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Ten Early News -

View in ParlView

(generated from captions) This program is captioned live. Good

morning. I'm Bill Woods. I'm

Kathryn Robinson. Welcome.

Making news this morning:

The track and field athletes begin

the Olympic Games in Beijing. The

focus remains on the pool where

Liesel Jones is chasing a second

gold in the breaststroke and Libby

Trickett tries the improbable in

the 100m freestyle final.

Australian drag racer Troy

Critchley pleads guilty in a US

court but avoids jail time over the

death of six spectators in a

high-speed crash.

Batman star Christian Bale avoids

charges over an alleged assault on

his mother and sister, with police admitting there's not enough evidence.

And in finance - the Reserve B And in finance - the Reserve Bank

And in finance - the Reserve Bank

gives its strongest hint yet it

will cut interest rates next month.

Well, track and field events kick

off today in Beijing but it's the

water cube that remains the focus

with Liesel Jones vying for another gold

gold in the breaststroke. Libby

Trickett is also back in the pool

after that stroke of luck putting

her in the 100m freestyle final and

celebrations are continuing for our fabulous four after they delivered

gold. one of the Games' biggest upsets -

Olympic correspondent Ian Cohen has more.

Four Australian women have gone

into the history books - Stephanie

Rice, Bronte Barratt, Kylie Palmer

and Linda Mackenzie after smashing

the women's 200m relay record. They

recorded a time of 7:44:31 and were

overjoyed with winning the gold

medal, Rice's third. I definitely

have a lot of support back home. It

makes it more special when you get

a few messages and emails from

people. We scored two silvers in

the pool - Brenton Rickard in the

breaststroke with an emotional

embrace with his family. It's a

dream come true to stand on an Olympic

medal. Olympic podium and receive a silver

medal. I'm happy to do the race I

planned to do in the final when it

mattered most, when the pressure was

on. That's the most satisfying part

close of it all. Eamon Sullivan went so

close in the 100m freestyle but got

closer to the gold sitting back to

back with Alain Bernard. I didn't

put it better the -- together the

way I should have. Bernard swam

well. Jessicah Schipper had more

sociable company. Everyone

overjoyed she claimed a podium spot.

It's great to have somebody to wave

to that is so close to me joo. we

were there barracking for her.

Enough of the waving dad, what were

you doing in the stands? I ran out

of fingernails! There's more golden

opportunities in the pool this

morning with Libby Trickett and

Liesel Jones leading the charge.

We'll have some more Olympic

results, including Lleyton Hewitt

and Chris Guccione's exit from the doubles,

doubles, plus a medal tally, a

little later in sport. Australian drag racer Troy Australian

Critchley has pleaded guilty in a

US court over the deaths of six

spectators in a high-speed crash,

but he will avoid jail time after

agreeing to aplea deal with

prosecutors. The 27-year-old was

facing charges of vehicular

homicide and aggravated assault

after he ploughed his

high-performance car into a crowd

in Tennessee last June. Today, he

pleaded guilty to 28 less serious

charges and was sentenced to 18

months proberation and a --

probation and a suspended one-year jail term.

A man has jumped from a window as a

fire ripped through his home in

Brisbane last night. Fire crews

arrived to find the house in

Wooloowin ablaze just after 11:00.

They managed to prevent the fire spreading to neighbouring

properties but there was extensive

damage to the home. The

investigation continues.

The Government has vowed to

fast-track its water buyback scheme

to help save the Murray-Darling

river. It will offer to buy out entire irrigation communities as

demands grow for more to be done.

There was no way the Prime Minister

could come to Adelaide and not talk

water and he told South Australians

water and he told South Australians

what they want to hear. Buy back

water entitlements because of this water entitlements because of this

gross overallocation of water

entitlements, particularly in the

other States, particularly in the

other States. 480 million dollars

will be spent buying back licences

from irrigators, mostly in

Queensland and NSW, and a pledge to

purchase properties with big water

holdings and entire irrigation

communities that want to sell up.

Cabinet also agreed to calls for an

independent audit of public and

private water storpblgs. But Kevin

Rudd refused to say whether a drop

of water will get to South

time. Australia's dying lower lakes in

I'm not going to provide false

promises. I'm not going to provide

false guarantees about there being

some simple solution here.

Russia says it is starting to pull

out of the Georgian town of gory

despite contradictory -- Gori

despite contradictory reports that

troops are moving towards the town.

Thousands of civilians are still Thousands of civilians are still

afraid and on the run.

Sitting by the roadside in the

no-man's-land near Gori, a group of frightened refugees. They've been

driven out of their villages by

South owe settian Mischa men

following on the heals of the

Victoriaous Russian army. They came

here from different villages. All felt the same terror. felt

TRANSLATION: They were looting the

houses and then started burning

them. I've been walking since

morning. I don't know where I'll go

now. The Russian Army is now the

only authority in this part of

Georgia. This morning they put

heavy tanks on the road into Gori,

dashing hopes that they might soon

pull out of the town. A Russian

colonel told me his troops are

ready to march on the capital,

Tbilisi, if they get the order to

do so. "If the Americans can take

Baghdad," he said, "we can take

Tbilisi". At one point today, the

Russians allowed a few Georgian

police into Gori to conduct a

symbolic joint patrol but that

down. arrangement appears to have broken

Batman star Christian Bale will not

face charges relating to the

alleged assault of his mother and

sister. London prosecutors say there's not enough evidence and sister. London prosecutors say

have ordered police to abandon

their investigation. Bale was

accused of assaulting his mother accused of assaulting his mother

and sister at the Dorchester Hotel

in London on July 31. He was

questioned for several hours but

released to attend the European released to attend the European

premiere of 'The Dark Knight'.

The Olympics and the Hockeyroos

remain unbeaten after last night's

3-0 win over South Africa.

Unfortunately, the Games have ended

for all our tennis players.

Good morning, Queensland! You,

alone, have won five gold, two

silver and five bronze. Whatever it

is up there, keep doing it!

Collingwood coach Mick Malthouse

has lashed out at the media's

reports on last week's

drink-driving scandal that rocked drink-driving scandal that roc drink-driving scandal that rocked the club A furious Malthouse

described coverage of the story as disgusting. Suspended pair Alan Didak and Heath Shaw were no-shows at training. and the ensuing media circus, But their actions of last week, remain a sore point. It's a mad frenzy. It's like a shark with a bit of blood in its nostrils. Make no mistake about it, I make no apologies, quite frankly. I think it's disgusting Some good news for the Pies though -

Shane O'Bree returns for tonight's clash with Port Adelaide.

No such luck for North Melbourne forward Nathan Thompson - his bid to earn another contract again thwarted by an ankle injury. Which is unfortunate, to get an ankle injury this time of the year. But the Roos regain skipper Adam Simpson for Sunday's crunch match against Carlton. In other selection news, Nathan Brown is out of the Richmond side to play Hawthorn on Sunday. And the career of Essendon forward Courtney Johns appears over, told he's no longer required by the Bombers.

Wendell Sailor returns to Suncorp

Stadium tonight to take on his old

NRL club, Brisbane, for the first

time since breaking his cheekbone against the Broncos during his

comeback game in Round 13. Sailor's

expecting a warm welcome from the

Queensland fans for his first

appearance at his old home ground

since he played rugby for the

Waratahs in 2006.

I think I learned that lesson quite

harshly. You can't go to the dark

side, NSW, and wear a blue jersey. Queenslanders don't like that.

Obviously the Dragons have a good

following up there and hopefully I can

can do the job for them. It's been

an interesting relationship with

Suncorp. Wendell comes into the

side for fullback, Josh Morris.

Kath, the Reserve Bank giving the

strongest signal yet that a rate

cut is on the way. Sounds good,

doesn't it? A senior executive says

the Reserve won't wait for inflation

inflation to fall before starting

to cut rates. Deputy governor Ric

Battellino has told a parliamentary

inquiry in Sydney domestic demand

is slowing and inflationary

pressures will ease. We're able to

think about cutting interest rates.

The RBA has defended the big banks'

refusal to commit to passing on

any potential rate reduction,

despite noting a sharp fall in

funding costs. The ASX has been

ordered to increase the

transparency of how it supervises

the stock market amid concerns it

may not have been fully prepared

for the increase in trading during

the downturn this year. ASIC has

given the ASX a relatively clean

bill of health in its annual review

but this year has listed 10 areas

for improvement. Meantime, the ASX

has reported a 17% rise in net

profit to $366 million.

It's a great time to be working in

the mining sector where the average

wage has broken the $100,000 for the first mark.

the first mark.

The afrblg mining sector pay packet

now stands at $100,23, up 10%.

Outside the resource sector, wages

growth is being contained. Latest

figures show average weekly

earnings rose by 0.7% in the three

months to May, below market expectations.

To other news briefly. Retail giant

David Jones has upgradedit profit

forecast to between $46 million and

$48 million despite a slump in

consumer spending. Leighton

Holdings has unveiled a 35% rise in

annual profit to a record $of 08

million.

QBE insurance has secured a deal to

buy PMI Mortgage Insurance. And

Stockland has delivered a 10%

increase in net operating profits

to $674 million.

Wall Street has given up some gains

towards the close but remains

positive as the oil price lowers

and eases inflationary fears.

Now for the national weather forecast:

Checking this morning's newspaper

front pages:

The 'Sydney Morning Herald' says

the Rudd Government's reform

package to help consumers to witch package to help consumers to w

banks easily has just about flopped.

The 'Financial Review' reports

Leighton Holdings has unveiled a

record profit of more than $600

million, with predictions the

sector will be strong for years to come.

The Australian swim coach slams

doping rumours. We'll have details

when the Early News returns.

Since the beginning, there's been a plan for Canberra. VOICEOVER: A plan to build a world-class national capital. As time's moved on, so much has been achieved

but now it's time to set new goals and imagine a greater future. We need to determine where Canberra goes for the next century

and you're invited to join the conversation.

'The Canberra Plan Towards Our Second Century' details plans for the future. Log on to the website, pick up a plan or call Canberra Connect. Have your say and be a part of the journey. This program is captioned live.

This is the Early News.

Today's top stories:

Tamsyn Lewis heads to the startsing Tamsyn Lewis heads to the startsing

block in Beijing. Day one of track

and field there. The focus remains

on the Watercube. The finals are on again, Liesel Jones chasing a

second gold in the breaststroke. second gold in the breaststroke.

Libby Trickett takes on the 100m freestyle.

freestyle.

Australian drag racer Troy

Critchley escapes jail time in the

US after accepting a plea deal over

the death of six spectators at a charity charity event.

Sonny Bill Williams sits out his

French rugby side's trial match to

avoid going to jail as the club seeks a financial settlement with the Bulldogs.

the Bulldogs.

In finance news, finally the

Reserve Bank says it's now in a

position to consider cutting

interest rates as deathic demand slows and inflation eases.

First - day one of track and field

in Beijing with Tamsyn Lewis lining

up in heats of the 800m. But the

focus remains on the pool this

morning, where Liesel Jones is morning, where Liesel Jones is

aiming for a second gold in the

breaststroke. A stroke of luck has

put Libby Trickett in the 100m

freestyle final. She made it only after her Chinese rival was disqualified.

Celebrations are continuing for

Stephanie Rice, Bronte Barratt,

Kylie Palmer and Linda Mackenzie,

who surprisingly won the 200m relay.

I definitely have a lot of support

back home and it makes it a lot

more special, you know, when you do

get a few messages and emails from

people that I might necessarily not

know but there from the schools I

went to, you know, and part of the

swim team. It makes it really

special knowing that you do have

that support back home as well as

having family support and club support.

After finishing with silver in the

100m freestyle, Eamon Sullivan has

another chance after cruising

through to the semis of the 50m freestyle.

We'll have more Olympic results,

including Lleyton Hewitt and Chris

Guccione's exit from the doubles

and a medal tally a little later in sport.

Meantime, head swimming coach Alan

Thompson has taken aim at some

journalists who've suggested that

drugs are behind Australia's performance in the pool.

I think it's very unfortunate that, I think it's very unfortunate that,

um, that yourself and others may

perhaps draw the conclusion

whenever there's great performances whenever there's great performances

that there's drugs involved. And

too much this year, there's been

people looking for reasons why

performances have been great other

than the real reason, is that the

swimmers are swimming really well.

Australian head switch coach, Alan Thompson.

Australian drag racer Troy

Critchley has escaped jail time in

the US after pleading guilty to

lesser charges. He lost control of lesser charges. He lost control of

his car during an exhibition burn-out in Tennessee last year. He

was facing up to 90 years in jail.

Under a deal with prosecutors, he

was sentenced to 18 months

probation with a one-year suspended

prison term. The 37-year-old told

the court he is deeply sorry. Did

you go over these forms? The loss

of people's lives has caused immense suffering for the families

and the victims, it has caused

heartache and suffering for my

family also. He met with the

families of some of the victims

following today's hearing and apologised.

It's Government is set to

fast-track its water buyback scheme

in a bid to save the ailing

Murray-Darling Basin. It will also

commission an independent audit of

the basin's water storpblgs and

offer to buy out the water rights of entire irrigation communities.

The basin is currently so dry that

the lower fresh water lakes are

turning acidic.

Victoria's racing industry is set

for a dramatic shake-up after a

damning report revealed it is rife

with corruption. A judicial probe

has revealed the betting ring has links to Melbourne's underworld.

What began as an investigation into a

a betting scandal involving a former

top racing executive has uncovered

an industry rampant with crime. We

know that there is some criminal

activity in this industry, as there

is in almost every industry that we know.

Some of the dirty racetrack dealing involved bookmakers holding

accounts in false names, selling

winning tickets to punters, dealing

with underworld figures and even

tampering with their electronic

equipment to accept bets after the race.

Clearly it's really important for

the industry to be clean and to be

perceived to be clean. The report

recommends appointing a racing

integrity commissioner, beefing up

police presence and the testing of

every race winner and beaten

favourite. The racing minister has

defended releasing the document in

the middle of the Olympics. I could

have held off releasing this until

after the Olympics and there would

have been substantial criticism of

me and the Government in holding on

to a report for longer than was necessary. The United States has ruled out The United States has ruled out

using military force in the war

between Russia and Georgia, but

warns relations with Moscow could

be damaged for years to come if it

does not retreat. The warning came

as the second plane load of US

human their yain aid touched down

in Georgia. US Secretary of State,

Condoleezza Rice, will also visit

the country but stopped off in

Paris to meet with the French President, Nicolas Sarkozy, who brokered a fragile truce between the warring countries.

This is a member state of the

United Nations, whose

internationally recognised

boundaries have to be respected.

Russia claims it has begun

withdrawing troops from the town of Gori.

Lleyton Hewitt and Chris Guccione's Lleyton Hewitt and Chris Gucci Lleyton Hewitt and Chris Guccione's

Olympic dream is over. They've been

knocked out of the doubles tennis

by the United States. A mysterious

illness is sending a scare through

the Australian lightweight fours

rowing crew with the men due to

line up in their semifinal today.

Team doctors say one of the four is

battling a virus.

Now to the medal tally and heading

into day seven, Australia is still sixth.

A few things to watch out for today,

the pool providing medal chances

with Liesel Jones, Libby Trickett

and Hayden Stoeckel in finals and

Scott Martin is going for gold and

apparently a strong chance in the shot put.

Runaway Bulldog Sonny Bill Williams

has obeyed a NSW Supreme Court

injunction. He sat out with the

French rugby side Toulon in their

trial match against Toulouse this

morning. Williams walked out on a

5-year deal with the Bulldogs last

month and has since refused to

acknowledge any of his contractual

obligations. Williams has been

threatened with a possible jail

term if he plays.

For the record, Toulon lost the

game 19-12.

Collingwood coach Mick Malthouse

has reignited the drink driving

scandal that rocked the club last

week. A furious Malthouse yesterday

lashed out at media coverage of the

incident which led to the

suspensions of Robert Shaw and Alan Didak. --

-- Heath Shaw and Alan Didak.

It's like a shark with a bit of It's like a shark with a bit o It's like a shark with a bit of

blood in its nostrils. Make no

mistake about it. I make no

apologies, quite frankly. I think it's disgusting.

The Pies regain midfielder Shane

O'Bree for tonight's game against Port Port Adelaide.

Financial now and Kath, Wall Street

managed to close in the black. Yes, managed to close in the black. Yes,

Bill. With the latest from New

York, we're joined live by Alexis

Christoforous. Alexis, there's been

a raft of economic numbers

a raft of economic numbers overnight. Run us through the details. details.

Well, initially, Kath, stock sold

off on word that consumer prices

rose again in July pushed higher by

rising food and gas prices.

Inflation is now running at the

fastest pace in 17 years. But

another drop in oil prices, good

earnings news from Wal-Mart and a

rebound in financial stocks helped

the market snap a two-day leasing

streak and the Dow Industrials

finished 83 points higher. The

NASDAQ rose 25 points. The former

fed reserve chairman has spoken out about house prices and the

President is handling the mortgage

situation? That's right. Alan

Greenspan says there is a bottom in

sight for the spluttering housing

market. He said he believes house

prices will begin to stabilise in

the first half of next year. It

can't come soon enough.

Foreclosure soared 55% in July

Foreclosure soared 55% in July

compared to a year ago and home

resales sank to a 10-year low in

the spring as home prices dropped

about 8%. It's been a

roller-coaster ride for oil. What's

the latest there? Indeed it has

been a wild ride for oil. Crude

rallied about $3 to top $116 a

barrel after a government report

showed a surprise drop in oil and gas supplies last week. But prices

reversed, with crude finishing

more than a dollar lower today to

just under $115 a barrel. OK,

Alexis Christoforous thanks for the

update and enjoy the sunshine in New

New York. Sure.

The Reserve Bank has given the The Reserve Bank has given the

strongest indication yet that it

will slash interest rates next

month. The deputy governor, Ric month. The deputy governor, Ric Battellino, has told a parliamentary inquiry domestic

demand is slowing and the RBA is

now in a position to think about

cutting the official cash rate. He cutting the official cash rate. He

says the Reserve will not wait

until inflation has begun to fall.

The RBA has defended the commercial

banks' refusal to commit to

passing on any potential rate

reductions, despite noting a sharp

drop in funding costs.

Here's the outlook for today:

The star of batman avoids assault

charges. That's coming up.

We'll have more in finance when the

Early News returns.

Googong Dam has the region's biggest storage capacity but without water, capacity's not much use. ACTEW's project to pipe water from the Murrumbidgee River will help us make the most of Googong

and help secure water for life.

This program is captioned live.

This is Ten's Early News. This morning:

Track and field begins in Beijing,

but the focus remains on the pool

where Liesel Jones is chasing a

second gold medal in the

breaststroke. Libby Trickett tries

the improbable in the 100m freestyle final.

Australian drag racer Troy

Critchley pleads guilty in a US

court but avoids jail time over the

death of six spectators in a high-speed crash.

The star of batman, Christian Bale,

avoids charges over an alleged

assault on his mother and sister,

with police admitting there's not enough evidence.

And in finance - the Reserve Bank

gives its strongest hint yet it

will cut interest rates next month.

Quick check of the weather forecast

now. Rain coming from the

south-east it seems. Showers in Melbourne,

Melbourne, Hobart and Adelaide,

maybe as far north as Canberra but

generally sunny and warm in Sydney,

Brisbane and Perth today. Track and field events start in

Beijing but it's the Watercube that

remains the focus, Liesel Jones

vying for another gold in the breaststroke. Libby Trickett is

back in the pool after, literally,

a stroke of luck, put her in the

100m freestyle final, lane 8. And

celebrations are continuing for the

fabulous four after they delivered

one of the Games' biggest upsets, gold medal. Four Australian women

Four Australian women have gone

into the history books - Stephanie

Rice, Bronte Barratt, Kylie Palmer

and Linda Mackenzie - after

absolutely smashing the women's

200m relay record. They recorded a

time of 7:44:31 and were overjoyed

with winning the goad medal, Rice's

third. I definitely have a lot of

support back home. It makes it a

lot more special when you get

messages and emails from people. We

scored two silvers in the pool -

Brenton Rickard in the breaststroke Brenton Rickard in the breaststroke

with an emotional embrace with his

family. It's a dream come true to

stand on an Olympic podium and

receive a silver medal. I'm so

happy to do the race I planned to

do in the final when the pressure

was on and it mattered most. That's was on and it mattered most. That's

the most satisfying part of it all.

Eamon Sullivan went so close in the

100m freestyle but got closer to

the gold on the bus back to the village,

village, sitting back to back with

Alain Bernard. I didn't put it together

together the way I should have and

came off second. Bernard swam well.

Jess Schipper had more sporbl

company with her bronze in the

butterfly, everyone overjoyed she

claimed a podium spot. It's great

to see them in the crowd. We were

there backbacking for her. What

were you doing in the stands, dad? were you doing in the stands, dad?

I've run out of fingernails! More

golden opportunities in the pool

this morning with Libby Trickett

and Liesel Jones leading the charge.

We'll have a little more on the

Olympics, including Lleyton Hewitt

and Chris Guccione's exit from the and Chris Guccione's exit from the

doubles and a medal tally for you a

little later in sport.

Australian drag racer Troy

Critchley has pleaded guilty in a

US court over the deaths of six

spectators in a high-speed crash.

He will avoid jail time after

agreeing to a plea deal with

prosecutors. Joining us on the prosecutors. Joining us on the

line is our US bureau chief, Nicole line is our US bureau chief, Nicole

Strahan, who is at the Tennessee

courthouse. Can you tell us what's courthouse. Can you tell us what's

happened today? Good morning, Bill.

This was really the formal process

for Troy Critchley to plead guilty

to 28 charges of reckless assault

which led to the deaths of six which led to the deaths of six

people in Selma last June during

that exhibition burnout and he

ploughed into a group of

spectators killing six of them. Now, spectators killing six of them. Now,

understandably, this was an

emotional day for many people,

including Troy Critchley. He, in a statement

statement after pleading guilty,

said he asked for forgiveness from

the families of the victims, many

of whom were in court, and that he

would have to carry the tragedy

with him for the rest of his life.

His sentence in this case does not

include jail time. He's been

sentenced to 18 months probation.

Now, the mother of two am of the

victims also had a chance to have victims also had a chance to have

her say, Nicole. Bill, that's right.

A woman who lost two daughters in

the tragedy did also take to the

witness stand and in her statement

said that this situation, the loss

of her two daughters, had ruined

her life. She said she would never

get the opportunity to see them

marry or graduate and that the

responsibility of that rested with

Troy Critchley as well as the

organisers of the event and the

city authorities in Selma,

Tennessee. She said she wanted them

to say sorry. None of them had had

the courage to do so. But after the

hearing was completed, Troy hearing was completed, Troy

Critchley did meet with her behind

closed doors and he did apologise,

closed doors and he did apologise, apparently quite an emotional

meeting, both in tears, and Darla

said afterwards she accepted that apology

apology from Troy Critchley. Thank

you, Nicole Strahan, with that report. Our US bureau chief.

There's outrage over the $55

million pay-out awarded to the

founder of collapsed Pan

Pharmaceeuticals. Jim Selim sued

the Government, claiming the Therapeeutic Drugs Administration

pursued a vendetta against him. In

2003, the TGA ordered a massive

recall of Pan products and recall of Pan products and

suspended its licence because of

drug safety fears. But victims of

the defective drug Travacam have

the defective drug Travacam have

slammed the pay-out. They claim the

money should have gone to them.

A man has died on the Gold Coast

after rolling his car down a

culvert. The sports wagon left the

road shortly after seven o'clock

and turned over a number of times.

No other cars were involved and the

investigation continues.

Russia says it is starting to

withdraw from the yorjian town of

Gori despite contradict air --

Georgian town of Gori despite contradictory reports that its

troops are still moving towards the troops are still moving towards the

town. Thousands of civilians are

still afraid and on the run.

Sitting by the roadside in the

no-man's-land near Gori, a group of frightened refugees. They've been

driven out of their villages by

South Ossetian Mischa men following

on the heals of the Victoriaous

Russian army. They came here from

different villages but all felt the

same terror.

TRANSLATION: They were looting the

houses and then they started burning them. I've been walking

since morning to get here and I don't know where I'll go now. since morning to get here and I

The Russian Army is now the only

authority in this part of Georgia.

This morning, they put heavy tanks

on the road into Gori, dashing

hopes that they might soon pull out

of the town. A Russian colonel told

me that his troops are ready to

march on the capital, Tbilisi, if

they get the order to do so. "If

the Americans can take Baghdad," he

said, "we can take Tbilisi". At one

point today the Russians allowed a point today the Russians allowed a

few Georgian police into Gori to conduct a symbolic joint patrol,

but that arrangement appears to

have broken down.

Batman star Christian Bale will not face charges relating to the

alleged assault of his mother and

sister. London prosecutors says there's not enough evidence and

have ordered police to abandon their investigation. Bale was accused

accused of assaulting his mother

and sister at the Dorchester Hotel

in London on July 21. He was

questioned for several hours but

released to attend the European

premiere of 'The Dark Knight'.

To the Olympic Games again and the

Hockeyroos remain unbeaten after Hockeyroos remain unbeaten after

last night's 3-0 win over South

Africa. Unfortunately, the Games

have ended for our tennis players.

Chris Guccione and Lleyton Hewitt

lost to the Americans. Stubbs and

Stosur lost to the Spanish.

Australia are in sixth place on the

medal count. Host nation China

extended its lead - 22 gold medals.

The United States and Germany round

out the top three. Plenty of medal

hopes for Australia in the pool

today - Liesel Jones in the

breaststroke, Libby Trickett

taking on the freestyle from lane 8,

a remarkable story if she can win

that. Stoeckel tok contests the

backstroke and Australia has a

strong chance in track and field

with Scott Martin in the shot put.

Rugby league and the Canberra

Raiders have been given the cold

shoulder by the NR are L's own

marketing team. They've been left

out of photos advertising the times

strong form. times series, despite their recent

The Raiders are inside the top eight

the competition's form team, and arguably the NRL promotions department but it seems as potential grand finalist still doesn't see them lining up as potential grand finalists.

in the background there, I think. There's a Raiders jumper yeah, there we go. Over the back in row 28 -

we're represented there somewhere. That's alright, Henry's superhuman eyesight, Notwithstanding the Raiders are nowhere to be seen in the league's grand final promotion.

If that's not insult enough, one team that does get a run is Penrith. Canberra beat them by more than 60 points just a few days ago.

We've always been motivated enough just to make the finals series. Whether we're in pictures in the paper or in the media or not, it doesn't really matter. And players are fighting back of compression suits in games. on a rule banning the use In the past 10 weeks worth $20,000. the league has handed out fines wearing that kind of stuff Some players prefer

and I'm especially one. I'm just looking at contesting that. I got fined - Adam Hawse, Ten News.

Finance news and, Kath, the Reserve Finance news and, Kath, the Reserve

Bank - a strong signal that rates

might go down again? Music to a lot

of people's ears, Bill. A senior

RBA official says the Reserve will

not wait for inflation to fall

before it starts cutting rates.

Deputy governor Ric Battellino has

told a parliamentary inquiry

domestic demand is slowing and

inflationary pressures will ease.

Finds itself in a position where it is able to think about cutting

interest rates. The RBA has

increased the pressure on

commercial banks to pass on lower rates to businesses and

mortgageholders and hinted more

cuts could be on the way if the

banks fail to do so.

The ASX has been ordered to

increase its transparency when increase its transparency when

supervising the stock market amid

concerns it may not have been fully

prepared for the increase in

trading during the downturn this

year. ASIC has given the ASX a

relatively clean bill of health in

its annual review but this year has

listed ten areas for improvement.

Meantime, the ASX has reported a

million. 17% rise in net profit to $366

Now, it's a great time to be

working in the mining sector where

the average wage has broken the

$100,000 mark for the first time.

The average mining sector pay

packet stands at $100,823, but

outside the resource sector, wages

growth is being contained. Latest

figures show average weekly

earnings rose 0.7% in the three

market expectations. months to May, and that was below

To the market numbers now and Wall

Street has slugged off a jump in

inflation to close in the black.

overnight. European markets were all higher

Asian markets were mixed in

yesterday's trade, the Nikki off 66

but the Hang Seng was higher.

centres Let's have a race around the major

centres now for the weather forecast: Checking this morning's newspapers:

The 'Age' reports a Victorian judge

says a culture of tolerating

criminality exists within the

Australian horse racing industry.

And the 'Sydney Morning Herald's

business day reports the owner of

Fincorp received as much as $7

liquidation. million before it went into

Australia's head switch coach

fighting back, slamming doping

News returns. rumours. Details when the Early

FORWARD A PROPOSAL, TO FIRST UP, A COMPANY HAS PUT MILLION DOLLAR WINDFARM, BUILD A TWO HUNDRED AND 50 GOULBURN. BETWEEN CROOKWELL AND FARM, WHICH WILL CROSS 14 EPURON, IS PLANNING THE INCLUDE 84 TURBINES. PROPERTIES, AND WILL REGION HAS SOME OF THE THE COMPANY STATES, THE AND A FARM FOR THE REGION FASTEST WINDS IN THE STATE, WOULD BE VIABLE. PIALLIGO AVENUE THE FIRST STAGE OF THE BY CHRISTMAS. DUPLICATION, WILL BE OPEN

UPGRADE, IS BEING FUNDED BY THE 14 MILLION DOLLAR ROAD CONJUNCTION WITH CANBERRA THE STANHOPE GOVERNMENT, IN

AIRPORT... AND WILL HELP EASE TRAFFIC CONGESTION IN THE AREA. THE SECOND STAGE OF THE DUPLICATION, IS DUE TO BE COMPLETED BY 20-10. THE CHIEF MINISTER, IS URGING CANBERRANS TO

NOMINATE AN OUTSTANDING LOCAL, FOR THE TWO THOUSAND AND NINE, AUSTRALIAN OF THE YEAR AWARD. NOMINATIONS CLOSE AT THE END OF THE MONTH, AND JON STANHOPE SAYS IT'S A GREAT OPPORTUNITY, TO ACKNOWLEDGE THE EXCELLENT WORK OF LOCAL RESIDENTS. THE NOMINATIONS ARE ALSO OPEN, FOR YOUNG AUSTRALIAN OF THE YEAR, AND SENIOR AUSTRALIAN OF THE YEAR. AND THE A-I-S SWIMMER LINDA MACKENZIE, WILL COME HOME A GOLD MEDAL OLYMPIAN, AFTER YESTERDAY'S WIN, IN THE FOUR BY - TWO HUNDRED METRE RELAY. THE TEAM, INCLUDING STEPHANIE RICE, BRONTE BARRATT, AND KYLIE PALMER, BROKE THE WORLD RECORD BY ALMOST SIX SECONDS, HITTING THE WALL IN SEVEN MINUTES, 44 - POINT - THREE - ONE SECONDS. NOW HAVING A LOOK AT TODAY'S WEATHER... A HIGH PRESSURE SYSTEM IN THE BIGHT WITH A LOW PRESSURE SYSTEM WILL MAINTAIN A COOL SOUTHWEST FLOW OVER THE REGION INTO THE WEEKEND. LOOKING ACROSS THE NATION - A POSSIBLE SHOWER FOR CANBERRA TODAY - FINE IN SYDNEY, PERTH AND DARWIN - SHOWERS FOR MELBOURNE AND ADELAIDE CLOSER TO HOME - MOSTLY FINE IN DUBBO 13 - A FEW CLOUDS ABOUT IN THE GONG 17 - A SHOWER OR TWO FOR ORANGE SIX DEGREES THE EXPECTED TOP WET IN BATHURST WITH A TOP OF NINE - PARTLY CLOUDY IN BOWRAL 10 DEGREES ON THE WAY THE CHANCE OF A SHOWER FOR MUDGEE 12 - A FEW CLOUDS ABOUT IN NOWRA 17 - SNOW FOR THREDBO LOOKING AHEAD - OVER THE WEEKEND WE CAN EXPECT MOSTLY FINE CONDITIONS... THESE CONDITIONS SHOULD CONTINUE TO EARLY NEXT WEEK - WITH TOPS AROUND THE 12 DEGREE MARK (NO SCRIPT NEEDED HERE)

Today's top stories in the Early News:

Tamsyn Lewis heading to the

starting blocks in Beijing. Day one of trialed.

The focus still on the pool -

Liesel Jones chasing a second gold

medal in the breaststroke and Libby

Trickett taking on the 100m

freestyle final from lane eight.

Troy Critchley escapes jail time in

the US, accepting a plea deal over

the death of six spectators at a the death of six spectators at a charity event.

And Sonny Bill Williams sets out

his French rugby -- sits out his

French rugby side's trial match to

avoid going to jail as the club

seeks a financial settlement with the Bulldogs.

In finance news - finally, the Reserve

Reserve Bank says it's now in a

position to consider cutting

interest rates as domestic demand

slows and inflation eases.

But first up, day one of track and

field today in Beijing. Tamsyn

Lewis lining up in the heats of the

800m, but the focus remains in the

water, Liesel Jones aiming for a

second gold medal in the

breaststroke. A stroke of luck has

put Libby Trickett in the 100m

freestyle final, making it only freestyle final, making it onl after her Chinese rival was

disqualified. That will be some win

if she can do it. Celebrations

continue for Stephanie Rice, Bronte Barratt, Kylie Palmer and Linda

Mackenzie, who surprisingly won the 200m relay.

I definitely have a lot of support

back home and it makes it a lot

more special, you know, when you do

get a few messages and emails from

people that I might necessarily not

know but they're from, you know,

the schools that I went to and part

of the swim team and it makes it

really special knowing that you do

have that support back home as well as having family support and club

support. After finishing with

silver in the 100m freestyle, Eamon

Sullivan has another chance at gold

and the Frenchman Alain Bernard

after cruising through to the after cruising through to the semis of the 50m freestyle.

We'll have a little more on the Olympics, including Lleyton Hewitt

and Chris Guccione out of the

doubles, and the medal tally a

little later in sport.

little later in sport.

Meantime, head switching coach Alan

Thompson has taken aim at some

journalist who is have suggested

that drugs are behind Australia's

performance in the pool.

I think it's very unfortunate that,

um, that yourself and others may

perhaps draw the conclusion

whenever there's great performances

that there's drugs involved and, um,

too much this year, um, there's

been people looking for reasons why performances have been great other

than the real reason is that the

swimmers are swimming really well.

In Australian drag racer Troy

Critchley has pleaded guilty in a

US court over the deaths of six

spectators in a high-speed crash,

but he will avoid jail time after

agreeing to a plea deal with

prosecutors. The 37-year-old was

facing charges of vehicular

homicide and aggravated homicide and aggravated assault after he ploughed his

high-performance car into a crowd

in teensee last June. He's been

sentenced to 18 months probation

and a suspended one-year jail term.

Victoria's racing industry is set for for a dramatic shake-up after a

damning report revealed it's rife

with corruption. A judicial probe

has said the betting ring has links

to Melbourne's underworld.

to Melbourne's underworld.

What began as an investigation into

a betting scandal involving a former

top racing executive has uncovered

an industry rampant with crime. We

know that there is some criminal

activity in this industry, as in

almost every industry that we know

of. Some of the dirty dealing

involved book maimers holding

accounts in false names, selling

winning tickets to punters, dealing

with underworld figures and even

tampering with their electronic

equipment to accept bets after the

race. Clearly it's really important

for the industry to be clean and to

be perceived to be clean.

The report recommends appointing a

racing integrity commissioner,

beefing up police presence and the

testing of every race winner and beaten favourite. The racing

minister has defended releasing

the document in the middle of the

Olympics. I could have held off

releasing this until after the releasing this until after the

Olympics and there would have been

substantial criticism of me and the

government in holding on to a

report for longer than was

necessary.

The Government is set to fast-track

its water buyback scheme in a bit

to save the ailing Murray-Darling

Basin. It will also commission an

independent audit of the basin's

water storage and offer to buy out

the water rights of entire

irrigation communities. The basin

is currently so dry that the lower

fresh water lakes are turning acidic.

Two women have been arrested over

the murders of a British couple who

were on their honeymoon in the

Caribbean. The 32- and 22-year-olds

have appeared in court charged

over the deaths of Ben and Kathryn Mullany.

Mullany.

The United States has ruled out

using force in the war between

Russia and Georgia but warps

relations with Moscow could be --

Moscow could be damaged for years

to come if it does not retreat. The

warning came as the second plane

load of US humanitarian aid touch

downed in Georgia. Condoleezza Rice

will visit the country but stopped

off in Paris to meet with the

French President, Nicolas Sarkozy,

who brokered a fragile truce

between the warring countries. This

is a member state of the United Nations, whose internationally Nations, whose internationally

recognised boundaries have to be respected.

Russia claims it has begun

withdrawing troops from the town of Gori.

Well, it's all over for Lleyton

Hewitt and Chris Guccione at the

Olympic Games. It's come to an end,

knocked out in the doubles by the

American team. A mysterious illness,

meantime, is sending a scare

through the Australian lightweight

fours rowing crew with the men due

to line up in their semifinal today.

Team doctors say one of the four is

battling a virus. Now

Now to the medal tally and heading

into day seven, Australia is sixth,

with five gold, four silver and

seven bronze. The Chinese continue

to dominate with 22 gold medals. A

few things to look out for today -

the pool providing medal chances,

Liesel Jones, Libby Trickett and Liesel Jones, Libby Trickett and

Hayden Stoeckel are in finals and

Scott Martin is going for gold in

the shot put as track and field starts.

The fastest men in the world are

preparing to take to the Olympic

track today in the 100m sprint

heats. Carl Lewis, the legendary

sprinter has paid tribute to swimming sensation Michael Phelps's Phelps's remarkable achievement so

far in the pool. A nine-time

Olympic Champion himself, Lewis

says he's delighted to see another

American overtake his record of

gold. I'm happy that I'm able to

sit here and watch somebody do

these wonderful performances. I

always said that I would love to see

see the next Carl Lewis and I don't know that Michael is because he's

in the water and I can't swim that

well, but I will say that to see

someone have this type of

accomplishment is just tremendous.

Phelps lines up in the 200m

individual medley final today. He's

trying to take his overall tally to

12 gold medals - six at Beijing alone.

Runaway Bulldog Sonny Bill Williams

has obeyed a NSW Supreme Court

injunction. He's not played for French

French rugby side Toulon in its

trial match against Toulouse this

morning. Williams walked out on a

five-year deal with the Dogs last

month. He's since refused to

acknowledge any of his contractual

obligations to his former club. The

NRL and the Dogs yesterday won the injunction which threatened

Williams with a possible jail term

if he defied it by playing. The Toulon president says a financial

agreement will be worked out with

the Dogs early next week. For the

record, Toulon lost the game 19-12.

Well, the Reserve Bank has given

its bluntest indication yet that an

interest rate cut is around the

corner. For more we're joined from

CommSec.

Is a September rate cut a foregone

conclusion now? Well, Kath, the market certainly is pricing in a

rate cut as the RBA is confidence

its policy is slowing down domestic

dimand. Retail sales and building

approvals data will be released on

the day the RBA makes its decision.

It's expected to wait until the

11th hour to see results first.

It's a great time to be working in the mining and construction

industries. Indeed it is. The

mining boom has lifted the average

wage to over $100,000 to the very

first time. It stands at $100,823,

10% than a year ago. It's not good

for the people in hospitality.

Their wages have fallen by 2%.

OK, thank you and have a lovely

weekend. Thank you.

Briefly now in other news:

Centro group has put the rest of

its US portfolio on the market in a

bid to raise cash.

Leighton Holdings has unveiled a

35% rise in annual profit to a

record $608 million. And British

Airways has unveiled plans to Airways has unveiled plans to

American with American Airlines.

We have housing affordability

numbers out today, Bill. That will

be interesting, thanks, Kath.

Here's the outlook in the weather

before we go:

Today as top stories again: Track

Track and field starts at the

Olympic Games but the focus remains

on the gold where Liesel Jones is

chasing a second gold in the

breaststroke and Libby Trickett

tries the improbable in the 100m

freestyle final.

And Australian drag racer Troy

Critchley pleads guilty in a US

court but avoitsdz jail time over

the death of six spectators in a

high-speed crash.

That's it for now. I'm Bill Woods,

hopefully catching up with you on

the weekend editions. I'm Kathryn

Robinson. We leave but highlights from the Sydney fashion festival overnight.

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