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Tonight, London in flames

and Britain on edge as the mobs

run wild. For and hour and a

half we just watched guys, kids

like 14, 13 years old, just

running up to shops, smashing

the windows and grabbing

everything and just coming

out. Faces of fear as global

share markets take another

hammering. But Australia bucks

make a stunning comeback. With the trend as shares plunge then

all these turkeys there buying

and selling this is not the

place to be when you're my age.

Good evening. Welcome to ABC news. I'm Virginia Haussegger. But first to London, where

anarchy has reigned for a third

straight night. Locals say they

haven't seen rioting and

looting like it for a

generation. And to make matters generation. And to

worse, the mayhem is spreading.

To England's second largest

city, Birmingham in the Midlands, to Manchester, Leeds

and Liverpool in the north and

to Bristol in the west. In

London, the violence is widespread. Hackney, Camden, Notting

Notting Hill, Lewisham, and

list goes on. Trouble erupted

so swiftly in so many suburbs

that London police were

scrambling to keep pace.

Rioters used SMSs to coordinate

their attacks and outrun the

law. Day 3 and instead of

petering out, the violence intensified

intensified and spread. The

first trouble broke out in the

northern London suburb of

Hackney. And it was the same

shop windows smashed, and then, story. Cars stolen and burnt,

the looting. Here at a service station, and at a

pawnshop. This is what's

happening up and down the

street, police don't have control of this area right at

the moment. People appear to be

looting at will. Nothing to

stop them. The riot police did

attempt to regain control, but

it was a battle all the way.

Even with the baton chargers,

there was no guarantee the

streets could be held for long

and before police arrived it

was mob rule. For destruction. For 1.5 hours we the fight and the

just watched guys, kids, 14, 13

years old, just running up to

shops, smashing the

all of them would run in behind

and just grab everything and

just come out. This is where they've actually come

head-to-head. At the moment the police are just holding their

ground, but in places all over

the city, it's not the same

case. Just as police appeared

to gain the upper hand in

Hackney, there were fresh outbreaks in other London areas, especially in the south.

It was here in Croydon the

fires were the worst. Adjoining

properties also caught Hackney, I'm not interested in fire. I'm not interested in

Peckham, I'm interested in

Croydon. Where have they been??

In other suburbs more blazes

and everywhere the looting. In

some areas, people have a free

run for hours. I don't know why

people do this. A friend

mine, he told me that yourself

got broken into. Police have

seemed the police not responded still now. It

muster the numbers, or the seemed the police couldn't

overwhelming force necessary to

quell the violence. I do

implore people, we do ask

people to implore you to actually ask people to clear

the way for us to allow us to

in arrest those that are engaged

in that activity. And while

there have been many arrests

away with it. It's not just already, many

London. There is copycat

violence in Birmingham and

Leeds. The nation is in shock.

How did it all spiral so

dangerously out of control, and

how do you stop it? Now to the

day's other big story, the

continuing wild ride continuing wild ride on world stock markets. Wall Street set

the tone, plunging 5%, when it

reopened after the downgrading of rating. It wiped a whopping $1

trillion off the value of

American shares. Early on, the Australian market mirrored that

fall only to stage a remarkable fall only to stage

recovery and finish slightly up

at the end of trading. But

there were other casualties.

The Australian dollar took a

pounding, at one stage slipping

below parity with the US

dollar. Two of Australia's big est banks reacted by cutting

fixed--term interest rates.

Welcome to the horror reviews from the audience. I

can't see it getting better too quickly to be honest. People

want to sell. As a matter want to sell. As a matter of

fact I hope my sister fund is

out buying. They weren't buying in the morning. Panic

selling. The volatility was remarkable. After plunging more

than 220 points in the first

hour the market staged a breath

finish 48 points up, over the taking 270 point turnaround

4,000 mark. Analysts put the

rally down to speculation the

US federal resrf will announce

another round of money printing

overnight. The importance of

the Med meeting tonight is very significant. But Australia was the stand-out. There was no

such recovery on most markets

in other parts of Asia.

The market is totally gripped by fear. Fears of and tumbling commodity prices saw the Australian dollar dive

3.5 US cents at one stage

taking it below parity for the

first time in five months. The wild markets had superannuation

experts advising investors to sit on their hands. Making

decisions in a period of extreme turbulence like this is

generally a bad thing.

Unfortunately they will have to

batten down the hatches and

wait for the dust to settle If

the dust doesn't settle some

say the Reserve Bank might have to act. We'll know when this

crisis enters a more dangerous

phase for the Australian economy because the Reserve

Bank which has has been

signalling interest rates more

likely to rise will have to cut likely to

them instead. It's much more

likely that the Reserve Bank

will sit on its hands for quite

funding a while. Amid the turmoil some

funding has become cheaper, so

the Commonwealth, Westpac and St George Banks cut their fixed

rate home mortgage products.

Now it's back to the routine of waiting

Northern waiting to see what the

As markets went into

freefall in the US, President

Obama did his best to reassure Obama did his best

investors. He brushed aside the verdict of the ratings agency Standard & Poor's, saying

America's problems can be

fixed. But even as he fronted

the cameras, the markets

continued to slide. It was no panic Monday outside and began

with choreographed smiles and clapping inside. bell and in the wake of the

first ever US credit downgrade,

the global wave of selling quickly swamped Wall Street. It

didn't catch us by surprise. I

it was a little more violent than than we thought. But we knew

the first 30 seconds the the first 30 seconds the market

was down 100 points. The Dow industrials dropped 200. 400. The US President emerging to reassure nervous investors. Markets will rise

and fall, but this is the

United States of America. No

we've always been and always will be a triple A country.

Barack Obama blamed the Standard & Poor's credit downgrade on political gridlock in Washington, rather than America's ability to pay its debt. debt. In the face of criticism

about his leadership in the

debt crisis, the President is

promising to produce his own

ideas on further deficit reduction. Our problems are

eminently solvable and we know

what we have to do to solve

them. But that didn't stop the

relentless selling. On huge

volumes a trillion dollars was wiped off After the worst sell-off since

the 2008 financial meltdown, US

traders and analysts are

looking for any kind of good news . We're pretty close to the bottom

the bottom level of support on

the broader equity indices

here. We will start seeing some

bottom fishing coming in soon

but it will be step by step. Some Obama strategists are

blaming the Tea Party for the

credit downgrade. Conservatives

have fired back, saying it's the President's fault. Tomorrow the

Most US analysts say the Fed

may try to sure up confidence

but its options are extremely limited. Here's Alan Kohler

with the details of a topsy-turvy day on the

Australian market. It was an

action packed ride today. The

sort of ride that leaves you

throwing up on the grass

afterwards. The All Ordinaries

fell 5% at one stage then

bounced back apparently on suggestions that the Federal

Reserve is warming up the printing presses again.

its lows at the same time and

that low was below parity for the first time since February.

The share market got back what was lost this morning but it's

it's a steep climb to get back

what was lost this month.

That's in Ben Bernanke's hands.

Horrendous falls in Europe and

America overnight as you have

among all global markets was

Russia. An R or risk market if

ever there was one. By the time the markets closed the rumours

about money printing hadn't

started up. The US bond yield

has finally gone up after it

was downgraded from triple A to

double A plus by Standard & Poor's on Saturday.

Here it s Here it s a comparison of the

2008 and 2011 crashes by the

Dow Jones average. The one

three years ago, was much worse

than this one so far. Finally a

bit of economic news. Business

confidence actually went up in

July, although the share market will have fixed that in August.

And new home loans fell in

June, explaining why the are now cutting rates. And

that's finance. The market

turmoil has left the Federal Government

Government pondering what

impact it will have on its promised return to surplus next

financial year. The trsh and the Prime Minister say any fall-off in revenue will make

it harder to achieve a surplus

but they insist they're determined to deliver one. We

are dealing with the economic

circumstances but I'm not going

to be drawn on hypotheticals

because I think they've got the

capacity to mislead about what is happening in our

nation today. The government

says strength in Asia is still

Australia's best chance to ride

out the turbulence.

pen or power up the computer.

You can do either to complete

the national census tonight.

The snapshot of who we are and

what we do has been taken every

five years over the last century. Celebrating today,

some of the 29,000 collectors who retrieved those year it's anticipated more than 3 million house holds will use

the Internet instead. In the very unlikely situation where

we are overloaded, people have the opportunity to

participate in the census. In

fact, they can do it tomorrow

or even the next day. This

year the census will also

recognise same-sex marriages

for the first time. It's a

small step in the sense that

it's a statistical recognition

but the legal recognition

hasn't happened yet. To end the

discrimination in this country that we that we still face. The census

has collected information about

same-sex couples since 1996 but the Bureau of Statistics says

it's made the change to better reflect how reflect how Australians identify their relationships.

While most of us will fill out

this year's census form at home, many can't because they live on the streets. Normally

the homeless are counted on a

short form largely by

observation, but in northern Australia, the Australian Bureau of Statistics is

a new way to survey the area's

significant homeless

population. They marshal

Darwin at dawn. Specially

trained teams from all walks of life. Identify yourselves and

be respectful of that and

safety first. They're not

police or council workers,

they're census collectors. And

today they're seeking some of

society's most marginal jised

people, the homeless. There's

this year. They're actually interviewing

interviewing homeless people

and filling out normal census

forms with them. In the past

we've used a short form, a lot

of it only by observation. This

year we're actually sitting down asking them questions.

Across the parks and reserves

of Darwin as others commute to

work, the homeless find their

voice. I need a house to live

in. I'm homeless. I don't have

any house. I'm a good writer,

but yeah, it who can't read and write. In

another innovation, those

interviewing are often homeless

too. I realise that they needed

to have a bit of krofr what's going on in their lives and

they know everyone. On the

ground, you notice a real difference. The homeless know

who they're talking to and why.

They've gone from being a

phenomenon to be observed to

being people to be understood.

Census workers in northern

Australia hope this new

approach will give governments

and charities more information

best to help them. And in a place where a disproportionately high number of homeless of homeless people, it helps

make this census really count. The Federal Government is hoping to speed up the High Court case that's blocking its plans to send asylum seekers to Malaysia. The deal's been

stalled while refugee lawyers

challenge the government's

powers to deport asylum

seekers. The case is due before

the High Court in less than a fortnight, but the wants it heard sooner. We will

through the Solicitor-General be be seeking to bring an

application to ex ped tight the

hearing. Emergency aid has

been airlifted into Somalia's

capital Mogadishu for the first

time in five years. The first

of three shipments touched down just days after Islamist fighters announced they were pulling out of the city. said the supplies were

desperately needed as more

people flood into Mogadishu in

search of food. 100,000 people

have arrived in the past few weeks. The reason

doing this emergency airlift

today is that because of the

unprecedented situation, the

massive levels of displacement

of people by drought and famine

into Mogadishu. Famine has been

declared in five areas of the country. The UN estimates that

almost half of Somalia's 6 million people are in need of urgent urgent help. Victoria's

Goulburn Valley has taken

another economic hit with the

loss of 150 jobs at SPC

Ardmona. The company is closing

its processing plant but says

the job losses will be spread

between its three factories in

the region. The big fruit

canner blamed changing markets

and the high Australian dollar.

Brightly dressed for a dreary

day. Workers filed into the

meeting expecting the worst. They were told 150 SPC They were told 150 SPC Ardmona

jobs and the factory will

close. Not all workers will be out of a job. Some processing

positions will relocate to Shepparton and the finance

section will be moved to

Sydney. Workers at all three

factories will be offered

voluntary redundancy s, the

future for many is uncertain. Unless they get

enough people to put their hand up, company says the high Australian dollar has contributed to the are

structure. That's been the

biggest impact. In 2005, 20% of

our volume our volume went overseas. In

2010, it had dropped down to

10. Right now it's five. The

company is offering to relocate

SPC staff to other Coca-Cola

Amatil jobs in New South Wales, South Australia or Melbourne.

For those who have lived and

worked their entire lives in

the Goulburn Valley they're

unlikely to take up that offer.

The company is handling the

restructure much better than

Heinz which is cutting

just down the road. Heinz has been honestly very bad. SPC

says its business model has

changed little in 92 years and it now

it now needs to focus more on

the snack food market.

A second person has been A second person has been charged with the murmur der of a

a body of a man whose body was found

found on Northbourne Avenue

last Thursday. The looked distraught and slumped

in his chair when he was

charged with murdering the

27-year-old. He was extradited

from New South Wales last night

after being picked up by police

on a street in Queanbeyan. The

man was also charged with using man was also charged with using a baseball bat to menace the victim and rob him of his

mobile phone and $21 in cash. The

The man pleaded not guilty to both charges. Yesterday, in the Children's Court, a 17-year-old

boy was also charged with the

murder and using a machete in the robbery. Both the and the teenager have been remanded in custody until

October. The husband of New South Wales Cabinet minister

Pru Goward is to face court

over a firearms offence. David

Barnett was charged after

police carried out a routine

check of their property in Yass. Pru Goward told

Parliament her husband is

cooperating with the

police. Although locked his gun

safe contained a loaded rifle

and housed live am nicks. The

law states unloaded weapons

should be housed separately to

ammunition. Mr Barnett will

appear at Yass Local Court next

month A Senate inquiry has

heard firefighters are five

times more likely to develop

certain types of cancers than

the average Australian. Their

union wants the government to

acknowledge the link and extend

workers' compensation to

the line of duty. During his 26

years on the job, Roslyn lee fought thousands of fires, many

of them toxic. When he

developed blood cancer, he contacted WorkCover. They said

that you had to prove which fire it was that you actually

contacted cancer out of and you

couldn't do it. Where do you

start you?'Ve been to so many fires that contribute.

Legislation is currently before

Federal Parliament. If it passes, firefighters who

contract cancer will get workers' compensation. It doesn't matter what political

stripe you are. It's just the

right thing to do. Canadian

firefighter Alex Forest told a

Senate inquiry firefighters are present-day chimney sweeps,

suffered in carcinogens. He says while pro effective

clothing has improved it's

designed to shield firefighters from flames, not toxic

substances. It is such is a

small cost. If a firefighter

dies in the course of their work occupational cancer it's no

different than if they try

trying to rescue a small child

in a house when the roof collapses. This month marks

the 20th anniversary of the chemical explosion at Koot

Island in Melbourne. Ross

Linley Linley says firefighters have long risked their livers and now they're just asking for

support. This legislation won't

help me. For the future

firefighters, we need this. We

can't battle on our own. We

can't be tossed aside onto the street. Firefighters a ruling in the next few

months.

The future of the national

school chaplaincy program is

hanging in the balance after a High Court challenge from a

Queensland father of four began

today. Ronald Williams argues that the Federal Government

doesn't have the power to spend

taxpayers' money on the

program. Supporters of the chaplains fear an adverse

ruling would hurt students. If

this federal funding was to

cease, half the chaplains be removed overnight. That's

not a good result for our

kids. But Mr Williams says he's not trying to remove all

chaplains just those paid for

through the program. It's

purely about the funding for it. It's no more or

less than that. The States are supporting the case because

they're concerned about the

wider implications for

Commonwealth power. It appears cracks are

emerging in the glass ceiling. New New figures show that since 2009, there's been a significant increase in the

number of the boards of Australia's top

200 companies. But according to

the institute of company

directors the gender gap is still a long way from being

closed. It's a boardroom scene

that Belinda Hutchinson is well

used to. She's one of used to. She's one of only five female chairs of ASX 200 companies. A couple of years

ago, people really woke up to

the fact that we'd almost

stalled in terms of this issue

of getting women on to boards. That wake-up call has

brought about dramatic change N

20 # 9, only 10 women were

recruited to the boards of

Australia's top 200 companies.

In 2010, 59 women were

appointed, and so far this

year, 37 women have become

directors. The increase is

largely driven by new guidelines requiring companies

to make their selection

practices public. How is that

company going to go about achieving greater gender

diversity? But still still

only make up 12.7% of company

directors. You move them up

through the executive ranks but

we seem to be losing them at

the middle

Until we get women consistently into the senior executive

ranks, I think we will have a

problem. With four children of

her own, Belinda Hutchinson

knows the value of workplace flexibility,

flexibility, paid parental leave and child care

facilities. Make it a place

where they want to stay rather

than when they go off to have

children or go off to travel

they don't come back. And there

are calls for are calls for a cultural change. It's clear

business-wise, it's clear

morally, it's clear in all

respects. I mean, why would you choose choose your best candidates

from less than 50% of the population? It's stupid.

Perhaps the old boys' club is

no longer the place to be. In rugby league, South

Sydney is now just 4 points

outside the top 8 after

thrashing the Eels last Nathan Merritt crossed for five

tries to take his career tally

to 110 and become the clubs'

second highest try scorer. The 29-year-old filled

fullback last night for the

injured Rhys Wesser. Only four

games left now. So pretty much

need to win the four games remaining. So it's a huge confidence boost for us.

Hopefully we can carry it on Hopefully we can carry it on next week against the Raiders. The Roosters are

investigating be a incident

involving star player Todd

Carney and two of his team

mates. The trio may

a team drinking ban with a taxi

driver saying he gave them a

ride home at 2 o'clock this

morning. A disciplinary hearing

will take place tomorrow.

Australia has lost its second

Twenty20 match against Sri

Lanka by 8 runs. Brett Lee took Lanka by 8 runs. Brett Lee took

three wickets as the home side reached 9/157. Australia was its first six overs. Watson reached his 20

reached his 20 off reached his 20 off 13 deliveries, but a spin bowler's

delivery proved the difference.

The win gave the home side a

2-0 series victory. Now with a

look at the weather here's Mark

Carmody. Thanks, Virginia. Good

evening. The temperature got to

13 today, after a day sunny

day. This morning was frosty and

and foggy and that didn't clear

till mid to late morning,

that's because the winds were

very light early on, only picking up strength around picking up

lunchtime but they weren't a worry as they averaged just

over 20km/h. Tonight the

weather is almost perfect for

filling out that census form as

it's dry, mostly clear, the

barometer is steady and it's a

coolish 6 degrees.

Cloud over the south-east

and Tasmania is generating patchy rain, patchy rain, which resulted in

some localised flooding in

Tassie. Adelaide got 3 mm of some localised flooding in

rain today. Both cloud masses

are associated with low pressure systems that will slowly move east in the coming

days. As they do, they will

generate the odd shower here

and there. Around the State capitals

Thank you for that, Mark.

Before we go a brief recap of Before we go a brief

our top stories tonight. The

Australian share market has

staged a remarkable fightback

to finish slightly up, after to finish slightly up, after

shedding 5% earlier today. But

US traders are bracing for further losses when markets

reopen there. And there's been

a third consecutive night of

riots and looting in London,

with

other British cities. That's

the news for now. Next on 7.30, how will your super survive the

roller-coaster ride on the

markets? From me for now, goodnight. Closed Captions by CSI

This Program is Captioned Live. Welcome Live. Welcome to the program. A

new day in England has brought

fresh fears of my violence. The

nation's reeling from the worst

also been unrest there in 3 decades. It's

Australian stock market and

shortly we'll be speaking to

retirees about their fears for

their nest eggs. But first let's go to those extraordinary London scenes. Rioters are now rampaging far beyond the

capital. The violence has shut

down entire suburbs and terrified residents terrified residents are are

fleeing their homes. In a

desperate move, Scotland Yard has introduced special powers

in some areas to try to contain

the trouble. But is the police

presence on the ground su -