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(generated from captions) This program is captioned live. Tonight - pleas for calm biggest plunge in seven years. after the stock market's Certainly a sharp, sharp fall. Riot police called in his Granville driveway. as a man is shot dead behind APEC'S Great Wall of Sydney. City businesses to suffer fans gather at Graceland And 30 years on to remember Elvis Presley. with Ian Ross. VOICEOVER: This is Seven News Good evening. on the share market today A wild roller-coaster ride

off the value of stocks, has wiped billions of dollars hard. hitting average Australian investors The effects of the US housing crisis into free fall - sent the market here before a late rebound. its biggest drop in seven years WALL STREET BELL RINGS on Wall Street, Closing another torrid day around the world. sending reverberations

are taking their queue from the US. The global markets and asking questions later. People are selling stocks first quickly enough here. And they couldn't sell representing falling share prices, Red, at the Stock Exchange. covered the board biggest fall in seven years. By lunchtime, the market's isn't it? Certainly a sharp, sharp fall, that's the trouble. There's too much money about, and we are paying for it now? Right, Yeah, that's right. The ASX 200 sank more than 5%, to close at 5,712 - down 1.3%. but rallied this afternoon

not so bad. But over the long term, maybe, is a global financial shake-out. What we're seeing

only three to four weeks ago We were super confident and now we've become super pessimistic.

mining was one sector hit hard. Most stocks were down - every now and then. There are corrections This one probably had to happen. It's not a disaster. A notable loser was RAMS Home Loans, at one point. halving its share price It only listed two weeks ago. RAMS borrowers might foot the bill. Because of the credit squeeze, profit crunch themselves They either have to get that to their consumers. or pass that cost on

more a correction than a crisis, If this does prove will be knowing when to buy back in. the trick for investors One analyst said to catch a falling knife." "Right now that's like trying

who get the timing right, But for punters on the share market it could mean bargains. when it'll start to bottom out. Just waiting to see And then...? And then I'll start moving in. Despite the late rally, of the All Ordinaries index. $21 billion was wiped off the value

Coles shares fell 3%. IAG a rare gainer. Telstra down 2%. finished 36% lower Troubled mortgage lender RAMS

$6 billion in short-term debt. after admitting it can't fund at just over US80 cents. And our dollar is also falling now to stay calm, The Government is urging investors remains strong. stressing the Australian economy credit their own economic management John Howard and Peter Costello have Labor questioning but leadership tensions whether they're focused on the job. The run on world markets in his tracks stopped the Prime Minister

during his morning walk. Now, more than ever, international financial instability, in the light of reliable, safe, economic management. this country needs steady, Mr Howard says could have escaped unscathed there's no way Australia from the US housing crisis,

needed his economic touch. but he claimed managing it experienced vigilance. And it always requires, er... The Treasurer says there's no excuse to increase interest rates. for our big banks may not be so lucky. But non-bank borrowers Australian credit markets. It will affect some Australian borrowers. It will affect is calling on his experience Peter Costello a decade ago managing the Asian crisis to try to convince voters can steer Australia only the coalition through this market correction. the Labor Party Well, I don't think that to manage these things. has the experience nor the policy to run the economy Labor says the government's ability continuing leadership tension. is being eroded by it saps away time It saps away energy, it saps away direction. and above all

friendship at the top is irrelevant. One Government backbencher says if two blokes don't get along. I couldn't give a rat's arse

Business is booming for Qantas, in the past year. making record profits $720 million on last year's result That's a 50% jump a failed private equity bid. and comes despite The airline says 10% of its shares. it can now afford to buy back our shareholders. We think we can reward We can afford it. it's a good way to use our money. And we think, overall, will depend on market conditions. The timing of the buy-back

Police are searching for two men possibly a Mitsubishi Lancer, who fled in a silver car, at Granville early today. after a shooting murder in a hail of bullets The 37-year-old man died as he stepped into his luxury car. Get your hand off me! Don't touch me! distressed family members Police rush to keep back from the crime scene. YELLING AND SCREAMING this bullet-riddled BMW The source of their grief -

Mohamed Alahmad died. where 37-year-old father-of-five was heading off to work The Sydney call centre manager at about 6:20 this morning. when he was ambushed and he said six shots. My husband he was counting across the road at about 3:30. About five blokes walking Five blokes? Yeah, it's not a regular occurrence. Mr Alahmad was shot dead. Three hours later the persons of interest. We haven't confined or limited woke the man's sleeping family. The early morning gunshots among them his 14-year-old son, They rushed outside, only to find their father already dead.

As police searched the neighbourhood for clues,

the family gathered nearby to grieve.

It's believed a love triangle involving a rival family may have sparked the shooting. Police have warned against revenge attacks. Retribution would suggest that people know who's responsible, now if that's the case I'd ask people to come forward with some information. A 16-year-old boy has been locked up over a rock-throwing attack on the M4 motorway last week. His family was in court as the magistrate denied bail, fearing the youth would re-offend. The teenager was on a good behaviour bond when he was arrested last night and charged with six offences. A 17-year-old has also turned himself in to police. A 5km fence will go up around parts of Sydney in two weeks to protect world leaders arriving for APEC. The so-called 'great wall' is to stop protests and terrorists but businesses are furious their customers will also be locked out. In just 15 days, these busy streets will fall silent. A 3m-high steel and concrete barricade

will fence them in to Fortress APEC. A group of protestors would have a great deal of trouble pushing that over. Construction of Sydney's Great Wall starts six days before APEC begins. From Tuesday September 4, for a week, the 5km fence will span the Botanic Gardens, Macquarie Street, Bridge Street and Pitt Street. The simple message is that Sydney CBD is not the place for a private motor vehicle during this period of time. With just eight pedestrian gates into fenced streets, businesses say they'll lose money. We've had a quiet winter and then to top it off, they want to block off the city. Who's gonna pay the rent, you know? It's a lot of expenses. Expenses are same, you know? It's sad. The Cahill Expressway's Macquarie Street off-ramp also closes from Tuesday September 4 for six days. This is the biggest security event that has ever been hosted in the history of Australia,

which is why we are going to the extraordinary lengths that we are. Circular Quay's bus terminus will move to Martin Place

and delegates will frequently disrupt Sydney Airport. We can also reveal APEC organisers didn't actually want the fence, but police insisted.

And originally, commanders wanted the barricaded area to be even bigger

with fewer gates. The reality is New South Wales Police have to secure this event. in that regard. We're not going to compromise

A link to the road closures is on our website. A Sydney family has told of escaping a fire which threatened to burn down several homes in their suburban street. One Minto house was destroyed when it was engulfed by flames. Neighbours were forced to flee as the blaze quickly spread. As I came out the front door, the flames were actually coming around the corner of the house. Firefighters are still investigating what caused the fire. No-one was seriously hurt. Thousands of Elvis Presley fans have marked the 30th anniversary of his death with a candlelight vigil at his Memphis home. His family joined supporters at Graceland to celebrate the king's life and music. If there is life after death, then Elvis Presley has found it. 30 years on, the King's grave and his Graceland mansion are the centre of an annual pilgrimage for 50,000 fans. Even his daughter Lisa Marie was there today. She was just 9 when the world first heard this. NEWSREEL: Good evening. Elvis Presley died today. Elvis is dead, but around every turn in Memphis his image lives on. # Hunk, a hunk of burnin' love... # For the first time, Graceland is hosting an official competition for Elvis impersonators. As one gyrated for the ageing crowd,

another waited in the corridor. # If I could dream... # Some have Australian accents. Mark Anthony wasn't even alive when Elvis died.

His musical mind was a genius. The scorching heat was no deterrent for two Melbourne couples,

among the first in line for a memorial service. The whole experience has been very emotional, hasn't it? It has been, yeah. We've been fans all our lives.

He's a god, you could say. It's unbelievable. Three decades ago distraught fans travelled here to Graceland holding an impromptu candlelight vigil. Many have returned tonight as they have done every year since, proving their love for Elvis Presley has not diminished with time. For hours, fans passed his grave.

For them, it seems like just yesterday they lost their King. Ahead in Seven News - parents warned not to give cough syrup to young children. Also, the lottery win that's made a single mother richer than royalty. And meet Lana - born on the lounge room floor. the Sydney baby

We're talking 4 or 5 minutes and it was all over.

There are a lot of myths about the workplace relations system. People keep saying that these days your employer can force you

to give up all your award rates and conditions. That's just a myth. Here are the facts on protected award conditions. Even rest breaks are protected. And the Workplace Ombudsman will enforce it. If you need more information, help or advice, just call the Workplace Infoline. Sydney parents are being urged to have their children tested for blood poisoning, if they are worried about a recall of toys made in China. The State Health Department says contamination could occur if lead-painted Mattel products are put in children's mouths. The blood test is covered by Medicare. Mattel hasn't told authorities how much lead is in the paint. The Fair Trading Department may be asked to investigate. Parents are being warned not to give cough medicine to children with the flu for fear it could kill them. Doctors say syrups don't help ease the symptoms, which should be checked by a GP even if they're minor.

Her mum thought it was better safe than sorry. 7-month-old Brianna Hampstead hadn't been breathing properly all night so this morning it was off to hospital. She had a fever, and got some antibiotics and then just wanted to get her checked out again this morning

'cause we had, as you said, a rough night. Emergency departments have been flooded with flu sufferers. Admissions tripled to 20,000 in the past week. Westmead Children's Hospital saw 175 patients yesterday. There's a lot of anxiety, a lot of the parents we're seeing have sick children - quite sick children, people aren't here with well babies.

Escalating parents' concerns, the death of 2-year-old Renato Cook this week - Australia's seventh fatality from influenza A.

Extra staff are working in emergency departments in New South Wales, but authorities say it maybe quicker to see the family doctor. But if people have an emergency, of course they should go there, but by and large, GPs are best set up for dealing with people with influenza. And amid this worst ever flu season, there are warnings in the US not to give cough syrup to children under two. A similar alert is yet to be issued here. But Australian doctors want a review after the medicines were linked to high blood pressure when given in large doses. Cough mixtures do very little and some of them can actually be lethal to young children. The bloodiest insurgent bombings of the Iraq war have killed at least 250 people and possibly as many as 500.

Four suicide truck bombs tore through northern villages populated by a non-Muslim religious group, the Yazidis. Dozens of homes were reduced to rubble. The US military blamed al-Qaeda for what it calls an act of ethnic cleansing. A lot of destruction, it appears to be a place where genocide was committed. It's feared insurgents forced out of Baghdad by the surge in US troop numbers are stepping up attacks on softer targets away from the capital. A Scottish postal worker has won Britain's biggest-ever lottery prize worth $86 million.

Single mother Angela Kelly didn't realise for three days that she had the winning ticket. She's already quit her job and started enjoying a life of luxury. For the first time ever in my life I went for a manicure. Oh, it was greet just sittin' there for half an hour, really relaxin'. Angela's bank account was overdrawn before the win. She's now officially richer than Prince William. A Hungarian zoo has shown off Persian leopard triplets born two months ago. The cranky cubs are named Bella, Bara and Bahar and didn't seem too happy with all the attention. (Cub hisses) Persians are among the biggest leopards when fully grown, weighing up to 70kg. They're critically endangered with only about 1,300 remaining in the wild. Some pregnant women choose a home birth, but they're not all planned. Yesterday in a Sydney lounge room a baby girl arrived early with a helping hand from her shocked dad - a member of staff here at Channel 7. 'THE MORNING SHOW': When one of the crew here raced out just minutes after the show started... Marina actually waited for a commercial break to call me. You might have seen him. Tom Cork is part of the studio crew for 'Sunrise' and 'The Morning Show'.

And when he had to rush home, it was to take Marina to the hospital. Too late. I heard Marina just call out "Tom, get me out of here!" and... I was in the bathroom and I was saying "Help me, help me, Tom" and he came running in and I said "It's too late, call an ambulance."

Their first child Rory had taken all day but little Lana was a rush. He'd rung Triple O and they said "OK, well, get her lying down" so he just dragged me out basically into the lounge room onto the floor. And she has screamed "Put me down, put me down now!" so I just laid Marina just down here. The guy on Triple O was talking me through. TRIPLE O PHONE CALL: As the head delivers, you've got to gently clean the baby's mouth and nose with a dry towel. Yeah, OK.

I was scared, I was terrified that something would go wrong. I've got one hand on baby's head, one hand with the phone. (Baby cries) OK, baby's out. OK, is that her I can hear crying? Yeah, that's her. Like we're talking four or five minutes and it was all over. You've done a good job there, the two of you - the three of you! And, as you can see, that's the result - baby Lana. Fast asleep. Good girl. Like her dad, she'll be up early. Time for sport with Ben Damon and they're calling it the $300 million goal. David Beckham has scored his first goal for the LA Galaxy. It's a good one too - we'll show you in a moment, while Liverpool searches for the next Harry Kewell.

That's the only thing I'm gonna be doing over there - putting the ball in the back of the net. goes back to school. PHONE RINGS WOMAN: National Security Hotline. MAN: H , 'm calling about something I saw the other day MAN: Hi, I'm calling about so ething I saw the other day that seemed a bit strange. WOMAN: I overheard them planning something. I felt like I had to let you know... MAN 2: ..downloaded documents from suspicious websites. Your detailed information could help keep Australia safe, so if you see or hear something that just doesn't feel right, call the National Security Hotline on: You can remain anonymous. PHONE RINGS WOMAN: National Security Hotline. Parramatta's Nathan Cayless has warned his Eels not to let their shot at this year's NRL title slip. Team-mates have told Seven News how their captain used his own pain from the Eels' 2001 grand final loss to motivate the side for this week's clash with Melbourne. Parramatta have all guns on deck for the Storm but that means little to Nathan Cayless. We know there's a lot of talent in this football team but talent don't get you the ultimate prize. and all that sort of stuff. That's why in a players' only meeting the captain challenged his team-mates to knuckle down and bring home the Eels' first title since 1986. Nathan Cayless talked about it today. You know this might - it might be our last chance of, you know, Cayless revealed to them he still carries the scars from the 2001 grand final loss. There's something that you regret, something that will probably stick with me for the rest of my playing career and, you know, the rest of my life. Naturally enough, Parramatta's old rivals, Manly are getting excited at the prospect of winning the club's first title since 1996 and come the business end of the season they're hoping modern technology can provide them with an edge. All players are wearing GPS tracking devices in training. relay to us It's good for them to be able to

how much work we need to do and when we need to do it, so it's certainly been invaluable to us so far. Encouraging good old-fashioned reading

was big dog Willie Mason's job today as he went back to school but the doc's told him

his wrist won't be ready for playtime until round 25. He wants it 100% before I'm out there, and so do I. English Premier League giants Liverpool have launched an Australia-wide search for the next Harry Kewell. Now those on the short list are on their way to the UK. Jarad Lum and Corey Gamiero are only in their early teens, but they could soon be household names. They're only 14 and 15 years old but these two young men have the football world at their feet. Ever since I was like this high I've been dreaming about this playing for a massive club in the English premier league. It's a dream come true. Always wanted to be a professional football player. Now I've got the chance to show them what I've got. Jarad Lum and Corey Gamiero have been handpicked to trial in England. They flew out today hoping to follow in the footsteps of Aussies Harry Kewell and Craig Johnson at Liverpool. Australian allegiance and they recognise we are now producing footballers of quality

and they want to tap in. 9-year-old Brisbane kid Rhain Davis made news around the world last month, signing a contract with Manchester United.

But as teenagers, this pair is a more immediate prospect. Jarad goes to Harry Kewell's old school Westfield Sports High, and at 15 he's already playing for the Australian under 17s. This is what Corey does best. He's scored 33 goals in 20 games this season, and you get the feeling confidence won't be a problem at Liverpool. The only thing I'm gonna be doing over there is putting the ball in the back of the net, get it back out, put it back down and start again. CROWD CHEERS And that leads us to David Beckham. The LA Galaxy's $300 million recruit has done just what he's paid for, scoring his first goal at the new club. Beckham's trademark free kick came in a 2-2 draw with Washington and sent the Galaxy fans wild. More reserved, though, Mrs Beckham who offered a modest round of applause. The V8s return to Sydney this weekend as the championship battle heats up, but the drivers called a brief truce last night. They held a surprise testimonial dinner for retiring veteran John Bowe who's raced over four decades in Australia. I honestly had tears welling up in my eyes for some weird reason. Practice begins at Oran Park tomorrow. Holden's Garth Tander leads the championship.

Everything from Oran Park on Seven.

I will be watching. A big weekend. It was a fairly cloudy and chilly day across Sydney. The forecast for Friday and the weekend is next in Seven News.

CAR CHUGS This weather report brought to you by Goodyear Auto Service Centres. HAMMERING, TOOTING When you see a big news story, grab your camera or video phone and start shooting. Then send your images to: Sara's got the day off, so I'll do my best with the weather. We had plenty of light showers across Sydney today with Potts Hill recording 3mm. Cloudy conditions kept the top temperature in the city down to 17 this afternoon. Right now in town it's 14 degrees. It was slightly colder in the suburbs with tops of 15 at Richmond and Parramatta, just 9 in the mountains. A cold night in Campbelltown with a low of 4 degrees. Around the nation, and showers in most of the capitals tomorrow with a chance of snow in Hobart. Showers easing in Melbourne. Mainly fine in Perth and Brisbane. On Sydney's waterways tomorrow, north-westerly winds will pick up to 20 knots in the afternoon ahead of a change. Seas will be choppy with a 2m swell. Those isolated showers will continue tonight ahead of a mostly warm and sunny day tomorrow. A top temperature of 22 across most suburbs. 23 in Gosford. The light showers unfortunately missed our dams. They're still sitting around 57% full. And looking further ahead - showers will pick up again on Sunday before eventually easing off by the middle of next week. And that's Seven News to now.

If you have a story to investigate

we would like to hear about it. Go

to our website. I'm Ian Ross. Thanks for your company. Goodnight.

The world's top criminal psychic comes out of retirement to help solve the most bizarre outback murder mystery.

Imagine the strongest emotion you

can feel, somebody terrified for

their life, they are going to their life, they are going to get killed. Hello. I'm Samantha Armytage. He cracked the Yorkshire Ripper case, now he relives exactly what took place here. Tonight - how psychics are solving cases when the police reach a standstill. Have a look at these - all Chinese products, all banned here. The growing list of deadly imports and we don't have enough people to check. Baby boom - from the youngest mum at just 13 to the oldest at 50. Is it all being driven by the tax-free handout?

We are happy and don't care what other people think. And the wonder cure - the skin conditions fixed by a young dad's creation. Lured out of retirement and now here - the UK's top psychic detective is helping with a bizarre outback murder mystery. Jimmy O'Connell's family want his murder solved once and for all. David Richardson on the psychic's hunt for a killer. EERIE MUSIC PLAYS When you come to a site like this, it retains vibrations. Imagine the strongest emotion that you can feel, somebody terrified for their life, they're gonna get killed - terrified.

You are watching one of the world's top criminal psychics at work. The UK's top crack medium deep in the Australian scrub, trying to shed some light on our latest baffling bush-murder mystery.