Note: Where available, the PDF/Word icon below is provided to view the complete and fully formatted document
Disclaimer: The Parliamentary Library does not warrant the accuracy of closed captions. These are derived automatically from the broadcaster's signal.
Ten Early News -

View in ParlView

(generated from captions) This program is captioned live. Good morning. I'm Bill Woods. morning. I'm Bill Woods.

Ten's Early News. I'm jam lean Maddock. Welcome to

Today's headlines:

Peter Costello finally ends Liberal leadership speculation, declaring

he is not interested in the top job

and is planning to leave politics.

Another scandal hits the NSW

Government - a newly promoted

minister forced to resign. Government - a newly promoted

The Socceroos kick off their final

round of World Cup qualifying with

victory over Uzbekistan.

US investment giant Lehman Brothers

expecting billion-dollar losses as

it announces drastic measures to

stay afloat.

Peter Costello has finally broken

his silence on the Liberal

leadership and declared he is not

interested in the top job. The

former treasurer says he's looking at opportunities outside politics at opportunities outside politics at opportunities outside polit

but plans to stay on as a backbencher

backbencher until he's ready to go.

He'd been touted as a possible

saviour for the Liberal Party but

Peter Costello has no aspirations

for the top job, announcing plans

to serve out his time in Parliament

as a backbencher. Speaking to

Fairfax newspapers, Mr Costello

says he supports current leader

Brendan Nelson, despite his dismal

polling figures. His colleagues are

I'm disappointed but not surprised.

for I'm disappointed for our country,

for our party. Most of all, I'm

disappointed for Peter. Mr Costello

says he's looking at options in says he's looking at options in

business and would leave Parliament business and would leave Parliament

when it suited him. I think he will

live forever with this haunting

sense of what might have been.

Dropping bombshells before the

launch of his memoirs, the member

for Higgins has blamed John

Howard's refusal to stand down for

the Coalition's election loss. He

claims Mr Howard's wife, Janette,

persuaded him to stay on as pm, persuaded him to stay on as pm,

him gone. even though his colleagues wanted

Just three days after being sworn

in as NSW Police Minister, Matt

Brown has been forced to resign

for simulating a sex act on a

colleague. Mr Brown has admitted to

the drunken incident, which

happened during a party following a

late-night sitting of State

Parliament three months ago. A

witness has told the 'Australian'

newspaper, Mr Brown stripped down

to his underpants before mounting

the chest of Labor MP, Noreen Hay.

Mr Brown says he deeply regrets the

incident and any embarrassment it's

caused. Victoria's controversial abortion

bill has cleared its first major

hurdle passing a conscience vote in

the lower house. The often

emotional debate on amendments bill

continued well into the early hours

of the morning. A final vote will

be taken today before the bill

proceeds to the Upper House. The proceeds to the Upper House. The legislation decriminalises abortion up to 24 weeks of pregnancy. legislation decriminalises abortion

A woman has been charged over the

stabbing death of a man in stabbing death of a man in Melbourne The

African The victim, believed to be of

African descent, was found lying in

the woman's front yard. He's come

down and found this male deceased

on the foot path. He's taken some

vital signs and found the male to

be deceased. It's believed the

pair knew each other. Opposition leader Brendan Nelson

has promised to help struggling

pensioners with an extra $30 a week.

He'll put the legislation to pensioners with an extra $30 a week.

Parliament next week but the Government won't make any changes

until a review into the pension until a review into the pension is

completed in February. But pension

groups say relief is urgently

needed. Skipping meals. Pensioners

who go to bed early to save on

lighting costs. Pensioners who, you

know, cannot travel to see family

and friends because they can't and friends because they can't

afford to. The Pensioner and

Superannuants Association says an

extra $80 a week is needed to make

of life. a difference to pensioners' quality

Republicans are demanding an

apology after Barack Obama made a

reference to putting lipstick on a

pig during a campaign rally. They

claim it was a direct attack on Sarah Palin. their vice-presidential candidate

Lipstick is now a fighting word on

the campaign trail. John McCain's

campaign wants an apology from

Barack Obama after he said this at

a rally in Virginia. You can put

lipstick on a pig, it's still a lipstick on a pig, it's still a pig.

Obama is not backing down. He says

that was a dig at McCain's claim

that he's the candidate who will

bring change to Washington. I'm

talking about John McCain's

economic policies. I've said it's

more of the same. You can put

lipstick on a pig and it's still a

pig and suddenly they say, "You

must be talking about the Governor

of Alaska." Some charge it was a

direct attack on Sarah Palin. She

mentioned make-up in her speech to mentioned make-up in her speech to

the convention. They say the

difference between a hockey mom and

a pit bull? Lipstick. But John

McCain used the same phrase in

October of last year describing the

health care plan put together by Hillary

Hillary Clinton in the 1990s.

Hurricane Ike is roaring through

the Gulf of Mexico towards Texas.

Residents are preparing to evacuate

and President George W Bush has

declared a state of emergency.

There are going to be some that

always either criticise you or

question evacuations but our old

adage at the state operations

centre it's buses rather than body

bags. Forecasters predict Ike could

be a dangerous Category Three storm

by the time it makes land fall. The

hurricane has left a trail of

destruction across the Caribbean,

killing at least 80 people.

Scientists are celebrating the successful start of an experiment

to recreate the Big Bang. Despite predictions of catastrophe, they've

fired or test fired two beams of

protons into a particle

accelerator and around a 27km-long

tunnel under the French-Swiss

border. Eventually the beams will

be steered in opposite directions

at almost the speed of light until

they collide which could recreate

on a miniature scale the heat and

energy of the Big Bang.

The Socceroos have kicked off the final stage of World Cup qualifying

with a priceless 1-0 win over the

fancied side, Uzbekistan. Scott

Chipperfield's first-half header was enough to score victory.

COMMENTATOR: It's a goal for

Australia. 26 minutes played.

The perfect centre.

Uzbekistan have lost their opening

battle to qualify. two matches and face an uphill

The finals fun and games continue

at Collingwood. They say Scott

Burns is no certainty to line up

against St Kilda and key forward

Travis Cloke was a mysterious no show at training. Cloke had the day off to freshen up The media was told but the coach was at his elusive best when asked if there was an injury problem. No, not really. JOURNALIST: So he's a definite? I wouldn't have thought anyone's a definite. Scott Burns had his best hit-out since injuring his calf,

but he has no guarantees either. He's where we thought he'd be so we'll just now wait up. I don't know whether the doctor is as convinced as you or me. 21-year-old Robbie Warnock has officially cut ties with Fremantle. After just 21 games, the 206-centimetre ruckman is returning home to Victoria for family reasons. His brother Matthew plays at the Demons. The Sydney Swans have been quietly preparing for the Bulldogs at the MCG on Friday night, but they are not feeling the heat of the cut-throat final. There's no pressure on us, Friday night. Probably no-one expects us to win but we're really excited about the finals campaign and we reckon we can really shake it up.

North Queensland's Sione Faunuina

North Queensland's Sione Faunuina

is in police custody after being

arrested and charged for wilful

damage in inner city Brisbane overnight. Meantime,

Meantime, the New Zealand Warriors

fancy their chances when they take

on Greg Inglis's team, the

Melbourne Storm, in Sunday's time.

I definitely think they'll be wary

of us. We've beaten them before and

beaten them over there. Hopefully

they'll panic a bit! Inglis has

signed a new deal with the Storm.

The St George Illwarra Dragons say

they know how to beat Manly.

Rugby league convert, John Hopoate,

has won the Australian heavyweight

boxing title. Three-time national

champion Bob Mirovic used his experience

experience to unsettle the experience to unsettle the

challenger but Hopoate unleashed a furious combination at the end of the ninth round.

Mirovic's corner threw in the towel

for Hopoate to become the new national champion. Jacqui,

Jacqui, US investment giant Lehman

Brothers taking drastic action to

stay afloat.

Absolutely. It's America's fourth

largest investment bank and it

plans to sell a majority stake in

its money management unit. It says

it will consider selling off the

entire company. Lehman lost nearly

$4 billion last quarter and its

shares have plunged more than 80%

this year.

Lehman Brothers lifted the lid on

its financial troubles. The its financial troubles. The

nation's fourth largest investment

bank is expecting a nearly $4

billion loss in the third quarter

and it's unloading assets to stay

alive. They have pretty close to

$65 billion to $70 billion of

assets that need to be turned into

cash. If they continue doing that,

I think they are going to survive.

The company will sell the majority of its prized investment

management business and will spin

off $32 billion in commercial

mortgage assets by early next year.

Lehman Brothers is more than 150

years old. It survived two world

wars and the Great Depression. But today its chief executive said this

is the toughest period in the

firm's history. That's because of

the company's bad bets in the mortgage market, which have caused

its stock to plunge by 90% since last year.

Just two days ago, the Government

seized mortgage giants Fannie may

and Freddie McAs the companies

started to crater. Wall Street is

wondering whether the feds would be

willing to come to the rescue again

and hoping the company can save itself. itself.

The price of oil has rebounded

overnight following a decision by

OPEC to cut oil production N a

surprise move, the oil cartel

announced production would be

slashed by 500,000 barrels a day.

I don't think this will affect, you

know, the consumers in any way,

because, first of all, there is an

oversupply. Everybody agrees with

that. There is very high stock. The

cut in production is to start immediately.

Briefly in other news, consumer

sentiment rose 7% according to the Westpac-Melbourne Institute's September survey.

Australian-based miners BHP and

Petsec Energy have evacuated staff and

and shut down production in the

Gulf of Mexico as Hurricane Ike

bears down.

The vast majority of Seven Network

investors have approved the

company's planned share buyback.

After OPEC's announcement, energy

stocks drive a rebound on Wall Street overnight. The forecast around the nation today:

Cloud increasing across Brisbane

and Sydney with temps in the low

20s. Canberra also cloudy. 18 detkwreefplts

Melbourne might see a shower today.

Adelaide and pert - showers.

Checking this morning's front pages.

The 'Age' says Peter Costello has

confirmed he'll not challenge for confirmed he'll not challenge for the Liberal leadership. Financial markets have been shaken

by news a deal a rescue US

investment bank Lehman Brothers has collapsed.

The Adelaide 'Advertiser' says

cancer patients at Royal Adelaide cancer patients at Royal Adelaide

Hospital had their lives cut short by a radiation treatment bungle.

by a radiation treatment bungle.

The new study linking education to

obesity. Details when the Early News returns.

This program is captioned live.

This is Ten's Early News. Today's top stories:

Not interested - Peter Costello

ends speculation that he'll

challenge for the Liberal Party

leadership or even inherit it. He's

blamed John Howard's for the Coalition's election loss too.

The soap opera not over yet for the The soap opera not over yet for the

NSW Government as the new Police

Minister resigns over lewd, drunken behaviour.

Scientists in Europe take the next

great step in their $10 billion

experiment as they hope to unlock

the secrets of the universe.

In finance news - US investment

giant Lehman Brothers announces an

emergency plan to avoid collapse.

But first - after months of speculation, Peter Costello has

ruled out challenging Brendan

Nelson for the Liberal leadership. Nelson for the Liberal leadership.

He says he has no interest in the

top job. The former treasurer has

told Fairfax newspapers he'll stay

on as backbencher, but is looking at

at options outside politics for

when he does decide to leave. He

says his position hasn't changed

since the day after the election.

Coalition frontbencher, Tony Abbott,

says he is disappointed. I think Peter Costello will always be

remembered as a really outstanding

treasurer, one of the great heroes

of the Liberal Party.

Mr Costello has also blamed John

Howard's refusal to retire for the

Coalition's loss at the last

election. NSW extreme remember Nathan Rees

has been rocked by allegations one

of his ministers simulated a sex

act on a colleague. Police Minister

Matt Brown has been forced to quit

in disgrace after admitting to the

incident, which happened following

a late-night sitting three months

ago. A witness told the

'Australian' newspaper Mr Brown

stripped down to his underpants and

mounted the chest of MP Noreen Hay.

Mr Brown says he regrets the incident.

An 81-year-old man will appear in a

NSW court today charged with

attempted murder. This follows an

incident at a home on the state's

mid-north coast. A 75-year-old

woman was found with severe head

injuries and remains in a sear cuss condition.

The Federal and NSW Government

haves bought a massive irrigation

station on the Murray River.

The Rudd Government provided

substantial assistance to buy

Toorale Station. Under the deal, an average 20 gigalitres of Watt

letter be returned to the darling

river each year peaking at up to 80

gigalitres in flood years.

Poorly educated parent are more

than twice as likely to have fat

children according to a new study.

It's found obesity rates in the

lowest socioeconomic groups have

grown at almost triple the rate in

the highest group. A leading health

education researcher says the

Government needs to tackle social

inequalities rather than shame and

blame if it wants to combat obesity.

The findings will be represented to Parliament today.

Scientists hope they're a step

closer to understanding the

universe after the start of the

world's biggest, most expensive

experiment. They're recreating the Big

Big Bang by smashing particles

together at almost the speed of

light.

After a decade building the world's

biggest atom smasher, they could

only pray, or whatever scientists

do when they're worried that ?5

billion worth of machinery might

publicly not work. They were trying

to send the first beam of subatomic

particles along this track. Just

before 9:30 came the signal they

wanted - two blobs on a screen as

the beam passed the start for the

second time. This machine has

worked together as one machine.

It's fantastic. Fantastic. The LHC

is essentially a circular tunnel 17

miles long and 300 feet underground.

The really clever stuff is inside.

In this tube, subatomic particles

called protons speed around the

circuit. Powerful supermagnets pull

them round, faster and faster,

11,000 laps a second. Two beams travelling in opposite directions

are steered into a collision, a collision that hasn't happened

since the first billionth of a second of the Big Bang.

Actor Matt Damon has weighed into

the debate surrounding the choice

of Sarah Palin as the Republican

vice-presidential candidate. He

says the possibility of Governor

Palin becoming president is

terrifying. I think the pick was terrifying. I think the pick was

made for political purposes but in

terms of governance it's a disaster.

It's like a really bad Disney movie.

Meantime, John McCain has called on

Barack Obama to apologise for his

comment that a pig wearing lipstick

is still a pig. It's being seen as

an attack on Governor Palin who

described herself as a pit bull with lipstick just last week.

At least 128 people have been

killed after a landslide swept

through a small mining community in central

central China. Many more are feared

dead after a dam holding back

sludge at a mine burst due to heavy

rain. A torpbtd of rocks and sludge

engulfed a marketplace and homes.

Police and villagers are searching for survivors.

The Socceroos have secured all

three points in their opening

second-round World Cup qualifier

against Uzbekistan in Tashkent. A

26th minute header from Scott

Chipperfield proved the winning goal

1-0 to Australia.

COMMENTATOR: Chipperfield! It's a

goal for Australia. 26 minutes

played. The perfect centre and Scott Chipperfield with the perfect

header and the perfect start for

the Socceroos. They might have

doubled their advantage just before half-time but Mark Bresciano

squandered a one-on-one chance.

Rugby league's Greg Inglis has

Rugby league's Greg Inglis has

revealed he knocked back an offer

of of $1 million a season in order

to stay with the Melbourne Storm.

He turned his back on the big bucks

of European rugby union. The handshake that sealed the deal, Greg Inglis revealing he could have made double the money overseas. over a mill a season, I could have earned that offer. but I didn't want to take to be around this bunch of people. I love it down here and want outside of Melbourne The money available than what Greg will receive here would be far greater for the long-term future. but he's made a sacrifice

a season. He'll make close to $500,000 Inglis admitting he talked up fears Sonny Bill Williams in French rugby he was set to join to improve his bargaining power. with you blokes in the media. Just playing little games Bloody worked a treat too, I reckon. Mate, if I went over to France, to be honest, I'd be back here in two weeks. I don't like change too much. And the Brisbane Broncos have gone into camp in Sydney ahead of tomorrow night's showdown with the Roosters. a little bit earlier and get us staying as a team and kinda gelling a little bit. And quickly acquainting themselves with the team bus. (HORN BLARES) Leanne West, Ten News.

North Melbourne's Jess Sinclair has

announced his retirement after 192

AFL games. The running defender says AFL games. The running defender says AFL games. The running defende

the club told him he'd have limited

opportunities next season. Mentally

it's not good for you and Eddie

gave me no guarantees that I'd get

any games next year. Probably don't

need that stress in your life. The

30-year-old started his career with

50 games at Fremantle and then

moved to the Kangaroos.

Another great night for Australia

in the pool at the Beijing

Paralympics. Dual Paralympian

swimmer Katrina Porter won gold and

in world record time in the 100m

backstroke. Gold to Australia!

1:24.30. New world record. I'm

stunned. I don't know what to do.

I'm just amazed. I never thought

I'd win a gold medal. Heartbreak

for cerebral palsy runner Tim

Sullivan. The Australian's bid for

a 10th Paralympic gold medal ending

when he tripped in the home

straight of his 400m final.

Fears US investment giant Lehman

Brothers is on the brink of

collapse due to bad debts has

rocked global markets, including

local stocks. With more, CommSec's

Juliette Saly joins us live. Juliette, Lehman Brothers is taking

taking drastic measures to try and stay

stay afloat. It certainly is, Jacqui.

Jacqui. The troubled investment

firm has announced a rescue plan after

after reporting its biggest

quarterly lo in its $158-year history.

It is trying to shore up

conservative capital and regain

investor confidence. It's also cut

its annual dividend from 68 US

cents to just 5 cents. What's been

Wall Street's reaction to the news?

We saw good gains initially but

seegs. they start towards the end of the

The Dow put on a third of one per

cent by close. European and Asian

markets were lower overnight. We

should have moderate gains on our

update. Thanks. market tootd. OK, thanks for the

Last week' official interest rate

cut has been given a big thumbs-up

from households. Consumer

sentiment has risen 7% according to the

the Westpac Melbourne Institute's September survey.

September survey.

Briefly in other news, OPEC has

announced it will cut oil

production by 520,000 barrels a day

to avoid fresh turmoil in crude

markets. It's been revealed asick

was warned more than two years ago

that questionable acounting at ABC

Learning to overstate the value of

the company and Nexus energy has the company and Nexus energy h

agreed to the sale of 25% of its agreed to the sale of 25% of its

offshore crude oil project in WA.

Let's look at the shape of the day.

President Bush declares a state of

emergency as Hurricane Ike closes

in on Texas. That story coming up.

Recently moved to Canberra? VOICEOVER:

Then you could win one of four

accounts $5,000 Service One Members Banking your Medicare address. simply by updating uses population numbers The Australian Government each community receives. to decide how much funding the population is counted. And Medicare addresses are one way

So update your address today on 132011. by calling Medicare Australia Service One Members Banking branch Then enter the draw at a or at somb.com.au and you could win $5,000 and help your community.

This program is captioned live. This program is captioned live. Today's headlines on the Early News:

Peter Costello ends the guessing

game over the Liberal leadership.

He's declared he is not interested in the top job.

Another scandal hits the NSW

Government. A newly promoted

minister forced to resign over lewd, drunken behaviour.

In sport, the Socceroos kick off

their final round of World Cup

qualifying with a victory over

Uzbekistan.

And in finance news, US investment

giant Lehman Brothers expecting

billion-dollar losses as it

afloat. announces drastic measures to stay

Checking

briefly: Checking the weather forecast

Peter Costello has broken his

silence on the Liberal leadership

after months of speculation and

he's declared he has no interest in

the top job. In an interview with

Fairfax newspapers, the former

treasurer says he will stay on as

backbencher and is in no hurry to

leave politics. He says his

position on the leadership has not

changed since the day after the

election. Coalition frontbencher,

Tony Abbott, says that is a great loss.

I'm very disappointed. I'm

disappointed for our country, for

our party, most of all I'm

disappointed for Peter, because I

think he will live forever with

this haunting sense of what might

have been. Mr Costello has also

blamed John Howard's refusal to

retire for the Coalition's loss at

the election.

Just three days after being sworn

in as NSW Police Minister, Matt

Brown has been forced to resign

for simulating a sex act on a

colleague. Mr Brown has admitted to

the drunken incident which happened

during a party following a

late-night sitting of Parliament

three months ago. A witness has

told the 'Australian' newspaper, Mr

Brown stripped to his underpants

before mounting the chest of Labor

MP Noreen Hay. Mr Brown says he deeply

deeply regrets the incident and any deeply regrets the incident and any

embarrassment it's cause the.

A woman has been charged over the

stabbing death of a man in Melbourne

The victim believed to be of

African descent was found lying in

the woman's front yard. He's come

down and found this male deceased

on the footpath. He's taken some

vital signs and found the male to

be deceased. It's believed the

pair knew each other.

An urgent summit is being

organised to tackle Melbourne's

alcohol-fuelled CBD violence. This

follows a series of incidents last

weekend. One resulted in the death

of a 24-year-old man in a city

nightclub. The Lord Mayor has

warned the CBD risks becoming a

no-go zone.

An incident like this is damaging

to Melbourne and that's why the

council is calling on everyone to get

get together and let us find a way

forward. City Council wants 25 more forward. City Council wants 25 more

police on the streets.

have The Federal and NSW governments

have brought a massive irrigation

station on the darling river to

help boost environmental flows. The help boost environmental flows. The

Rudd Government provided Rudd Government provided

Toorale substantial assistance to buy

Toorale Station for more than $23

million. Under this deal, an

average of 20 dig litres of water

will be returned to the darling

river each year, peaking at up to

80 gigalitres in flood years.

Hurricane Ike is roaring through

the Gulf of Mexico towards Texas.

Residents are preparing to evacuate

and President George W Bush has

declared a state of emergency.

There are going to be some that

always either criticise you or

question evacuations, but our old

adage at the state operations

centre is it's buses rather than

body bags. Forecasters say that Ike

could be a dangerous Category 3

storm by the time it makes land

fall. The Hurricane has already

left a trail of destruction across

the Caribbean, killing at least 80 people. In

In the US election campaign,

Republicans are demanding an

apology after Barack Obama made a

reference to putting lipstick on a

pig during a campaign rally. They

claim it was a direct attack on their vice-presidential candidate, Sarah Palin.

Lipstick is now a fighting word on

the campaign trail. John McCain's

campaign wants an apology from

Barack Obama after he said this at

a rally in virjna. You know, you

can put lipstick on a pig. It's

still a pig.

Obama is not backing down. He says

that was a dig at McCain's claim

that he's the candidate who will

bring change to Washington. I'm

talking about John McCain's

economic policies. I'm saying it's

more of the same. You can put

lipstick on a pig, but it's still a

pig. And suddenly they say, "Oh,

you must be talk bgt governor of

Alaska." But some in the GOP charge

it was a direct attack on the VP nominee, Sarah Palin. She mentioned nominee, Sarah Palin. She ment nominee, Sarah Palin. She mentioned

make-up in her speech to the

Republican national convention. You

know they say the difference

between a hockey mom and a pit bull

- lipstick. But John McCain used

the same phrase in October of last

year describing the health care

plan put together by Hillary Clinton in the 1990s.

The Socceroos have kicked off the

final stage of World Cup qualifying

with a priceless 1-0 win over the fancied side Uzbekistan. Scott

Chipperfield's first-half header

was enough to secure victory.

COMMENTATOR: Chipperfield! It's a

goal for Australia. 26 minutes

played. The perfect centre.

Uzbekistan has now lost its two

opening group A matches and faces an uphill bat toll qualify.

Well, the finals fun and games

continue at Collingwood. The club

says captain Scott Burns is no

certainty to line up in Saturday's sudden-death semifinal against St

Kilda, while key forward Travis

Cloke was a mysterious no-show at Magpies training.

The media was told Cloke had the day off to freshen up but the coach was at his elusive best when asked if there was an injury problem. No, not really. JOURNALIST: So he's a definite?

I wouldn't have thought anyone's a definite. Scott Burns had his best hit-out since injuring his calf, but he has no guarantees either. He's where we thought he'd be so we'll just now wait up.

I don't know whether the doctor is as convinced as you or me. 21-year-old Robbie Warnock has officially cut ties with Fremantle. After just 21 games, the 206-centimetre ruckman for family reasons. His brother Matthew plays at the Demons. The Sydney Swans have been quietly preparing for the Bulldogs at the MCG on Friday night, but they are not feeling the heat of the cut-throat final. There's no pressure on us, Friday night. Probably no-one expects us to win but we're really excited about the finals campaign and we reckon we can really shake it up.

Ian Cohen, Ten News.

In rugby league news, North In rugby league news, North

Queensland's Sione Faunuina is in

police custody after being arrested

and charged for wilful damage in

inner city Brisbane overnight.

Meantime, the New Zealand Warriors

fancy their chances when they take

on Melbourne in Sunday's

you'llifying final. I definitely

think they will be squarey of us.

We've beaten them before and we've

beaten them over there. Hopefully

they'll panic a little bit. And the

St George Illwarra Dragons say they

know how to beat Manly in Saturday

night's final at Sydney's Brookvale Oval. US investment giant Lehman Brothers

has announced plans to sell assets

in a bid to stave off collapse.

With more, CommSec's Juliette Saly

joins us live.

How has Wall Street reacted to the

news? We saw some good gains

initially, the Dow up 150 points at

one point, but we did see those

gains start to fade towards the close on worries about other

financial firms, the Dow putting on

37 points by close. Lehman has announced its biggest quarterly

loss in its history, a $3.9 billion

quarterly loss, and also announced

$5.6 billion in writedowns before

announcing the rescue package,

which involves selling some of its

assets and spinning off commercial

real estate operations. OK. What do

you think it means for our market

today? Hopefully we'll see good

support for financial stocks. We

saw BHP Billiton shares listed in

New York up 4.5%. We've had lower

oil and gold prices overnight. But

base metals were generally higher. London's FTSE Index full 1%

overnight and we saw Asian markets

weaker yesterday but looking at the

futures, it looks like moderate

gains for our market. It's up by

about 15 points or 0.25%. Juliette

Saly from CommSec, thanks for the update. Thanks.

Receivers have moved in on Gold

Coast-based developer the Raptis

Group. The company is on the verge

of collapse, owing creditors more

than $750 million. About 500

workers walked off a job at

Southport central just eight floors

from completion but it was business

as usual on the company's flagship

Hilton Hotel site. The group

yesterday placed its Sheraton yesterday placed its Sheraton

Mirage hotel on the market. Shares

in Raptis Group remain in a trading halt.

A look at the national forecast now A look at the national forecast now

around the major centres: Theking this morning's newspaper

headlines now, the 'Australian' has

more on revelations that NSW Police

Minister Matt Brown simulate ad sex

act on a fellow Labor MP.

The herald's business day says

asick was warned two years ago childcare operator ABC Learning was

overstating the value of the company.

And the 'Daily Telegraph' has more

on the story that was breaking this

time yesterday - Dr Graham Reeves

has been charged with 17 offences,

including sexual assault.

Scientists take the next great step

in unlocking the secrets of the

universe. Details when the Early News returns.

GOOD MORNING... I'M FIONA NELSON, WITH YOUR LOCAL NEWS...

FIRST UP, A-C-T POLICE, HAVE FOUND AMMUNITION AND STOLEN GOODS, AT A HOUSE IN CANBERRA'S SOUTH. POLICE SEARCHED THE HOUSE IN THEODORE YESTERDAY, AND THE HOUSE IN THEODORE YESTERDAY, AND SEIZED A CAR, MOTORBIKES, ELECTRICAL EQUIPMENT, AND JEWELLERY.

TWO MEN, AND ONE WOMAN, HAVE FRONTED THE WOMAN, HAVE FRONTED THE MAGISTRATES COURT, IN RELATION TO THE SEARCHES. THE AUSTRALIAN MOTORISTS PARTY, HAS UNVEILED ITS HAS UNVEILED ITS CANDIDATES, AHEAD OF NEXT

MONTH'S TERRITORY ELECTIONS. THE A-M-P, HAS NAMED SIX CANDIDATES, WHO WILL RUN IN THE OCTOBER POLLS, TWO IN EACH OF THE TERRITORY'S THREE ELECTORATES. THE CANDIDATES, WERE ANNOUNCED YESTERDAY, WITH A NUMBER OF POLICIES ALREADY ON THE AGENDA, SUCH AS SUCH AS INCREASING ROAD SAFETY AROUND CANBERRA'S INCREASING ROAD SAFETY AROUND CANBERRA'S SCHOOLS.

THE A-C-T PLANNING AND LAND AUTHORITY, HAS REJECTED A REDEVELOPMENT PLAN FOR THE GIRALANG SHOPS. RESIDENTS WERE OPPOSING THE PLAN, TO BUILD TOWNHOUSES, AND NEW SHOPS AT THE CURRENT SITE IN CANBERRA'S NORTH. THE AUTHORITY SAYS, THE PLAN DOESN'T MEET PLANNING GUIDELINES, AND HAS RULED OUT A REDUCTION IN RETAIL SPACE AT THE SITE. TAKING A LOOK AT SPORT, AND THE RAIDERS' JOEL MONAGHAN, HAS BEEN AWARDED THE INAUGURAL MAL MENINGA MEDAL, FOR THE TEAM'S TWO THOUSAND AND EIGHT, BEST AND FAIREST PLAYER.

PLAYER. MONAGHAN, BEAT CAMPESE BY ONE VOTE... WITH DAVID MILNE FINISHING IN THIRD PLACE.

MEANWHILE, JOEL THOMPSON, WON THE COACHES AWARD, IN

AWARD, IN THE TOYOTA CUP SIDE. NOW HAVING A LOOK AT TODAY'S WEATHER... STARTING WITH THE SATELLITE - A WEAKENING TROUGH LOOKS SET TO CROSS THE REGION LATE TODAY AND MAY BRING TO CROSS THE REGION LATE TODAY AND MAY BRING SOME AND MAY BRING SOME SHOWERS TO THE REGION. LOOKING ACROSS THE NATION - A FINE AND MOSTLY SUNNY DAY DUBBO 20 THE EXPECTED TOP - AFTERNOON CLOUD FOR THE GONG ALSO HEADING FOR 20 DEGREES EARLY FROST THEN A FINE DAY FOR BATHURST 17 - A MOSTLY SUNNY DAY AHEAD FOR PERISHER SIX FROST THEN A FINE DAY WITH SOME HIGH CLOUD FOR MUDGEE 19 THE TOP - RAIN DEVELOPING FOR THREDBO LOOKING AHEAD - TOMORROW - THERE'S THE CHANCE OF A SHOWER OR THUNDERSTORM. SATURDAY - SHOULD BE MOSTLY FINE. AND WE'LL HAVE A WINDY DAY, WITH RAIN DEVELOPING ON SUNDAY. (NO SCRIPT NEEDED HERE)

This program is captioned live.

This is Ten's Early News.

Today's top stories. .

Not interested - Peter Costello

ends speculation that he will

challenge for the Liberal Party leadership, while blaming John

Howard for the Coalition's election loss. The loss.

The soap opera is not over in NSW,

as the new Police Minister resigns over lewd, drunken behaviour.

Scientists in Europe take the next

great step in their $10 billion

experiment to unlock the secrets of the universe.

And in finance news, US investment jiepbtd Lehman Brothers announces

an emergency plan to avoid collapse. an emergency plan to avoid collapse.

First, after months of speculation,

Peter Costello has finally broken

his silence on the Liberal

leadership and declared he is not

interested in the top Geelong Cup.

The -- job. The former treasurer

says he plans to stay on as a

backbencher until he's ready to G

He'd been touted as a possible

saviour for the Liberal Party but

Peter Costello has no aspirations

for the top job. Announcing plans to serve out his to serve out his time in Parliament

as a backbencher. Speaking to

Fairfax newspapers, Mr Costello

says he supports current leader Brendan

Brendan Nelson, despite his dismal

polling figures. His colleagues are

disappointed, but not surprised.

I'm disappointed for our one, for

our party. I'm most of all

disappointed for Peter. Mr Costello

says he's looking at options in

business and would leave Parliament

when it suited him.

when it suited him. I think he will

live forever with this haunting

sense of what might have been.

Dropping bombshells before the

launch of his memoirs, the member

for Higgins has blamed John Howard's

Howard's refusal to stand down for

the Coalition's election loss. He

claims Mr Howard's wife Janette

persuaded him to stay on as PM

even though his colleagues wanted him gone.

him gone.

The NSW Premier, Nathan Rees, has

been rocked by revelations that one

of his ministers simulated a sex

act on a colleague. Police Minister

Matt Brown has been forced to quit

in disgrace after admitting to the incident, which happened following a

a late inform night sitting of State

Parliament three months ago. A

witness has told the 'Australian'

newspaper Mr Brown stripped down to his underpants and his underpants and performed a

suggestive act on Labor MP Noreen

Hay. Mr Brown says he deeply

regrets the incident and any

embarrassment it has caused.

Police say two people have been

murdered and their bodies left

inside a burning house in Canberra.

Fire crews were called to the home

around 10:30 last night. A

35-year-old man has been arrested

more on that story as it comes to hand.

Victoria's controversial abortion bill has

bill has cleared its first major

hurdle passing a conscience vote in the hurdle passing a conscience vo

the lower house. The often

emotional debate on amendments to

the bill continued well into the

early hours of the morning.

Discussion will resume today and a

final vote will be taken before the

bill proceeds to the Upper House.

The legislation decriminalises

abortion up to 24 weeks of pregnancy.

Poorly educated parents are more than twice as than twice as likely to have fat

children according to a new study.

It's found obesity rates in the

lowest societies yeo economic

groups have grown at almost triple

the rate in the highest group. A leading Government researcher says leading

the Government needs to tackle

causes rather than blame and shame

to tackle obesity.

Scientists hope they're a step closer to understanding the Scientists hope they're a step

universe after the start of the

world's biggest and most expensive

experiment. They're recreating the Big Bang by smashing particles

light. together at almost the speed of

After a decade building the world's

biggest atom-smasher, they could

only pray, or whatever scientists

do when they're worried that ?5

billion worth of machinery might

very publicly not work. They were

trying to send the first beam of

subatomic particles around this

circular track, 17 miles long. Just

before 9:30 came the signal they

wanted - two blobs on a screen as

second time. the beam passed the start for the

It's the first time the whole machine has worked together as one

machine. It really is there. We can...

can... oh, it's fantastic! The LHC is essentially is essentially a circular tunnel 17

miles long and 300 feet underground.

The really clever stuff is inside.

In this tube, subatomic particles

called protons speed around the

circuit. Powerful supermagnets pull

them round, faster and faster, 11,000 laps a second.

Two beams travelling in opposite directions are steered into a

collision a collision that hasn't

happened since the first billionth of a second of the Big of a second of the Big Bang.

Well, it might be a little easier

to get your head around the

Socceroos victory this morning.

They've secured all three points in their opening second-round

qualifier against Uzbekistan in

Scott Chipperfield was Tashkent. A 26-minute header from

Scott Chipperfield was the winning goal. Australia won 1-0.

COMMENTATOR: Chipperfield! It's a

goal for Australia. 26 minutes

played. The perfect centre. And

Scott Chipperfield with the perfect header and the perfect start for the Socceroos.

It might have been a double because

just before half-time Mark

Bresciano squandered a one-on-one chance.

Doesn't matter. A win is a win.

Rugby league player Greg Inglis has revealed he

revealed he knocked back an offer

of $1 million a season and decided

to stay with the Melbourne Storm.

He signed, in fact, a 4-year deal turning

of European rugby union. of turning his back on the big bucks

The handshake that sealed the deal, made double the money overseas. Greg Inglis revealing he could have over a mill a season, I could have earned that offer. but I didn't want to take to be around this bunch of people. I love it down here and want outside of Melbourne The money available than what Greg will receive here would be far greater for the long-term future. but he's made a sacrifice a season. He'll make close to $500,000 he was set to join Inglis admitting he talked up fears Sonny Bill Williams in French rugby Inglis admitting he talked up fears Sonny Bill Williams in French rugby to improve his bargaining power. Just playing little games with you blokes in the media. Bloody worked a treat too, I reckon. Mate, if I went over to France, to be honest, I'd be back here in two weeks. I don't like change too much. And the Brisbane Broncos have gone into camp in Sydney ahead of tomorrow night's showdown with the Roosters. a little bit earlier Kinda get us together

and kinda gelling a little bit. and get us staying as a team with the team bus. And quickly acquainting themselves (HORN BLARES) Leanne West, Ten News. North Melbourne's Jess North Melbourne's Jess Sinclair has

announced his retirement after 192

AFL games. The running defender says

the club told him he would have limited opportunities next season.

Mentally, it's not good for you,

guarantees and, and Eddie gave me no

guarantees next year that, if I was

to go on, that I'd get a game. So

you probably just don't need that

stress in your life. The

50 games 30-year-old started his career with

50 games at Fremantle and then he moved to the Kangaroos.

Time for the weekly snow report.

Joining us live is Susie Diver in Thredbo. Welcome to the show. Thank

you, Bill. Lovely to be here. What

a beautiful day we've got here in

the mountains. This spring has been

an exceptional run around all

Australian reports. We've had great snow conditions under the boards. snow conditions under the boards.

You can tell when we've got

beautiful weather because everyone in

in the bar has panda eyes and you

know where everybody has been. The

average base across all Australian

resorts is pretty close to a metre so

so the run-out to season 2008 is

looking good. All Australian resorts have typically spring-like

cover. There's a firm base early

but it softens during the day.

The outlook for the next few days -

showers running into the weekend.

but Fine for Saturday. Rain on Sunday

but snow showers probably 2cm to

5cm each day on Monday and Tuesday.

If you're heading to the mountains,

pack for all seasons really.

Thank you, Susie. Thanks, Bill!

Let's talk finance now. Jacqui, Lehman Brothers, the investment giant, they're in a giant, they're in a bit of strife

taking drastic action.

Absolutely Bill. It's planning to

sell a majority stake in its money,

management unit. It says it may

consider selling off the entire

company. Lehman lost nearly $4

billion last quarter and shares

have plunged more than 80% this year.

Lehman Brothers lifted the lid on

its financial troubles. The

nation's fourth largest investment

bank is expecting a nearly $4

billion loss in the third quarter

and it's unloading assets to stay alive.

They have pretty close to $65

billion to $70 billion of assets

that need to be turned into cash.

If they continue doing that, I

think they're going to survive. The

company will sell a majority of its

prized investment management

business and will spin off $2 billion in commercial mortgage assets by early next year. billion in commercial mortgage

Lehman Brothers is more than 150

years old. It survived two world

wars and the Great Depression, but

today its chief executive said this

is the toughest period in the

firm's history. is the toughest period in the

That's because of the company's bad

bets in the mortgage market, which

have caused its stock to plunge by

90% since last year. Just two days

ago, the Government ago, the Government seized

mortgage giants Fannie may and

Freddie McAs the companies started

to crater. Wall Street is

wondering whether the Feds would be

willing to come to the rescue again

itself. and hoping the company can save

The price of oil has rebounded

overnight following a decision by

OPEC to cut crude production. In a

surprise move, the oil cartel

announced that production would be

slashed by 500,000 barrels a day.

slashed by 500,000 barrels a day.

I don't think this will affect, you

know, the consumers, in any way, because,

because, first of all, there is an

oversupply. Everybody agrees with

that. There is - stock is very high.

The cut in production is to start immediately.

Briefly in other finance news: Consumer sentiment rose 7% Consumer sentiment rose 7%

according to the Westpac-Melbourne

Institute's September survey.

Petsec Australian-based miners BHP and

Petsec Energy have evacuated staff

and shut down production in the

Gulf of Mexico as Hurricane Ike

bears down on the region.

The vast majority of Seven Network

investors have arofd a company plan to

to buy back 20% of its shared.

Well, after an early rally, US stocks have stocks

stocks have ended only modestly firmer.

In Asia, the Hang Seng tumbled 500

points. Oil is trieding at $102 a

barrel and gold is fetching $776 US

To currencies. an ounce.

One Aussie dollar buys 80 US cents One Aussie dollar buys 80 US cents

and 57 euro cents. Our market

shared 87 points yesterday. The SPI shared 87 points yesterday. The SPI

today. is up 35 points. That's finance for

Let's see how the day is weatherwise. Let's see how the day is shaping

degrees. Possible shower for Melbourne. 20

Recapping the top stories: Peter

Peter Costello ends the guessing

game over the Liberal leadership, game over the Liberal leadership, declaring he is not interested in

the top job.

Another scandal hits the NSW

Government. A newly appointed

minister forced to resign over lewd, drunken behaviour.

I'm Bill woods. I'll be back at

I'm Bill woods. I'll be back at 11:00.

I'm Jacqueline Maddock. Have a great day. great day. Supertext Captions

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