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(generated from captions) If our nation continues on this

course, the economic damage will be

painful and lasting.

a Brisbane holiday-maker feared The search resumes this morning for

Queensland. taken by a crocodile in Far North

And about 170 people killed in a

stampede of pilgrims at a Hindu temple in northern India.

First, US President George W. Bush

has warned Congress must take urge

end and decisive action after it

rejected his $700 billion plan to

bail out Wall Street.

But traders seem optimistic about

a breakthrough with American stocks rebounding overnight. President Bush wants lawmakers to

get back to work on a bail-out bill

and fast. For the financial

security of every American,

Congress must act. Mr Bush talked

by phone with both presidential candidates this morning and

administration officials are

talking with lawmakers, looking for

a way to move forward after the

defeat of the $700 billion rescue

plan. We're in an urgent situation

and the consequences will grow

worse each day if we do not act.

Leaders from both parties are

blaming each other for the bill's

failure but both sides say they

want to pass a plan that

want to pass a plan that restores

confidence in America's economy.

We're committed to finding a

resolution to this and I think by

week's end we'll have a solution to

this problem. There's no excuse for

not acting in the way we did

yesterday. The markets and

investors will have to wait for a

new bail-out plan. Lawmakers are

scheduled to return to work

Thursday. The Senate in session

working on a rescue bill.

They're looking to change the

measure slightly to gain more

parties. support from lawmakers in both

With the latest from the US, we're

Nicole Strahan. joined by Ten's US bureau chief,

Nicole, there's been a bit of a

rebound on the market, you could

say. Good morning, Frank. Yes.

After yesterday's devastating

losses, the market has rallied

somewhat on Wall Street today. Now,

the latest figures we have is that

the Dow Jones is up 491 points,

around 4.7%. Technology stocks on

the NASDAQ are up 98 points. That's

4.9%. Quite a different story to

the fall of nearly 778 points,

Frank, that we saw yesterday. That

was the biggest one day point fall

in the market's history, certainly

some way to go but certainly a

better day on Wall Street today.

Now, Nicole, as we've heard, George

Bush has warned there'll be lasting

economic damage if a bail-out plan

isn't passed. How much pressure is

on the Congress to get the package

through this week? That's the

message that George W Bush has been

sending to the American public and

to cope gressmen and women for the

past week or so.

Now, there is a lot of pressure on

the members of the houfb and the

Senate to get some kind of package

passed but there is also pressure

on them from the American people. Remember they're voters. Americans

are increasingly angry that

taxpayers' money could be used to

prop up Wall Street "fat cats" and

corporations as it's been described.

They're angry their money could be

put at risk and they don't see why

it should be in many instances.

Nevertheless, there's been

speculation over the past 24 hours

that the Senate, in fact, could go

first in voting for some kind of

revised package and then put that

to the House of Representatives.

The theory is that, if the Senate

pass some kind of bill, that would

Representatives put pressure on the House of

Representatives to follow suit and

do that very quickly. Whatever, it will continuing to be an interesting week.

Back home and the Prime Minister is urging

urging investors not to panic,

despite the market turbulence.

There's speculation interest rates

could drop as early as next week.

But again the Treasurer has warned

there's no guarantee that banks

will pass on the reduction.

A grim-looking Prime Minister and

Treasurer tried to prevent a repeat

of the market meltdown by reassuring investors. The

developments overnight in the

United States do not affect the

fundamental stability of the

Australian banking system. We have

first-class regular lators and a

strong economic position, a strong

Budget surplus. Both sides of

politics uniting, trying to instil

confidence by declaring our economy

can weather the crisis. I know, we

all know, in this storm, in this

financial storm, we are going to

get wet. We will get wet but we

will not sink.

At the close of the market, we

hadn't quite sunk but the decks

were awash with losses. The local

market plunged 4%, over 200 points,

one of our worst days on record.

Treasurer Wayne Swan flies into the

heart of the global financial storm

when he arrives in America next

week. He'll meet with the

International Monetary Fund and the

World Bank, no doubt hoping, by

then, a deal's been done on the US

bail-out. Regardless, financial

markets believe the Reserve Bank

will try to boost Australia's

economy by cutting rates by 0.5%

Reserve when it meets next week. If the

Reserve does cut rates by 0.5% t

years. will be the biggest fall in seven

Esther will be back shortly with

markets. another update from the financial

Moving on. In other news, the

search resumes this morning for

holiday-maker feared taken by a

crocodile in north Queensland. 62-year-old Arthur Booker went

missing after going to check on a

crab pot at a camp site in Cooktown.

At the scene, authorities found

distinctive crocodile slide marks

and the man's digital camera thrown

on the riverbank. Locals fear a

six-metre crocodile, known as

tourist. Charlie, may have snatched the

Perth school students caught up in

the Thailand lightning tragedy are

due to arrive home today. The teenagers have waited almost three days

days for a flight back to Australia from Bangkok because they wanted to

travel home together. Their teacher,

Greg Crombie, was hit and killed by

lightning during a visit to a

waterfall on Saturday. Youth worker

Thomas McGuinness was critically

injured and died later in hospital.

Three Thai girls were also killed.

DNA testing has allowed scientists

to identify an Australian soldier

whose remains were found in an

unmarked grave in Belgium last year.

Private George Storey's relatives

travelled from Australia to the old

head stone. Western Front to rededicate his

Danielle Isdale is there.

It's rather rainy and misty here in

Belgium and the ground is muddy,

just as it was 91 years ago today

when too many Australian diggers

lost their lives fighting in battle

here. One of those soldiers was

Private George Storey and today his

family members have made the

journey from Australia to be here

for a rededication ceremony, to

change his anonymous head stone

from reading 'known unto God' to

bearing his own name. It means

everything to me. Up until now,

he's just been a name. Nobody knew

who he was or where he was. Private

Storey's remains, along with four

other sets of bones, were found

here by construction last year and

the men were reburied in a special

ceremony. Two of those men were

identified using the DNA samples

of their female descendants and now

a third, George Storey, has been

identified in the same manner but

using samples from his male

descendents. This is a journey that

his family members were only too

happy to make to see him finally

laid to rest with a known grave

alongside those he fought and died with.

At least 168 people have been

killed in a stampede at a Hindu

temple in northern India. 12,000

pilgrims had gathered at the temple

near the historic town of Jodhpur

to mark the start of a Hindu

festival. The stampede occurred

when false rumours of a bomb spread

panic through the crowds. Dozens of

injured people were lying on the

sidewalk and many more have since been taken to hospital.

Australian captain Ricky Ponting

says his players are comfortable

with the level of security being

provided in India, despite an increasing number of bomb blasts across the country.

Several people were killed and

dizzys injured in two more recent explosions. The devastation following yet more deadly explosions, these latest blasts coming after a wave of attacks over the past months in several Indian cities. Ponting says his team has to trust Australia's security advisers. Right at the moment they're comfortable with the level of security we're being provided with around India and I think most of the playing group is certainly comfortable with that as well, so all we can do as players is rely on the experts to let us know what's happening and keep us in touch and so far it's been pretty good. India's captain, Sachin Tendulkar, has also reassured Ponting

that his team will be safe. We've got full confidence that nothing bad will happen. This is our homeland so we should be free to move wherever and whenever we want, so I don't think there'll be security concerns. The first Test is scheduled for October 9 and, despite the concerns, Australia won't necessarily need to be at the top of their game to beat the Indians. Andrew Brown, Ten News.

Generally, if we play at a Generally, if we play at a level

somewhere near our best, it's been good enough to beat anyone that we've played against.

The boss of the NRL Match Review

Committee says suspended Melbourne

captain Cameron Smith is wrong to

suggest he's been made suggest he's been made a scapegoat

by the system. Smith has accused

match reviewers of focusing on his

incident and ignoring several

others, which were similar. Go through all of the incidents

charged over the last few years, we

compare and contrast. I have

absolutely every confidence in our

integrity. Smith will miss Sunday's

grand final against Manly.

Western Bulldogs midfielder Daniel

Cross has capped an outstanding

season by taking out the club's

Best and Fairest award. The

25-year-old was a clear winner,

rewarded by the Dogs coaching staff

for his hard running and prolific

ball-winning. In a surprise result,

Adam Cooney, the man voted by

umpires as the AFL's top player,

finishing the Brownlow, finished

second. Matthew Boyd was third.

Now we need to check the markets

and see how they're going with Esther.

Thanks, Frank. Wall Street has rall

yitd as investors scooped up shares battered in yesterday's record plunge.

In other finance news, ABC Learning

founder Eddy Groves has resigned.

He and his former wife, Le Nev,

have stepped down from the

company's board of company's board of management.

Trading in the company's shares

have been frozen since mid-August.

Rowan Webb will run the company

while it looks for a permanent CEO.

ASIC will maintain its 30-day ban

on all forms of short selling,

despite a similar ban in the US

expiring tomorrow. National

Australia Bank has warned it will

forced to spend an extra $400

million over the next five years to

insure against potential losses on

bad debts. Harvey Norman bad debts. Harvey Norman has

forecast a 20% drop in profits due to global economic turmoil and a

slump in retail spending. And home

lending is at 25-year lows.

Now for a look at the national

weather and for the rest of today:

Checking this morning's newspaper

front pages for you and the

'Courier-Mail' has more on an

enormous six-metre crocodile

thought to have taken a man in Far

North Queensland.

'Business Day' says central banks

around the world are running out of

US dollars to pump into financial

markets to ease liquidity concerns.

And the 'Daily Telegraph' reports

as Sydney gets behind Manly ahead

of the NRL grand final, their

opponents, the Melbourne Storm, are

barely recognised in their own city.

What's making kids fat? Find out when the Early News returns. WOMAN: Protecting our environment is really important.

So it's great how Labor have secured over half of the ACT as protected nature reserves. MAN: That's for sure. And it's fantastic how Labor are behind solar energy options and environmental rebates. Yeah. That really makes it easier for us to do our bit for the environment. And taking measures to secure our water supply and combat climate change. That's important. VOICEOVER: ACT Labor:

WOMAN 1: Labor has already reduced class sizes to 21 in the important early years. WOMAN 2: Yeah, and now they're reducing average class sizes to 21

for every single year of school! That's great!

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

Mearch stocks rebound after that trillion-dollar market crash, trillion-dollar market crash, the

recovery coming as President Bush

warns economic damage will be

painful and lasting if Congress

fails to pass a bail-out bill.

Fears that a 5.5m crocodile may

have snatched a holiday-maker from

a riverside camp site in Far North Queensland.

In sport, the party hits a speed

bump for Hawthorn with two of the winning Hawks booked into winning Hawks booked into hospital.

First, there's been a rally on Wall

Street overnight after the record

trillion-dollar market crash.

Traders seep optimistic Congress

will eventually pass a bail-out

plan to revive the American economy.

Wall Street bounced back. Stocks

opened strong and held on to the

gains, but the markets still fell

far short of making back the

trillion dollars it lost Monday.

Investors grabbed stocks at bargain

prices. Financial and technology companies were the stand-outs.

The atmosphere on the floor of the

exchange is calmer today and

traders say Monday's dramatic

sell-off sent a clear message to Washington and they're hopeful

Congress will pass a rescue package

later this week.

The body language is a lot better. We're a

We're a long way from out of the

woods. These things don't clear up woods. These things don't clear up overnight.

The markets rallied, even as a key

interest rate that banks use to

lend to each other shot to a record.

That could make it even harder for

borrowers to get a variety of loans and to do business.

I need credit to survive because

I'm a small business owner so it's

hard to manoeuvre if you don't have

daily credit coming in. Most on

Wall Street believe the bail-out

Wall Street believe the bail-out

plan is the only way to get the

markets headed back in the right direction.

direction. And US president, George W Bush,

has described the economic

situation as urgent and warned the

crisis will only get worse unless

Congress takes action. President

Bush says lawmakers must put

political differences aside and

pass the bail-out bill or the

economic damage for Americans will be painful

be painful and also lasting. We're

facing a choice between action and

the real prospect of economic

hardship for millions of Americans. hardship for millions of Americans.

For the financial security of every American, Congress must American, Congress must act.

But debate on the bill won't resume

forality least another day, with

Congress on holidays. OK,

OK, let's go to Esther to see what's been

what's been happening on Wall

Street. Esther.

Thanks, Frank. US stocks rebounded

overnight giving investors some

relief. I'm joined by Juliette Saly

from CommSec. What's the latest

from New York? It was another

historic day after yesterday's

biggest points drop ever on the Dow.

It's overnight recorded one of its biggest rises ever.

It's jumped 485 points or 4.7% on

hopes a rescue plan will still be

hopes a rescue plan will still be

approved later this week. We've

also seen European share markets

rebound. London's FTSE and France's

CAC up 2% overnight. It was a blood

bath on the local market yesterday.

What can we expect today? Hopefully

we'll recoup around half the drop

we saw yesterday that saw our share

market plunge to a near 3-year low.

Banking stocks will be hot property

futures pointing to a gain of almost 3% on open.

Are you predicting drastic action

from the RBA next week? It will be

an 11th-hour decision. There is a

case building for an aggressive

rate cut if things on local markets

-- global markets worsen. That

would-be the Reserve Bank's way of

ensuring our banks pass on the love

by at least cutting rates by 0.25%.

If we see a rescue plan approved

later this week, the chaps of an

aggressive rate cut would weaken a

little bit, Esther. Thank you.

I'll be back shortly, Frank, with

some more finance news.

Thank you. Now

Now to other news. The search

resumes this morning for a Brisbane

holiday-maker feared taken by a

crocodile in north Queensland. 62-year-old Arthur Booker went

missing after going to check on a

crab pot at a camp site at Cooktown.

At the scene, authorities found

distinctive crocodile slide marks

and the man's digital camera thrown

on the riverbank. Locals fear a

six-metre crocodile known as

Charlie may have snatched the tourist.

More than 50 residents of a

Melbourne nursing home are being

forced to leave today after a

Federal Government audit uncovered

Federal Government audit uncovered

serious hiej gene and safety

breaches. Relatives attended a

meeting overnight, devastated a

solution could not be found for them. It

It is unbelievable. How can they

only give them one week? It's just

been such a family, a caring place

and a family.

A last-minute appeal by the

operator failed with three of its

centres now in the hands of receivers.

receivers.

An emotional ceremony has been held

in Belgium for an Australian digger

killed in World War I. killed in World War I. Private

George Storey's remains were buried

in a war cemetery near Ypres last

October. But his identity was

unknown. DNA tests last month

solved the mystery. However, a new

gravestone bearing his name has now

been unveiled. It means everything

to me. Up until now he's just been

a name. Nobody knew who he was,

a name. Nobody knew who he was,

where he was. Private Storey was

just 21 when he died in the battle

of Polygon Wood exactly 91 years ago.

A landmark study has found a lack

of sleep is making Australian kids

fat. New research shows children

are starved of shut-eye through

the week, forcing them to catch up

on weekends. Experts say kids with roller-coaster sleeping patterns

are more likely to become

are more likely to become

overweight or obese and have shorter attention spans. Researchers are calling for a

national strategy to address the problem.

Hawthorn's grand final party has

hit another speed hump with two

star players booked in for surgery.

Lance Franklin will have a shoulder

operation today while Trent Croad could

could miss the start of next season

with a serious foot injury. It's a famous right arm, but now the shoulder will go under the knife. Buddy Franklin's premiership celebrations cut short because of an injury he's carried through most of the season. I'll be in hospital for the next two or three days. From there, going overseas to get out of Melbourne for a little while. The key forward to join his key defender in hospital - Trent Croad will have foot surgery next Monday

after waiting the weekend for the swelling to go down. Been a bit disappointing -

I've had to sit in a hospital room for a couple of days but the boys have been ringing me and getting in there as much as they can. Croad was hospitalised on Saturday night, his foot injury worse than first thought. He's not only fractured the midfoot but also suffered a severe dislocation, meaning he could miss the start to next season. Depending on the success of how it is, then I'll know, but there have been players who have had the same operation and have come back really strong so they're all good.

The Cameron Smith suspension saga

continues ahead of the NRL grand

final. The suspended Melbourne

skipper has disappointed the

judiciary by claiming he was

singled out but he's made a surprise admission. Cameron Smith says he's accepted

that he won't be playing in

Sunday's grand final against Manly.

But he still wants eants on why he

was charged with a grapple tackle and and others weren't.

There has been tackles, you know,

two weeks leading up to that game,

where they were quite similar to

mine and nothing was done about it.

But the league's match review boss

says Smith is wrong. I think that

there are people within the system

at the moment that are hurting from those accusations. Reputation is everything in this game.

And when people attack your

credibility and integrity, there's a problem.

Meantime, one of the game's greats

say the Storm should just get on

with the business of preparing for a a grand final.

It's been a bit of whinging going

on. I'm not too happy about that. I

mean what goes on on the field

should stay behind closed doors.

It should be - tell the people to

forget about it.

To Esther now for the rest of the

day's finance news.

ASIC will maintain its 30-day ban

on all forms of short selling.

There were reports the corporate regulator would lift the ban due

to pressure from market players. A similar ban in the

similar ban in the US is being

lifted tomorrow but ASIC says the

drastic measure will remain in

place with the hedge fund industry

claiming the ban has done little to

stabilise the market. Eddy Groves

has resigned from ABC Learning.

Australian employer confidence has

hit a 5-year low and the Reserve

Bank will today reveal its

commodity price index.

S and

S and now for a look at the national weather.

Dozens trampled in a stampede in India. That's next. WOMAN 1: Gee, Labor are doing good things in education. WOMAN 2: I know.

My daughter's class size has been reduced to just 21! And Labor are funding quality teaching so our kids are taught by the best. That's gotta be good for learning. Yeah, and Labor are investing in early childhood education and building new state-of-the-art schools in high-demand areas.

They're also refurbishing and putting new IT equipment into every school. Hey, that's great. VOICEOVER: ACT Labor: VOICEOVER: The Liberals - Brendan Smyth dumped as leader. Bill Stefaniak, dumped as leader. Richard Mulcahy, defected, saying, it doesn't matter who leads the Liberals - they're unfit to govern. They don't trust each other. Why should you?

You're watching Ten's Early News.

Today's top stories:

Walking tall on Wall Street - a

timely rebound as President Bush

issues a dire warning to Congress

to pass his bail-out package.

And if our nation continues on this

course, the economic damage will be painful and lasting.

The search to resume this morning for a Brisbane holiday-maker

feared taken by a crocodile in Far North Queensland.

And an emotional ceremony held And an emotional ceremony held in

Belgium for an Australian soldier

killed in World War I whose remains were only recently identified.

US President, George W Bush, has

warned Congress must take action

and make it urgent and decisive

after it rejected his $700 billion

plan to bail out Wall Street. But

traders seem optimistic about a

breakthrough with American stocks

rebounding overnight.

Lawmakers scrambling sto to salvage

the $700 billion financial rescue

package got a fresh warning from

President Bush. If our nation

continues on this course, the

economic damage will be painful and

lasting. After the bill's stunning

failure on the house floor, the

presidential candidates are also on

the case, prodding their colleagues

from the campaign trail. To the Democrats and Republicans who

opposed this plan yesterday, I say,

"Step town the plate. Do what's

right for this country." We cannot

allow a crisis in our financial

system to become a

system to become a crisis in

confidence. Both John McCain and

Barack Obama spoke with Barack Obama spoke with President

Bush on the phone today offering

ideas on how to get House

Republicans on board. They're both

suggesting adding an increase in

the federal deposit insurance limit

from $100,000 to $250,000.

Conservatives favour the move as a

way to help small business owners

and avoid runs on banks. House

leader need to persuade about a

dozen members to switch sides. The next opportunity comes Thursday

when they return to Capitol Hill after a break.

Bach home, the Prime Minister Bach home, the Prime Minister is

urging investors not to panic, despite the market turbulence. There's speculation interest rates

could drop as early as next week,

but, again, the Treasurer has

warned there's no guarantee that

banks will pass on the reduction.

A grim-looking Prime Minister and

Treasurer tried to prevent a repeat

of the Wall Street market meltdown

by reassuring investors.

In developments overnight in the

United States, they do not affect

the fundamental stability of the

Australian banking system. We have

first-class regulators and a

strong economic position. Both sides of politics uniting, trying

trying to standstill confidence by declaring our economy can weather the crisis. I

I know, we all know, in this storm,

in this financial storm, we are

going to get wet. We will get wet but we will not sink.

At the close of the market, we

hadn't quite sunk, but the decks

were awash with losses. The local

market plunging 4%, over 200

points, one of our worst days on record.

Treasurer Wayne Swan flies into the

heart of the global financial storm

when he arrives in America next

week. He'll meet with the

International Monetary Fund and the

World Bank, no doubt hoping by then

a deal has been done on the US bail-out. Regardless, the financial markets

believe the Reserve Bank will try

to boost Australia's economy by

cutting rates by 0.5% when it meets

next week. If the Reserve does cut

rates by 0.5%, it will be the

biggest fall in seven years.

And with an update on the financial

marbgtsz, I'm joined now by Alexis

Christoforous in morning. With it

just about closed, what's the

latest from Wall Street, Alexis?

Well, Frank, the headline today - a

big bounce back here on Wall Street

after that record slide yesterday.

A much different mood here inside

the New York Stock Exchange. Yesterday's chaotic panic selling

replaced by a calmness. There was

a lot more cool heads prevailing,

if you will, and traders also

pointed out it was light trading

volume today. We have a Jewish holiday so fewer participants in

the market but the market showed

its resilience and banking stocks actually led the charge higher

today. Now, what about oil? Has it

rebounded? Did actually did quite a

bit. You know, oil had its second

biggest tumble yesterday ever, town

about $10. Some people moving back

into oil. Oil prices have been

under pressure, though, because of the feeling that this global

recession, if we are indeed recession, if we are indeed going

to be in one, will curtail demand.

People are pulling out of oil. We saw

saw gold pull back a little bit as

people put their faith, at least

for today, back into US equities. I

want to mention, though, that some

traders told me they're now pinning

their hopes on an interest rate cut

from the Federal Reserve, possibly

before the October 29 meeting. We

could be in for an emergency rate

cut here. There are hopes the

bail-out plan will be done by the

end of the week. Thank you very much.

And, of course, Esther will return shortly

shortly with another update from the financial markets.

In other news, the search resumes

this morning for a Brisbane

holiday-maker feared taken by a

crocodile in north Queensland.

62-year-old Arthur Booker went

missing after going to check on a

crab pot at a camp site at Cooktown.

At the scene, authorities found

distinctive crocodile slide marks

and the man's digital camera thrown

on the riverbank. Locals fear a six-metre crocodile, known as Charlie, pictured here back in 2003,

may have snatched the tourist.

Perth school students caught up in

the Thailand lightning tragedy are due to arrive home today.

due to arrive home today. The teenagers have waited almost three

days for a flight back to Australia

from Bangkok because they wanted to

travel home together. Their teacher,

Greg Crombie was hit and killed by

lightning during a visit to a

waterfall on Saturday. Youth worker

Thomas McGuinness was critically

injured and died later in hospital.

Three Thai girls were also killed.

In another shocking case of animal

cruelty, a dog has been set on fire

in a park in Sydney's west. The

male terrier cross was found badly

burned at Yenora overnight and had

to be put down.

His claws are burned all the way

back to the bone. His tongue and

mouth are horrifically burned and

even down to his eyes are even down to his eyes are badly burned. burned.

Another dog was found hanging from

a tree by its leash in a separate incident yesterday morning.

An emotional ceremony has been held

in Belgium for an Australian digger

killed in World War I. Private

George Storey's remains were buried

in a war cemetery near Ypres last October. Bum his identity was unknown. DNA tests last month

solved the mystery and a new

gravestone bearing his name has now

been unveiled. Well, it means

everything to me because, um until

now, he's just been a name, because

nobody knew who he was, where he

was. Private Storey was just 21

when he died in the battle of

Polygon Wood exactly 91 years ago.

At least 168 people have been

killed in a stampede at a Hindu

temple in northern India. 12,000

pilgrims had gathered at the temple

near the historic town of Jodhpur

to mark the start of a Hindu

festival. The stampede occurred

when false rumours of a bomb spread

panic through the crowds. Dozens of injured people were lying on the

sidewalk and many more have been taken to hospital. Meantime,

Meantime, Australian captain Ricky

Ponting says he's comfortable with the levelful security being

provided in India despite more

deaths from recent bomb blasts.

With the first Test scheduled to

start in Bangalore on October 9,

Ponting says the team must trust

its security advisers. All we can

do as players is rely on the

experts to letd us know what's

happening and keep us in touch and

so far it's been pretty good.

Indian legend Sachin Tendulkar has

also assured Ponting's men that they

they will remain safe in India.

The boss of the NRL's Match Review

Committee says suspended Melbourne

captain Cameron Smith is wrong to complain

complain that he's been made a

scapegoat by the system. Smith

accusing match reviewers of

singling out his tackle and

ignoring others of a similar nature.

We go through all of the incidents that have been charged over the

last few years. We compare and

contrast. I have absolutely

contrast. I have absolutely every

confidence in our integrity. Smith

will miss Sunday's grand final against Manly.

Now for another check of the

finance markets with Esther. Thanks, Frank.

Wall Street's rebounding after

yesterday's $1.47 trillion plunge.

The Dow Jones is currently up about

4% and the NASDAQ is 98 points here.

In other finance news, ABC Learning

founder Eddy Groves has resigned.

He and his former wife, Le Nev,

have stepped down from the board and management.

Trading in the company's shares

has been frozen since mid-August.

has been frozen since mid-August. Former Colorado boss Rowan Webb

will run the company while it looks

for a permanent CEO. Checking this morning's newspaper headlines.

The 'Herald Sun' says investors headlines.

around the world remain nervous

after panic selling on financial

off global wealth. markets wiped trillions of dollars

The 'Financial Review' reports on

the shock waves felt around the

world when the multibillion

bail-out plan put forward by the

White House was scuttled by US

Congress.

And the 'Age' says convicted police

killer, Bandali Debs,

killer, Bandali Debs, has been

13 years ago. linked to a fourth murder in Sydney

Residents forced out of their

nursing home. All the details when

we return. NELSON. GOOD MORNING, I'M FIONA SNOWY MOUNTAINS, ARE BEING FIRST UP, RESIDENTS IN THE ON AN R-T-A PLAN, FOR SNOW ASKED FOR THEIR OPINIONS,

IN THE REGION. TYRE AND CHAIN REGULATION WHAN, WANTS TO HEAR FROM MEMBER FOR MONARO, STEVE THE PLAN, WHICH WOULD MAKE RESIDENTS, IN REGARDS TO TO TRAVEL ON SNOW OR ICE IN IT ILLEGAL FOR ANY VEHICLE THE REGION WITHOUT CHAINS. HAVE CRITICISED THE FOUR WHEEL DRIVE OWNERS, PROPOSAL. HAS BEEN NAMED AUSTRALIA'S CANBERRA'S PENNY SACKETT, NEW CHIEF SCIENTIST. DIRECTOR OF THE A-N-U'S THE ASTRONOMER, AND FORMER RESEARCH SCHOOL ,WILL TAKE ASTRONOMY AND ASTRO-PHYSICS

PEACOCK. OVER FROM DOCTOR JIM KIM CARR, MADE THE FEDERAL SCIENCE MINISTER PROFESSOR SACKETT WILL BE ANNOUNCEMENT, AND SAYS GOVERNMENT IN HER POSITION. ESPECIALLY VALUABLE TO THE BELCONNEN POLICE STATION, PLANS TO UPGRADE THE HAVE BEEN RELEASED. MINISTER, SIMON CORBELL, A-C-T EMERGENCY SERVICES DOLLAR PLANS YESTERDAY. UNVEILED THE 17 MILLION

COMMITTED 17 - POINT - SIX THE A-C-T GOVERNMENT, HAS

NEXT FOUR YEARS, TO DESIGN MILLION DOLLARS, OVER THE AND CONSTRUCT A NEW POLICE FACILITY IN BELCONNEN.

BELCONNEN. TO SPORT, AND THE CAPITALS, ARE BUSY PREPARING FOR WITH BENDIGO ON SATURDAY... THEIR FIRST ROUND CLASH SIDELINED FOR THE MATCH. MICHAELA DALGLEISH WILL BE RECOVERING FROM A BACK THE GUARD, IS STILL KEEP HER OFF THE COURT, FOR INJURY, WHICH LOOKS SET TO AGAINST BULLEEN ON SUNDAY THE CAPS SECOND MATCH BULLEEN ON SUNDAY AS WELL. WEATHER... NOW CHECKING TODAY'S

SOUTHEAST AUSTRALIA WILL A HIGH PRESSURE SYSTEM OVER THE TASMAN SEA OVER THE MOVE SLOWLY EASTWARD INTO NEXT FEW DAYS. FINE AND SUNNY IN CANBERRA LOOKING ACROSS THE NATION - - SHOWERS INCREASING IN SYDNEY - WINDY IN ADELAIDE PERTH SUNNY WITH AN EXPECTED TOP CLOSER TO HOME - MOSTLY TOP FOR ORANGE - BEGA CAN OF 27 FOR DUBBO - 19 THE AND A TOP OF 25 CAN EXPECT CLOUDY PERIODS BOWRAL WITH 22 DEGREES - MOSTLY CLEAR SKIES FOR

FOR BATEMANS BAY SOME CLOUDS ABOUT AND 24 HEADING FOR A TOP OF 24 - MOSTLY SUNNY FOR MUDGEE 24 - CLOUD INCREASING AND MUDGEE HEADING FOR A TOP OF 10 THE TOP FOR PERISHER SHOULD BE FINE AND SUNNY.( LOOKING AHEAD - TOMORROW - 8 26) OF LATE A SHOWER OR STORM.( FRIDAY - THERE'S THE CHANCE 10 26) CHANCE OF A THUNDERSTORM. SATURDAY - WET WITH THE OF A THUNDERSTORM. (11 20)

is really important. WOMAN: Protecting our environment secured over half of the ACT So it's great how Labor have

as protected nature reserves. MAN: That's for sure. are behind solar energy options And it's fantastic how Labor and environmental rebates. Yeah. to do our bit for the environment. That really makes it easier for us to secure our water supply And taking measures and combat climate change. That's important. VOICEOVER: ACT Labor:

reduced class sizes to 21 WOMAN 1: Labor has already in the important early years. reducing average class sizes to 21 WOMAN 2: Yeah, and now they're for every single year of school! That's great!

This program is captioned live.

is Ten's Early News. This This program is captioned live.

Today's top stories:

They're back - US stocks rebound

that trillion-dollar market crash

as President Bush warns the

economic damage will be painful and

lasting if Congress fails to pass a bail-out bill.

Fear as six-metre crocodile may

have snatched a holiday-maker from

a riverside camp site in north Queensland.

Queensland.

In sport the party hits a speed

bump for grand final winners

Hawthorn with now two of the winning Hawks booked into hospital.

First, there's been a rally on Wall Street overnight after the record

crash. Traders seem optimistic

that Congress will eventually pass

a bail-out plan to revive the

American economy.

Wall Street bounced back.

Wall Street bounced back. Stocks

opened strong and held on to the

gains but the markets still fell

far short of making back the $1

trillion it lost Monday. Investors

grabbed stocks at bargain prices.

Financial and technology companies

were the stand-outs.

The atmosphere on the floor of the

exchange is much calmer today and

traders say Monday's dramatic

sell-off sent a clear message to Washington and they're hopeful Congress will pass a

Congress will pass a rescue package

later this week. The body language,

as you can see around us, is a lot

better. We're a long way from out

of the woods. These things don't

clear up overnight. Markets rallied,

even as a key interest rate that

banks use to lend to each other

shot to a record. That could make

it even harder for borrowers to get

a variety of loans and to do

business. I need credit to survive, because I'm a small business owner.

So it's hard to manoeuvre

So it's hard to manoeuvre if you

don't have daily credit coming in.

Most on Wall Street believe the

bail-out plan is the only way to

right direction. get the markets headed back in the

Meantime, US President George W

Bush has described the economic

situation as urgent and warned the

Congress takes action. crisis will only get worse unless

President Bush says lawmakers must

put political differences

put political differences aside and

pass the bail-out bill or the

economic damage for Americans will be painful and lasting. We're

We're facing a choice between

action and the real prospect of economic

economic hardship for millions of Americans.

For the financial security of every

American, Congress must act.

But debate on the bill won't resume

for at least another day, with

for at least another day, with

Congress on holidays. Here's as her

now with a look at what's happening

on the marblgts. Esther. Thanks,

Frank. Wall Street has rebounded

overnight. With details I'm joined

by Juliette Saly from CommSec.

What's the latest from New York?

It was another action-packed night

after yesterday's disastrous slump.

We saw US stocks take their

We saw US stocks take their biggest

gains in five years on hopes that a rescue plan will be approved later

this week. Wall Street won't be

glad to see the back of September.

As expected, it will also a blood

bath on the local market yesterday.

What can we expect today? Well,

hopefully, we'll recoup about half

of that 4.3% loss we saw yesterday.

Energy stocks should do well on a higher oil

higher oil price u as should banking stocks following the

rebound on Wall Street. The futures

is pointing to a gain of 277% today.

Are you predicting drastic action

from the RBA when it meets on rates

next week? It really will be an 11th-hour decision. We'll have to

wait to see if the rescue plan is

approved. If it does and markets

soar, the Reserve Bank is less

likely to be aggressive in its rate

likely to be aggressive in its rate cut. If we see markets worsen this

week, we could be in for a 0.5% rate cut, Esther.

I'll be back with more finance shortly. Plenty to talk Plenty to talk about.

To other news now and a search will

continue this morning a Brisbane

man feared taken by a crocodile in Far North Queensland. The 62-year-old's wife reported him

missing when he failed to return from checking his crab

from checking his crab pots.

The Endeavour River is a well known

breeding site for crocodiles. The

search teams are holding out hope they'll

they'll find Vietnam veteran Arthur

Booker alive. The 62-year-old was on holiday with his wife on holiday with his wife in Cooktown when he failed to return

after checking his crab pots. Authorities have found large slide

marks and claw prints on the

riverbank along with Mr Booker's video camera and

video camera and watch. Locals

believe Charlie, pictured here

being tagged three years ago, may

be responsible. I have seen

crocodiles in the river but they've never caused any problem to

anybody. They don't come up on that

bank or that area at all. They're

normally further down the river. Crocodile signs are found

throughout the riverside camp

throughout the riverside camp site

where Arthur and his wife were

staying. Police, SES and rangers will continue the search this

morning. Mr Booker's wife has been

admitted to hospital with shock. A 19-year-old man is dead after a

car struck him and a friend as they

were walking along a footpath along

a main road in Melbourne. Police

say the driver lost control of his

vehicle, crashing into a pole and

then trees. The second male

pedestrian and the passenger of the

car are in hospital in a serious

but stable condition. The driver is

now being questioned by police.

More than 50 residents of a

Melbourne nursing home are being

forced to leave today after a

Federal Government audit uncovered serious

serious hiej gene and safety

breaches. Residents' relatives

attended a meeting overnight.

They're devastated that a solution

could not be found. It is

unbelievable. How can they only

give them one week? It's just been

such a family. A caring place and a family.

A last-minute appeal by the

operator failed, with three of its

centres now in the hands of receivers.

A landmark study has found a lack

of sleep is making Australian kids

fat.

New research shows children are

starved of shut-eye through the

week, forcing them to catch up on

weekends. Experts say kids with roller-coaster sleeping patterns

are more likely to become

overweight or obese and have shorter attention spans.

Researchers are now calling for a

national strategy to address the problem.

DNA testing has allowed scientists

to identify an Australian solder

whose remains were found in an

unmarked grave in Belgium last year.

Private George Storey's relatives travelled to the Western Front from

Australia to rededicate his Australia to rededicate his head stone. Danielle Isdale is there.

Well, it's rather rainy and misty

here in Belgium and the ground is

muddy, just as it was 91 years ago

today when too many Australian

diggers lost their lives fighting

in the Battle of Polygon Wood. Now,

one of those soldiers was Private George Storey and today his family

members have made the journey from

Australia to be here for a

re-dedication ceremony, to change his anonymous head stone

his anonymous head stone from

reading 'Known unto God' to bearing

his own name. Well, it means

everything to me because, up until

now, he's just been a name. Nobody

knew who he was or where he was.

Proiflt Storey's remains along with

four other sets of bones were found

by construction workers last year.

The men were reburied in a special

ceremony. Two of those men were

identified using the DNA samples

of their female descendants and now

a third, George Storey, has been

identified in much of the same

manner but using DNA samples from

his male descendants. This is a

journey that Private Storey's

family members were only too happy

to make, to see him finally laid to

rest with a known grave alongside

those he fought and died with.

Hawthorn's grand final party has

hit another speed hump with two

star players booked in for surgery now.

Lance Franklin will have a shoulder

operation today, while Trent Croad

could miss the start of next season

with a serious foot injury.

It's a famous right arm, but now the shoulder will go under the knife. premiership celebrations cut short Buddy Franklin's because of an injury he's carried through most of the season. I'll be in hospital for the next two or three days. From there, going overseas for about two or three weeks to get out of Melbourne for a little while. The key forward to join his key defender in hospital - Trent Croad will have foot surgery next Monday after waiting the weekend for the swelling to go down. Been a bit disappointing - I've had to sit in a hospital room for a couple of days but the boys have been ringing me

and getting in there as much as they can.

Croad was hospitalised on Saturday night, his foot injury worse than first thought. He's not only fractured the midfoot but also suffered a severe dislocation, meaning he could miss the start to next season. Depending on the success of how it is, then I'll know, but there have been players who have had the same operation and have come back really strong so they're all good. The boss

The boss of the NRL's Match Review

Committee says suspended Melbourne

captain Cameron Smith is wrong to

complain that he's been made a scapegoat

scapegoat by the judiciary system.

Smith accused match reviewers of

singling out his tackle and

ignoring others of a similar ignoring others of a similar nature.

We go through all of the incidents

that have been charged over the

last two years, we compare and contrast. I have absolutely every

confidence in our integrity. Of

course, Smith will miss Sunday's

grand final against the Manly Sea Eagles.

Now the rest of the day's finance news with Esther. Thanks, Frank.

ASIC will maintain its 30-day ban

on all forms of short selling.

There were reports the corporate

regulator would lift the ban due

to pressure from market players. A

similar ban in the US is being

lifted tomorrow but ASIC says the

drastic measure will remain drastic measure will remain in place with the hedge fund industry

claiming the ban has so far Down

done little to stabilise the market.

The slump in home lending has

continued with borrowing at 25-year

lows. Latest figures show home

lending rose by just 0.5% in August,

with annual growth slowing to 9.4%.

Personal credit fell by 0.4% in Personal credit fell by 0.4% in

August, the third straight monthly decline.

decline. But households have decline. But households have

relaxed the purse strings after the

July tax cuts with retail trade up 0.6% in August.

And briefly ABC Learning founder

Eddy Groves has resigned from the company.

Australian employer confidence has

hit a five-year low and the Reserve

Bank will today release its commodity price index.

And Frank that's the finance news

for today. Hopefully not so... a better day than yesterday.

better day than yesterday.

It's been a roller-coaster ride in

the past couple of days. Let's see what happens tomorrow.

Recapping today's top stories: US

US stocks have rebounded after the

trillion-dollar market crash as President Bush warns the economic President Bush warns the economic

damage will be painful and lasting

if Congress fails to pass a

bail-out bill. The search to resume

this morning for a Brisbane

holiday-maker feared taken by a crocodile in north Queensland.

And an emotional ceremony held in

Belgium for an Australian soldier

killed in World War I whose remains

were only recently identified. That's

That's it for Ten's Early News. I'm

Frank Coletta. Bye for now. I'm

Esther Lindstrom. Have a good morning. Supertext Captions

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