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(generated from captions) This program is not captioned. Today - close call. Britain's EU vote currently neck and neck but the re - Remain campaign is feeling pretty nervous.If we do stay part finished
of this union, it's doomed, it's finished anyway.

Corporate criminal Oliver Curtis jailed for insider trading. More than 100 fire fighters battle fierce flames at a factory in Sydney's south-west. And Australian basketballer Ben Simmonds because only the second Aussie to be picked at number 1 in the NBA draft.With the first pick in the 2016 NBA draft, the 76ers select Ben Simmons.Hello and welcome to mornings, I'm Joe O'Brien.

Well, with this EU referendum before today, the betting markets had been heavily in favour of a vote with a decision at the end to remain in the EU. The polls had indicated it was going to be much tighter and at this stage of counting it appears the polls were right. In fact, now, we're still early in the campaign, as you can see in that arch with the coloured spaces on either side there's still a long way to go in the count. We're only about 1/17 of the way through. But still there's been nearly 2 million votes counted and the Leave campaign is pulling away at this stage before the last 10 minutes there had only been about 10 or 20,000 votes in front. Now, it is more than 100,000 votes in front with more than a million for the Leave campaign and 885,000 have voted for Remain at this stage. Now obviously there are still a lot of electoral divisions to return their results. There's only been about 30 back
divisions out of 380 that have come back so far but we are getting the impression that people who have supported the Remain campaign are getting pretty nervous. Europe correspondent Steve Cannane is keeping across the results in London. Steve, what's the latest? Joe, the latest is that vote Leave's vote is exceeding expectations by a very long way. It's liking at the moment like 53-47 in the percentage wise. Bear in mind, the polls were suggesting it's going to be 52-48 to vote Remain. So that's been flipped around so far. But bear in mind only 28 of 382 areas have been declared so far. The big news is going to be what happens in the next hour with the voting areas in London. Now we've just got a little taste of what that may be like. The city of London has just been declared. That was 75% to vote Remain. Now this is the stronghold for vote Remain. They're going to have to really rely on London. City of London doesn't carry many votes but it's that percentage figure that could be the key if they can spread across some of those voting areas in London then perhaps, some of
perhaps Vote Remain can claw back some of those votes they seem to have lost in those traditional Labour areas, those kind of post industrial northern areas of the UK. They're not faring well there at all.And the Remain campaign had been hoping that Scotland was going to be a big positive for them. Have we had any indication of what's going on in Scotland?I saw one recently, Joe, that was Dundee, I think it was 60 to remain 40 to leave. But once again, I think the remain campaign thought they would do better than that in Scotland. So Scotland is certainly voting to remain and you could find ourselves in this situation where the UK votes to leave, Scotland votes to remain and they may well be pressuring for another referendum. That's obviously a long way down potentially
the track, Joe, but you know, potentially that could happen. The indications are this could be really tight. Having covered this for the last couple of weeks what are the implications out of this for David Cameron? Well, either way it's
it's going to be interesting. If it's a vote to leave it's very hard to see how David Cameron could survive. He would then have to Union,
leave an exit from the European Union, an exit that he has few
passionately opposed for the last few months. It would be very difficult for him to do that. If he just scrapes over the line he is then going to have in the cabinet room with him and in the party room many people who want the UK to leave the European Union. It's thought around 130 to 140 Tory MPs in the House of Commons want to leave the European Union. So he's going to - whatever the case have a party room, that disagrees with him and they've been actively arguing him and in some cases undermining campaign
his credibility during that campaign over the last few months. And up until now we've got about 2 million votes through out of about 35. You're expecting that number to increase substantially over the next hour?Yeah, we're expecting the next hour a lot of those London voting areas where there is a lot of voters to start rolling out. We were expecting a few of those declarations. So that will be the result,
key to this campaign and this result, what happens in London. I think we're going to see that unfold in the next hour.OK, Steve, pretty
your image has been breaking up pretty badly. You look like you're half rubbed out at the moment but we can assure our viewers that London.
Steve Cannane is OK there over in London. Thanks for that for the moment, Steve. Nick Rowley has worked as a policy adviser to former British PM Tony Blair and is an adjunct professor at the University of Sydney. And is a supporter of the Remain campaign. He joins me now. It's fair enough to say when you first came in this morning you were looking pretty chipper. But you've lost some of that shine over the last couple of hours as this vote has come in. It's why I wore such a bright tie so that even if the news was bad people could at least see some colours on the screen.How are body
things looking?If you look at the body language and you look at what some of the people are saying and you're already getting people who were in the Remain camp who are active in Scotland saying the reason why we didn't have such a big vote in Scotland for Remain was because George Osborne and David Cameron are enormously unpopular and they ran a bad campaign. People another.
are starting to chip at one another. But the metaphor I'd use, we're on a roler coaster, maybe that's one, but the other is to maybe look at this as maybe a little bit like one of these big heavyweight boxing fights that we used to have in the 1970s with Ali and Frazier and Foreman, there's a hell of a big right punch coming which is London.Is it a left punch or a right punch?I think that's a right-hand lead and that right-hand lead is either going to connect quite majorly or it's going to fall short. And I think in some senses what people really need to look at some of these big areas, big urban airias like Birmingham. Birmingham people are starting to say actually it looks like Remain has done well there.Someone mentioned earlier it's going to be about 60%.They're quite big numbers. So when you look at the graphics that you've been showing, that's going to be moving around a fair bit, it's still very, very early, you need to get 16.8 million, around 16.8 million votes and Leave is only on around about a million. So it's early.You had expressed a few reservations a little earlier about the voter turnout in London.That's right. That's going to be a factor.That's right. It was a dreadful night in London. It was very, very bad weather. But one thing we absolutely know, one thing we know is that in the north-east of England remain has done very, very badly, very badly. And it's a question as to whether or not that is something to do with the regional dynamic of wanting to give the elites a bloody nose and it's north-east and, you know, it's the
that, or is it across the whole of the north of England? We don't yet know.For people who aren't that about
familiar with England, tell us about the north-east.Well, the north-east previously used to be highly industrialised, Newcastle is the key city there, you've got quite a large university population in Newcastle. That was one of the reasons why people thought Remain would do pretty well because all of those younger people who would be voting for a future as part of the European Union. As many of those northern seats have done and northern areas have done over the last 10, 20 years or so they've changed enormously. You'd have industries there that were very focused on selling and making things that were sold in the European Union. But also when you look at Newcastle, you look at Sunderland, it's not as ethnically diverse as Bradford, for example, other towns that have higher proportions of people from ethnic minor 'tis. So people thought it would be closer in that area of that region of the UK and it's proven to be a pretty emphatic victory for Leave.So as we move closer to the possibility, and this is only a possibility at this stage, we don't know exactly what's going to happen in the end, but just refresh us as to what you believe are the risks if Britain was to go down this path and how quickly would we see the impacts of this if there was - that if the Leave vote did get up?This is high political drama. On Friday morning in the UK, no matter what the results, the British PM is going to be standing there in front of a lectern at 10 downing street probably with the door right behind saying
his left ear and he's going to be saying something and I can almost guarantee if the British people decide to leave the EU that's the end of the British PM. What that then does in terms of how that replaces him and how long that takes and what that means in terms of a sort of political uncertainty, we'll have to wait and see.We've already seen on the markets this morning just in the last couple of hours in terms of what's happened to the pound about the potential financial impacts.For sure. I'm at Sydney University, you've got plenty of academics who would sit around, discussing whether or not the economics follows the politics or the other way around. Here we've absolutely got the politics having a direct impact on the economics. You've had a fall in the pound which is the third largest fall in British history. It may well return from that but that initial drop was almost as high as 2008, the global when Britain
financial crisis almost as high as when Britain came out of the exchange rate mechanism in the early '90s.Nick Rowley, thanks for that for the moment. We're going to take a look at how the markets have been affected in a moment but just before we go there, I will refer back to the progressive count through this morning. We're now up to 2.5 million votes counted and the Leave campaign is about 130,000-odd ahead of the Remain campaign. So there have been about 40 divisions, council divisions who have returned those results so far with 343 yet to go. But the Remain supporters a little nervous about what the outcome could be later today. Now, let's take a look at what's happening on the markets. Glenn Maguire is chief economist for Asia-Pacific ANZ and joins me from Singapore. What do you make with what's been happening with the of
pound in the first couple of hours of this?It looks like the only thing we've seen at the moment is Remain in safe havens appears to be the principle theme and we've seen the British pound down by 5.1% against the US dollar. That's its largest fall in more than 6 years and we're also seeing other British futures markets. The FTSE 100, for instance, futures are down 5% at this stage as well. So clearly as the market starts to price in the probability of a Brexit, we are starting to see some fairly significant and fairly large moves in British asset prices.And in Australia as well, the ASX down 2.7 at this stage, is that about what you're expecting?Look, I think, you know, I mean it's very much moving into a risk off environment or a risk on environment at this stage, and that's best exemplified by the out performance we've seen in the Swiss franc, the Japanese yen and gold which are all up very, very strongly at this stage. So I guess, you know, I mean given the Brexit debate was sort of so evenly balanced, there probably really hasn't been a lot of thought given to the economic implications of what this will actually men and they're quite substantial, particularly for the Asian region. Just talk us more through those economic implications as you see it. If this was to end up being a leave vote?Well, I mean what it would mean is that article 50 of the Lisbon Treaty would be invoked which would mean Britain basically has 2 years to negotiate its exit from the European Union. And Britain is more dependent on Europe than Europe is on Britain. 50% of with
Britain's exports and imports are with the EU whereas for the EU it's only 10%. Now, it's not a case of simply negotiating a new free-trade agreement. That would have to be negotiated individually and ratified with all 27 members. So it's incredibly complex. And the default position would be that British consumers, British companies would revert to the standard norm of playing or paying World Trade Organisation tariffs on goods they either import or export for any country or any region with which they no longer have a free-trade agreement. And given since 1973 those have been negotiated by Brussels, that's basically the rest of the world.So would imports necessarily, if there was a Leave vote, would people going to the shops in the UK notice an increase in the prices?Not immediately, but certainly over time that is what would be the inevitable cause because tariff and non-tariff barriers have been reduced, and even wider than that, I mean given this is a free-trade agreement that has effectively been in place since the 1970s, you have a harmonisation of standards and harmisation of regulatory requirements, Britain will no longer be part of that. So it will be an increase in both trade an non-trade barriers that ultimately manifest itself in a lore quality of goods but also a higher price of goods.While that will be complex with negotiating with 27 countries rather than having one agreement, why wouldn't it be the case that Britain could negotiate the same kind of deals individually with the countries as it had with the EU as a whole?The EU legislation requires that the remaining 27 members ratify it or a qualified majority under the article 5 Lisbon Treaty. The European Parliament even then still has the right to veto it. So it's not a case of the Norway model or the Sweden model where you simply negotiate a free-trade agreement relatively easy. You also have complexity of the services sector. London is the financial capital of Europe and you will probably see second tier continental capitals such as Berlin share.
and Paris want to claw back market share. So I don't think, you know, it's a lay down mesair for Britain to negotiate a free-trade agreement of simplicity and sufficient scope relatively easily. It's going to be very prolonged and difficult arrangement.Just before I let you this
go, I don't know if you can see this in front of you, but do you know what's the latest with the pound now versus the US dollar? Is it down to 141 now? Look, it's been moving fluidly while we've been speaking. It was down around 3.8% as we started and then it was down around 4% and now it's down again more than 5. So look, it's clearly in a very strong directional move downwards at this stage. And as you look at those figures, as a finance man, are you getting pretty concerned about the implications? Look, it's an adjustment. It's a structural change to Britain's relationship with its largest major trading partner. It's an external shock and economic theory tells us that when these economic shocks occur, your currency weakens to absorb that. So that's a textbook economic example of a shock unfolding, the behaviour of the pound.OK, Glenn McGuire, thanks for talking us through that this morning from Singapore.No problem, thank you very much.Glenn McGuire there. As I've been talking to Glenn McGuire I've been noticing out of the corner of my eye that Nick Rowley has been shaking his head once again. He's over to the left of me on the desk here. He's been a strong supporter of the Remain campaign. Nick what are the - latest figures you're seeing and what do you continue to be concerned about?Once you look at two things, once you look at votes and once you look at bets and if you're looking at the bets, lad brooks - Laddbrokes have Leave as favourite.Look at how they had it 24 hours ago.Sure, but if we do see that Leave wins, you've got the pollsters getting it wrong, you've got Ladbrokes and other betting agencies getting it wrong. We'll see. As we said before, there are come
some pretty major areas still to come through and if you're going to have over 70% of people in London part
voting that they want to remain part of the EU, it might well be the
that that becomes a white horse on the charger more towards the end of the night when you get those really, really big areas where you've got millions of people voting all deciding they want to be part of Europe. But it's A, close, and certainly up until now, I would say people like myself who Britain absolutely has its best interests served by remaining within the more
European Union are probably a lot more glum than they thought they would be.I can see it all over your face. Now just going through some of those figures once again. So a short time ago the ASX 200 down 2.7%. The pound was down - it had been up at 150 US, that's down around 141, 140 just in the last couple of minutes. And the latest referendum,
on the actual count in the EU referendum, about more than 3 million votes counted now and the Leave campaign is still ahead at 1.5 million and 1.35 million for Remain. Still with 340 out of 380 electoral areas or council areas to return that vote. So we'll keep that right across that through the morning. So pretty significant impacts already being felt on financial markets as it looks like we're headed towards a very tight result with the Remain campaign increasingly nervous.

Australia's Ben Simmons has been chosen by the Philadelphia 76ers as the number 1 pick in this year's the second
NBA draft. The 19-year-old is only the second Australian to be chosen as the top pick since Andrew Bogut back in 2005. In the 2016NBA draft, the Philadelphia 76ers select Ben Simmons.

Is sizable Sixers contingent on hand to celebrate this pick.It's amazing. I'm happy that Sixers chose me. I've been working so hard to get to this point. It's a great city and I'm looking forward to getting to filly.Philly is the only team you worked out for so how were you so sure that this was going to be a good fit for you?It feels good. I feel relaxed and I'm comfortable with the system. Great coaches, great people, a great young team and I'm really looking forward to it.Ben Simmons there. Australian basketball legend Shane Heal has been watching the draft do
and he joins us from Brisbane. How do you feel with an Australian again at number 1?Well, it's a pretty proud moment, isn't it, for all of Australians to see this sort of result, the second first overall pick obviously with Bogut 11 years ago but he's worked hard, he's a great tallent and as I say, is exciting for basketball.How much have you seen of Ben Simmons have you seen over the years and what's been your reaction to some of his talent?Well, he's come through the ranks. He learnt all his basketball here in Australia and he's been spoken about for a long time now as the next big thing and even for the last 12 to 18 months the American experts have been picking that he was going to be a lottery pick and he's done exactly that. It's exciting time. He's 6 foot 10 and he's got the mobility. He can play virtually.
any position on the floor virtually. Unbelievable mobility. They're likening to LeBron James. Obviously, you know, you won't want the expectations of that in the early years but he's got that sort of caliber with his body time.In the writing that I've seen about him, it kind of suggests that he's not a selfish player, he's a real team player. His passing is just so sharp?Yeah, well his passing is probably his best trait but he's got so many different weapons in his arsenal. He rebounds, he's got the mobility to run the floor as you're seeing in the highlights and again that size, he plays like a forward
guard but he's got a body like a forward or a centre. So I think that's what the NBA scouts are excited about. But it will be take some time. He's 19 and it's a long season. It's mentally and physically draining. He's going to have to learn a lot but certainly exciting as well.They play 82 games or something in the season? Yes, so it's almost 4 games a week. So, you know, when you're a teenager and you're getting worn down and the expectation is night in, night out to be able to perform and all these other players around the league saying OK, you're the number 1 pick we're going to come after you and test you. He's going to be tested throughout the year but again we have to keep in mind that he's young and he's going to take a little bit of time. He will have some unbelievable highlights in the first year and he will have some down times where he's struggling a bit as well.Tell us about the Philadelphia 76ers and how much pressure there's going to be on him to lift them, how much support and talent is there outside him in the 76ers?Well, they've been the worst performed team over the last 3 years. Their record is terrible but by design they've wanted to have bad teams, lose games, pick up high draft picks which they've been able to do over the last 3 or 4 years. So there's not going to be immediate pressure for him to be able to make the play offs or win championships. But over time there will be and they will give him time as well to be able to team
mature. But it's going to be his team so he's going to get that opportunity to be the best player in the team which is great.We might take a bit of a listen now to Ben Simmons in the media conference after the draft pick.I'm happy to be part of the family now. It's a weight off my chest. I've been looking forward to this day for a while. So I'm glad, you know, I've made history not only for myself and my family and Australian basketball. Seeing my dad play professional in Australia and my grandpa, you know, he wasn't into sports or anything like that, he just worked hard and to be able to share that with him and see where his son has taken it and having me be here and having him here is special to me. All this pressure hopped off me. I can relax now but So
no, I know where I'm going to be. So more importantly I know where I am headed and know I can really work
start working on what I need to work on for the team.Ben Simmons there has got that pretty heavy US accent but he firmly says he's Australian. And have you had much to do with his dad over the years? He mentioned his dad, Dave there? His dad Dave played in the NBL for a long time, was a great player out here after college and obviously he loved Australia, he's a smart man, married an Australian woman and set pedigree
up home in Australia. So great pedigree for him. But the other great story to come out of this is grew
Thon Maka, a Sudanese young man who grew up in Perth has been the 10th pick. It's the first time Australia that's
has had two lottery picks and that's exciting as well.What do you think this will mean for Australian basketball, the examples of these two kids, kids virtually, just 19-year-olds over there.It sends a great message to Australian basketball is fwh a great place and the development and the pathways that we've got now 7 or 8 guys in the NBA, it's going to continue to grow and more kids are going to play basketball because they see the opportunities to be successful on a world stage and let's just and we
hope that that translates into Rio and we can get the first ever medal.Yeah, so what are the implications then, for the Olympic team? I think I had read something that suggested that maybe Ben Simmons wasn't going to be taking part in Rio?Well first indications were that he wasn't going to play. I'm not sure whether that's been updated at all. But you know, we've got enough talent anyway. Ben would be able to help that. We've got a lot of guys playing in the NBA, they're at the perfect age, they've played together for a long time, international experience. They've certainly got higher hopes of doing what no other team's done in the history of Australian bass ket ball and that's to win a medal.Great to Australian
talk to you on a great day for Australian basketball.Thanks for having me.Oliver Curtis has been sentenced to at least one year in jail for insider trading. In handing down his sentence, Justice McCallum slam Curtis saying he had shown no degree of remorse whatsoever. His 1-time best friend gave him confidential information that made the pair make more than $1 million on the share market.I sentence you to prison for 2 years starting on 23 June 2016 and expiring on 23 June 2018. I direct that you be released after serving one year of imprisonment upon you giving security in the sum of $200,000 without surety that you will be of good behaviour for the balance of the term of the sentence.More than 100 fire fighters were called in to extinguish a large blaze in Sydney's south-west earlier this car
morning. The fire broke out in a car wrecking yard and spread to a window blind factory next door. Superintendent Andrew Tise Hirst of the fire and rescue NSW says it's not yet known what caused the fire. This morning just after 3:00, fire crews were called to the reports of a fire. When they arrived they found a business totally involved in fire. As they attacked that fire they noticed the fire was spreading neighbouring
through the rear wall into a neighbouring premises. Additional fire crews then relocated to that neighbouring property. They started to attack that fire. They've then noticed the fire was spreading to some of the adjoining properties. They've then aggressively attacked the fire from those properties and prevented it from spreading further.How many fire crews were involved?We had about 100 fire fighters here at the height of the bliez - blaze and that involved around 20 fire trucks from around Sydney and they were able to work together to extinguish the fire. They had to be mindful of wall collapse and some of the walls did collapse which meant the fire fighters had to operate outside of an exclusion zone which meant they utilised their ladder strucks and larger hose streams to stop it spreading. Two businesses have been totally destroyed by fire and some of the neighbouring businesses have suffered some minor damage or some fire damage. There were no injuries reported. There were some fish that were rescued from a neighbouring business that had the power turned off and suffered some fire damage. The fire fighters were able to go in there and take those fish out and hand them over to the owner. At the height of the blaze, it watz a very intense fire. The fire was through the roof in both premises and the fire was then spreading into an adjoining property and the fire fighters had to go into those adjoining buildings and work very carefully and aggressively to cut off the fire and stop it spreading to the neighbouring businesses further. Fire fighters did a good job here to stop it spreading any further but the two businesses have been Ke stroied and the other neighbouring businesses have relatively
suffered some fire damage but relatively minor.The Coalition has brushed aside former PM Paul Keating's criticisms of its Malcolm
proposed company tax cuts. The PM Malcolm Turnbull says that the former Labor leader cut company tax for the same reason as the Liberal Party wants to, to drive economic growth and jobs.Paul Keating is a lifelong member of the Labor Party and I'm not surprised by his letter to the Financial Review today, although it has taken him a while to write it. I would say this, with Paul Keating, knowing and respecting him well I would look at what he did in office as a measure of his commitment and convictions rather than what he writes in a let tore a newspaper a week out from an election. Paul Keating, when he cut company tax, actually justified it on the basis it was going to drive economic growth and jobs. That's how he justified it at the time and I think that's the best test of how will
he justified it. But you will - it will have not have escaped your notice that we have made very substantial savings in respect of superannuation and so we have made savings in tax and that is, you know, that contributes to the cost of the notional cost, anyway, of the company tax cuts.The PM, Malcolm Turnbull there, speaking just a short time ago. Now, just before we go to weather, I will mention once again this latest vote count in the EU referendum because we've had a bit of a change. The Remain camp has now bounced back and is ahead of the Leave campaign but only by about 10,000 votes. So we've had now close to 4 million out of the 35 million counted and this is the first time in quite some time, I think since Gibraltar at the very beginning, virtually, that the remain campaign is back out ahead but only by about 10,000 votes, so we're right across that through the morning here on ABC News 24. Time now for the latest weather, here is Vanessa O'Hanlon.

Cloud thinning out around the jet stream. Some patchy light rain still around the Pilbara. Next system coming in for the weekend, a trough that links up with a cold front in the south-west. Meanwhile, we're still watching this frontal system push its way through NSW bringing a wind change up into the southeastern parts of Queensland. Behind it, a high pressure system bringing clearer skies over the weekend but it remains pretty cold. Today we are expecting very low temperatures, just 10 degrees in Melbourne. Tomorrow the rain shifts away, still some coastal showers about Victoria and some showery weather still around Tasmania. The next system comes in, it draws itself towards SA, bringing the rain mainly into the north and a few showers up there on Queensland's north coast. A cooler day for Brisbane:

The top stories today - the first results of the UK referendum on its membership of the European Union are in and it's a closely contested race. The British overseas territory of Gibraltar was the first to return a result overwhelmingly voting to remain but on the mainland it's a different story with regions across the country split on whether to remain or leave the EU. Convicted insider trader, Oliver Curtis, has been sentenced to at least a year in jail. The disgraced investment banker was found guilty by a Sydney court of conspireing to commit insider trading on 45 separate occasions. The 30-year-old shared in $1.5 million he made on the share market by using confidential information given to him by a friend between May 2007 and June 2008. After the sentencing, Curtis embraced his wife before being led from the court. Fire investigators have arrived at Greenacre in Sydney's south-west after two businesses were gutted by a large blaze overnight. The fire broke out at 3:30 this morning in a car wrecking yard and spread to a blinds and awning factory after a partial wall collapse. Australian basketball sensation Ben Simmons has been chosen as the number 1 draft pick in the NBA. The 19-year-old is only the second Australian to be drafted in the top pick since Andrew bogus back in 2005. Let's get more now on the close.
Brexit vote which is extremely close. Some 4.5 hours after polls closed the momentum of the Leave campaign has sent shockwaves through global share markets. Australian stocks are down around 3% right now. David Spicer, our reporter, is at the stock exchange in Sydney. What's the latest?Well, the latest is that what you tell me 10 seconds ago is out of date and this is unbelievable volatility because what happened this morning was at first the stocks went up about 0.33% and then as the Leave took the lead it plunged 2.5% with losses across the board, particularly stocks being affected most harshly by a potential leave were worse affected including BT skp management but we've just turned around and literally it's gone straight back up. It's back in the green. So basically it's like a giant roulette table and as we've seen the results come through change, because Remain just took the lead, only for the first time in recent minutes it's been a big turnaround. Quite an extraordinary volatile day on the Australian Stock Exchange.Yeah, and that's because as you say this vote is turning around,sh as I look towards in
the count on the EU referendum just in the last few minutes there have been a couple more divisions come in and the remain camp is now about 100,000 ahead of the Leave campaign and those markets are jumping around accordingly, as David Spicer mentioned there. David, just talk us through what's happened with the British pound today as well.Well, when I checked the British pound 10 minutes ago it was still down about 6 pence - no, 6 cents against the US dollar but I mean I would need to look it up again but I would imagine that that volatility would be reflected on currency markets. Like wise the Australian dollar was trading at 76 cents yesterday and went down to 75 cents and that too to turnaround.
could be changing as the vote seems to turnaround. It is very confusing. It's a bit unclear as to nature of these localities where the results are coming in and how they - because it's an unprecedented vote, it's very hard to tell exactly where it's going. But as we've just emphasised there's been a huge turnaround here on the Australian stock market and a major buying opportunity evaporated around 10 minutes ago but who knows what will happen over the next few hours.Did you buy at the bottom, Dave?No, I wasn't quick enough, sorry.David Spicer reporting there from Sydney. And it looks like the pound is now at about 144 US. That's been fluctuating this morning within a 10 cent range. It was 150 at the start, went down to 140 and is now back around 145. Let's go to now to our broadcast partners, the BBC, for the latest on the EU referendum. I've got to pull your eyes away from what's going on on Channel 4 at the moment.I was watching the markets.This is tantalisingly close at the moment. What do you think is going on in Downing Street as well?I think there's quite a lot of panic in Downing Street and I suspect there's quite a lot of panic a lot of Labour constituencies in the north ass - as well as they see their voters they thought were in step with tem turning around away and voting out.If turn up is high, if the rate is very close, it hasn't put people off?No,, you remember a lot of people at the beginning of the campaign were saying how much do people really care, most people about Europe, we know a minority of people care about it very passionately but do they care that much? A lot of predictions, I remember turn out being very much lower than at a general election. One thing, as you say Emily, we don't know where we're going to be at 6:00 in the morning, but one thing we know is turnout is going to be higher than at a general election and a lot of voters have obviously thought this is a very, very important moment in whatever the result, very important moment in our country's history and I'm going to go and perform my civic duty.We were speaking as if this was a by-election, as if it wasn't about Europe, do we not trust the voter to actually make this about Europe? What's your sense?Most of the sort of public meetings that I've gone to and most of the people I've spoken to seem to be very engaged with the issues, even if it's issues that Labour politicians like John McDonald wouldn't want them to be likened like immigration. People aren't trying to stick two fingers up to the government, they're trying to send maybe the elites a message about immigrations and issues like Union.
that but it's about the European Union.I would agree with this. Although you could say, you could say it is a by-election about the establishment or the elites, as they have tended to be called. Whatever happens tonight, even if Remain should edge it, about a half of the country will have listened to every major party leader except Nigel Farage, about three quarters and
of the MPs in the House of Commons and every professional body you can think of from scientists to doctors to people in the arts world, who have always been advising them to vote in and about half the country will have voted out.And that half of the country where it is is quite important. If, as expected, London and Scotland are carrying the Remain vote, what does that tell you about the divide?Well if their votes end up leading to an overall Remain vote, that will cause huge resentment in the other parts of the UK that there's a planet London and there's resentment between certain parts of the UK and Scotland that the UK is already add
quite divided and this will really add to that sense.That would be true if it goes the other way, remember. Scots are clearly going - most of them to vote stay would be recentful and it may lead in due course to another referendum on independence. I think we're pretty clear, a lot of London is going to be majority in. London would have as much right, probably, to be recentful back towards England if the rest of England had forced us out saying you're cutting our throats and you're cutting your own actually. So it could go both ways. would
How many party leaders do you think would have left their job by the end of this week?You go first.I think the Conservatives have tried very hard to make it clear that Cameron will stay onto steer the course if there is a leave vote but he will have to set out a clear timetable for his departure. I do detect serious movings against Korbin though.I would say maximum one, I don't think Corbin will be dis appearing this week, if any is saying I'm going in due course lit be David Cameron.Just a reminder of how things are going in the north-east, for instance. There's the percentage, 50%, 41%, 59%. 59 for Leave, 41 for Remain.

Nice to have the percentages for - let's go on a bit - north-west. Mentioning the north east, the north-west, 59%, 41% Remain. London so far, let's leave the raw figures and see the percentage if we can. 31% Leave, it's running at 69% Remain. We've had hammer Smith and Fulham in. Hammersmith and Fulham,. Now we're joined by somebody who was secretary of state for Wales until very recently, in fact until Ian Duncan Smith walked out of cabinet and he became secretary of state for work and pensions, Steven Crabb. Thank you very joining us, Mr Crabb. Is Wales proving a bit of a disappointment to the Remain campaign?Well, I mean it is early days and we will see what the rest of the night holds for us but I'm not in any way surprised by these early results that we've seen for Wales. I felt for a number of years that the politics of Wales were being reshaped quite profoundly and what you're seeing in the south Wales valleys and the North Wales Labour seats is the same phenomenon you're seeing in the north-east of England and some of the old industrial white working class areas of England, a large number of voters saying sorry, we don't believe the Labour Party or the Government in the way they tell us that Europe and the European Union is good for us and I think that's going to be one of the strong themes of tonight is the way that the white working-class Britain, certainly England and Wales, just haven't trusted the messages that we've been trying very hard to communicate about why staying part important
of the single market is so important for their jobs and for manufacturing and for revitalising these old industrial areas.If at the end of the night we turn out to have a Brexit vote, Chancellor of the Ex-check ur said there's going to be an emergency budget. David Cameron said he's going to carry on with getting out of the EU. Do you think both those things will happen? Will there be an emergency budget or is that just a threat and one of the things that may have put people off voting for remain?I think it's far too early to speculate what the outcome of the vote tonight will be, other than that we just know it's going to be very, very close and clearly there's some quite deep divisions within the country in terms of the voting patterns. I spent most of today outside of London actually in Wales and when I arrived in London this evening I'm afraid I didn't share some of the same buoy ant feelings some of my colleagues did who spent the day in London reporting a strong support for Remain. It's too early to speculate on what the outcomes and implications will be in terms of government actions to respond to what the scenario will look like tomorrow and the day after. But in terms of the leadership, I think it's absolutely essential that David Cameron stays on as PM. He has a clear mandate to be PM and to lead a Government that provides stable governance for the country. I think it's essential that he does that.What about your failure to persuade Tory supporters in Wales to vote Remain?That's part of the similar picture. Don't forget Wales is one of those parts of the UK that gets more European money than else where where a number of large manufacturers have located their plants and provided jobs, partly on the back of the European single market and certainly European assistance but clearly people up and down Wales haven't recognised the benefit of that for their own individual lives and there isn't any kind of emotional attachment from the people of Wales towards the European Union and, you know, we will spend the coming weeks and months asking questions about why Wales
that is but clearly politics in Wales has shifted. It looks a lot more like politics of the rest of England outside London rather than the politics of Scotland which people were comparing it to just a few years ago.Well thank you very much for that. John McDonald, I want to ask you a question about Labour and Andy Burnham was a candidate for the leadership said the message to Labour from voters for Leave was - should be we've heard you, we understand what you're saying, we've got to change, do you agree with that?Yes. We've got to listen to our own -Why haven't you been listening?We have been.Hang on, you can't say we've got to listen -We have been listening but clearly the people don't think we've listened enough and we haven't come back on those issues that they've confronted us. How will you come back on immigration?I think what we have to do now is look at free movement of Labor. We've been saying this to message
the campaign but I don't think the message has got across. The issues on the doorstep with regards to immigration is the feelings that people are having their wages undercut. That there's pressure on public services and there's a deep feeling of insecurity.What would you propose?In terms of free movement of labour, we've been argues, and I don't think we've got the message across effectively, that we've got to protect people from having their wages undercut. It means more employment rights, changes in some of the European directors, it means preventing agencies just recruiting outside of the UK, particularly types of workers, so that sort of, I think, that
employment rights approach is one that should be protected. In terms of pressure on public services, we've said time and time again that the Government was wrong to scrap the migration fund that was assisting areas that came under particular pressure. It reflects the austerity measures the the
Government has introduced. A lot of the grievances that have come up with regard to immigration, I have to say, are a reflection of what's happened in termses of austerity under this Government. It's this Government that's been cutting the NHS and hasn't provided enough school places. There's a whole debate to be had now and we have to say yes, we are listening to what people are been telling us.It's a bit late because you will be out of the EU anyway.Whatever happens to the decision today we have to have a new relationship with the European Union, whether we're in or out that relationship has to be negotiated and some of these issues will be on the table.John Man Labour MP is joining us from Westminster in favour of leaving the EU. What would you say to Mr McDonnell about the way Labour handled this campaign?Labour was somewhat out of touch. I'm surprised, David, you're not calling it for a Leave victory because every single result that's come through was predictable in the coalfields where there are no results out yet, I predict it's going to be 2 to 1 for Leave. In my constituency turn out was up 10% on the general election and if you look at, even in Scotland, Dundee, the Scottish heartland for the SNP, every party in the Scottish Parliament voting for Remain, 40% voted to leave. Wales is going to vote a majority to leave, Northern Ireland is going to vote a majority for Leave. It leaves London, but if we take that Dagenham result, even in London there's huge dis parity. We'll leave the BBC coverage there. This is the latest on the EU vote nout, about a sixth of the vote counted and there's less than a per cent in it. This is such a tight race at this stage. Around 6 million votes counted, a bit more than 6 million votes quount counted and the Remain campaign ahead by 30,000. It's on 50.3% of the vote. A strong London results have lifted the hopes of the Remain camp but as I say, it's still very tight and still 5/6 of the vote to count. Investment banker Oliver Curtis has been sent to a minimum of 1 year in jail for insider trading. He was given a maximum sentence of 2 years but will be eligible for release after one for conspireing to commit insider trading on 45 separate occasions. Karl Hoerr has been covering the case. This offence occurred around about 9 years ago. Oliver Curtis formed an unlawful agreement with his friend, John Hartman who was an equities dealer. He was working for a company that was - had clients that were large institutional investors such as superannuation funds and Mr Hartman provided information to Oliver Curtis, his friend, about the timing of his trades and of course, that was inside information. He was not entitled to provide that information and certainly Oliver Curtis was not entitled to act upon it. But the case was based on them forming this unlawful agreement. Now, today ol rer - Oliver Kurtis appeared at the Supreme Court for sentencing and a total sentence of 2 years in prisonment was handed down but a nonparole period of 1 year and ordered his release after serving one year in prison. He has been on bail this entire time during this very lengthy court proceedings. He was recently convicted by a jury but today for the first time Oliver Curtis was escorted from the court by corrective services officers. He pockets.
emptied the contents of his pockets. He waved to his family in the public gallery and kissed his wife before being led away. And what had been the basis of his arg argument for a noncustodial sentence?Well, there were a number of things, Joe. The defence pointed out that there were other options rather than a custodial sentence including a wholly suspended sentence or what's known as a corrections order, an order that requires certain conduct during such an order or an option such as home detention but in the end the Justice refused to take up any of those suggestions. She said when it came to white-collar crime, custodial sentences have real bite because they serve as a deterrent to others to act in this conduct. She found it was appropriate that Oliver Curtis spends time in prison.A high-speed pursuit has come to a dra plattic end in Perth as a car - car reallied before backing air born. They tried to pull him over before losing control of the vehicle. The car rolled a
several times before crashing into a home. The driver suffered only minor injuries. He's been charged with several aumpbs - offences including aggravated burglary, driving.
stealing a vehicle and reckless driving. Police in Germany have shot dead a masked gunman who opened fire and took hostages in a cinema complex. He was killed after officers stormed the complex. The man appeared disturbed. He barricaded himself inside the building with several hostages. police
Around 25 people were wounded by police tear gas during the attack. Australia's Ben Simmons has been chosen by the Philadelphia 76ers as the number one pick in this year's NBA draft. The 19-year-old is the only the second Australian to be chosen as the top pick since Andrew Bogut back in 2005.In the 2016 NBA draft, the Philadelphia 76ers select Ben Simmons from Melbourne, University.
Australia, and Louisiana State

University.The sizable Sixers this
contingent on hand to celebrate this pick.It's amazing. I'm happy that Sixers chose me. I've been point. It's
working so hard to get to this point. It's a great city and I'm looking forward to getting to Philly.Philly is the only team you sure
worked out for, so how were you so sure that this was going to be a feels good.
good fit for you?For Philly, it feels good. I feel relaxed and I'm comfortable with the system, great coaches, great people, a great young team and I'm really looking forward to it.Melbourne's Ben Simmons there at the US. Time now for the latest weather. Here is Vanessa O'Hanlon.

Cloud thinning out around the jet stream, some patchy light rain still around the Pilbara. Next system coming in for the weekend, a trough that links up with a cold front in the south-west. Meanwhile, we're still watching this frontal system push its way through NSW bringing a wind change up into the southeastern parts of Queensland. Behind it, a high pressure system bringing clearer skies over the weekend but it remains pretty cold. Today we are expecting very low temperatures, just 10 degrees in Melbourne. Tomorrow the rain shift ace way, still some coastal showers about Victoria and some showery weather still around Tasmania. The next system comes in, it draws rain
itself towards SA, bringing the rain mainly into the north and a few showers up there on Queensland's north coast.

Stick with us on ABC News 24 for more coverage of this extraordinary vote in the UK on membership of the EU. It is so tight at the moment. After 7.5 million votes counted, it is split evenly. Basically 50.1% to Remain at this stage, just ahead by 7,000 votes. We'll have extensive coverage through the rest of the day here on ABC News 24.

This program is not captioned. This program is live captioned by Ericsson Access Services. Remain of leave? Counting continues in the crucial British referendum on whether to stay in the European Union.

All eyes in the financial world are on the markets as traders ride the result of the UK referendum. In another news: A Sydney investment banker is sentenced to a minimum one year in prison for insider trading. Good afternoon, I'm Jeremy News.
Fernandez, you're watching ABC News. Also ahead on the program, in the US Democrats and their Congress sit-in over gun control while Republicans dismiss the protests as simply a stunt. And 19-year-old Australian basketball star Ben Simmons is the number one pick in the NBA draft.