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Ten Early News -

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

morning. Welcome to Ten's Early

News. The PM on a world tour after

securing an historic deal with the

States on the Murray Darling. An

Australian man to face trial in

Thailand after admitting to killing

an American tourist. France's

glamorous first couple - the

President and his model wife arrive

in London for a visit with the

Queen. And in sport - Eamon

Sullivan misses the 100 freestyle

the Olympic trials. world record by a finger nail at

To finance now. And how is Wall

Street travelling? The

roller-coaster ride continues with investors selling financial shares throughout the session.

Coming up - a new person at the

helm of the BRW rich list and it's

not you or me. Not again. Thank you.

Kevin Rudd has heads off on his

first major overseas tour first major overseas tour today

since becoming PM. 17 days in the

US, Europe and China. His first

stop is Washington, where he'll be

hosted at the White House by the US

President, George Bush. The PM leaves after striking an historic

agreement over the Murray Darling

river system. All States signing on

to the $10 billion rescue plan at

yesterday's koing koing meeting. -- COAG meeting. After a year of State stalling, the flow of money Kevin Rudd has opened into the Murray-Darling basin, where John Howard failed last year. the PM succeeding are now all signed up Premiers and chief ministers of the Murray-Darling river system. to the $10 billion takeover long in the coming. This has been an agreement to reach. It's been a difficult agreement Victoria was the hold-out.

a billion-dollar commitment Turning the tide - 100 billion litres of water. to projects estimated to save The deal brokered over breakfast. as a great step forward History will judge this day for Australia. in terms of water management

will have control of the system, A single national body for water removed from the river, setting sustainable caps is secured for Adelaide. but also making sure drinking water There was also money for health - $1 billion dollars reporting system on standards. with the agreement of a national Today is the first step a decade-long reduction in addressing in funding out hospitals. on the part of the Commonwealth Brad Hodson, Ten News.

he's As the PM heads off this morning,

he's accused of leaving thousands

of sick people in the lurch. News

Limited reports Cabinet has failed

to confirm subsidies for three expensive medicines to treat

multiple sclerosis, crones and

recently disease. Patients are

currently paying up to $37,000 a

year for the drugs. The subsidies

were approved five months ago but

there are no plans for Cabinet to

meet until Mr Rudd returns and

that's April 13. Mitsubishi workers

unAdelaide are building their last

car today. The Japanese answer

announced in February it would shut

down the Tonsley Park failtd on

Friday, blaming de-- facility on

Friday, blaming declining sales.

The last batch of cars will come

down the line today, bringing an

end to the company's 28-year

manufacturing history in Australia.

Angry primary students in Far North

Queensland are planning more noisy

protests to gain better conditions.

They say their school is a shabby

disgrace. Nice teachers, lousy

group of striking students, school. That at least is how a

supported by their parents,

describe Trinity Beach Primary near

Cairns. It's old, mouldy and is

wrecked. Stinks. It smells bad.

They've protested outside the

school. What they want is a better

oval, a new hall, cleaner toilets

and new demoupbtsdable classrooms.

A whole new -- demountable

classrooms. A whole new school, really. Parents perhaps really.

really. Parents perhaps wisely

stresed there were no problems with

their children's teachers. The their children's teachers. The

teachers and everything are

fantastic but the facilities are

wanting badly. The local Member of

Parliament was less critical.

Trinity Beach School is a great

school. He promised to take the message

message and a petition back to the

Education Minister. Parents and

students say the students say the dissent will

continue until the problems are

fixed. A 65-year-old Australian man

has made a chilling admission in

Thailand. He's told police he Thailand. He's told police he shot

dead an American tourist when they

had a drunken argument in a

restaurant. The 46-year-old victim

had three gunshot wounds to his

face and chest. The accused,

William Douglas, will face trial on

a murder charge. The three Bali

bombers on death row are preparing

to launch another appeal. It was

thought Amrozi, Ali Ghufron and

Imam Samudra were certain to face

withdrew from incase earlier this withdrew the firing squad when their lawyer

week. But he now says they're

planning an appeal. Two alleged leaders of Jemaah Islamiah are leaders

standing trial on terrorism charges in in Indonesia. Police say Zarkasih,

head of the group, when he was

arrested last year, while Abu

Dujana has been described as its

military Mander. Prosecutors are

demanding life imprisonment for the

pair. They are being tried

separately. The French President,

Frank Sartor, has arrived in

Britten for a 2-day state visit. He

was accompanied by his new wife,

pop star model Carla pop star model Carla Bruni. Sartor

met with the Queen and

-- Sarkozy met with the Queen. Her

naked form was splashed across most

of this morning's British

newspapers. Celine Dion has

cancelled her first Australian

concert without warning. Some fans

were already at the Brisbane venue

when they were told Dion couldn't

go on buzz of irritated sinuses. The concert has been rescheduled

for Monday. We're from hiTiti. So

we flew all the way to Sydney and

to the Gold Coast and then took the

car all the way to here. The

Melbourne concert has been rescheduled to April 2.

Eamon Sullivan, so close, and yet

so far from the 100 freestyle world

record at the Olympic swimming

trials. He'll have plenty more

chances as he prepares for Beijing.

Within 5/100ths of a second in the semifinals, Eamon Sullivan cut the

margin even closer a day later.

COMMENTATOR: 2/100ths outside the

world record. Sullivan says the

contenders will be lining up by the

time Beijing rolls around. Just so

many guys out there capable of

swimming that fast and it only

takes one or two for everyone to

realise it's not impossible. It

will be a landslide from now on.

Tears for Libby after seeing

husband finish sixth. While

Schipper threw caution to the wind.

She faded to the wall, holding off

the fast finishing competitor.

Cronulla's Ben Ross has been hit

with a 7-match ban for his late hit on Melbourne's Cooper Cronk. The

severity of the suspension was in

the hands of the judiciary because

his charge was referred. The result,

devastating for Ross. Yeah, I'm

disappointed with the outcome. I

probably let my club and my team

down a lot with this. Melbourne's

Brett White will serve four weeks

for retaliating to the Ross hit.

Whilst Brisbane's Karmichael Hunt

left with a clean record despite

his shoulder charge on Rooster

Braith Anasta. Mark Schwarzer has

again proved to be the Socceroos

saviour after being harshly

ajudgeed to have conceded a penalty

with almost 90 minutes gone, the

Middlesbrough keeper made amends. COMMENTATOR:

COMMENTATOR: He saved it! Didn't

hit it as far in the corner as I

thought he would. And it came

thought he would. And it came back

towards me as well. The match finished

finished without goals. A finished without goals. A vital point for Australia in the qualifying campaign for the finals in South Africa in two years time.

To finance. The BRW rich list is

out. It is. It is indeed. A new

person is at the helm. Fortescue

Metals Andrew Forest can thank the

resources boom for handing him the

top spot. Rupert Murdoch comes in

second, ahead of James Packer and

Frank Lowy. Many on the list aren't

as wealthy as they used to be.

Their shareholder value dropping.

The average wealth of each list

member is now just a meagre $220

million compared with $231 million

last year. High-profile departures

include Centro Properties CEO, the

Allco Finance Group chairman, MFS

founders and ABC's Eddy Groves.

Interest rate rises and a falling

share price has hit David Jones's

bottomline with sales growth

dipping 2%. It's one of the first

signs the RBA's tightening psychosl

biting. Tightening is biting. Rival

Myer will report today.

The national weather for today:

Let's look at headlines. The NSW

Government has been served a

lashing by the DPP. Labelling Morris

Iemma's team ruthless and grubby.

That story in the 'Sydney That story in the 'Sydney Morning

Herald'. Goodman CEO Greg Goodman

has sold $70 million worth of the

company's shares to help clear $280

million in margin loans. The 'Daily

Telegraph' has more on the flood of

tempting business deals for

swimming's golden couple, Stephanie

Rice and Eamon Sullivan. A clue to

a hijacking mystery in the US. That's next.

This morning's top stories - the PM

sets off on his world tour after

sealing a deal with the States on

the Murray Darling system. A truck

driver expected to be charged

driver expected to be charged over

a crash which killed two young children

children in Victoria. French

President Nicolas Sarkozy and his

model wife greeted by the royal

family in London. And in sport -

the NRL judiciary hands Cronulla's

Ben Ross a 7-match ban for his late

hit on Melbourne's Cooper Cronk.

Right now the market stories.

Economic worries weighing on Wall

Street? They are, with stocks

sliding overnight, thanks to a

surge in oil prices and a fuel in durable goods orders.

More on the collapse of a $100

million merger with Xstrata . Kevin

Rudd heads off to the Rudd heads off to the US today.

This follows an historic deal

reached with the States over

control of the Murray Darling.

Victoria finally signing up to the

$10 billion national water plan.

This has been an agreement long in

the coming. It's been a difficult

agreement to reach. The PM's tour

will include New York, London,

Beijing and Brussels. His first

stop will be Washington, though,

where he'll be hosted by the US President. The driver of a

semitrailer involved in a fatal

crash near Melbourne is expected to

be charged. A 6-year-old boy and

his 9-year-old cousin were killed

when the 40-tonne truck hit their

car. Two other children who were in

the car remain in hospital. The

40-year-old driver, the mother of

two of the children, was trapped in

the wrecked car for some time and remains in a serious condition.

Channel Nine has lost its bid to

screen the gangland series

'Underbelly' in Victoria. Lawyers

for the network conceded much of

the series could interfere with a

murder trial. It's a Victorian

story that won't be seen from

Victorians for months. There's fear

of prejudicing a murder trial that's

that's due to begin this month. The

series was originally scheduled to

go ahead at the same time as the

trial was to be conducted.

The Director of Public Prosecutions

warns he won't hesitate to take

action against anyone who obtains

and watches the program, including

via the Internet. There could still

be more legal problems for

be more legal problems for

'Underbelly'. Lawyers for Mokbel

say they will seek a pro-hibition.

Six people have been taken to hospital after being run down on a

car. Police say a man in his 20s

was involved in an argument with

the group of people before alepblly

jumping in his car and then running

-- allegedly jumping in his car and

then running them down. One man was

trapped underneath the car before

being freed. It's alleged the

driver was over the legal alcohol

limit. There are calls for sweeping

changes to recreational boating

rules, following last year's fatal

ferry collision on Sydney Harbour.

Four people were killed when the

Harbour Cat struck a pleasure

cruiser. The ferry could not have

avoided the collision because the

reriational boat did not have its

navigation lights on. And the ferry was

was travelling of course and too

fast for that area. A parachute

could hold the clue to a hijacking

mystery dating back almost four

decades. The FBI's investigating if

it was the one used by DB it was the one used by DB Cooper, who commandeered a jet, extorted

$200,000 from the crew and passengers,

passengers, and jumped in to the

unknown. The parachute was found by

a group of children in a paddock in

the US. The President of France and

his wife have arrived in Britain

for a state visit and it's making

headlines with this cast of

characters. The Queen, the Prince,

the Playboy and the nude model.

This is one packed with glamour and

style from the very start. The French President, Nicolas Sarkozy,

seemed to be happy to let his

glamorous super model turned singer

wife take the lead as they arrived

at Heathrow. France's first couple

were met by the Prince of Wales. It

was quickly on to Windsor Castle to

meet their hosts where the

President and Madame Sarkozy will be given a glamorous celebration tonight. As much attention will

probably be paid to France's new

first lady as the President first lady as the President during

this trip, some newspapers here today

today carried a photograph of her

posing naked from her modelling

days which is due to be auctioned next month.

China has allowed a group of

foreign journalists to visit Tibet

for the first time since deadly

rioting early this month. The 3-day

tour will be strictly policed and

is a move by the Chinese Government

to show the situation is under

control. It comes as Chinese

state-run media increases its

criticism of the way western

countries have reported the unrest.

There's been a fresh wave of unrest

in Iraq. Shiite fighters are on the

attack in Basra and attack in Basra and Baghdad, battling Iraqi troops and forcing

leaders to issue a ultimatum.

Shiite fighters are on the attack

in Iraq. For the second day in a

row, Iraqi troops had battled Iranian-backed militiamen in Basra

and Baghdad. Iraq's PM has given

the gunmen a 3-day deadline to surrender. The heavily fortified Green Zone in Baghdad has been

under attack all week. The under attack all week. The spike in violence follow as period of

relative calm in Baghdad,

attributeed to the US troop surge

and a ceasefire called by Al-Sadr. There

There is concern al-Sadr's

followers will resume hostilities.

The southern port city near Iran is

the hub of the oil industry for Iraq.

Police in Peru have made an

extraordinary discovery when they

were called to investigate a

suspicious looking package on a bus.

The fossilised jawbone of a giant

dinosaur. It weighed 8.5 kilos

which is believed to be from a

triceratops. It roamed 65 million

years ago. Authorities in Peru have

long struggled to stop trafficing of fossils and artifacts.

Eamon Sullivan has missed the 100

metre freestyle world record by 2/1

Howard Governments of a second at

the Olympic -- 2/100ths of a second

at the Olympic trials last night.

Suggestions that longer finger

nails may have been enough to

snatch the world record. I won't

grow the finger nails. Meanwhile, tears for Libby Trickett. Husband

Luke missed out on selection for

Beijing in the 200 breast stroke. Cronulla's

Cronulla's Ben Ross has felt the

full force of the NRL judiciary. He

received a 7-match ban for his late

hit on Melbourne's Cooper Cronk.

Disappointment written across the

face of Ben Ross, arriving ready to

fight the striking charge for his

hit on Cooper Cronk. Ross left hit on Cooper Cronk. Ross left with

a 7-match ban. I'm disappointed

with the outcome. I probably let my

club and team down a lot. The news

not much better for Melbourne's

Brett White. The NSW front rower

receiving a 4-week ban for

retaliating to to Ben Ross's hit on his team-mate. Not for four his team-mate. Not for four weeks,

I wouldn't do it again. The most

relieved man on the night was

Brisbane's hunt Hunt, facing a

grade 3 careless high tackle. He

went in with an entourage of six

ready to defend him. He was not

about to be drawn tine the

controversy his hit caused during

the week. Does it mean the shoulder

charge is still alive, do you

think? We'll leave that question

out. What's the next one? AFL and

Essendon's Houli has received this

season's first nomination for the

AFL Rising skpn star award. He AFL Rising skpn star award. He was pretty happy with the recognition.

I was called add 8 o'clock in the

morning and was told to let my dad

know to get the fish and chips

ready because we're going to

celebrate. Back to finance, though,

the deal is off the table? Brazil's

company has abandoned plans for a

$98.7 billion merger with Xstrata.

The deal would have -- $98.7

million merger with Xstrata.

Differences of opinion with

Xstrata's Swiss commodities trader

is believed to have played a

critical role in the merger, as well as the recent volatility in

the markets. Both companies the markets. Both companies are

likely to focus on small takeovers

and international expansion.

Westpac is under pressure to lift

its home loan interest rate after

the National Australia Bank raised its standard variable rate by nine

basis points on Tuesday. The NAB's

bold move to bring the cost of

mortgages in to line with its mortgages in to line with its main

competitors left Westpac as one competitors left Westpac as one of

the five major banks at the lower

priced end of the housing finance

market. Analysts predict Westpac

has room to move by as much as 10

basis points. The forcast for Thursday around Australia:

There could be a bitter pill for

the PM over drug subsidies. That's

next. And what's going on in the

market with the market with the CommSec finance report when the Early News returns.

This is Ten's Early News. The PM This is Ten's Early News. The PM on

a world tour after securing an

historic deal with the States. A long time coming over the Murray

Darling system. An Australian man

to face trial in Thailand after

admitting to killing an American

tourist. France's glamorous first

couple, the President and his model

wife have arrived in London for a

visit with the Queen. In sport,

Eamon Sullivan misses the 100 metre

freestyle world record by a finger

nail at the Olympic trials.

Let's go back for a walk down Wall

Street now. How is the overnight

session going? Not good at all. The

roller-coaster ride continues with investors selling financial shares throughout the session.

The CommSec finance report. I'll

have that in under 10 minutes.

Thank you. The PM leaves today on Thank you. The PM leaves today on a

5-country tour aimed at repositioning Australia on the

world stage. He leaves after

striking an historic deal with the

States over control of the Murray

Darling. Victoria finally signing

up to the $10 billion national

water plan. This has been an agreement

agreement long in the coming. It's

been a difficult agreement to reach.

The PM's tour will include New York,

London, Beijing and Brussels. His

first stop will be Washington where

he'll be hosted by the US President.

As Mr Rudd heads off this morning,

he's been accused of leaving thousands of sick people in the

lurch. News Limited reports

lurch. News Limited reports Cabinet

has failed to confirm subsidies for

three expensive medicines to treat multiple sclerosis, recently

disease and chrones. There are no

plans for Cabinet to meet until Mr

Rudd returns and that's on April 13.

An elderly Melbourne woman has died after her husband after her husband accidentally

backed over her in their garage.

The man is in hospital suffering

from shock. Angry primary school

students in Far North Queensland are planning more noisy protests to

gain better conditions. They say

their school is a shabby disgrace.

Nice teachers, lousy school. That

at least is how a group of striking students, supported by their

parents, describe Trinity Beach

Primary near Cairns. It's old and mouldy Primary near Cairns. It's old and

mouldy and wrecked. It stinks. Why

is that? Smells bad. They've

protested outside the school. What

they want is a better oval, a new

hall, cleaner toilets and new

demountable classrooms. A whole now

school, really. What do we want?

New schools. Parents perhaps wisely

stressed there were no problems

with their children's teachers. The

teachers and everything are

fantastic but the facilities are

wanting badly. The local member of

parliament, part of the State Labor

Government, was less critical. It's

a great school. Nevertheless, a great school. Nevertheless, he

promised to take the message and a petition back to

petition back to the Education

Minister. Parents and students say

the dissent will continue until the

problems are fixed. A 65-year-old

man has made a chilling admission

in Thailand. He told police he shot

dead an American tourist when they

had a drunken argument at a

restaurant. The 46-year-old victim

had three gunshot wounds to his

face and chest. William diggilous face and chest. William diggilous is

being detained and will -- Douglas

is being detained and will is being detained and will face

charges. It was thought Amrozi, Ali

Ghufron and Imam Samudra were

certain to face the firing certain to face the firing squad when their lawyer withdrew from the

case earlier this week. But he now

says they're planning an appeal

because thebally court didn't because thebally court didn't allow

them to present their case

effectively. And two alleged

leaders of Jemaah Islamiah are

standing trial on terrorism charges

in Indonesia. Police say Zarkasih

headed the group when he was

arrested last year. While Abu

Dujana has been described as its

military commander. Prosecutors are

demanding life imprison want for

the pair. They're being tried

separately. Two people have been

killed, another injured where when

a huge explosion ripped through a fireworks factory in Dubai. The

shot a fireball 100 metres in to

the sky. Firefighters battled to contain the blaze. It's not yet

known what caused the explosion.

The Queen has awarded French President Nicolas Sarkozy a

pristigious honourary Knighthood.

He's aattempted by his new wife,

Carla Bruni. Sarkozy met with the

Queen and Prince Phillip and Queen and Prince Phillip and vowed

to craft a new relationship between

Britain and France. All eyes will

be on the conduct of the First Lady

whose naked form was splashed

across most of this morning's

British newspapers. Eamon Sullivan,

so close yet so far from the 100

freestyle world record at the

Olympic swimming trials. He'll have

plenty more chances as he prepares

for Beijing. Within 5/100ths of a

second in the semifinals, a day

later he cut the margin even closer.

COMMENTATOR: He wins it in a time

of 47.52, 2/100ths outside the

world record. Sullivan says the

contenders will be lining up by the

time Beijing rolls around. Just so

many guys out there capable of

swimming that fast and tonely takes

one or two swimmers to start doing

it and for everyone to realise it's not

not impossible. It's going to be a

landslide from now on. Tears for

Libby Trickett after seeing her

husband Luke finish sixth. While husband Luke finish sixth. While

Schipper through caution to the

wind. Way under world record pace,

she faded to the wall. To rugby

league and Cronulla's Ben Ross has

been hit with a 7-match ban for his

late hit on Melbourne's Cooper Cronk. The severity of the

suspension was in the hands of the

judiciary because his charge was

referred. The result devastating

for Ross. Yeah, I'm disappointed with

with the outcome. I probably let my

club and my team down a lot for

this. Melbourne's Brett White will

serve four weeks for retaliating to

the Ross hit. While Brisbane's Karmichael Hunt left with a clean

record despite his shoulder charge on

on Rooster Braith Anasta. Mark

Schwarzer has ben proved to be the Socceroos' saviour after being

harshly adjudgeed to have concede adpenalty with almost 90 minutes

gone. He then made amends.

COMMENTATOR: And he saved it!

Obviously didn't hit it in the

corner as far as I thought he would

and hitting my legs it came back

towards me. A vital point for

Australia in the qualifying campaign for the finals.

The Australian share market closed higher

higher for a second consecutive day,

boosted by mining and energy shares.

Doesn't look like the positive

sentiment will continue today with Wall Street's performance

overnight? That's right. overnight? That's right. We're expecting the markets to open expecting the markets to open lower,

in particular for financial in particular for financial firms.

We should see them get hit early on.

Citigroup shares down by about 6%.

Profits for financial firms Profits for financial firms will

fall. We had Germany's largest bank

announce that the credit slump is

affecting its 2008 profits. And that's really what's hit markets.

We have Westpac down by about half a percent in the US. We should a percent in the US. We should see

some resources. Base metal prices

were higher and commodity were higher and commodity prices

across the board and BHP shares

trading up. Glenn Stevens is

speaking in Sydney today. Are we

like 3 hear any indication of

future interest rate moves? He's

speaking on fls market volatility.

He will focus on the wholesale

funding rate for the banks and how

the level of expectation there. But,

really, he may touch on interest

rates. The rerb does meet next week.

We're expecting them to -- Reserve

Bank does meet next Bank does meet next week. We're expecting them to keep rates on

hold. The ASX is cracking down? The

volatility in markets has seen the

ASX look at Australian practices

and try to get them in to line with

international practices.

Stockbrokers could face fines of up

to $1 million. And we have seen US

and international hedge funds voice

concerns over Australian practices.

This should certainly improve the

liquidity and give them more chance

of entering the Australian markets.

Thank you for the update. Thank you.

Here is the weather forecast for today:

Taking a look at the newspaper

headlines. The 'Age' is reporting

on the historic agreement to save

the Murray Darling. The 'Business

Day' is reporting on David Jones's

first half year profit results,

saying it's on track to record a

13% rise in profit in the next six

months. And jurors will soon face

punishment if they search for

information . A car hits a group of

people on the NSW Central Coast.

Details when the Early News returns. A-C-T Police have released an image of a man wanted over an attempted abduction in Evatt last Friday. Police claim he was one of two men, who tried to force a fourteen year old girl into a white coloured hatchback, as she was walking along Copland Drive at around three thirty P-M.

He's described as between twenty five and thirty eight years old, and was wearing bright red tracksuit pants Canberra's Australian National University is forging closer ties with the University of Melbourne. Vice Chancellor Ian Chubb says the move intends to offer more research, training, funding and scholarship opportunities for students and staff Tibetan exiles are promising only peaceful protests during Canberra's leg of the Beijing Olympic torch relay. The A-C-T Tibetan community has alerted Federal Police of their protest plans, in the hope they won't be placed under excessive restrictions. Meanwhile the Federal Government says Chinese security officials won't be allowed in Canberra, to monitor the April twenty four relay There have been mixed results from a study into

the performance of the A-C-T's public schools. A Council for Education Research report has found the A-C-T is providing better opportunities for all students, with students from lower socio-economic groups getting better grades than in any Australian state. But the report also points to a big decline in reading and literacy this decade, and a continued gap in the results of richer and poorer students To SPORT The Canberra Capitals are confident of retaining skipper Kellie Abrams for the coming W-N-B-L season.

Capitals officials have described Abrams as their number one re-signing priority, and are in talks to secure her services for two more years. Talks are also planned for four other off contract players, including import Crista Hays NOW TO THE WEATHER A low pressure trough which brought all that rain over or two, has now moved to the northeast of the state Around the nation... showers for Melbourne and Adelaide .. mostly fine for Canberra ... mostly sunny

sunny in Sydney Looking locally... fine and mostly sunny for Dubbo ...

partly cloudy around Wollongong today Fine and mostly sunny for Bathurst ... snow showers around Perisher ... cloudy for Batemans Bay

20 degrees for Mudgee today... wet around Cooma around Cooma ... mostly sunny for Parkes Looking ahead: It should be fine and mostly sunny across the weekend, with a cool overnight for those doing their thing for the Cancer Councils relay for

The PM sets off on his world tour

after sealing a deal with the

States on the Murray Darling system.

A truck driver expected to be

charged over a crash which killed

two young children in Victoria.

French President Nicolas Sarkozy

and his model wife and his model wife have been

greeted by the royal family in

London. In sport, the NRL judiciary hands

hands Cronulla's Ben Ross a 7-match

ban for his late hit on Melbourne's

Cooper Cronk. Finance now and how

is Wall Street finishing up? Not

well. It's been a roller-coaster ride overnight with investors

selling shares throughout the session.

A new leader in the BRW rich list.

I'll tell you who it is shortly.

Kevin Rudd heads off today on his

Kevin Rudd heads off today on his

first major overseas tour since becoming PM. 17 days in the US,

Europe and China. His first stop is

Washington where he'll be hosted at

the White House by the US President

. The PM leaves after striking an historic agreement over the Murray Darling

Darling system. All States have

signed on to the rescue plan. After a year of State stalling, Kevin Rudd has opened the flow of money into the Murray-Darling basin, where John Howard failed last year. the PM succeeding Premiers and chief ministers are now all signed up to the $10 billion takeover of the Murray-Darling river system. long in the coming. This has been an agreement It's been a difficult agreement to reach.

Victoria was the hold-out. Turning the tide - a billion-dollar commitment to projects estimated to save 100 billion litres of water. The deal brokered over breakfast. in terms of water management for Australia. A single national body will have control of the system, setting sustainable caps for water removed from the river, but also making sure drinking water is secured for Adelaide. There was also money for health - $1 billion dollars to public hospitals, with the agreement of a national reporting system on standards. Today is the first step in addressing a decade-long reduction on the part of the Commonwealth in funding out hospitals. Brad Hodson, Ten News.

Six people have been taken to

hospital after being hit by a car

on the NSW Central Coast. Police

say a man in his 20s was involved

in an argument with the group,

before allegedly driving his car in

to them. None suffered

life-threatening injuries. The

vehicle crashed in to an outdoor

dining area from a restaurant. One

man was trapped underneath the car

for some time. It's alleged the

driver was over the driver was over the legal alcohol

limit. Mitsubishi workers in

Adelaide are building their last

car today. The Japanese manufacturer announced in February

it would shut down the Tonsley Park

facility this Friday, facility this Friday, blaming declining sales. Around 1,000

workers will be without jobs. The

last batch of cars will come down

the line, bringing an end the line, bringing an end to the company's 28-year manufacturing

history in Australia. Channel Nine

has lost its bid to screen the

gangland series 'Underbelly' in

Victoria. Lawyers conceded much of

the series could interfere with an

upcoming murder trial. It's a

Victorian story that won't be seen

by Victorians for months. The Court

of Appeal has upheld Bety King's

decision to not show the decision to not show the program.

The series was originally broadcast

-- scheduled to be broadcast at the

same time as the trial was to be conducted. The Director of Public Prosecutions

warns he won't hesitate to take

action against anyone who obtains

and watches the program, including

via the Internet. There could still

be more legal problems for

'Underbelly'. Lawyers for Mokbel

say they'll seek a similar prohibition once he's extradited. It's expected the driver of a

semitrailer involved in a fatal

crash near Melbourne will be charged.

charged. A 6-year-old boy and his

9-year-old cousin were killed when

the 40-tonne truck hit their car.

Two other children who were in the

car at the time remain in car at the time remain in hospital.

The mother of two of the children

was trapped in the wrecked car and

remains in a serious condition. The

US's largest airline has cancelled

nearly 200 flights due to safety

concerns. American Airlines

grounded all of its Boeing MD80

aircraft after authorities reviewed

its maintenance records and

questioned whether inspections had been properly performed. been properly performed. Thousands

of passengers have been stranded.

The President of France and The President of France and his

wife have arrived in Britten for a

state visit and it's making

headlines with this cast headlines with this cast of

characters - the Queen, the Prince,

the playboy and the nude model. As

state visits go, this is one packed

with glamour and style from the

very start. The French President,

Nicolas Sarkozy, seemed to be happy

to let his glamorous super model

turned singer wife, Carla Bruni,

take the lead. France's first couple, whose controversial

relationship and marriage has made

plenty of headlines, were met by

the Prince of Wales. It was quickly

on to Windsor Castle to meet their

hosts where the President will be

give an glittering state banquet tonight.

As much attention will probably be

paid to France's new First Lady as

the President during this trip.

Some newspapers here today carried

a photograph of her posing naked

from her modelling days, which is

due to be auctioned next month.

Eamon Sullivan missed the 100

meeter stpreestyle world record by

2/100ths of a second at the Olympic

trials last night. He was chasing

the world mark and he was confident

after a great swim in the after a great swim in the semifinal. Suggestions that longer finger nails

nails may have been enough to

snatch the record. I won't grow my

finger nails, I'll probably put a

hole in my suit if I do that. There were tears for Libby Trickett. Her

husband, Luke, missed out on

selection. Cronulla's Ben Ross has

felt the force of the NRL judiciary,

receiving a 7-match suspension for

his late hit on Melbourne's Cooper Cronk. Disappoint. Written Cronk. Disappoint. Written across

the face of Ben -- disappoint want written across the face of Ben Ross.

Ross left with a 7-match ban. I'm

disappointed with the outcome. I

probably let my club and team down

a lot for this. The news not much

better for Melbourne's Brett White.

The NSW front rower receiving a

4-week ban for retaliating to Ben Ross's

Ross's late hit on his team-mate. Not

Not for four weeks, I wouldn't do

it again. The most relieved man on

the night was Brisbane's hunt hunt

hunt. Face aggrade 3 careless high

tackle for his shot on Sydney

Rooster Braith Anasta, he went Rooster Braith Anasta, he went in

with an entourage of six ready to

defend him. He was not about to be drawn tine the controversy his hit caused

caused during the week. Does it

mean the shoulder charge is still alive,

alive, do you think? We'll leave

that question out. What's the next

one? Adelaide's Andrew McLeod has

injected some good old fashioned

sledging in to the AFL Hall of Fame

game. He says the Victorians are arrogant. More than a month out from the return of interstate football and Andrew McLeod has fired the first shot - the All-Stars captain with an early broadside at the Big V. Just sitting at a few of the meetings and, you know, when they first announced it at the press conference you could almost feel the tension, almost the arrogance of the Victorians and the fact that we'd love to belt them. There'll be enough South Australians in there and across the border and we always think they think a bit strange about their football. But us Victorians, at least we think we've got a bit more common sense about our footy. The AFL has said it will take no action controversial tunnelling tactics, against the Swans' but it hasn't stopped Paul Roos from saying his piece. It is a bit of a slur. of our football club intentionally to hurt anyone and he's never gone out in a game of football. On the injury front, and Collingwood has confirmed Sean Rusling will miss the remainder of the season - the young gun requiring another surgery on his troublesome shoulder.

Let's talk finance. Stock brokers

facing tough new fines. And traders

as well. They could top fines of up

to $1 million if caught manipulating the market. The new

regulations will come in to force

on Monday. The ASX is quadrupling

the maximum fine. The tougher penalties also bring Australia in

to line with international practice.

A new person is at the helm of the

BRW rich list. Fortescue Metals

Andrew Forest can thank Australia's

resources boom for the top spot.

Rupert Murdoch comes in second,

ahead of James Packer and Frank

Lowy. Many on the list aren't as

wealthy as they used to be. The

average wealth of each list member

is only just $220 million now,

compared with $230 million last

year. High-profile departures

include Centro Properties CEO, the

alcohol alcohol Finance Group

chairman, MFS founders and ABC

Learning Centre's Eddy Groves.

Before I can go, a broad rally in

commodities is flowing through the

Aussie dollar. The Dow is going to

fall down around 130 points. Again.

You might think twice before you

call someone "birdbrain' next time.

Never. This parrot has become a

master at solving chain puzzles.

Using her beak and foot, he can

untangle the chain in less than 30

seconds. She's attracted scores of

visitors, where she remains

undefeated. Her rivals are undeterred. The forecast

undeterred. The forecast for Thursday:

That's it for the Early News. 9am

with David and Kim. The Morning News

News at 11 and we'll wrap it up for

you at 5 o'clock. Have a good morning.

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