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Ten Early News -

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(generated from captions) This program is captioned live.

Good morning. Welcome to Ten News.

Today - south-east Queensland

lashed by savage storms dumping

golf ball sized hail and cutting power to thousands of homes. Police consider laying criminal

charges against Year 12 students

over a destructive rampage through Melbourne's Melbourne's streets.

In sport - not good enough.

Australia coming to terms with the

demoralising defeat in India. Then

Consumer Price Index with in finance, all eyes on today's

predictions of another jump anyone

today: flaigs. A quick look at the weather

Well, Brisbane residents bracing

for more of the savage weather. A storm ripped through south-east

Queensland overnight, strong winds and Queensland overnight, strong winds

and hail the size of Gough balls

belted the region, cutting power to more than 10,000 homes.

As the dark skies rolled in, so did

the gale force winds, gusts of up

to 100km/h. Minutes later, massive

hail stones pelted the south-east.

The severe storms cell began

building up in the west and gained

strepg as it rolled through the strepg as it rolled through the

Darling Downs. By the time it hit Ipswich, the cell was at its Ipswich, the cell was at its

damaging best. The sky darkened

over the city as the storm closed

in, and despite losing much of its

intensity, the light show was most

impressive. A bit too close to this

home where it's believed a

lightning strike sparked a fire. Lucky

Lucky nobody was hurt. More than

10,000 homes were left without

power as the storm rolled out to

sea, but the torrential rain

continued. Residents in the continued. Residents in the

south-east have begun the clean-up,

but the bureau says the south-east

can expect more storms later today.

Criminal charges could be laid

against Year 12 students from an against Year 12 students from

exclusive Melbourne school after a

violent rampage. Xavier

Students are accused of jumping on

cars and frightening residents. The

owner of this car faces a $5,000

damage bill. When these people are

located, the charges we'll be looking at would obviously be

criminal damage which is damage to

the car. The entire Year 12 the car. The entire Year 12 class

has already been suspended

unruley behaviour. has already been suspended over

The Government is considering a

plan to charge an insurance premium

for the guarantee on bank deposits

over $1 million. The Reserve Bank

is being consulted over the

proposal, but the Opposition says

it will lead to even more problems. Glenn Stevens believes are largely on the right track. the world's financial policy makers of a global catastrophe in fact, The likelihood has declined in the past few weeks. longer the instability will last. But nobody really knows how much

It's still a rocky road ahead, than it did a couple of weeks ago. it's a little brighter I don't know. for interest rates, The same could be said their variable home loan rates. with St George and Westpac lowering on the deposit guarantee Our decision is certainly a factor you are seeing announced here. in the interest rates to fall faster than expected, The Reserve Bank expects inflation at around 5%. after peaking Forces do seem now to be building dampening pressure on prices. that will start to put Mr Stevens also says the Rudd Government's policy the RBA supports calling it sensible. of guaranteeing all bank deposits, not covered But a number of mortgage funds to avert a run on their books have been forced to take steps from nervous investors. The Federal Opposition wants to know what advice the RBA gave the Government

the savings safety net. before it announced Did the Prime Minister speak the Reserve Bank Governor directly to concerning the deposit guarantee? this is reality. None of this is hype, We are dealing with reality here. Murray McCloskey Ten News.

A gunman remains on the loose in

Sydney after shooting a man five

times. The 26-year-old victim was

shot in the head, stomach and hand

after climbing out of his car at Warwick Farm just before 2am. He's

in a serious condition in hospital.

Police are looking for a silver Police are looking for a silver

coloured Honda civic.

Hundreds of people are expected to

attend a memorial service in

Melbourne today for backpacker

Britt Lapthorne. Her body was returned home from Croatia on

Sunday, accompanied by her father

and brother. It's now being and brother. It's now being

examined by the Victorian coroner

after an autopsy in Dubrovnik

failed to confirm the cause of

death. Australian Federal Police

are carrying out a review of the investigation. are carrying out a review of the

Barack Obama will take a break from

the presidential campaign trail to

visit his gravely ill grandmother.

85-year-old Madeline Dunham raised Obama and featured in his campaign

ads, but her health has taken a

turn for the worse. John McCain

will use the opportunity to gain

economic credibility. Just 14 days

out from the election, the

Republican says nothing is inevitable. inevitable. Australia licking its wounds this

morning after suffering one of its

worst ever Test defeats. India is

leading 1-0 in the series,

following a 321 run victory.

In the end, it was a quick kill.

COMMENTATOR: That is that. India

win the second Test match in Mohali.

But a crushing blow to Australia's

series hopes. We weren't good

enough in any aspect of the game,

whether it be the fast bowling, probably our spin bowling and the batting and probably at certain batting and probably at certain

times, our fielding was sloppy. It

started immediately. What a beauty.

Paten cleaned up by Khan in the

first over. Cameron White went in

the third. COMMENTATOR: Catch, catch, COMMENTATOR: Catch, catch, catch,

he does. And it got worse next ball. he does. And it got worse next ball.

Look at that, he's inside the line

and the off-stump is gone for a

walk. Unplayable. Michael Clarke

got a half century. And Mitchell

Johnson got the better of Harbajan,

series is fast getting away from the but it was India's day and the

Australians. They're 1-0 up and we

have work to do going into the next

Test match.

Still on the series, Indian bowler

Zahir Khan has been fined 80% of

his match fee for tormenting

Matthew Hayden. His angry send off

caught the eye of the match referee.

He went out of his way to verbally

accuse the batsman on his walk back to the pavilion. Daniel Anderson is the early

favourite to take over as

Parramatta coach next season after

the sudden resignation of Michael

Hagen. He says dealing with the new

generation of players is the next

challenge for the game's

administrators. I think there's an

element to the game where young

players are coming in earlier than expected. They're probably

receiving a lot more income and adulation a lot quicker adulation a lot quicker than

players may have done in years

before. The club hopes to sign a

new coach by Christmas.

Let's talk finance with kath rip.

Crucial inflation figures.

That's right, the Consumer That's right, the Consumer Price

Index is out today and it is expected to show inflation has

risen 1.1% in the September quarter.

That would take the annual rate to

just under 5%, well above the

Reserve Bank's target range of 2%

to 3%. But analysts say that it

shouldn't hurt the chance of

further official rate cuts. The Reserve Bank board believes inflation will start to ease,

falling sharply next year.

Our market is tipped o open weaker today after Wall Street stumbled

overnight on disappointing earnings.

The down Jones plummeted 1.5% at

the open, just a day after a rally the open, just a day after a rally

pushed its stocks nearly 5% higher.

The ASIX was up higher, up nearly 4%. Westpac and St George made

gains after announcing they were

cutting their interest rates by 0.2

and 0.21% respectively.

Now to the market numbers in detail,

and Wall Street is retreating on

news of weak corporate earnings.

The outgoing boss of national

Australia bank says the company is

well placed to weather the

financial crisis as it unveiled a

1% drop in annual net profit to

$4.5 billion. NAB has the strength

and the resilience to continue to

prosper in what could be very

difficult conditions that we're

going into. Mr Stewart also says

Australia will not sink into

recession, and bad debts should be

lower. While the Reserve Bank

believes rates could be cut by

another 1%, NAB says they could

drop by as much as 1.5% in the next

18 months.

Now to business in brief, and ASIC has extended its ban on selling for

a month.

The finance minister Lindsay Tanner

said that unemployment could rise

up to 10%.

And Woolworths has lifted its first

quarter sales and expected to meet

its full year sales guidance.

A look at the national outlook for

the rest of the day now:

checking today's newspaper front

pages - the 'Sydney Morning Herald'

says pensioners are not buying

essential medications due to a Government decision that

dramatically increased prices.

The 'Financial Review' reports the

Reserve Bank governor glen Stevens

believes we're through the worse of the financial crisis.

The 'Herald Sun' has more on the Xavier

Xavier College Year 12 rampage.

A Victorian MP questioned over sex assault claims. Details when assault claims. Details when the

Early News returns.

This program is captioned live.

This is Ten News. Today, the

Government expected to unveil

changes to its bank deposit

guarantee, including charging an insurance premium.

Thousands of homes left without

power after severe wind and hail

ripped through south-east Queensland

In sport, family ties and offfield

dramas force Michael Hagen to

resign as Parramatta coach.

And in finance, inflation in the

spot light with today's Consumer

Price Index expected to show

another high reading.

But first, the Federal Government

is set to announce changes to the

garn deep on bank deposits. Treasury is considering

introducing an insurance premium on

deposits over $1 million. This

follows a flood of money to banks

from unprotected financial

institutions. The Opposition says

the plan would cause more problems.

People have already made decisions,

and now, after the even vent, the

Government thinks it is going to

come up with a fee arrangement. Who

is going to pay it? The banks who

are covered by the guarantee or

pass it on to the depositers. When

you make a comprehensive move like

the Government made, it will always

have some implications and have some implications and knock-on

effect and you do have to deal with

those as they come along. those as they come along. The

Reserve Bank has publicly supported the

the Government's unlimited

guarantee of deposit its.

Queensland residents are bracing

for more wild weather as storms

lashed the south-east yesterday.

Winds up to 100km/h swept through the region and homes from pumelled

with hail stones the size of Gough

balls. By the time it reached the

city, it had lost most of its punch,

but the light show was impressive.

10,000 homes without power as the

storm rolled out to sea. Police may lay criminal charges

against Year 12 students from an exclusive Melbourne school after a

violent rampage. The Xavier College

students are accused of jumping on

cars and frightening residents. The

school principal says the behaviour was disgusting.

The romp through Melbourne's streets streets cost thousands of dollars

of damage. I was fearing for my

safety. I had a 1-year-old in my

car and they were big men, 17 or 18,

I knew they were the Year 12s. This

car owner left with a $5,000 repair

bill. The culprits will be charged

when they're found. When the people

are located, the charges we'll be

looking at will be criminal damage which

which is damage to the car. The

school principal told News Limited,

anyone found responsible for the

damage will be expelled and not

allowed to return to school to take

their VCE exams. We appreciate that

they've worked hard for 13 years to get

get where they are. But one foolish

act would really be disappointing

to ruin their futures. The entire

Year 12 had already been suspended

over unrulely behaviour. Security

guards are preventing students from

entering college grounds.

Victorian MP Theo Theophanous has

report edly been interviewed by

police over sexual assault allegations. According to Fairfax

newspapers, he was accompanied by

his lawyer to a police station in

Melbourne. The 60-year-old stood

aside last week amp an

investigation was launched investigation was launched into allegations that he sexually

assaulted a woman in the Parliament ten years ago.

It's feared pensioners are going

without essential medicines due to

the rising cost of prescription

drugs. Research says the use of

prescription medicines has fallen

by up to 11%, since the Government

increased the amount that they

have to pay towards scripts.

Fairfax newspapers say that the

biggest drops are in medicines to

present users and dangerous blood clots.

The Bali bombers are still trying

to delay their execution, with

their families to lodge an appeal

against their deaths by firing

squad. Lawyers for Mukhlas, Amrosi

and Imam Samudra tried to convince

a court that being shot to death

was torture but the court rejected

that saying that all methods of

execution create pain. Indonesia's

Attorney-General is expected to

make an announcement about the executions on Friday. An American television An American television news presenter, severely bashed in her

presenter, severely bashed in her

home may have been the victim of a

stalker. Anchor Ann Presley is

fighting for her life in hospital.

Ann Presley makes her living in

front of the camera, but now the

cameras are focused on her home as investigators look for who

attacked her. It shocked the whole

area, the city and the street we

live on is just - everyone is just

in shock. The popular Little Rock

TV anchor and reporter is now

fighting for her life after being

severely beaten. Because her purse

was missing, police believe me say

or have been attacked during a robbery,

or that she may have been targeted

because of her celebrity. She also has

has a part inal ver Stone's

recently released movie. Her mom

found her in her bed bleeding and

unkongshus after the 26-year-old

didn't answer her daily wake-up

call to get up to anchor the local

news. Now, all are hoping that the

investigator she so often covers

will find the motive and the suspect.

Big news in rugby league, Daniel

Anderson is the early favourite to

coach Parramatta next year after

Michael Hagen's dramatic departure.

He admits that a recent host of

player indiscretions are to blame. for the past 10 years, He's been a coach in the NRL but Hagan's had enough, of a lucrative contract. walking out on a the final year to keep going I just don't have the energy easier for the players, and the game's not getting any

involved with the job Hagan says the long hours or the coaches.

recent spate of player indiscretions, and the club's have worn him down.

in pre-season last year I'd have to say the issues takes a fair bit of energy from you. We've certainly got both at this club and in the game. right now is the Brisbane Broncos. One club dealing with those issues Over the past two days a series of ultimatums - their players were handed or leave the club. clean up your act, do it now, If they don't think that that is fair

they want to be in that environment and they don't think they should consider coming back their contract. and talking to me about terminating Cullen's patience ran out Peter Wallace when 23-year-old half-back a boozy night on the Sunshine Coast. was arrested and charged after from young players, The string of indiscretions in the game. all part of a worrying trend to the game I think there's an element than expected, where players are coming in earlier and adulation a lot quicker probably receiving a lot of income in years before. than players may have done Andrew Blow, Ten News.

North Melbourne defender Michael

Firrito will take on the daunting

task of goal keeping in Australia's international rules match with

Ireland. He will reluctantly form

the last line after being given

the nod ahead of two others. It is

a great honour to represent your

country and something I haven't

done before so it is totally

different and a great challenge.

The two-match series begins on

Friday night in Perth.

Now, Tiger Woods has made an

earlier than expected return to the

Gough course after knee surgery,

although he didn't bring his own

clubs. Instead he showed up to

begin his new role as a caddie.

Don't worry, if you don't recognise

the guy he's caddieing for -

there's a good reason. I'm nervous

too actually, I haven't caddieed in

a while. John Avil had the pleasure

of Tiger Woods being his chauffeur

and coach by win ago competition.

Apparently, Tiger's tips didn't

sink in. Just a little hard!

A key measure of inflation, the

Consumer Price Index is out today

and it's expected to show inflation

remains well above the Reserve

Bank's target range. For more, I'm

joined live from Juliette Saly from

Commsec. Good morning. Would a high

inflation reading hurt the chance

of more rate cuts? We don't think

so. The Reserve Bank is quite

forward looking and would forward looking and would have

already factored in that the annual

inflation rate could reach 5% when

today's figures are reLeeed. We're

seeing consumers spend less and

retailers cutting their prices and retailers cutting their prices and

that will lead to lower inflation

down the track. We're still

forecasting that rates will be cut

by about 0.5% next month and the by about 0.5% next month and the

official cash rate will reach 5%

next month. It's looking like a

weaker start to the market today?

It certainly is. It's not looking positive at the moment. The Futures

pointing to a drop of more than 50

points or 1.2%, but we're starting points or 1.2%, but we're starting

to see Wall Street try to stage a

late rally. At the moment, the Dow

Jones off by 58 points or 0.6%.

Unfortunately, we have lower oil

and base metal prices and that

won't give too much of a boost to

the markets. Thank you for the update.

The Reserve Bank governor says he's

confident the worst of the

financial meltdown is over because

of the recent co-ordinated actions

of governments and Central Banks.

The likelihood of a global catastrophe in fact has declined

in the past few weeks. The Reserve

Bank also released the minutes of

its October board meeting, says its

4% rate cut was justified by

worsening conditions in financial markets.

Finance minister Lindsay Tanner

rejected claims that the

unemployment rate will reach 10%,

but he said it will be higher than predicted. The Government will

deliver the mid-year budget next

month and is expected to lower its

growth forecast due to the financial crisis.

To business in brief, and ASIC has

extended its ban on corporate

selling for another Monday. Westpac

and St George have cut their

interest rates by 0.2% and 0.21%

representively. And NAB has had a

1% drop in net profit to $4.5

billion and says it is well placed

to ride out the economic turmoil.

Here's the forecast for Wednesday:

Britt Lapthorne to be honoured at a

memorial service today. Details

when the early news returns. This program is captioned live.

Today, south-east Queensland lashed Today, south-east Queensland lashed

by savage storms dumping golf ball

sietzed hail and cutting power to

thousands of homes.

Under fire, the Opposition attacks

the Government's proposed changes

to its bank deposit guarantee. Police consider laying criminal

charges against Year 12 students

over a destructive rampage through the Melbourne streets. over a destructive rampage through

And in sport, not good enough.

Australia coming to terms with the

demoralising defeat in India. A quick look at the weather before

we move on:

Brisbane residents are bracing for

more savage weather today. A storm ripped through south-east Queensland

overnight. Strong winds and hail

the size of golf balls pelted the

region. Power to more than 10,000

homes was cut.

As the dark skies rolled in, so did

the gale force winds. Gusts of up

to 100km/h. Minutes later, massive

hail stones belted the south-east. hail stones belted the south-east. The severe storm cell began

building up in the west and gained

strength as it rolled through the

Darling Downs. By the time it hit

Ipswich, the cell was at its

damaging best. The sky darkened

over the city as the storm closed over the city as the storm closed

in and despite losing much of its

intensity, the light show was most

impressive. A bit too close to this

home where it's believed a lightning strike sparked a fire.

Lucky nobody was hurt. More than

10,000 homes were left without

power as the storm rolled out to

sea, but the torrential rain

continued. Residents in the

south-east have begun the clean-up,

but the bureau says the south-east

can expect more storms later today.

The Federal Government is

considering a plan to charge an

insurance premium for the guarantee

on bank deposits above $1 million.

The Reserve Bank has been consulted

over the proposal, but the Opposition

Opposition says it will lead to

even more problems. Glenn Stevens believes the world's financial policy makers are largely on the right track.

The likelihood of a global catastrophe in fact, has declined in the past few weeks. But nobody really knows how much longer the instability will last. It's still a rocky road ahead, it's a little brighter than it did a couple of weeks ago. Where we hit the bottom, I don't know. The same could be said for interest rates, with St George and Westpac lowering their variable home loan rates. Our decision on the deposit guarantee is certainly a factor in the interest rates you are seeing announced here. The Reserve Bank expects inflation to fall faster than expected, after peaking at around 5%. Forces do seem now to be building that will start to put dampening pressure on prices. Mr Stevens also says the RBA supports the Rudd Government's policy of guaranteeing all bank deposits, calling it sensible. But a number of mortgage funds not covered have been forced to take steps to avert a run on their books from nervous investors. The Federal Opposition wants to know what advice the RBA gave the Government before it announced the savings safety net. Did the Prime Minister speak directly to the Reserve Bank Governor concerning the deposit guarantee? None of this is hype, this is reality. We are dealing with reality here. Murray McCloskey Ten News. He's been a coach in the NRL for the past 10 years, Criminal charges could be laid

against Year 12 students from an exclusive

exclusive Melbourne school after a

violent rampage. Xavier College

students are accused of jumping on

cars and frightening residents. The

owner of this car facing a $5,000

damage bill. When these people are

located, the charges we'lling

looking at will be criminal damage,

which is damage to the car.

The entire Year 12 class has

already been suspended over unruley behaviour.

A gunman remains on the loose in

Sydney after shooting a man five

times. The 26-year-old victim times. The 26-year-old victim was

shot in the head, stomach and hand

after climbing out of his car at

Warwick Farm just before 2am. He's Warwick Farm just before 2am. He's in a serious condition in hospital.

Police are looking for a silver

coloured hond aCivic seen leaving

the area shortly after.

Hundreds of people are expected to

attend a memorial service in

Melbourne today for backpacker Britt

Britt Lapthorne. Her body was returned from Croatia on Sunday

accompanied by her father and

brother. It's now being examined

by the Victorian coroner after an

autopsy in Dubrovnik failed to

confirm the cause of death. Australian Federal police are

carrying out a review of the investigation.

The Bali bombers are still trying

to delay their execution with their

families to lodge an appeal against

their deaths by firing squad.

Lawyers for Mukhlas, Amrosi and

Imam Samudra tried to convince an

Indonesian court that being shot to

death was torture, but the court

rejected that appeal saying that

all methods of execution create some pain. Indonesia's

Attorney-General is expected to

make an announcement about the executions on Friday.

Barack Obama will take a break from

the presidential campaign trail to

visit his gravely ill grandmother.

85-year-old Madeleine Dunham

raised Obama and featured in his

campaign ads but her health has

taken a turn for the worse. John

McCain will use the chance to

regain economic credibility, just

14 days out from the election day,

the Republican says nothing is inevitable. Australia

licking its wounds this morning

after suffering one of its worst

ever cricket Test defeats. India is

leading is-0 in the series

following a 320 run victory.

In the end, it was a quick kill.

COMMENTATOR: That is that. India

win the second Test match in Mohali.

But a crushing blow to Australia's

series hopes. We weren't good

enough in any aspect of the game,

whether it was the fast bowling,

probably the spin bowling and the

batting and probably at certain

times, our fielding was sloppy. It

started immediately.

COMMENTATOR: Got him, what a beauty.

Paten cleaned up by Khan in the

first over. Cameron White went in

the third.

COMMENTATOR: Catch, catch, catch, he

he does. And it got worse next ball.

COMMENTATOR: Look at that, inside

the line and the off-stump has gone

for a walk. Unplayable. Michael

Clarke got a half century. The perfect cover drive. And Mitchell

Johnson got the perfect of Harbajan,

but it was India's day and the

series is fast getting away from the

Australians. They're 1-0 up and we

have working to do getting back into the next Test match.

Still on cricket, Indian bowler

Zahir Khan has been fined 80% of

his match fee for tormenting

Matthew Hayden on day four. It was

Khan's angry send off that caught

the eye of the match referee. He

went out of his way to verbally

abuse the batsman on his walk back to the pavilion.

Rugby league news and Daniel

Anderson is the early favourite Anderson is the early favourite to

take over as Parramatta coach after

the sudden resignation of Henry

Hager. The former Or -- of Michael

Hagen. I think there's an element

to the game at the moment where

young players are coming in earlier

than expected. They're probably than expected. They're probably

receive ago lot more income and adulation a lot quicker adulation a lot quicker than

players may have done in years

before. The club hopes to sign before. The club hopes to sign a

new coach by new coach by Christmas.

Finance news with Catherine, and crucial inflation figures in the

spot light today.

That's right. The Consumer Price

Index is out today, and it's expect

ebgted to show inflation has risen

1.1% in the September quarter. That

would take the annual to just under

5%, well above the Reserve Bank's

range. But analysts say a higher inflation reading shouldn't hurt

the chance of further official

interest rate cuts. The Reserve

Bank board says that inflation will

start to ease falling sharply next year.

Our market is tipped to open weaker

today after Wall Street stumbled

overnight on disappointing

corporate earnings. The Dow Jones

plummeted 1.5% . Yesterday, the ASX

finished 160 points stronger, up

nearly 4% for the second session in

a row. Westpac and St George made gains after announcing they were cutting their interest rates by 0.2%

and 0.21% respectively.

Now to the market numbers in detail,

and Wall Street is retreating on

news of weak corporate earnings:

The outgoing boss of National

Australia Bank says the company is

well placed to weather the

financial crisis as it unveiled a

1% drop in annual net profit to 4.5

billion. Nsmasm B both has the

strength -- NAB both has the

strength and the resilience to

continue to prosper in what could

be very difficult conditions that we're going

we're going into.

Mr Stewart also says Australia will

not sink into recession and bad

debts should be lower. While the Reserve Bank believes rates could

be cut by another 1%, NAB says they

could drop by as much as 1.5% in

the next 18 months.

Now to business in brief, and ASIC

has extended its ban on short

selling for another month because

markets are too fragile.

Finance minister Lindsay Tanner has

rejected claims unemployment could

rise up to 10%, but says the rate

will lift slightly.

And Woolworths has lifted its first

quarter sales and expects to meet

its full year sales guidance.

Here's the national forecast for today:

checking this morning's newspaper

headlines, the 'Daily Telegraph'

describes how a petrol price war in

western Sydney bottomed out at 94

cents a litre caused traffic chaos yesterday.

'Business Day' reports the National Australia Bank is still expecting

to increase profits.

And the 'Courier Mail' says despite

Government promises to the contrary,

five ministers remain as company directors and directors and shareholders.

Fears that rising drug costs are

putting pensioners' lives in danger.

Details when the news returns. GOOD MORNING, I'M FIONA NELSON... WITH YOUR LOCAL NEWS ... FIRST UP, THE SINGLE PERSON POLICE STATION, AT DELEGATE COULD HAVE ITS OWN IN-TOWN OFFICER IN MONTHS. BEEN UN-MANNED, WITH POLICE OFFICERS VISITING THE TOWN WHEN REQUIRED. MONARO POLICE SAY, A POSITION HAS BEEN ADVERTISED WITHIN THE FORCE, AND IS HOPING TO HAVE IT FILLED AHEAD OF THE BUSY CHRISTMAS AND NEW YEAR FILLED AHEAD OF THE BUSY CHRISTMAS AND NEW YEAR SEASON. THE BUREAU OF METEROLOGY, IS CUTTING JOBS ACROSS THE

COUNTRY, INCLUDING CANBERRA.

BUT THE UNIONS SAY, THE AXING OF UP TO 50 JOBS, WILL IMPACT ON THE ACCURACY OF FORECASTING INFORMATION, SENT OUT BY THE BUREAU. THE DECISION TO AXE WORKERS, MEANS THERE WILL

NO FORECASTERS AT CANBERRA AIRPORT'S OBSERVATION STATION, WITHIN THREE YEARS.

FARMERS AND BUSINESSES AROUND THE MONARO, ARE BEING WARNED OF GYPSIE'S AND CON ARTISTS, WHO ARE VISITING PROPERTIES, TRYING TO SELL MACHINERY AND GENERATORS.

THE OFFICE OF FAIR TRADING, DEPARTMENT OF IMMIGRATION, AND POLICE, ARE TRACKING THE GYPSIES, WHO'VE TRAVELLED FROM WESTERN AUSTRALIA TO THE EASTERN STATES. THERE ARE THOUGHT TO BE UP TO 50 ILLEGAL WORKERS IN THE AREA. ANYONE WITH INFORMATION IS ASKED TO CONTACT POLICE. INFORMATION IS ASKED TO CONTACT POLICE. TAKING A LOOK AT SPORTS NEWS NOW, AND THE MATILDAS, ARE HEADING BACK TO AUSTRALIA, AHEAD OF THE TO AUSTRALIA, AHEAD OF THE W-LEAGUE OPENER THIS

THIS WEEKEND. THE A-C-T'S SIDE, KICKS OFF THE FIRST ROUND OF THE TEN

WEEK COMPETITION, ON SUNDAY, WHEN THEY TRAVEL TO

NEWCASTLE.

NOW HAVING A LOOK AT TODAY'S WEATHER... A COLD FRONT WILL MOVE OVER THE REGION TODAY, BRINGING COOLER CONDITIONS WITH THE POSSIBILITY OF SOME SOME SHOWERS. LOOKING ACROSS THE NATION - WINDY WITH THE CHANCE OF A WITH THE CHANCE OF A SHOWER IN CANBERRA - MOSTLY SUNNY IN ADELAIDE AND DARWIN - WET ELSEWHERE CLOSER TO HOME - WINDY WITH THE CHANCE OF A SHOWER FOR DUBBO 19 DEGREES THE EXPECTED TOP - WET AND WINDY FOR THE GONG HEADING FOR 15 BOWRAL CAN EXPECT A TOP OF 11 - WET AND WINDY FOR - WET AND WINDY FOR BATEMANS BAY 16 - WINDY WITH SNOW FOR PERISHER 16 THE EXPECTED TOP FOR MUDGEE - COOLER IN COOMA TOP FOR MUDGEE - COOLER IN COOMA WITH 13 - SNOW FOR

WITH 13 - SNOW FOR THREDBO WITH FOUR

FOUR LOOKING AHEAD - THE NEXT FEW DAYS ARE LOOKING GOOD - - TOMORROW WE CAN EXPECT A TOP OF 18

21 FOR FRIDAY

AND FOR THE START OF THE WEEKEND WE'RE HEADING FOR .

This program is captioned live. You're watching Ten News. Headlines

this morning - the Government

expected to unveil changes to its

bank deposit guarantee, including

charging an insurance premium.

Thousands of homes left without

power after severe storms ripped

through south-east Queensland.

In sport, family and offfield

dramas force Michael Hagen to

resign as the Parramatta coach.

And in finance, inflation in the

spot light with today's Consumer

Price Index expected to show

another high reading.

But first, the Federal Government

is set to announce changes to pt

garn deep on bank deposits. The Treasury

Treasury is considering introducing a premium on bank

deposits over $1 million. It

follows a flood of money to banks

from unprotected institutions. The

Opposition says the plan would

cause even more problems. People have already made decisions, and

now, after the event, the

Government thinks it is going to

come up with some fee arrangement.

Who is going to pay it? The banks

who are covered by the guarantee?

Or are they going to pass it on to

the depositers? When you make a

comprehensive move such as the

Government made, it will always

have some implications and knock-on

effects and you do have to deal

with those as they come along. with those as they come along. The

Reserve Bank has publicly supported

the Government's unlimited

guarantee of deposits.

Queensland residents are bracing

for more wild weather after severe

storms lashed the south-east

yesterday. Winds of up to 100km/h

swept through the region, while

homes were pumelled by hail stones

the side of golf balls.

By the time the storm reached the

city, it had lost most of its punch,

but the light show was impressive.

10,000 homes however were left

without power as the storm rolled

out to sea.

A burst water pipe has flooded a

luxury apartment complex in

Melbourne. The rush of water caused

expensive damage on four floors of

the partly constructed building. It

took more than an hour for

firecrews to stop the flow. The firecrews to stop the flow.

damage bill is expected to top $100,000.

A man has undergone emergency surgery in a Sydney hospital after

being shot five times. The

26-year-old victim was shot in the

head, stomach head, stomach and hand after

climbing out of his car at Warwick

Farm just before 2am. He's in a

serious condition. Police are looking for a silver Honda Civic seen

seen leaving the area.

Police may lay criminal charges

against Year 12 students from an

exclusive Melbourne school after a violent rampage. The Xavier College

students are accused of jumping on

cars and frightening residents. The

principal says the behaviour was disgusting.

The romp through Melbourne's

streets caused thousands of

dollars of damage. I was fearing

for my safety. I had a one-year-old

in my car and they were big and men

and 17 and 18. I knew they were the

Year 12s. This car owner left with

a $5,000 repair bill. The culprits

When will be charged when they're found.

When the people are located, the

charges we'll be looking at is

criminal damage, which is damage to

the car. The school principal told News Limited, anyone found

responsible for the damage will be

expelled and not allowed to return

to school to take their VCE exams.

We appreciate that they've worked

hard for the last 13 years to get

to where they are now. But one

foolish act would really be

disappointing to ruin their futures.

The entire Year 12 class The entire Year 12 class had

already been suspended over unruley behaviour. Security guards are

preventing Year 12 students were

entering grounds.

It's feared that pensioners are

going without essential medicines

due to the rising cost of

prescription drugs. New research

reveals their use of essential

medicines has fallen by up to 11%,

and that is since the Federal Government increased the amount

that they have to pay towards scripts.

scripts. Fairfax Newspapers report

that the biggest drops are in

medicines to prevent users and

dangerous blood clots. Victorian MP Theo Theophanous has

reportedly been interviewed by

police over sexual assault allegations. According to Fairfax Newspapers, Mr Thee thee Newspapers, Mr Thee thee was

accompanied by his lawyer -- Mr

Theophanous was accompanied by his

lawyer. The 60-year-old stood aside

last week after an investigation

was launched into allegations that

he sexually assaulted a woman in

the Parliament ten years ago.

Hundreds of people are expected to

attend a memorial service in

Melbourne today for backpacker

Britt Lapthorne. The 2

is-year-old's body was returned

home from Croatia on Sunday

accompanied by her father and

brother. It's now been examed by

the Victorian coroner after an autopsy in Dubrovnik failed autopsy in Dubrovnik failed to

confirm the cause of death.

Australian Federal Police Australian Federal Police are

carrying out a review of the investigation.

A US television news presenter is

fighting for her life in hospital

after being severely bashed. Anne

Pressley was found in her home by

her mother after she failed to show

up for work. The whole State, the

whole city, my street that we live

on, everyone is just in shock.

Pressley's purse was stolen, but

police are also investigating the

possibility she was the victim of a stalker. Still

Still in the US, Barack Obama will

suspend his campaign for the White

House to visit his gravely ill

grandmother. While John McCain will

push on his w his attempt to gain

economic credibility and distance

himself from the Bush

Administration.

John McCain thinks he can get

closer to the White House by

moving away from President Bush. We

can't spend the next four years the

way we've spent much of the last

eight, hoping for our elected

change at home and abroad. The GOP

nominee appears to be making

progress. New polls show 54% of

independent voters now see John

McCain as a candidate offering new direction. But he still trails

Barack Obama when it comes to Barack Obama when it comes to who voters think will best handle the nation's economic problems. Obama is pushing hard in Florida, where the race is a virtual dead heat.

These leaders need and deserve a

partner in the White House. A

President who understoonds that our

prosperity doesn't come from Wall

Street or Washington, it comes from

the hard work of our people. Later

this week, Obama is taking a break.

He's flying to Hawaii to visit his 85-year-old grandmother, the woman

who raised him. Seen here in a

campaign ad, her health has taken

a turn for the worse. His wife,

Michelle, will take his place.

Rugby league first, Daniel Anderson

is the early favourite to coach Parramatta next year after Michael

Hagen's dramatic departure from the

club. Hagen admits that a host of

recent player indiscretions are partly to blame. for the past 10 years, He's been a coach in the NRL

earlier than expected return to the Well, Tiger Woods has made an series begins Friday night in Perth. challenge, I guess. The two-match totally different and a great I haven't done before, so it is country, and I guess it's something recent spate of player indiscretions, and the club's involved with the job Hagan says the long hours or the coaches. and the game's not getting any to keep going I just don't have the energy of a lucrative contract. walking out on a the final year but Hagan's had enough, have worn him down. international rules game against Ireland. He will reluctantly form the last line after being given the nod ahead of two others. It's a great honour to represent your

although golf course after his knee surgery,

although he didn't bring his own although he didn't bring his own

clubs. Instead, the world's best

showed up at the site of his

latest major win to begin his new

role as a caddie. Now, don't worry

if up don't recognise the guy he's

caddieing for. You're not caddieing for. You're not nervous

are you? A little. I'm nervous too

actually. John Abel had the plelsure of plelsure of Tiger Woods being caddie caddie and chauffeur and coach by plelsure of Tiger Woods being his

winning a competition. But

apparently, tiger's tips didn't

sink in. Didn't break!

The The man who dethroned Grant Hackett in Beijing has urged him

to keep on swimming. Osama Maluli

has arrived for this weekend's

World Cup meeting in Sydney and World Cup meeting in Sydney and

would like to take on Grant. would like to take on Grant. Grant

is a great competitor and I think

everybody likes to race the best

and try to be the best. So

hopefully he will stay in the sport

and hopefully he will keep going. Maluli

Maluli was Tuns isia's first ever

Olympic gold medallist in the pool.

A key measure of inflation, A key measure of inflation, the

Consumer Price Index is out today

and it's expected to show inflation

remains well above the Reserve

Bank's target range. For more, I'm

joined live by Juliette Saly fa

Commsec. Would a high inflation

reading hurt the chance of rate

cuts? Weapon don't think so. The

reserve is forward looking which is

why it already moved to cut interest rates and it probably thinks that inflation has peaked. We're likely to

We're likely to see it rise by 1%,

taking the annual rate to 5%, but

with consumers spending less and

retailers cutting prices, we're

likely to see inflation edge lower.

We're still forecasting a 0.5% rate

cut next month and the cut next month and the interest

rates should be about 5% in March next year.

Unlike yesterday, it's looking like

a weaker start to the market today?

It certainly is. The market in the

last few days adding about last few days adding about 8% in

the previous two sessions, so it is

looking like a sell off. The

Futures looking to a drop of 100

points or 2.2%. Wall Street tried

to stage a bit of a rally but to stage a bit of a rally but we're

seeing a sell off in the last two

minutes of trade and the DOW is off

by 2.5%. So it looks like a weak night on Wall Street.

Thank you for the update. Thank you for the update. The Reserve The Reserve Bank governor says he's confident that the worst of the

financial meltdown is over because

of the recent co-ordinated of the recent co-ordinated actions of governments and Central Banks.

The likelihood of a global

catastrophe in fact has declined

in the past few weeks. The Reserve

Bank also released pt minutes of

its October board meeting, says its 4% its October board meeting, says its

4% rate cut was justified by worsening conditions worsening conditions in financial markets.

Finance Mirp Lindsay Tanner rejected

claims that the unemployment rate

will hit 10%, but he concedes that

the number of jobless will be higher than expected. The

Government will deliver the mid-year

mid-year review next month and is

expected to deliver its forecast due to the financial crisis.

Now to business in brief and ASIC

has extended its ban on short selling for another month because

selling for another month because

markets are still too fragile.

Westpac and St George have cut their

their interest rates by 0.2% and

0.21% respectively. And NAB has

unveiled a 1% drop in annual net

profit to $4.5 billion.

Here's the forecast for today:

Recapping this morning's top stories Recapping this morning's top stories

- south-east Queensland lashed by - south-east Queensland lashed by

savage storms dumping golf ball sized hail and cutting power to

thousands of homes.

And the Government is expected to

unveil changes to its bank deposit guarantee, including guarantee, including charging an insurance premium.

That's it for the Early News. Bye

for now. Enjoy your day.

Supertext Captions by Red Bee Media Australia www.redbeemedia.com.au