the pre-crisis employment. In the

UK, economists warn time is running young people unemployed right

now. It's soon going to hit the

million mark. We need to try to

get young people back into jobs

now. The ILO also warns potential social unrest in 45

of the 118 countries it

studied. The Greeks and the

British know all too well about

that. In another report that. In another report the

OECD says the Eurozone rescue

plan last week was vital, but

it's still downgraded growth

forecast there is for 2012 from

2% to just 0.3%. And the US was halved to just 1.8%. Not

exactly the path to full employment. Employment is the

elephant under the table. No,

it's not the elephant under

table, it's the elephant on the

table, on top of the table. We

don't deal with employment, we haven't dealt with the crisis. With some economies in a

precarious state, the G20 in

sphrans a timely gathering. Negotiations have been made

more tense with the news the

Greek Government will put the

Eurozone deal hammered out last

week to a referendum, one they

could lose. The message for leaders at the the upcoming G20

is that decisive action is crucial. Whole economies and

millions of jobs depend on it.

To finance now. The local

share market slumped to where

it was before last week's big European rescue package. That's

because new doubts have emerged

about whether it will last.

Here's Alan Kohler. The

Europeans have a melancholy

habit of snatching defeat from

the jaws of victory. Today's

kick in the ankle was the Greek

Government's decision to put

the latest bail-out and austerity package referendum. Oh no, said the

markets. You're not going to

ask the people, are you?

European share markets slumped

on the news led by next cab off

the the crisis rank Italy. The Italian 10 year government bond

yield jumped back to above 6% where it was before the

European Central Bank started

buying its bonds in August to

settled things down. Since then

markets have deteriorated

steadily as a tug-of-war played

out over whether the ECB should

be a money printer like the US

Fed. With Germany the only against side of the debate. Last

Last week's grand rescue plan

was meant to paper over the

differences but has failed.

Meanwhile, there was a small

rate cut in a land far away.

There was a weaker than expected manufacturing index

out of China. The official PMI

fell from 51.2 to 50.4 fell from 51.2 to 50.4 when

most boffins expected it to

rise. It's been in

down-trend since the start of

last year but at least it's still

still above 50 which indicates

that the economy is expanding.

That's finance. America's east

coast is cleaning up after unusually early snowstorm. At

least 12 people died in the

blizzard which dumped more than 70 cm of snow in Connecticut,

Massachusetts, New Jersey and

New York. The monster storm

caused transport chaos and left

more than 3 million people without power. It also forced

the cancellation of many Halloween celebrations. As New York's governor Andrew Cuomo

ruefully noted. Trick or treat,

I think mother nature played a

trick on us. The bliz around

tested the resolve of Occupy Wall Wall Street protesters but they

say they're determined to stay

put even if the cold weather

sets in. A report commissioned by Surf Lifesaving

by Surf Lifesaving Australia has found climate has found climate change

presents a threat to more than

half of its clubs. And it says

the most exposed of them may

have to relocate if they

continue to be damaged by

extreme weather and tides. 310 surf-lifesaving clubs are

dotted along Australia's coast.

Many haven't been weathering

well. When you physically see damage to buildings that people

have put their heart and into building, providing the service, it's devastating.

Concerned about climate change,

Surf Lifesaving Australia

launched an investigation, using information from

geosciences Australia, it

discovered 63% of its clubs are

in potentially unstable areas.

Some of those most at risk, Sea Spray in

in Queensland. They are on

primary dune systems and are at potential risk of severe

erosion. In Victoria, 48 clubs

are under threat from climate

change. The hard decisions are

really where do we go? If we're

in prime positions in prime positions particularly

on sand dunes, it will be realistic to know that perhaps

that can't be. Surf Lifesaving

Australia says with so many

people moving to the coast,

clubs must remain in prime positions with

positions with good access to

the beach. It wants more money from the Federal Government to conduct vulnerability assessments facilities.

New Zealand's Rugby World Cup

winning coach Graham Henry has

decided to step down. The

65-year-old took over the reins

in 2004 and coached the side in

140 Test matches. Henry's

finest moment came just nine

days ago when the All Blacks

beat France in the World Cup

final in Auckland. Assistant

coach Steve Hansen is frontrunner to take over. I've

been involved in 140 Test

matches now and it its toll. I didn't particularly

enjoy the last 20 minutes of

the game against the French in

the final of the Rugby World

Cup. But I had made that decision. And decision. And prior to that.

Henry says he told the players

last week shortly after their

World Cup victory parade. Now

here he is with all our weather news. Mark Carmody. Good

evening. Now that the Cup has

been run and won, we Canberrans

can get on with doing what most important job in the garden for

the year. Planting your

tomatoes outside without the

fear of a big frost but I will

warn you, that one is coming.

The Alice got 21 mm of rain

last night. And most of the

south-east is clear. And that's

mainly due to a high centreed

in the bight that's extending a ridge ridge over our region. A front

will move up the coast

tomorrow, bringing possible

showers and cool winds with it.

Virginia, this yellow rose

says it all. A showy fun day

without a winner for both of

us. Thanks, Mark. And before

we go a brief recap of our top

stories tonight. The Reserve

Bank has cut interest rates by

a quarter of a percentage

point. The first movement in more than two

years. And French horse Dunaden

has won the Melbourne Cup in

one of the closest finishes in

the 151 year history of race. And that's the news for

now. You can keep up to date 24

hours a day on ABC hours a day on ABC News

on-line. But stay with us now

for 7.30 with Leigh Sales and

Chris Uhlmann. From me for now,

goodnight. Closed Captions by CSI This Program is Captioned


Welcome to the program, I'm

Leigh Sales. Coming up - I'll

be joined by the Shadow

Treasurer Joe Hockey and the

winning trainer and jockey from

today's nail-biter of a

Melbourne Cup. First to a

breaking story out of Canberra,

what's believed to be a asylum

seeker boat has sunk off Java

in Indonesia, a number of

people are dead. Home Affairs

Minister Brendan O'Connor has

just given a press conference

on the tragedy. I'm here to

report a tragic event in

Indonesian waters where a

vessel has sunk which has - in

Indonesian waters off the coast

leading to advice that I've

received from the Indonesian