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Thursday, 21 August, 2008

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PM covers a broad spectrum of issues relevant to all sections of Australia's geographically and culturally diverse community. It looks behind political, economic, industrial, business, social, cultural, rural, regional and arts stories. Below is the latest program summary and transcripts are published as soon as they become available. You can listen to today's full program or individual reports in Real Media, Microsoft Windows Media or MP3.

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Updated Thursday, 21 August, 2008

Qantas profit up despite high oil prices

Qantas today announced a $970-million full year profit. The company defended its safety record despite problems the airline has had in recent months with delays, cancellations and one plane which was forced to do an emergency landing.

NAB promises to cut rates if RBA does

Many home and business borrowers should be able to relax a little soon. The National Australia Bank says that if the Reserve Bank cuts rates by quarter of a per cent, it will pass the cut on in full. The Federal Treasurer Wayne Swan has been taking every opportunity over the last week to call on banks to fall in with any Reserve Bank rates cut. So far, none of the other big four banks has matched the NAB.

Fiji facing Pacific Islands Forum suspension

Fiji is facing suspension from the Pacific Islands Forum if it doesn't move towards holding promised elections early next year. The Prime Minister Kevin Rudd is at the Pacific Islands Forum in Niue and he says Fiji's disregard for democracy will no longer be tolerated. Fiji says that Australia and New Zealand are misusing the forum.

Tensions over Murray-Darling extractions worsen

The Queensland government has been forced to defend a record extraction from the Murray-Darling system by irrigators in the state. The issue has fuelled anger in South Australia, where the heritage listed Coorong wetlands are drying up. The Greens have released the details of a planned Senate inquiry which they say will find out quickly how much water is available, and the most effective way to deliver it to the Lower Lakes.

Hendra virus claims a life

The veterinary profession in Queensland is in shock after Hendra virus took the life of a vet. Thirty-three-year-old Doctor Ben Cunneen succumbed to the disease last night, after five weeks in hospital.

Naval expert Pollack on US maritime power

Exactly 100 years ago, the shores of Sydney Harbour were thronged by huge numbers of people eager to see the Great White Fleet - the formidable group of battleships and their escorts which US president Theodore Roosevelt sent round the world in 1908. Today to commemorate the event there's just one US ship in Sydney Harbour, a contrast which might lead people to thoughts of declining US maritime power in our region. The Lowy Institute today played host to one of the foremost authorities on US naval power, Professor Jonathan Pollack of the US Naval War College.

EXTRA: PM Extra - Full interview with Professor Jonathan Pollack and Rory Medcalf Mp3 Windows Real

Indonesian spy fronts court over activist's murder

Last month Indonesia made history when it admitted for the first time that the state sponsored the violence in East Timor in 1999. Today there was another Indonesian first with the appearance in court of a high-ranking intelligence agent charged with serious crimes. Former top spy Muchdi Purwoprandjono is accused of organising and funding the poisoning murder of the prominent human rights activist Munir Said Thalib aboard a Garuda flight to Amsterdam in 2004.

Watchdog backs NSW power sell-off

An influential watchdog has approved a multi-billion dollar plan to sell the state-owned companies which produce and sell power in New South Wales. The state's Auditor-General Peter Achterstraat says the companies are valuable assets which can't be sold at bargain basement prices. But he's found the sale plan is appropriate to maximise the proceeds.

China consolidates lead on Olympic medal tally board

China has been consolidating its s runaway lead on the Olympic medal tally board. With four days of competition to go, the host nation has almost twice as many gold medals as the second placed nation, the United States. Australia's athletes are not done yet. The men's hockey team and the women's basketball side are closing in on their respective finals. Other sports are dealing with bad weather today in Beijing as rain again disrupts the Olympic timetable.

Wards of the state need extended support: welfare agencies

Child welfare agencies are calling on state and territory governments to extend their assistance for wards of the state beyond the age of 18. They say while 18 year-olds are classified as adults they have little to fall back on once they leave the state care system.

Babcock and Brown CEO resigns

Business and finance with Brigid Glanville.