AM Summary for Thursday April 6, 2000

AAP General News (Australia)
04-06-2000
AM Summary for Thursday April 6, 2000

SYDNEY, April 6 AAP - The main stories in today's 0800 (AEST) edition of the ABC's AM program:

* All adult men in the NSW town of Wee Waa will be asked to supply police with DNA
samples as part of the investigation into the rape of a 93-year-old woman. Most people
in the town support the testing. Interviews with town residents.

* The US State Department has warned Australia not to legitimise Slobodan Milosevic
by having the new ambassador in Belgrade present himself to the president. The US says
the move will fuel Milosevic's propaganda machine which claims Yugoslavia is returning
to the international community.

* New research shows that the number of Australian resource companies has dropped from
250 to 78. There are warnings that if the trend continues there will be no exploration
companies left. The rush on technology stocks in being blamed for decreasing exploration
capital.

* In Townsville, attention is focused on a 150 tonne boulder that is balanced above
homes. The town is planning to glue the rock to Castle Hill with cables for back-up. Cyclone
Vaughan may hit the area and more heavy rain is certain.

* The Howard government is dismissing fears that its promised tax cuts will be wiped
out by interest rate rises. The Treasurer and the Australian Democrats say there is no
connection between the GST and the rises. Some private sector economists disagree. Interview
with Democrats leader Meg Lees.

* Mortgage rates are already rising after the interest rate rise. The ANZ is the first
bank to make a change and the others are expected to follow. The Reserve Bank has moved
to link the rise to the weak Australian dollar.

* There was chaos on the London stock exchange after a computer problem caused the
exchange to shut down for eight hours. Trading went into the night for the first time
in memory as a result. The problem was made worse because it occurred on the last day
of the tax year.

* ATSIC wants its commissioners to be involved in talks on mandatory sentencing between
the Prime Minister John Howard and Northern Territory Chief Minister Denis Burke. ATSIC
maintains that mandatory sentencing must stop and hopes to change the mind of one of the
governments.

* Yesterday's rate rise will increase the average mortgage by $15 per month. The increase
will lessen the tax savings of the GST and in some cases people will be worse off than
they are now. Interview with a University of Canberra economist.

* Ex-Pakistani prime minister Nawaz Sharif, will soon learn whether he will face execution.

Mr Sharif is accused of trying to stop a plane carrying the army chief from landing and
therefore endangering lives. He is charged with terrorism and treason.

AAP vc/mfh/as

KEYWORD: AM SUMMARY

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