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(generated from captions) experiment myself with stuff. Then I was thinking, hey, how it could be when you really stay for longer. I never stayed longer than 45 minutes before.The rate the technology is advancing is so rapid research into the health effects of VR is severely lagging. The most common known health effects are things like nausea, motion sickness, and eye strain. Thorsten Wiedemann says despite having only two hours rest inside a virtual reality cave in his e physical
sperment, he didn't have any physical complaints. Apart from some of the food he was given. Kind of felt that I have to puke hours
after whatever it is, after three hours because of the food, not because of the VR. The VR was good, it was good. (LAUGHTER) There was one other negative experience for Thorsten Wiedemann in his e sperment. He suffered a panic attack while inside the virtual reality world.Kind of after 25 hours I had a panic attack. Wow. How do I get out of this? So how can I really survive this? My heart was - I was breathing, my heart beat was rising. I was feeling not well. But it was not because of the technologies, of course, it was because of me. It's these potential psychological effects that demand further research. One American study on rats found that 60% of brain neurons shut down while they were in virtual reality environments. These are the goggles you wear to have the depth feeling in this virtual world. Mark Cavendish has been working with VR for more than a decade.

Professor Kavalki has been working here for decades. Pch Real world environments are enhanced or world.
altered to merge with the virtual But it's risky.It closes reality -- it causes reality blur in a way for the person. And you may not be able to dif ren what is real from what is unreal.While the potential positive uses of virtual reality are immense, so, too, is the lack of knowledge about the potential side effects.The technology is shown positive effects on people. But of course if it's used in the wrong hands it may produce the opposite. The message for now seems to be - use virtual reality with caution and probably don't try a 48-hour stunt at home. Now for our regular look at the latest movies, here is Jason Di Rosso. I like this Star Trek f you take it as a modest dimensional story that may have appeared as an episode in the first series, my personal favourite, then it works. But the problem is I think it stretches out and becomes a script that is cluttered. Cowritten by Simon Pegg, who plays Scottie as if he's doing an impersonation drunk at a party. So basically I think that the script is a bit cluttered. It races too quickly, I think into action movie territory. It starts off with this lovely intrigue. There is an SOS message they receive, they go to investigate, and of course there's a moment where it reveals, it's revealed to be a trap. They're lured into a traps. That's the kind of thing you would have seen in one of those episodes of the early series. And then the Enterprise is destroyed. What happens after this is that essentially this becomes a film about Captain Kirk played by Chris Pyne, trying to find himself, he's lost his ship, his dad, he's at a low ebb. And quite frankly, I think it's, you know, thought bubble psychology. He carries it off well but I would have preferred a film that allowed space for this very good cast to interact without some of the dumb one liners, always racing to lasers abdz and so forth It's a good cast. They were out here recently, Chris Pyne, and Sulu, Bones. I caught up with them to ask about this chemistry. It was a sombre interview because of freak
course a costar had just died in a freak accident. Here is what they had to say about whether they bond off screen to get that chemistry working. I think when we got to Vancouver we socialised more than we would have had we shot in LA. I think that helped get us back to relationships. Not that we did it for the film. We did it because we like one another. I hope that comes across on screen, we feel it. Jason, what does Star Trek offer that's relevant today?I think the interesting thing about Star Trek and Star Fleet, this imaginary organisation is it's not about exploring to conquer, but exploring to explore. It has a scientific modus opreandi. It's not a hawkish sci-fi franchise. I think that sits interestingly with the current psychegeist in the world. It was a screen.
trailblazer for the diversity on screen. I spoke to the director who is famous for his work on the Fast and tp furious. He was a great fan of Star Trek as a kid. He learned English off the TV. He came out here to America sorry, from Taiwan at the age of 8 and became a fan. I asked him what struck him. When we em brated from the, to the States it was my parents and me and my brothers tochlt see a diverse cast of people going on this shared journey and getting a sense of family, that really, you know, that really put an imprint on how I view people
my relationships with, you know, people as I was growing up. A great story. He learns English and directs the movie, great. Another film that is out this week. This is the new Jane Austen adaptation, another one, called twist
Love and Friendship.There is a twist on this. This is by a director who made last, the Last Days of Disco and droll comedies about the upper and middle-classes. This is a departure, though his first film was loosely imspired by Mansfield Park. It looks delicious. Kate Beckinsale plays a widow trying to find a husband for herself and her daughter. She's said to have loose morals and she has a great ability to have that face of, you know, polite society. She's devious behind the scenes. It is dense, very dialogue-rich and some of the zingers will go over your head at times. However, I think it is worth it. On screen you can see Kate cast opposite an actress, they were cast together in Last Days of Disco a great film in the late 90s. Kate Beckinsale had good reviews? Yes, she's excellent. She has this great poker face and she runs the men ragged. She runs circles around the men who are, you know, by turn, callow and dopey and there in lies the droll humour. But Love and Friendship one to look at.Thank you. It's the game sweeping the world. Pokemon Go is based on the hit 90s TV show that followed teens who train mythical animals for battle. Millions are running around with the phone game that allows them to find Pokemon Go by visiting real life locations. Many find it annoying N the British capital it is having a surprise side effect. From Sydney to New York. Everyone is running.Pokemon Go is everywhere. But in London the game is having an unexpected effect. In a city known as known as together.
unfriendly, it is bringing people together.Within ten minutes someone approached us, said, "Are you playing Pokemon Go?" That never happened in London. We don't talk to anyone in the street. We've got this thing now where we can talk and have something in common. I was in Canary Wharfa suit and booted guy, 30, we spoke for an hour about Pokemon. I mean, in different class systems you wouldn't normally speak to a suit and booted guy. He was happy to talk to me.The free game, in which players hunt down Pokemon characters out doors has proved a huge hit around the world. In fact, parent company Nintendo is raking it in. The company broke the single day trading record in Tokyo this century. 4.5 billion US dollars' worth of stock changed hands. But in London many players say the game is breaking down inhibitions in a city where the home crowd has a reputation for being naturally reserved.

We are taking you to Sydney where speaking.
the Treasurer Scott Morrison is speaking.Which responds to the request made by the PM and myself on 27 June to report on the short-term impacts to the Brexit vote and policy and regulatory measures taken to mitigate early risks and provide an assessment of global responses to Brexit and implications for Australia immediately and in the medium to longer term. The purpose of seeking that report was to have that advice available to an incoming Government and now that we have an incoming Government, we have had the opportunity to review that and I think it is appropriate that we provide that report publicly because it confirms a number of issues that were stated in our various assessments at the time. I think confirms some very important points about the resilience and strength of the Australian economy, in particular that Australia has proved resilient and remains well placed to manage the economic and Brexit
financial market's response to Brexit that despite initial volatility and some surprise by markets, markets have sus Stanwelly regathered or stabilised in relation to these matters, particularly here in Australia. Monetary policy expectations around the the world have been wound back as we said at the time, an expectation of lower rates for longer. The Australian office of financial management in particular their tender of 5-year bonds on Monday 27 June was well subscribed with coverage over four times which is a good indication of the strength the Australian position in relation to these other events. Key financial market infrastructure course
performed very well during the course of initial response and the volatility that follows and systems were accommodated what were increased volumes at the time our agencies, financial regulators engaged constructively with their financial partners preand post the event and maintained that contact and supervision, appropriate stress testing was conducted not only here but we are aware of the same things happening overseas and the appropriate preparations were undertaken in advance of the event and followed through after the event the events have underscored the banking of our financial system and economic policy frame works and the settings that were in place and this was reinforced through the response to these events. In particular, I draw attention to p. 9 of the report when looking at the impacts of the economy in Australia it is expected to be very limited for several reasons. Australians' trade is orientated more towards Asia an Europe. Australian banks have limited and direct exposure to the UK and Europe and are well placed to handle the disruptions to funding markets. That is why the impact is expected to be small, as was stated in the various responses that were made by the PM and myself and you would have heard from the agencies directly pleased to provide that report. These remain significant issues, particularly in the Northern Hemisphere, particularly in Europe, the UK, tomorrow I will head to the G20 finance ministers meeting. This will be a key topic of discussion. I will have the opportunity to meet with many of my colleagues there, including the new chancellor Phillip Hammond on the sidelines of those meetings, as well as with other members of the European Union. Obviously there is a long way to go in terms of how the UK and the union work through their disengagement process. It is very early in the piece to understand the full impact of what that will mean for each of the economies. From Australia's perspective, we maintain excellent and outstanding relationships across Europe and in the UK. Our exposures are limited and what is pleasing in the report that we have received and released today is that the settings, the systems have all functioned very well and has ensured what has been a somewhat significant event, politically as well as economically, has been absorbed within this system. It shows even in this environment of global instability of which this has played a key part in recent times, the Australian economy remains strong. Our financial and banking system remains strong and it is important as a Government that we continue to stay the course on our path of fiscal reform and fiscal improvement and ensuring we continue to bolster the strength of our financial system, our response to the Financial System Inquiry and the many other inquiries that were received during the course of the last term of parliament, the Harper review, all these remain important reforms to further strengthen the economy, to strengthen jobs to ensure Australians can have that confidence in their jobs which ensures we continue to see the domestic economy perform as well as it is. The Australian economy growing at the rate of it is the envy of the advanced economies around the world and that is a strong position for Australia to be in but we cannot take it for granted and the warnings that have been issued from ratings agencies are cause for sober reflection and ensuring not only can we present the policies that we work constructively with the new parliament to ensure these measures can be implemented and Australia's position further strengthened. Happy to take questions.Is it premature to say whether Australia has weathered this storm? Britain's exit hasn't even started yet.This is the report from the council of financial regulators and that is their assessment.Isn't it early to be making that assessment?The short-term impact, which is what they have predominantly focused on, what has happened in the aftermath and preparation for this event has all gone particularly well and the Australian economy is somewhat removed from those events and the report makes it clear that whether it is our trade engagement, our financial institutions engagement and all these other areas, that the exposure is limited and that has been the outcome to date. The report makes clear, as I have made clear, that the further development of what happens in the UK and Europe is yet to be played out. The indications at this point is that there is no required action on the part of the Australian Government to take any additional measures in response to this event. That is the clear advice from the council of financial regulators. There is already a set of policy measures that is in train, whether it is the further undertakings nah APRA engaged in in their areas of responsibility and in that sense I draw your attention to the reforms to strengthen the resilience of the banking system and on 1 January 2018 APRA will implement the three net stable funding ratio to discourage banks from being overly funding.
reliant on less sabl sources of funding. There is a series of be
further policy measures that will be put in place. The council of financial regulators are saying the settings are right. The system has weathered that shock of what occurred on that day. Other matters will play out in due course.

will play out in due course. The IMF has released a report on the eve of the G20 meeting that sets out a number of different scenarios from the global economy. The clear advice from our regulators and our regulators here is that this impact is limited. I have an optimistic view about the pragmatic nature in which this will be worked out on the ground in the UK and Europe. I will have a better understanding of that over the course of the meetings over the week. PM May and chancellor Hammond will now have the task of working that through with their colleagues and it is in their interests and European interests to ensure these measures are proceeded with in a very measured way and predictable way to promote stability.How do you think Australia can benefit financially from the British exit?Australia has proved itself to be an incredibly successful trading nation and we have set the gold standard in recent years in the trade arrangements we have been able to negotiate, particularly during that last term of parliament. There is an ambitious agenda of further trade deals that the ministers are seeking to pursue. But they were engaged in a process with the European Union. It needs to be clearer the extent to which the UK is able to put in place similar arrangements that they were previously enjoying as part of the European Union and that is part of that transition process. There is no doubt we're well placed in the UK and in Europe to secure the opportunities that are there and we will continue to pursue that. That is in the interests of Australian exporters. The report does make it clear that most of our trading opportunities and the balance of the majority of our trade sits a lot closer to home. The head of the AMA has come away from a meeting with Sussan Ley convinced that the Government will (inaudible) shAnnouncements on those marries will be made by the Government and when and if the Government were going down that path. Our Budget which was presented to the Australian people and all the measures that were in that budget are measures that we would seek obviously to take through the Australian parliament and if there were to be changes to anything in that budget, there would need to be Al trntive ways of addressing any impact on the Budget position. There are no exceptions to those fiscal rules. What is absolutely critical is not only that we stay on the trajectory of Budget repair that we set out in the Budget, supported by the ratings agencies but that we legislate through the parliament those savings and other measures to ensure the integrity of the Budget. My focus is ensuring the integrity of that Budget position. The credit rating has implications for the Commonwealth but the domino affect also goes to state governments and to Australian banks. It is important that we don't lose sight of the bigger picture of the need to keep the integrity of the Government's fiscal position and to stay the course and keep pace with the course for that fiscal improvement. We put our Budget to the Australian people and we have been returned as a Government and we have a mandate to ensure that we continue the course of Budget repair and you can be assured that the PM and I and the cabinet will remain committed to that task. Would you say that is the kind of measure needed to neutralise Labor's Medicare campaign?I would say that I don't intend to do a running commentary on how the Government will continue to pursue our fiscal object yifrs but our fiscal objectives received support at the last election. We have been returned as a Government that is trusted to better manage the nation's finances. That is a clear outcome of the last election. When it comes to the issue of financial and economic management, Australians chose to put their trust in the Coalition, not the Labor Party. We have an obligation to the Australian people to ensure that we hold to that task and we hold firmly to that task. I will just make a comment on - sorry, sure.Sounding open to the idea of a deal on superannuation savings. If any savings are not retrospective, do you want Labor support on that and what would you propose -I don't know what the Labor Party's superannuation policy is and neither does the rest of the country. I don't have the faintest idea what their policy is. We took our policy to the Australian election and we received a majority of support, both in the two party preferred vote as well as a majority of seats in the House of Representatives. We took that policy to the election and that is the policy that we continue to work through now on its implementation. There is no retrospective element in our superannuation policy, therefore I would presume the Labor Party would wish to support it. On one last issue, I note the Productivity Commission report today which was commissioned by the year.
minister for agriculture and I last year. I just want to stress two things. The Government remains absolutely committed to pursuing our reforms in relation tos. 46 and the affects tests and the related measures we announced earlier this year. There is no change whatsoever to the Government's position on that matter. Equally, the Government's position on foreign investment thresholds is unchanged. We made those changes in the last term of parliament and we remain committed absolutely to those thresholds, be it on agricultural land or anything agribusiness or any of those other matters. The Government remains firm in its position to ensure that we have strong foreign investment rules in this country and that we enforce those rules. Australia is a sovereign nation and as a result, we wish to promote foreign investment to this country but we promote foreign investment to this country in the national interest. Thank you very much.

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