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ABC Midday Report -

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Don't talk down the

economy - the bottom line of

the Reserve Bank governor.

I've tried to get people to see

half full rather than half

empty, because I do think we

risk talking ourselves into

more gloom than we really

should. Who do you believe?

The last-minute chase for vote

in the Northern Territory

election. I think there is a

mood for change. We've had 11

years of Labor. The mood is

very good out there. I'm not

detecting a big desire for

change. The jury's out in the

battle of the Smartphone

titans. The pinch to zoom in

and zoom out, and the double

tap. It's little things like

that Apple say they invented.

And, Australia's Olympians

celebrated in the State which

produced the most gold.

Hello, and welcome to ABC News

across Australia, I'm Ros

Childs. On the local

sharemarket, the telecomes

sector is the only one making

headway at the moment.

More finance later in the

bulletin. The Reserve Bank

governor has denied there was a

cover-up of corruption

allegations involving two of

the bank's subsidiaries. Glenn

Stevens has faced a

parliamentary committee in

Canberra. He's also discussed

the economy saying it's in a

good position to weather

anymore global unrest. Kerrin

Binnie reports. He keeps an

eye on the economy and is

fairly upbeat about the future.

I'd probably describe myself

as cautiously optimistic.

Glenn Stevens has fronted

Parliament's economic committee

to give his assessment. I've

tried to get people to see half

full rather than half empty,

because I do think we risk

talking ourselves into more

gloom than we really should.

He points to Australia's

relatively low unemployment

rate and inflation within the

Reserve Bank's target range.

The rate of investment in

mining projects is expected to

ease, but exports will

increase. There's already

pressure on the cost side for

the resource companies doing

what they're doing and you

probably just can't do

everything that people have

post lated could be done. Mr

Stevens is alert, but not

alarmed about the situation in

Europe. I have begun to

wonder whether we in Australia

worry about the Greek economies

more than the Greeks do. The

bank is keeping an eye on it for any potential ripple

effects. It will be quite

some time I think before the

Europeans will be able to say

that these problems have been

put behind them, even if things

go well. Should it come

unstuck, Australia's in a good

position. We're still fairly

well equipped to handle some of

the things that could goo

wrong. Eight former

executives from two Reserve

Bank firms are facing

allegations they paid bribes to

win contracts overseas. Mr

Stevens has denied there was a

cover-up. There was no

attempt to hide any

information. These are serious matters, which do deserve to be thoroughly

investigated. That is what the

Reserve Bank has been doing.

Glenn Stevens says the Reserve

is compiling a folder of

documents which it will give to

the committee when the court

processes allow. If the

bookies are anything to go by

the Northern Territory could be

the next domino to fall for

Labor Governments around the

country. Voters there will

decide tomorrow whether to give

Labor a third term in office,

but the only major poll

conducted suggests the Country

Liberal Party has its nose just

in front. Here's political

reporter Jane Bardon in Darwin.

How close is it? At this

stage, it is still too close to

call. A poll in the Northern Territory newspaper did record

a swing towards the Country

Liberals in four key seats and

the Country Liberals have built

up momentum during their

campaign, but the Country

Liberals are suffering

credibility problems after the

Northern Territory Treasury

found a $97 million hole in

their election commitment

costings and the Labor leader

Paul Henderson says that means

they would have to cut public

service jobs. The costings

that Terry Mills finally,

finally gave to Treasury

yesterday after hiding them for

a week showed very clearly that

he does have a plan to sack

thousands of public servants.

So Jane, how are the Country

Liberals responding to Labor? The Country Liberals leader

Terry Mills has completely

denied there's any plan to cut

public service jobs. Those

who are serving the public,

those public servants who have

nothing to be concerned about,

in fact in some areas we'll

need to expand it. It's those

political operatives working in the interests of the Labor Government who are basically

Labor Party operatives. Is

Terry Mills experiencing any

problems getting that message

across? He certainly is.

Although the Country Liberals

have said that Labor's spin

doctors would go, there's still

a grey area about what would

happen with senior managers in

the public service, because the

Country Liberals Treasury

spokesman has said that people

earning over $110,000, all

their positions will be

reviewed. So there's different

messages coming out and it is

creating a problem for the

Country Liberals on the last

day of the campaign. Jane,

thank you. There's been a

breakthrough in the search for

in Darwin with the discovery of a woman abducted at gun point

the get-away car. 25-year-old

Monique Edmondson was seized by

a man who forced his way into

this woman's shelter and opened

fire on Wednesday. A major

crime task force has been

hunting 26-year-old suspect

Joshua Walsh ever since and a

second unidentified man. Now a

third accomplice has been named, she is 23-year-old Joan

Bowen, who also goes by the

name of Joan Foster. We

believe her to be presently in

the northern suburbs of Darwin

and the police would be keen to

hear from any member of the

public who may be able to

assist us with her present

whereabouts. The car used in

the attack was found overnight

and is undergoing forensic

testing. Police say it's

provided valuable clues in the

search for the abducted woman.

Police say Walsh is extremely

dangerous and should not be approached under any

circumstances. The Olympic

caravan has moved onto Brisbane. Queensland sports

fans are getting the chance to

welcome home their heroes and

get the odd photo and autograph

as the big celebration parade

hits down. John Taylor is

there. If the scenes we've

seen in Sydney and Melbourne

are anything to go by,

excitement levels must be

pretty high by now? There's a

real buzz in the air, and

certainly there's a lot of

noise, too. But thousands of

people are here in the Queen

Street Mall. Some people got

here at least an hour ago and

what they're doing is they're

parading for about half a

kilometre before there'll be a

ceremony a bit further from the

heart of the city in which the

athletes will be presented the

Queensland Coat of Arms and

also the keys to the city of

Brisbane. After 32 days of dry

weather it looked like it might

rain today, but it's held off

thankfully. Queensland has

made a lot of the fact that

many of the Olympic stars are

from Queensland? Look, that's

right. If the Gold Coast alone

were to compete as its own

country, it would have flogged Australia. Queensland

Australia's extremely well

represented in the medal tally.

If you run through some of the

names, Anna Meares, Sally

Pearson, Christian Sprenger,

Britney Broben, Emily Seebohm,

Bronte Barratt, they are some

of the big names that come from

Queensland and won medals.

There were 90 Queenslanders

that represented Australia at

the Olympic Games and 77

athletes are here today. So

John, where next? What next?

Well, this is the never-ending Olympic welcome home

celebrations in a way. They've

already been held in Sydney and

Melbourne. From here, it's

Perth, Hobart, Darwin and

Canberra. Olympic proportions,

but in a way, this celebration

is not so much for the athletes

as it also is for the community

to celebrate the achievements

of athletes from Queensland,

but also from the rest of the

country. John, you deserve a

medal for battling noise levels

there. Thank you very much.

One of New Zealand's run-away

millionaires has been sentenced

to four years and seven months

in jail. Gao, also known as Leo Gao was arrested last year

in Hong Kong and his partner at

the time Kara Hurring was

arrested early last year. She's been given home detention

for nine months. The couple

went on the run after Westpac

bank transferred $9 million

into their account in 2009. Dominique Schwartz is on the

line. What's been the reaction

to these sentences? Leo Gao

in court today basically showed

no emotion. Throughout most of

the sentencing he sat with his

eyes downcast and indeed when the sentence was handed down it

was very much the same. He

just looked down as the judge

read out his sentence. Kara

Hurring showed some emotion.

She looked to be relieved when

the judge gave her a period of

home detention and outside the

court afterwards she said she

was very grateful she wasn't

going to jail. This springs

from events starting back in

April 2009 when Leo Gao applied

for a $100,000 overdraft for

his petrol station business in

Rotorua. He already had an

overdraft and he wanted that to

be made permanent, but due to a

clerical error, $10 million was

put into his overdraft. Now he

transferred $6.7 million worth

of that to accounts in New

Zealand, Hong Kong and China

and then fled the country,

followed later by his then

partner Kara Hurring. He was

arrested late Laurent Hong Kong

border and in sentencing the

judge said that he'd shown no

remorse, not offered any help

in recovering the $3.8 million

which Westpac is still trying

to find and that he had showed

a determined and persistent

effort to get as much of the

money out of the country as

soon as possible. The judge

did discount his jail term,

though, for Gao's guilty plea.

He pleaded guilty to seven

counts of theft. Now Kara

Hurring in contrast did not

plead guilty. She was found

guilty of 30 counts of mainly

theft, but two of money

laundering. But the judge said

she had played a secondary role in the crime. She was

basically an assistant to Gao.

Now she signed the documents

which set up an account at a

Macao casino used to launder

about NZ $350,000, but the

judge said she was a mother of

two, and that because of her

secondary role he was happy to

see her in home detention

rather than jail. Thousands of South Africans have been

attending memorial services for

those killed at the Marikana

platinum mine a week ago.

Politicians stayed away from

the services, but President

Jacob Zuma announced a widespread inquiry into the disaster when police opened

fire on striking miners.

Candles burned for the dead.

They offer little solace,

though, to the grieving

families of those killed. One

of the darkest days in South

Africa's modern history is

being marked here. A judicial

inquiry will seek to find

answers to why so many lost their

their lives. Somehow, this man

survived the police onslaught.

Shrapnel marks pock his swollen

face. He still limps from his

injuries. TRANSLATION: I am

deeply saddened by the turn of

events. We're demanding a

better wage from employers. We

didn't know these people would

kill us. It was today a week

kill us. It was today a week ago that police officers opened

fire on strikers who charged

them with weapons. ... gunning

down 34 miners leaving over 70

wounded. Today at Marikana,

the hill that strikers first

occupied is a place to reclaim.

They reiterate their demands

not to give up the fight for not to give up the fight for

better wages. With copycat

strikes feared, the industrial

dispute has already spilled

over to other mines. The

management have been forced to

shut operations for over a week

now. They're urging workers to

return after the mourning

period. Painful memories of

apartheid have been resurrected

in this community. President

Jacob Zuma has called on the

mining sector to examine the conditions of its workers, but

the Marikana massacre as it has

come to be known, has opened a

fresh wound in South African

history. One of the biggest

financial supporters of Queensland's Liberal National

Party has donated money to help

public sector workers who've

been sacked by the State

Government. Mining magnate

Clive Palmer has offered the

Together union $250,000 to set

up a hope fund for counselling

services and vocational

training. The billionaire says

he's worried about the impact

of the Government's strategy in

cutting public service jobs to

tackle the State's debt. I'm

sure the LNP as an organisation

is trying to do the best they

can for the State of Queensland, but they're being

sacked by the Queensland

Government. The business

community and the Queensland

community is gravely krnd about

the human cost of these changes

and what Clive is doing is

putting his money where his

mouth is. The fund will be

overseen by Mike Ahern and Jim

Elder. A jury in Silicon

Valley in California has

retired to consider its verdict

in the battle of the world's biggest high-tech companies.

The decision it has to make -

did Samsung rip off Apple? They

say they deserve more than $2

billion worth of compensation.

The case has far-reaching

implications for how companies

innovate and what that means

for consumers. Nick Ross is

the ABC's technology editor.

Before 2007, these Smartphones Before 2007, these Smartphones

were the realm of tech

enthusiasts and the I phone

came along and changed

everything. It got the public

very interested in mobile

computing and mobile phone

calls using the Internet. It

changed the nature of Telecoms. People thought mobile phones

were predominantly about making

phone calls and suddenly they

became mobile computers for

accessing the Internet and they

changed the way pretty much the whole world accesses the

Internet. To say that Apple

invented these Smartphones is a

bit off really. Apple argues

the facts speak for themselves. It took them four years to

develop the I phone and then

Samsung came out with a similar

device just three months later?

That's a bit of a harsh

accusation from Apple there,

because many competitors were

making Smartphones at the time making Smartphones at the time

and anyone who watched 24 back

at the time will remember the

PDAs being waved around, which

were like an I phone. These

devices aren't entirely new,

but one of the big problem has

been tablets and Samsung's Galaxy tablet was supposed to

look like an iPad. I have them

here, you can judge for yourself how similar they yourself how similar they are.

That's about trade dress, that's where people are

actually buying one thinking

it's the other and that's a big

concern Apple has. The other

problem Apple has is people

infringing patents like swiping

to unlock and there's this

bounce thing where if you pull

the Web page down it bounces

back up. That's a design touch

everyone else has everyone else has copied.

Things like that is what is

being discussed here and

whether Apple is owed money

from Samsung and the whole

industry on that matter. It

seems they have the potential

to restrict development and

also bump up the cost of

technology? Yes, well, there's

a bit of a problem here.

People are inventing patents

rather than patenting

inventions and what's that

doing, we've seen a whole

industry thrive call patent

trolls. They're suing

companies that use them or

forcing them to pay use licence

fees. Patents were supposed to

protect inivators, but now

they're used to stop innovating

and if everyone is going to get

sued - which is why people are sued - which is why people are concerned about what happens if

Apple wins this case. German

and French leaders are urging

Greece to push through the pain

and push through with its

reform program. They're soon

to meet with the Greek Prime

Minister. From Chancellor

Merkel's office, she can see a

country that has largely been

isolated from the Eurozone

crisis, but despite the forest

of cranes, even the Germany

economy is slowing. When the

French president swept into

Berlin tonight, Greece once

again topped the agenda. The

Greeks are seeking extra time

to make the savings that are a

condition of its bailout.

Chancellor Merkel was clear -

commitments made had to be

honoured. TRANSLATION: It's

porn for me that we all stick

to our commitments, but I will encourage Greece to encourage Greece to continue

along its path of reform which

has demanded a lot of the Greek

people. The French president

was careful to ensure his

message chimed with that of the

German Chancellor. TRANSLATION: We want Greece to

stay in the euro, it's up to

Greece to make the efforts to

do that. Neither leader

addressed whether Greece should

be given more time to meet its targets.

targets. Over the summer, the

mood in Germany has hardened

against further concessions.

This family business outside

Berlin makes and repairs

heating systems. Frank said

"You can help Greece, but at

some stage it becomes a

bottomless pit. " Let them

leave the euro and we'll see

how they do. The Greek Government is on Government is on a European

charm offensive, but the German Foreign Minister today said

giving Greece more time is not

a solution. Today marks the

third anniversary of the

introduction of digital radio

in Australia and listeners had

a chance to see not just hear

their favourite programs go to

air. Thousands of people

turned out in five capital

cities this morning as

breakfast hosts broadcast

side-by-side. Industry insiders say

insiders say the medium has progressed rapidly since

entering the media landscape in

2009. We've sold nearly one

million sets in that time, 1.3

million Australians listen to

it each and every week. They're compelling statistics.

This is all about the medium of

the future and where we go in

the next decade. The next

stage in the expansion of

digital radio is getting sets

installed in new cars. Time

for a check of the market with

finance reporter Sue Lannin. A

fall in profit for Woolworths?

Yes. The supermarket giant had

to write down the value of its

Dick Smith electronic chains

adds it closes down and sells

off the stores. Annual profit

dropped nearly 15% to $1.8

billion. So that's less than

the annual earnings of its

rival Wesfarmers. We see Woolworths shares down 2%

today. Wesfarmers shares are

down nearly 1%. Fairfax Media

has fallen to a record low?

Just a day after a record loss

of nearly $3 billion, Fairfax

has dropped... in fact as you

said to a record low of 44.5

cents after Gina Rinehart tried

to sell 5% of her 15% stake,

but she couldn't. So Fairfax shares

shares are off nearly 12% and

Network Ten's director of

programming has quit after the

network's poor performance in

the TV ratings this year. And

it's a negative day on the

broader market? We saw a

selloff on Wall Street because

of weaker economic data from

Europe and China. Big miners

and bank stocks have pulled the

market down today. The All

Ordinaries Index off 1% or 41 points to

points to 4,371, the ASX200

down 41 points to 4,343.

Mining ontrip near Nathan

Tinkler has called off his more

than $5 billion takeover bid

for Whitehaven Coal. So

Whitehaven Coal shares down

11%. But a big deal is going

through. The Australian Infrastructure Fund has agreed

to a $2 billion to a $2 billion takeover bid from the Future Fund. Let's

take a check of the market's

other big movers top 100.

Hewlett-Packard stumbled

after Qantas cancelled orders

for Dreamliners. In news

In news just in, former Queensland surgeon Jayant Patel

has won a High Court challenge

to his convictions for

manslaughter and grievous

bodily harm. In June 2010 he

was convicted for the unlawful killing of three patients and

the grievous bodily harm of a

fourth. A new trial has been

ordered. There are calls for

whale alarms to be

whale alarms to be trialled on

crabbing boats . It's a common

sight off the coast during the

annual whale migration. Two

whales were rescued this week -

one was tangled in a drum line,

the other in crabbing

equipment. Conservationists

want pingers to be trialled.

The southern migration has

already started and we've got

something like 13,000 whales

coming down our way, so we

don't want them getting

tangled. I've been crabbing

since the mid '80s and it's

very rare. The alerts cost

about $100 each and

conservationists say they're cheap insurance against loss or

damaged equipment. There's not much

not much point spending that

money if they don't really do

the job they're supposed to do.

The manufacture of alerts

used on Queensland shark nets

and drum lines says it's important that scientific

research is carried out into

the effectiveness of pingers on crabbing equipment. A new

generation of whale alerts was

introduced in Queensland three

years ago. On the Gold Coast

we've seen a decrease we've seen a decrease in

entrapments in shark nets. Conservationists say it can be

a hidden problem. We had one

whale about three years ago

drag a lobster pot and Boye and

rope all the way from warn um

bool to Queensland. The

humpback migration is expected

to finish in November. A

21-year-old man has appeared in

the Melbourne Magistrates Court

today charged with the murder

irof his girlfriend. The

20-year-old woman's body was

found in Aberfeldie. She'd

been stabbed. The parties

were known to each other, so it

wasn't random or anything like

that, so the public can rest

assured it wasn't anything

other than the parties known to

each other. 21-year-old James

Stoneham is charged with murder Stoneham is charged with murder

and will return to court in

November. A Queensland man

charged over a fatal jet squee

accident in Hawaii has needed

no contest. Tyson Dagley was

charged with negligent homicide

after his jetski collided with

another rider this month. The

16-year-old died in hospital.

He faces up to one year in jail

and is expected to be sentenced

in a fortnight. in a fortnight. A no contest

plea in the US means the

defendant admits no guilt, but

no longer contests the charges.

In more breaking news, Lance

Armstrong has decided he will

not fight the drug charges

levelled at him. In a

statement, Armstrong maintains

his innocence, but says he's weary of

weary of the accusations. The

fastest driver ever to be

prosecuted in Britain has been

jailed for nine years. Ben

Westwood recorded speeds of up

to 290km/h as he fled police in

a stolen sports car. The court

was told that at times he

almost outran the police

helicopter. helicopter. A desperate

high-speed chase, a stolen Audi

burning down the M 6 at speeds

over 180 miles an hour. Here,

the driver tries to leave the

motorway, spots the police at a

road block, turns and speeds

back down the slip road. Going

the wrong way into the face of police pursuit cars.

police pursuit cars. The chase

lasted for over an hour. The

Audi RS 5 setting a blistering

pace. The get-away driver was

Ben Westwood, sentenced today

to 7.5 years for burglary, a

year and a half for dangerous

driving. Speed grabs

headlines, but the police are

stressing the danger. We're

not here to sensationalise the driving and the reckless

behaviour that evening. It

could have ended in significantly different

circumstances. If something

had happened with that vehicle

travelling at that speed, Ben

Westwood undoubtedly would not

have been here today and if

anybody else had been in the

way that evening, he had total

disregard for any other road

user. Britain's fastest recorded police recorded police chase followed

a series of raids across the

West Midlands. Shop fronts

were smashed the gang moving in

to steal cigarettes, easy to

shift on the black market. It

ended when Westwood and the

accomplice abandoned their car

and ran for it. They hid in nearby flats, but were

discovered and arrested. A pedestrian end to what the

judge called a white-knuckle

ride. To the weather now. A cold front tomorrow should

bring a renewed burst of cold

winds, showers and alpine snow

to the south-east. A trough

should generate showers and

storms in Queensland mainly in

the tropics. The high should

bring a cold morning and sunny

day to central and Western


Let's go back to the Stock

Exchange for a final check of

the markets:

That's the news for now.

There's continuous news on ABC

News 24 and there's also news

on-line. Our next full

bulletin on ABC1 is at 7

o'clock this evening. I'm Ros

Childs. Have a good afternoon

and a lovely weekend. See you

on Monday.

Closed Captions by CSI.

Lisa, wait a minute! Lisa!

Lisa! Come on. Fellas, PC Jackson. Do you need a hand? We're all right, love, back-up's on its way. Unless you want a lift? We'll give you a lift, love! TYRES SQUEAL

HER SCREAM IS MUFFLED Fellas! Over here! Stop! Help! Oh, fantastic! Oh, yeah. Oh... HE BREAKS WIND Well, this may be 17th century and Dutch... Oh, it is. ..but it doesn't do much for me.

Come here, come and stand here. Look at the tips of the waves - it looks like the artist has put silver on his brush and blended it in. MUSIC: "Bohemian Like You" by the Dandy Warhols