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Ten Early News -

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(generated from captions) This program is captioned live.

Just when you thought the dust had

settled on the mining tax row, the

bitter dispute looks set to

reignite with three of the major

today. players holding a battle meeting

It's 6am, Thursday October 21. Good

morning everyone. I'm Ron Wilson.

And I'm Frank Colletta. Also making

headlines - joy for many farmers in

the east as the drought is declared

over. But the west is still on

course for one of its driest years on record.

And in sport, another painful loss

for Australia's cricket team. This

time going down to India by five wickets in the one dayer.

And then in the business world,

annual results day for Network Ten

just hours after it switches over

to a new major shareholder. But

will the numbers add up for

Packer? billionaire businessman James

Packer? billionaire businessman James

day: And the first weather check of the

The bitter tax war between

Australia's minding giants and the

Gillard Government is in danger of

flaring again. Three of the key

players are meeting today, furious

the Prime Minister wants to back

agreement. away from a key part of the tax

Rio Tinto's $3.1 billion Pilbara

iron expansion means 2,000

construction jobs plus 1,000 new permanent positions once complete.

But it was founded on the mining

tax agreement signed on July 2. And

that's the basis of our commitment.

The larpblest mining project that

Australia has ever seen. Rio boss,

Sam Walsh, the first of the big

three signatories like Xstrata and

BHP Billiton the first to speak out

warning the Prime Minister of

reneging on the deal. We're

expecting Government to deliver on

the promise. If you can trust the

Government, who can you trust? The

agreement prevents double taxing,

stipulating royalties paid to State

governments will be credited

against the new Federal resources

ren tax. We've said all along we'll

credit existing royalty and

scheduling increases. What about

future rises? We would not be

giving a green light to State and

Territory governments to increase

royalties with us effectively

footing the bill. The Premier

unimpressed. The State will always

preserve the right to collect that

selling price or royalty and we'll

preserve the right to change the

royalty up or down in the future.

More evidence, say WA industry

groups, the MRRT must be dumped all

together ahead of next year's

National Tax Summit. It was a bad

idea when it was thought of. It's

still a bad idea.

Farmers across NSW are rejoicing

with an official announcement

expected today that the decade-long

drought has officially broken.

Above average rainfall across the

State has quenched parched paddocks

and topped up dams to break free

from the big dry. At its peak in

2003, 99.5% of the State was

drought-declared, but it's not all

rosy for farmers who still have to

contend with the worst locust

plague in 30 years.

Meantime, WA is still on course for

one of its driest years on record,

despite a heavy burst of rain

yesterday. Just over 8mm of rain

fell in Perth which also recorded

wind gus of up to 70km/h.

An emotional trib ought has been

paid to the fallen soldiers in the

war in Afghanistan. On the second

debate, independen parliamentary day of the Federal parliamentary

debate, independent MP Andrew Wilke

called for the immediate withdrawal

of the troops. He read out the

names of the 21 soldiers killed on

duty. You died serving your country,

and I salute you. Mr Wilkea former

intelligence analyst, says pulling

out would not see America cut ties

with Australia because it needs our

spy basses. The Greens, who called

for the debate, said the war was

unwinnable. Most other speakers

supported our role in Afghanistan.

Foreign Minister Kevin Rudd wants

to up the ante when it comes to

Australia's overseas aid. In a

speech to a Australian Council for

International Development last

night, Mr Rudd called on non-

government organisations to work

with the government. Australia has

allocated $4.3 billion to aid this

financial year. An increase of $530

million on the previous year.

extraordinary attaas launched an A gooft minister has launched an

extraordinary attack on a national

newspaper claiming it is trying to

undermine the national broadband

network. Communications minister

Steven Conroy has accused The

'Australian' of making up stories

to bash the plans has part of a

tantrum over the outcome of the

election. They are determined to

destroy the National Broadband

Network in the eyes of Australians

because it was an important factor

in us winning Government. Senator

Conroy also accused the newspaper

of losing its way.

WA's Police Commissioner is poise

today announce the fate of two

officers involved in a bizarre

taser initialliation ritual. An

investigation was launched after

claims the pair used the weapons on

new recruits at Rockingham Station

earlier this year. They were stood

down at the time, but the sergeant

and senior constable could be

sacked. They should never misuse

weapons and certainly shouldn't

play around with them. So if they

suffer as a consequence, so it be:

It comes as there is an inquiry It comes as there is an inquiry

into the misuse of tasers against

Kevin Spratt in the East Perth lock up.

Police procedures for the use of

tasers in NSW are being tightened.

Frontline officers are being told

not to use the weapon in non- threatening situations. Earlier

this month, a man died after being

tasered during a domestic dispute

in Sydney's west.

The mother of the Melbourne

teenager shot by police has

criticised her family's treatment

by the Victoria force. On the

second day of an inquest into 15-

year-old Tyler Cassidy's death,

Shani Cassidy said police tried to

find dirt on her son and secretly

taped the conversations with her.

She was the first witness to give She was the first witness to give

evidence. The inquest continues today.

NSW MPs are being urged to back a

permanent drugs injecting centre in

Sydney's King's Cross. The

midically-supervised centre opened

on a trial basis in 2001. Legislation is now before

Parliament to make the facility a

fixture. Premier Kristina Keneally

says the centre has saved lives and

reduces the risk of disease.

Sports news and more pain for the

Australian cricket team. This time

going down to India by five wickets

in the second one dayer. It looked

promising earlier for the Aussies.

Michael Clarke sent Billy Bowork

den ducking for cover, and Cameron

White was equally damaging. He

smashed 9 from 49 balls. -- 89 from

49 balls. That's got him in the 49 balls. That's got him in the

nostrils. Chasing 290, Mackay

struck with just the second

delivery, but a stunning tonne and

an unbeaten 71 helped India reach

the target with five wickets and

seven balls to spare.

The Brisbane Roar remains in second

place on the A-League table after

beating the Central Coast. Matt

Mackay fired a warning shot in the

woodwork, but minutes later, the

home side had the lead.

COMMENTATOR: What a goal. They said

that he doesn't score many. What

about that one? The match finishing

on a high for the Roar thanks to a

stunning second goal. The

celebration from the home side was celebration from the home side was

almost as impressive as the goal itself.

It's believed Clive Churchill

medallist Darius Boyd will be left

out to make way for Lote Tuqiri.

The 31-year-old was only called in

to replace the injured Haan haip

but is now set to become a --

Jarryd Hayne but is now set to

become a triple international. I

know from experience in the past,

it's very physical. They're going

to be very passionate on Sunday.

Nate Myles and Tom Leroy Lars are

expected to make the side.

Frank Colletta has all of the

finance news and one particular set

of results out today which suddenly

becomes quite important.

What might they be? Yes, Network

Ten will release the annual results

today just hours after James Packer

emerged as the group's new major

shareholder. The billionaire has

spent nearly $300 million securing

18% of the network, but it's

believed he may increase that

interest to 19.9%.

A shareholder notice lodged with the straimyan Stock Exchange after

the market closed shows James

Packer increased his stake in

Network Ten to nearly 18%. He

snapped up 178 million shares for

$280 million. This is an incredible

opportunity. The market has been

done u but it is now on the rise up. done u but it is now on the rise up.

We're forecasting growth up to over

10%. Sport is believed to be the

driving force with rugby league,

AFL and cricket broadcast rights up

for auction within two years. The

billionaire also has a controlling

interest in consolidated media,

which is a major back-up of Fox

Sports. It will be a very good

combination and over the next

couple of years, with this strategy

and Ten ends up being the prom nan

sports network. Thrashing out the

rules of what sports must remain on free-to-air television and

ministers were surprised by the

shock raid on Ten.. It was news to

me. I read it online. So no, he

didn't call or advise me. I can't

speak for Julia. I was not vieed

and obviously saw the reports this

morning. Sport accounts for the top

40 programs on free-to-air

television and makes up the top 30

on pay television. The Government

denies the media mogul knows the

umpire final ruling and simply

wants a foot in each camp. He is a

player on the pay TV side of the

debate, so he is conscious of the

discussions, but the Government

hasn't made a final decision yet.

Mr Packer has already made $8

million on the investment in just a day.

Woolworths has reported a solid, if

slow start to the year. The first

quarter figures show sales of just

under $14 billion which represents

one of its lowest quarterly growth

rates in a decade. Analysts are

worried about the impact of an

ongoing price war with rival Coles.

Let's check Wall Street and

American stocks have added more

than 1% on the back of stronger

earnings and outlooks from the

industrial sector. The Dow Jones is

currently up and the NASDAQ adding

27. Mining companies helped to push

the FTSE slightly higher. Tint the adding 2.7%.

Other major European market hs

stronger days too, debate weak bank

results. The shock of China's first

rate rise in just three years.

Top well, a perfect start to the

day for the weather:

Newspaper headlines this morning.

The 'Age' is reporting on a new

alliance of Victorian schools to

set aside resources to tackle

homophobia in the classroom.

The 'Daily Telegraph' says that ten

years of the big dry has been

broken with not an inch of NSW still in drought.

And the Adelaide Advertiser proves

you can teach an old dog new tricks

with 94-year-old Joseph Doyle

preparing to sit his Year 12 Australian history exam.

Well, he lived through most of it.

He should know it!

Still ahead, the mega moggy. He

proves he's the cat with the cream

when it comes to breaking records.

Find out how the feisty feline is

up-to-scratch when we return.

This program is captioned live.

You're with Ten News. Our top story

this morning. The Government says

it won't walk away from its

promises despite the battle lines

being redrawn over the

controversial mining tax. BHP

Billiton, Rio Tinto and Xstrata

will meet today to consider

abandoning the planned mineral

resources rent tax. Julia Gillard

brokered a deal with the mining

giants in July, but they're now

accusing the Government of going

back on the deal. It comes as BHP

Billiton reports stronger than

expected quarterly production

figures with record output from the petroleum division.

A second Queensland coal gas site

has been contaminated with cancer-

causing chemicals. The eight

contaminated wells are located in

the Surat Basin near Miles 340km

west of Brisbane. Tests are due

back by the end of the week.

Three months after they appeared at

the coal project, the same cocktail

of toxic chemicals have been

detected at eight coal gas drill

sites. It's worth billions to

Queensland and local communities

where concerns are deepening. I

personally done know what was done

or how they came about the design

of the wells in the beginning

anyway. Who was involved at all?

The company involved is Australia

Pacific LNG. My expectation is that

we'll find the source, we'll

understand it and we will manage it.

Australia Pacific LNG says the

chemicals can occur naturally and

are used in the gas extraction

process. While the exploration

companies are vowing to keep

everyone in the information loop,

including locals here in neighbouring Chincere in

neighbouring Chincilla, not all of

the information is up for disclose

closure. We asked the company for

the exact location of the

contaminated drill sites and they

won't tell us. The regional mayor

says he was just happy to be

included in the contamination alert.

It's a great opportunity to show

the transparency, which they have.

There are now independent assessors

on site at the eight contaminated

sites, conducting retestinging.

Environment groups say that they

want a complete moratorium on the

entire seam pending more research. Australia's big tobacco companies

are preparing to mount a huge push

against the Government's plan to

introduce plain packaging for

cigarettes. The industry has lodged

freedom of information requests in

a bid to get their hands on

thousands of official papers dating

back to the early 1990s. This

includes all documents relating to

smoking since Labor came to Government in 2007.

The family of Queensland champion

jockey Stathi Katsidis are making

plans for his funeral to be held

next week. Tributes continue to

pour in for the racing star who has

been honoured with a minute's

silence at Eagle Farm. Riders also

wore black arm bands to pay tribute

to the jockey. 31-year-old Katsidis

was found dead in his Brisbane home

on Tuesday morning. Police are

awaiting autopsy results to

determine the cause of death.

The British Government has unveiled

the harshest spending cuts in

decades. Nearly 500,000 public

sector jobs will go. New chancellor

George Osborne has slashed the

country's comprehensive welfare

system and the State's pension age

has been raised to 66.

Somehow, you just know that George

Osborne was always the cleverest

boy at school, but the question

here tonne is whether his statement

today was really very smart, or

just a little bit too clever. The

average saves in departmental

budgets will be lower than the

previous government implied. 19% previous government implied. 19%

versus the 20% Labour had planned.

Doing it quicker does mean that you

pay less interest, but mainly, it

is due to the extra targeting of

the welfare budget. He announced

today another round of cuts there

that will save a further $7 billion. that will save a further $7 billion.

Removing child benefit from higher

earners announced at the Tory

conference will save $2.5 billion

much more than thought. Some

incapacity benefits will be time

limited, saving $2 billion. The

working tax credit will be frozing,

saving opinion 625 million. And the

state pension age now rises to 66.

At a time when we were at war, it

was noticeable that the Foreign

Office's Budget was cut by 24% and

defence by 7.5%, but spending on

overseas aid is set to rise by a

whacking 37%. Millions of people

will be affected. The only question

- do you agree with him? But

fundamentally, there was no choice.

Protesters have blocked France's

busiest airport in the latest

demonstrator against government

plans to raise the retirement age

to 62. The striking workers shut

down the surrounding streets and

filled the terminal at Charles de

Gaulle Airport. Riot police were

waiting as protesters forced their

way through the line.

Officers responded with tear gas

and were able to control the crowd.

The French senate will vote on the reforms later today.

A new top cat has been crowned in

the US. Stuey, the main couldn't,

has claimed the Guinness world

record for being the world's

longest domestic cat. He measures

just a cat's whisker over 123cm

from the tip of his nose to the tip

of his tail bone. That's just over

four feet in the old money. His

owners say that he's a very relaxed

gentle giant and the record is

unlikely to go to his head.

Connections of Cox Plate contender

Shootout will dedicate the horse's

run on Saturday to the memory of

Stathi Katsidis. Corey Brown will

ride the four-year-old, replacing

Brisbane's premier jockey who died

on Tuesday. I'll be out there

riding for him and his family and

doing the best job that I can. He

was a being part of Shootout and

helped to make him the racer he was.

I'm sorry that he's not here for it.

Stathi Katsidis had partnered Shatout. Brisbane lines lines chief

executive Michael Bowers has left

the club after nine years in the

job. They agreed to part company

after a tumultuous year. He says

the timing is right. Effective

immediately, as Angus said, the

board and I sat down together and

we've reached an agreement about

the separation. So I think in these

circumstances, once a decision is

made to move on, it's important

that you do move on. Former

Richmond CEO Steven Wright will act

as interim chief executive while

the Lions find a new replacement.

A world first for a team of wake

borders from Australia and the

United States. They've taken on one

of the most dangerous of the most dangerous waterways

this giant natural plug hole called this giant natural plug hole called

the Horizontal Water Fall where

there is a water flow of a million

litres a second. The amount of

force going through the gap and the

whole pressure of the ocean ten

metres high trying to fit through a

gap ten metres wide. The wake

borders not only denied the

currents and jagged rocks, but also

had a bit of fun into the bargain.

Shares in Network Ten added more

than 13 cents on the back of news

that James Packer has become the

majority shareholder. Atlanta

midday, the group will publish the

annual results. Let's speak to Nick

Walter at Macquarie Private Wealth.

It's going to be a very interesting

announcement considering the events

of the past 24 hours. Yeah,

certainly management and the

chairman of Network Ten will be

slightly more nervous with James

Packer on the register. And it

seems to be a well-timed move by

James Packer and he's notorious for

well-timed moves. Looking at the

Ten shares when they were trading

at the lowest price for 12 months.

Speculation in the last 24 hours has centred on James Packer's

interest in being involved in the

AFL broadcasting rights, and that's

something that is going to take

place over the next 12 months and

something that he's missed out on

over the last five years. It's been

a big year for Network Ten.

Obviously a change of ownership,

but also the Commonwealth Games and

also an election year. But we do

think that there will be slightly

declining revenue and slightly

declining profit compared to

previous years. Elsewhere, woollies

has announced first quarter results.

Dare I say, sweet or sour?

Woolworths provides consistent

results to the market and yesterday

was no exception. We saw 4.1% sales

growth, but what was interesting

was that it wasn't necessarily

price growth, it was volume growth.

And that really indicates that

there is low inflation in the

Australian economy at the moment

and that correlates with the

economic data that we're seeing and

also what we're hearing from the

Reserve Bank. So no surprise there.

In terms of overnight markets, the

US market rebounded last night up

about 150 points just before the

close. So our market will rebound

on that. The US market is holding above 11,000.

Now, just days after suggesting it

will increase interest rates

independent of any RBA decision,

the wealth bank has confirmed it

will cut 88 jobs. The workers from

the bank's Adelaide Mortgage

Services Is unit will be out of a

job just three weeks before list

mass. I think it is a bit of a kick

in the guts, actually. I don't

think that it shows any respect to

the customers. It shows an absolute the customers. It shows an absolute

disregard to customer loyalty. The

CBA has reaply reported a profit of CBA has reaply reported a profit of

$6 billion and a 75% pay rise for the CEO.

We've got oceans of blue sky across

most of the country today:

Plenty still to come on Ten News,

including an extraordinary war of words.

Plus a tearful tribute to the

fallen troops. Lots more news ahead

on the other side of the break.

This program is captioned live.

Headlines every 15 minutes on Ten News.

Just when you thought that the dust

had settled on the mining tax row,

the bitter dispute looks set to

reignite with three of the major

players holding a battle meeting today.

Joy for many farmers in the east as

the drought is declared over, but

the west is still on course for one

of its driest years on record.

And in sport, another painful loss

for Australia's cricket team. This

time going down to India by five

wickets in the one dayer.

And then in finance, annual results

day for Network Ten just hours

after it switches over to a new

major shareholder, but will the

numbers add up for billionaire businessman James Packer.

The bitter tax war between

Australia's mining giants and the

Government is in danger of flaring

up again. Three of the key players

are meeting today - furious the

Prime Minister wants to back away

from a key part of the tax agreement.

Tint tipt's expansion means 2,000

construction jobs plus 1,000 new

permanent positions once complete.

But it was founded on the minding

tax agreement signed on July 2.

And that's the basis of our

commitment to the largest mining

project that Australia has seen.

The Rio boss is the first of the

three signatories including Xstrata

and BHP Billiton the first to speak

out, warning the Prime Minister

against reneging on the deal. We're

expecting that the Government will

deliver on the promise. If you

can't trust the Government, who can

you trust? The agreement prevents

double taxing, stipulating that

royalties paid to State governments

will be filtered against the my ral

resources tax. We've said all along

we'll credit existing royalties and

schedule increases. But what about

future rises? We would not be

giving a green light to State and

Territory governments to increase

royalties with us effectively

footing the bill. The State will

always reserve the right to collect

that and will reserve the right to

change that royalty either up or

down in the future.

More evidence, say groups, the MRRT

must be dumped all together ahead

of next year's national tax summit.

It was a bad idea when it was

thought of. It's still a bad idea.

Official results are expected today

that the decade long drought has

officially broken. Above average

rainfall across the State has

quenched parked paddocks and topped

up dams to break free from the big

dry. At the peak in 2003, 99.5% of

the State was drought declared, but

it is not all rotzy for farmers who

still have to contend with the

worst locust plague in 30 years.

Meantime, WA is still on course for

one of its driest years on record,

despite a heavy burst of rain

yesterday. Just over 8mm of rain

fell in Perth which also recorded

win gus of up to 70km/h.

An emotional tribute has been paid

to our fallen soldiers in the war

in Afghanistan. On the second day

of the Federal Parliament debate,

Independent MP Andrew Wilke called

for the immediate withdrawal of our

troops. He read out the games of

the 21 soldiers killed on duty. You

died serving your country and I

salute you. Mr Wilke, a former

temple analyst, says that pulling

out would not see Australia cut

ties because they need the spy bays.

The Greens, who called for the

debate in the first place, said

that the war was unwinnable and

most others supported the war in of a ach.

Foreign Minister Kevin Rudd wants

to up the ante when it comes to

Australia's overseas aid. In a

speech to the Australian council

for international development last

night, Mr Rudd called on non-

government organisations to work

with the Government. Australia has

allocated $4.3 billion to aid this

financial year - an increase of

$530 million on the previous year.

A Government minister has launched

an extraordinary attack on a

national newspaper claiming it is

trying to undermine the national

broadband network. Communications

minister Stephen Conroy accused The

'Australian' of concocting stories

to bash the plans. They are

determined to destroy the national

broadband network in the eyes of

Australians because it was an

important factor in us winning

government. Senator Conroy also

accused the newspaper of losing its way.

Wsm A's police commissioner is

poised to announce the fate of two

officers involved in a bizarre taser initialliation a bizarre

taser initialliation ritual. An

investigation was launched after

claims that they used the weapons

on new recruits at Rockingham

Station earlier this year. They

were stood down at the time but the

sergeant and steenior constable

could be sacked. They should never

misuse weapons and certainly

shouldn't play around with them. So

if they suffer in the consequence,

so be it. It comes as police

conduct a fresh inquiry into the

misuse of tasers by officers

against Kevin Spratt at the East Perth lock-up.

And police procedures for the use

of tasers in NSW is being targeted.

Frontline officers are being told

not to use the weapon in non- threatening situatpon in non-

threatening situations. Earlier

this Monday, a man died after being

tasered during a domestic dispute

in Sydney's west.

Victoria police are searching for a

driver who smashed through the wall

of a house and into a child's

bedroom before fleeing. Witnesses

say that a white van crashed

through a fence south-east of

Melbourne before coming to rest

inside the room. The child was not

in the bedroom at the time. It was

in with his parents and that

probably saved his life. And police

hope that witnesses will help to

piece together the cause of a crash

on the Tullamarine freeway

yesterday which claimed the life of a 34-year-old motorcyclist.

The mother of the Melbourne

deepageer shot by police has

criticised her family's treatment

of the family by the Victoria Force.

On the second day of the inquest

into 15-year-old Tyler Cassidy's

death, she says that police tried

to find dirt on her son and

secretly taped conversations with

her. She was the first witness to give evidence. The inquest continues today.

NSW MPs are being urged to back a

permanent drugs injecting centre in

Sydney's King's Cross. The

medically supervised injecting

centre opened on a trial basis back

in 2001. Legislation is now before

Parliament to make the facility a fixture. Premier Kristina Keneally

says the centre has saved lives and

reduces the risk of disease.

In sport, more pain for the

Australian cricket team. This time

going down to India by five wickets

in the second one dayer. It looked

promising early by the Aussies,

though. Skipper Michael Clarke said

that Billy Bowden ducked for cover.

And Cameron White was equalling

damaging. He smashed 89 from 49

balls. That's got him on the

nostrils. Lucky he's in the medical

bay. Chasing 290, Clipt Mackay

struck with just the second

delivery but with a stunning tonne

and an unbeaten 71 helped India

reach the target with five wickets

and seven balls to spare.

No The Brisbane Roar remains in

second place. Matt Mackay had an

early warning shot, but minutes

later, the home side had the lead.

Comment comment what a goal! They

said that he doesn't score many,

but what about that one? He was

finishing on a high for the Roar

thanks to a stunning second goal.

The celebrations from the home side

almost as impressive as the goal itself.

It's believed Clive Churchill

medallist Kris Boyd will be left

out of the Kangaroos side will be

left out to make way for Lote

Tuqiri. The 31-year-old was obl

only called in to cover for the

injured Jarryd Hayne. He's said to

start on the wing. The Aussies play

Papua New Guinea on Sunday. I know

from experience in the past, it's

very physical. And it's going to be

very passionate on Sunday. Debut

ans Nate Myles and Tom Leroy Lars

are also expected to make the side.

More on finance now with Frank

Colletta and it will be ten out of

ten for Ten!

Well, Network Ten will release the

annual reresults just hours after

James Packer emerged as the group's

new major shareholder. He's spent

nearly $00 million securing 18% of

the network but he may be about to

increase it to 19.9%.

A shareholder notice lodged with

the Australian Stock Exchange after

the market closed shows James

Packer increased his stake in

Network Ten to nearly 18%. He

snapped up 187 million shares for

$280 million. This is an incredible

opportunity. The market has been

down, but it is now on the rise up.

We're forecasting growth of up to

10% next year ahead of that. Sport

is believed to be the driving force

with rugby league, AFL and cricket

broadcast rights up for auction

within two years. The billionaire

also has a controlling interest in Consolidated Media,ing interest in

Consolidated Media, which is a

major backer of Fox Sports. It will

be a very good combination and over

the next couple of years, if Ten

ends up being the eminent sports

strategy. The Federal Government is

thrashing out rules for what must

be on free-to-air television and

ministers were surprised by the

shock raid on Ten. It was news to

me. I read it online. So no, he

didn't call, didn't advise me. I

can't speak for Julia. I was not

advised and obviously saw the

reports this morning. Sport

accounts for 14 of the top programs

on free-to-air television and makes

up the top 30 programs on pay

television. The Government denies

the media mogul knows the umpire's

final ruling and simply wants a

foot in each camp. He is a player

on the pay TV side of the debate,

so he is conscious of the

discussions, but the Government

hasn't made a final decision yet.

Mr Packer has already made $8

million on his investment in just a day.

Woolworths has reported a solid, if

slow start to the year. The first

quarter figures show sales of just

under $14 billion, which does

represent one of the slowest

quarterly growth rates in a decade.

Analysts are worried about the

impact of an ongoing price war with rival Coles.

We'll check wall straet and

American stocks have added more

than 1% on the back of stronger

earnings. The Dow Jones is

currently up 153 and the NASDAQ has

added 27. Mining companies helped

to push the FTSE slightly higher as

we heard in the earlier story, Rio

Tinto adding 2 opinion 7% after

approving a $3 billion iron ore

expansion. Other markets had

stronger days too despite weak bank ruts there:

There is the weather forecast on

the screen:

Still ahead - a tale of truly publical proportions.

Saddle up for the spectacle of the

slay who took on the empire. We'll Funding cuts, had the Australian War Memorial thinking about closing its doors one day a week. A senate committee heard the news yesterday, while representatives were being questioned over the

Government's efficiency. The Memorial has since found the needed funds, but

fear other activities may be at risk. Liberals Senator Gary Humphries says he was shocked to hear the news. Greens M-L-A Caroline Le Couteur has attacked Planning Minister, Andrew Barr, for his refusal to promptly implement solar access rights. Le Coulter says Barr spoke in favour of the A-C-T adopting a target of 40% greenhouse gas reduction by 20-20.. But says his stubbornness yesterday has probably set the implementation of solar access rights back two years. She says it's hardly the urgent action that is needed. Raods around Narrabandah and Griffith are being resealed today, as part of the A-C-T Government's road resealing program. Hamelin Crescent, Allen Street and Walker Crescent in Narrabundah will be worked on. While La Perouse street in Griffith is getting some work done, weather permitting. Motorists are being advised they may experience short delays, and should take a different route if possible. AND, Australian band, the Whitlams will headline the free entertainment at this year's New Year's Eve celebrations in the city. Locals can welcome in 20-11 to songs like Blow up the Pokies and No Aphrodisiac. Acting Chief Minister Katy Gallagher says new Year's Eve is always a special occasion in Canberra, and the Government has again ensured that everyone in the community can enjoy the party. TO SPORTS NEWS NOW, and, after impressing selectors at the Masters Carnival, seventeen Canberrans have been named in All Australian teams. A-F-L masters A-C-T president Peter Leeson says the players deserved the all australian selection, particularly David Skuta who was again named the over 45's playing coach. LET'S TAKE A LOOK AT THE WEATHER DETAILS.. Checking the satellite: Cloud is building over the northern interior as moist air feeds a trough, but is not causing rain. Skies are clear elsewhere. Around the country: a foggy start in Canberra, 22. Sunny in Sydney. Possible showers in Brisbane. Closer to you: Showers developing in Dubbo, 25. 22 and sunny in Wollongong. Warmer in Wagga. Showers in Bathurst. 21 and Sunny in Bowral. Some cloud about in Goulburn.

Showers developing in Mudgee, 23. 26 in Parkes. Warm and sunny in Cooma.

Over the next few days in Canberra: A foggy start

This program is captioned live.

Heading Ten News - the Government

say it is won't walk away from the

prom Is despite the battle lines

being redrawn over the

controversial mining tax. BHP

Billiton, Rio Tinto and Xstrata

will meet today to consider

abandoning the planned mineral

resources tax. Julia Gillard

brokered a deal with the mining

giants in July, but they're now

accusing the Government of going

back on the deal. It comes as BHP

Billiton reports stronger than

expected quarterly is production

figures with record output from the

petroleum division. petroleum division.

A second Queensland gas site has

been contaminated with cancer-

causing chemicals. The eight

contaminated wells are located near

Miles 340km west of Brisbane. Test

results are due back at the end of the week.

Three months after they appeared at

the coal gassification project near

Kingaroy, the same toxic chemicals

have been detected at eight gas

drill sites north-west of Miles.

It's worth billions to Queensland

and local communities where

concerns are deepening. I

personally don't know what was done

or how they came about the design

of the wells in beginning anyway.

Who was involved at all? The

company involve sd Australia

Pacific LNG. My expectation is that

we'll find the source, we'll

understand it and it we will manage

it. Australia Pacific LNG says the

chemicals, can occur naturally and

are used in the cold gas extraction

process. While the exploration

company is vowing to keep everyone

in the information loop, including

locals here in neighbouring

Chincilla, not all of the

information is apparently up for

disclosure. With we've asked the

company for the exact location of

the contaminated drill sites, but

they won't tell us. The regional

mayor says he was just happy to be

included in the contamination alert.

It's a great tune to show the

transparency, which they have.

There are now independent assessors

on site at the eight contaminated

sites conducting retesting.

Environment groups say that they

want a complete moratorium on the

entire industry pendsing more entire industry pendsing more research.

Men planning to be fathers are

being warned to be more healthy

before having children. In a world-

first, the University of NSW has

found that male rats on high fat

diets are more likely to have

offspring with heart problems. If

it's true in humans, it means that

a dad's lifestyle at the time of

conception might have a major

impact on his child's risk of

diabetes. If you're a father, it's

better not to be a rat in the first

place! It's the first time that a

father's lifestyle, rather than

genes, have been seen to impact on a child's health.

Petrol fumes could be a thing of

the past with the world's first

mini moc, powered by mulch.

It's a unique concept years years

in the making powered by carbon

based clean fuel, this packs a

pumple. It's just travelled from

Darwin to Cairns with no shortage

of fuel stops on the way. Palms,

twigs, leaves, sticks, we've put

into the gassifier which heats it

up and turns it into fuel. Oz Fuels

is helping mining companies like

Xstrata reuse their waste products.

He says that the same technology

could be used by farmer and

families. Rather than bury it, we

could use it as an energy source to

back feed it with power. Can crude

oil reserves in decline, waste

products may provide a cheap and

sustainable solution. This handful

of bark could power a family car

for more than 5km. The potential

savings could run into the

thousands every year. It is one

idea destined to stay off the scrap heap.

It's a handsome looking vehicle.

If you think that mulch powered

cars are the best thing since

sliced bread, wait until you see

the show that claims to be bigger

than Ben Hur. Well, it is Ben Hur.

It featured extravagant gladiator

battles and it the stadium

spectacular wowed guests at the

dress rehearsal. Narrated by

Russell Crowe, the show will play

to packed audiences on Friday and

Saturday nights in Sydney.

A State memorial service is to be

held for dame Joan Sutherland at

the Sydney Opera House. Australia's

greatest ever opera singer will be

remembered in a service next month

to commemorate her life and her

contribution to the opera and the

arts. Dame Joan died in Switzerland

last week at the age of 83.

The Prime Minister's partner, Tim

Mattieson has put his hairdressing

skills to good use. He was a

celebrity guest basher at the

National Press Club with the task

of removing a flamboyant beard for

charity. It's been a while! The

beard belonged to journalist Peter

Vaness. More than $14,000 was

raised for the Warrick Foundation

which helps young adults battling cancer.

He looked a bit ginger on the clippers!

Connections of Cox Plate contender

Shootout will dedicate the horse's

run on Saturday to the memory of

Sta trgs hi Katsidis. Corey Brown

will ride the four-year-old

replacing the premier jockey who

died on Tuesday. I'll be out there

riding for him and his family. He

was a big part of opinion shootout

and helped to make him a race horse.

I'm just sorry he's not here for it.

Stathi Katsidis partnered Shatout.

Winner Mick gold medallist Lydia

Larcela has won sports gold

performance of the year. She

becomes the third winner Olympian

to win the don. It's a phenomenal

list and you're amongst the best

and the greatest of athletes in

this country. A who's who of Aussie

sport dressed up for the night with

Christie Marshal among the nine

sports stars inducted into the Hall of Fame.

A world first for a team of wake

borders from Australia and the United borders from Australia and the United States. They've taken on one

of the most dangerous waterways -

this giant natural plug hole called

the horizontal waterfall where

extreme tides cause a water flow of

a million litres a second. The

amount of force going through the

gap and you've got the pressure of

the ocean ten metres high and

trying to fit through a gap ten

metres wide. They not only defied

the currents and rocks, they had a

good time

good time doing it too. Shares in

Network Ten added more than 13

cents on the back of the news that James Packer has become the majority shareholder. At midday,

the Group will publish its annual

results. Let's speak to Nick Walter

at Macquarie Private Wealth. It is

going to be a very interesting

announcement considering the events

of the past 24 hours.

Yes, I think that management will

be a little more nervous than usual

with James Packer on the register.

He obviously looms large in the

media industry and famous for his

corporate moves. And the corporate

move earlier this week seems to be

well priceed with the Network Ten

share price trading at close to a

12-month low. It's been a big year

for Network Ten with the launch of

the new sports channel, change of

directors and ownership and also an

election year. So we still forecast

more than $100 million of profit

even with that new James Packer involvement. Woolworths has

announced first quarter results.

Were they tasty treats?. Woolworths

consistently delivers reliable

sales growth numbers. Yesterday, we

saw sales growth of 4.1% and that

was consist an across the divisions.

What was a highlight, though, was

that it wasn't done with price

movements but with volume movements,

so it really does highlight that

there is little inflation in the

Australian economy. That correlates

with economic data we've seen and

also comments from the Reserve Bank.

In overnight markets, the US

markets Republic bounded from yesterday's lossesounded from

yesterday's losses, up 160 points.

-- rebounded from yesterday's

losses, up 160 points. Our market

is expected to jump on the news as well.

Just days after suggesting it will increase interest rates independent

of any RBA decision, the

Commonwealth Bank has confirmed it

will cut 88 jobs in SA. The workers

from the bank's Adelaide Mortgage

Services unit will be out of a job

just three weeks before Christmas.

I think it is a bit of a kick in

the guts, actually. I dop think

that it shows any respect to the

customers and shows an absolute

disregard in terms of customer

loyalty. The CBA has reported a

profit of $6 billion and a 75% pay

rise for the CEO.

To other business news in brief:

That is finance for the moment. As

you said, we'll see if it is ten

out of ten for Ten at midday.

Might even be eleven considering

the news channel! the news channel! Might even be eleven considering

Checking the weather before we go:

morning: Recapping our top stories this

The mining tax is set to heat up

again with three giants of the

mining industry holding emergency

talks. The Government is accused of

reneging on a deal brokered in July.

NSW farmers are rejoicing at news a

decade-long drought has bitten the

dust. Consumers can expect food

prices to now stabilise.

And comuem communications minister

Steven Conroy has launched an

extraordinary attack on the

newspaper. He's accused of

concocting storys to undermine the

national broadband network.

As always, the first 15 minutes of

the program are on the Ten News

website to download. I'm Ron Wilson.

See you again for the next news

bulletin of the.

Thank you for watching. Have

yourselves a great day.

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

MEDIA ACCESS GROUP AT WGBH CAPTIONED BY (PENNY TOOTS HORN)

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