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Ten Early News -

View in ParlView

(generated from captions) This program is captioned live.

Good morning, I'm Kathryn Robinson.

And I'm Frank Coletta. Welcome to

loose Ten's Early News. Hollywood lets

loose at the post-Academy Awards celebrations. Massive clean-up

operation begins in Rockhampton

after torrential rain. Setting sail

- a royal farewell for luxury liner - a royal farewell for luxury

the 'Queen Elizabeth 2'. Then in

sport - Glen Saville leads the

Sydney Kings to victory over the Wildcats.

Now to our first check of the

markets with Frank Coletta and Wall

Street fairly subdued this Street fairly subdued this morning?

Investors have a few things on

their minds. Wall Street has edged

back up on some deals.

Some details about Allco's

emergency plan when I come back.

Thank you. The Academy Awards have

wrapped up for another year with

Hollywood's A-list partying through

the night. Academy Award winners

and losers kicked up their heels at

the Governor's Ball. Daniel

Day-Lewis still letting his second

Oscar success sink in. I was

utterly turned upside down the

first time round. I really didn't

know what was happening from one

moment to the next. It was as

wonderful as it was in many ways, I

was utterly bewildered and I still

am but a little less so. Cate

Blanchett, George Clooney and best actress winner Tilda Swinton also

attended the ball while Elton John

held his own annual post-Oscars

party. Back home now and a massive

clean-up operation is under way in

the central Queensland town of

Rockhampton. More than 200

millimetres of rain drenched the

city in just over two city in just over two hours. Dozens

of low-lying homes were flooded and

the cars submerged. It came down out of

the sky, there was no stopping it.

We had to do the best we can. It's

research another blow to the city. New

research suggests the cost of

raising children is putting couples

off having a bigger family. A

study has found a couple's capacity

to support kids is the number one

concern when deciding how many

children they'd like to have.

Australia's fertility rate has

stabilised at an historically low

1.81 children per woman. The

Australian Institute of Family

Studies has found most people would

prefer to have up to four kids but

their circumstances force them to

settle for a smaller family.

Hundreds of public school teachers

in Victoria are expected to walk

off the job today as part of their

fight for better pay and conditions.

Unions are demanding a 10% pay rise

but the Government is only offering

3.5%. Up to 1,000 teachers are

expected to rally today outside

Premier John Brumby's electorate

office. PM Kevin Rudd has put the

hard word on the States, knocking

back their pleas for more

no-strings attached health funding.

The Government is demanding States

make genuine improvements for

qualified funding. the health system, When it comes to healing the Prime Minister wants more than a bandaid solution -

and hospital system Our national health is in need of radical surgery. to get to work on a reform agenda. Kevin Rudd appointing a commission for us to actually stop It is very important, very timely our health care system. and have a stocktake of and health care networks stretched, With hospitals in crisis there's an urgent need for a cure. Labor made health and hospitals Prior to the election, with funding attached - a policy priority the need to cut its overall spending the Government now faced with proposed budget surplus target We're dead-set serous about our our razor gangs are at work. of 1.5% of GDP - During the last campaign, of savings, we outlined $10 billion-worth we will find more and during this budget process, it's caused inflation. The Opposition rejecting claims, Mr Rudd and Mr Swan nominate And I'd be interested to see invested over the last three years the things into which money was should not have been funded. that they think Murray McClosky, Ten News.

Meantime, small businesses have

given the Rudd Government a big

thumbs down for its overhaul of

WorkChoices laws. The latest Sensis

Business Index shows approval of

Government policies has plunged 34

points since the election. V8

Supercar chiefs have defended the

sport's safety record after the death of driver Ashley Cooper. The

27-year-old died two days after

crashing his car in the Clipsal 500

in Adelaide. Police and motor sport officials are conducting separate

investigations in to the accident.

If those inquiries come up with any

recommendations for improvement, in

safety anywhere on the track, we

will act upon those recommendations.

V8ute driver Matt Kingsley is

expected to be released from hospital within days. Gunmen have

opened fire at a British aid office

in north-western Pakistan, killing four

four people. 12 assailants stormed

in to the office of Plan

International, a non-government organisation, setting off three

explosions. Emergency crews and

locals tried frantically to rescue

the workers inside. Eight others

were also injured in the Luxury liner the 'Queen Elizabeth were also injured in the attack.

2' is on her way to Hobart after farewelling Sydney for the last

time. Thousands of people lined the shore

shore as the vessel slipped out of

the harbour last night. The 'Queen

Elizabeth 2' will be retired to the

Middle East after completing her

final world voyage. She'll become a floating hotel in Dubai. Football

Federation Australia has handed

down the biggest suspension in the

history of the A-League. Danny

Vukovic has been banned for 15

months for striking referee Mark

Newcastle. Shield in the grand final loss to

Going to be a card issued to Danny

Vukovic. The Mariners goalkeeper

sent off in injury time after

striking referee Mark Shield. It's

stupid. There's no doubt about that.

We can be honest about that. The

Mariners incensed after a handball

in the box was missed. The in the box was missed. The Mariners

are furious. The FFA vented its

anger, Vukovic banned for 15 months,

six months of that suspended. He'll be on probation for a year when he

returns. Danny's disappointed firstly

firstly with the red card and

letting his team and club down.

He's got seven days to lodge an appeal and that could determine

husband Olympic fate. The FFA still

to consider whether that extends to

his duty with the national team as well. You can't accept things like

that as a professional football

player. The Sydney Kings have

defeated the Perth Wildcats in

their first semifinal match. The

NBL's dominant team enhanced their

championship claims with a physical win.

COMMENTATOR: Raised the elbow. That

was dangerous. Glen Saville top

scored for the Kings with 25 points,

three consecutive 3-pointers in the

final term securing the win. West

Coast Eagles young gun Mitch Brown

is the latest player to be struck

down in preseason. His season now

over. He'll need a full knee

reconstruction after rupturing his

cruciate ligament in a practice

match last weekend against the Magpies. Campbell Brown from

Hawthorn has been suspended after

clashing with Carlton's Matthew

Cruiser. He feels the hip and

shoulder and momentum of Campbell

Brown. The Hawks will need to make

the NAB Cup final for Brown to play

in the first round. Finance now

with Frank. Allco unveils an

emergency plan? Do or die. Allco

will lay off staff and sell its non-core assets in a bid to non-core assets in a bid to hold

off its bankers. Emerging from a

2-week trading halt, the embattled

group laid bare its debt. Its

bankers have placed $1.15 billion

in corporate loans on immediate

review. The news shocked investors,

stripping Allco shares of 63% of

their value. Zinifex has boosted its

its bid for allegiance mining to

$852 million in exchange for the

recommendation of the nickel

miner's board. It follows the announcement from Zinifex of a

record $1.3 billion half-year

profit, propelled by the sale of

its smelting arm. The Zinifex boss

has already made it very clear the

company is on the lookout company is on the lookout for

further acquisitions to diversify

the company's holdings. Not so

profitable times over at Bluescope

Steel which has suffered a 70% plunge

plunge in first half-year earnings

to $116 million. The reporting to $116 million. The steel-maker reporting massive write-downs

linked to its troubled businesses

in Vietnam and China. Boss Paul

O'Malley is confident of turning it

around in the second half. A look

at the national weather details now.

Let's take a look at today's

newspapers now. The 'Daily

Telegraph' has more on the baby

bumps on show at this year's Oscars.

Mums to be Cate Blanchett and

Nicole Kidman tpwhroing on the red

carpet. Kerry Stokes is calling for

several members of the WA newspaper several members of the WA newspaper

board to be sacked, questioning

their ability to run a media organisation. And the organisation. And the 'Sydney

Morning Herald' reports on NSW

Premier Morris Iemma's latest

approval rating which has dropped

to a 10-year low. Greenpeace

activists spark a major security scare at Heathrow airport. Details

when the Early News returns. WOMAN 1: Six hours without the boys - that's a plus. WOMAN 2: Dinner sorted - that's a plus. MAN: Oh! Oh! Oh... (Chuckles) BOTH: That's a minus! VOICEOVER: New Uncle Toby's Plus Antioxidant Lift

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Making headlines this morning -

costly kids, research finds the

expense of child rearing puts

couples off big families. Security

scare at Heathrow - activists climb

atop a plane to protest climate

change. Royal farewell for the

'Queen Elizabeth 2', setting sail

from Sydney Harbour on her from Sydney Harbour on her final

journey. In sport, Mariners Danny

Vukovic handed the Vukovic handed the longest

suspension in A-League history.

Gains a little ground over with the

Dow? Just a bit. Wall Street

enjoying a mostly positive day but

the sub-prime mortgage crisis the sub-prime mortgage crisis is

holding investors back. A main

focus will be sales figures focus will be sales figures of

existing homes in the US today.

Coming up - a blow for skpn chi

City. -- Sky City. Thank you. The

cost of raising children is putting

couples off having bigger families.

A study has found a couple's

capacity to support kids is the

number one concern when deciding

how many children they'd like to

have. Australia's fertility rate

has stabilised to an historically

low 1.81 children per woman. The

Australian Institute of Family

Studies has found most people Studies has found most people would

prefer to have up to four kids but

their circumstances force them to

settle for a smaller family. The

Queensland city of Rockhampton is

dealing with another costly

clean-up, the second in just three

weeks. 200 millimetres of rain fell

in just over two hours. The massive

clean-up operation is continuing in Rockhampton.

Just come down out of the sky. Had

to do the best we can. Owners could

only abandon their cars. Early

morning paper run cut short, this

car sent crashing through a fence.

Another blow to a city already

experiencing flooding caused by a

swollen river. I don't think swollen river. I don't think the

storm water drains could keep up

with the deluge we've just had.

Meanwhile, thousands of flood-affected residents in Mackay

are still waiting for their homes

to be assessed by insurers. Around

4,000 homes were damaged when

torrential rain dumped more than

600 mile meters over a week ago. --

millimetres over a week ago. We

experienced it as bad as Cyclone

Larry. Cate Blanchett will be part

of the PM's 2020 summit in April.

The actress has promised to chair

the discussions. Her

responsibilities will include

helping to select participants and

leading the discussion in her

segment. The summit will be held on

April 19 and 20. Meantime,

Treasurer Wayne Swan denies he's

been singled out in parliament as

the Government's weak link. He's

been targeted by the Opposition in

question time but he says people

aren't interested in political

theatrics. People are sick of the

sort of vaudeville act they saw

from Peter Costello over a long

period of time. I think what the

Australian people will pay on is

performance. And that's where the

budget really matters because what

Australians want is a Government

that gets down and gets the

fundamentals right. Support for NSW

Premier Morris Iemma has plunged to

a 10-year low. According to a

Herald-Nielsen poll, one in three

voters approve of Mr Iemma's

performance. The lowest approval

rating for a State leader in a decade. Labor is still two points

ahead in the two-party preferred stakes. It's expected to be a tough

first day of parliament for the

Premier with up to 10,000 unionists

gathering to protest against his

electricity privatisation plans.

Streets will be closed and dozens

of police will be on hand to make

sure it stays peaceful. V8 Supercar

chiefs have defended the sport's

safety record after the death of

driver Ashley Cooper. The father of

two died after slamming in to a

concrete barrier on the Adelaide

street circuit at 200 kilometres an

hour. Two separate investigations

have been launched in to Sunday's

high speed crash. The deadly

accident sparking concerns about safety but event organisers

staunchly defend the Adelaide track.

We build exactly what we're told to

build by the relevant sporting

authorities. Ashley Cooper suffered authorities. Ashley Cooper suffered

severe head injuries in the crash severe head injuries in the crash

and never regained consciousness.

With his family at his bedside

yesterday, he was taken off life

support. Hours later rgs another

serious crash, three V8 ute

drivers taken to hospital. Race veterans

veterans say the track is too demanding for inexperienced drivers.

To run a development series there,

these are the learning drivers for

vrbs 8 supercars, I think it's the

wrong time of circ td. Others blame

Cooper's death on the safety of

Fujitsu cars. They're a lot older

than ours and they don't have the

crash structure our cars have.

There's been a dramatic security

breach at London's Heathrow airport.

Four Greenpeace activists climbed

on top of a British Airways jet

just after it landed. The group

were protesting against the

building of another runway at the

airport. Hollywood's elite have

partied through the night after the

80th Annual Academy Awards in LA.

Oscar winners and losers kicked up their heels at the Governor's their heels at the Governor's Ball,

the official Oscars' after party.

Daniel Day-Lewis still letting his

second Oscar success sinking in. I

was turned upside down the first

time around. I didn't know what was happening from one noplt to the

next. As wonderful as it was in

many ways, I was utterly bewildered

and I still am but a little less so.

Cate Blanchett, George Clooney and Tilda Swinton also attended the

ball, while Elton John held his ball, while Elton John held his own post-Oscars party. Thousands of

Sydneysiders have lined the harbour

foreshore to build a final farewell

to the 'Queen Elizabeth 2'. The

luxly liner is headed to -- luxly liner is headed to -- luxury

lineser headed to Hobart. The

40-year-old ship will be

decommissioned in November and

become a floating hotel in Dubai.

Shane Warne has added his voice to

calls for international players to

be given a yearly break so they can

take part in the Indian Premier

League. Warne says cricket

authorities have no option but to

work with the money-laden

competition. Aussie cricket desperately needs new gun spinners. And the greatest ever is leading the search. But soon Shane Warne will be back in action himself lured by the big dollars of the Indian Premier League. Twenty20 is here to stay. You know there is a lot of talk about one-day cricket, 40-over cricket, should it be it be rather than 50. Should 50 overs just go and we just have Tests and Twenty20? I think that'll all work itself out. Warne says the ICC must make a window in its schedule to accommodate the Indian Twenty20 competition. This is the way it's gonna play, six weeks of the year, sanctioned by the boards. We'll all revolve around that because it's here to stay. As much as we try and fight it and say well why are we doing that - the worse it is going to be for everybody. You've got to embrace it. Warne also says 50-over cricket has a future demonstrated by Australia's entertaining win over India at the SCG. continues. But the fall-out from the game Paceman Ishant Sharma fined 15% of his match fee for giving Andrew Symonds a send-off. Andrew was batting so well with Ricky that you know it's hard to take the adrenaline and the emotion out of the game at this level. Adam McNichol, Ten News.

Football Federation Australia has

suspended Mariners goalkeeper Danny

Vukovic for 15 months after

striking referee Mark Shield in the

grand final loss to Newcastle.

Vukovic was red carded after reacting to Mark Shield's reacting to Mark Shield's failure

to rule on an apparent handball in to rule on an apparent handball in

the 93rd minute. His national coach

far from pleased. Hopefully every

player will learn from it because

you can't accept things like that as

as a professional football player.

The 15-month ban is the longest

handed out in A-League history.

13-year-old Tom Daley looks set to

become Britain's youngest ever

Olympian after qualifying for the

Beijing Olympics. The young diver

qualified for the Olympics after

impressing in the dive event. It's

an amazing achievement for me and

it's my dream come true. Daley is

hoping his Beijing experience will

stand him in good stead for when

the Olympics are held on his home

soil in four years time. Finance

now for Frank. Big falls for Sky

City. Certainly were. Not a great

result. Sky City Entertainment

group has unveiled a 97.1% drop group has unveiled a 97.1% drop in

first-half profit. It's being

blamed for driving down net

earnings to $1.41 million. They're

shelving the sale of Adelaide skpn

casino. It wasn't all bad news with

Darwin casino and its international

businesses among the better

performers. Ramsay Health Care vows

it's on track for double-digit

growth despite a 7% fall in

first-half net profit. Earnings

falling to just under $52 falling to just under $52 million.

Australia's largest private

hospitals operator is upbeat about

growing the business in Britain, as well as considering hospital

acquisitions here in Australia. Australian well State Government up

to an all-time high. New figures show wealth held in property,

shares and other assets has shares and other assets has risen

by 3.3%, while debt actually fell

by 0.4%. The average Australian enjoying wealth of about $418,000.

A quick weather check now.

The PM puts the States on notice over health. That's

over health. That's next. The

CommSec finance report when the

Early News returns.

BOY: How do we create a brighter future? Well, my dad works for an Australian company that's already built the framework - by making fully recyclable steel house frames and steel power poles to save the trees, even providing steel for wind towers, which will save 400,000 tonnes of greenhouse gas emissions every year. My dad and BlueScope are building a brighter future. SONG: # Get rhythm Get rhythm... # One day, I'm gonna help them. # When you get the blues... #

You're watching Ten's Early News. Time

Time to party - Hollywood lets loose at the post-Academy Awards celebrations. A massive clean-up

operation begins in Rockhampton

after a night of torrential rain.

Setting sail - a royal farewell for

luxury liner the 'Queen Elizabeth

2'. Then in sport, Glen Saville

leads the Sydney Kings to victory over the Wildcats.

Time for look at what's happening

on the markets with the lovely

Frank Coletta. You're too kind. No

real surge but Wall Street has

continued to edge up on the back

of news of media deals being done

but the sub-prime crisis is still weighing on investors' minds.

In a moment we'll find out more

about the day from our CommSec

expert. Thank you. The Academy

Awards ceremony may have wrapped up

but celebrations went way in to the

night. Stars kibing up their heels

at the Oscars' after party. Strahan happened to shake happened to shake George Clooney's

hand and she joins us live. Where

was the place to be after the

ceremony? After the writers' strike

threatened to ruin the Oscars,

Vanity Fair cancelled its party.

One of the main parties was the

Governor's Ball. Cate Blanchett

partying alongside George Clooney

as well as Oscar winners Tilda

Swinton and Daniel Day-Lewis Swinton and Daniel Day-Lewis who

won for best actor in his role in

'There Will Be Blood'. The Cohen

Brothers were there as well. One of

the other main parties of the

evening, the Elton John party. The

visitors or the guests there rather

were treated to a very special

performance by Elton John. And that

party also raised money for a cause

very close to his heart, the AIDS very close to his heart, the AIDS

Foundation. Eva Orner was

celebrating well in to the night as

well? Eva Orner, one of the

film-makers behind the best

documentary feature, 'Taxi To The

Dark Side' and she was partying

well in to the evening but she did

have a few words to say about

taking home an Oscar. I'm so

surprised and so impressed. And I

just want to shout out for Alex

Gibney, who had the courage and

tenacity to make this film. We'll

let you get some rest. Thank you.

Back home now and a massive clean-up

clean-up operation is under way in

Rockhampton. More than 200

millimetres of rain drenched the

city in just over two hours. Dozens

of low-lying homes were flooded and

cars submerged. Just and down out

of the sky, there was no stopping

it. We had to do the best we can. It's

It's another blow to the city that

has already experienced flooding

from a swollen river. Hundreds of

public school teachers in Victoria

are expected to walk off the job

today as they fight for better pay

and conditions. Unions are

demanding a 10% pay rise but the

Government is only offering 3.5%.

Up to 1,000 teachers are expected

to rally today outside Premier John

Brumby's electoral office. Cate

Blanchett will be part of the PM's Australia 2020 Summit in April. The actress has promised to chair the Creative Creative Australia discussion at genuine improvements to qualify for funding as the PM appoints a commission to diagnose problems in the the health system. When it comes to healing the health system, Our national health and hospital system is in need of radical surgery. Kevin Rudd appointing a commission to get to work on a reform agenda. It is very important, very timely for us to actually stop and have a stocktake of our health care system. With hospitals in crisis and health care networks stretched, there's an urgent need for a cure. Prior to the election, Labor made health and hospitals a policy priority with funding attached - the Government now faced with the need to cut its overall spending

and reign in inflation. We're dead-set serous about our proposed budget surplus target of 1.5% of GDP - our razor gangs are at work. During the last campaign, we outlined $10 billion-worth of savings, and during this budget process, we will find more The Opposition rejecting claims, it's caused inflation. And I'd be interested to see Mr Rudd and Mr Swan nominate the things into which money was invested over the last three years that they think should not have been funded. Murray McClosky, Ten News.

$23 billion worth of defence

projects approved by the Howard

Government are at risk of failing.

Defence Minister Joel Fitzgibbon

says several project are under

review and some may have to be

dumped. Some of those projects we

might be able to redeem, we hope so,

because too much taxpayers' money

has been invested in them to let

them go by the way side but there

are others that might simply not be recoverable. Among recoverable. Among the projects

being reviewicide the $6.5 billion

contract to buy 24 Super skpn

hornet fighter planes. Support for

the NSW Premier, Morris Iemma, has

plunged to a 10-year low.

According to a Herald-Nielsen poll,

just one in three voters approver

of Mr Iemma's performance. The

lowest approval rating for a State

leader in a decade. Labor is still

two points ahead. Meantime, two points ahead. Meantime, it's

expected to be a tough first day of

Parliament for the Premier with up

to 10,000 unionists gathering to

protest against his electricity

privatisation plans. Streets will

be closed and dozens of police will

be on hand to make sure it stays

peaceful. Indonesia has been hit by

another strong earthquake, the 6.7

magnitude quake has struck off the

island of Sumatra, the second in

just 12 hours. There are no initial

reports of injuries and a tsunami

alert has been issued. A British

Airway plane has been forced to

make an emergency landing in Turkey

after the co-pilot died mid-flight.

The plane from Manchester to Cyprus

had to divert after the crew said there was a medical emergency on

the flight deck. The co-pilot was

pronounced dead once the plane

landed. He died of natural causes.

Thousands of Sydneysiders have

lined the harbour foreshore to bid

a final farewell to the 'Queen

Elizabeth 2'. The luxury liner is

headed to Hobart as it toipbdz on

its final voyage. It -- continue on

its final voyage. The 40-year-old

ship will be decommissioned in

November and become a floating

hotel in Dubai. Football Federation

Australia has handed down the

biggest suspension in the biggest suspension in the history

of the A-League. Danny Vukovic

banned for 15 months for striking

referee Mark Shield in the grand

final loss to Newcastle. Danny Vukovic in mad Monday disguise as Australia's most notorious teenage

bad boy, it seemed appropriate.

Going to be a card issued to Danny

Vukovic. He's been sent off. The

goalkeeper sent off in injury time

after striking referee Mark Shield.

It's stupid. There's no doubt about

that. We can be honest about that.

The Mariners incensed after Shield

missed a blatant handball in the

box. The Mariners are furious and

they've perhaps got a right to be.

Overnight, the FFA vented its anger,

Vukovic banned for 15 months, six Vukovic banned for 15 months, six

months of that suspended. He'll be

on probation for a year when he

returns. Danny's disappointed,

firstly with a red card and letting

his team and club down in the grand

final. He's got seven days to lodge

an appeal and that could determine

his Olympic fate. The FFA still not

to know if it will go extended to

the national team as well, the ban.

You can't accept things like that

as a professional football player.

The Kings have beaten the Wildcats in

in their first semifinal match.

They enhanced their championship

claims with a physical win.

COMMENTATOR: Raised the elbow there.

That was dangerous. Glen Saville

top scored for the Kings with 25 points. Three consecutive

3-pointers in the final term

securing the win. West Coast Eagles

young gun Mitch Brown is the latest

player to be struck down in

preseason. His year now over. He'll

need a full knee reconstruction

after rupturing his cruciate ligament

ligament in a prac match last weekend against the Magpies.

Campbell Brown from Hawthorn has

been suspended after clashing with

Carlton's Matthew Cruiser. Feels

the hip and shoulder and momentum

of Campbell Brown. The Hawks will

need to make the NAB Cup final for

Brown to play in the first round.

New figures show Australians have

never been wealthier and for more

I'm joined by Craig James. What's

behind these record highs and how

long will it last? It's basically rising share prices and house prices.

prices. The end of September last

year the average Australian was

worth $418,000. We know in the time

since the share market has softened,

although housing prices have risen.

We're going to see a flattening of

wealth levels. That will make it

easier for the Reserve Bank to

reign the economy. More pain on the

way at the bowser? The Singapore

unleaded price has risen by $8 a barrel over the past fortnight or

so. But we haven't seen that at the

petrol pump. We're going to see our

petrol prices rising somewhere in

the order of 4-5 cents a litre.

It's been mostly sluggish this morning on the US market morning on the US market but

there's been a major development?

In the last 15 minutes the AAA

credit rating of MBIA has been

confirmed. The Dow Jones has shot

up, gaining 100 points in a matter

of minutes. It's currently up in

the order of 160 points which sets

up a very good start for our share

market today. Could be up as many

as 20 or 30 points. Thank you very

much. Thank you. A look at the

national weather details now:

Now let's take a look at Now let's take a look at what's making headlines. The Adelaide

'Advertiser' is reporting on 'Advertiser' is reporting on the

death of Ashley Cooper whose life

support was turned off yesterday

afternoon. The full extent of

finance group Allco's debts have

been revealed at $900 million. And Brisbane's 'Courier Mail' is

reporting on a radical crashdown on

head wear such as turbans at

Brisbane airport. The cost of kids

putting couples off big families

coming up. A forty two year old South Australian man will serve up to fifteen years jail, for the manslaughter of his then girlfriend's, four year old daughter in Tuggeranong. Darren Lee Cassidy will serve at least ten years for the 2005 crime, where he repeatedly hit the girl with a saucepan and walking stick Several former Canberra Marist College students are suing the school over alleged sexual abuse incidents.... dating back to the nineteen seventies. They've launched civil action in the A-C-T Supreme Court, claiming the school was negligent in ingoring several warnings about the conduct of five Marist Brother teachers. The A-C-T Oppostion's industrial relations spokesman, will be meeting local union reps today. Liberal Bill Stefaniak says he's looking forward to the meeting, despite their differing opinions, to discuss the concerns of local workers and improving local job opportunities The A-C-T Government is expanding its rebate program for water saving garden devices.

Items including greywater hoses and compost bins are now part of the scheme TO SPORT The Brumbies are expected to announce a new centres pairing today. With four frontline centres including skipper Stirling Mortlock already injured, Coach Laurie Fisher is considering reshuffling players or introducing one of the team's rookies NOW TO THE WEATHER A trough from the west is bringing some unsettled conditions to the region, meaning showers and possible storms Around the nation... a shower or two for Sydney

... mostly fine for Melbourne ... a late storm for the national Capital Over the fence ... a late shower and storm for Dubbo ... a few showers and 26 for Bega ... a shower or two for Wollongong as well A late shower or storm in Bathurst ... wet and 26 in Goulburn ... showers and a possible storm for Batemans Bay A late wet weather change for Cooma ... a shower or two for Nowra Looking ahead: Tomorrow should be pretty much a mirror of today... with a shower or two and maybe a late shower... while Thursday will see the mercury dropping and the wet weather continuing, through to Sunday (that's the latest from Southern Cross Ten ... stay with us throughout the day for all your national and local news

You're watching Ten's Early News.

Costly kids - research finds the

expence of child rearing puts

couples off big families. Security

scare at Heathrow - activists climb

atop a plane to protest climate

change. Royal farewell for 'Queen change. Royal farewell for the 'Queen Elizabeth 2', setting sail

from Sydney Harbour on her final

journey. And in sport - Mariners

Danny Vukovic handed the longest

suspension in A-League history. To

the markets with Frank and a lot

announcement has spurred on a rally.

In the past 15 minutes Wall Street

has surged ahead. Investors buoyed

by news that one of by news that one of America's

biggest bond insurers has had its

AAA credit approved and AAA credit approved and Electronic

Arts is making a $2 billion bid for Take Two.

More on the Allco emergency plan. Thank

Thank you, Frank. New research has

found the cost of raising children

is putting couples off having

bigger families. A study has found

a couple offence capacity to

support kids is the number one

concern when deciding how many

children they'd like to have.

Australia's fertility rate has

stabilised to an historically low

1.81 children per woman. A study

has found most people would prefer

to have up to four children but

their circumstances force them to

settle for a smaller family. Three

people will face court in

Queensland today, over a large drug

haul on the Gold Coast. It's

alleged 5,000 ecstasy tablets,

seven grams of ice and 65 vials of

steroids were found at a Carrara

home . Police uncovered knuckle

dusters and $16,000 in cash. A 35-year-old

35-year-old man, a 23-year-old man

and woman have been charged with

drugs possession. The Queensland

city of Rockhampton is dealing with

another costly clean-up, the second

in just three weeks. 200

millimetres of rain fell in just

over two hours. The massive clean-up operation is continuing

in Rockhampton. 200 millimetres in Rockhampton. 200 millimetres of

rain fell in just two hours,

flooding dozens of homes and

businesses. Just come down out of

the sky. There was no stopping it. the sky. There was no stopping it.

We just had to grin and bear it and

do the best we can. Owners

do the best we can. Owners could

only abandon their cars, left submerged

submerged in over a metre oaf water.

An early morning paper run cut

short. Another blow to a city already experiencing flooding

caused by a swollen river. I don't

think the storm water drains could

keep up with the deluge that we

just had. Mean, thousands of

flood-affected residents in Mackay are still waiting for their homes

to be assessed by insurers. Around

4,000 homes were damaged when

torrential rain dumped more than

six00 millimetres over a week ago.

The size of the rebuilding task is

comparable to that which we

experienced in Psycholon lry, in terms

terms of its affect -- Larry, in

terms of its affect on people. The

PM has announced a reform

commission to take the pulse of our health and hospital system. The

Government says there's a need for

radical surgery. To design some of

the changes that are needed so we have a sustainable health system in to the future. The new commission

will develop a long-term health

reform plan. Meantime, Treasurer

Wayne Swan deny said he's been

singled out in parliament as the

Government's weak link. Mr Swan has

been targeted by the Opposition in

Question Time, but he says people

aren't interested in political

theatrics. People are sick of the sort of vaudeville act they saw

from Peter Costello over a long period

period of time. I think what the

Australian people will pay on is

performance. And that's where the budget really matters because what

Australians want is a Government

that gets down and gets the

fundamentals right. V8 Supercar

chiefs have defended the sport's

safety record after the death of

driver Ashley Cooper. The father of

two died after slamming in to a

concrete barrier on the Adelaide street circuit at 200 kilometres an hour. Two separate investigations

have been launched in to Sunday's high high speed crash. The deadly

accident sparking concerns about

safety but event organisers

staunchly defend the Adelaide track.

We build exactly what we are told

to build by the relevant sporting

authorities. Ashley Cooper suffered

severe head injuries in the crash

and never regained consciousness.

With his family at his bedside

yesterday, he was taken off life

support. Hours later, another serious

serious crash. Three V8 ute drivers

drivers taken to hospital. Race

veterans say the track is too

demanding for inexperienced drivers.

To run a development series there,

these are the learning drivers for

V8 Supercars, I think it's the

wrong type of circuit. Others blame

Cooper's death on the safety of Fujitsu cars, not the circuit.

They're a lot older than ours and

don't have the crash structures

that our cars have. There's been a

dramatic security breach at London's Heathrow Airport. Four

Greenpeace activists climbed on top

of a British Airways jet just after

it landed from a domestic flight in

Manchester. They were demonstrating

about the British Government's

cliept change policy and plans to

build another runway at Heathrow.

The protest highlighting several

severe security flaws at Europe's

busiest airport. Well, the Academy

Awards have wrapped up for another

year but Hollywood's A-list partied

well in to the night. Academy Award

winners and losers kicking up their

heels at the Governor's Ball.

Daniel Day-Lewis still letting Daniel Day-Lewis still letting his

second Oscar win sink in. I was

utterly turned upside down the utterly turned upside down the in

the time round. I really didn't

know what was happening from one

moment to the next. As wonderful as

it was in many ways, I was utterly

bewildered. And now I'm still

bewild -- bewildered but just a

little less so. Cate Blanchett,

George Clooney and Tilda Swinton

were at the party. The 'Queen

Elizabeth 2' is on its way to

Hobart after farewelling Sydney for

the last time. Thousands of people

lined the shore as the vessel

slipped out of the harbour last night.

night. The 'Queen Elizabeth 2' will

be retired to the Middle East after

completing her final world voyage.

She'll become a floating hotel in

Dubai. Shane Warne has added his voice to calls for international

players to be given a yearly break

so they can take part in the Indian

Premier League. Warne says cricket

authorities have no option but to

work with the money-laden competition. Aussie cricket desperately needs new gun spinners. And the greatest ever is leading the search. But soon Shane Warne will be back in action himself lured by the big dollars of the Indian Premier League. Twenty20 is here to stay.

You know there is a lot of talk about one-day cricket,

40-over cricket, should it be it be rather than 50. Should 50 overs just go and we just have Tests and Twenty20? I think that'll all work itself out. Warne says the ICC must make a window in its schedule

to accommodate the Indian Twenty20 competition. This is the way it's gonna play, six weeks of the year, sanctioned by the boards. We'll all revolve around that because it's here to stay. As much as we try and fight it and say well why are we doing that - the worse it is going to be for everybody. You've got to embrace it. Warne also says 50-over cricket has a future demonstrated by Australia's entertaining win over India at the SCG. But the fall-out from the game continues. Paceman Ishant Sharma fined 15% of his match fee for giving Andrew Symonds a send-off. Andrew was batting so well with Ricky that you know it's hard to take the adrenaline and the emotion out of the game at this level.

Football Federation Australia has

suspended Danny Vukovic for 15

months after striking referee Mark

Shield in the grand final loss to

Newcastle. Vukovic was red carded

after reacting to Mark Shield, not

ruling on an apparent handball in

the 93rd minute. His national coach

far from pleased. Hopefully every

player will learn from that because

you cannot accept things like that as a professional football as a professional football player.

The 15-month ban is the longest

handed out in arbs-League history.

-- A-League history. Do or die

-- A-League history. Do or die for

Allco? Yes, Allco will slash its

staff and sell its non-core assets

in a build to hold off its bankers.

The embattled group laid bare its

debt, revealing it had understated its current liabilities. Its

bankers have placed $1.15 billion

in corporate loans on immediate

review. The news shocking review. The news shocking investors,

as you can imagine, stripping Allco

shares of 63% of their value.

Zinifex has boosted its bid Zinifex has boosted its bid for

Allegiance Mineing to $852 million,

in exchange for the recommendation

of the nickel miner's board. It

follows the announcement of a

record $1.3 billion half-year profit, profit, propelled by the sale of

its smelting arm. Zinifex officials

have confirmed they're on the

lookout for further acquisitions to

diversify the company's holdings.

ABC's first-half earnings are down

more than 40% on this time last

year. ABC is pointing to the

seizeinality oaf American earnings

for the poor result, high one-off

charges drove down the company's bottomline

bottomline . On to the finance

diary and companies unveiling diary and companies unveiling their first-half profits today:

That's all in the business world for

for now. Busy day. A look at the national weather details now.

That's it for Ten's Early News.

Have a great day. Join us again tomorrow morning.

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