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Ten Early News -

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(generated from captions) Athens to protest pension cuts.

Furious farmers protest the Murdoch

draft plan. And the chairman of one

of the big banks asks the pollies

to back off. Details when Ten's

Early News. Notorious Gold Coast

con man Craig Foster has been

released on bail after managing to

raise a $125,000. Foster's was

released from the Brisbane

correctional centre. In the weight-

loss industry. Under the conditions

of his release, he won be able to

leave without permission. He must

adhere to a sur few and report

daily to police. Furious residents

in the NSW town of Griffith have

promised to continue their fight

against water cuts under the draft

plan for the Murray Darling Basin.

Tony Burke. One of the two men

claiming to be Papua New Guinea's

Prime Minister has ordered 200

police to secure government

Sir buildings being used by his rival

Sir Michael Somare. Port Morseby

Vladimir Putin, Putin.

Disturbing foot age has been

released of the Taliban training

new recruits they call inviteed the

Associated Press to the film the

hooded recuts being taught to fight

in a deserted village near the

Afghan border. And the nominees are

Hollywood is gearing up for another

glamorous awards season, as the

front-runners to receive Golden

Globes are announced.

Many of their grieving families

wailed in the treats calling for

justice. Illegal liquor operations

flourish in the slums popular among

alcohol. those who can't afford sanctioned

Well, it was a happy dash back into

the sea for 40 little blue penguins

in New Zealand. The birds had all

been rescued slicked with oil

following the catastrophic spill

with the container ship 'Rena'

breached off the coast of Tauranga.

After being cloned up and nursed

back to help they were finally let

loose, racing to get back into the

ocean. This was the last group of

the rescued penguins to be released.

Sport newss and a flamboyant

Englishman dressed in purple is the

outright leader of the Australian

Masters golf tournament. Dean Polo

carted a 6-under 65 to lead Ashley

Hall by a stroke. World No. 1 Luke

Donald is two under while defending

champion Stuart Appleby teed off

despite a back injury. The day

defending started with drama for the

defending champion, a last-minute

fitness test for Stuart Appleby

pushing his injured back through

the pain barrier withmy help that

he could and then letting officials

know he was right to go. His

morning session finished at one

under the card with a 70 coping his hopes

hopes alive. Also in the early

groups world No. 1 Luke Donald who

completed a solid two under.

Englishman Dean Polo put his name

on top of the leader board with an

opening Round 6 under 65. From

purple to green and Nathan produced

the shot of the day leaving the

putter in the bag after this effort

on the par fourth third.

COMMENTATOR: This could nearly go

in. This could be in. Yes! (Laughs).

Not related but also firing was

Richard Groan who produced this

approach at the second. Peter

Senior is flying the flag for the

veterans, out of the bunker and

back in the game while Italian

teenager had a tough day with a

couple of rare highlights.

COMMENTATOR: Oh, that landed right

next to flag, but it screwed back

about 25ft down the groan. After a

controversial night Allenby was

struggling to find his way. He did

occasionally redeem himself. Plus-

size His one get out of Yale card

used. While Allenby has claimed the

Triple Crown, that man chasing that

slice of history Greg Chalmers had

channelled in that almost per fbtly.

He made a couple of great scrambles

so far. Tonight, one of the biggest

ventures in domestic cricket

history will get under way with the

opening of the Big Bash League. The

clock also be wound back with

former Test team-mates with Brett

Lee, Stuart Macgill and Matthew

Hayden all taking part. While

national Hayden has called for calm from the

national selectors, saying it takes

time for young players to develop.

A lot of guys at 28, 29 actually

come into the game. That is why I

don't grow with Greg Chappell's youth

youth policy. Oo I think it takes a

long time to master your game and

to learn about it. The Sydney

Sixers take on the Brisbane Heat in Sydney tonight.

Time for the morning's finance news

now with Natasha Exelby. Tash, good

morning to you. Look, it is

obviously the biggest time of the

year for retailers loading up to

Christmas. JB Hi-Fi, what is wrong,

they are not smiling? Far from it,

Ronnie. They surprised the market

by forecasting a pre-Christmas

downgrade. Profits of a-m period

until the end of December will be

5% down on last year. The company

is blaming price discounting among

retailers trying to clear tock for

the drop in profit. Its policy of

any mashed prices is coming back to

drop it with television ratings

dropping up to 285%. More trouble

for the embattled euro zone.

Hungary and the Czech Republic

won't ina treaty of tackling the debt

debt crisis if it means giving up

their independent tax policies. It

comes as large demonstrations

across Europe were held over

austerity measures. In Greece,

thousands of angry pensioners

protested. A small scuffle broke

out between an elderly man and

police as they descended on

Parliament. Parliament was

negotiating terms of the second

massive rescue packages. People

protested outside of Parliament and

they are aim angry about trying to

get their finances under control.

Despite these problems the US

stocks are trading higher this

morning and we have the Spaniards

to thank for. That Spain success

play auctioned off some solid debt

and that certainly calmed some

nerves in Europe. The Dow Jones is

up 80 points and the Nasdaq 7.

Across-to-Europe, the FTSE and the

CAC and dack made gains, following

da that hoeing that inflation will

remain steady which means there is

more room for a rate cut. The

contrast could not be more stark in

ashe, though. The Hang Seng was

obliterated, but it is likely to

rebound well off the back of

Europe's gains overnight. To the

commodities and oil is trading

steady. Gold is also steady. To the

currency crosses and one Aussie

dollar bows US $0.9 and 76 euro

cents. Our market closed in

negative territory yesterday. If we

go on the results out of Europe, it

does look like it will be a positive

positive end to the week. Good on the

the Spaniards. Ole. Still ahead,

furious farmers protesting the

Murray Darling Basin draft plan.

And the chairman of one of the big

banks ask the polys to back off. Details

Details when Ten's Early News

You're watching the Early News on

Ten. Ian Molly Meldrum is fighting

for life in hospital after

suffering critical injuries after a

fall in his Melbourne hope hefp was

handing decorations for a weekend

Christmas party when he fell. He

suffered head and chest injuries.

Meldrum underwent surgery overnight

and was placed in an induced comb

many. Doctors say that the next 24

hours will be critical in Molly's

recovery. Peter Foster has been

released on bail after maining to

raise a $125,000 surety. Foster was released released from Brisbane Correctional

Centre late yesterday to care for

his sick mother. He's been in

custody since last month and was

charged over breaching a court

order banning him from the wait

also industry. Under the conditions

of his release he won't be able the

leave Queensland without permission,

he must adhere to a curfew and

report daily to police. Fours you

residents in the NSW town of

Griffith have promised to continue

their fight against water cuts

under the draft plan for the Murray

Darling Basin. They believe

slashing allowances by almost 3,000

gigalitres is not the best way to

save the river.

The final nail in the coffin.

Griffith in mourning, wearing black

arm bands, the whole town shut up

shop. Around 12,000 people lamented

again the proposed water cuts under

the Murray Darling Basin scheme. A

big depression over our head the

that is just weighing down like

that. In steps Tony Abbott.

(CHEERING AND APPLAUSE) He

He hopes he will be their save your

and Britain their town back to lift.

We can't put more water into the

river for environmental purposes in

ways that destroy your livelihoods

and damage these communities. (CHEERING AND APPLAUSE)

The concept of going back to not

having massive food production in

the area is something that known

wants. Simply rejecting the plan

won't make the problem go away.

Dams, more water infrastructure,

they are pleading for anything to

stop the cuts. Even young ones are

wondering if the Government cares.

You are destroying my happy life

and that is just not fair. You can

feel the intensity of the raw emotion

emotion simmering away here in the

room. It is anger, confuse,

frustration, it is also sadness and

depression, but one thing that

these people have is resilience and

they have promised to fight this

until the end. Yet another fight is

the last thing the struggling government needs.

One of the two men claiming to be

Papua New Guinea's Prime Minister

has ordered 200 police to security government government buildings being used by

his rival Sir Michael Somare. There

are fears the stand enough could

soon spark violence on the streets

of Port Morseby. The country fell

into political chaos on Monday when

the Supreme Court ordered Sir

Michael's re-instatement following his return from health leave.

Russian Prime Minister Vladimir

Putin has defended the country's

recent election on national

television speaking at a call-Intel

vision show Putin insisted the

December 4 Parliament tpri poll was

a reflection of the people's will

and independent fraud. They claim

that the bolt box stuffing was to

strengthen its own position. Mr

Putin says he welcomes the rise in public public activity, but has accused

the organisers of paying some of those participating.

Disturbing footage has been

released of the Taliban training

new recruits which think call

"trainee suicide bombers".

Pakistani militants invited the

associated press the film the

hooded recruits being taught to

fight in a disefforted vilaudge

near the Afghan border. Affidavit

one point they stage the mock

capture of a man dressed as a

Pakistani soldier. Recruits are

shown how to fire machine guns and

missiles. The nominees are... Well,

Hollywood is gearing up for t

another glamorous award season as

the front runners to receive Golden

Globes are announced. 'The Artist',

a silent black and white flick is

leading the charge with six

nominations, including best motion

picture. 'The Help', a civil rights era

era story about servants in the US also

also picked up five nods, as did

the comedy drama 'The Descendants',

starring Clooney colon. The winners

will be announced on January 15th.

Men will not be getting hot under

the collar in Chile any time soon

in a bid to save energy. The

Government has launched a novel ad

campaign encouraging men to strip

off their ties. It believes the

more relaxed look will lessen the

nobody for air conditioning, as the

energy-strapped nation enters

another sweltering summer. Chile

suffered a massive power blackout

earlier this year.

A two-month stand-off between the AFL

AFL and its players is over with

both parties finally growing to a

deal. The five-year agreement will

net the players more than $1

billion with the average football

player to earn more than $300,000

by 2016. It took most of the year,

there was plenty of argy-bargy and

both sides lost some and won some.

The players had to forego their co

plank. Disagreement isn't based on

a guarantee per cent of revenue,

but we have brought in other

mechanisms, I goes to ensure the

player has a chance to share in the

upside of the game. But they did

win a form mall review of the deal

after four years. If the game grows,

the game is in great shape, above

this, which is forecast, that the

players are in a position to share

in that. The AFL gets certainty in

the wake of the NBA lockout it

can't be underestimatesed. The deal

unequivocally establishes that AFL unequivocally establishes that AFL

football is the best career choice

for any aspiring athlete. Among the

things it delivers, almost 900 jobs.

The player also certainly be well

looked after. The average wage in

five years will be over $300,000.

The minimum rookies' wage rises to

$57,000 and clubs can pay more than

they want.

The clubs must pay a minimum of 95%

of the salary cap which can climb

to over 10milyon until 2016 and

they are boasting the best

retirement fund in sport.

Former AFL hardman Barry Hall has

admitted he is nervous about

stepping into the boxing ring for his

his first professional fight. Hall has

has just begun the next chapter of his

his sporting career, but insists it

is not just a publicity stun. I am

not here for a money grab. I am

here the fight real fighters. I am

serious about this. It will not be

a circus. The 34-year-old has

months of training ahead of him

before he commits to a debut fight

date and hasn't ruled out a

showdown with rugby star Sonny Bill

Williams. More on finance now with

Natasha Exelby. Westpac has already

hinted it might not pass on any

more interest rate cuts and now NAB

has jumped on board? It only takes

one, Ronnie. Michael Chaney backed

up that position at the bank's

annual shareholders' meeting. He

hit back at the fierce attack on

banks by politicians. Australia's

major banks are tiring of being cast

cast as ql villains" with

politicians leading the jeers. It

is very disappointing that all parties

parties in Federal Parliament see

it as being in their interest to use

use banks as a political football.

Treasurer Wayne Swan led the chorus

of protest when Australia's big

four hesitated before passing on

this month's interest-writ cut. NAB

chairman Michael Chaney total his

company's annual meeting in

Adelaide that a $5 billion bottom

line is really just midfield

compared to the profitability of

Australia's other big companies.

Their criticism invariably draws on

the contention that banks make

superprofits and have no right to

increase interest rates. Well, that

contention is simply not true. The

chairman says instead of

politicians scoring points by

bashing the banks, he'd like to see

some MPs have the courage to tell

the other side of the story. I

think there is room for political

leaders to take the economic high

ground. We need strong, security,

profitable banks. The ANZ recently

Sid it wants to set its own

timetable for interest-writ chains

without regard to Reserve Bank

moves. Westpac has also indicated

it might not pass on all future

rate cuts. NAB was more guarded,

but the message is clear. Banks

moving in loin with the RBA is not

the normal appear ration. The banks

say the impact of the rising cost say the impact of the rising cost

also have to be addressed in the

next 6-12 months. Time for a check

of what is making news on Wall

Street. Alexis Christoforous is

joining us live from Wall Street.

Alexis, good morning to you in the

US. Stocks are trieding higher this

morning. What is driving that? Well,

we've got a number of better than

expected economic reports to put

investors in a good mod today.

First up, jobless claims. Fewer

Americans filed for unemployment

benefits last week. The overall

number now is at a 3.5-year low. It

shows that lay-offs are easing. The

job market is slowly, but steadily

improving. We also found out

inflation appears to be under

control. We got a pretty good

report out on manufacturing as well

and a new trade group now believes

that retail sales will be even

stronger than expected. So for a

chain, some good news to hang our

hat on to. Yes, that is great news

about the jobs. There is this

disturbing census figure out today

that shows middle class in America is

is shrinking. It certainly is. Yeah. That

That is a sobering statistic. We

found out from the census bureau

that nearly half of all Americans,

one in two, are either living in

poverty or scraping by on earnings

that classify them as low income. For

For example, a family of four here

is considered low income if they

earn about $45,000 a year and

certainly not good news for

President Obama, as he heads into

an election year. That's ended on a positive

positive note. Let's hope the low

record interest rates will spark

the housing market again? That's

right. Once again, mortgage rates

in this country are back at record

lows. The 30-year rate now at 3.9-

4%, the 15-year rate, which is

popular for people lobbing to

refinance is at 3.21. That, too, is

at a record. You would think this

you could jump start the housing

market, but it hasn't because a lot

of phobes are having a hard time

getting loans. The banks have made

lending standards so it to that

many people would would have

qualified just a couple of years

ago now are not and that is a huge

problem for the housing market here.

Back to you. Alexis Christoforous

on Wall Street, thank you. Briefly

to some other business news now.

ANZ admits it could take weeks to

fix its online statement service

after a security glitch left

customers' transaction details

accessible to outsideers. Orica

expects to increase its profits

despite shut-downs costing $4

million a week. Investors have

chosen not to throw more money at

Bluescope steel with just half of

its right issues being snapped up.

National weather details on your screen.

Next in Ten's Early News - Molly

Meldrum recovering in hospital with

critical injuries after a severe

fall at his Melbourne home. And

I'll have the latest from the

world's financial markets when the

Ten's Early News returns. Stay with

us.

You are with Ten's Early News.

These are o our main stories this

morning - Molly Meldrum is in an

induced comb many and fighting for

lifr after undergoing surgery

following a heavy fall at his

Melbourne home. After nearly nine

years, the war in Iraq is

officially over. Troops have

lowered and retired the US flag

during a ceremony in Baghdad. In

sport, a two month stand enough

2010 the AFL and its players is

over with both parties finally

agreeing to a deal that will net

the players more than a billion

dollars. In finance, Hungary and

the Czech Republic join Great

Britain in opposing the latest

treaty to rescue the euro. Ian

Molly Meldrum is fighting for life

in Melbourne after suffering

critical injuries dur a fall at his

Melbourne home. The icon of the

Australian music industry has

underagain surgery and has been

placed in an induced coma. The

distincttive walls of Molly

Meldrum's home flanked by blans as

crews fought to save his life. He

was handing decorations at his

Melbourne hope when he fell uhm to

3 metres, suffering a collapsed

lung and multiple broken bones.

Close friend and colleague Mark

Klemens said that the next 24 hours

will prove crew shall. Injuries to

his chest area and head region, he

was rushed to hospital here at the

Alfred. He's in an induced coma.

He's in a critical condition. But

obviously the next 24 hour also be

crucial to see where things lie. It is

is believed Meldrum wasn't

breathing when he was found by his

gardener. He was transported to

hospital where he was played in an induced

induced coma and underwent emergency

emergency surgery. He sustained a

pretty heavy hit when he fell and the

the doctors are obviously working in

in earnest. Social media has been

flooded with messages of support

from stars and friends in the music

industry. Russell Crowe said: Danni Minogue said:

While her sister Kylie tweeted:

Meldrum's family and close friends

remain by his bedside.

Police are at a Brisbane primary

school which has been severely

damaged by fire overnight. The

Eagle Junction Primary School was well

well alight when fire fighters were

called around 1 o'clock this morning. The administration building and the library were

destroyed in the blaze, which is

being treated as suspicious. It is

a pretty awful thin to have

something like this happen to your

-- thing to have something like

this happen to your school.

Personally, you always feel as

though this is not a good thin.

Nearby residents were told to cope

their doors and windows shut --

keep their doctors and windows shut

due to the large amount of smoke in

the area. A couple will face court following

following a high-speed police chase.

A high-performance Ford was found

speeding along a freeway north of

Sydney. It is alleged the couple

abandoned that vehicle and hijacked

aBMW at that point. The chase LAed

for more than an hour. Officers

used road spikes and rammed the BMW

to bring the ordeal to an ind. A

handgun was reportedly found -- to

an end. A handgun was reportedly

found near the scene. Pay rises for

politicians and top public servants

has been unveiled. The frontbench's

incomes are set to jump by around

$0,000. This is what a lifetime

gold pass locked like, designed for

a gentlemen's fob pocket to provide

25 first-class train trips. It is

morphed no free air travel for 300

former ministers. They get to keep

it. Today' bunch will miss out. The

lurks and the perks are taken away.

Cashed-out and bothed the base rate

will rise to 185,000. The

Opposition lower up, but for the

first time his front bench

ministers colleagues recognised. Shadow

ministers $90,000 better off. When

you see nurses and teachers having

to fight for a measly increase and

you see these politicians... There

is never a right time for this and

so there has to be a time. And just

as a story breaks about

controversial Labor MP Craig

Thomson cutting and pasting much of

his report on a $24,000 study tour,

the tribunal plans to ditch the

perk. The special mince of state is

confident Tony Abbott will say

"yes" to the legislative chains

needed for the pay rises. The rare

bipartisanship, though, want

appease all voters. No, not on.

Absolutely independent on. I think

it is really unfair.

After nearly nine years, the war in

Iraq is officially over. Troops

have lowered and retired the flag

of US forces Iraq during a ceremony

in Baghdad. In Army tradition, flag

was wrapped in camouflage, formally

casing it. US Defense Secretary

Leon Panetta flu in for the

occasion and total troops they

leave Iraq with lasting pride. The

war cost America $800 million --

$800 billion and claimed the live

of 4, 500 US soldiers. The 400 US

troops still in Iraq will be home

French by the end of the year. Former

French president Jacques Chirac has

been found guilty of embezzling

public funds. The court found that

he created fake jobs to illegally

finance the Conservative Party

while he was the mayor of Paris. Chirac

he Chirac defys any wrong-doing, but

he didn't take part in the trial

after doctors determined he suffers

from severe memory lapses. Chirac

was given a suspended -- suspended

two year-year prison sentence. He

is the first lee tore be convicted since

since the World War II era. 142

people have been killed in eastern

India after drinking a toxic batch

of boot leg liquor laced with

methanol. Dozens other people have

for been raced to hospital and tweeted

for poisoning. Most of the victims

are rickshaw drivers, labourers and

hawkers. Many of their family

members wailed in the street

calling for justice. Illegal liquor

operations flourish in the slums,

popular among those who can't

afford sanctioned alcohol. It was a

happen cry dash back into the sea

for 40 new little blue penguins in

New Zealand. The birds has been

rescued slicked with oil following

the catastrophic spill when the

container ship 'Rena' breached off

cloned the coast of Tauranga. After being

cloned up and brought back to

health they were finally let loss

and they raced back into the ocean.

This was the last batch of penguins

to be released.

Well, a tphrmboiean English man

dressed in purpose principle is the

outright leader of the Asutralian

Masters Golf Tournment. Dean Polo

posted 6 down -- Ian Poulter posted

6-under 65. Luke Donald is two

under while defending champion

Stuart Appleby teed off, despite a

back injury. The day started with

drama for the defending champion -

Stuart a last-minute fitness test for

Stuart Appleby, pushing his injured

back through to pain -- through the

pain barrier with any help he could

and then letting officials know he

was right to go. His morning

session finished at one under the

card at 70, keeping his hopes alive.

Also in the early groups world No.

1 Luke Donald completed a solid two

under. Ian Poulter put his name on

top of the leaderboard with an

opening Round 6 under 65. From

purpose principle to green and

Nathan produced the shot of the day

levelling the put Professor Ehrlich

in the bag after this effort on the

par four third.

COMMENTATOR: This could nearly go

in. This could be many. Yes!

(Laughs). Not related but also

firing low is firmer champ Richard

Green When approached this approach

in the second. Peter Senior is

flying the flag for the seniors,

back from the bunker and back in

the game. This Italian teenager had

a tough game with a couple of rare

highlights. It landed next to flag,

the but it screwed back about 25ft down

the green. After a controversial

fort night Robert Allenby was

struggling to find his A gape. He

wasted chances on the Groans, but

he occasionally redeemed himself.

One get-out-of-jail card used.

While Allenby has claimed the

Triple Crown, the man chasing that

slice of history Greg Chalmers had

channelled in almost perfectly.

He's made a great couple of

scrambles so far. Tonight, one of

the biggest ventures in domestic

cricket history will get under way

with the opening of the Big Bash

League. The clock also be wound

back with former Test team-mates

Brett Lee, Stuart Macgill and

Matthew Hayden all taking part. While

While Hayden his called for calm by

national selectors saying it takes

time for young players to develop.

A lot of guys at 28, 29 actually

come into the game. That is why I

don't agree with Greg Chappell's

yaht policy. I think it takes a

long time to master your game and

to learn about it. The Sydney Sixers

Sixers take on the Brisbane Heat in

Sydney tonight. Australian Jason

Finlay has won the season ending

boredy boarding tour event in the

candlelight vigil. The Sydney

school teacher -- in the Canary

Islands. He boat Gold Coaster Mitch

Rawlins. I triedmy hardest the whole

whole comp. It some how paid off. I am

am stoked. Someone there was very

excited for hip. Pierre-Louis

Costes, Tash, won the world title

with what he described as the wave

of his life in the quarterfinals.

Tash back with us. Christmas is

around the corner, but JB whyfy is

doing it tough. They are, but it

may mean cheap TVs for you, Ron.

They have forecast a pre-Christmas

downgrade. Profit for the 6 month

period until the end of December

will be 5% down on last year and

the company is blaming price

discounting among retailers trying

to clear stock for the drop in

profit. It policy of merchandising

any marked price has come back to

bit it with the price of

televisions dropping by up to 25%.

Hungary and the Czech Republic

won't join a new European Union treaty

treaty aimed at tackling the debt

crisis if it means giving up their

country's independent tax policies.

It comes as large demonstrations

were held throughout Europe over

austerity measures. In Greece,

thousands of angry pensioners hit

the streets of Athens to protest

pension cuts. A small scuffle break

out between an elderly man and

police as the group desented in

Parliament. The Prime Minister was

negotiating terms of a second rescue package. Meanwhile, in Italy

fire fighters protested outside of

faerlt, angry over an austerity

package aimed at persuading markets

that the party can get this

financial crisis under control. If

we look at the markets, despite

those problems, US stocks are

trading higher this morning. We

have the Spaniards to thank for

that one. They successfully

offloaded some solid debt and that

calmed some nerves in Europe.

The contrast could not be more

stark in Asia, though. The Hang

Seng was obliterated, but it is

likely to rebound well off the back

of Europe's gains overnight. To the

commodities and oil is trading steady.

Gold is also steady. To the

currency crosses and one Aussie

dollar buys 99 US cents and 66 euro

cents. Our market closed with sharp

losses yesterday, predominantly in

the mining sector, but on the back

of those early figures coming ou of

Europe, it looks like we will have

a positive end to the week.

Here is a weather check. Mostly

sunny in Brisbane today. Top of 25

degrees.

Till ahead, furious farmers protest

at the Murray Darling Basin draft

plan. And the chairman of one of

the big banks tells the pollies to

back off. Details when Ten's Early

News returns. See you then. What's power to me? Keeping my team tight. It's not easy, though. I captain a cricket team in India, but we only play 2 months of the year. Rest of the time, we're scattered all over the world. Vodafone helps me keep the team together - texts, emails, even the odd phone call. But, seriously, these blokes have got no idea about time zones. That phone's going off at ridiculous hours! We're investing a billion dollars in our new network to bring Canberra better coverage, faster data speeds and stronger signals than we've ever had before.

Power to you. Vodafone.

This is the Early News on Ten. Otto

Perez Molina moll is foiging for

life in hospital after suffering

critical injuries in a fall at his Melbourne

Melbourne home. Meldrum was hanging

decorations for a weekend Christmas

party when he fell. He was found by his

his guard mer and he believed that

Meldrum was not breathing. He has a

collapsed lung and broken bones. He

underwent surgery overnight and has

been placed in an induced coma.

Doctors say that the next 24 hour

also be critical in moll Molly

Meldrum's recovery. Gold Coast con

man Peter Foster has been placed on

bail after failing to raise

security of $25,000. He was

released from the Brisbane Correctional Centre late yesterday

the care for his mother. He's been

in custody charged with court

orders to do with banning him from

the wait also industry. He must

adhere to a curfew and not leave

Queensland and report daily to

police. Furious residents in the

NSW town of Griffith have promised

to continue their fight against

party cuts under the draft plan for

the Murray Darling Basin. They

believe/ing allowances by almost

3,000 gigalitres is not the best

way to save the river. The final

nail in the coffin. Griffith in

mourning, wearing black armbands,

the whole town shut up shop. Around

12,000 people lamented against the

proposed water cuts under the

Murray Darling Basin Scheme. A big

depression over our heads that is

weighing down like this. In steps

Tony Abbott. They hope he will be

their save your and Britain they

town back to life. We can't put

more water -- and bring their town

back to life. We can't put more

water into the river for

environmental purposes in ways that

destroy your livelihood and damage

your communities. (CHEERING)

The concept goes back to not having

food production in the area is

something that no-one... Don't

listen! Simply rejecting the plan

won't make the problem go away. But

pleading for anything, dams, more

praers, anything to stop the cuts.

Even young ones are wondering if

the Government cares. You are

destroying my happy life and that

is just not fair. You can feel the intensity

intensity of the raw emotion

simmering away in the room. It is

anger, confuse and frustration and

also sadness and depression. One

thing these people have is

resilience and they have promised

to fight this until the end. Yet

another fight is the last thing

that the struggling government needs.

Disturbing footage has been

released of the Taliban training

new recruits which they call

"trainee suicide bombers".

Pakistani militants invited the

Associated Press to film the masked recruits

recruits being taught to fight in a

deserted vilaudge near the Afghan

border. At one stage they stage the

mock capture of a man dressed as a

Pakistani soldier. They are also

shown how to fire machine guns and

missiles. And the winners are...

James Goldrick are being announced.

The 'The Artist' a silent black and

white flick is leading the charge

with six nominations, including

best motion picture. 'The Help', a

pre-civil rights-era story about

servants in the US has picked up

five nods, as did the comedy drama

'The Descendants', starring colon

Clooney. The winners will be

announced on on15th. Men will not

be getting hot under the collar in

Chile any time soon. In a bid to save

save energy, the government has

launched a novel ad campaign,

encouraging men to strip off their

ties. It believes the more relaxed

look will lessen the need for air

conditioning as the energy-strapped

nation enters another sweltering

summer. Chile suffered a massive

power blackout earlier this year.

A two month stand enough between

the AFL and its players is over

with both parties finally growing

to a deal. The 5-year agreement

will net the players more than $1

billion with the average footballer

to learn more than $300,000 by 2016.

It took most of the year, there was

plenty of argy-bargy and both sides

lost some and won some. The players

had to forego their key plank.

Disagreement is not placed on an

agreed per cent stage of revenue

but we have brought in other

mechanisms to make sure the players

have a chance to share in the

upside of the game. But they did

win a formal review of the deal

after three years. If the game

grows, the game is in great shape,

above that, which is forecast, that

the players are in a position to

share in that. The AFL gets

certainty in the wake of the NBA

lockout it can't be understimed.

The deal unequivocally establishes AFL

AFL football as the bester choice

for any aspiring young athlete.

Among the things that it delivers,

almost 900 jobs. The players will

certainly be well locked after. The

average wage in five year also be

over $300,000, the minimum rookies'

wage rises to $57,000 and clubs can

pay more if they want. The clubs

must now pay a minimum of 95% of

the salary cap, which will climb to

over 10milyn by 2016 and both

parties are boasting the best

retirement fund in sport.

Former AFL hardman Barry Hall has

admitted he is nervous about

stepping into the boxing ring for

his first professional fight. Big

bad Barry has just begun the next

chapter of his supportinger, but

insives it is not just a publicity

stunt. I am independent here for a

money grab. I am here -- I am not

here for a money grab. I am here to

fight real fighters. I am serious

about this. It will not be a circus.

The 34-year-old has months of

training ahead of him before he

commits to a debut fit date and

hasn't ruled out a showdown with

rugby star Sonny Bill Williams. But

it is not a circus. (Laughs).

Natasha Exelby is back with us.

Westpac said it and now the nab nb

is backing them up saying they

might not pass on any interest rate

cuts in full? Yes and the rest will

no doubt follow. Michael Chaney

backed up that position at the

bank's annual shareholder meeting.

He also hit back at the fierce

attacks on the banks from our

politicians. Australia's major

banks are tiring of being cast as

villains, but politicians are

loading the jeers. It is very dis--

Are leading the jeers. It is very

disappointing that politicians in

Federal Parliament are loading the

jeers. The big fur hesitated before

passing on this month's interest-

writ cut. NAB chairman Michael

Chaney total his annual meeting?

Adelaide that a $5 million bottom

line is really just midfield,

compared to the profitability of

Australia's other big companies.

Their criticism invariably draws on

the contention that banks make

superprofits and have in right to

increase interest rates. Well, that

contention is simply not true. The

chairman says instead of

politicians scoring points by

bashing the banks, he'd like to see

some MPs have the courage to tell

the other side of the story. I

think there is room for political

leaders to take the economic high

ground. We need strong, security,

profitable banks. The ANZ recently

said it wants to set its own

timetable for interest-writ chains

without regard to Reserve Bank --

chains without regard to Reserve

Bank moves. Westpac has also indicated

indicated it might not pass on all

future rate cuts. The NAB was more

guarded but the message is clear.

Banks moving along with the RBA is

not the norm of ab bration. Funding cost

cost also have to be addressed in

the next 6-12 months.

Briefly to some other business news

now - ANZ admits it could take

weeks to fib its online statement

services after a security glitch

left customers' transaction details

accessible to outsideers. Orica

expects to increase its profits,

despite leaks and shut-downs which

cost it $4 million a week.

Investors have chosen not to three

more money at blue blue with just

half of its right issues being

snapped up. Ron, that is finance up

to the minute with those good,

strong employment figures coming

out of the US, we hope it will make

for a very good Friday today. Good

on you. I am sure it will be, Tash.

Thank you. A check of the weather.

And now for a look at what is

happening across the weekend. Let's

go to Sally at the Weather Channel.

We will start calling you stormy

Sally bus it always seems to blow

up a gale when you are on. (Laughs).

Stop it. It certainly is this

weekend. I will be a busy girl

reporting on storms. The last few

days have been stormy for

Queensland and even New South Wales.

Even Western Australia lobbing at

severe storms earlier this week.

That produced heavy falls across

the wheatbelt. Some good news for

some farmers here. Temperatures are

locking nice in Victoria. Friday no

Saturday warm northerly wins

developing ahead of a very wet

change, but not only will they be

warm but very gusty. In fact, we

are likely to see damaging wins

with severe storms tracking across

Victoria. Temperatures into the 30s

for those in Melbourne and low to

mid-20s for those in Tasmania. So, this

this is our area of low pressure

developing in South Australia,

widespread severe weather, we are

talking flash flooding, damaging

win and potential for hailstones

here. You can see the pressure

system developing as it tracks no

Victoria. The strong gusty

northerly wins bringing sprawly storms

storms into the State. The pink

indicates heavy falls so flash

flooding may be a concern here.

Widespread 50mms expected across

Victoria and into northern NSW, too.

We are looking at a few showers for

those in Sydney here and northerly

winds will keep temperatures in

their mid-20s. This is our arrest

of low pressure. We have two things

happening here - an upper-level

trough and this low and tracking

further east no NSW, we will have

those northerly wins stream down

over the south-east, keeping those

temperatures fairly mild in

Tasmania and high across Victoria.

The pink shading is streaming up into

into the Northern Territory. A lot

of tropical moisture, a lot of

rainfall to perhaps look forward to

across the south-east, but probably

not, though. Adelaide will foal the

heat before the wet weather rolls

on in. Brisbane is locking nice for

Saturday, but then -- locking nice

for Saturday but then seeing wet skies

skies on Sunday. Hobart is seeing a

top of 22 degrees with showers

clearing out nicely into Sunday.

Melbourne we've got 30 degrees the

top there. It will cool off with

the wet wester rolling in. Perth, a

beautiful weekend. Sydneysiders seeing

seeing those showers forecast once

again and those below-average

temperatures. Ron, once again, a

bit of a dismal weekend for those in

in Sydney. We will put up with it.

Sally, thank you. Thank you, Ron.

Here is a recap of our top stories

before we go this morning. Molly

Meldrum is in an induced comb many

and fighting for life after

undergoing -- induced coma and

fighting for life after a heavy

fall at his Melbourne home. The war

in Iraq is officially over T flag

has been lowered in Baghdad.

Hungary and the Czech Republic

groin Great Britain in opposing the

latest treaty to save the euro.

That is it for Ten's Early News. I

am Ron Wilson. Our next news is at

11am. I am Natasha Exelby. Have a

tip-top weekend. A tip-top weekend? Tip-top!

Supertext captions by Red Bee Media - www.redbeemedia.com.au.

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