Viralytics shares up 14 per cent

SHARES in Viralytics have jumped by 10 per cent after a significant number of patients responded well to a cancer therapy the company is developing.

The company's shares gained 3.5 cents to 38 cents.

Viralytics said a phase two clinical trial of its treatment Cavatak on late-stage melanoma patients had already achieved its main goal, even though patients were still being recruited for the study.

The trial, across 10 sites in the United States, is investigating the safety and efficacy of Cavatak on 54 evaluable patients.

The aim is to have 10 out of 54 patients go six months after their first dose of Cavatak without the cancer worsening.

Viralytics on Wednesday said 10 patients had already achieved the goal, with only 30 evaluated.

"Given the excellent progress achieved to date and the encouraging feedback from key opinion leaders in the melanoma field, we also believe it is now timely to consider the design of a randomised study in melanoma patients," Viralytics chief executive Dr Malcolm McColl said.

Currently 44 patients are enrolled in the trial. Full enrolment is expected by the end of the year.

Cavatak is a natural, genetically unaltered virus that often causes no symptoms in humans, but can induce mild upper respiratory symptoms similar to that of the common cold viruses.

Its therapeutic action results through its interaction with the ICAM-1 receptor which is present in abundance on the surface of many cancer cells.

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Bushfire edges close to homes in WA

LIVES and homes could soon be impacted by a bushfire raging in Western Australia's Kimberley region.

A watch and act alert has been issued for people in the eastern part of Fitzroy Crossing in the Shire of Derby.

The fire started south of the Great Northern Highway but has crossed the highway and is now moving north towards properties on Emanuel Way and Bell Road.

"There is a possible threat to lives and homes as a fire is approaching the area and conditions are changing," the Department fo Fire and Emergency Services said.

"You need to leave or get ready to actively defend."

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Starbucks says guns unwelcome, not banned

Coffee Company Starbucks says firearms are no longer welcome at its US cafes. Source: AAP

STARBUCKS says guns are no longer welcome in its US cafes, though it is stopping short of an outright ban on firearms.

The fine line the Seattle company is walking in addressing the concerns of both gun rights and gun control advocates reflects how heated the issue has become, particularly in light of recent mass shootings.

CEO Howard Schultz says the decision to ask customers to stop bringing guns into stores came as a result of the growing frequency of "Starbucks Appreciation Days," in which gun rights advocates turned up at Starbucks cafes with firearms.

Schultz says the events mischaracterised the company's stance on the issue and the demonstrations "have made our customers uncomfortable."

Schultz hopes people will honour the request not to bring in guns but says the company will nevertheless serve those who do.

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Shorten claims Labor caucus support

Bill Shorten says he's been nominated by a majority of caucus members for the Labor leadership. Source: AAP

LABOR frontbencher Bill Shorten says he has the signatures of the majority of caucus members on his nomination for the federal parliamentary leadership.

Mr Shorten and fellow frontbencher Anthony Albanese are contesting a ballot for the leadership, following Kevin Rudd's decision to step down after Labor's federal election loss.

For the first time, the parliamentary leadership will be determined by a ballot evenly split between caucus members and 40,000 ordinary party members.

Mr Shorten, who hails from the ALP's Right faction, told reporters in Melbourne it was an "exciting time" for all party members to participate in an important decision and he was heartened by the support shown so far.

"I've got a majority of caucus members to sign my nomination," Mr Shorten said on Tuesday.

He said he had spoken with Mr Albanese, and they had agreed to a "civil debate about ideas, not personalities".

The pair also agreed the loser of the ballot would still get a "senior" role in opposition.

Mr Shorten said outgoing health minister Tanya Plibersek would make a good opposition deputy should she choose to run.

He said he would get around the country to speak to as many members as possible.

"My focus is on directly communicating with the people who contribute so much to the Labor party and that is our membership," the former Australian Workers Union boss said.

Asked whether he and Mr Albanese had any policy differences, Mr Shorten said their values were "quite similar".

But issues surrounding services for people with disabilities must be kept at the centre of the political stage and Labor needed to ensure during the leadership contest there was a focus on keeping the Abbott government accountable.

"I think the coalition is showing some degree of complacency," he said.

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Customer growth lifts TPG profit

TPG has increased customer numbers at a faster rate than last year, substantially boosting the telco's annual profit.

TPG made a net profit of $149.2 million in the year to July 31, up 64 per cent on $90.96 million in the previous year.

The prior year's result was skewed by a $23 million one-off tax expense.

When that item is excluded, TPG's net profit rose by 31 per cent in 2012/13.

TPG's broadband subscriber base grew by 76,000 in 2012/13, compared to growth of 47,000 in fiscal 2012.

The number of subscribers to TPG's home phone and broadband bundle plans rose by 130,000, which was partly offset by a fall of 54,000 in standalone customers and customers not using TPG's own fibre network.

TPG's mobile phone subscribers increased by 105,000, compared to a rise of 54,000 in fiscal 2012.

The company expects earnings before interest, tax, depreciation and amortisation (EBITDA) in 2013/14 to be between $290 million to $300 million, compared to $293.1 million in 2012/13.

Earnings from TPG's corporate division, which provides wholesale and corporate telecommunications infrastructure under the PIPE Networks brand, grew by more than 10 per cent in 2012/13.

The earnings growth was largely due to improved margins from investment in the group's fibre network.

TPG is planning to increase the number of buildings directly connected to its fibre network in Sydney, Melbourne, Brisbane, Adelaide and Perth.

"With the evolution of new technologies now enabling speeds of up to 100Mbps this will enable the group to commence offering very high speed broadband services to its customers at ADSL2+ prices," TPG said.

TPG increased its domestic fibre network by more than 800 kilometres in 2012/13, to more than 3,800 kilometres.

More than 300 extra buildings were directly connected to the network, taking the total number connected to more than 1,600.

TPG shares were up 48 cents at $4.18 at 1532 AEST.

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Strong winds bring down Bondi balcony

A balcony collapse has forced the evacuation of 11 people at a unit block in Bondi. Source: AAP

A BALCONY collapse has forced the evacuation of 11 people in Bondi as strong winds battered Sydney and the Illawarra.

Police officers, State Emergency Service (SES) volunteers and firefighters arrived at the Wairoa Avenue shopping complex on Monday night to find a balcony, awning and part of a wall collapsed.

Eleven people from all five residential units at the complex had been evacuated amid fears of further collapse, Paul Johnson from NSW Fire and Rescue told AAP.

He said rough weather was thought to be responsible.

"There were pretty strong winds," he said.

No one was hurt but occupants from only three of the five evacuated units have been allowed to return.

In another incident, a semi-trailer crashed into the front yard of a Blue Mountains home, stopping just metres from the house with a man, woman and child inside.

Noone was injured in the accident, which occurred in beating rain.

They were among about 200 weather-related incidents attended by the SES between Monday afternoon and Tuesday morning.

SES spokeswoman Sue Pritchard said the strong winds and heavy rain had hit suburbs from the Illawarra to eastern Sydney up toward northern beaches properties in Narrabeen and Collaroy.

The winds were moving down the NSW coast on Tuesday morning, she said.

"Down south, we're now getting some calls coming through about leaky roofs and trees down," she said.

She said it was a timely reminder for people to get their roofs checked and clear out their gutters.

"Storm season is less than two weeks away, and we're already seeing some of the damage," she said.

Meanwhile the Bureau of Meteorology has issued a severe weather warning for the NSW south coast, which is expected to be hit by gale force winds, heavy rain, damaging surf and possible flash flooding.

In the 12 hours to 4am (AEST) on Tuesday, 199 mm of rainfall was reported from Robertson.

"An easing is expected late in the day as the low moves further south and begins to weaken," the Bureau said.

A severe weather warning for the Illawarra region has been cancelled.

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Housing prices on the rise: RP Data

Housing prices continued to rise in the week following the federal election, new figures show. Source: AAP

HOUSING prices continued their rise in the week after the federal election, new figures show.

The RP Data-Rismark Daily Home Value Index for the five mainland state capitals rose by 0.5 per cent in the week ending Sunday, September 15.

The rise brought the annual rise in housing prices, which bottomed out in mid-2012, to 5.7 per cent.

Aside from Perth, with a fall of 0.2 per cent, the other four capitals in the index posted rises last week.

Sydney was at the front of the pack, with a gain of 0.8 per cent for the week and 8.0 per cent for the year.

Adelaide had the weakest annual increase of just 0.1 per cent, while Perth had the biggest annual rise, 8.8 per cent.

The weekly auction clearance rate for the combined capitals was 74.6 per cent, down only marginally from the week before which was the strongest result since late 2010.

The market has been underpinned by a rise in demand relative to supply, with the number of homes on the market down by 14.1 per cent from a year before, led by a 28.6 per cent fall in Sydney.

Sydney also led the pack in terms of time homes spend on the market, with a listing-to-sale interval of only 29 days for houses and 27 days for units.

In Perth, the number of homes listed for sale rose by 7.0 per cent, and their time on the market was 56 days for houses and 63 days for units.

However, the market was even slower in Hobart, where the number of listings fell by 4.2 per cent in the past year, but the time on the market remained very long - 68 days for houses and 111 days for units.

Hobart also recorded the biggest vendor discount from the original price - 9.8 per cent compared with Sydney's 3.6 per cent.

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Qld woman regrets murder case actions

A BRISBANE woman accused of helping to cover up the murder of Logan man Michael Peter Klaassen says she regrets her actions.

Jasmin Kay, 32, was granted bail on Monday following a brief appearance at the Beenleigh Magistrates Court on charges of being an accessory after the fact to murder.

A police prosecutor, who opposed bail, told the court Kay played a "multi-faceted role" in covering up the murder, including the destruction of evidence.

Mr Klaassen was last seen alive on July 29. A body, believed to be his, was found in a shallow grave behind a house at Logan Reserve on Friday.

Kay said she had been led astray by people she believed were her friends.

"I have been seriously wronged by friends," Kay told reporters outside court.

"I did some stuff that I shouldn't have but I regret that. I should've rung police because now I know they're no friends at all."

Earlier, the Upper Mt Gravatt woman's husband said her arrest on Saturday had left him speechless.

"Big shock to me, I knew none of this at all," Paul Kay told reporters outside court.

"Personally I don't think she knew him (Klaassen), just through friends and family."

Kay is one of five people who have been charged in relation to Mr Klaassen's death.

Lawrence Carlton, 24, has been charged with murder and interfering with a corpse while David Darlington, 36, and Matthew-John Kirk, 28, have been charged with being accessories to murder and interfering with a corpse.

Another woman, Marri-Ann Godfrey, 45, has also been charged with being an accessory to murder after the fact and will make a bail application in court on Tuesday.

Kay will return to court on October 14, the same date Carlton is due to appear via video-link.

Darlington and Kirk are scheduled to appear on Thursday.

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Lynas loss widens, new debt deal struck

Australian rare earths miner Lynas has widened its full year loss to $107.4 million. Source: AAP

A DEPRESSED rare earths market has forced Lynas to postpone its expansion and renegotiate a $225 million debt facility.

The Australian rare earths miner, one of the world's few non-Chinese producers, will have to start repaying debt next year instead of in 2015.

Repaying the $US225 million in full a year early by 2016 was the condition its Japanese lenders put on the new agreement to waive for 15 months Lynas' previous obligations to ramp up to 'phase two' production and cash margins expansion targets.

On Monday, Lynas reported that it had widened its full year loss to $107.4 million for the 12 months to June 30, from $102.6 million the previous year.

The miner only started selling rare earths products shortly before the end of June, receiving a modest $900,000 first pay cheque.

The debt negotiations were well-received by investors, who still appear bullish about the outlook for rare earths and sent Lynas shares up 3.25 cents, or 8.0 per cent, to 43.75 cents by 1500 AEST.

Lynas had hoped to start producing at its Malaysian plant in 2011 when rare earths prices were booming but fierce opposition from local villagers was fought in the courts, delaying permits.

By the time it won that battle this year, Chinese domestic prices for rare earths products, which have a range of hi-tech industrial uses, had sunk to under $20 a tonne making it hard to be profitable.

The company said last year had been one of significant milestones for Lynas, positioning it to achieve its core objective of becoming the leading sustainable global supplier of rare earth materials to the market.

A successful Lynas would be a game changer for a Chinese-dominated industry, with its fully integrated operations from its Western Australia-based Mt Weld mine - considered the world's best - through to its Malaysian finishing plant.

Patersons analyst Rob Brierley said the move to get out of its phase two expansion for 15 months was a good one that would otherwise have left it under huge financial stress and at risk of defaulting.

He said an end to the depressed market was not yet in sight but Lynas was well placed long term, with a strong resource base and state of the art, low cost concentration and processing plants.

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London mayor Johnson backs UK fracking

WIND farms are a "disease" which have blighted Britain's countryside and the country should embrace nuclear power and fracking to meet its energy needs, London Mayor Boris Johnson says.

Johnson accused the energy companies of "ruthlessly exploiting" a shortage of supply as he insisted the UK must stop "pussy-footing around" and start exploiting shale gas reserves.

The senior Tory said turning to a new generation of nuclear plants and fracking would cut energy bills and boost the economy.

Writing in The Sun on Sunday he said he was shocked by the number of wind turbines he saw on a recent drive to Scotland.

"It is a good 20 years since I last drove all the way to Scotland, and in the interim something unbelievable has been done - in our name - to our green, pleasant and precious countryside," he said.

"I mean the windmills, the turbines - whatever they are called. I mean the things that look like some hideous Venusian invasion, marching over the moors and destroying the dales; the colossal seaside toys plonked erratically across our ancient landscape; the endless parade of waving white-armed old lunatics, gesticulating feebly at each other across the fields and the glens.

"They seemed to be everywhere, and I asked myself, when were we consulted? Was there a referendum? Did someone ever warn the British people that these moaning seagull slicers were going to be erected on some of the most sensational scenery that God ever called into being?

"The answer is that no one warned us, because no one really took the decision to do it. It just sort of happened. We have contracted these mills like a disease, because of our pathetic apology for an energy policy."

Claiming that the turbines would not meet the UK's needs he blamed the last Labour administration for failing to get to grips with the issue, leaving the UK facing an energy crisis.

"It is time to take the fight to the energy companies, who have been ruthlessly exploiting their position - and the best answer is an enormous increase in supply. We can do it, and we can do it in a way that is as clean and green as any technology on earth," he said.

"First we need to grow some collective cojones and launch the nuclear energy programme that this country has too long delayed. Do you know how much of their juice the French get from their nuclear programme? Almost 80%. They are laughing at us - us, the nation that split the atom!"

He added: "Next, we must stop pussy-footing around, and get fracking. Even if we have 100s of fracking pads, they are nothing like as ugly as windmills, and they can be dismantled as soon as the gas is extracted."

Mr Johnson said shale was "clean and green" and would help the UK secure its own energy supply without relying on gas from countries such as Russia.

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