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This Program is Captioned Live. The top stories from ABC News. Egypt is in turmoil after its worst day of bloodshed in decades. A violent crackdown by the military on supporters of the ousted President Mohammed Morsi has sparked fears of a civil war. A state of emergency has been declared with hundreds of people dead. The Vice President has resigned in protest at the army's actions. Peter Slipper says he faces a tough fight to retain his Queensland seat at next month's election. The former Speaker he
and ex-LNP member has confirmed he will re-contest the seat of Fisher as an Independent. Mr Fisher is facing three charges relating to the misuse of Cabcharge entitlements. A Brisbane woman whose twin toddlers died of malnutrition has been given eight years jail but will be eligible for guilty
immediate parole. She pleaded guilty to manslaughter. Very was suffering a major depressive episode at the time. New Wallabies coach, Ewen McKenzie, has picked Matt Toomua at fly-half for Saturday's Bledisloe Cup match against the All Blacks in Sydney. McKenzie has opted for the Brumbies star ahead of Quade Cooper who will start on the bench. The squad includes debutantes but Roomua is the only uncapped player in the line up. Those are the latest headlines.

moves from stop to go. It's Germany in the driving seat as Europe inches out of recession. It's far too early to say that Europe's over their problems. Netherlands had a bad quarter of growth so very much in recession.I'm Ticky Fullerton. You're watching The Business.

The Eurozone's longest-ever recession is over but the real champagne corks aren't popping yet. Debt-laden Greece is still the word with warnings of more bail-outs to come. Moving with the digital times. Bricks and mortar travel agents still going places. And failing the executive stress test. Claims burn-out is costing business billions. First a quick look at the markets and a carbon copy of yesterday's session with a flat day for the local bourse.

0.2 of a per cent doesn't sound like much but European leaders are celebrating had first positive growth figures for the continent in 18 months claiming it as vindication for reforms and austerity policies they've embraced. Germany and France did the heavy lifting, adding more than half a per cent each in the June quarter but beneath figures, countries like are stuck in recession still figures, countries and the question for are stuck in recession and the question for another
bail-out is and the question for bail-out is not if but when. Neal Woolrich reports. As Neal Germany's Angela Merkel prepares to face the voters next month, the first positive European GDP report in 18 months couldn't have come at a better time. TRANSLATION: We are an export nation and we sell many of our goods in Europe. It's good news if today for the first time in one and a half years the Eurozone can observe a small economic growth.Official estimates show the Eurozone edged up by 0.3% in the June quarter. Germany and France led the way, growing by more than half a per cent each but core nations like Spain and Italy are still going backwards while troubled Cyprus shrank by 1.4% in the quarter. Today's figures, when combined with other recent positive survey data, are encouraging and suggest the European economy is gradually gaining momentum. It's far too early to say that Europe's over their problems. Netherlands had a bad quarter of growth so very much in recession, Spain and negative quarters as well.But without the German Powerhouse, still
the Eurozone as a whole would still be in recession and Germany's Central Bank, the Bunnings, is warning that debt-laden Greece may yet need another bail-out as Merly as next year. The European debt crisis has still got a significant way to run. Don't get me wrong, this is going to remain as a negative impact on Europe probably for another three to five years. NAB's David De shoots should be treat treated with caution as Germany's construction figures have with caution construction figures have been affected by weather and France just raised affected just raised income and property taxes. It is counterfactual that consumption is leading the charge there. Maybe we have to wait. Sometimes these figures can be revised but nevertheless, a bit of growth's probably there but the number probably over-states the bounce. I'm concerned it is going to be a very slow recovery, the kind of recovery we've seen in the US when you consider that really they bounce at of their recession in 2010, here we are three years later and we've still got full-level stimulus in place and still real arguments about whether it's time to retract stimulus. While most of Europe struggles, across the channel the UK expanded by 0.6% in the second quarter and at an annual rate of almost 1.5 %. New data this week also showed UK house prices are rising at their fastest pace in 7 years. And really what we need to see as China clear ly slows down at the moment is that the more developed world needs to pick up the slack and as a result we really need to see Europe picking up, woo really need to see the UK picking up and we need to see the US economy continuing to improve. Hardly life in the fast lane but a much better prospect than some of Europe's basket cases. For more I'm joined from London by Marcus Ashworth from Espirito Santo Investment Bank. Marcus, welcome. Hi, thank you. The recession gone in Europe, we hear. How robust do we think this turn-around is? I don't think it is at all really. It's one or two of the numbers are sustain able y thing the UK certainly should improve from here, helped by the rest of Europe perhaps not dropping quite so much and Germany's in better shape than the rest of them but one or two of the numbers are almost conveniently good and I would treat with a little bit of cautionyism think some of the seasonal effects are at play. Having said that, there have been some signs of
anecdotal good news on the unemployment front in some of the s peripheral countries y think due to a good summer and decent tourist season. One or two of these things are probably sustainable but I wouldn't get too optimistic.How convenient for Angela Merkel just going into that election. Probably even more so for Francois Hollande who's had zero good news over the last few months and needed a decent one and equally probably the biggest surprise was Portugal which was up strong, 1.1. That's fabulous news for them but I think we look to the German constitutional court ruling and we'll see Portugal and Ireland start ing to ask for proper help from the ECB by the open monetary transactions OMT program in the autumn, I think. We've been hearing great stories about the UK turn-around but suggestions today that the Bank of England might relaunch quantitative easing to keep interest rates low. Please explain. It is really because Mr Carney's message has been basically ignored by the markets and one of the policy members has come out with a very sensible suggestion saying that the 18 to 24-month window of was to pick up is employment drops and window
was to pick up is too long a window and was to pick up is window and he'd rather have inflation-unemployment link tighter than that in case inflation-unemployment inflation does start to run tighter than that in away. We have very inflation does start to inflation in the UK. We've just seen rail fares going up 4 to 5%. There is lot of inherent stuff there.They're expensive rail fares, Marcus, aren't rail fares, they? They are and they continue, like school fees, they only ever go up. I think Mr Carney has to stamp his feet a bit and make sure the markets understand he is all about a 3-year window of forward guidance. Over to the US, still talk of tapering on their quantitative easing side next month? If so, what impact will that have? As Bill Gross from Pim co said, he's about an 80% chance now and was lower than that previously. The market have come around expecting they will do something in September and if they don't it will send a confusing message to the market. We have a bad jobless claims today, which is the most important indicate of the lot and I think we-F we get steady continual numbers we should expect 10 billion worth of tapering in the September meeting. If they delay it until December, they have to a-V a good reason. I think the markets will get confused. Is the noise around tapering the reason why the demand for gold has slumped to a 4-year low? In different parts of the world, the Indian Government are trying their best to stop people buying cold but they continue to want it. It's clearly some of the hedge funds being off loaded, having said that, the short-term data indicates certain hedge funds have been stepping back in recently. It is a good 2-way flow, I would say, nothing more.Briefly, I see the Chinese are broadening their investigation on price fixing to telecoms, petroleum, banking and auto sector. Any implications for big global company s? Clearly because I think the wife doing business in China has always been accepted as a nod and a wing on certain things. Macau knows all about that. However, it's all part of the overall Government crackdown on corruption so certainly some big international multinational companies will get caught in this but part of a wider crackdown on corruption which is endemic really.We'll watch that closely. Marcus Ashworth, thank you for joining us. Now, how to blend a traditional business with online and survive. It's the multimillion-dollar question for businesses large and small. Travel agents are one sector that are very much on the move, fitting in rather than fighting the digital revolution. Phil Carey explores why. Big names, big competition and yet despite this, individual travel agents have survived and even thrived. Service is key in this Internet age. Treating every trip and every situation as an individual is really - people feel that you are genuinely looking out for their best interests so that generates in itself such good will that your business will thrive.John Gazal spent more than 20 years in a family-run high-street travel agency. Today he's not a travel agen, he's a personal travel manager. He works from home and through a shared online presence, highlights his go to you business model. A truly online operation where the booking process was actually administered online that would go against it but the online presence is an introduction to me and then me, the person, takes over from that introduction. They're communicating with the consumer the way the consumer wants to be communicated with.According to Jayson Westbury, despite online competition there are still 4,000 travel agents in Australia, the same as 5 years ago. They're comfortable computers due to long-term exposure to back-end booking systems, an advantage over some industries but one that travel hasn't wasted. If you know what your product is and you can work out the way to communicate with the consumer the way the consumer wants be communicated with and then find a way of blending that into whatever your traditional setting is and then your online setting, then you've nailed it. People really need to focus on the customer and determine whether the customer wants to do business with them. They need to determine whether or not they can do the business profitably with the customer. Andrew Birmingham, a former Fairfax executive, has seen what happens when scale, not service, is the focus online. If you contrast that to say the media companies, they make completely the other judgment. They got wrapped up in scale, almost addicted to the vast scale without figuring out is there money at the end of that? Survivability aside, there are a couple of lessons to be learned by looking at travel agents. Probably one of the more interesting one is five years go they handled 80% of out-bound books from Australia, 5 million books, today with the same number of travel agents they handle 8.5 million bookings. That is productivity digital style. They're getting to talk to a bigger reach of customers but in quite a personal way and I think that's the art of the new retail. small, right now can get retail. Retailers, big and small, right now can get into a global small, right now can get into global business moodly using market places like eBay, Amazon, market places like Amazon, we've grot Asia Amazon, we've grot a wonderful
Asia Pac market doorstep.It seems that at least in the least in the digital world, SMEs may have a few lessons for the big end of town, or more simply put, the customer is always right. It's a banking bungle that will cost $46 million. Bank of Queensland is to refund incorrectly charged fees and interest to about 20,000 customers. The bank says the problems date back as far as 2004 and were partly due to overly complex products needing too many manual processes. One of the things we have always said is if we make a mistake we'll be out there and we'll apologise and let people know straight away which we've done.All affected retail and business customers should receive refunds by the end of next year. To some key stocks on the local share market:

Another big result today, Wesfarmers group net profit came in up 6.3% to 2.26 billion, a little short of expectation. Strong contributions from Coles, Bunnings and Kmart but clear challenges for Target and its coal mining business. Manager director Richard Goyder had a nice surprise for shareholders. I spoke with him from Perth after the media briefing. Richard Goyder, thank you for joining us over there. A very different story for Wesfarmers shareholders compared with the Commonwealth yesterday. This 50 cents of capital returned would be very welcome. What has changed since May when you were really hosing down expectations on that sort of front? I think in May I was trying to indicate to people we continue to have a growth focus in the group is that is absolutely the. What has changed is in recent months we've been able to recycle some property assets off the balance sheet and we've also had very strong cash generation from the businesses we've got while maintain ing an efficient balance sheet structure and our credit rating and the flexibility to do things, if we want to, in terms of continuing to grow the business. Let's go to some of the businesses. Coles double-digit growth but a tougher market, you've got more food price dedemration, the lower dollar, potentially higher fuel prices. How much more can this go on and what's the likely impact on suppliers, do you think? We thing there's a lot to go in Coles in terms of years of earnings growth ahead because we still know weir we're a long way behind where we could be on some still
fronts. We've got many stores still to refurbish, we're about halfway through so we've got 300 or 400 stores to refurbish, we've got a strong store opening program and can get a lot more efficiency through the supply chain. Part of that will be with our suppliers but I anticipate that will be in a way where we work with our splar suppliers to get mutually better outcomes for us, the supplier and certainly for customers. You very much stress your customer focus. Last time I spoke to you we were talking about how the ACCC's Rod Sims was talking to suppliers generally y think that was back in March. The ACCC also seems quite worked up about your fuel docks, particularly Rod Sims talking about the size of some of these discounts of over 40 cents, 45 cents, made it virtually impossible for the independents to sell petrol profitably. Would it not make sense to actually pull back on those very large discounts rather than head to court? It's probably not helpful to get into the narrative on the ins and outs of this particular issue other than to say the big discounts were very targeted to a group of shoppers and based around loyalty. We've offered fuel discounts for a long period of time. Our customers like them so again we'll work cooperatively with the ACCC hopefully to find a way through this that preserves good outcomes for consumers because that's really important, particularly as they've got significant cost pressures at the moment. Target, which had a much tougher time, a 40% drop or so in earnings, the new boss, Stuart, mentioned today, admitted to a Merril's analyst that Target is broken and this is going to take some time to fix. I'm just wondering how costly this investment is going to be. You mention Top Shop and probably coming Zara, we've got M and S fair to Stuart Machin, who, by the way, is an outstanding executive and will be an outstanding chief executive of Target, to be fair, David Airingten put a proposition to him and Stuart said this is a business that won't get back to where it was financially until we sort things out and I agree with Stuart. We've got to get Target back to offering greats products, on-trend fashion products for customers who really want this. They love the brand. We've got to get our stores and supply chain rights. We didn't get the returns we wanted from the bsz last year and probably won't get the required returns this year but we'll do the hard work to make sure it delivers value for our shareholders into the future. On the growth side, you've gut a few chaps now in an M and A unit sitting in Hong Kong for you. I'm wondering what this says about your views on opportunities in Asia? Ticky, as we grow bigger we've obviously to expands we've got to look at opportunities broader than Australia, not with stars in our eyes but by being very methodical, being patient and disciplined about anything we do to grow the business. The reason we've put some people in Hong Kong is we can house them in our Kmart offices up there, litsz led by Rob Brenchly who continues to do work with our coal customers in Asia and we want to get more of a feel and understanding what goes on in business and also what the opportunity flow is so that's why we've done it. It doesn't say any more than this is about Wesfarmers equipping itself with the capabilities and information so that if we want to make decision in the future griefrbt the best information at hand - in the future we've got the best information at hand. While you've been in long sessions with analysts and the media, Kevin Rudd in the Northern Territory has announced that he would be happy with a 20% company tax rate if Australian companies moved to a Northern Territory economic zone. Difficult for me to discuss this in the context of an election campaign. I don't want to buy into that other than to say in terms of Wesfarmers, we're happy headquartered in Perth because we've got great staff here and that's what's really important to us but ultimately businesses are concerned about tax rates and the efficiency of the tack system and so any debate which leads to a better outcome on that front would be, I think, a good thing.And presumably that would include a discussion of the GST ? I think it includes a discussion on everything.Richard Goyder, thank you so much for joining businesses
us. Thanks for your time.Many businesses are failing the executive stress test. It's claimed burn-out and depression is costing a fortune in lost productivity and stress leave every year. High-achieving CEOs and executives are on demand and on call 24/7 and they expect the same from their workers. Ynja Bjornssom asks whatever happened to working 9 to 5? Daniel Petre didn't always start his day this relaxed. At home, mid morning on a weekday. During the early '90s he was vice president Microsoft, working a 70-hour week. I'd been climbing this mountain at Microsoft and I decided I wasn't prepared to make any more sacrifices and the view from where I got to on the mountain was fine. His attitude to work changed when his only sister was killed in a car crash. He became known as the 9 to 5VP who refused to hold meetings before 9am or after 4 p.m. today he divides his week between paid and charity work and is the author of numerous books on work-life balance. When you enter the workforce or enter a job, there's no structure that stops the job from taking every ounce of your energy, time or resource so if you let it, work will take over your life and in a negative way, that's why I try to use the analogy it is like cancer because if you let it, work will destroy your life. Finding leaders in the workplace that will admit they're over-stretched is rare but the statistics speak for themselves. One in five Australians suffer from depression and mental stress costs Australian businesses more than $10 billion a year. As a partner at Minter works a John Moseley admits he works a 14-hour day. For me works a 14-hour day. you
personally there is a point if you go one large transaction after another then you will simply drop from exhaustion so at that point you will simply take yourself out, not put your hand up for a new transaction.Psychologist and leading expert on mental fitness, Paula Robinson, says the obsessive work culture in Australian leaders has reached a critical level. Dwliping it's just cowboy territory at the moment. I think we've got this new information revolution and we haven't worked out how to manage it to our betterment so we manage it, it doesn't manage us and I think executiverise on the emails too much. It's quite interesting because of what we have at the moment in relation to being contactable 24/7 as it were, people have developed a sense of urgency when there not necessarily is one. While CEO suicides are rare, last month the boss of Swisscom, Carsten Schloter, took his own life. In an interview with a Swiss newspaper earlier in the year, he admitted he found it increasingly difficult to unwind. What we really need is a few enlightened CEOs to take a stand and say, "I know the damage I've caused to my family relationships, to my health, mental and physical, and I know those extra hours weren't productive. I'm going to change the cull - culture of my company." Organisational wellbeing has bottom-line benefits to an organisation. Profitable, productivity, staff retention, less absenteeism. Nites a case of working 9 to 5 coming from the vice president down. Canada's answer to Warren Buffett is furping up as the new owner of Blackberry. Billionaire Prem Watsa, who already owns a 10% of Blackberry's stock, famously came to Canada from India with just $8 in his pocket. The struggling smartphone maker announced it was up for sale earlier this week. Mr Watsa is thought to be eyeing Blackberry for its lucrative patents and 76 million subscribers. That's The Business. Alan Kohler is here with 'Inside Business' on Sunday. I'm Ticky Fullerton. Thank you for watching. Goodnight.

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Tonight on The World - the interim government in Egypt has declared a month-long state of emergency after a deadly day of unrest. We go to Cairo for the latest as the international community condemns the violence.Compromise from all sides, the President Morsi supporters but also the military. That's what needs to happen. We don't support this violence, we condemn it completely. It's not going to solve the problem.This is an awful tragedy for the people of Egypt who deserve better and had hoped for more. This Program is Captioned Live. Also ahead, it is half past 3 in Afghanistan and a former Afghan soldier who wounded three Australian troops has been killed apparently as he attempted another attack. It's early afternoon in Syria where a team of chemical weapons investigators from the UN is headed after months of delay. And in Germany new figures show the Eurozone is now out of recession after 18 months of contraction, though analysts caution against too much is early afternoon in Cairo Hello, I'm Jane Hutcheon. It is early afternoon in Cairo and
Egypt is in turmoil after its worst day of Egypt is in turmoil after worst day of bloodshed in decades. A violent crackdown worst day of bloodshed the military on spour - on supporters of President Mohammed Morsi has started a fear of civil war. The Egyptian Ministry says more than 500 people are dead and thousands injured. Egypt's Vice President Mohammed ElBaradei resigned saying he couldn't support the Army's actions. We will go live to Cairo in a moment but first here is Matt Brown. Exactly what happened at the priest at the camp near Rabaa al-Adawiya is disputed but pictures of the burning ruin make it clear this was a deadly encount er. The Army had moved in soon after dawn. The support ers of ousted President Mohammed Morsi had vowed to resist and the Government released pictures it said showed they were using gun as well as rocks. An Internet news outlet broadcast images apparently showing Egyptian police shooting at demonstrators.TRANSLATION: We are facing a massacre or a war of genocide. This is unprecedented, even in con ventional wars.Witnesses saw dozens of bodies as well as many wounded at a field hospital set up near the mosque. The violence has spread beyond Cairo. In Egypt's second city Alexandria rival protesters turned on each other, showing little mercy or restraint.TRANSLATION: An