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(generated from captions) This program is captioned live. Good morning. I'm Frank Coletta. Welcome to Ten's Early News. And I'm Jacinta Hocking. Today. Closing in, its election winning lead Labor retains ground in the latest Newspoll. but the Coalition is clawing back The race that stops the nation, on the Melbourne Cup. bookmakers expecting a record splurge in Pakistan Police clash with protestors on the President as international pressure mounts to end the State of Emergency. And in sport, in a 'bowl-off' Stuart MacGill and Brad Hogg for the vacant test spinner spot. weather and for the rest of the day. Now for a look at the national To finance, and Jacinta has a first check of the markets.

lower this morning Good morning, US stocks are trading about the impact of credit turmoil, with Wall Street investors concerned When I come back, today to discuss interest rates, te Reserve Bank's meeting in Sydney I'll have the details shortly. in the opinion polls. The Coalition is clawing its way back

between the government and Labor The latest has the gap at just six points. the Reserve Bank meeting in just a few hours,

on another rate rise. and likely to sign off One town, two leaders... I'm very much ready to swing. on the NSW north coast. ..both parading their wares so thank you. I'm very much ready to swing,

appears to be waning - But the love affair with Kevin 07 Newspoll in 'The Australian' has fallen 1 point shows support for Labor on a two-party-preferred basis. to 53% on 47%. The Coalition is up 1 point John Howard has risen 2 points As preferred Prime Minister, but still trails Kevin Rudd. Government is likely to end there But the improved news for the tipped to raise interest rates with the Reserve Bank when it meets tomorrow. Now is not the time on economic issues to replace an experienced government with an inexperienced government. were sold at the last election On interest rates, what the people was the big interest-rate con. from the local member. No con, but perhaps a Freudian slip to reintroduce the GST on food. The fairest thing would be Thank you. We won't. Oh, of course. At the end of the Pacific Highway... Hello there! Therese Rein hinting she's clucky. Perhaps of greater insight, though, Now you're in trouble. Her husband reluctant to expand. REPORTER: A baby for the Lodge? Leonie Mellor, Ten News. today unveil the largest overhaul The New South Wales Government will in 25 years. of the state's drinking laws Under the shake-up, boutique bars across the city, which is designed to encourage requiring patrons to have a meal the government will axe legislation in order to drink at restaurants. for as little as $500, Small pokie-free bars can be licensed to apply for a liquor licence while B and B's will also be able for the first time. who flouts the new laws The government is warning anyone faces tough penalties. mother is in a critical condition, A 20-month-old boy has died and his from a Perth apartment block. after falling the scene for clues Police are continuing to search leading up to the tragedy. as to what happened in the moments fell from the fourth floor It's believed the pair in the city's west. of a ten-storey block of flats is in a serious condition the 39-year-old mother Despite fears it could be cancelled, underway in just a few hours. the Melbourne Cup is set to get to wager On cup eve Punters are expected on this year's Melbourne Cup. an unprecedented $160 million flock to Flemmington 120,000 spectators are expected to for a sunny 21 degrees. with the weather forecast national elections will be held Pakistan's Prime Minister says as scheduled in January. violence in the streets of Pakistan The announcement comes amidst growing declaration of emergency rule. after President Pervez Musharraf's clash with lawyers Pakistani police in full riot gear major cities this morning, and political activists in several their president, trying to stop their protests against General Chevez Musharraf. from the country's PM Amid chaos on the streets word came emergency rule. that elections will go on despite

when they will be held. What's unclear is came as Pakistan Supreme Court Musharraf's move to emergency rule was about to rule on whether or not his re-election as president

is legal. 1999 when he took power in a coup. Musharraf has lead the country since disturbed by the unrest, President Bush is said to be deeply

is not willing but for now the administration

to Pakistan. to stop the flow of financial aid Secretary of State Condoleeza Rice, Both the President and

to return to civilian rule. are calling on Musharraf he will take off his uniform, If President Musharraf has said that that would be an important step. plans to visit the country Pentagon officials postponed their

for talks Tuesday. to return his country We urge President Musharraf

as soon as possible. to law-based constitutional rule to democracy in Pakistan, to emergency rule, but critics are calling his move to cling to power. a last ditch attempt Susan Roberts, Ten News. thousands of residents in Mexico, Rescuers are trying to reach after devastating floods. who're without food or water 10 people have been killed in the floods,

or destroyed. for emergency supplies. Thousands of people are still waiting

to slowly recede, River levels have begun but towns remain submerged. The US space shuttle Discovery the International Space Station has left back to Earth. for its two day journey a week and a half on the station Discovery's crew spent for repair work, series of space walks. as well as undertaking a remarkable

the space station Before leaving, the shuttle circled images of its new configuration. so that crew members could capture Master O'Reilly Racing and Melbourne Cup favourite

after strong winds and sun yesterday has firmed even further dried up any talk of a wet track. yet have something to say about that. But master trainer Bart Cummings may

The gap again but Cummings is a

centre of attention. Simeone may

give him good 12 Sidcup. It's been

a pretty good guide to the

Melbourne Cup over the years. Were

in with the show. Simeone shot to prominence

prominence on Saturday after a

Stakes when. She's nice them fresh

air were quite happy with him.

You've got to be in it to win at

his form is good he's a real he's a

rare chance. He's great. Standing

in the way of a dozen cups for the

King as the race favourite, Danny

O'Brien confident Mustoe Reilly has

improved from his Caulfield one.

This is more than a horse race. This is more than a horse race. To

be a more to win it'll be a great roles. 'Master O'Reilly' almost certain to start favourite, 'Zipping' and English stayer 'Purple Moon'. Plenty of money also for Bart Cummings charge 'Sirmione.' Caulfield Cup runner-up 'Douro Valley' is at $41, while last year's favourite 'Tawqueet' is a 50 to 1 shot. 'Railings' and 'Black Tom' the rank outsiders.

roles. Australia's 13 man squad

will get their first love get the get there this morning a head of

Tuesday's first Test was Sri Lanka.

Stuart MacGill and Brad Hogg are

expected to fight it out for the

vacant Test spinners job. Phil

Jones will be Hadrian's new opening partner. The Australian netball team has arrived in New Zealand for next week's world championships, but the girls are playing down their tag as competition favourites. The squad left Melbourne yesterday, and captain Liz Ellis was only too happy to deflect pressure onto the Kiwis.

partner. I think if you're hosting

a tournament and you're the current

world championships you're pretty

much the hot favourites. You can't

underestimate anyone does.

Australia's opening match is against Samoa on Sunday. To finance and Jacinta, monthly meeting today. the Reserve Bank's holding its Yes, home owners are bracing for an expected hike The Reserve Bank is holding its monthly board meeting in Sydney, economists widely tipping a 0.25% rise in interest rates. That would add around $50 to the monthly repayment on a $300,000 loan. The board will announce its decision tomorrow. The oil and gas giant passing US $1 trillion in market capitalisation, when it made its debut on the Shanghai Stock Exchange. The share price trebling on its opening day. China is now home to five of the world's 10 largest companies. Now for a look at the national weather and for the rest of the day.

Let's take a look at the headlines in today's newspapers. US talk show host Oprah Winfrey speaks about abuse allegations The details, when Ten's Early News returns.

Welcome back to Ten's Early News. The glitz and glamour of the Melbourne Cup, $160 million on the big race. punters expected to plunge a record Getting closer, the Coalition narrows the gap on Labor, according to the latest newspoll. Oprah Winfrey speaks publicly about the abuse scandal that's rocked the girls' school she set up in South Africa. And in sport, the Melbourne Victory deny problems with discipline, despite a recent run of reds. First, Jacinta has another look at the markets. When I come back, a second Chief Executive falls victim to the US subprime mortgage crisis. Flemington is preparing to host Australia's greatest and richest horse race. Despite fears it could be cancelled, the Melbourne Cup is set to get underway this afternoon with punters expected to wager an unprecedented $160 million on the big race. The big day has finally arrived and Cup fever's well and truly boiling over. It's great to be here. We're having a ball. Get your Melbourne Cup race book. On Cup eve thousands were making final preparations from caterers and trainers, to fashion guru's.

It's all about the detail. My pants are a little like the Melbourne Cup, a little wild down under. Carson Kressley's tip for the day? "boys don't be shy".

They'll like smash their skullls on the footy feild, but then they're like I'm afraid of pink, aggh. The pace at department stores equally as frenetic, fashion fillies in a flap over last minute purchases. Because of the weather change you don't know. I'm just a last minute kind of girl. But the most important preparations were trackside. The roses given the once over, caterers working round the clock. they add different things,u It gets bigger every year , they add different things, they make it more challenging every year, but yeah, it's great. And a sunny day is forecast to be the backdrop to a crowd of 120,000 at Flemington. Ellesa Throwden, Ten News. To the election, appears to be on the slide. The latest newspoll shows support for Labor has fallen one point to 53% on a two-party-preferred basis. The Coalition is up one on 47%. As preferred Prime Minister, John Howard has risen two points but still trails Kevin Rudd on 47%. The Reserve Bank is tipped to raise interest rates when it meets later this morning. With more I'm joined on the line by Ten reporter James Boyce. James, it appears the Coalition is clawing its way back in the polls?

I guess you could say it's very

encouraging news indeed for a John

Howard. It seems to indicate more a

more how people have predicted the more how people have predicted the

way the first election is going more how people have predicted the way the first election is going to more how people have predicted the way the first election is going to

be. For Mr Howard and his government

government they would be hoping

that they can crawl back another

two points, or even fall before the

election comes around. They put

themselves in a very good chance

fought to win this election. In

1998 they loss the popular vote to

but they won enough seats to stay in Parliament.

in Parliament. We don't know what

the PM is doing for the Melbourne

Cup. We're leaving Sydney at 830

this morning, he's told us we'll

not be at Flemington and we'll not be in Melbourne for the Melbourne

Cup. We could be in North

Queensland or Tasmania but we'll

wait and see. John Howard has

tipped miler for the Cup. He likes

the Irish forces. They queue James. An investigation is underway into allegations a notorious Queensland paedophile breached his parole conditions. Private investigators allegedly capturing images of Mark Anthony Foy talking to children. Initially authorities believed Mark Anthony Foy had legitimate reasons for being at a shopping centre outside his strict curfew. That's now changed, with a full investigation launched into what Foy does in his spare time. The probe announced after the release of incriminating photos from private investigator Steve Burrows showing Foy allegedly talking to children outside a shopping centre. After meeting with Corrective Services Steve Burrows is now preparing a full report. It follows fresh allegations from mother of two Tania Massey who claims Foy twice spoke to her children aged 12 and 14 at Wacol south of Brisbane four weeks ago. Foy was freed in 2004 after more than four years in jail,

He said hello to them. aged between six and 12. for offences against nine children Corrective Services Minister Judy Spence has promised if the allegations against Foy are proven, he'll be sent back to jail. Jesse Grayson, Ten News. dragged by a car A woman is recovering after being during a brazen bagsnatch in Brisbane. The 37-year-old had her handbag grabbed from behind by a woman, the attacker then ran to a waiting car. The victim tried to stop the pair of thieves by approaching the driver. He said hello to them. From that of

a vivid image tended to stop the

driver. It very fortunate leave the

victim hasn't sustained any serious injuries. The suspect has blonde hair and was last seen wearing white pants and a pink top. A learner driver has lost control of her car and ploughed into a tree on Sydney's north shore. The crash, in the early hours of this morning, trapping her male passenger in the car. He's been taken to hospital with suspected leg and rib injuries and is in a stable condition. The driver was not injured.

Police are now investigating. Pakistan's Prime Minister says national elections will be held as scheduled, despite President Pervez Musharraf's declaration of emergency rule. Shaukat Aziz made the announcement amidst growing violence as police clashed with hundreds of lawyers and opposition activists in the streets. Elections are due by mid January, but there were fears they might be abandoned because of the crisis. Oprah Winfrey has described allegations of child abuse at the elite school she set up in South Africa as the most devastating experience of her life. In her first press conference since the allegations came to light, Winfrey pledged to get the school year back on track and to protect the students.

The elite all girls school that started as Oprah Winfrey's dream,

has plummetted into what she calls "a horrible situation." This has been one of the most devastating, if not the most devastating experience of my life. The Oprah Winfrey Leadership Academy, supposedly a haven for disadvantaged girls, reportedly was anything but. A 27-year-old domitory matron is accused of sexually abusing at least six students between the ages of 13 and 15, as well as a 23-year-old at the school. The charges include indecent assault and soliciting under-age girls After a Monday court appearance in Johannesburg, the tearful dorm matron was freed on bail. At the school Winfrey is cleaning house, she has not renewed the head mistresses contract, and the students are getting counselling.

I am prepared to do whatever is necessary to make sure The Oprah Winfrey Leadership Academy for girls becomes

the safe, the nurturing and enriched setting I had envisioned. Winfrey sunk more than high hopes into the boarding school, Melbourne Victory coach Ernie Merrick, denies his side has a discipline problem, despite having three players sent off in a week. The Victory now on the hunt Archie Thompson hobbled into Melbourne airport yesterday and it's little wonder - the striker forced to cover a mountain of ground as an outnumbered Victory slumped to its 3rd third defeat. The reigning premiers reduced to 10 men after just 21 minutes when Jo Keenan was ordered off following this crude challenge on Andrew Clarke. COMMENTATOR: That's an awful tackle. Straight over the ball, studs showing. Keenan was the second Victory player to be sent off in a week before Roddy Vargas made it three when he was shown the red. Coach Ernie Merrick denying any disciplinary issues despite mounting evidence to the contrary. I think if it was the same player on three occasions that would be a different scenario but these are once-offs. The Victory have six days to recover and prepare for Saturday night's clash with Sydney FC. The visitors pencilled in Brazilian import Juninho as a starter after he trained solidly yesterday despite concerns

Roger Oldridge, Ten News. A new face at Waratahs training yesterday, donning his blue training strip for the first time. But going through his paces with whiz-kid Kurtley Beale, Tahu was quick to hose down any premature talk

of becoming a dual international. The Wallabies is probably not a goal at the moment. Trying to make the Waratahs is probably the main goal. The Super 14 season begins in February. AFL and pressure is mounting on the Kangaroos to move permanently to the Gold Coast. Coach Dean Laidley refusing to be drawn on whether or not he thinks the club should relocate. I'm not going to talk about it or get involved in it because that is the worst thing that I can do. There is plenty of people where it's their responsibility in the football club. If the Kangaroos refuse to play ball, the AFL has not ruled out basing a 17th team at Carrara. Taking a look at finance, and Citigroup on the look out for a new CEO. Head of Citigroup Charles Prince has resigned. The US sub-prime mortgage crisis claiming another scalp as Citigroup predicts an extra $11.9 billion

in mortgage-related losses. It comes just a week after the ousting of Merrill Lynch boss Stan O' Neal. NIB shares have soared following the health insurer's first day of trading. NIB is the first private insurer to list on the Australian Stock Exchange and shareholders reaped the benefits, shares closing almost 40% above their issue price at $1.18. It's sparked speculation other funds will follow suit. Now national weather for the rest of the day. in Melbourne We'll cross to our reporter for the latest on today's great race. That's next. And we'll talk to Craig James from CommSec

about today's Reserve Bank meeting on interest rates when the Early News returns. Today. Closing in, its election winning lead Labor retains but the Coalition is clawing back ground in the latest Newspoll. The race that stops the nation, bookmakers expecting a record splurge on the Melbourne Cup. Police clash with protestors in Pakistan as international pressure mounts on the President to end the State of Emergency. And in sport, Stuart MacGill and Brad Hogg in a 'bowl-off' Now for a look at the national weather and for the rest of the day. To finance, and Jacinta has another check of the markets. US stocks are trading lower this morning with Wall Street investors concerned about the impact of credit turmoil, When I come back, for a market updates. we'll cross live to CommSec The Coalition is clawing its way back in the opinion polls. The latest has the gap between the government and Labor at just six points. But the boost for the Coalition could be short-lived, the Reserve Bank meeting in just a few hours,

and likely to sign off on another rate rise. One town, two leaders... I'm very much ready to swing. But the love affair with Kevin 07 appears to be waning - Newspoll in 'The Australian'

shows support for Labor has fallen 1 point to 53% on a two-party-preferred basis. The Coalition is up 1 point on 47%. As preferred Prime Minister, John Howard has risen 2 points but still trails Kevin Rudd. But the improved news for the Government is likely to end there with the Reserve Bank tipped to raise interest rates when it meets tomorrow. Mr Howard rehearsing his new line. Now is not the time to replace an experienced government on economic issues Thank you. We won't. Oh, of course. At the end of the Pacific Highway...

Hello there! Perhaps of greater insight, though, Therese Rein hinting she's clucky. Now you're in trouble. Her husband reluctant to expand. REPORTER: A baby for the Lodge? Leonie Mellor, Ten News. It's been revealed the Howard government cancelled work on a device capable of defusing roadside bombs, back in 2004. It's claimed the robotic technology could have spared Sergeant Michael Lyddiard from horrific injuries he suffered last week. The Townsville-based soldier losing an eye and most of one arm when a bomb he was trying to defuse exploded. Roadside bombs are the leading cause of casualties in Iraq and Afghanistan.

Shots were fired in the club Shots were fired in the club in

Chapel Street just after six this

morning. Paramedics will call to

the same but no one has been

injured. Well, the big day has finally arrived. The race that stops a nation - the Melbourne Cup - is set to get under way in a few hours. With the latest I'm joined live by Ten reporter Ellesa Throwden in Melbourne. Ellesa, how is the day shaping up?

It's going to be a massive day at Flemington. That with the brewers

are predicting a crowd of up to

120,000 people and a very hot day

today. There it'll be seven hours

of racing set to kick off at

10:20am. Celebrity judges Carson

Pressley and Jennifer Hawkins will

be presiding over the events, with

thousands of dollars in prize-money

up for grabs. The caterers and

organisers have certainly gone into

overdrive to provide something

special for racegoers. Her father

Cup favourites? Thickly cut his

master a wryly at the moment. Zipping is the second favourite. But

But Cummings he's going for his

12th the couple when with his tour

Sumit our own. Purple Moon is Sumit our own. Purple Moon is the

overseas favourites. Punters will

part with an unprecedented 100 in

$60 million today. Residents in Victoria's Gippsland region are continuing to clean up after days of wild weather. Torrential rain over the weekend cutting roads and sweeping away bridges. Large amounts of farmland remain under water but houses in the region were largely spared. Flood waters are now receding. A former Perth teacher is on trial for having a lesbian affair with a 16-year-old student. Elizabeth Crothers admits to the relationship, but says it only became sexual after the girl left the school. The court heard in the late '90's while teaching home economics, Elizabeth Crothers took advantage of an insecure and sexually confused young student with low self esteem. The mother of two allegedly pursued the 16-year-old and initiated sexual contact with her. girl several pieces of jewellery, The jury heard Crothers bought the

including what was described as an engagement ring. In his opening address the prosecutor said friends of the teenager

would testify they saw the pair kissing and groping each other while the girl was still a student. The woman's lawyer said there was no but said no crime had been committed. Mr Trow said while teacher-student intimacy may have been inappropriate, it did not constitute any of the 23 allegations against his client. Narelda Jacobs, Ten News. Corrective Services has announced an investigation into alleged parole breaches by a notorious Queensland paedophile. It follows the release of a series of photos

that show Mark Anthony Foy allegedly talking to children. Corrective Services will interview a woman and her two young children seen talking with Foy in one photo. If the allegations are proven Foy's parole will be revoked and he'll be sent back to jail. Pakistan's Prime Minister says national elections will be held as scheduled, despite President Pervez Musharraf's declaration of emergency rule. Shaukat Aziz made the announcement amidst growing violence as police clashed with hundreds of lawyers and opposition activists in the streets. Elections are due by mid January, but there were fears they might be abandoned because of the crisis. Master O'Reilly Racing and Melbourne Cup favourite has firmed even further after strong winds and sun yesterday dried up any talk of a wet track.

But master trainer Bart Cummings may yet have something to say about that.

Dawn on Cup eve, His gelding Sirmione with the chance to hand him a 12th loving Cup. Yeah, it's a good day out, particularly if you have a horse in a bit of form. The MacKinnon Stakes has been a pretty good guide to the Melbourne Cup over the years, so we're in there with a show.

Sirmione quite literally shot to prominence on Saturday. A scintillating MacKinnon Stakes win has the 4-year-old and the soon-to-be 80-year-old right in the mix. He's nice and fresh and we're quite happy with him. Are you confident? You've got to be in it to win it and the winning form is good. He drops a stone from his weight-for-age, to his weight in the Cup, so he's in with a chance. What would it mean to win a 12th Cup? Great. That's it, great. Standing in the way of a dozen Cups for the king is the race favourite. Danny O'Brien confident Master O'Reilly has improved from his Caulfield win. The Cups double looms large. From any perspective, this is more than a horse race. It's a massive event and to be able win it it'd be a great thrill and something you'd have for the rest of your life. 'Master O'Reilly' almost certain to start favourite, 'Zipping' and English stayer 'Purple Moon'. Plenty of money also for Bart Cummings charge 'Sirmione.' Caulfield Cup runner-up 'Douro Valley' is at $41, while last year's favourite 'Tawqueet' is a 50 to 1 shot. 'Railings' and 'Black Tom' the rank outsiders. Australia's 13-man squad will get their first look at the Gabba this morning ahead of Thursday's first Test with Sri Lanka. Stuart MacGill and Brad Hogg are expected to fight it out for the vacant Test spinner's job.

One of those guys could well be in

the starting line-up in May by his knowledge. Phil Jacques will be Hayden's new opening partner.

Today may be Melbourne Cup day, but unfortunately economists say the safest bet will be on an interest rate rise. With more, Craig James from Commsec joins us live. Good morning Craig, is your money on an interest rate rise?

It's no by by May is no sure bet.

We'll get more money for your money

if you pour more money on zipping

in the Cup. What would a 0.25 %

rate rise mean to homeowners? 0.25

% will be called about $25 extra a

month on your mortgage. Duty tax

cuts and wage rises it won't be too

bad. Petrol prices are a five-month

high. The national average of 128 high. The national average of 128 a

metre eight litre. Into looted

three weeks we'll see a peak in petrol prices. weather and for the rest of the day. Now for a look at the national Let's take a look at the headlines in today's newspapers.

A big win for Sydney's small bars movement. The details, when Ten's Early News returns. GOOD MORNING CANBERRA CELEBRATES FAMILY AND COMMUNITY DAY - MORE ON THAT COMING UP SHORTLY BUT FIRST - LOCAL CAR THIEVES SHOULD BE LOCKED BHIND BARS, ACCORDING TO THE A-C-T OPPOSITION.

THEY CLAIM LOCAL COURTS ARN'T TAKING THE ISSUE SERIOUSLY ENOUGH, BAILING THIEVES ONLY FOR THEM TO

RE-OFFEND. WHILE SUPPORTING THE GOVERNMENT'S EXPANDED PROVISION OF ENGINE IMMOBILISERS, THEY SAY LAW CHANGES AND TOUGHER SENTENCING ARE NEEDED TO REDUCE CAR THEFT. A KEY INTERSECTION OF THE GUNGAHLIN DRIVE EXTENSION WILL BE FULLY OPERATIONAL BY THE END OF THE MONTH. OPERATIONAL BY THE END OF THE MONTH. THE GRADUAL COMPLETION OF THE BELCONNEN WAY INTERSECTION WILL BEGIN ON NOVEMBER THIRTEEN, WITH THE OPENING OF THE NORTHBOUND OFF-RAMP. OTHER PARTS OF THE INTERSECTION WILL OPEN IN THE COMING WEEKS, WITH THE ENTIRE ROAD TO BE READY NEXT YEAR. THE A-C-T GOVERNMENT'S STANDING BY TODAY'S LOCAL PUBLIC HOLIDAY. THEY CLAIM FAMILY AND COMMUNITY DAY SHOULD CAUSE AND COMMUNITY DAY SHOULD CAUSE MINIMAL DISRUPTION TO MINIMAL DISRUPTION TO WORKPLACES, SAYING WORKERS WOULD HAVE BEEN DISTRACTED BY THE MELBOURNE CUP ANYWAY FAMILY ACTIVITIES WILL BE SET UP AROUND CIVIC IN CELEBRATION. TO SPORT, AND THE CANBERRA CAPITALS HAVE DOMINATED THIS YEAR'S A-C-T SPORTSTAR OF THE YEAR AWARDS. CARRIE GRAF BECAME THE FIRST COACH TO WIN THE YEAR'S TOP AWARD, WHILE THE CAPITALS WERE NAMED THE TERRITORY'S BEST TEAM. SOFTBALLER ANDREW KIRKPATRICK WAS NAMED OUR BEST SPORTSMAN, WHILE CYCLIST E-ONIE WOOD WAS THE BEST FEMALE. NOW TO THE WEATHER... A TROUGH THAT BROUGHT RAIN AND THUNDERSTORMS OVER THE

WEEKEND HAS MOVED EAST OVER THE TASMAN SEA, AND WILL STAY THERE THIS WEEK.. ACROSS THE NATION TODAY - A FEW SHOWERS IN SYDNEY SYDNEY HEADING FOR 18 DEGREES .. 17 AND SHOWERS IN CANBERRA .. BRISBANE RAIN AND 24 .. FINE IN PERTH PARTLY CLOUDY AND 22 IN WAGGA TODAY .. SHOWERS IN WOLLONGONG ORANGE AND DUBBO .. ALBURY FINE AND 23 AFTERNOON SHOWERS AND 15 IN BATHURT .. BATEMANS BAY HEADING FOR 17 TODAY .. COOLER AND 11 IN BOWRAL .. MUDGEE EPXECTING 19 AND A SHOWER OR TWO .. AND 22 IN 19 AND A SHOWER OR TWO .. AND 22 IN PARKES LOOKING AHEAD AND SHOWERS AND 17 IN THE CAPITAL

WITH 19 ON FRIDAY .. (NO SCRIPT NEEDED HERE) GOOD MORNING BRETT LEE'S GEARING UP FOR THIS WEEKS TEST UP AGAINST GOOD MORNING

Welcome back to Ten's Early News. This morning. The glitz and glamour of the Melbourne Cup - punters expected to plunge a record $160 million on the big race.

Getting closer - the Coalition narrows the gap on Labor, according to the latest Newspoll. Oprah Winfrey speaks publicly about the abuse scandal

that's rocked the girls' school she set up in South Africa. And in sport, the Melbourne Victory deny problems with discipline, despite a recent run of reds. Time for a last look at the markets. Lots of jitters on Wall Street

after a heavy sell-off on Asian markets and also a major shake-up at the world's biggest bank, Citigroup.

When I come back,

a multibillion-dollar bid fro Nufarm. China leads a multibillion-dollar bid for Nufarm. Flemington is preparing to host Australia's greatest and richest horserace. Despite fears it could be cancelled, the Melbourne Cup is set to get under way this afternoon with punters expected to wager an unprecedented $160 million

on the big race. The big day has finally arrived

and Cup fever's well and truly boiling over. It's great to be here. We're having a ball. Get your Melbourne Cup race book. from caterers and trainers, to fashion gurus. It's all about the detail. My pants are a little like the Melbourne Cup, a little wild down under. Carson Kressley's tip for the day? "Boys don't be shy". They'll like smash their skullls on the footy feild, but then they're like I'm afraid of pink, aggh. The pace at department stores equally as frenetic, over last-minute purchases. fashion fillies in a flap you don't know. I'm just a last minute kind of girl. But the most important preparations were trackside. The roses given the once-over, caterers working round the clock. It gets bigger every year, they add different things, they make it more challenging every year, but yeah, it's great. And a sunny day is forecast to be the backdrop to a crowd of 120,000 at Flemington. Ellesa Throwden, Ten News. Police have been called to the scene of a shooting at a Melbourne nightclub. It's believed shots were fired at the club in Chapel Street, South Yarra, just after 6:00am this morning. Paramedics were called to the scene but no-one's been injured. The area has now been cordoned off. A 20-month-old boy has died and his mother is in a critical condition after falling from a Perth apartment block. Police are continuing to search the scene for clues as to what happened in the moments leading up to the tragedy. It's believed the pair fell from the fourth floor of a 10-storey block of flats in the city's west. The toddler died in hospital. The 39-year-old mother is in a serious condition after undergoing emergency surgery. To the election - and the love affair with Opposition Leader Kevin Rudd appears to be on the slide. The latest Newspoll shows support for Labor has fallen one point to 53% on a two party-preferred basis. The Coalition is up 1 on 47%. As preferred Prime Minister, John Howard has risen two points but still trails Kevin Rudd on 47%. The Reserve Bank is tipped to raise interest rates when it meets later this morning. The New South Wales Government will today unveil the largest overhaul of the State's drinking laws in 25 years. Under the shake-up, which is designed to encourage boutique bars across the city, the Government will axe legislation requiring patrons to have a meal in order to drink at restaurants. Small pokie-free bars can be licensed for as little as $500, while B'n'Bs will also be able to apply for a liquor licence for the first time. The Government is warning anyone who flouts the new laws faces tough penalties. Pakistan's Prime Minister says national elections will be held as scheduled in January. The announcement comes amidst growing violence in the streets of Pakistan after President Pervez Musharraf's declaration of emergency rule. Pakistani police in full riot gear clash with lawyers and political activists in several major cities this morning, trying to stop their protests against their President, General Pervezhe Musharraf. Amid chaos on the streets word came from the country's PM that elections will go on despite emergency rule. What's unclear is when they will be held. Musharraf's move to emergency rule came as Pakistan's Supreme Court was about to rule on whether or not his re-election as President is legal. Musharraf has lead the country since 1999 when he took power in a coup. President Bush is said to be deeply disturbed by the unrest,

but for now the Administration is not willing to stop the flow of financial aid to Pakistan. Both the President and Secretary of State Condoleeza Rice are calling on Musharraf to return to civilian rule. If President Musharraf has said that he will take off his uniform, that would be an important step. Pentagon officials postponed their plans

to visit the country for talks Tuesday. We urge President Musharraf to return his country to law-based constitutional rule as soon as possible. Musharraf insists he is committed to democracy in Pakistan, but critics are calling his move to emergency rule a last-ditch attempt to cling to power. Susan Roberts, Ten News. Oprah Winfrey has described allegations of child abuse at the elite school she set up in South Africa

as the most devastating experience of her life.

In a press conference, Winfrey pledged to get the school year back on track and to protect the students. No-one, not the accused nor any persons can destroy the dream that I have held and the dream that each girl continues to hold for herself at this school. A 27-year-old female dormitory assistant has been released on bail on charges of indecent assault.

Melbourne Victory coach Ernie Merrick denies his side has a discipline problem, despite having three players sent off in a week. The Victory now on the hunt for another defender. Archie Thompson hobbled into Melbourne airport yesterday and it's little wonder - the striker forced to cover a mountain of ground

The reigning premiers reduced to 10 men after just 21 minutes when Jo Keenan was ordered off following this crude challenge on Andrew Clarke. COMMENTATOR: That's an awful tackle. Straight over the ball, studs showing. Keenan was the second Victory player to be sent off in a week

before Roddy Vargas made it three when he was shown the red. Coach Ernie Merrick denying any disciplinary issues to the contrary. despite mounting evidence I think if it was the same player on three occasions

that would be a different scenario but these are once-offs. The Victory have six days to recover and prepare for Saturday night's clash with Sydney FC. The visitors pencilled in Brazilian import Juninho as a starter after he trained solidly yesterday

despite concerns over a shoulder injury. Roger Oldridge, Ten News. A new face at Waratahs training yesterday, former Eels centre Timana Tahu donning his blue training strip for the first time. But going through his paces with whiz-kid Kurtley Beale Tahu was quick to hose down any premature talk The Wallabies is probably not a goal at the moment. Trying to make the Waratahs is probably the main goal. The Super 14 season begins in February. on the Kangaroos AFL, and pressure is mounting to move permanently to the Gold Coast. Coach Dean Laidley refusing to be drawn on whether or not he thinks the club should relocate. I'm not going to talk about it or get involved in it because that is the worst thing that I can do. There is plenty of people where it's their responsibility in the football club. If the Kangaroos refuse to play ball, the AFL has not ruled out basing a 17th team at Carrara. Finance, China launches a takeover proposal for Nufarm. the Chinese chemical giant has made a multibillion dollar-bid for the agriculture chemical business. Chem-China is offering $3 billion. the proposal receiving conditional support at this stage from Nufarm. Under the plan,

Nufarm shareholders will receive over $17 cash for each share. The two parties are continuing exclusive negotiations Australia's first major cross-media deal in 20 years has gone ahead. Southern Cross Broadcasting has been carved up between the Macquarie Media Group and Fairfax Media. Macquarie Media plans to on-sell metropolitan radio stations to Fairfax Media for more than $500 million while holding onto the Southern Cross 10 regional TV network. And that's the latest finance. Now national weather for the rest of the day. A quick recap of the morning's top stories. Closing in - Labor retains its election-winning lead but the Coalition is clawing back in the latest Newspoll. bookmakers expecting a record splurge on the Melbourne Cup. And police clash with protesters in Pakistan as international pressure mounts on the President to end the state of emergency. That's it for Ten Early News. I'm Frank Coletta, bye for now. And I'm Jacinta Hocking. We leave you with highlights of last night's Crowded House concert in Sydney. The first on their comeback tour. Good morning. Supertext captions by Red Bee Media Australia www.redbeemedia.com.au