Note: Where available, the PDF/Word icon below is provided to view the complete and fully formatted document
Disclaimer: The Parliamentary Library does not warrant the accuracy of closed captions. These are derived automatically from the broadcaster's signal.
Ten Early News -

View in ParlView

(generated from captions) This program is captioned live. Good morning. I'm Bill Woods. Welcome to Ten's Early News. And I'm Kellie Morgan. Our top stories this Friday morning - another session on the slide - to the worst stock market freefalls a technical glitch leads this century. the body of a Perth lawyer Murder investigation - police recover who'd been missing for a week. in a powerful earthquake Toll rises - 550 people killed on the coast of Peru. And in breaking sports news, Makybe Diva gives birth 3-time Melbourne Cup-winning mare Checking the weather briefly: here's Kellie. With our first check of finance, Good morning, Bill. on Wall Street overnight There's been more bloodletting

deepened. as the credit and mortgage crisis from the highs enjoyed in July US stocks have plunged 10% the dive is not over. and analysts say had gained some ground A few moments ago the Dow Jones but was still 104 points down. triple-digit losses. European shares also suffered Stocks in Asia were hammered. The Nikkei closed down 327 points funds for the third time in a week. despite the Bank of Japan injecting

as much as 5% at one stage, And our market dropped in over seven years. the biggest one-day percentage fall

was compounded Yesterday's freefall in share prices by an embarrassing computer glitch

on the Sydney Futures Exchange which halted trade

for over an hour. The shutdown caused panic with uncertainty. in a market already awash The sea of red said it all. within the first minute of trading, Ten points shed from the sharemarket the bloodbath sickening some. you are a small-time investor, Especially when your dollars kinda disappear, and you're seeing it's not a good sight to see. before finishing the day 1.5% down. The market nosedived by more than 5% by further falls in the US. The credit crash prompted are functioning normally. Our markets There is liquidity in the markets. He says using non-bank lenders will be hit, while some borrowers to pass on the pain. Australian banks have no reason Caught badly. RAMS Home Loans - just last month. after floating at $2.50 in the short term, Among other losers whose assets include shares - self-funded retirees in lower super fund payments. lower prices resulting the pain may not be over yet. And analysts warn on the stock exchange All eyes will be when it opens in just a few hours to see if the carnage continues. Bill, when I return, details of Westpac's new chief.

to India after all. Australia will export uranium his Indian counterpart last night John Howard phoned to tell him of the decision. be subject to stringent conditions. The Prime Minister says the deal will We want to be satisfied for peaceful purposes. that the uranium will only be used But critics have branded the move as dangerous and irresponsible -

reportedly boasting India's chief scientific adviser

which reactors will be open the Indian Government will decide

to international inspectors. Gold Coast doctor Mohammed Asif Ali this morning is on his way home to India but it may cost him his job. by Federal Police The doctor was questioned almost two months ago the Mohamed Haneef investigation at the height of but no charges were laid. from his duties Queensland Health suspended Dr Ali after it was revealed on his resume. he had faked three months employment taking unapproved leave to fly home Dr Ali will now be sacked for still under investigation. while he was about it. Oh, look, he's pretty upset

within reason, He's doing everything he can, with respect to that. to sort everything out Dr Ali has stressed at the Gold Coast Hospital. he would like to keep his job Police are hunting for a killer, of Perth mother Corryn Rayney. after the discovery of the body Forensic teams searched Kings Park from Mrs Rayney's car after oil leaking

led police to her bush grave.

Nine days after she went missing, has been found, the body of Corryn Rayney beside a bush track in Kings Park. the 44-year-old mother of two buried was last seen The Supreme Court registrar at a Bentley community centre leaving a bootscooting class

on August 7, family and friends raising the alarm or to work the next day. when she failed to make it home Police had their first breakthrough was found on Tuesday night. when Mrs Rayney's abandoned car led them to the grave site. Then an oil leak from that vehicle to have the oil link the two scenes. It's extraordinary good luck the car had driven over a bollard Police say near where the body was found. to catch her killer. They're now asking for public help the Kershaw Avenue address If anyone sighted anyone leaving in Subiaco early morning to us as well. please pass that information on with the use of DNA, Her body, which was identified has been removed from the site. now planning a funeral. Her distraught family Tracy Vo, Ten News. North Shore this morning - A tragic accident on Sydney's a woman, believed to be in her 30s, by a garbage truck. was killed after being hit

at Crows Nest She was crossing the Pacific Highway when she was struck around 2:30am. but the woman died at the scene. Ambulances were called, A rescue effort is under way more than 350 people after a powerful earthquake killed

on the coast of Peru. and injured more than 1,000

a state of emergency. Some villages have been declared have been reduced to rubble - Whole neighbourhoods here, just a door left standing. There isn't much to save, what they can with them. but these residents are taking the devastation caused Peruvian television has been showing

south of the capital, Lima. near the centre of this earthquake, has been worst affected. The province of Ica to see if anyone remains trapped. In some areas, searches continue a church has collapsed. In the port of Pisco, The town's mayor says attending a service at least 200 people

were buried in the rubble. It has taken many hours to reach the stricken region because roads have been blocked and communications cut. Hospitals around the country have been put on high alert, with emergency appeals for blood. A planned strike by some medical staff has been called off as extra doctors and nurses move into the area. And, with many neighbourhoods still unsafe, residents are staying outdoors, unable to return to their homes, which have been devastated by this earthquake. Thousands of Elvis fans gathered overnight to mark the 30th anniversary of the King's death. Fans waited hours for their turn to make their way from Graceland's gates to Presley's grave site. Many were still queuing as the sun came up. We've been here for 13 hours waiting just to come up and do the candlelight vigil and go by the grave site. Even Aussie devotees made the pilgrimage to Memphis. It's very sort of safe and peaceful it's really another world. 70,000 fans paid tribute overnight with more expected today. Triple Melbourne Cup-winning mare Makybe Diva has become a mum for the first time. Australia's legendary racehorse gave birth to a baby colt just after 3:00 this morning at Coolmore Stud in the NSW Hunter Valley.

The new arrival is said to be fit and healthy

and is rumoured to have the disguishing marks of four white feet. Dad is international sire Gallileo. Owner Tony Santic is yet to decide whether he'll retain the colt, but it's estimated it could fetch as much as $5 million as a yearling. Mum and son will remain at Coolmore until settled, before moving to Santic's property in Geelong. One of the most decorated footballers in AFL history, Mark Ricciuto, has announced this season will be his last.

The Adelaide captain finally succumbing to injury after a 15-year career. Since debuting in 1993, Mark Ricciuto has been one of the game's greatest. to a halt at the end of the season. But his glittering career will come He reached the highs in both team and individual endeavours with a Premiership and Brownlow added to three 'best and fairest's, All Australian honours and 309 games - but the emotion was too hard to hold. The last people I'd like to thank are the most important people in my life. Firstly, my mum and dad, Lisa, Craig and families and my fiancee, Sarah. It was a big day for skippers - with Collingwood's Nathan Buckley on the way back after 340 days. You looking forward to it? After 11 months, yep! Former Melbourne coach Neale Daniher

made a brief return to the club yesterday, ahead of skipper David Neitz's 300th game against Collingwood tonight - when the veteran becomes the first Melbourne player to reach the coveted milestone. To be able to play 300 games, whether you're 1st or 50th or whatever, is, I suppose, a testament to everyone who is in 'that club', to their longevity. Ian Cohen, Ten News. To the NRL, and Brisbane are hoping centre Justin Hodges can make a miraculous recovery from the flu

to face the Bulldogs tonight. The Broncos centre missed training yesterday, prompting this speculation from coach Wayne Bennett. He didn't eat his strawberries. He didn't have his oranges. How bad's a virus? I don't know. All I know is he's not good enough to be here today to train. The Bulldogs boosted by the late inclusion of centre Willie Tonga, who's missed two weeks with a rib injury. Time for a check of finance. Kellie, you actually have some good news? Cheaper airfares could be on the way after a sky-high profit by Qantas. The record result will also mean extra cash for staff and shareholders. There's no hiding the delight felt by Qantas boss Geoff Dixon. Just weeks after presiding over a failed buyout by US financiers and the resignation of chairwoman Margaret Jackson, a stunning profit - more than $1 billion, up 54%. Well, it has been a tumultuous year, but the outcome of it is we have had a very successful result. The extra profit will be ploughed back into the company via a share buyback and staff will get a $2,000 bonus. But there are storm clouds ahead. It's going to be a lot more competitive domestically in the coming year, which will certainly attack Qantas's ability to make the same sort of profit it made this year. That should mean cheaper fares, the carrier promising to fight off more low-cost competitors. Qantas is also saying its new frequent flyer program will be known in March. That includes starting a Jetstar loyalty program. Qantas is trying to shrug off its failed private equity deal but it admits it's embarrassed that it has had to put aside for colluding with other airlines to inflate freight costs. That's for America alone. It faces more legal action in four other countries. Kevin Wilde, Ten News. A drop in coal prices pushed Wesfarmers' annual result down 9% yesterday, but the company remains upbeat about its chances of acquiring Coles. Announcing a $786 million return, boss Richard Goyder flagged plans to run the supermarket giant as three autonomous business units, involving existing Bunnings, Officeworks and Target stores. Within that business there are some very good operations and some terrific people generating a lot of revenue and earnings now, and we think we can build on that. Wesfarmers will spend $5 billion on Coles businesses over the next five years, should its $21 billion bid succeed. National weather today: Let's take a look at what's in today's papers. In the 'Sydney Morning Herald' - The Workplace Authority has hired 260 temporary staff, including backpackers, to process a backlog of nearly 100,000 Workplace Agreements put to the Government's fairness test. St George boss Gail Kelly is departing after a successful 5.5-year reign. She is taking over from David Morgan as Westpac's next chief executive. That story in the 'Financial Review'. And Brisbane's 'Courier Mail' says an investigation will be launched

into the safety of Queensland's busiest bridge, after engineers found the Captain Cook bridge to be riddled with holes. $21 billion wiped off the Australian stock market - the details when the Early News returns. This program is captioned live. Welcome back to Ten's Early News. This morning, our stock markets smashed, and analysts say we needed this. The market correction wiped $21 billion off the All-Ords. Controversial departure - a Queensland doctor quizzed with Mohamed Haneef over the UK terrorism flies out for India. Murder charge - a seventh person accused of killing an intellectually disabled man in Melbourne. And Hollywood's raging bull waves the red flag to diners in Melbourne. Time for business news, and, Kellie, what's the latest on Wall Street? Incredibly, US stocks clawed back huge losses after plunging 300 points at one stage. Investors are bracing for another triple-digit battering on the stock market when the market opens this morning. All the gains of the past year have been wiped out, the US housing crisis continuing to wreak havoc

across the globe. Treasurer Peter Costello has called for calm. Our markets are functioning normally. There is liquidity in the markets. Some analysts say the falling markets mean good bargains are just around the corner. we'll cross to the US shortly for the fallout from Wall Street. Indian doctor Mohammed Asif Ali flew out of Australia last night bound for India, but the move may cost him his job. The Gold Coast doctor who was quizzed by Federal Police over his links with Mohamed Haneef will be sacked for taking unapproved leave. Gold Coast doctor Mohammed Asif Ali is on his way home

to his family in Bangalore, India. Dr Ali booked his flight after Australian Federal Police returned his passport. At the moment he's just focused on seeing his family. He's been very stressed the last couple of days

and he just wants to get home and spend some time with them. Dr Ali's passport was confiscated while Federal Police investigated his links with former terror suspect Dr Mohamed Haneef, but no charges were laid. Queensland Health suspended the doctor from his duties in late July after it was revealed he faked three months employment on his resume. Dr Ali stresses he wants to keep his Gold Coast job, but Queensland Health will sack the doctor for breach of contract. Oh, look, he's pretty upset about it. within reason, He's doing everything he can, to sort everything out with respect to that. to keep the second interview with their client secret. This follows the embarrassing leak of the first interview transcript that revealed Federal Police had tampered with some of the evidence. Anthony Donaghy, Ten News. A seventh person has been charged over the torture and murder of an intellectually disabled man in Melbourne. 36-year-old Darren Summer from Noble Park has been charged with one count of murder this morning. and will appear in court Christopher O'Brien's body was found in a drain earlier this week. Police say the 22-year-old had been tortured and killed in March. He was only reported missing on Saturday.

Just days after a Melbourne great-grandmother was savagely bashed in her home, a Sydney man has told of a similarly horrifying ordeal. Three hooded men kicked 70-year-old Tony Lynes and bashed him about the head with a hammer. Bearing all the scars of a savage bashing, the courageous pensioner told how he fought off his attackers. They broke into the motel where he was working as night manager. He put a knife to my throat which I grabbed, and then he called to the other one, "He won't let go of the knife. Belt him, belt him." They belted the 70-year-old with a hammer. He hit me with the hammer on the top of the head and somewhere else, I don't know. Then they drove the boot in. They broke three of his ribs and repeatedly kicked him in the face till he passed out. It was a callous and cowardly attack on a 70-year-old male who was just working as a night manager there at the motor inn. If you fight back, they could kill you. exactly the same thing anyway. Tony Lynes says he acted on instinct. The thieves got away with less than $500, stealing his mobile phone and wallet. It was the second time the hotel has been robbed in a month. Evan Batten, Ten News. Rescuers in Peru have begun looking for survivors after a powerful 7.9 magnitude earthquake erupted off the South American coast.

The quake killed at least 337 people and injured more then 1,300. Rescuers struggled to get to the centre of destruction because major highways were destroyed. Buildings and homes collapsed. A second tremor followed 80 minutes later, measuring 6 on the Ritcher scale, which was then followed by other smaller aftershocks.

Hollywood great Robert De Niro has officially opened his new Melbourne restaurant. Nobu serves modern Japanese cuisine, and celebrities from around the world were on hand to try the menu. James Packer helped bring the restaurant but De Niro says he won't be playing roulette any time soon. I don't gamble. I don't like to lose money. Nobu is open to the public today. Lleyton Hewitt's US Open build-up continues to gain momentum. The Australian world number 20 spending just over an hour defeating Austrian Jurgen Melzer in straight sets at the Cincinatti Masters. Hewitt will now face Carlos Moya tomorrow for a place in the semifinals. Rugby league, and with all the hype surrounding grapple-gate,

it's been hard to remember very important games tonight - there are two the Broncos hosting the Bulldogs while Parramatta takes on the Storm in Melbourne. A bumper Friday night of football beckons

with the great 'grapple tackle' debate

adding fuel to the fire. Eels coach Michael Hagan's main concern, player safety... I think, in the end, that's the reason why some issues have been raised this week, and I think Melbourne have taken that very personally. ,.although some of his players are more worried about the fallout from all the hype. I just feel sorry for him. this week. Even if we accidentally put an arm or around the head, around the throat we're going to get penalised for it too, so it's going to be a big issue on Friday night - More personnel problems for Brisbane coach Wayne Bennett - Tonie Carroll is back but the Broncos are likely to lose Justin Hodges to the flu. He didn't eat his strawberries. He didn't have his oranges. How bad's a virus? I don't know. All I know is he's not good enough to be here today to train. Trying to break a 4-game losing streak against Brisbane, the Bulldogs are boosted by centre Willie Tonga's early return from a rib injury. Anthony Goodridge, Ten News. Finance now with Kellie, and another sea of red on Wall Street? Bill, broadening fears about the ailing US housing market have sent the Dow on a deep 10% decline. With more, Alexis Christoforous joins us live from the New York Stock Exchange. Alexis, there are reports this morning

This was quite an incredible day on

Wall Street. The Dow Jones Industrial Average plunged triple

digits right out of the gate this

morning because there was a panic

in Asia. At one point we were down

about 340 points. About 15 minutes

before the closing bell on Wall

Street we had quite a rally. The

Dow Jones closed down for the day

and lead 15 points, if you can

believe that. The reason for the

turnaround was financial stocks on

the Dow Jones, like J P Morgan, up

more than 5.5 %. Citigroup was also

up. We are also hearing that Countrywide Financial will file for

bankruptcy today. How much worse

were this credit crunch get? Is the economy

economy headed for recession? That

was that the reason for the jitters

we have had on Wall Street. The Dow

Jones has been down at six straight

days. It has been the worst week on

the blue chips in the last five

years, and the reason for that, the

ongoing worries about the mortgage

lending crisis and be possible

credit crunch. Countrywide

Financial is the largest mortgage financial lender in the United

States, and it said it would be

drawing on 11 1/2 billion dollars

worth of credit just to stay afloat

and just to stay in business.

People on Wall Street are worried

it could go into bankruptcy and

other mortgage lenders might follow

suit, and that can really affect

the economy if consumers stop

spending. Consumer spending is two-

thirds of the US economy. their T's and dot their I's Landlords are being warned to cross

when lodging their tax returns this financial year. The Australian Tax Office will be closely scrutinising investment properties transactions completed in 2006-2007. The crackdown will see more than $220 million data-matched against land titles records in each State. Stock purchases will also be examined. Checking the forecast: that's next.

And the CommSec finance report, when the Early News returns. Our top stories this Friday morning - another session on the slide - a technical glitch leads to the worst stock market freefalls this century. Murder investigation - police recover the body of a Perth lawyer Toll rises - 550 people killed in a powerful earthquake on the coast of Peru. And in breaking sports news, 3-time Melbourne Cup-winning mare Makybe Diva gives birth to a bouncing baby colt. Checking the weather briefly: Now with another look at finance, here's Kellie. Wall Street yet again hasn't provided a good lead. So local investors are bracing for another day of hefty losses at the open. Yesterday's freefall in share prices was compounded by an embarrassing computer glitch which halted trade on the Sydney Futures Exchange for over an hour. The shutdown caused panic in a market already awash with uncertainty. The sea of red said it all.

10 points shed from the share market within the first minute of trading,

the bloodbath sickening some. Especially when you are a small-time investor, and you're seeing your dollars kinda disappear, it's not a good sight to see. The market nosedived by more than 5% before finishing the day 1.5% down. The credit crash prompted by further falls in the US. The Treasurer called for calm. Our markets are functioning normally. He says while some borrowers using non-bank lenders will be hit, Australian banks have no reason to pass on the pain. Caught badly, RAMS Home Loans - their shares plummeting to 86.5 cents after floating at $2.50 just last month. Among other losers in the short term, self-funded retirees whose assets include shares - lower prices resulting in lower super fund payments.

And analysts warn the pain may not be over yet. All eyes will be on the stock exchange when it opens in just a few hours to see if the carnage continues. Leonie Mellor, Ten News. When I return, we'll cross live to CommSec

to see what we can expect when trade resumes this morning. Australians may be going to the polls sooner than expected. is flagging October the 20th Sydney's 'Daily Telegraph' as a likely election date. The paper notes that date would head off the negative publicity, which would come from an anticipated rise in inflation a few days later. The PM has indicated November 3 and 10 as his election preferences,

so Parliament can pass new laws regarding council mergers in Queensland. Indian doctor Mohammed Asif Ali flew out of Australia last night bound for India, but the move may cost him his job. The Gold Coast doctor who was quizzed by Federal Police

over his links with Mohamed Haneef will be sacked for taking unapproved leave. Gold Coast doctor Mohammed Asif Ali is on his way home to his family in Bangalore, India. Dr Ali booked his flight after Australian Federal Police returned his passport. At the moment he's just focused on seeing his family. He's been very stressed the last couple of days and spend some time with them. and he just wants to get home Dr Ali's passport was confiscated while Federal Police investigated his links with former terror suspect Dr Mohamed Haneef, but no charges were laid. Queensland Health suspended the doctor from his duties in late July after it was revealed

he faked three months employment on his resume. he wants to keep his Gold Coast job, Dr Ali stresses he wants o keep his Gold Coast job, but Queensland Health will sack the doctor for breach of contract. Oh, look, he's pretty upset about it. He's doing everything he can, within reason, to sort everything out with respect to that. Meanwhile, Federal Police have asked lawyers for Dr Mohamed Haneef to keep the second interview with their client secret. This follows the embarrassing leak of the first interview transcript that revealed Federal Police had tampered with some of the evidence. Anthony Donaghy, Ten News. A hunt for a killer is under way in Perth after the discovery of the body of Perth mother Corryn Rayney. missing for nine days, The Supreme Court registrar, was found buried next to a bush track in Kings Park, police finally removing her body last night. An oil leak from her abandoned car led police to the discovery. Police are searching for two men The flu has killed a ninth Australian. A 48-year-old woman was admitted to the Royal Adelaide Hospital on Monday and died early Tuesday morning. She worked at a private health clinic and was sent home ill on the Monday morning. The message I would want to give is that it is not too late for people to be immunised, and I think that's important that people understand that. And I particularly encourage health care workers to be immunised because they're more at risk. Tests have confirmed she was suffering from influenza A. A rescue effort is under way after a powerful earthquake killed more than 350 people and injured more than 1,000 on the coast of Peru. Some villages have been declared a state of emergency. Whole neighbourhoods have been reduced to rubble - here, just a door left standing. There isn't much to save, but these residents are taking what they can with them. Peruvian television has been showing the devastation caused near the centre of this earthquake, south of the capital, Lima.

In some areas, searches continue to see if anyone remains trapped. In the port of Pisco, a church has collapsed. The town's mayor says at least 200 people attending a service were buried in the rubble. It has taken many hours to reach the stricken region because roads have been blocked and communications cut. Hospitals around the country have been put on high alert, with emergency appeals for blood. staff has been called off A planned strike by some medical as extra doctors and nurses move into the area. And, with many neighbourhoods still unsafe, residents are staying outdoors, unable to return to their homes, which have been devastated by this earthquake.

Some hopeful news for the six trapped miners in Utah. Noises have been heard coming from the mine. Rescuers have pin-pointed the area where the noise was heard and air quality tests have just come in,

proving the air in the mine is breathable. But now 11 days into the rescue mission, mine operators are playing down the significance of the mystery noise. Hollywood legend Robert De Niro has opened his latest restaurant in Melbourne. Nobu serves Japanese cuisine, and while it's not cheap, the owners say you don't have to be an Oscar winner to eat there. The Raging Bull's still got some power in his arms, officially opening Nobu by cracking open a drum of sake. (All cheer) At a star-studded event,

cooking luminaries mixed with those not short of a dollar. Diners may need a similar pay packet to afford a meal at the high-priced restaurant, but, according to De Niro, it's worth it. I like the cod. That's one of my favourites. The original Goodfella was happy to talk food, but a question about his film career or family earned a swift rebuke. You talking to me? And it's unlikely we'll see De Niro whipping up dessert anytime soon. Do you cook?

No, I don't. (Laughs) Nobu likes it that way.

James Packer is responsible for bringing Nobu and De Niro down under, but the man who played a casino boss for Martin Scorsese says he's not a fan of the blackjack table. I don't gamble. I don't like to lose money. Nobu's open to the public from lunchtime, a birthday gift for De Niro, who turns 64 today. Ben Lewis, Ten News. Triple Melbourne Cup-winning mare Makybe Diva has become a mum for the first time. Australia's legendary racehorse gave birth to a baby colt just after 3:00 this morning at Coolmore Stud in the NSW Hunter Valley. The new arrival is said to be fit and healthy

and is rumoured to have the disguishing marks of four white feet. Dad is international sire Gallileo. Owner Tony Santic is yet to decide whether he'll retain the colt, but it's estimated it could fetch as much as $5 million as a yearling. Mum and son will remain at Coolmore until settled, before moving to Santic's property in Geelong. One of the most decorated footballers in AFL history, Mark Ricciuto, has announced this season will be his last. The Adelaide captain finally succumbing to injury after a 15-year career. Since debuting in 1993, Mark Ricciuto has been one of the game's greatest, but his glittering career will come to a halt at the end of the season. He reached the highs in both team and individual endeavours with a Premiership and Brownlow added to three best and fairests, All Australian honours and 309 games - but the emotion was too hard to hold. The last people I'd like to thank are the most important people in my life. Firstly, my mum and dad, Lisa, Craig and families and my fiancee, Sarah. It was a big day for skippers, with Collingwood's Nathan Buckley on the way back after 340 days. You looking forward to it? After 11 months, yep!

Former Melbourne coach Neale Daniher made a brief return to the club yesterday, ahead of skipper David Neitz's 300th game against Collingwood tonight, the first Melbourne player when the veteran becomes to reach the coveted milestone. To be able to play 300 games, whether you're 1st or 50th or whatever, is, I suppose, a testament to everyone who is in that club, to their longevity. Ian Cohen, Ten News.

As mentioned, the Australian stock market recorded its largest one-day plunge since the turn of the millennium yesterday, at one point falling a whopping 5.5%. For what we can expect today,

CommSec's Martin Arnold joins us live. Martin, will we see further corrections at the open of trade this morning?

There was a late strong rally on

the US share market over my eyes

and very much towards the close of

trade, which dragged our futures

higher. There is indicating there higher. There is indicating there

may be a positive start to the

local share market today, something

that would be welcomed by all

investors. The resources sector is

likely to be a significant drag likely to be a significant drag

today after a very sharp decline in

base metal prices overnight. The

Reserve Bank governor of France

Parliament today. Will his address

give any hints as to what we test

expect in the weeks ahead,

particularly with interest rates?

He was certainly be quizzed on the

volatility of the financial markets

that he is likely to reiterate the

strong fundamentals are local

economy is providing. The corporate

scene is very positive, it is as

conditions are good and earnings

are solid. He is likely to be less

vocal on the need for further interest rate creatures to tame inflation until there is some inflation until there is some

semblance of stability on a market. National weather today: Now for a look at the newspapers. The 'Australian' says Labor leader Kevin Rudd has backed the Prime Minister's attack on Queensland Premier Peter Beattie's plan to amalgamate local councils. The RAMS Home Loans Group announced it had been unable to secure refinancing for $6.2 billion, another 36%. sending the newly listed stock down The 'Sydney Morning Herald' says And Sydney's 'Daily Telegraph' says street-racing bus drivers have been caught putting pedestrians' lives at risk. A seventh person now charged over a horrific Melbourne murder. The details, and more, when the Early News returns. GOOD MORNING -

HAYLEY JENSEN'S BACK IN CANBERRA FOR HER DEBUT STRONGER TOUR - THE DETAILS SOON BUT FIRST - THE RECENTLY DISCOVERED BUDGET SURPLUS INCREASE HAS SPARKED NEW ATTACKS ON THE GOVERNMENT FOR LAST YEAR'S SCHOOL CLOSURES. THE A-C-T OPPOSITION SAYS THE SUPRISE SURPLUS CONTRADICTS GOVERNMENT CLAIMS WE WERE LIVING BEYOND OUR MEANS, AND THE CANBERRA SCHOOL SYSTEM WAS PARTLY TO BLAME. THEY SAY THE CLOSURES, AND TEACHER CUTS WERE ONLY JUSTIFIED ON THE BASIS WE WERE GOING TO HAVE A DEFECIT BUDGET.

MEANWHILE, THE A-C-T IS SET TO RECIEVE 37 MILLION DOLLARS TO GO TOWARDS UPGRADING LOCAL ROADS, HOSPITALS AND SCHOOL.. IT'S THANKS TO THE FEDERAL GOVERNMENT'S ANNUAL ASSISTANCE GRANTS ALLOCATIONS A-C-T SENATOR GARY HUMPHRIES IS HAPPY WITH CANBERRA'S PIECE OF THE PIE, WITH OUR ALLOCATION UP

BY MORE THAN FOUR PER CENT ON LAST YEAR. CANBERRA-RAISED SINGER HAYLEY JENSEN'S BACK ON HER OLD STOMPING GROUND TONIGHT FOR HER DEBUT "STRONGER" TOUR. HAYLEY SHOT TO FAME IN 2004, WHEN SHE PLACED FOURTH IN AUSTRALIAN IDOL.

SHE'LL BE PERFORMING FOR HER STRONG CANBERRA FAN BASE AT THE SOUTHERN CROSS CLUB IN WOEDON. TO SPORT AND ROYAL CANBERRA GOLFER DAMON WELSFORD IS SIX THOUSAND DOLLARS RICHER FOLLOWING HIS WIN IN THE NEW SOUTH WALES TRAINEE CHAMPIONSHIPS. THE ROOKIE PROFESSIONAL SURVIVED A TENSE FINAL ROUND AT THE COFFS HARBOUR GOLF COURSE TO RECORD A ONE STROKE VICTORY OVER DEFENDING CHAMPION ALEX

SIMPSON.. AND A LOCAL UNI STUDENT AND SOCCER STAR'S ARRIVED IN CHINA, AHEAD OF THE WOMEN'S WORLD CUP. THE UNIVERSITY OF CANBERRA'S SALLY SHIPARD WILL PLAY FOR THE MATILDAS, WITH THE TOURNAMENT KICKING OFF IN LESS THAN A MONTH.

NOW CHECKING THE LATEST WEATHER A HIGH NEAR NEW ZEALAND IS EXTENDING A RIDGE TOWARDS THE SOUTHEAST STATES WHILE A FRONT AND TROUGH LIES OVER NEW SOUTH WALES BECOMING FINE IN SYDNEY .. THE CHANCE OF SHOWERS AND 14 IN CANBERRA .. WHILE THE SHWOERS WILL EASE IN MELBOURNE THE CHANCE OF SHOWERS IN DUBBO AND 17 .. WET AND 14 IN WAGGA .. FINE AND PARTLY CLOUDY IN WOLLONGONG, 21 THE TOP THERE BATHURST SHOWERS AND 14 DEGREES .. SLIGHTLY COOLER AND 13 IN GOULBURN .. A SHOWER OR TWO IN BATEMANS BAY SHOWERS AND 16 IN MUDGEE .. PARTLY CLOUDY AND 20 IN MUDGEE .. AND SNOW FALLING IN THREDBO LOOKING AHEAD AND MOSTLY FINE TOMORROW WITH TOPS OF SNOW FALLING IN THREDBO FINE TOMORROW WITH TOPS OF

CHANCE OF SHOWERS ON SUNDAY, AND SLIGHTLY WARMER This program is captioned live. Welcome back to Ten's Early News. This morning, our stock markets smashed, and analysts say we needed this. The market correction wiped $21 billion off the All-Ords. Controversial departure - a Queensland doctor quizzed with Mohamed Haneef over the UK terrorism flies out for India. Murder charge - a seventh person accused of killing an intellectually disabled man in Melbourne. And Hollywood's raging bull waves the red flag to diners in Melbourne. Time for business news. Investors are bracing for another horror day when the market opens on the back of another day of triple figure losses on Wall Street. All the gains of the past year have been wiped out, the US housing crisis continuing to wreak havoc across the globe. Treasurer Peter Costello has called for calm. Our markets are functioning normally. There is liquidity in the markets. Some analysts say the falling markets mean good bargains are just around the corner. Bill, more on Qantas's record profit when I return. Gold Coast doctor Mohammed Asif Ali is on his way home to India but it may cost him his job. The doctor was questioned by Federal Police almost two months ago at the height of the Mohamed Haneef investigation but no charges were laid. Queensland Health suspended Dr Ali from his duties after it was revealed he had faked three months employment on his resume. taking unapproved leave to fly home Dr Ali will now be sacked for while he was still under investigation. Oh, look, he's pretty upset about it. He's doing everything he can, within reason, to sort everything out with respect to that. Dr Ali has stressed he would like to keep his job at the Gold Coast Hospital. A tragic accident on Sydney's North Shore this morning - a woman, believed to be in her 30s, was killed after being hit by a garbage truck. She was crossing the Pacific Highway at Crows Nest when she was struck around 2:30am. Ambulances were called, but the woman died at the scene. Rescuers in Peru have begun looking for survivors after a powerful 7.9 magnitude earthquake erupted off the South American coast. The quake killed at least 337 people and injured more than 1,300.

A second tremor followed 80 minutes later, measuring 6 on the Richter scale, which was then followed by other smaller aftershocks. Some promising news in the search for six trapped miners in Utah with test results just in proving the air inside the mine is breathable. The results coming back after noises were heard coming from the mine. A glimmer of hope for desperate families and tired rescue crews -

some sound has been detected by devices monitoring underground vibrations. It was nothing like three and then a pause and then three. It was just a period of spikes over five minutes of time. Because the sounds were random, there is no way to tell if the trapped miners are making them. Engineers are now drilling a fourth hole at the Crandall Canyon Mine, targeting the spot where the noises originated. But the owner of the mine does not sound optimistic. On the bad side, we have not recovered our fellow miners. We have not, for certain, located them. Even if the crews get the hole cut in record time,

they still have over 1,700ft to drill through. I don't think anybody understands, you know, how big of a mess it really is. And while the chances of survival are slim at this point, images from an underground camera show an undamaged shaft and ventilation curtain. The owner says that could mean the men found breathable air, Thousands of Elvis fans gathered overnight to mark the 30th anniversary of the King's death. Fans waited hours for their turn to make their way from Graceland's gates to Presley's grave site. Many were still queuing as the sun came up. We've been here for 13 hours waiting just to come up and do the candlelight vigil and go by the grave site. Even Aussie devotees made the pilgrimage to Memphis. It's very sort of safe and peaceful and just near the grave site it's really another world. 70,000 fans paid tribute overnight with more expected today. Lleyton Hewitt's US Open build-up continues to gain momentum. The Australian world number 20 spending just over an hour defeating Austrian Jurgen Melzer in straight sets at the Cincinatti Masters. tomorrow for a place in the semifinals. To the NRL, and Brisbane are hoping centre Justin Hodges can make a miraculous recovery from the flu

to face the Bulldogs tonight. The Broncos centre missed training yesterday, prompting this speculation from coach Wayne Bennett.

He didn't eat his strawberries. He didn't have his oranges. How bad's a virus? I don't know. All I know is he's not good enough to be here today to train. The Bulldogs boosted by the late inclusion of centre Willie Tonga, with a rib injury. who's missed two weeks A month of waiting has proved worthwhile for American soccer fans - David Beckham finally living up to the hype. Wearing the captain's armband for the first time, Beckham drew this free kick then stepped up to bend it like only he can.

Commentator: David! goaalll, gooaalll, goaalll! I don't want to sound too confident but I felt I was going to score as soon as I had the ball in my hands. It felt good. Sometimes you feel like that, sometimes you don't get any feeling. The Galaxy won the match 2-nil. Last check of business. Qantas has reported a 50% lift in annual earnings to almost $720 million and says it expects another strong result this year. Chief executive Geoff Dixon says the airline will return cash to shareholders

It's now been just on three years since Jetstar started from a standing start and we are just absolutely thrilled have reacted to that at the way both the Qantas brands and the position that Jetstar has found itself in the market. And I think it really is underpinning this result underpin the company going forward.

We've invested $12 billion in aircrafts since 2000 and we've got $25 billion worth of orders out there right now, and we fully expect to be making more orders within the next two months.

Does the upheaval on debt markets at the moment have implications for the airline industry, do you think, in any way? I think the upheavals on the debt markets will have implications for just everybody. Are you lucky Checking the forecast: That's it for Ten News. I'm Bill Woods. 'Bye for now. And I'm Kellie Morgan. Good morning. by the rustralian Caption Centre. Supertext captions by the Australian Caption Centre. www.auscap.com.au