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(generated from captions) This program is captioned live. Good morning. I'm Bill Woods. Welcome to Ten's Early News. And I'm Kellie Morgan. mortgage crisis. Our top stories this Thursday - Our biggest lender of further interest rate rises flags the possibility as the US credit crunch hits home. credibility on the line Truth or dare - Peter Costello's his leadership ambitions. over claims he lied about the discovery of a woman's body Suspicious find - police investigate at least 250 people dead And toll rises - in Iraq since the 2003 invasion. in what's shaping as the worst attack in finance Now for a first check of a big day on the local market? and multibillion-dollar losses Good morning, Bill. have suffered heavy losses Australian stocks from the local bourse. with $48 billion wiped At the close, to its lowest level in five months. the share market had plunged

interest rate hike in Australia There are fears of a further mortgage crisis. as a result of the US sub-prime have already been hit Our non-bank lenders like RAMS to raise rates. and are under pressure they're also facing higher costs. But now the big banks say

The fact of the matter markets internationally has moved, is that the price of credit in the be some increase in rates. so there will, at some stage, a $4.6 billion profit yesterday, The CBA, which announced to rise further. also expects official interest rates I'll be back shortly from the Commonwealth Bank chief. with more comments

is on the line Peter Costello's credibility over his leadership ambitions. as a new row erupts

the Prime Minister. He denies he tried to undermine with top journalists. His account at odds In damage control to derail the Government. as leadership tensions again threaten I want to make it clear at the Prime Minister. that I never carped explosive allegations The Treasurer fending off

to destroy John Howard's leadership that he threatened step aside by April last year. if the Prime Minister did not senior press gallery journalists The comments apparently made to three at this Canberra restaurant in 2005. REPORTER: Are you saying their accounts of the evening? that they have concocted that have the wrong night. No, I am saying, ah... The journalists now admit the dinner was in June,

not March as initially stated.

But they stand by their account couldn't win the coming election. that Mr Costello warned John Howard Mr Costello denies it. John Howard can win this election, this election. and John Howard will win to answer the accusations But Mr Costello refused he threatened to take on Mr Howard from the back bench and destroy his leadership if he didn't get the top job, that the challenge never came. pointing instead to the fact

I don't know what was discussed, I wasn't there. I can only say, though, dealings with him, Mr Costello, that I have always found in my and forthright man. to be an honest Leonie Mellor, Ten News.

is urging all Labor politicians An ALP powerbroker premier's council amalgamation plans. stop slamming the Queensland a union figure in Labor's right, Bill Ludwig, is wrong to conclude believes Federal Labor amalgamations the Peter Beattie driven at the upcoming Federal Election. will hurt the party's chances passed in parliament last week The controversial state legislation in Queensland halved. see the number of councils Police are treating as suspicious washed up on Sydney's Bondi Beach. the discovery of a woman's body early this morning Police s potted the body on the north end of the beach. in her mid-30s or 40s The woman is of Asian appearance with short dark hair. only pink pyjama bottoms. She's was found wearing An Australian base-jumper has died

dived off a 1,500m cliff 28-year-old Stephen Richard Anderton in the country's north-east, after his parachute failed to open. before slamming into a rock-face He's the third Australian in three years

in Norway. to die in base-jumping accidents to die base umping accidents

Iraqi insurgents linked to al-Qaeda of at least 200 people are being blamed for the massacre religious community. from a small and ancient With details still coming in, the worst atrocity it could turn out to be four years ago. since the invasion of Iraq

(Child's cries of agony) amongst the casualties There were many children of this huge, coordinated attack. Cut down along with their families through their fragile mud houses. by the bombs which tore are now filled to capacity The hospitals in north-western Iraq Islamic militants were responsible. and already officials believe the spectacular nature of it, This attack,

car bombs that were used with al-Qaeda and Iraq violence. all have a consistent profile the Yazidis, This minority religious sect, were the target of the attack. They're not Muslims regard them as Infidels. and militant Islamic groups here of troops in Baghdad this year Ironically, it's the American surge out of the capital into remote areas which has forced militants such as the Yazidi. where they find easy targets execution-style in Germany. Six Italian men have been shot dead The killings linked to a mafia feud.

party celebration The men were shot at an 18th birthday outside an Italian restaurant.

in the head. All the victims were shot The youngest just 16-years-old. she saw two men flee the scene. A witness says

are on their way to Germany Investigators from Rome to help solve the crime. Rugby league Sione Faumuina is out and North Queensland's for the rest of the 2007 season. of a grade two reckless tackle The forward found guilty at the judiciary. during a tough night The Cowboys took the gamble and lost. Sione Faumuina for seven weeks The NRL judiciary banning on Luke Priddis. for a grade two reckless tackle Bitterly disappointed. Been in the game for a long time.

disappointing thing This is one of the most I've been involved in. The Cowboys attempted to downgrade the charge from reckless to careless

arguing Faumuina only made high contact with Priddis due to his arm bouncing up off the football. But the judiciary saw otherwise. I'm disappointed for one. I thought we had a good case to answer to. Wasn't to be. I'm still in shock. In Melbourne, the Storm furiously hit back at other NRL clubs for constantly linking them to the illegal grapple-tackle. Just because we're winning, just because we defending better than other sides, people need to get off our backs or we'll start getting on their backs.

Coach Craig Bellamy believes most clubs tackle in a similar fashion and is fed up with fellow coaches using the media to try and influence referees. Scott Mackinnon, Ten News. Lleyton Hewitt has coasted through to the third round of the Cincinnati Masters. The Australian advancing after his opponent Richard Gasquet retired in the second set with hand injury. Second seed Rafael Nadal has also retired hurt. The Spaniard was down a set to love and 4-1 to Argentine Juan Monaco forced him to abandon the match. when a left forearm injury Kellie joins us now with finance and an ominous warning from our biggest home lenders on rates? Bill, as mentioned, the US sub-prime mortgage crisis is taking a punishing toll and the Commonwealth Bank's boss used yesterday's record $4.6 billion profit announcement to flag a possible rise. The fact of the matter is that the price of credit in the markets internationally has moved, so there will, at some stage, be some increase in rates. It's about the relative level of those increases non-bank lenders are going to be in a situation where they have to pass on, I think, significantly greater increases than a bank like us. REPORTER: And across all products, including home loan products? It will be across all products. Any such increases, and we haven't seen any increases of any significance for ourselves at this stage because of the shape of our liability book certainly that is impacting a lot of lenders

who borrow short in the wholesale market where we're fortunate that we have a which gives us a degree of insulation for our customers. REPORTER: With interest rates, what are you banking on - another rise this year or next year? Um, I'm not the Governor of the Reserve Bank um, but I have to say that when you look at um, the predictions in regard to GDP growth of over 4%,

if we see that start to come to pass then one would expect that there might be a further tightening of interest rates. James Hardie has weathered the US sub-prime housing storm to post a shock 9% jump in profit. The building products group, which generates 80% of its earnings in America, finished its first quarter up $83 million.

The housing market in the US started turning down about a year ago and I think that we successfully kind of stayed ahead of it so we've reset the business model expecting lower demand and our plants are set up to maintain the cost deficiencies even though it's at a lesser demand. James Hardie's luck couldn't rub off on Boral. America's worst housing slump in 16 years

and a declining New South Wales housing market combined to slash earnings by 18% to $298 million after tax. Now for a look at the national weather and for the rest of the day.

Now for a look at the newspapers.

A dire rates warning as the market takes a tumble. We'll get the Australian Share holders Association's take when Ten's Early News returns.

This program is captioned live. Welcome back to Ten's Early News. Making headlines - Costello's credibility. of three leading journalists The Treasurer refutes the claims he threatened to destroy the PM. Murder charges - another two men in court accused of torturing and killing a disabled man in Melbourne. Fatal collision - a man dies as his sedan slams into a bus carrying school children on the Gold coast. And in sport - North Queensland 's Sione Faumuina out for the NRL season

after being found guilty of a reckless tackle. Let's check in with business news and what's the latest on Wall Street? Bill, tt's been a rollercoaster ride on Wall Street with investors weighing up heightened concerns on credit woes against upbeat inflation figures.

The finish followed yet another choppy night on Wall Street. Alexis Christoforous has more. The Blue Chips are in a battle for 13,000. In a blow to investor confidence the Dow dipped below the millennium milestone

for the first time since April - a big psychological barrier for traders. That certainly reminds investors that they now have less than they did only four weeks ago. It was just four weeks ago that the Dow blasted through the 14,000 mark for the first time. Since then, growing concerns about the mortgage market malaise and the ever-deepening credit crunch have put investors on edge. And experts say stocks may have further to fall before the bulls charge back on Wall Street. Alexis Christoforous, Ten News. When I return, we'll cross live to Melbourne to learn more about how this volatile market is affecting the average shareholder. Peter Costello's credibility is on the line, as a new row erupts over his leadership ambitions. The Treasurer says he never told journalists John Howard couldn't win the coming election.

But he's refused to answer accusations he threatened to destroy the PM with carping from the backbench if he didn't get the top job. The journalists have very different recollections to what I have. I have always found in my dealings with him, Mr Costello, to be an honest and forthright man. The journalists stand by their account. A damages claim for more than $18 million has been made against the owner of a truck that crashed into The Ghan passenger train south of Darwin last year. Great Southern Railway wants to recover the cost of damage to two locomotives and 10 carriages which were derailed in the collision. It's also claiming loss in reputation. Four passengers were injured in the crash and Ghan services disrupted for a week. Two more people have been charged over the murder of an intellectually disabled man in Melbourne. 22-year-old Shalendra Singh and 27-year-old Hakan Aydin will face court this morning over the death of 22-year-old Christopher O'Brien. Police Mr O'Brien was tortured before being killed and dumped in a drain. In total, six people have been charged, including a girl, a father and his son. A man has died after his car slammed into a bus packed with teenagers

on the Gold Coast. The 24 high school students were shaken but unharmed. The high school students and two teachers were returning from an excursion when the crash happened around 9:30 last night on a busy road in Southport. A multiple vehicle accident here.

One involving a bus with 24 school children on board in a station wagon. and an individual Police say the 42-year-old driver of this white station wagon lost control and veered into the path of a bus. He died instantly. The 24 teenagers from an exclusive Gold Coast school were unharmed but were treated for shock at the scene. Certainly a few very shaken up as you could well appreciate.

We have one deceased individual in the vehicle. The driver of the bus was taken to Gold Coast hospital with minor injuries. Police acknowledge driving conditions were slippery. Our strong advice from all emergency services is you need to slow down in the rain. Anthony Donaghy, Ten News. Rescuers are digging to find survivors after what could the worst attack in Iraq since the invasion four years ago. More than 200 people died in the suicide bombing and the number continues to rise. The US military are blaming al-Qaeda for the attack on the small Kurdish sect considered to be Infidels by Muslim extremists. Four trucks approached the town near the northern city of Mosul, all exploding within minutes of each other. There are calls for tougher quality controls after US toy-maker Mattel ordered the recall of millions of toys. Thousands of Chinese made toys are being removed from the shelves over fears of lead contamination and loose parts. The recall likely to affect Chinese producers. The packing up of this company in southern China. Business is closed for good. This factory once made millions of toys for Mattel but with its reputation in ruins, now these boxes of toys are going nowhere. Can you tell us where the workers are? "They've been sent home" he tells me. "They won't be coming back". So we visit one of the company's other sites and here we discover the heart of the problem. So we've made it into the factory which produced all the paint for the factory.

You can see piles and piles of toys just lying abandoned, really all made in China, of course, here with the Fisher Price logo for Mattel. These toys, of course, toxic toy shelves anywhere in the world. and destined never to reach From a 5,000-strong work force, only a few remain.

The loss here has been considerable but the damage to China's reputation may be just as grave. To the NRL and North Queensland will be without Sione Faumuina for the rest of the season after a disappointing night at the judiciary. The forward was found guilty of a grade two reckless high tackle on Luke Priddis earning him seven weeks on the sideline. I'm disappointed for one. I thought we had a good case to answer. Wasn't to be. I'm still in shock. Faumuina was quick to apologise to both the fans and his team-mates after the verdict was handed down. Hawthorn's Campbell Brown has been fined $15,000 for misleading the AFL tribunal. Brown admitted he lied to help West Coast skipper Chris Judd get off an eye-gouging charge.

Half of the $15,000 will be suspended after the Hawks and the AFL met to slug out this case. Oh, look, disappointed that the AFL have felt to the broader playing group that the message they want to send has to be delivered by way of a fine rather than, for example, a reprimand and a suspended fine. Campbell has held his hand up, he's apologised, and we're just now keen to move on. Brown has been charged for misleading the tribunal in the Chris Judd case when he claimed he was not eye-gouged. Yeah, I did. And then did you feel he let you down in the aftermath of that hearing? Not such much - he obviously wanted to get off, I wanted him to get off, everyone wanted him to get off. And Hawthorn has been slugged $50,000 for videotaping the match between the Bulldogs and St Kilda.

Half has been suspended after they apologised. At Essendon, James Hird's farewell campaign is on hold after being forced to leave the track with more calf problems. It's just not ready, you know? It's just not ready, and I'll be ready next week. And Collingwood skipper Nathan buckley will return to football this weekend via VFL affiliate Williamstown. Ian Cohen, Ten News. A bike crash has left an Australian triathlete in a medically induced coma in France.

Tameka Day was competing in a triathlon Grand Prix at Embrun in the South of France

when the accident occurred. It's reported Day has suffered a fractured skull, severe cuts and a possible cervical fracture. Her husband is flying to France. Kellie joins us now with the latest business news and the global credit crunch hitting hard? It's been a rough fortnight for share holders - $48 billion alone stripped from the value of Aussie stocks yesterday. With more, Ian Curry from the Australian Shareholder's Association joins us live from Melbourne. Many are saying the credit fall-out in the US has brought about the correction our market needed. Is this the case and why?

I think it is. In Australia Pablo

concern that we will suffer the

same problems as have occurred in

America with mortgages and then

just rates going up. People are

having trouble paying the moth. We

are other concerns with the messes?

Investors are concerned when prices Investors are concerned when prices

fall but our view is there is no

need to panic. Share markets do go

down but this is afford to the

level unmatched the Shia and we

believe that investors should be

looking at the long term. West

Farmers is announcing its profits

this morning. The importance lies

in the effect of the share-price. If

If the share price reacts

favourably - we do not load a

result - it both ways farmers share

price and because she price could

rise and that will make the outcome

for Wes farmers or attractive to Kohl's shareholders. Now for a look at the national weather and for the rest of the day. The Italian coast guard has some new recruits and they're the cutest lifeguards we've seen yet. These beautiful blondes will be helping out their less furry friends. It's an unusual strategy to save some of the 400 swimmers who drown in Italian seas each year. Training a rescue dog takes about a year and a half before they're ready to hit the sand and sea.

The Treasurer's credibility on the line amid renewed leadership claims. That's next. And the CommSec finance report when the Early News returns.

Our top stories this Thursday - mortgage crisis. Our biggest lender flags the possibility of further interest rate rises as the US credit crunch hits home. Truth or dare - Peter Costello's credibility on the line

over claims he lied about his leadership ambitions. Suspicious find - police investigate the discovery of a woman's body on Australia's famous Bondi beach.

And toll rises - at least 250 people dead in what's shaping as the worst attack in Iraq since the 2003 invasion.

Checking in with finance again and analysts are predicting the market has further to drop. They are, Bill. The heavy losses in the Australian stocks has put us on the cusp of a technical correction. At the close, the share market had plunged to its lowest level in five months.

Home loan customers are bracing for another hike in interest rates. But this time not from the Reserve Bank, rather the US. American financiers have been loose with their lending. Now Australian mums and dads could feel the pain. Non-bank lenders like RAMS are among the most vulnerable after borrowing on the US market, and are under pressure to lift rates. The big banks could follow. The fact of the matter is that the price of credit in the markets internationally has moved, so there will, at some stage, be some increase in rates. That on top of last week's official rate rise. Even Aussie John mightn't be able to save you. They need to be concerned because this may break out into a nasty storm. Not to panic. Put it on your radar, but also have a look at your existing finances.

That thunderstorm could see rates trickle up by another 0.25%. We're not talking here about standard variable mortgage interest rates, we're not talking about loans by the big banks.

But in Australia, loans to people who have a bad credit history could, in fact, increase. the strain that bit harder. Any further rise would make Max Futcher, Ten News. When I come back we'll cross live to CommSec

for what's expected from Qantas when it announces its profits today. Peter Costello's credibility is on the line, as a new row erupts over his leadership ambitions. The Treasurer says he never told journalists John Howard couldn't win the coming election. But he's refused to answer accusations he threatened to destroy the PM if he didn't get the top job. with carping from the backbench The journalists have very different recollections to what I have. I have always found in my dealings with him, Mr Costello, to be an honest and forthright man. The journalists stand by their account. Police are treating as suspicious the discovery of a woman's body washed up on Sydney's Bondi Beach. Police spotted the body early this morning on the north end of the beach.

The woman is of Asian appearance in her mid-30s or 40s with short dark hair. She was found wearing only pink pyjama bottoms. A man has died after his car slammed into a bus packed with teenagers on the Gold Coast. The 24 high school students were shaken but unharmed. The high school students and two teachers were returning from an excursion around 9:30 last night when the crash happened

on a busy road in Southport. A multiple vehicle accident here. One involving a bus with 24 school children on board and an individual in a station wagon.

Police say the 42-year-old driver of this white station wagon lost control and veered into the path of a bus. He died instantly. The 24 teenagers from an exclusive Gold Coast school were unharmed but were treated for shock at the scene. Certainly a few very shaken up as you could well appreciate. We have one deceased individual in the vehicle. The driver of the bus was taken to Gold Coast hospital

with minor injuries. Police acknowledge driving conditions were slippery. Our strong advice from all emergency services is you need to slow down in the rain. Anthony Donaghy, Ten News. Six Italian men have been shot dead execution-style in Germany. The killings linked to a Mafia feud. The men were shot at an 18th birthday party celebration outside an Italian restaurant. All the victims were shot in the head. The youngest just 16-years-old. Authorities have a lead. A witness says she saw two men flee the scene. are on their way to Germany Investigators from Rome to help solve the crime. Iraqi insurgents linked to al-Qaeda are being blamed for the massacre of at least 200 people from a small and ancient religious community.

it could turn out to be the worst atrocity since the invasion of Iraq four years ago. (Child's cries of agony) Rugby league and North Queensland's Sione Faumuina is out for the rest of the 2007 season. The forward found guilty of a grade two reckless tackle during a tough night at the judiciary. The Cowboys took the gamble and lost.

Sione Faumuina for seven weeks The NRL judiciary banning for a grade two reckless tackle on Luke Priddis. Bitterly disappointed. Been in the game for a long time. This is one of the most disappointing thing I've been involved in. The Cowboys attempted to downgrade the charge from reckless to careless arguing Faumuina only made high contact with Priddis due to his arm bouncing up off the football. But the judiciary saw otherwise. I'm disappointed for one. I thought we had a good case to answer. Wasn't to be. I'm still in shock. In Melbourne, the Storm furiously hit back at other NRL clubs for constantly linking them to the illegal grapple-tackle. Just because we're winning, just because we defending better than other sides, people need to get off our backs

or we'll start getting on their backs. Coach Craig Bellamy believes most clubs tackle in a similar fashion

and is fed up with fellow coaches using the media to try and influence referees. Scott Mackinnon, Ten News. Hawthorn defender Campbell Brown has been fined $15,000 for misleading the AFL tribunal. Brown admitted he lied to the tribunal in June in an effort to have West Coast skipper Chris Judd cleared of an eye-gouging charge. The one pleasing thing, if I can use that descripton, is that it's been wrapped up very quickly, in the space of 24 hours, allowing us as a club, Campbell as an individual, to move on. Hawthorn has also been fined $50,000 for video-taping the match between the Western Bulldogs and St Kilda. Lleyton Hewitt has coasted through to the third round of the Cincinnati Masters. The Australian advancing after his opponent Richard Gasquet retired in the second set with hand injury. Second seed Rafael Nadal has also retired hurt. The Spaniard was down a set to love and 4-1 to Argentine Juan Monaco when a left forearm injury forced him to abandon the match. In the past two trading sessions, the Australian stock market has suffered bigger falls than its New York counterpart. With more, Craig James from CommSec joins us live. Our benchmark index plunged 10% yesterday alone. Should investors be concerned or is this the correction we needed?

The share market was getting a bit

pricey but we did not want it to

fall over black we have seen own past a police. There is a earth a lot more value in the market particularly in the case of the utilities sector. week. What can we expect from Qantas? We are expecting a 35 % increase. Nine you was the colour - comp company there - passenger numbers were high. We would hear something today in terms of the spin-off of the frequent flyer programme. Now for a look at the national weather and for the rest of the day. Six people now charged over a gruesome Melbourne murder. The details, and more, when Ten's Early News returns. THE A-N-U RATES WELL IN THE GOOD UNIVERSITIES GUIDE - MORE ON THAT SOON BUT FIRST - THE A-C-T GOVERNMENT'S CONTINUING TO INVESTIGATE COMPLAINTS OF DIFFICULT WORKING CONDITIONS IN ITS PUBLIC HOSPITALS. HEALTH OFFICIALS MET WITH NURSING STAFF EARLIER IN THE WEEK, DISCUSSING STAFF CONCERNS LIKE WORKLOADS AND PATIENT SAFETY. MEANWHILE, THE OPPOSITION CLAIMS SOME MANAGEMENT STAFF ARE TOUGHLY SCRUTINISING WHISTLEBLOWING NURSES, IN A BID TO HAVE THEM SACKED BUT FIRST - TWO MORE MEMORIALS WILL BE BUILT NEAR ANZAC PARADE TO HONOUR OUR FALLEN TROOPS. THE FEDERAL GOVERNMENT'S GRANTED TWO HUNDRED THOUSAND DOLLARS, TO ASSIST IN DESIGN AND PLANNING. THE STRUCTURES WILL BE LOCATED NEAR THE ROND TERRACES, CLOSE TO LAKE BURLEY GRIFFIN. THE A-N-U AND UNIVERSITY OF CANBERRA HAVE EXCELLED IN A RECENT NATIONAL STUDY. THE GOOD UNIVERSITIES GUIDE HAS FOUND IT'S AMONG FOUR IN AUSTRALIA TO RECEIVE A FIVE-STAR RATING FOR SALARIES AFTER GRADUATION. THE A-N-U ALSO RECEIVED FULL MARKS FOR AREAS INCLUDING RESEARCH GRANTS AND STUDENT SATISFACTION. TO SPORT AND A-C-T CYCLIST TOM PALMER HAS JUST RETURNED FROM A STAND-OUT PERFORMANCE AT THE WORLD JUNIOR CHAMPIONSHIPS IN MEXICO. THE SEVENTEEN-YEAR OLD FROM DUFFY WON ONE GOLD AND ONE BRONZE MEDAL IN THE TRACK EVENTS, AND RECORDED THE THIRD FASTEST TIME BY ANY AUSTRALIAN IN THE ONE KILOMETRE TIME TRIAL. NOW CHECKING HOW THE DAYS LOOKING WEATHERWISE A HIGH NEAR NEW ZEALAND IS EXTENDING A RIDGE TOWARDS THE SOUTHEAST STATES WHILE A FRONT AND TROUGH LIES OVER THE BIGHT TO THE WEST. ACROSS THE NATION, SHOWERS FOR CANBERRA AND SYDNEY, CLOUD CLEARING FOR THE ALICE, A LATE SHOWER FOR HOBART, FINE IN PERTH TO OUR REGION AND WET AND 13 IN ORANGE .. WAGGA HEADING FOR 16 WITH LATE SHOWERS .. MORE SHOWERS AND

18 IN WOLLONGONG BATHURST AND BOWRAL HEADING FOR 15 TODAY .. COOLER AND BOWRAL HEADING FOR 15 TODAY .. COOLER AND 13 IN FOR 15 TODAY .. COOLER AND 13 IN GOULBURN .. SNOW SHOWERS IN PERISHER AND THREDBO COOMA SHOWERS AND 14 .. AND JUST THE CHANCE OF A SHOWERS AND 19 FOR PARKES LOOKING AHEAD AND MORNING SHOWERS CLEARING FRIDAY AND MORNING SHOWERS CLEARING FRIDAY WITH HIGHS OF 12 .. // MOSTLY FINE ON SATURDAY AND GETTING SLIGHTLY WARMER WITH A TOP OF 13 ON SUNDAY (NO SCRIPT NEEDED HERE.) This program is captioned live. Welcome back to Ten's Early News. Making headlines - Costello's credibility. The Treasurer refutes the claims of three leading journalists he threatened to destroy the PM. Murder charges - another two men in court accused of torturing and killing a disabled man in Melbourne. Fatal collision - a man dies as his sedan slams into a bus carrying school children

on the Gold coast. And in sport - North Queensland's Sione Faumuina out for the NRL season

after being found guilty of a reckless tackle. Peter Costello's credibility is on the line as a new row erupts over his leadership ambitions. He denies he tried to undermine the Prime Minister. His account at odds with top journalists. In damage control to derail the Government. I want to make it clear that I never carped at the Prime Minister. The Treasurer fending off explosive allegations that he threatened to destroy John Howard's leadership if the Prime Minister did not step aside by April last year. The comments apparently made to three senior press gallery journalists at this Canberra restaurant in 2005. REPORTER: Are you saying that they have concocted their accounts of the evening? No, I am saying, ah... that have the wrong night. The journalists now admit the dinner was in June, not March as initially stated. But they stand by their account

that Mr Costello warned John Howard couldn't win the coming election. Mr Costello denies it. John Howard can win this election, and John Howard will win this election. But Mr Costello refused to answer the accusations he threatened to take on Mr Howard and destroy his leadership from the back bench if he didn't get the top job, pointing instead to the fact that the challenge never came. I wasn't there. I don't know what was discussed, I can only say, though, dealings with him, Mr Costello, that I have always found in my to be an honest and forthright man.

Leonie Mellor, Ten News. Six people have been charged following the discovery of an intellectually disabled man's body in a Melbourne drain. For more, we're joined by Ten reporter Ben Lewis. Ben, what developments have occurred overnight? A 42-year-old man has died instantly after his car collided with a bus on the Gold Coast overnight. The accident happened around 9:30. a man losing control of a white station wagon. On board the bus were two teachers and 24 high school children returning from an excursion. All were unharmed but shaken by the accident. The bus driver was taken to hospital with minor injuries. An Australian BASE-jumper has died in Norway. 28-year-old Stephen Richard Anderton dived off a 1,500m cliff in the country's north-east, before slamming into a rock-face after his parachute failed to open. He's the third Australian in three years to die in BASE-jumping accidents in Norway. Rescuers are digging to find survivors after what could the worst attack in Iraq since the invasion four years ago. More than 200 bodies have been pulled from the rubble. (Child's cries of agony) There were many children amongst the casualties of this huge, coordinated attack. Cut down along with their families by the bombs which tore through their fragile mud houses. The hospitals in north-western Iraq are now filled to capacity and already officials believe Islamic militants were responsible. This attack, the spectacular nature of it, the complete disregard for human life, car bombs that were used all have a consistent profile with al-Qaeda and Iraq violence. This minority religious sect, the Yazidis, were the target of the attack. They're not Muslims and militant Islamic groups here regard them as Infidels. Ironically, it's the American surge of troops in Baghdad this year which has forced militants out of the capital into remote areas where they find easy targets such as the Yazidi. It's been 30 years to the day since Elvis Presley was found dead at his Graceland mansion. The King may have left the building, but Priscilla Presley is still attracting a rock star reception. The 62-year-old widow was the star of a sold-out show in Memphis.

Every song he sang he put his heart and soul into it.

And it's hard to have a favourite song

because just when you say, "Oh, this is my favourite," then you hear another song and go, "Oh God, this is my favourite." Elvis Presley was just 42 years old. Time now for our weekly check of conditions in the snow field and joining us now from Thredbo is Simone Smith. Simone, how are conditions looking for this weekend?

There is a looking good appear There is a looking good appear in

the mountain's but a snarly changed

his heading out today.

Banners smiles all round damson I

will stick around until Saturday. I

have to see here. To the NRL and North Queensland will be without Sione Faumuina for the rest of the season after a disappointing night at the judiciary. The forward was found guilty of a grade two reckless high tackle on Luke Priddis earning him seven weeks on the sideline. I'm disappointed for one. I thought we had a good case to answer. Wasn't to be. I'm still in shock. Faumuina was quick to apologise to both the fans and his team-mates after the verdict was handed down. Hawthorn's Campbell Brown has been fined $15,000 for misleading the AFL tribunal. Brown admitted he lied to help West Coast skipper Chris Judd get off an eye-gouging charge. Half of the $15,000 will be suspended after the Hawks and the AFL met to slug out this case. Oh, look, disappointed that the AFL have felt

that the message they want to send to the broader playing group has to be delivered by way of a fine rather than, for example, a reprimand and a suspended fine. But that said, Campbell has held his hand up, he's apologised, and we're just now keen to move on. Brown has been charged for misleading the tribunal in the Chris Judd case when he claimed he was not eye-gouged. Yeah, I did. And then did you feel he let you down in the aftermath of that hearing? Not such much - he obviously wanted to get off, I wanted him to get off, everyone wanted him to get off. And Hawthorn has been slugged $50,000 for videotaping the match between the Bulldogs and St Kilda. Half has been suspended after they apologised. At Essendon, James Hird's farewell campaign is on hold after being forced to leave the track with more calf problems. It's just not ready, you know? It's just not ready, and I'll be ready next week. And Collingwood skipper Nathan Buckley will return to football this weekend via VFL affiliate Williamstown. Ian Cohen, Ten News. A spectacular strike from Andriy Voronin has secured Liverpool a 1-nil away win over Toulouse in the first leg of their Champions League third round qualifier. Voronin rifled the winning goal home just before half time. Liverpool keeper Pepe Reina was kept busy in the second half but the Reds held on to take command ahead of the second leg on August 28. Time for our final check of finance and how is the day shaping up for local investors? Bill, the Commonwealth Bank announced a record profit but it came with warnings of another rate rise. A former Macquarie Bank executive over a major cocaine conspiracy. Ian Chalmers originally got 5.5 years in a drug importation plot for his role involving corrupt Sydney airport baggage handlers. The crown appealed

and he'll now serve 12 years with an 8 year non-parole period. And that's all the news in finance. Now for a look at the national weather and for the rest of the day.

A 40-year-old postal worker has just become Britain's biggest-ever lottery winner. Single mum Angela Kelly scooped the jackpot, netting almost $85 million. She's Britain's biggest-ever lottery winner, a down-to-earth single mum. Accompanied by Camelot minders, this was a low-key entrance to a life-changing moment for the postal worker who's now a record-breaking multi-millionaire. Angela Kelly only realised she'd scooped the jackpot when she went into work at the beginning of the week. It took colleagues double-checking her numbers to confirm she'd won. Angela's son John is understandably camera shy. On his wish list some new computer games. His mum has treated herself to a manicure. She says a new car, home and holiday will be on the cards. With her ?35 million win still sinking in, she says she's undecided what to do with the rest. Now as rich as Wayne Rooney and Jordan this stunned winner is adamant money can't buy happiness. she's taking her new wealth