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Tree crash mum put under supervision

Written By Unknown on Jumat, 02 November 2012 | 16.57

A WOMAN who had her three children in her car and believed she was "taking them to heaven" when she deliberately drove into a tree in South Australia will spend more than 13 years under mental health supervision.

Earlier this year, the 34-year-old was found not guilty of three counts of attempted murder due to mental incompetence.

The mother and her children suffered minor injuries when she crashed her car into the tree at Ingle Farm, in Adelaide's north, in April last year.

In the SA Supreme Court on Friday, Justice Margaret Nyland said she accepted submissions that the woman acted impulsively.

"Apparently out of some misguided belief that she would be protecting the children from pain by taking them to heaven," the judge said.

"However, the defendant's actions have clearly had a significant impact on all of the children.

"Understandably, concern has been expressed through all of the victim statements about the need to ensure their ongoing protection and safety."

Justice Nyland ordered the woman to be supervised by mental health officials for the next 13 years and six months and ordered her to continue with a live-in counselling program.

She also limited the woman's access to her children.


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21 injured in chemical spill in NZ tannery

TWO people are in a critical condition and 19 others have been injured after breathing in hydrogen sulfide following a chemical spill at New Zealand's only leather tannery.

Emergency services were called to Tasman Tanning Company in Whanganui just before 5pm (1500 AEDT) on Friday following a chemical spill.

Whanganui District Health Boards spokeswoman Sue Campion told AAP on Friday evening that two people were in critical condition after breathing in hydrogen sulfide and were being flown to Wellington Hospital.

Hydrogen sulfide - a colourless, poisonous and flammable gas - can damage lungs and affect breathing.

Ms Campion said 19 others suffered minor to moderate injuries and were being treated at Whanganui Hospital.

About 20 firefighters were at the scene.

Media reported the emergency service staff were wearing chemical suits and there was a strong smell in the air.

Tasman Tanning Company, which started in 1953, employs about 200 staff.

The two people who are in critical condition are company staff.

Nineteen people - including a firefighter and five St John Ambulance staff - were treated for minor chemical inhalation but 17 have since been discharged from hospital.

Fire Service Assistant Area Commander Roger Calder told AAP a "cloud" of hydrogen sulfide had been created after two unknown chemicals had mixed.

"I have no idea what caused it, all I know is that two chemicals came together and produced hydrogen sulfide," he said.

"It is part of the process of tanning hides but of course something has gone wrong and caused it to either get too much or get too little [of one chemical]."

Those who came into contact with the chemical were decontaminated.


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Hong Kong shares end 1.33% higher

HONG Kong stocks climbed 1.33 per cent to a 15-month high on Friday as a strong set of US economic data added to confidence after the previous day's Chinese manufacturing figures.

The Hang Seng Index gained 289.46 points to 22,111.33, its highest since August 2, 2011, on turnover of HK$70.12 billion ($A8.74 billion).

"The (market's) direction looks to be quite clear and points to one way - up," Mark To, head of research at Wing Fung Financial, said.

The advance was in line with a regional rally, which came after Wall Street surged thanks to a bright batch of indicators that suggest the economy is gaining strength.

The US Conference Board index of consumer confidence for October rose to a better than forecast 72.2 in October, from a revised 68.4 in September, pointing to a pick-up in the crucial manufacturing sector.

Also, the Labor Department said weekly jobless claims continued their decline, falling a modest 9,000 to 363,000 last week - below the four-week moving trend of 367,250.

Adding to confidence was news auto sales continued to climb in October.

Meanwhile the Institute for Supply Management said its purchasing managers index (PMI) for the industrial sector rose to 51.7 from September's 51.5 reading. Anything above 50 points to growth.

The manufacturing figures followed a similar trend in China, where the official PMI swung back above 50 for the first time in three months, while a separate one by HSBC also showed an improvement, raising hopes for the world's number two economy.

There were also signs of life in PMIs from India, Indonesia, Taiwan and South Korea.

Gaming giant Sands China surged 6.3 per cent to HK$31.90 as revenue in Macau hit an all-time monthly high of $3.5 billion in October.

Fellow casino firm Galaxy Entertainment leapt 7.6 per cent to HK$29.05 and SJM Holdings closed 6.1 per cent up at HK$18.06.

Chinese shares closed 0.60 per cent up, with the Shanghai Composite Index rising 12.62 points to 2,117.05 on turnover of 55.9 billion yuan ($A8.69 billion).

The index is up 2.46 per cent for the week.

"There are some nascent improvements in economic fundamentals in China ... so that's likely to support sentiment for a while," Duan Wenyuan, an analyst at Soochow Securities, told Dow Jones Newswires.

Gree Real Estate surged by its 10 per cent daily limit to 6.36 yuan, Vantone Real Estate jumped 3.76 per cent to 3.59 yuan and Poly Real Estate rose 1.64 perc ent to 11.79 yuan.

China Communications Construction rose 2.61 per cent to 4.71 yuan while China Railway Construction gained 2.35 per cent to 5.22 yuan.


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Toxic Tas mussels recalled worldwide

A TASMANIAN seafood company has issued an international recall of its mussels after discovering potentially deadly toxins in some of its product.

Spring Bay Mussels had recalled supplies of live chilled and cooked mussels after tests found toxins from an algal bloom, the company said in a statement on Friday.

State Primary Industries Minister Bryan Green said initial results of samples tested on Friday showed the presence of paralytic shellfish toxin.

Such poisons can affect the human nervous system, and can be fatal if enough is eaten.

The company's east coast fisheries have been closed as a precautionary measure, which Mr Green described as "devastating" for its workforce, but necessary for public safety.

The company's managing director, Phil Lamb, said all its retail, wholesale and fishmonger clients had been notified, and the company was working with health authorities in Australia and New Zealand to alert consumers.

Mr Lamb said there had been no reports of illness from consumption of the company's mussels, but customer safety had to come first.

"We routinely check for toxins, but unusually warm sea water temperatures appeared to have caused algae growth earlier in the season this year," he said in a statement.

The company was alerted to the problem by routine testing of its product by an importing country this week.

Mr Green said samples showing the toxins would be sent to Sydney for analysis, with results due next week.

"Tasmania has an excellent reputation for high-quality, safe shellfish and it is hoped this is a short term event and will have no lasting impacts," he said.


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Hills to shed hundreds jobs in restructure

Written By Unknown on Kamis, 01 November 2012 | 16.57

TROUBLED clothes line, electronics and building products maker Hills Holdings is expected to shed hundreds of jobs as part of a massive restructure.

Newly installed chief executive Ted Pretty said he did not want to put an exact figure on the number of job losses until shift workers were informed on Thursday night, but he didn't deny that hundreds of people would be affected.

"I've seen that number reported and I won't be drawn, but it is a number you would expect to flow from the closure of one of our sites," Mr Pretty told a media call on Thursday.

The changes will cost the company as much as $110 million, as underperforming parts of Hills' businesses are closed.

Some products will be scrapped and jobs cut from its 2,642-strong workforce.

Hills' roofing business, Fielders, is likely to bear the brunt of the changes, while the Orrcon Steel arm and the company's lifestyle and sustainability businesses, whose brands include the Hills Hoist, Bailey Ladders and Team Poly water tanks, will also undergo major overhauls.

Shares in Hills closed 8.5 cents, or 11.2 per cent, higher at 84.5 cents on the news.

Mr Pretty said the restructure was needed because of the effect that slower economic conditions and a steeper-than-expected drop in construction activity were having on Hills' manufacturing businesses.

"My strong view is that recent events are a call to action to fundamentally review the way we operate and perform," Mr Pretty told shareholders earlier at the company's annual general meeting.

The company would consolidate some manufacturing activities, oversee the exit of certain products and businesses and sites and reduce staffing levels.

"We must now cut our coat according to our cloth," he said.

He said that Hills had no choice but to close some of its underperforming Fielders roofing branches until demand recovered.

The company expects the changes will allow it to reap savings of between $10 million and $15 million in the second half of the financial year and another $30-$40 million in 2013/14, subject to market conditions.

Shareholders were told that no dividend would be paid for the first half of 2012/13 but that the payments should return at the end of the year.

Both Orrcon and Fielders posted operating losses last financial year because of weak construction markets in Australia and New Zealand.

Mr Pretty, a former group managing director at Telstra, said the restructure would also involve Hills no longer making solar-hot-water specific products.

He also lashed out at the federal government for not recognising that businesses like Orrcon and Fielders should have been included in its steel transformation plan, along with BluesSope and Arrium.


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Evacuation alert lifted in north Qld

AN evacuation alert has been cancelled for the residents of a north Queensland town threatened by a large bushfire.

Firefighters were called to the blaze southwest of Ravenshoe at about 3.45pm (AEST) on Thursday afternoon.

With 10 crews fighting the flames, residents of Millstream were warned to get ready to evacuate.

That alert was lifted on Thursday evening but the Queensland Fire and Rescue Service said 12 crews would keep working on backburning.

With an increased fire danger predicted for Friday the service said crews would work through the night to make sure the blaze is fully contained.


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Govt workers charged with $82,000 thefts

TWO West Australian government employees have been charged with fraud and stealing, with one alleged to have fraudulently used more than $66,000 worth of Cabcharge vouchers.

Major fraud squad detectives on Thursday revealed that two separate government agencies had been investigated.

A 55-year old Wembley man has been charged with seven counts of fraud, following a probe into the misuse of corporate credit cards.

Police will allege that between 2007 and 2011, the man, who was employed as a senior manager, used his corporate credit card for unauthorised purchases worth more than $16,000.

He is due to appear in Perth Magistrates Court on December 5.

Those charges came after an investigation into corporate credit card misuse at a separate government agency, which resulted in allegations that a 60-year old Parkwood woman unlawfully used Cabcharge vouchers while employed as a senior manager.

The purchases were in excess of $66,000, police said.

The woman is due to appear in Perth Magistrates Court on January 16 to answer five counts of stealing as a servant.


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Seven kidnapped sailors freed in Nigeria

KIDNAPPERS have freed six Russian sailors and an Estonian who had been abducted from a ship off Nigeria's southern delta, a French oil and gas services company says.

Paris-based Bourbon SA said in a statement that the sailors were in good health despite facing "difficult conditions while in captivity". The company said the men would leave Nigeria in several days after undergoing medical tests and psychological examinations.

The company statement said Bourbon would not take any questions regarding the sailors' release on Wednesday and did not say if a ransom had been paid to free them.

Typically, foreign companies operating in Nigeria's Niger Delta pay cash ransoms to free their employees after negotiating down kidnappers' demands. Foreign hostages can fetch hundreds of thousands of dollars apiece.

Military spokesman Lt. Col. Onyema Nwachukwu did not immediately respond to a request for comment.

The kidnapping happened during an attack October 15 on a Bourbon ship near the Niger Delta, where the company works closely with oil companies like Chinese-owned Addax Petroleum. Gunmen apparently attacked the Bourbon Liberty 249 and seized the sailors before escaping, the company said.

Another nine sailors onboard the vessel sailed safely away to the company's port in Onne in Nigeria's Rivers state, the company said.

The attack occurred near the Pennington River off Bayelsa state, military officials later said. That's close to the Pennington Export Terminal run by US-based Chevron Corp., which loads crude onto large oil tankers for export to the West.

Foreign oil companies have pumped oil out of the Niger Delta, a region of mangroves and swamps the size of Portugal, for more than 50 years. Despite the billions of dollars flowing into Nigeria's government, many in the delta remain desperately poor, living in polluted waters without access to proper medical care, education or work. The poor conditions sparked an uprising in 2006 by militants and opportunistic criminals who blew up oil pipelines and kidnapped foreign workers.

That violence ebbed in 2009 with a government-sponsored amnesty program that offered ex-fighters monthly payments and job training. However, few in the delta have seen the promised benefits and sporadic kidnappings and attacks continue. The last major kidnapping happened in August, when gunmen attacked a vessel operated by Sea Trucks Group, another oil and gas contractor, and abducted four workers. The workers were later released unharmed.

Bourbon operates support vessels for offshore oil rigs and provides repair, inspection and maintenance services for undersea oil fields, and has a smaller unit that ships commodities like coal, grain and timber worldwide. The company had revenues of 1 billion euros ($A1.26 billion) last year.


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Teen tried to save ear after dog attack

Written By Unknown on Rabu, 31 Oktober 2012 | 16.57

A TEENAGER who lost his ear in a Sydney dog attack has told how he ran to a friend's house to put it in the freezer, hoping to save it.

Two American Staffordshire terriers attacked the teenager, named by Seven News as Ben Arthur, as he tried to save his own pet.

Surgeons have told Ben he is lucky to be alive, Seven news reported. However, his ear was too badly damaged to be reattached.

Ben had been walking his dog, Costa, when he was set upon by the animals in East Hills, in southwestern Sydney on Tuesday afternoon.

The dogs, one of whom was called Angel, were put down on Wednesday afternoon.

Police originally said they were pitbull terriers - a breed banned in NSW - and that is what Ben believes they were.

"Two pitties ran around the corner and they just started unleashing on my dog," Ben told Seven news.

When he tried to rescue Costa, the two dogs went for his legs.

"As I bent down to get my leg, that's when one of them grabbed me on the ear," he added.

Neighbours rushed to help and the dogs fled. Ben had been bitten on the head, with one of the animals tearing off his left ear.

"I grabbed my ear and went up to my mate's house, and then I put my ear in the freezer," Ben said in the interview.

Despite his quick thinking, surgeons at Liverpool Hospital were unable to save his ear. A new one will be reconstructed from cartilage.

He was also treated for puncture wounds to his leg.

Bankstown City Council said a decision on further fines or possible court action against the owner would be made after interviews with the victim.


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'Troll' apologises for false Sandy tweets

THE Twitter "troll" who became an online villain after several false tweets about the destruction of Hurricane Sandy has apologised and resigned from a Republican congressional campaign.

Twitterati had heaped criticism on @ComfortablySmug after the micro-blogger claimed the New York Stock Exchange was flooded and that Consolidated Edison was shutting off all power to New York City during the storm.

Both "breaking" news posts were refuted by authorities, but not before being retweeted hundreds of times, sparking panic as the massive storm devastated the US east coast and claimed dozens of lives.

After going silent for several hours, on Tuesday evening @ComfortablySmug offered "the people of New York a sincere, humble and unconditional apology".

"During a natural disaster that threatened the entire city, I made a series of irresponsible and inaccurate tweets," the user wrote.

"While some would use the anonymity and instant feedback of social media as an excuse, I take full responsibility for my actions."

The Buzzfeed online news site had earlier identified @ComfortablySmug as a 29-year-old hedge fund analyst and the campaign manager of New York Republican congressional candidate Christopher Wright.

@ComfortablySmug did not identify himself or herself in the mea culpa, but confirmed that he or she had resigned from Wright's campaign.

Wright's campaign website said on Tuesday that his campaign manager had resigned and been replaced, without providing further details.

Angry Twitter users had heaped criticism on @ComfortablySmug after the postings were shown to be made-up, and many remained furious after the apology, saying the prank had given social media a bad name.

"Kudos on your direct apology and owning up to your bad behaviour. But why?" wrote Joe Grossberg at @grossberg.

"You're only sorry you got caught. Have a nice life hating yourself scumbag!" wrote Tom Reynolds at @tomreynolds.

Others called on @ComfortablySmug to make amends to storm victims and to reporters who might have been put in danger by trying to verify the claims.

"You sir, are an example of Twitter at its worst. How about you help rescue victims on, say Long Island?" Viviane at @viviane212 wrote, referring to one of the hardest-hit areas.


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Wheat deregulation pushed through house

LABOR has combined with the Greens, independent MPs and WA Nationals MP Tony Crook to push through legislation to fully deregulate the wheat industry.

Agriculture Minister Joe Ludwig confirmed on Wednesday the government would support Greens amendments, including the formation of an expert industry taskforce to deal with stock reporting and wheat export standards.

A last ditch attempt by coalition agriculture spokesman John Cobb to amend the bill in the lower house and delay deregulation was defeated 66 votes to 70.

WA Nationals MP Tony Crook crossed the floor to join the government, alongside independents Peter Slipper, Rob Oakeshott and Green Adam Bandt.

Mr Crook told parliament he had received a lot of criticism, much of it from the coalition, about his decision to support final deregulation.

"I'm not supporting a Labor bill, I'm supporting Western Australian wheat growers and the Western Australian wheat industry," he told parliament before voting with the government.

An overwhelming majority of WA growers, the nation's largest wheat exporters wanted the bill and wanted it now, Mr Crook said.

"There was no other choice to be made."

Former coalition MP turned independent Peter Slipper launched a stinging attack on deputy opposition leader Julie Bishop for her decision not to support the views of WA wheat growers.

"The Liberal party's position has no political credibility at all and it's all about naked politics," he said.

"The approach being urged upon Liberal party members by the deputy leader of the opposition indicates that the Liberal party is resigning from its political principles."

Mr Slipper said while it was not historically a government of free enterprise, Labor had had the courage to introduce the bill and he had not abandoned his conservative values.

Environment Minister Tony Burke said before the vote that the Liberals were taking the opposite approach to free enterprise by voting against the legislation.

"I feel for those members of the Liberal party who actually believe in free enterprise," Mr Burke told parliament.

"Unless they cross the floor they are about to vote against it."

Mr Burke said he had some level of respect for the National party position because they had been consistent in their opposition to the dismantling of the single desk and market deregulation.

The Liberal party's history on deregulation would be fundamentally changed by the vote, he said.

NSW Liberal MP Alby Schulz reversed his decision to cross the floor and supported the coalition, alongside NSW independent MP Tony Windsor.

WA Liberal Dennis Jensen abstained from voting after earlier telling the lower house he could not oppose the bill.

The Wheat Export Marketing Amendment Bill 2012 was passed, 70 votes to 67.

It now goes to the Senate for consideration.


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Doing his job, Obama subtly campaigns

IT may look to America like President Barack Obama is off the campaign trail. He's really not.

By commanding the response to a ferocious October storm a week before the election, Obama is employing a political advantage in the race to be president.

He is the president.

Clearly, Obama's imperative to act transcends the election. Superstorm Sandy's wrath is real. At a time of death and danger, any president is expected to lead for the people of every state, battleground or otherwise.

Yet in a political sense - and politics are absolutely part of this - Obama has a remarkable last-minute chance to campaign for his job just by doing his job.

Republican nominee Mitt Romney can load canned food on to donation trucks as he did in Ohio on Tuesday; Obama can order aid and assets to the entire northeastern corridor.

Labelled by Romney as the big government guy, Obama is the one slashing red tape and telling governors to call him directly if they hit a single bureaucratic snag.

The presidential race is tied or close to it in all the states that matter, so Obama is taking on risks, too, by halting days of official campaign events as Romney resumes them.

Every rally Obama scraps means one less chance to implore people to vote early, as many states allow, or to vote at all. The storm is consuming attention for much of the East Coast, particularly in New York and New Jersey, but has far less resonance in the key states where the weather is fine.

And, of course, Obama can blow it.

Each major storm still lives in the harrowing legacy of Hurricane Katrina, which is why Obama has offered declarations like: "There are no unmet needs."

Advisers to Obama said that in a data-driven campaign, the storm emerged as an unpredictable factor - and, therefore, so is how voters will respond to Obama's moves.

The politics of Obama's storm response are not overt. The point is to go the other direction and just be presidential.

So gone, for three days and counting, are the rallies in which Obama expressly asks people to re-elect him. Instead, voters see images of Obama in charge in the Situation Room, or addressing the country from the White House briefing room, or assuring the hurting while visiting the American Red Cross that "America is with you".

To the independent and undecided voters sick of the mess in Washington, Obama appears bipartisan and positively unconcerned about his own political fate.

His best friend is suddenly a prominent Romney supporter, New Jersey Governor Chris Christie, with whom Obama will tour damage on Wednesday.

"The president has been all over this, and he deserves great credit," Christie, a Republican, gushed in a TV interview. By contrast, when Christie was asked whether Romney was coming to help, he said, "I have no idea, nor am I the least bit concerned or interested."

The decision on when Obama will shift back from a heavy governing role to traditional campaigning is being driven by the White House, not the re-election campaign, aides say.

Members of the tight inner circle of both operations appear plenty content with the position Obama commands so far this week.

"The president is focused on exactly what the American people elected him to do, which is manage the country in the event of crisis," campaign spokeswoman Jen Psaki said.

It is the kind of statement that leaves Romney little counter, because there is no good political move in undermining American unity.

On the flipside, even with a priority on safety and recovery for storm victims, the Obama camp's underplaying of all things political seems a mighty stretch.

On Tuesday, one week from Election Day, Vice President Joe Biden went so far as to say, "Honest to God, I don't think anyone's thought about that."

Romney, without government authority but with a real shot at unseating the president, has been mindful of his tone, too.

"We are looking for all the help we can get for all the families that need," Romney said in an Ohio gym. He stood in front of a neatly lined table of toothpaste, nappies and blankets. His donate-for-storm-relief event, though, welcomed supporters with a campaign video declaring how he would make America strong again.

More than one Obama adviser suggested Romney was blurring precisely the line that the president would never dare cross.

"Soon enough we'll need to get back to work on the most important campaign of our lifetime," campaign manager Jim Messina said in an email. It looked like so many of the fundraising appeals he has sent out for Obama's re-election bid. In this one, he was lobbying people to donate to the American Red Cross.

As for the back-to-campaigning part of Messina's message, Obama has campaign stops scheduled in Nevada, Colorado and Ohio on Thursday.

They remain a go, for now, while Obama monitors the storm.

And while voters monitor him, not campaigning, even as he is.


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Tokyo stocks close down 0.98%

Written By Unknown on Selasa, 30 Oktober 2012 | 16.57

TOKYO stocks have closed down 0.98 per cent after the Bank of Japan (BoJ) announced fresh easing measures while chopping its growth outlook for Japan's economy.

The benchmark Nikkei 225 index at the Tokyo Stock Exchange on Tuesday fell 87.36 points to close at 8,841.98, its lowest finish in about two weeks, while the broader Topix index of all first-section shares lost 0.92 per cent, or 6.84 points, to 733.46.

Following its meeting earlier on Tuesday, Japan's central bank announced Y11 trillion ($A134.14 billion) in additional monetary easing as a string of new data underscore slowing in the world's third-largest economy.

The BoJ said it would expand an asset-purchase program - its main policy tool - to Y91 trillion while keeping rates unchanged at zero to 0.1 per cent.

It follows a similar announcement last month.

The central bank also slashed its growth forecast in the fiscal year to March, saying the nation's economy would expand just 1.5 per cent, well off an earlier 2.2 per cent forecast, underlining the effect of the global slowdown and strong yen, which hurts exporters.

On currency markets, the dollar fell to Y79.50 after the BoJ announcement from Y79.90 before. Easing would tend to weaken the Japanese currency but analysts said the measures had largely been priced in.

"Any way you slice it, 10 trillion yen worth of buying in September, and now 11 trillion this month adds up to a great deal of easing," said CLSA equity strategist Nicholas Smith.

The BoJ move came as official data on Tuesday showed factory output came in weaker than expected for September, declining 4.1 per cent on-month, while Japan recently posted its worst September trade figures in more than 30 years, as a territorial dispute with China hit exports.

In Tokyo trade, shares in Sharp Corp jumped 6.17 per cent to Y172 on a report that the embattled Japanese electronics maker is in talks with US tech giants Apple, Google and Microsoft on forming business and capital tie-ups.

Nomura Holdings rose 1.41 per cent to Y287 after Japan's top brokerage said on Monday it eked out a $US35 million ($A34.03 million) net profit in the July-September quarter.

Honda Motor fell 2.75 per cent to Y2,333 after diving 4.65 per cent on Monday as the Accord and Civic maker cut its full-year profit outlook.

Troubled chipmaker Renesas Electronics was down 2.64 per cent at Y295 after posting a $1.18 billion loss in its fiscal second quarter.


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Bank of Japan lays out further stimulus

JAPAN'S central bank has expanded a government bond-buying program, acting to spur growth following news of a further decline in industrial production.

The Bank of Japan's policy board voted unanimously on Tuesday to increase the asset purchasing program by Y11 trillion ($A134.14 billion) to Y91 trillion.

The central bank decided against any change in its key interest rate, which remains at 0 per cent to 0.1 per cent.

The bond-buying program is intended to encourage borrowing and spending and help make Japan's exports more competitive.

A fresh barrage of negative data on Japan's failing recovery pumped up pressure for the central bank to act to help revive the world's third-largest economy.

Japan's industrial output contracted by 4.1 per cent in September from August and 8.1 per cent from a year earlier as automakers and steel mills cut production due to shrinking demand and antagonisms with China, according to the Ministry of Economy, Trade and Industry.

The economic recovery that followed Japan's March 2011 disasters has been doused by slowing global growth. Flaring tensions with China over disputed islands in the East China Sea have further crimped demand, especially for big-ticket items like cars. Slowing growth in China, meanwhile, has hit demand for industrial inputs like steel and machinery.

"Industrial production is on a downward trend," the ministry said, forecasting a further decline in October, followed by a rebound in November.

Embattled Prime Minister Yoshihiko Noda convened an extraordinary session of the legislature on Monday, appealing to the opposition Liberal Democratic Party to cooperate in passing a bill authorising bond sales to finance the growing deficit.

Japan's Cabinet approved a Y423 billion ($A5.16 billion) emergency stimulus package on Friday, double the size originally expected. The government was obliged to dip into reserves to pay for the new stimulus, since its leeway to boost spending is limited by a legislative standoff preventing issuance of some $US38.3 trillion ($A37.24 trillion) in deficit financing.

As it confronts that "fiscal cliff," which could raise the country's borrowing costs, Japan already leads industrial nations with government debt amounting to more than twice the country's gross domestic product.

"We still have work to do," Noda said on Monday in a speech that repeatedly reminded MPs of their responsibility toward future generations. He warned that funding shortfalls threaten to affect crucial government services.

Noda's Democratic Party of Japan is struggling as the Liberal Democrats gain in power. He was obliged to present his policy speech Monday in the House of Representatives after the LDP, which controls the upper house of the parliament, blocked him from delivering the speech in that chamber.

Apart from the political mess, exports, usually a bright spot for Japan's economy, are faltering as the prolonged crisis in Europe crimps demand. Another problem is the persistent strength of the yen, which makes products made in Japan relatively more expensive in overseas markets.

Shipments of passenger cars dropped 12.6 per cent in September from August and 13.2 per cent from a year earlier, METI reported. Shipments of virtually all other products also fell.

Jobless rate figures for September likewise offered little encouragement, as the government reported the seasonally adjusted unemployment rate was 4.2 per cent in September, unchanged from August.

The ratio of job offers to seekers fell to 0.81 from 0.83 in August, meaning there were 81 jobs for every 100 job seekers.


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Aust a better investment destination: RBA

AUSTRALIA is better equipped to deal with the effects of overseas economic problems, thanks partly to its attractiveness as an investment destination, a senior central bank official says.

Reserve Bank of Australia (RBA) deputy governor Philip Lowe also told the Commonwealth Bank's Australasian Fixed Income Conference in Sydney that the high Australian dollar had helped the country navigate though a once-a-century-investment-boom.

He said that the Australian economy had recorded solid growth, the unemployment rate remained relatively low, inflation was consistent with the target, public debt was low and the banking system sound.

"Few countries can make such claims."

He said the fact that the RBA's interest rate was above those of the other industrialised countries was helpful, especially to investment.

"The main reason for this is that the rate of return on new investment in Australia is higher than in many other countries, as evidenced by the high level of investment," he said.

"The very low interest rates in many other economies should not be seen as a good thing or something to aspire to.

"They reflect those countries difficult economic circumstances, and particularly the low risk-adjusted returns available on new investment."

Dr Lowe said this has meant that while many of the advanced economies struggled to attract investment, Australia has had the highest level of investment, relative to economic growth, in over a century, and a further increase was expected.

The RBA cash rate, of 3.25 per cent, is much higher than those of the US, Europe, the UK and Japan, all of which are below one per cent with most close to zero per cent.

The central banks of these countries cannot cut their interest rates any lower to stimulate growth and therefore buy bonds and mortgage-backed securities to free up commercial bank funds and encourage lending, a policy called quantitative easing.

Dr Lowe said this had worked, helping increase market confidence but has also driven down the yields on government bonds, which has decreased the cost of borrowing for debt-laden nations.

It had also increased investment flows into bonds markets for a higher return, that, of course, included the Australian bond market, that could boast yields of over three per cent.

"When institutions look for alternatives to holding large deposits earning a near-zero return, they look not just at domestic assets but at foreign assets as well," Dr Lowe said.

"Not surprisingly, with the rest of the world doing better than the troubled advanced economies, many of the assets earning positive risk-adjusted returns are located outside the countries undertaking quantitative easing."


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Hong Kong shares end down 0.38%

HONG Kong shares have fallen 0.38 per cent, a third straight drop, with developers and Chinese banks the main losers as the index continued to correct after a 10-day winning streak.

The benchmark Hang Seng Index on Tuesday eased 82.47 points to 21,428.58 on turnover of $HK46.08 billion ($A5.79 billion).

"The market may take a breather in November and then resume the uptrend in December for a traditional year-end rally," Ben Kwong, chief operating officer at KGI Asia, told Dow Jones Newswires.

China banks were hurt after China Citic Bank reported its third-quarter net profit fell 15 per cent year-on-year.

ICBC fell 1.8 per cent to $HK5.03, China Construction Bank slipped 1.4 per cent to $HK5.71 and Bank of China closed down 1.6 per cent at $HK3.12.

Hong Kong property firms fell for a second straight session, with New World Development off 2.8 per cent at $HK11.74 on top of its 6.4 per cent fall on Monday in reaction to government measures to curb soaring prices.

Fosun Pharmaceutical fell 8.1 per cent to $HK10.84 on its debut.

However, developers were the main gainers in Shanghai as Chinese shares closed up 0.17 per cent. The benchmark Shanghai Composite Index rose 3.41 points to 2,062.35 on turnover of 42.8 billion yuan ($A6.71 billion).

"Major developers' satisfactory sales performance this year and accelerated land purchases should provide good support to their share price performance," CIMB Securities analyst Johnson Hu told Dow Jones Newswires.

Poly Real Estate gained 2.52 per cent to 10.98 yuan and Gemdale climbed 2.20 per cent to 5.11 yuan after both companies reported year-on-year rises in net profit for the third quarter.

Liquor-makers also rose, with Xinjiang Yilite Industry surging by its 10 per cent daily limit to 13.09 yuan after it announced a profits rise. Kweichou Moutai added 1.14 per cent to 244.58 yuan.


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UK flights cancelled ahead of US hurricane

Written By Unknown on Senin, 29 Oktober 2012 | 16.57

DOZENS of British flights to and from the east coast of America have been cancelled because of the threat of Hurricane Sandy.

British Airways (BA) has grounded all flights to and from the US eastern seaboard, including New York, Baltimore, Washington, Boston and Philadelphia.

A number of BA flights from the US to London have also been halted.

Virgin Atlantic has cancelled flights to and from New York, Washington and Boston.

A statement on BA's website said: "We understand that customers may be disappointed, however their safety is our highest priority. We are offering the option to rebook or receive a refund to those customers whose flights are cancelled.

"We have also received reports that public transport links to East Coast US airports may be disrupted so advise customers to review their flight and local travel plans before leaving for the airport."

A spokesman for Virgin Atlantic said last night: "Passenger and crew safety is our number one priority and we are continuously liaising with local authorities to assess the situation and minimise the disruption caused to passengers.

"We advise all passengers to check our website: www.virginatlantic.com for the latest updates and advice."

Heathrow Airport is advising passengers who are due to fly to the US on Monday to check the status of their flight with their airline before travelling.

Hurricane Sandy is threatening 50 million people on America's heavily-populated East Coast today and forecasters warned that New York could bear the brunt of the one-of-a-kind superstorm.

Forecasters warned the megastorm could wreak havoc over 1287 kilometres from the East Coast to the Great Lakes.


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Tokyo stocks flat at close

TOKYO stocks have closed flat as dealers took a wait-and-see position ahead of a Bank of Japan policy meeting, while carmakers fell after Honda slashed its full-year profit forecast.

The benchmark Nikkei 225 index at the Tokyo Stock Exchange on Monday slipped 0.04 per cent, or 3.72 points, to 8,929.34 while the broader Topix index of all first-section issues was down 0.13 per cent, or 0.93 points, to 740.30.

Stocks gave up early gains and started the afternoon session lower, pushed down by the midday release of Honda Motor's earnings report.

Honda shares dived 4.65 per cent to close at Y2,399 after it said its full-year results would be much weaker than forecast even as its first-half profit more than doubled to $US2.7 billion ($A2.62 billion).

"Honda's sales apparently felt the impact from a weaker China market, as well as the stronger yen, and raised the possibility that it will revise down its full-year view yet again," said Hideyuki Ishiguro, strategist at Okasan Securities.

"Of course Honda's problems are not unique. The magnitude of the China impact may be most felt in Nissan's earnings, since it has the heaviest proportional exposure to China," he told Dow Jones Newswires.

The release of the figures had been set for after markets closed, but came out several hours earlier with the company blaming a "human error".

Nissan Motor fell 2.18 per cent to Y670, while Toyota Motor lost 1.62 per cent to Y3,030.

Japan's central bank is widely expected to take further easing steps at a policy meeting on Tuesday as it looks to counter a slowdown in the world's third-largest economy and tackle the deflation that has plagued it for years.

With interest rates hovering near zero, the bank's main policy tool is an Y80 trillion ($A975.02 billion) asset-purchase program.

"The markets have pretty much factored in an additional 10 trillion yen in asset purchases by the central bank," said Tatsunori Kawai, chief strategist at kabu.com Securities.

NEC rose 5.71 per cent to Y148 after the information technology giant announced on Friday it booked a $US100 million profit in its fiscal first half thanks to a boost in sales and cost-cutting.

Japan's biggest mobile carrier NTT DoCoMo tumbled 5.99 per cent to Y116,000 after it cut its full-year profit forecast owing to rising costs.


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Woodside signs deal with Japan Bank

WOODSIDE Petroleum has signed a preliminary agreement with the Japan Bank for International Cooperation (JBIC) to help finance future liquefied natural gas (LNG) projects.

The oil and gas producer said the memorandum of understanding (MOU) aimed to support Japan's requirement for stable and long-term energy supplies.

Woodside said the MOU strengthened the long-term relationship established between the two organisations through the financial support that the Japanese bank provided for the Pluto LNG project.

"Under the agreement Woodside and JBIC will hold periodic discussions relating to Woodside's future LNG developments and JBIC will consider providing financial support for those potential developments as well as creating opportunities for Japanese companies to participate in Woodside's future LNG developments," the company said.

The agreement comes after Woodside last week struck an agreement with Daewoo International Corporation for a production sharing contract in Burma, the first time the oil and gas producer will operate in deep water off Burma.

In May Woodside Petroleum signed a $US2 billion ($A1.92 billion) deal to sell part of its stake in the Browse gas project to Japan's Mitsubishi Corporation and Mitsui & Co.

The Japanese companies will buy a 14.7 per cent stake in the $30 billion LNG project through their Perth-based joint venture company, Japan Australia LNG (MIMI).

MIMI helped obtain finance from Japanese banks, including JBIC.


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Hong Kong shares slip 0.16%

HONG Kong shares have lost 0.16 per cent as developers were hit after the city's government outlined plans to curb soaring property prices.

The benchmark Hang Seng Index on Monday fell 34.52 points to 21,511.05 on turnover of HK$47.07 billion ($A5.89 billion).

The losses are the second in a row after the index enjoyed a 10-day winning streak up until Friday, thanks to huge foreign capital inflows after the US Federal Reserve launched its third bond-buying scheme last month.

The Hong Kong government unveiled on Friday fresh measures to keep a lid on property demand, including a 15 per cent tax on purchases made by foreigners.

Sun Hung Kai Properties, the city's largest developer by market capitalisation, slumped 5.1 per cent to $HK106.10, while Cheung Kong fell 4.7 per cent to $HK112.30 and Henderson Land, New World Development and Sino Land each took a 6.4 per cent hammering.

However, the losses were tempered by Sinopec, which jumped 2.9 per cent to $HK8.25 despite reporting its third-quarter net profit fell 9.4 per cent year-on-year.

And China Construction Bank rose 0.9% to $HK5.79 after third-quarter earnings came in 12 per cent higher.

Chinese shares closed down 0.35 per cent. The benchmark Shanghai Composite Index fell 7.27 points to 2,058.94 on turnover of 39.1 billion yuan ($A6.11 billion).

"The third-quarter macroeconomic data has shown some signs of the economy bottoming out, but recent corporate earnings show that demand has yet to recover," Nanjing Securities analyst Zhou Xu told Dow Jones Newswires.

Lower prices hit rare earths producers. Baotou Steel Rare-Earth slumped 5.43 per cent to 27.35 yuan while Xiamen Tungsten lost 3.77 per cent to 33.67 yuan.

China Pacific Insurance dropped 3.23 per cent to 18.25 yuan after it posted a nearly 60 per cent year-on-year decline in third-quarter net profit.

Other insurance firms fell ahead of the release of their corporate earnings, with Ping An Insurance losing 4.23 per cent to 38.06 yuan and New China Life Insurance shedding 1.63 per cent to 21.73 yuan.


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Soldier killed in Afghanistan arrives home

Written By Unknown on Minggu, 28 Oktober 2012 | 16.57

THE family of combat engineer Scott Smith have attended a sombre ceremony as the fallen soldier's body arrived in Australia from Afghanistan.

The 24-year-old corporal was killed instantly last week when an improvised explosive device (IED) detonated during a mission in northern Helmand province.

Family and comrades were at the Richmond RAAF Base in Sydney on Sunday to meet a C-17 Globemaster aircraft carrying his body.

Members of his Special Operations Engineer Regiment formed a guard of honour and bearer party to escort his casket to his family.

Special Operations Commander Australia Warwick "Gus" Gilmore said Corporal Smith would leave a lasting legacy.

"Scott was universally respected by everyone in the Special Operations Engineer Regiment, and well liked by all who crossed paths with this fine young man," Major General Gilmore said.

"His fellow combat engineers will honour his sacrifice through continuing the tough and dangerous work they undertake in Afghanistan, with courage and distinction."

Chief of Army David Morrison paid tribute to the sacrifice made by the fallen combat engineer.

"The death of Corporal Smith is a tragedy for his family and a great loss for the broader Army family," Lieutenant General Morrison said.

"Today we recognise the sacrifice that Corporal Smith, a fine young man and a great soldier, has made serving his country."

Corporal Smith was part of a small team clearing a suspected insurgent compound last Sunday when they discovered rooms packed with IEDs.

The commander on the ground ordered everyone out but one IED exploded, killing Corporal Smith instantly.

He was the 39th Australian soldier to die in Afghanistan and the seventh this year.


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Madonna booed after backing Obama

MADONNA drew boos and triggered a walkout by several concertgoers after she touted US President Barack Obama on her MDNA Tour in New Orleans.

The Material Girl asked during Saturday night's performance: "Who's registered to vote?

"I don't care who you vote for as long as you vote for Obama."

Drawing boos in touting Obama over Republican Mitt Romney, Madonna followed: "Seriously, I don't care who you vote for ... Do not take this privilege for granted. Go vote."

Madonna is often outspoken. Some Colorado fans, mindful of a mass shooting there, complained she used a fake gun to shoot a masked gunman in a recent concert act in Denver.

A Madonna concert in Paris in July drew ire when a video showed a swastika on a politician's forehead.


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Clashes over China plant construction

AUTHORITIES in eastern China have ordered a security crackdown after thousands of locals clashed with police during a protest against the construction of a chemical plant.

In the latest environmental unrest to erupt in China, police at Ningbo city in Zhejiang province fired tear gas on Saturday night after six days of demonstrations over the project, online reports said.

"In recent days some unreasonable activities such as illegal gatherings and rioting have occurred, seriously impairing the normal work and life of the people and severely impacting overall development and stability," said a statement on the website of Ningbo's Zhenhai district government.

At an emergency meeting late on Saturday, local Communist Party officials insisted that the chemical plant project had not been formally approved and agreed to listen to the protesters' demands, the statement said.

The government also ordered police to "maintain stability in accordance with law", rhetoric that often signals a heavy-handed crackdown.

Photos posted on the www.molihua.org website, which monitors social unrest, showed protesters facing off against thousands of riot police as security forces streamed into Ningbo's Zhenhai district where the 55.9 billion yuan ($A8.65 billion) plant is to be located.

Rioting erupted amid rumours that police had beaten to death a local college student - a rumour police immediately denied.

"Those people circulating fabricated rumours that 'police have beaten to death a college student' have had an odious social impact," Zhenhai police said in a posting on their microblog site.

"Following investigation it was found that a certain woman had spread the rumour, (she) will be dealt with in accordance with law. The police warn citizens not to believe rumours and not to spread them."

Hong Kong media reports said numerous vehicles including police cars were overturned and several policemen injured when protesters attacked a Zhenhai police station with rocks and bricks.

Government officials and police in Zhenhai refused to comment on the unrest when contacted by AFP, nor would they say if protests were continuing on Sunday.

According to one local in Zhenhai, who declined to be named, about 1000 protesters gathered at the gates of the district government on Sunday and then began a peaceful protest march through the district.

The march continued peacefully on Sunday afternoon under heavy police monitoring, he said.

The unrest began on Monday last week when some 200 Zhenhai residents blocked traffic before dispersing, the local government and state media said at the time.

Environmental pollution and perceived health threats are sparking protests across China, fuelled by social media which allows organisers to publicise their causes and rally others despite tight controls in the one-party state.

Early this month police clashed with residents over four days in Yinggehai town in the southern province of Hainan over the construction of a coal-fired power station.

And early this year in the southwestern province of Sichuan, hundreds of protesters clashed with police over a planned metals plant in Shifang city. They forced the project to be scrapped.


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Tsunami triggered by quake hits Hawaii

A TSUNAMI generated by an earthquake in Canada has hit the US state of Hawaii, an official from the Pacific Tsunami Warning Center says.

"The tsunami is arriving right now," Gerard Fryer, a senior geophysicist with the centre, told reporters.

"It is coming in as we speak."

Earlier a spokesman for the centre told DPA there would be a first wave up to two metres, with further waves following.

"What we're expecting, however is far from the disaster in Japan last year," Victor Sardina said.

Television images from the island of Oahu showed relatively small waves peacefully rolling toward the shore.

The centre issued the warning for all Hawaiian islands on Saturday night (Sunday AEDT), hours after a 7.7-magnitude earthquake rocked an island off Canada's west coast.

Hawaii governor Neil Abercrombie proclaimed an emergency, mobilising extra safety measures.

Officials originally said there was no threat to Hawaii but changed that after taking new sea level readings.

Warning sirens blared while residents drove away from coasts and tourists were evacuated from lower floors of beachside hotels.

Incoming bus routes were shut off into Waikiki and police shut down a Halloween block party in Honolulu.

US broadcaster CNN said city Mayor Peter Carlisle called on residents to leave their cars, find a building and make their way to the highest floors.

The situation was "very, very dangerous, he said.

Around 80,000 people live in the evacuation zone in Oahu, where Honolulu is located, CNN said.


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