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Ten Early News -

View in ParlView

(generated from captions) This program is captioned live.

The Opposition Leader in the firing

line, Tony Abbott draws flak for

appearing callous about the death

of a digger. It's 6:00am, 9

February, good morning, I'm Ron

February, good morning, I'm Ron

Wilson. I'm Frank Coletta, welcome

to Ten's 'Early News'. Also - the

Defence Force ready to start

reducing the number of Australian

troops in Afghanistan as early as this

this year. In sport - spinner Jason

Krejza gets the call-up for the

Australian World Cup squad. Mike

Hussey and Nathan Hauritz miss out.

reports And then in finance - the NAB

reports better than expected

profits but wants the Government to

back away from imposing more

control. A brief look at the

weather for the day - almost the

same as yesterday:

Tony Abbott's use of an Australian

colloquialism is expected to

dominate Federal politics today.

The Opposition Leader denies

trivialising the death of an

Australian soldier. The Opposition

Leader is in damage control over

comments made in a conversation

Jared MacKinney. about the death of Lance Corporal

Tell me, what's the context. If

it's out of context, what is the

context? Mr Abbott has apologised

to Jared MacKinney's widow for the

remarks. The Defence Force are

reportedly has plans to reduce

troop numbers in Afghanistan by up

to a quarter. Fairfax this morning

says the move for - is for cost

cutting reasons and would mark a

shift in Australia's commitment to

the war. It quotes unnamed Defence

sources saying the troop withdrawal,

which could start next month would

be achieved by sending a smaller

force to relieve the mentoring task

force nah is now in Afghanistan's

Oruzgan Province. The South

Australian Government has sworn in

a new cabinet in the biggest shake-

up sibs the Rann Government took

office. 10 out of -- since the Rann

Government took office. 10

Ministers have new Port folios. All

Minister, all different policitians

bring a different style to things.

I'll have a different style to

Kevin. Mike Rann confirmed he plans Kevin. Mike Rann confirmed he plans

to stay in the top job until the

next election. Council rates are to

rise in Brisbane to help cover a

$440 million flood damage bill. In

the Far North of the state some

sugar cane farmers adding up their

damage bills are giving up.

Residents know all too well the

emotional cost of the Brisbane

flood. Now the financial cost has been

been revealed. The costs are $440

million. We need to balance the

Budget over two financial years and

we'll fight the good fight for the

ratepayers. Council rates will rise

to cover the cost to repair roads.

The CityCat network and river walk.

River walk will cost between 40 and

75, 75 the upper bound. Frankly,

it's a very large number. Some say

the river walk repairs should be

scrapped to cover the damage bill.

Further north the cost is also

becoming clearer for farmers. At

Innisfail so much sugar cane is a

write off. Farms on the coastline

have had most of their crops

flattened. All this is useless. I flattened. All this is useless. I

mean, how many times do you want to

get yourself up off the carpet. At get yourself up off the carpet. At

Port Hinchinbrook Marina divers

have begun recovering wrecked boats have begun recovering wrecked boats

from the bottom of the arena. The

damage bill reaching tens of

millions of dollars. The NSW

election campaign didn't take long

to get nasty. First Liberal Party

advertisement aired last night

showing a montage of past and

present Labor Premiers promising to do

do better. Meanwhile Premier

Kristina Keneally is in trouble for

her 'I'm Sorry' ad. It was filmed

in a police station, and NSW Police

have been issued guidelines warning

officers they are not allowed to be

in election ads. Victorian MPs could

could lose a day's pay under a plan

to improve their behaviour in

parliament. The Baillieu

Government's punishment for

sinbining is getting a mixed

response. Ted Baillieu kicked off

the parliamentary year with a

pledge to get tough on MPs who

misbehave in the chamber. There's

robustness for debate, but there

parliament, institution and the needs to be respect for the

speaker and President. The

Victorian Premier wants to hit them

hard in the hip pocket, pays being

docked several hundred dollars if

they are ejected from the house.

The change will assist in sending

messages that the community expects

high standards. Labor dismissed the

plan as nothing more than a

destruction from the real issues

and an attempt to muzzle the

Opposition. This is crap on top of

crap on top of crap. This is a

cheap stunt used to distract

attention away from the fact that

this is a Government that's broken

election promises already. The man

who polices behaviour in the lower

house, speaker Ken Smith was an MP

most ejected during the Coalition's

days in Opposition. If you are

kicked out you may lose a day's pay.

In the last few years, he would

have been here on a probono basis.

Parliament will debate emotion on

chamber whether MPs ejected from the

chamber can be fined. Court action

to have WikiLeaks founder Julian

Kingdom Assange extradited from the United

Kingdom on rape charges has been

delayed. Julian Assange has been

accused of sexual misconduct by two

women in Sweden, who worked for his

website. The WikiLeaks founder

appeared before a British court but

proceedings have been put on hold

until Friday. Lawyers say it could

be weeks before there is an outcome.

Sports news and forgotten Tasmanian

spinner Jason Krejza will fly to

India with the Australian cricket

team after receiving a call-up. He

and South Australian batsman Callum

Ferguson come into the 15-man squad,

hit hard by injuries. Jason Krejza

could be called cricket's version

of Speed Skating hero Steven

Bradbury, after being cast aside

from the team two years ago and

seemingly forgotten the Tasmanian

off spinner is heading to the World

Cup, after rivals Nathan Hauritz

and Xavier Doherty were tripped up

by injury My phone has been on the

blink. I'm trying to answer a few

calls at once. It's good to have

the support. South Australian

batsman Callum Ferguson comes into

the squad with veteran Mike Hussey

failing to recover from a hamstring

tear. They are big boots to fill.

I'll do my best. The World Cup team

flies to India today, Cricket

Australia at home calls for an

independent review into the Ashes

thrashing. It will be exhaustive,

independent and transparent. The

Board announced redails of a revamp

Twenty20 -- details of a revamped

Twenty20 competition. With eight

teams, two in Melbourne and Sydney.

Regional contender Geelong has been

overlooked. AFL - Saint Kilda

ruckman Justin Koschitzke has been

ruled out of the NAB Cup after

complications with ankle surgery,

he underwent a procedure in October

but was readmitted to hospital

after the wound didn't heel and was

infected. He'll go under the knife

on the weekend and will be off his feet

feet for a fortnight. The Saints

will be without Nick Riewoldt, and

Sam Gilbert, for the preseason

opener next week, with the club

opting to rest them. In just 10

days the footy season returns with

a reconstructed superRugby season

kicking off. It's come a little too

soon for the Queensland Reds, their

preparations hampered by the natural

natural disasters. There are lots

of calls to arms, but, in fact, it was

was happening in the players'

backyards to, themselves and

families and friends. We probably

lost, I guess a week out of our preparation. Newcomers, the

Melbourne Rebels will open their campaign against the Waratahs campaign against the Waratahs

Friday week. Time for the finance news

news with Frank Coletta. You can't

keep a good bank down, they are

back well and truly in the black.

True enough. The story doesn't end. The National Australia Bank

threatened fees and charges will go

up if the Government goes ahead

with plans to increase competition

in the sector, the warning coming

on the same day as the NAB reported

a better than expected $1.3 billion

for the first quarter, up 18%. CEO

Cameron Clyne said the floods and

cyclones in Queensland may delay a

rebound in business credit demand.

Commonwealth Bank is due to release

first-half results today. Our

Government just talks about reining

in greedy banks, the United Kingdom

counterparts have done it. It

introduced a levy on banks

excessive profits, and the move

will raise ?2.5 billion every year.

Bankers and bonuses - not for most

people the favourite words in the

world, unless you are a banker, of

course. The Government knows this

so is increasing and making

permanent the tax on banks and

they'll have to pay an extra ?800

million, not an enormous sum, but

as the Chancellor repeated, he

thinks it's fair. For what I want

the banks to do is pay more taxes,

lend more to small businesses and

pay less bonuss to themselves. The

banks say it's changing the

goalposts, but some say the ?2.5

billion levy doesn't go far enough,

dwarfed by banks profits for 201,

expected to be ?24 billion, and

smaller than the bankers bonuses

set to total ?6 billion. It's

trivial in comparison with the

Government's total Budget deficit.

We have to be careful here. If we

overtax banks, they'll locate

elsewhere. Where this leaves

Project Merlin, discussions between

the banks and Treasury on bonuses

and lending isn't clear. There's no

agreement. When the banks announce

bonuses shortly the public is

likely to be unimpressed. That's

the UK, and Wall Street - US stocks moved

moved into the black as investors

looked past China's lending rate looked past China's lending rate

increase. The blue chips higher by

McDonalds shares, leading the way,

after they reported a better than

expected January sales.

Toyota's better than expected

result lifts the market mood in Asia.

Here is a look at the weather:

Making headlines in the papers

today - 'The Courier Mail' delivers

the bad news that 3,000 Queensland

Rail workers, assured their jobs

were safe, have been told to were safe, have been told to consider redundancy packages.

'Business Day' says the Macquarie

Group applied for banking licences

in Singapore and Hong Kong and is

considering becoming a bank in

India, the un 'The Australian'

claims ACTU secretary Jeff Lawrence

is sidelining new President Ged

Kearney, by restructuring the

organisation in a way giving him

control over key subdivisions and

the 'Sydney Morning Herald' claims

the NSW Government underBudget the

cost of 'Family First' promises.

Tony Abbott agrees stuff happens,

more on the controversy he found

himself in after the break. Are the wheels

wheels turning at Toyota, the big

carmaker reports a drop in earnings,

but says its profit should be

alright. Details when Ten's 'Early News' returns.

Cayman

This program is captioned live.

Headlines every 15 minutes on Ten's

'Early News'. Tony Abbott has

apologised to the widow of an

Australian soldier for an

embarrassing remark he made during

a tour of Afghanistan of the Mr

Abbott's reaction to the comment is

causing concern. Tony Abbott is in

damage control. Comments made about

the death of an Australian soldier

in Oruzgan Province have put him in

the firing line.

Mr Abbott was responding to a US

Colonel who said "No-one person or

thing could be blamed for the death

of Lance Corporal Jared MacKinney".

The Opposition Leader denies he was

being insensitive, he says he was

taken out of context. Tell me what

is the context. If it's out of

context, what is the context?

You're not saying anything, Tony.

It's this reaction that has raised

the most eyebrows, Mr Abbott laid

low last night and refused to

comment on the story. But his

colleagues jumped to his defence. I

know Tony Abbott. He would be

absolutely mortifyed. I know he is.

I was with him. He is mortifyed at

the suggestion that in any way he

was disrespectful of the enormous

sacrifice of an Australian diggerle

Most people in Australia recognise

that Tony Abbott was not in any

respect trying to downplay the

death of an Australian soldier. Mr

Abbott phoned the widow of Jared

MacKinney to explain his remarks,

but Jared MacKinney's father told

Fairfax newspapers the comments

made him feel sick. He described Mr

Abbott as thoughtless, ignorant and

uncaring. Victorian Cross recipient

Corporal Ben Robert Smith was not so

so scathing. It's important to

remember we have the support of the Australian

Australian people, it's bipartisan

throughout the Government and

Opposition. That's all that matters Opposition. That's all that matters

to us. Meanwhile the Prime Minister

has paid an emotional tribute to

victims of the Queensland flood

disaster. She broke down as she disaster. She broke down as she

spoke of extraordinary acts of

bravery and sacrifice. Holding one

of the few items salvaged from the of the few items salvaged from the Queensland floods, the Prime

Minister wept. Of what it means to

be Australian. The courage it takes

to tell your children to run across

the railway line, knowing it's

dangerous, knowing they could fall,

but knowing it's their only hope of

getting to safety. She spoke of

shocking memories etched in the

minds of rescuers, like a mother

who had her child ripped from her

arms. "I looked over my shoulder

and saw her sitting on the floor of

the aircraft and she was devastated.

It was heartbreaking". And one

young man whose legend will live

forever. Jordan Rice, who I think should

should be, to this generation, what

Simpson and his donkey was to earlier

earlier ones. To say to his

rescuers "Take my brother first",

and before the brave rescuer could

return, Jordan and mum Donna were

taken by the flood. The tragedy

brought political enemies together.

Whatever political disagreements we

might have, she has shown a decent

heart. A new Government report says Australia's greenhouse gas

emissions are increasing at a

faster pace than thought. The

Department of Climate Change Department of Climate Change

projects our emissions will go up

by 24% by 2020, 3% higher than

predictions made in a 2009

Government report. It says without

a carbon price steeper rises are

expected. And blames strong export

demand for our coal and liquefied

natural gas. Most of the people who natural gas. Most of the people who

fled their homes in the face of

Perth's bushfires have been allowed to

to return. At least 72 homes were

lost in the blaze, believed to have

been started by sparks from an

ankle grinder. Very sad. We've just

lost everything. There is very

little salvagable. It's all melted.

Devastated. Everything, like,

everything we have - I have grown

up with, photos, everything is gone.

Some residents will have to wait

longer because of the danger posed longer because of the danger posed

by burnt trees and power poles,

electricity is cut to hundreds of

properties. In Queensland Police

divers have begun recovering

wrecked boats from the bot oment of

the Port Hinchinbrook Marina, but

they are not -- bottom of the Port

Hinchinbrook Marina, but they are

not sure how many vessels are under

there and want to make sure of

bodies trapped inside. 40 luxury

yachts and launches were destroyed

by Cyclone Yasi, and the damage by Cyclone Yasi, and the damage

bill is expected to be in the

millions. Emergency surgery failed to

to save a Brisbane man stabbed this

morning. Police were called to a

disturbance at a home in Redbank

before mid-nig where they found the

man, aged in his 30, with stab

wounds. He was taken to the PA

Hospital but died afterwards. Another

Another man is being interviewed by Another man is being interviewed by

police. Dramatic CCTV footing has police. Dramatic CCTV footing has

been released showing the moment a

bus was hit by a semitrailer in Turkey.

Turkey. Passengers could see it

coming. After the impact the bus

skidded on ice, ploughing into a

road sign. 18 were injured, and

taken to hospitals for treatment.

Mike Hussey and Nathan Hauritz are

out of the cricket World Cup with

selectors not willing to gamble on

the injured pair. Their places

taken by South Australian batsman

Callum Ferguson, and the forgotten

man of cricket, Tasmanian off spinner

spinner Jason Krejza. The phone has

been on the blink, so I've been been on the blink, so I've been

trying to answer a few calls at

once the. It's been good to have

the support. The squad leaves for

India tonight. In AFL - Saint Kilda

ruckman Justin Koschitzke has been

hospitalised with an infection

after suffering complications from

ankle surgery, the 28-year-old has

been ruled out of the NAB Cup.

There was no sign of Justin

Koschitzke at yesterday's community

campus his team-mates visited a

retirement home, he was holed up in

the Mercy Hospital. He's been

ordered on to a drip after being

diagnosed with infection in his

ankle. He underwent surgery in

October after needing pain killing

injections. The wound failed to

heel. The ruckman is on antibiotics,

and will be off his feet for a

fortnight. Nick Riewoldt and Sam

Gilbert will miss the National

Australia Bank opener. No problems

for the grig conquerers, Leigh

Brown declaring the -- grig

conquerers, Leigh Brown declaring conquerers, Leigh Brown declaring

they'll be out there to win. We'll

play our best. The Pies take on

Richmond and Carlton. Carlton

downplaying an interclub clash,

between Jarrad Waite and Paul Bower.

As a team you don't like to fight.

It's probably what we have been

taught, about having a fair dinkum

crack, and what event utes event

utes. It's all sorted down there

now. Soccer, A-League and the

Brisbane Roar have had an easy mid-

week win in the Queensland Derby

against the Fury. The minor

Premiers were too slick for bottom of the table North Queensland.

Wonderful nsh. The final score -- wonderful

wonderful finish. The final score

2-1, extending Brisbane Roar's 2-1, extending Brisbane Roar's

unbeaten record to 24 games. US

stocks remain resilient this

morning, China's Central Bank

raised key rates for the third time

since October. Here with the

details is Richard English from

Macquarie Private Wealth. How times

change. It's the case that the days

where China sneezes, the Americans

are at risk of catching a cold. Good

Good morning. Certainly any policy

decision from China has a global

impact, that's for sure. It didn't

take the wind out of the US market.

The economy is moving from recovery

to sustainable growth phase. That, of

of course, is good news for US corp

rates and US home builders

benefitted from anticipated pick-up in demand and McDonald's benefitted

from the fact that people are

finding their menu irresistable.

5.2% up and 7% in Europe. News the

French will struggle to digest. How

is the market shaping up. We'll

follow the lead from Wall Street.

We'll open higher. Yesterday

financial and resource stock drove

us forward and resources - that's

where the action remains. Domestic economic

economic news, consumer confidence

is out. No shock to here that would

have taken a hit on the back of the

ever-increasing cost of living and

the still-live rate threat in the the still-live rate threat in the

future. Richard English from

Macquarie. This is a case of I have

bad news and I have good news. It's

been a tough year for the world's

biggest carmaker Toyota, it

announced a 48% drop in quarterly

profits. On the plus side that was

less than many analysts expected.

And giving a boost to the local

market it raised the full-year

outlook saying cost cutting and

stronger sales predictions should

make sure it earns about $6.6

billion for the year, double

initial forecasts. More than half

of tita's Japanese vehicles were

exported, -- Toyota's jop niece

vehicles were exported making a

loss on the yen. It's good news in the the weather.

A sobbing Prime Minister and a

swearing Opposition Leader, Federal

politics got interesting very fast.

We'll cross to Canberra for the

latest. And the banks say how much

they make is none of the

Government's business, then they go

and announce big profits again. Details when WOMAN: For a cash advance with a simple fixed fee, convert your thinking. Cash Converters.

This program is captioned live.

You're watching Ten's 'Early News',

these are the main story, the

Opposition Leader in the firing

line. Tony Abbott draws flak for

appearing callous about the death

of a digger. Surveillance footage

captures the dramatic moment a

semitrailer hits a city bus in

Turkey, passengers could only watch

as it ploughed towards them. In

sport - spinner Jason Krejza gets

the call-up for the Australian

World Cup squad, and Mike Hussey

and Nathan Hauritz miss out. And

then in finance - the NAB nabs

better than expected profits but

wants the Government to back away

from imposing more control. Tony

Abbott's use of an Australian

colloquialism is expected to

dominate Federal politics, but the

Opposition Leader denies

trivialising the death of an

Australian soldier, Mr Abbott is in

damage controls over comments made

in a conversation about the death of Lance Corporal Jared MacKinney.

Tell me what, is the context? If

it's out of context, what is the

context? Yes, a bizarre

confrontation. Mr Abbott apologised

to Jared MacKinney's widow for thes

remarks. For more on what this

means, I'm joined by Political

Reporter John O'Doherty. Mr Abbott

claims he's been taken out of

context as we saw at the beginning

of that interview. He does, and

says he would never make light of

the death of Australian soldier and

accused Channel 7 of wanting to

create a media circus over the

death of Lance Corporal Jared

MacKinney. The comment happened in

October last year, US Corporal Jim

Creighton was explaining the events

leading up to the death, saying

mistakes were made. That's when

Tony Abbott made the comment. The

Australian Defence Association

defended Tony Abbott saying his

comments have been taken out of

context and Jared MacKinney's wife

Beccy spoke with Tony Abbott and

also agrees that "Yes, it was taken

out of context". Last night Tony Abbott's Liberal colleagues

defended him. Here is what they had

to say. I know when the suggestion was

was made that he trivialised the

death of a bigger, he would be

mortifyed. Absolutely mortifyed.

His instant reaction has been to

ring that digger's widow. The way

he was responding to the soldiers in

in Afghanistan was essentially

there to support them and comfort

them. I think his remarks are

unexceptional and taken out of

context. Well, clearly this issue context. Well, clearly this issue

is overwhelming and is set to

overshadow everything else in

Federal Parliament today. On the

agenda for the house Julia Gillard

will deliver the Government's third

report card into its - on its

efforts into reducing the gap

between Indigenous and non-

Indigenous Australians and Jenny

Macklin will deliver a speech

marking two years since the

devastating Black Saturday

bushfires, it will be interesting

to see if the Government picks up

and runs with the issue of Tony

Abbott's comments. Of course, they

may decide to ignore it so they are

not seen to be poll itisising the

death of an Australian soldier. If

it's not spoken about widely in the

public domain, it will be what

everyone is talking about behind

the scenes. John O'Doherty

reporting live from Canberra. The

Defence Force reportedly has plans

to reduce troop numbers in

Afghanistan by up to a quarter. Afghanistan by up to a quarter.

Fairfax this morning says the move,

for cost cutting reasons, would

mark a shift in Australia's

commitment to the war, quoting

unnamed sources saying the

withdrawal, which could start next

month would be achieved by sending

a smaller force to relieve the

mentoring force in Oruzgan Province.

The South Australian Government

swears in a new Government. 10 of

15 new Ministers have new

portfolios. The new Treasurer

promised a change from his

predecessor's aggressive style.

Ministers, policitians all bring a

new style. Premier Mike Rann

confirmed he plans to stay in the

top job until the next election.

The NSW election campaign didn't

take long to get nasty. The first

Liberal Party advertisement aired

last night showing a montage of

past and present Labor Premiers

promising to do better. Meanwhile promising to do better. Meanwhile

Kristina Keneally is in trouble for

her 'I'm Sorry' ad, filmed in a

police station, and now NSW Police

have been issued guidelines warning officers

officers they are not allowed to be

in election ads. Victorian MPs

could lose a day's pay under a plan

to improve their behaviour in

parliament. The Baillieu

Government's punishment for

sinbinned pollies is getting a

mixed response. Ted Baillieu kicked

off the parliamentary year with a

pledge to get tough on MPs who

misbehave in the chamber. There's always

always robustness in debate. There

needs to be respect for the

parliament, the institution, and

respect for the speaker and the President. President. The Victorian Premier

wants to hit them hard in the hip wants to hit them hard in the hip

pocket, their pay could be docked pocket, their pay could be docked

several hundred dollars if ejected

from the house. The change, that

will assist in sending messages

that the community expects high

standards. Labor dismissed the plan

as nothing more than a distraction

from the real issues and an attempt

to muzzle the Opposition. It's crap

on top of crap. It's a cheap stunt

to distract attention away from the

fact that this is a Government

that's broken election promises.

The man who polices behaviour in

the Loire house, new speaker Ken --

lower house, new speaker Ken Smith

was one of the MPs most ejected. If

you are kicked out and lose a day's

pay, if that's the case, lat few

years he would have been here on a

pro-Bono basis. Parliament will

debate a motion on whether MPs

ejected can by fined. The old and

new have been united in the Star

Wars universe. 6-year-old Max Page

who played Darth Vader in a Super

Bowl ad met the man who played the

role. John Earl Jones says the

Vader did his research following

the original films closely bringing

his mini-me character to life.

There's a black guy fighting Luke

Skywalker. He has it down pat. The

commercial turned the minei Vader

into an overnight superstar

attracting 16 million hits on

Youtube in its first two days.

Forgotten Tasmanian spinner Jason

Krejza will fly to India with the

Australian cricket team after

receiving a World Cup call-up. He

and South Australian batsman Callum

Ferguson come into the 1-man squad

which has been hit hard by injuries.

Jason Krejza could be called

cricket's version of Speed Skating

hero Steven Bradbury, after being

cast aside from the Test team two

years ago and seemingly forgotten,

the Tasmanian off spinner is

heading to the World Cup, after

rivals Nathan Hauritz, and Xavier

Doherty were tripped up by injury.

My phone has been on the blink.

I've been trying to answer a few

calls at once. It's good to have

the support. South Australian batsman

batsman Callum Ferguson comes into batsman Callum Ferguson comes into

the squad, with veteran Mike Hussey failing

failing to recover from a hamstring

tear. They are big boots to fill.

I'll do my best. The World Cup team

flies to India, back home Cricket

Australia calls for an independent

review into the Ashes thrashing.

It's going to be commastive, It's going to be commastive,

independent and transparent. --

commastive, independent and

transparent. There'll be eight city

based teams in a new Twenty20

competition. Regional Victorian

contender Geelong has been

overlooked, two teams in Sydney and

Melbourne. In 10 day's time the

footy season returns with a

reconstructed Super Rugby season

kicking off. It's come too soon for

the Queensland Reds, their

preparations hampered by the

natural disasters. There are a lot

of calls to arms. In fact it was

happening in the players' backyards

to themselves, family and friends.

We probably lost, I guess a week

out of our preparation. Newcomers,

the Melbourne Rebels will open

their campaign against the Waratahs

Friday week. More on finance with

Frank Coletta. We like to see a

battler turn good, especially the

banks. Yeah, they are struggling.

Big profits from the same bank, Big profits from the same bank,

they are wielding a big stick. The

National Australia Bank threatened

to increase fees and charges if the Government increases competition in Government increases competition in

the sector. That warning coming on

the same day that the NAB reported

a better-than-expected $3 billion

for the first quarter, up 18%. CEO

Cameron Clyne said the floods and

cyclones in Queensland may delay a

rebound in business credit demand.

The Commonwealth Bank is due to

release results today. China's Central

Central Bank raised key interest

rates again to put a lid on raging

food inflation. The official

lending rate going up from 5.8% to

6%. The bank raised rates in

October and in December. The move

has been met with some scepticism

in the West. Analysts say the rate

remains below inflation, it won't

have much effect. Looking at Wall

Street: US stocks moving into the

black, investors moving -- --

looking past the Chinese dip.

London at levels not seen since 2008.

Here with the weather forecast:

A bloke looking for a job put on a

huge exhibition with just himself

as the only display. We have that

next. Do you want shares with that.

A golden gain for the golden arches.

Details when Ten's 'Early News'

returns. The first stage of a two hundred thousand dollar upgrade to the lake foreshore is nearly complete. Volunteers have spent the last three months removing weeds from the Westbourne woods foreshore....and have about three weeks left at Weston Park. The government has invested more than a million dollars in weed control for the last period.

The University of Canberra has unveiled a new student card, making all others obselete....the new system means students at the uni, will only need one card for the campus. Students are able to use the card for identification, borrowing books, and shopping both on and off campus.

One hundred and 18 students will be housed at the Lyneham motor inn, after it was taken over by the ANU, because of it's accommodation guarantee to first year students. Lyneham hall will get a makeover, providing a community environment for students, with a head, and deputy head of the hall, to be appointed. Canberran's are being urged to take part in community forums about the future of the ACT's sustainable waste strategy. We're being invited to have our say on the draft strategy that looks at ways households and businesses are able to reduce waste. Minister for the environment, climate change and water, Simon Corbell, has opened up the invitation to attend five community forums, being held over the next two weeks. Parts of the wreckage of the chopper that crashed at the Cessnock air strip are on their way to canberra, to undergo more testing... The Australian Transport Safety Bureau is continuing investigations into last week's crash in the hunter, in which two people died.

And canberra's sporting stars have taken part in a twenty 20 cricket match at Manuka oval, to raise money for flood victims in Queenlsand and Victoria. Brumbies stars, like Matt giteau, and the raiders Jarod Croker also made the game... NOW LET'S TAKE A LOOK AT THE LATEST WEATHER DETAILS.

And the satellite image showing barely a cloud over the southern part of Ne South Wales, with just light showers in the northeast. Canberra will today see another mild summers day for 29, with a clearing shower for Sydney and a top of 26. In the central west, and Dubbo will be sunny with 33, but much cooler in Orange. Wollongong showers and 26. Goulburn and Bowral will both enjoy clear skies once a morning shower has passed. Mudgee on track for a sunny 30... Parkes in the low thirties, and a shower clearing for Nowra. So as we reach the halfway point of the working week, a mainly fine run into the weekend with milder temps (FRENETIC MUSIC) WOMAN: For simple credit solutions, online or instore: This program is captioned live.

Headlines on the quarter hour on

Ten's 'Early News'. Tony Abbott has

apologised to the widow of an

Australian soldier for an

embarrassing remark made during a

tour of Afghanistan. Mr Abbott's

reaction to the comment is causing

concern. Tony Abbott is in damage

control. Comments made about the

death of an Australian soldier in

Oruzgan Province has put him in the

firing line.

Mr Abbott was responding to a US

Colonel who said "No-one person or

thing could be blamed for the death

of Lance Corporal Jared MacKinney".

The Opposition Leader denies he was

being insensitive. He says he was

taken out of context. Tell me what

is the context? If it's out of

context, what is the context?

You're not saying anything, Tony.

It's this reaction that has raised

the most eyebrows. Mr Abbott laid

low last night and refused to

comment on the story. But his colleagues

colleagues jumped to his defence.

But I know Tony Abbott. He would be

absolutely mortifyed. I know he is.

I was with him. He is mortifyed at

the suggestion that in any way he

was disrespectful of the enormous

sacrifice of an Australian digger.

Most people in Australia would

recognise that Tony Abbott wasn't

in any respect trying to downplay

the death of an Australian soldier.

Mr Abbott phoned the widow of Jared

MacKinney to explain his remarks.

But Jared MacKinney's father told

Fairfax newspapers the comments

made him feel sick, and described

Mr Abbott as thoughtless, ignorant

and uncaring. Victoria Cross

recipient Corporal Ben Robert Smith

was not so scathing. I think it's

important to remember we have the

support of the Australian people,

and it's support that is bipartisan throughout the Government and Opposition. That's all that matters

to us. A police pursuit ended in a

dramatic smash in Melbourne's west

overnight. The car with three

people on board took off after

police noticed it driving

eratically in Bacchus Marsh. Is

turned down a side street,

colliding with a parked car. It

mounted the kerb, hit a tree,

forced a car into the tree. Two men

were arrested after walking

unharmeded from the smash. The

driver is expected to be charged.

Emergency surgery failed to save a

Brisbane man stabbed early this

morning. Police were called to a

disturbance at a home in Redbank

before midnight where they found

the man aged in his 30s with stab

wounds. He was taken to the PA

Hospital but died afterwards.

Another man is being interviewed by

police. Council rates will rise in

Brisbane helping to cover a $440

million damage bill. In the north

of the State, sugar cane farmers,

adding up the bill for themselves

are giving up. Residents know all

too well the emotional cost of the

Brisbane floods. But now the

financial cost has been revealed.

The costs are $440 million, we need

to balance the Budget over two

financial years and we'll fight the

good fight for the ratepayers.

Council rates will rise to cover

the cost to repair roads. The

CityCat network and river walk.

River walk will cost between 40 and

75, 75 the upper bound. It's a very

large number. Some say the river

walk repairs should be scrapped to

cover the damage bill. Further

north the cost is becoming clearer

for farmers. At Innisfail, so much

sugar cane is a write-off. Farms on

hundreds of kilometres of coastline

had most crops flattened. All this

is useless. I mean, how many times

do you want to get yourself up off

the carpet. At Port Hinchinbrook

Marina police diverse have begun to

recover boats from the -- divers

have begun to recover boats from

the bottom of the areener, the

damage expected to reach tens of

millions. Most of the people that

fled their homes in the wake of

Perth's bushfires have returned. 72

homes have been lost, believed to have

have been started by an ankle

grinder. Very sad. We lost

everything. There's little

salvagable, it's all melted.

Devastated. Everything, like, we

Devastated. Everything, like, we

have - I have grown up with, photos,

everything, is gone. Some residents

will have to wait longer because of

will have to wait longer because of

the danger posed by burnt trees and

power poles, electricity is cut to

hundreds of properties. Dramatic

footage has been released showing

the moment a city bus was hit by a

semitrailer in Turkey. The

passengers could see it coming but

could do little about it. After the

impact the bus skidded on ice,

ploughing into a road science. 18

were injured. An unemployed French executive

executive has gone to great lengths

to get himself a job. Alain Gutton

hired out a 5,000 square metre haul

to host a jobs fair, the only

attraction him. The one-man event

his way of showing employers his

ability to think outside the square.

The marketing manager secured

sponsorship and media coverage, but sponsorship and media coverage, but

no word as to whether it paid off.

English actress Liz Hurley jetted

into Melbourne for a rendezvous with

with squeeze Shane Warne. Liz

Hurley touched down on a flight

from David Arquette, she kept a low

profile as she was whisked -- on a

flight from Abu Dhabi, she kept a

low profile as she was whisked to

Warnie's mansion. Teams were busy

preparing his mansion. The king of

preparing his mansion. The king of

tweak even had a new mattress

delivered. Mike Hussey and Nathan

Hauritz are out of the cricket World

World Cup with selectors not

willing to cam ble on the injured

pair of the -- gamble on the

injured pair. Their places taken by

Callum Ferguson, and Jason Krejza,

the forgotten man of Australian cricket

cricket The phone has been on the

blink. I've been trying to answer a

few calls at once. The squad leaves

for India tonight. AFL and Saint

for India tonight. AFL and Saint

Kilda ruckman Justin Koschitzke has

been ruled out of the NAB Cup after

complications with ankle surgery,

the 28-year-old undergoing the

procedure but readmitted to procedure but readmitted to

hospital after the wound didn't

heel and became infected. He'll go

under the knife on the weekend and

be off his feet for a fortnight.

The Saint will be without Nick

Riewoldt and Sam Gilbert for the

preseason opener, with the club

opting to rest them. A-League and

Brisbane Roar had an easy mid-week

win in the Queensland derby against

the Fury, the minor Premiers too the Fury, the minor Premiers too

slick for bottom of the table North

Queensland. The final score 2-1 to

Brisbane, extending their

unbetteren record to 24 games. --

unbeaten record to 24 Games. Tiger unbeaten record to 24 Games. Tiger

Woods upped his lead at the

Friendly Challenge Golf Cup. Tiger

Woods, and Mark O'Meara beat the team

team of Lee Westwood, and Miguel

Angel Jiminez to take out the claim.

Tiger's form comes days ahead of

the Dubai Desert Classic, featuring

top classic including Martin kaimer,

and Lee Westwood, who was the

player that took Woods' No.1

ranking. US stocks are up this

morning as China's Central Bank

raised key rates for the third time

since October. Here with the

details is English from Macquarie

Private Wealth. These days, when

China sneezes the rest of the world

could catch a cold, it seems.

Absolutely. Chinese policy

decisions have as far as reaching

implications. That news didn't take

the wind out of the sales of US

markets of the US markets

reflecting the fact that its own

economy is moving from recovery to

stablising. US home builders

benefited from anticipated pick up

in demand and McDonald's benefiting

from news that more people are

finding its menu pleasing. Sales up

5.3%, and 7% in France. How is our

market shaping up. Almost destiny

that we'll follow leads from Wall

Street. Yesterday it was financials

and resources driving us forward.

From our perspective the resources

is where the action is. Consumer

confidence due for release. I don't

expect a first prize to say that

will take a hit on the back of the

cost of living. There's a fear of

future rate rises. English from

Macquarie Private Wealth. Hearing aid manufacturer Cochlear reported

a 16% rise in net profit for the first

first half. Dulux CEO Patrick

Houlihan admits wet whether put a

dampener on Dulux's sales and volumes. Super Fund Australian

Super announced a $40 billion

merger with WA's biggest industry

fund. That is

fund. That is West Scheme. That is

all in finance. A check of the

weather: hang on, let's do the websites. 'The Guardian' reports lawyers

lawyers for a British businessman

who is accused of hiring a hit man to

to kill his wife in Cape Town are

trying to stop his extradition. To

Moscow and the 'The Moscow Times' -

Russian airports to be fitted with

metal detect tors and screening in

the wake of the bomb og. And the

governor will build a sea wall off

the showers, in 'The Jakarta Post'. Now the showers, in 'The Jakarta Post'.

Now a check of the weather:

These were the top stories dash the Opposition

Opposition Leader in the firing

line. Tony Abbott draws flak for

appearing callous about the death

of a digger. Meantime the Defence

Force is reportedly ready to start

reducing the number of Australian

troops in Afghanistan as early as

this year. And Brisbane continuing

to count the costs of the floods.

Council rates to rise to help pay

the damage bill of $440 million.

And that's it for Ten's 'Early

News', I'm Ron Wilson, the first 15 minutes

minutes of this bulletin are on the

Ten website. I'm folt. Join us --

I'm Frank Coletta, join us later with

with '6pm With George Negus' and

the evening news. Have a great day.