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Chair of casino assessment team appointed

Written By Unknown on Sabtu, 03 November 2012 | 00.51

NSW Premier Barry O'Farrell has appointed an independent chairman to oversee the next stage of James Packer's bid for a new Sydney casino.

David Murray, former chief executive of the Commonwealth Bank, will be in charge of the assessment team looking at the Crown Limited proposal for a $1 billion hotel and VIP gaming resort at Barangaroo.

Mr O'Farrell stressed that the move to the second stage of the government's unsolicited proposals process "does not necessarily guarantee final approval" of the complex.

"I am determined to act in the best interests of taxpayers and that's why the NSW government has appointed a respected businessman like David Murray," he said.

"The appointment of Mr Murray as independent chair will give the community confidence in the process and probity of the consideration of the Crown proposal."

The casino will only be approved if the review team finds that it will "deliver positive net benefits and a fair return for NSW taxpayers", the premier stressed.

Mr Murray was chief executive of the Commonwealth Bank of Australia from 1992 to 2005 and has more recently been chairman of the Future Fund. He stepped down from that role last April.

He now acts as a senior adviser for Credit Suisse and is the chairman of the International Forum of Sovereign Wealth Funds.

Mr Murray, who was made an officer in the Order of Australia in 2007, was born in NSW and lives in Sydney with his family.


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Chair of casino assessment team appointed

NSW Premier Barry O'Farrell has appointed an independent chairman to oversee the next stage of James Packer's bid for a new Sydney casino.

David Murray, former chief executive of the Commonwealth Bank, will be in charge of the assessment team looking at the Crown Limited proposal for a $1 billion hotel and VIP gaming resort at Barangaroo.

Mr O'Farrell stressed that the move to the second stage of the government's unsolicited proposals process "does not necessarily guarantee final approval" of the complex.

"I am determined to act in the best interests of taxpayers and that's why the NSW government has appointed a respected businessman like David Murray," he said.

"The appointment of Mr Murray as independent chair will give the community confidence in the process and probity of the consideration of the Crown proposal."

The casino will only be approved if the review team finds that it will "deliver positive net benefits and a fair return for NSW taxpayers", the premier stressed.

Mr Murray was chief executive of the Commonwealth Bank of Australia from 1992 to 2005 and has more recently been chairman of the Future Fund. He stepped down from that role last April.

He now acts as a senior adviser for Credit Suisse and is the chairman of the International Forum of Sovereign Wealth Funds.

Mr Murray, who was made an officer in the Order of Australia in 2007, was born in NSW and lives in Sydney with his family.


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Samsung's Galaxy Note II sales hit 3m

Written By Unknown on Jumat, 02 November 2012 | 00.51

SAMSUNG Electronics Co. says it has sold more than 3 million Galaxy Note II smartphones in a little over a month since its launch.

The South Korean firm said Friday sales of the oversize smartphone reached the figure 37 days after its September release.

The Note II is one of the two key mobile devices from Samsung on the high-end smartphone market. It features an oversize screen that measures 5.5 inch diagonally and a digital pen for note-taking.

Research firm IDC estimates Samsung topped the global smartphone market in the July-September third quarter with 56.3 million sales, more than double Apple's 26.9 iPhone sales.


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Royal duty officer 'discharged gun'

A SCOTLAND Yard investigation has been launched after a British policeman believed to be guarding the home of the Duke and Duchess of Cambridge accidentally discharged a gun while sitting in an unmarked car.

Nobody was injured when the officer, who was sitting in the vehicle with another policeman, let off the shot while on duty in north Wales last week.

A Met Police spokesman said: "Shortly before 1pm on Wednesday, October 24, an on-duty MPS police officer unintentionally discharged a firearm while in an unmarked police vehicle.

"The round damaged the floor of the vehicle. Another on-duty officer was in the vehicle at the time of the incident. Neither officer was injured.

"The officers were on duty in north Wales at the time."

Both the officers are attached to specialist operations, the Met said.

The spokesman said the Met's directorate of professional standards has been informed of the incident and the officer concerned has been removed from firearms duty pending the outcome of inquiries.

Prince William, or Flight Lieutenant Wales as he is known in his capacity as an RAF search and rescue helicopter pilot, captains Sea King helicopters from his unit's base at RAF Valley in north Wales.


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Parliament shifts from jovial to toxic

Written By Unknown on Kamis, 01 November 2012 | 00.51

HOW quickly the atmosphere in parliament can change.

Totally bipartisan tributes to Australia's latest VC winner on Thursday - the house's last sitting day for three weeks - gave way to exchanges over those two dreaded taxes, carbon and mining.

Julia Gillard did apply the word "mendacious" to Tony Abbott, who had the cheek to raise a Wall Street Journal editorial that pointed its readers to the mining tax for the "latest tutorial on lousy tax policy".

And Joe Hockey got himself kicked out after ignoring a warning that he claimed not to have heard.

That was believable. As Anna Burke complained: "You can't hear warnings because you are making too much noise."

Generally, though, it was all civil enough.

At one point it became positively jovial as Greg Combet gave us a Melbourne Cup-style race call on the Liberal leadership.

We had Malcolm Turnbull as a classy thoroughbred, Hockey hungry for a win but not up to Group One racing, Julie Bishop a real chance after being runner-up three times, Scott Morrison a promising weight-for-ager and (most cruelly) Bronwyn Bishop a 1994 favourite.

While there was, of course, a political point to it all - that the carbon price wouldn't affect the big event at Flemington next Tuesday - it was all good fun.

The cup, after all, only comes round once a year and plenty of politicians take a more than passing interest in it.

Then Julie Bishop returned to Gillard's role, if any, in a murky AWU fund of the early 1990s.

This is a matter that arouses raw hatreds, somewhat like those surrounding an earlier coalition opposition's pursuit of Paul Keating's piggery interests.

Bishop kept probing and Gillard kept insisting she'd dealt with everything at her news conference-to-exhaustion on August 23.

The PM also kept insisting that Abbott was hypocritical because he'd said only a few days ago that the fund stuff wasn't the main game.

Anthony Albanese and Christopher Pyne screeched and glared at each other across the dispatch box.

Gillard accused Pyne of "vile and ridiculous" comments, which Burke ordered her to withdraw.

The PM would prefer this inquisition, if it has to happen, from Abbott. She can hardly accuse Bishop of misogyny.

Not that Bishop, for all her icy determination, unearthed anything new.

She may, however, be making Gillard's line that everything was revealed last August look thin.


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Ten completes sale of Eye outdoor ad arm

TELEVISION broadcaster Ten Network Holdings said on Thursday that it had completed the long-anticipated sale of its Eye Corp outdoor advertising unit.

The buyer, which was reported several weeks ago, is Outdoor Media Operations (OMO), the owner of oOh!media, which is an Australian outdoor advertising specialist.

OMO is controlled by Champ Private Equity.

The $113 million sale price compares with a reported higher sale price offer of about $145 million only few months ago.

The agreement to sell Eye includes Eye's operations in Australia, New Zealand, US, UK and Indonesia.

OMO, with the assistance of Ten, intends to on-sell the US and UK operations of Eye to appropriate third parties.

Ten shares closed down one cent at 27 cents on Thursday, a fresh record low.

Ten in October launched a wide-ranging cost-cutting program, including cutting up to 100 jobs. Ten recently revealed a $13 million loss for the year ending August 31.


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Tokyo stocks close up 0.98%

Written By Unknown on Rabu, 31 Oktober 2012 | 00.51

TOKYO stocks have closed 0.98 per cent higher as investors welcomed news of the Bank of Japan's (BoJ) latest monetary easing measures aimed at boosting the world's third-largest economy.

The benchmark Nikkei 225 index at the Tokyo Stock Exchange on Wednesday rallied 86.31 points to 8,928.29, while the broader Topix index of all first-section shares rose 1.21 per cent, or 8.87 points, to 742.33.

The BoJ's Y11 trillion ($A134.06 billion) in fresh easing measures was announced just before the Tokyo market closed on Tuesday. The central bank also unveiled an "unlimited" loan program to commercial banks in a bid to spur their lending to businesses and households.

The easing injects liquidity into markets through purchases of government and corporate bonds and commercial paper.

Investors welcomed the measures following similar moves by central bankers in the United States and Europe, although it remained to be seen whether the BoJ's latest plan would quicken the lumbering Japanese economy.

The effectiveness of the new lending program hinged on the strength of demand for loans among companies and households, said Yoshihiro Okumura, general manager of research at Chibagin Asset Management.

"If there is no demand, it doesn't function," Okumura told Dow Jones Newswires.

However, the nation's companies continue securing big overseas deals on the back of a strong yen, including mobile carrier Softbank's recent announcement of a $US20 billion ($A19.38 billion) takeover of US-based Sprint Nextel - a deal largely financed by bank loans.

The Nikkei also got support from month-end buybacks, brokers said.

Heavily-weighted major exporters rose, with factory automation firm Fanuc rising 1.59 per cent to Y12,710 and Honda up 2.44 per cent to Y2,390.

Construction machinery maker Komatsu jumped 3.20 per cent to Y1,672 after saying its full-year profit forecast remained unchanged, despite a 30.2 per cent drop in earnings for the first six months to September.

Japanese manufacturers with exposure to China, including Komatsu, have seen their bottom line hit by a diplomatic row over an East China Sea island chain that has prompted a consumer move away from Japan-brand products.

Hitachi rose 3.17 per cent to Y423 after it maintained its full-year profit forecast while announcing it would buy British atomic power venture Horizon to expand its nuclear business overseas.


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About 120 dead horses to be removed in WA

MORE than 120 horse carcasses left rotting in a parched dam on a remote Aboriginal reserve in northeastern Western Australia will finally be removed after the local shire agreed to intervene.

The horses were seeking water when they became stuck in the mud at Balgo, an Aboriginal community within the Halls Creeks Shire, in WA's Kimberley.

About 40 carcases have already been removed but a further 87 dead horses have been counted at the site by members of the Balgo community.

Although the dam is technically on shire land, it's part of an Aboriginal community where few non-indigenous people venture.

The community's acting chief executive Yaja Nowakowski told AAP that the shire had agreed to send tractors to remove and burn the remains.

"They will make the dam safe to be used again," she said on Wednesday.

Ms Nowakowski said she expected the work would begin in the next few days and would be completed within two weeks.

She said the smell of the carcasses was overwhelming and was keeping people - including children who liked to play in the dam - away from the site at least until rain started to it fill again.

The state government would also provide emergency relief funding, she said.

Comment was being sought from the government.


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NT drink driver a slow learner

Written By Unknown on Selasa, 30 Oktober 2012 | 00.51

A 42-YEAR-OLD man's celebration at obtaining his learner's permit went wrong after police caught him one day later driving a car heavily drunk.

Police in Alice Springs said the man, who had only obtained his learner's permit on Monday, was stopped on Tuesday at 9am (CST) with a blood alcohol reading of 0.153 per cent.

Sergeant Conan Robertson said there were several passengers but they fled the scene after police stopped the car.

"It appears he has chosen to celebrate his new permit and car by getting drunk and then going for a drive, he didn't even bother to display his new L-plates," Sgt Robertson said.

Police said the man had driven past a school precinct before he was stopped at a random breath test.

"I am confident that the Northern Territory police have saved at least one life by locking this man up," Sgt Robertson said in a statement.

"It was only a matter of time before something horrible happened under these circumstances."


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Budget uncertainty threatens NDIS: Abbott

OPPOSITION Leader Tony Abbott insists the government is "crab-walking away" from its promised budget surplus and has warned it could threaten future funding for a National Disability Insurance Scheme (NDIS).

Mr Abbott on Tuesday said the coalition "enthusiastically supports" current government commitments for the NDIS, such as trial sites.

But the scheme needed the funding certainty provided by getting the budget back to a strong surplus as soon as possible.

"I regret to say that this is highly unlikely, indeed becoming increasingly impossible, under the current government," Mr Abbott told reporters in Canberra.

"The current government is crab-walking away from the promised surplus."

Mr Abbott again pursued Prime Minister Julia Gillard during parliamentary question time, asking if she could guarantee a surplus in 2012/13, given such promises had been made in the past.

Ms Gillard again referred Mr Abbott to the government's mid-year economic and fiscal outlook (MYEFO) released last week.

"In it we have delivered billions of dollars in savings ... to return the budget to surplus and we are on track to deliver it," she told parliament.

Ms Gillard questioned whether the opposition would support those savings measures, adding Mr Abbott couldn't be taken seriously when the opposition refused to allow its policies to be "properly" costed.

Shadow treasurer Joe Hockey continued the budget theme, asking Treasurer Wayne Swan whether he stood by a previous statement he would deliver a surplus "come hell or high water".

"We are bringing our budget back to surplus, and we stand absolutely by all of the forecasts that were contained in the mid-year budget update," Mr Swan replied.

"We could not be clearer than that."

Mr Swan said it was important to come back to surplus to give the Reserve Bank maximum flexibility when it comes to cutting interest rates, should they decide to do so.

The opposition appeared to be posing some sort of hypothetical "what-if scenario", he said.

"The fact is this, what if something happens in the global economy?" Mr Swan said.

"I say to them this, we have a proven track record of responding to the volatility in the global economy, and when our country was threatened, we saved it."

But opposition immigration spokesman Scott Morrison maintained the rising volume of asylum seeker boat arrivals would hinder the government's ability to deliver a surplus.

He said as many as 40 boats had arrived in Australian waters in October and arrival numbers were four times what the government had anticipated in the May budget.

"With the boats continuing to arrive, at the rate that they are, this will continue to crash this government's surplus," he said.

The opposition also pointed to the zero revenue from the government's minerals resource rent tax (MRRT) in the first quarter of its introduction.

But Trade Minister Craig Emerson said the opposition was indulging in "the ultimate in short-termism". The budget update forecast $2 billion in MRRT revenue for this financial year.

A Newspoll published in The Australian on Tuesday showed only one in four voters believe Labor will deliver a surplus.


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Lawyer in Mongolia may be in tax fight

Written By Unknown on Senin, 29 Oktober 2012 | 00.51

AN Australian lawyer being detained in Mongolia may be caught up in a fight over returns from a Rio Tinto mining operation, the head of an Australian parliamentary delegation which visited the mine recently says.

Tony Windsor told AAP on Monday he had no knowledge of the case of Sarah Armstrong, who works for a Rio Tinto subsidiary.

"But I imagine it would be linked to arguments over returns from the mine," he said.

"It's not all that dissimilar to the (Australian) Mineral Resources Rent Tax."

The delegation, members of the Regional Australia committee, went to Mongolia and Canada to see how other countries are dealing with controversial fly-in fly-out and drive-in drive-out mining workforces.

In Mongolia, it visited Rio Tinto's giant Oyu Tolgoi copper mine in the first week of September.

Mr Windsor, who made a brief statement to parliament on Monday, said Rio would need a fly-in fly-out workforce, mainly from the capital, Ulaanbaatar, but also from China.

However, Rio was "prioritising building the local workforce through building a local community".


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Seven in court over Vic drug bust

EDS: Changes keyword from Clandestine

By Melissa Iaria

MELBOURNE, Oct 29 AAP - Compiling evidence against seven men charged over one of Victoria's biggest ever drug labs may be delayed because of the sheer scale of the operation, a court has been told.

Seven men, aged 26 to 44, made their first appearances in the Melbourne Magistrates Court on Monday charged with manufacturing and trafficking large commercial quantities of methylamphetamine, following a swoop at suburban Sunshine West on Friday afternoon.

All of the accused - one Canadian national, one Vietnamese national, three South Australian men and two from NSW - were remanded in custody.

Lawyers for one of the men reported their client had a rib injury, while another accused sported a black eye in the dock.

None applied for bail.

Prosecutor Sarah Kavanagh told the court a brief of evidence was due to be served on the accused by January 21, but this might be delayed.

"Given the size and complexity of the brief, it's likely an extension of time application will be made," Ms Kavanagh told magistrate Julian Fitzgerald.

Police had executed search warrants at two homes in Joan Street and Alpini Parade, Sunshine West, acting on intelligence from the Australian Crime Commission (ACC).

The accused men are Canadian national Phuon Nam Nguyen, 32; Dien Nguyen, 38, of Bossley Park, NSW; Yana Orm, 26, of Paralowie, South Australia; Somkit Chankham, 44, of Salisbury North, South Australia; Huu Thanh Pham, 39, of Bossley Park, NSW; Anousone Somchanmavong, 27, of Salisbury North, South Australia; and Vietnamese national Cuong Viet Bui, 39, of Hai Phong.

Bui had his preliminary filing hearing adjourned until Tuesday so a Vietnamese interpreter could assist him.

The charged men will face a committal mention hearing on March 4.

Their arrests followed an investigation involving Victoria Police, the ACC, Australian Federal Police and the Australian Customs and Border Protection Service.

AAP mi/mn/nl/wj


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Hawaii tsunami warning after Canada quake

Written By Unknown on Minggu, 28 Oktober 2012 | 00.51

AN earthquake that struck in the Queen Charlotte Islands region off the west coast of Canada has generated a tsunami that is heading towards Hawaii, the Pacific Tsunami Warning Center said.

The first tsunami wave was expected to arrive in the Pacific island state at 10.28pm local time on Saturday (7.28pm AEDT Sunday), the Hawaii-based centre said.

Residents were advised to evacuate coastal areas, and warning sirens sounded across the Hawaiian islands.

Centre officials told CNN that waves of one to two metres were expected.

"Basically this tsunami is pointed right at us," Gerard Fryer, the centre's senior geophysicist, said on CNN.

The tsunami waves could wrap around the islands so all shores were at risk, the centre said, adding that the tsunami could consist of multiple waves.

The warning was issued after a magnitude 7.7 earthquake struck off the Queen Charlotte Islands late on Saturday.

No reports of casualties or damage were reported on the sparsely inhabited islands.

The West Coast-Alaska Tsunami Warning Centre also issued a warning for the coasts of British Columbia and Alaska.

Emergency officials in British Columbia said a small tsunami had been recorded on a deep ocean pressure sensor, but its effect was not immediately known.

The officials urged residents in low-lying coastal areas to be alert to instructions from local officials and be prepared to move to higher ground.

The Globe and Mail newspaper reported that the US Coast Guard in Alaska was trying to warn everyone with a boat on the water to prepare for a potential tsunami, the report said.

Natural Resources Canada said in a statement that the tremor was felt across much of north-central British Columbia.

"There have been no reports of damage at this time," the ministry added.

However, experts said tremors exceeding magnitude 7.0 were extremely dangerous.

"A 7.7 is a big, hefty earthquake. It's not something you can ignore," Gerard Fryer, senior geophysicist at the Pacific Tsunami Warning Center told CNN International.

He explained that the latest tremor had occurred partly under an island, but mostly under shallow water.

"I think we have to be thankful it happened where it did," Fryer said. "It definitely would have done significant damage if it had been under a city."

The Queen Charlotte Islands, which are also known by their official indigenous name of Haida Gwaii, comprise about 150 islands north of Canada's Vancouver Island. Their total population is about 5000.


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Union raises alarm on NSW asbestos

A SYDNEY power company has defended its safety practices after a union banned work on electricity meters amid fears workers and householders may have been exposed to asbestos.

The Electrical Trades Union (ETU) has stopped working on electricity meters in homes built prior to 1983 after Endeavour Energy, which covers about 800,000 homes in western Sydney, the Blue Mountains and the Illawarra, issued a hazard warning to staff.

The ETU, whose officials are due to meet with Endeavour representatives on Tuesday over the issue, says the ban is to protect the health of the union's members.

In a statement released on Sunday, Endeavour defended its safety practices, saying the safety of its customers and workers remained its top priority.

"We issued a pre-cautionary safety alert to our workforce on Friday after one of our staff reported the presence of dust residues in customers' meter installations in older homes," Endeavour's chief operating officer Rod Howard said.

"Some older homes built before 1988 may have customer meter boards containing asbestos which is perfectly safe in its bonded form.

"If it is drilled, workers are required to remove any residue according to standard industry safety practices."

Mr Howard said homeowners were not at risk but that they should contact a licensed electrician "if they needed to access their switchboard".

In the hazard alert, Endeavour said it understood "that the composition of meter boards installed prior to 1983 includes asbestos".

The power company said there would be no work on or near contaminated boards and staff would have to wear masks when working on meter boards in older houses until a review was completed.

An Endeavour spokesman told AAP he did not know how many homes across its network had meter boards that contained asbestos.

ETU secretary Steve Butler said the work ban was imposed because its members regularly worked on pre-1983 meter boards.

"Obviously the ETU's concern is that our members may come into reasonably regular contact with this product," Mr Butler told reporters on Sunday.

The president of the Australian Asbestos Diseases Foundation, Barry Robson, called on the company to inform all of its customers that there was a possibility their power boards contained asbestos.

Ausgrid, another major power supplier, said asbestos was commonly used in Australian meter boards installed prior to 1988, but it was used in bonded form which didn't present a risk.

Essential Energy acknowledged that older meter boards might contain asbestos which could pose a risk during drilling.


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