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Ten Early News -

View in ParlView

(generated from captions) This program is captioned live.

Good morning. I'll Bill Woods. And

I'm Ellesa Throwden. Welcome.

Today's top stories - We're going

through the worst financial crisis

in our lifetime. PM outlines the

Government's plan to spend its way

out of the turmoil in his first

televised address to the nation.

The US steps up its efforts to tackle the financial crisis, tackle

spending $250 billion to buy shares

in the big banks. And Wayne Carey

pleads guilty to assault during a

court appearance in the US. But avoids a jail term.

The PM has warned Australians we're

going through the worst economic

crisis in our lifetime. In a

3-minute speech, Kevin Rudd further

outlined the Government's plan to

spend its way out of the turmoil

with a $10 billion Christmas bonus

first-home buyers. for pensioners, families and

TV programming across the country, The Prime Minister interrupted of a looming worldwide recession. calling for calm in the face financial crisis in our lifetime. We are going through the worst In an emergency meeting, of the surplus, Cabinet agreed to spend $10.4 billion the pockets of those who'll spend it. pumping money straight into From December 8, some low- to middle-income families all pensioners, carers and will receive the one-off, pre-Christmas cash bonus.

Carers will be paid a $1,000 bonus in their care. for each eligible person will receive $1,000 per child. 2 million families It would certainly take the ease and the bills that come along. off the presents and the food to help first home buyers, $1.5 billion is being spent but only until June next year.

The grant's doubling to $14,000. if you're buying a new home. It trebles to $21,000

Christmas bonus While the government-funded will be a big help to those eligible, will miss out. millions of Australians The unemployed, singles

or with grown-up kids and couples with no children get nothing. Meg Palmer, Ten News.

US President George Bush has US President George Bush has

announced an unprecedented bank

rescue plan using $250 billion

taxpayer dollars to buy shares in

that country's financial

institutions. The US Government

will spend some of its $700 billion

bailout package on buying equity

stakes in thenies's biggest banks.

Nine banks have already agreed to

accept the capital. They will make

clear the Government's role will be

limited and temporary. And they

will make clear that these measures

are not intended to take over the free market, but to preserve it.

Today we are taking deciseive

actions to protect the US economy.

We regret having to take these

actions. The stocks soared at the

open but the surge was short-lived.

The Dow is now down 270 points. They're taking some convincing.

Australian singer Delta Goodrem

rang the opening bell at the New

York stock exchange. And a detailed

look at the market shortly and the

rest of the day's finance news.

Former AFL player Wayne Carey has

appeared in a Miami court this

morning and pleaded guilty to

assaulting and resisting police in

a drunken confrontation last year.

He appeared and managed to escape

jail time after striking a deal.

Regretful of the whole incident. I

think I've made that clear on a few occasions.

occasions. I'm extremely apologetic

to the police officers and I'm

apologetic that this whole incident

occurred. The 37-year-old will have

to serve 50 hours of community

service and attend alcohol and

anger management classes. He will

serve two years probation also.

Investigators have confirmed a

computer glitch caused a terrifying mid-air plunge on a Qantas flight

last week. More than 70 people were

injured when the plane suddenly

lost altitude. all of us dead, Mate, I thought we were dead, everyone's freaking, even the stewardesses -

It continued to feed erroneous and

spike values for various aircraft

parameters to the airbt's flight

control primary computers. The

transport safety bureau says an

onboard monitoring computer

overroad the autopilot, -- overrode

the autopilot. Airbus has advised

it's not aware of any similar event.

74 passenger and crew were injured

where when they were hurled about

the cabin. Turbulence and a

passenger's laptop have been ruled

out. It provides guidance for the

crews to take certain action when

they observe certain warnings and

indications in the cockpit. The

full preliminary report will be

released next month. A man is dead

after crashing his car during a

suspected street race in Sydney

overnight. The driver was killed

when his van collided head-on with

a Honda sports car at Warwick Farm

shortly before 8 o'clock. The

driver of the Honda suffered chest

injuries and is in a serious

condition in hospital. Researchers

warn there could be an epidemic of

still birth financial the obesity

rate continues to climb and --

still birth if the obesity rate

continues to climb and if women

have children older. Around 2,000

babies are still born every year,

and that rate has nat dropped in 20

years. Deadly wild fires are

continuing to rauj in California.

battling More than 2,000 firefighters are

battling the flames while a fleet

of helicopters dumps water over the

area. The three wildfires have killed

killed two people and destroyed 30

homes north of LA. Thousands have

been evacuated. Former Beatle

Ringo Starr has turned his back on

his fans, appealing for them to

stop sending him mail. In a video

rant, the famous drummer says he's

just too busy. I want to tell you,

please, after the 20th of October,

do not send fan mail to any address

that you have. Nothing will that you have. Nothing will be

signed after October 20. If that

has a date on the envelope t will

be tossed. It's not the first time

Ringo has angered his fans. Vandals

once beheaded a sculpture of him in

Liverpool after he said he didn't miss miss his native city. Australian

all-rounder Cameron White admits

he's been battling nerves since

getting the call-up for the Test

series against India. The Aussies

touched down in Chandigarh ahead of

the second Test. White revealing he still doesn't feel like he belongs,

despite earning the prized scalp of

Sachin Tendulkar on debut. I felt

under pressure the whole time and

pretty nervous, the whole way

through the game. Just really

enjoyed the emotions of it and look

forward to hopefully getting

another opportunity. Paceman Stuart

Clark will be rested from today's

training. He has an elbow injury.

Qatar has fired a salvo of sorts

ahead of tonight's qualifier

against the Socceroos. The visitors

say they have no chance of beating

Australia and they would be more

than happy with a draw here.

REPORTER: Would you be happy with a

draw tomorrow? Of course. They're

fantastic. The Socceroos have won

both their meetings with Qatar

during this World Cup campaign.

Former world boxing champion Azumah

Nelson claims he's owed more than

half a million dollars from this half a million dollars from this

year's fight with Jeff Fenech.

Nelson is pursuing legal action

after claiming not being paid

hundreds of thousands. He says

Fenech and fight promoter Max

Markson have done him right. Fenech

and Markson deny any money is owed. Let's

Let's check the markets again now.

Thank you, Bill. Good morning. US

stocks have retreated after

short-lived euphoria over the Bush Administration's bank rescue plan.

St George shareholders will be

urged to vote against Westpac's

overtaking bid. Shareholders are advised to give the offer the

thumbs down as unions argue it will

lead to reduced competition and

5,000 job losses. Suncorp has abandoned plans to offload its

banking and wealth management

assets. The company had been in

talks to sell off Metway Bank but only received one offer. The news

saw Suncorp miss out on the strong

rally in the banking sector with

shares closing up just 10 cents.

Former ABC Learning boss Eddie

Groves admits expanding to the

business to the US and the UK was a mistake.

Here is the forecast for Wednesday.

The 'Age' says the woman who has

accused Theo Theophanous of

sexually assaulting her in 1998 was

too scared to speak until now.

Investors are being warned the huge rebound rebound on the Australian stock market

market won't stop a recession down

the track. The 'Australian' says

questions have been raised over the

independents of the review in to

the Northern Territory intervention.

The hottest girl band in the world

drops in to Sydney Harbour, not

literally. That's coming up. ACT Labor are really improving our schools. They've reduced class sizes, upgraded facilities and are building new state-of-the-art schools as well as putting the latest IT into classrooms, like Smart Boards. ACT Labor are also investing over $200 million into quality teaching, so that our kids are taught by the very best teachers. For our children's education, ACT Labor are: (OCKER ACCENT) Oi, get outta there. (OCKER ACCENT) I could eat a horse. And chase the jockey. (REFINED ACCENT) These vegetables and sauce are exquisite. Hear, hear. VOICEOVER: McCain Gourmet Creations add a touch of class to every table. We wish we could tell you the Liberals' plans for health, education, environment and community services, but their unknown and inexperienced leader is just offering quick short-term political fixes. Liberals - they're just not ready for government.

Don't risk it.

This is Ten's Early News. Kevin

Rudd's first televised address to

the nation. The PM warns of the

worst financial crisis in our

lifetime, while selling the

Government's $10 billion spending

spree. The US Government to invest

billions of dollars tine the

nation's biggest banks in its latest efforts to avoid a financial

meltdown. Investigators blame a

computer glitch for a Qantas

mid-air plunge that injured dozens

of passengers. But first, the PM

has warned Australians of tough

financial times ahead in his first

televised address to the nation.

During the 3-minute speech, Kevin

Rudd said he would take whatever

action is necessary to shield the

country from recession. We are

going through the worst financial

crisis in our lifetime. $10 billion of the surplus will be spent

boosting the economy with Christmas

cash bonuses for pensioners, carers,

millions of families and first-home buyers. The Government warns

without action the situation will

get worse. Unprecedented circumstances and that the

international financial crisis has

genuinely entered a new and very

dangerous phase. That's putting a

lot of pressure on Australia. Labor

says it will spend more public

money if needed to boost the

economy. US President George W.

Bush has announced one of the biggest banking interventions in

American history. The news sent US

stocks surging at the open but

they've dropped off since. The Dow

lower a short time ago. The

Government will inject $250 billion

directly in to the private banking

system. The money comes from the

$700 billion bailout approved by

Congress. But the radical twist

here is that Washington is buying

an actual stake in the companies. A

monumental step in the struggle to

ease the financial crisis. He's

measures are not intended to take over the free market but to

preserve it. All in my opinion of

the country's largest banks are

taking part. At the top, Bank of

America, JP Morgan and Citigroup.

$25 billion goes to each of them.

The announcement came a acouple of hours before Wall Street started.

Within seconds of the opening bell,

the Dow Jones soared by triple

digits. While the initial digits. While the initial euphoria didn't last, investors seemed

relieveed to see the most sweeping

intervention since the Depression.

The idea is to give banks a cushion.

The Treasury chief regrets having

to make the move. Today's actions

are not what we ever wanted to do.

But today's actions are what we

must do to restore confidence in our financial system.

With the latest on the market

reaction, we're joined by Juliette

Saly. Now is Wall Street looking in

the last hour of trade? We're

seeing a bit of a sell-off as

investors show caution after

yesterday's historic rally. We did

see the Dow rise by more than 400

points in early trade, following

that plan by Washington to buy up

banking stocks. Profit-takers have

moved in and the Dow is down around

200 points, about 2%. The Nasdaq

off 4%. We did see European share

marbts end in the black. The FTSE

up by more than 3%. What can we

expect on the local market? Well,

unfortunately, it's looking like

we'll pull back after rising by

more than 9% in the previous two more than 9% in the previous two sessions. That's been the sessions. That's been the biggest

2-day gain on the Australian share

market since 1975. We

market since 1975. We did have

higher commodity prices, that might

give some support. But it looks

like a day of selling here. The

futures down by about 4%. Thank you

for that. Thanks. The rest of the

finance day's news very soon.

Investigators have blamed a computer computer glitch for a Qantas

mid-air plufrp that injured dozens

of passengers cebz plunge that

injured dozens of passengers. The

aircraft lost altitude, flinging

people around the cabin and forcing

an emergency landing. The jet's

monitoring computer overrode the

autopilot, causing the plane to

rise before diving twice. This

appears to be a you know eke event

and Airbus has advised it's not

aware of any similar event over

many years of operation of the Airbus. Initial reports that

turbulence may have caused the

plunge have been ruled out. Airbus has

has issued new emergency

guidelines for passengers and crew.

A 20-year-old woman accused of

murdering her sister in their

family home will face a Sydney

court today via video link.

18-year-old high school student

Susan Worrall was found dead Susan Worrall was found dead last

week with stab wounds to her neck.

Her older sister has been charged

with murder and is in custody under

medical observation. The woman who

claims she was sexually assaulted

by Victorian MP Theo Theophanous

has told a newspaper she never

reported it because she felt

threatened. Now, in her 40s, she

says she suffer adbreakdown after

the alleged incident at State

Parliament House in 1998. Mr

Theophanous, who is married with

four children, has rejected the

accusation. That I have no case to

answer. Theophanous is yet to be

interviewed by police. The hottest

girl band in the world dropped in

to Sydney Harbour last night for a

special performance. Ten's

entertainment reporter Angela

Bishop was there. It is not every night there's a rock concert here in the Sydney Opera House forecourt, in fact you might think it is New Year's Eve. But no, it is just that the Pussycat Dolls have landed in town and I'm sure that it's music to the ears of many of our male viewers tonight. They're here for a special Xbox party and they are going to play all the hits from the classic, 'Don'tcha' to some songs off their new album called 'Doll Domination'. I caught up with them on the carpet on the way in to tonight's gig and asked them about rumours sweeping the world that they would be happy to have Republican Party vice-presidential candidate Sarah Palin as an honorary Pussycat Doll. Inside every woman is a Pussycat Doll, that's what we say. Even Sarah Palin, sure she's hot We're just all about the love but as far as politically, we just like to keep everything to ourselves. The Pussycat Dolls have one more performance before they leave Australia. Thursday night they are doing a fundraiser in Melbourne for the National Breast Cancer Foundation at QBH - tickets available now.

NRL - the Broncoose will be all but

dry next season after the club

imposed strict new drinking guidelines. Brisbane boss guidelines. Brisbane boss Bruno

Cullen says he had no choice,

follow agdisappointing end to this

year and criticism of a drinking

culture within the club. Broncos officials have had enough. It has been a matter of trust but we probably feel we've been let down in that area, and so we'll take back that responsibility ourselves now. It follows a dark end to the season, which included boozy nights out during the finals and an allegation of sexual assault. We're not going to have to say not only, you know, "Yes, you can have a beer tomorrow, but there'll be a curfew." As of 2009, the club will enforce an alcohol ban between Sunday matches and Friday night games.

There'll be Saturday recovery sessions and Sunday training. Family members will be invited to functions, curfews will be in place and players could be chaperoned. And if they break the rules... They could be suspended. Still with the Broncos, and Justin Hodges has been ruled out of the World Cup after being told he needs a shoulder reconstruction. Victoria Murphy, Ten News.

There are reports suspended Sharks

player Greg Bird has left the

country to visit his girlfriend in

the US. Bird is allegedly on his

way to meet Katie Milligan outside

the jurisdiction of his AVO which

he failed to have altered in court

last week. He can still be charged

with breaching the order once he

returns to NSW. It's the latest in

a string of incidents involving

Bird. He reportedly abused Cronulla

supporters last week and jumped in

to the back of a stranger's case,

demanding to be taken to a pizza shop. South Australian Stuart

O'Grady will wear the leader's

yellow jersey as the Jayco Herald

Sun Tour reaches stage 3. It

featured some tough climbs

yesterday. 35-year-old O'Grady

finding the energy for a late

charge. I'm rapt. It's a really charge. I'm rapt. It's a really

nice way to finish off the season.

I guess it's personal satisfaction

for me, for a lot of team for me, for a lot of team role

throughout the season. The Tour de

France veteran leads the event by

14 seconds now. Finance fluez. The

former boss of ABC Learning speaks

out. He has. Eddie Groves out. He has. Eddie Groves has

spoken publicly for the first time

about the company's financial crisis.

crisis. Two weeks after standing

down as CEO, he's admitted

expanding to America and the US was

a mistake. We went down a pathway

we probably shouldn't have gone

down. The saw shares plummet from

$8.80 to $54. He still believes

he's -- 54 cents. He still believes

he's the best person to run the

business. St George shareholders

will be advised to vote against Westpac's takeover bid. Unions

claim it will lead to 5,000 job losses and reduce competition.

Investors will vote on the merger

on November 13. And briefly, Harvey

Norman will release sales Norman will release sales figures

every week for the next month due

to the recent slump in retail

spending.

Let's have a look at the national forecast today.

Wayne Carey fronts a Miami court. That

That story next.

WOMAN: I like how Labor are protecting our environment with all those extra nature reserves. MAN: Yeah, and are behind solar energy options

and environmental rebates. They're also securing our water supply. That's important. VOICEOVER: ACT Labor:

The truth is, we are going through

the worst financial crisis in our

lifetime. The PM outlines the

Government's plan to spend its way

out of this turmoil in his first

televised address to the nation.

The US steps up its efforts to

tackle the financial crisis,

spending $250 billion to buy shares

in the big banks. And Wayne Carey

pleads guilty to assault during a

court appearance in the US but

he'll avoid jail time.

The PM has made his first televised

address to the nation, warning

Australians we're going through the

worst economic coisz in our

lifetime. In a 3-minute speech,

Kevin Rudd further outlined the

Government's plan to spend its way

out of the turmoil with a $10

billion Christmas bonus for

pensioners, families and first-home buyers. The Prime Minister interrupted TV programming across the country, calling for calm in the face of a looming worldwide recession. We are going through the worst financial crisis in our lifetime. In an emergency meeting, Cabinet agreed to spend $10.4 billion of the surplus,

pumping money straight into the pockets of those who'll spend it. From December 8, all pensioners, carers and some low- to middle-income families

will receive the one-off, pre-Christmas cash bonus. Carers will be paid a $1,000 bonus for each eligible person in their care. will receive $1,000 per child. 2 million families It would certainly take the ease off the presents and the food and the bills that come along. $1.5 billion is being spent to help first home buyers, but only until June next year. The grant's doubling to $14,000. It trebles to $21,000 if you're buying a new home.

While the government-funded Christmas bonus will be a big help to those eligible, will miss out. millions of Australians The unemployed, singles and couples with no children or with grown-up kids get nothing. Meg Palmer, Ten News.

The US Government will buy stakes

in the nation's largest banks under

a new plan to tackle the global

financial meltdown. Treasury will

spend $250 billion investing in

financial institutions, including

Goldman Sachs, JP Morgan and Bank

of America. Nine banks have already

agreed to accept the capital. First

the Federal Government will use a

portion of the $700 billion

financial rescue plan to inject capital in the banks by purchasing

equity shares. Today's actions are

not what we ever wanted to do but

today's actions are what we must do

to restore confidence in our

financial system. The Dow surged

more than 400 points on the news

but it was short-lived - but it was short-lived - it's

currently down more than 140 points.

Aussie singer Delta Goodrem rang

the opening bell at the New York

stock exchange. And a detailed look

at the markets shortly along with

the rest of the day's finance news.

Former AFL player Wayne Carey has

appeared in a US court this morning,

pleading guilty to assaulting and

resisting police in a drunken

incident last year. Nicole joins us

on the line from Miami. Can you

tell us what happened? Good morning.

Wayne Carey arrived here with his

girlfriend, Kate Nielson, to

support him, which was basically

the fine stage in ending this case

before the US courts. It came about

after many months of negotiations

between the prosecution and the

defence. What was sought was defence. What was sought was final

approval on a plea deal between the

prosecution and defence. The final

arrangements had to be signed off

on by the judge. She had to be assured that the footballer

understood what it meant to plead

guilty to two counts of battery of

police and one count of resisting

police with violence. Those charges

stem from an argument Carey had

with Kate Nielson at a luxury hotel

in Miami almost a year ago. During

the brief hearing, Carey officially

pleaded guilty to the three charges.

As he left the court, the As he left the court, the judge

wished him good luck. What wished him good luck. What

punishment has Carey received? Well,

he's got two years probation. 50

hours of community service that can

be done in Australia. He's also

been told he must attend an anger management and alcohol treatment

program. He must make a donation to

a police charity. And, finally, he

must write a letter of apology to

the three police officers involved

in that incident. It's been

suggested that that could be quite

a lenient sentence for someone who

has been charged with these offences. His defence attorney

dismissed that and said it's not

lenient at all and what this really

was at the end of the day was a

misunderstanding that should have

been cleared up many months ago.

Thank you, Nicole. A 20-year-old

woman accused of murdering her

sister in their family home will

face a Sydney court today via video

link. 18-year-old high school

student Susan Worrall was found

dead last week with stab wounds to

her neck. Her older sister Kathleen

has been charged with murder and is

in custody under medical observation. Investigators have blamed a computer glitch for a

Qantas mid-air plunge that injured

dozens of passengers. The Airbus

was on its way to Perth when it

suddenly lost altitude, flinging

people around the cabin and forcing

an emergency landing. A preliminary

report has found the jet's

monitoring computer overrode the

autopilot, causing the plane to rise before diving twice. This

appears to be a unique events and

Airbus has advised it's not aware

of any similar event over the many

years of operation of the Airbus.

Initial reports turbulence or Initial reports turbulence or a

passenger device might have caused

the plunge have been ruled out.

Airbus has told new emergency

guidelines will be instituted for

passengers and crew. A woman who

claims she was sexually assaulted

by a senior Victorian Government

Minister has told a newspaper he

destroyed her life. MP Theo

Theophanous has rejected the

accusation and says he has no case

to answer. Since announcing he's

stepping down from Cabinet, Theo

Theophanous has been avoiding

attention. Now, his alleged victim

has told the 'Age' newspaper she

was sexually assaulted by the married father of four at

Parliament House in 1998. Contrary

to reports she says she was never a

parliamentary staffer and only knew

Theo Theophanous socially when he

offered to show her around the

building late one night. The woman

now in her early 40s says the

alleged incident ruined her life,

causing her to spiral in to

depression and suffer a breakdown.

She moved to Greece where she still

lives. She claims after she was

assaulted, the Minister asked her

if she was loyal and that it felt

like a threat. That I have no case

to answer. The Premier learned of

the assault allegations from the

media. Like any other person, he's entitled

entitled to the presumption of

innocence. Mr Thestheyet to be

interviewed by police. -- Theophanous is yet to be interviewed by police. Deadly

wildfires are continuing to rage in California. More than 2,000 firefighters are battling the

flames while a fleet of helicopters

dumps water over the area. The

three wildfires have killed two

people and destroyed 30 homes north

of LA. Thousands have been

evacuated. Cricket firstly.

Australian all-rounder Cameron White admits he's been battling

nerves since he was given the

call-up for the Test series call-up for the Test series against

India. The Aussies touched down in

Chandigarh. Kwhiet says he Chandigarh. Kwhiet says he still

doesn't feel like he belongs, --

White says he still doesn't feel

like he belongs d spite getting the like he belongs d spite getting the

prize wicket of Sachin Tendulkar. I

felt under pressure the whole time

and pretty nerve ths whole way

through the game. Really enjoyed

the emotions of it and look forward

to hopefully getting another opportunity. Paceman Stuart Clark

will be rested from today's

training with an elbow injury.

Qatar is play agfew mind games

tonight. The visitors say they have

no chance of beating Australia,

despite sitting top of the group

and admit they'd be more than happy with a draw.

REPORTER: Would you be happy with a

draw? Of course I'd be happy with draw? Of course I'd be happy with a

draw tomorrow. The Socceroos have

won both their meetings with Qatar

during this World Cup campaign. Bad

news for rivals of super horse

Weekend Hussler. He will run in

Saturday's $2.5 million Caulfield

Cup. Trainer Ross McDonald

threatened to pull the horse

earlier this year if he drew a bad

barrier. -- wide barrier. Wouldn't

be right to the public to pull him

out. A defeat put down to a wide

barrier and pilot error in the

Turnbull Stakes. With the latest on

the market reaction, we're joined

by Juliette Saly from CommSec. How

is Wall Street looking thin final

hour of trade? We've seen the

volatility once again return to

Wall Street. We had a very positive

start. The Dow up by 400 points

after Washington announced plans to

buy $250 billion worth of banking

stock and we saw the profit-takers

move in. The Dow was down by about

2% and currently down 80 points.

Hopefully we will see it start to

claw back some of these losses.

What's expect offend our local

market today? We're looking at

profit-taking on our market as well

after that historic 2-day rally.

The best on our market in 33 years.

It's looking like a bit of a day of

selling. Hopefully high commodity

prices will give some support but

the futures are pointing to more

than 100 points or just over 2%.

Thank you. Thanks. Suncorp has

abandoned plans to offload its

banking and wealth management assets. The company had assets. The company had been in

talks to sell-off Metway Bank but

received only one bid last week.

The news saw Suncorp miss out on

the strong rally in the banking

sector with shares closing up just

10 cents. Here is the forecast for Wednesday.

Checking the newspaper headlines.

More on the financial assistance

package announced by the PM in package announced by the PM in the

lead-up to Christmas. More on the

US Government's decision to buy in

to major banks. The 'Sydney Morning

bureaucrats will be sacked as part Herald' says 20% of NSW's top

of cost-cutting measures. Ringo

Starr tells his fans what he really

returns. thinks. Details when the Early News

NELSON... COMING UP IN THIS GOOD MORNING, I'M FIONA NEWS UPDATE, PATRON'S CUP, BEATING COOMA BOMBALA TAKES OUT THE TO THE TITLE. MAN, HAS BEEN FOUND GUILTY FIRST UP, A 24 YEAR OLD WITH A DRILL, AT HER MELBA OF THREATENING A BABYSITTER HOME LAST YEAR. THE A-C-T SUPREME COURT, STEVEN JAMES DIAMOND, FACED AFTER HE AND HIS 39 YEAR OLD PARTNER, GLENDA YOUNG, THREATENED BABYSITTER JESSIE MAY, LAST FEBRUARY. YOUNG WAS FOUND NOT GUILTY OF THE THREATS, WITH DIAMOND TO BE SENTENCED IN DECEMBER. THE CLOUD SEEDING PROGRAM IN THE SNOWY MOUNTAINS, IS BEING PRAISED, FOR HELPING THE REGION COPE WITH THE ONGOING DROUGHT. LOCAL WATER STORAGES, ARE RISING AT LEVELS THAT

HAVEN'T BEEN SEEN IN AROUND FIVE YEARS. DESPITE THE RISE IN BUT SNOWY HYDRO SAYS,

TO TEN YEARS, OF ABOVE STORAGES, IT COULD TAKE UP LEVELS BACK TO FULL AVERAGE IN FLOWS, TO BRING CAPACITY.

ORGANISED FOR THE SEVENTH AND THE COOMA FAIR, CANCELLED. OF NOVEMBER, HAS BEEN STRUGGLE, TO FIND RESOURCES IT COMES, AFTER A COUNCIL AS FUNDING THE LIABILITY AND VOLUNTEERS... AS WELL INSURANCE COVER. FOR TWO THOUSAND AND NINE, THE FAIR, SHOULD BE BACK WITH IT'S PLANS FOR THE C-A SAYS, IT WILL GO AHEAD FESTIVAL ON THE SEVENTH. BOWLS CLUB, TOOK HOME THE AND IN SPORT, THE BOMBALA CLUB, TOOK HOME THE PATRON'S CUP AFTER THE WEEKEND'S COMPETITION AGAINST COOMA. THE CLUBS FACED OFF IN SEVEN GAMES OF TRIPLES, WITH BOMBALA WINNING FOUR OF THE HEATS, TO TAKE THE WIN, A HUNDRED AND 37 TO A A HUNDRED AND 33. NOW CHECKING TODAY'S WEATHER DETAILS... A RIDGE DEVELOPING OVER THE REGION WILL BRING FINE CONDITIONS AS AN ASSOCIATED HIGH MOVES EAST TO LIE OVER THE TASMAN SEA LATE IN THE WEEK. LOOKING ACROSS THE NATION TODAY - A MOSTLY SUNNY DAY FINE IN SYDNEY - MORNING DAY IN CANBERRA - BECOMING MELBOURNE SHOWERS CLEARING IN SUNNY WITH AN EXPECTED TOP CLOSER TO HOME - MOSTLY

SHOWER OR TWO FOR THE GONG OF 22 FOR DUBBO - AN EARLY CLEAR SKIES FOR WAGGA 22 CLOUD IN BATHURST 19 - FINE WITH JUST SOME MORNING PERISHER EIGHT FROST THEN SUNNY FOR HEADING FOR 19 DEGREES - MOSTLY SUNNY IN COOMA THREDBO WINDY AND EIGHT THE TOP FOR FEW DAYS ARE LOOKING FINE LOOKING AHEAD - THE NEXT HEADING FOR A TOP OF 21 AND SUNNY TOMORROW - WE'RE 24 FOR FRIDAY AND SATURDAY WE CAN EXPECT 26 DEGREES

.

Looking at today's stories. Kevin

Rudd's first televised address to

the nation. The PM warns of the

worst financial crisis in worst financial crisis in our

lifetime, while selling the Government's

Government's $10 billion spending

spree. The US Government to invest

billions in to that nation's

biggest banks in its latest efforts

to avoid a financial meltdown. Air safety

safety investigators blame a computer glitch for a computer glitch for a Qantas

mid-air plunge that injured dozens

of passengers. But first, the of passengers. But first, the PM has

has warned Australians of the tough

televised financial times ahead in his first

televised address to the nation.

During the 3-minute speech, Kevin

Rudd said he would take Rudd said he would take whatever

action is necessary to shield the

country from recession. We're going

through the worst financial crisis

in our lifetime. $10 billion of the

surplus will be spent boosting the

economy with cash bonuses for

pensioners, carers, families and

first-home buyers. The Government

warns without action the situation

will get worse. We face

unprecedented circumstances and

crisis that the international financial

crisis has genuinely injured a new

and very dangerous phase and that's put

put aglot of pressure on Australia.

Labor says it will spend more

public money if needed to boost the

economy. US President George Bush

institutions. The US institutions. that country's financial taxpayer dollars to buy shares in rescue plan, using $250 billion has announced an unprecedented bank

gone through record-breaking losses, gone through posttraumatic stress. We've through sort of like a market that's going up about 400 points. This market is now, about 20 points. We had opened like we're down about double digits looking before the close? It looks roller-coaster again. How are they cagey lot. A bit of a Alexis Christoforous. They're a

a record rally and the market is

trying to wrap its head around this

bailout plan and what it's going to

mean for taxpayers and the economy.

Most traders I spoke to said we can

now put aside the worst-case

scenario. We're not going to fall

tine a depression. They say the

market is starting to get back to

basics. We've got earnings reports,

big ones coming out big ones coming out this week. And

then tomorrow JP Morgan Chase. And

inflation numbers coming out. And

unemployment continues to creep up. So the fundamentals of this economy

is what the market is getting back

to and at least it knows the

crippled banking system is on its

way slowly to rising again.

Curiously, a positive day across

big Europe? Yes, indeed. We had a nice

big rally in both European markets

and Asian markets. And that did

happen here early on but again that

rally short circuited. Looks like

the we're going to finish the day near

the flatline. Bill? Thank you,

Alexis Christoforous. Wayne Carey

has appeared in a Miami court this

morning and pleaded guilty to

assaulting and resisting police in

a drunken incident last a drunken incident last year. He

managed to escape jail after

striking a deal. Extremely

regretful of the whole incident. I

think I've made that clear on a few

occasions. I'm extremely apologetic

to the police officers. I'm

apologetic that this whole incident

occurred. The 37-year-old will have

to serve 50 hours of community service and attend alcohol and anger anger management classes. He'll

also serve two years probation.

Investigators have confirmed a

computer glitch caused a dramatic

mid-air plunge on a Qantas flight

last week. More than 70 people were

injured when the plane suddenly

lost altitude. Terrified passengers

on board the Perth bound A330 are

seeking answers. I thought we were

dead. Last night they started to

get them. The faulty air data

reference unit continued to feed

erroneous and spike values for

various aircraft parameters to the

aircraft's flight control primary computers. The transport safety

bureau says an onboard monitoring

compruert overrode the autopilot,

causing the plane to dive deeply.

This appears to be a unique event

and Airbus has advised it's aware and Airbus has advised it's not

aware of any similar event over

many years of operation of the

Airbus. 74 passenger and crew were injured. Turbulence and a

passenger's laptop have been ruled

out and the manufacturers have

issued new guidelines. That

provides guidance for the crews to

take certain action when they observe certain warnings and

indications in the cockpit. The

full preliminary report will be

released next month. A man is dead

after crashing his car during a

suspected street race in Sydney

overnight. The driver was killed

when his van collided head-on with

a Honda sports car at Warwick Farm shortly before 8 o'clock. The

driver of the Honda received chest

injuries and is in a serious

condition in hospital. Former

Beatle Ringo Starr has turned his back on his back on his fans, appealing back on his fans, appealing for

them to stop sending him mail. In a

video rant, the famous drummer says

he's just too busy. I want to he's just too busy. I want to tell

you, please, after October 20, you, please, after October 20, do

not send fan mail to any address

that you have, nothing will be

signed after October 20. If that

has a date on the envelope, it's

going to be tossed. It's not the

first time Ringo has angered his

fans. Vandals once beheaded a

sculpture of him in Liverpool after

he said he didn't miss his native

city.

In the NRL, the Brisbane Broncos

will be just about dry next season

after the club imposed strict new

drinking guidelines. Brisbane boss drinking guidelines. Brisbane boss

Bruno Cullen says he had no choice

following a disappointing end to

the season and criticism of a

drinking culture within the club.

Broncos officials have had enough. It has been a matter of trust but we probably feel we've been let down in that area, and so we'll take back that responsibility ourselves now. It follows a dark end to the season, which included boozy nights out during the finals and an allegation of sexual assault.

We're not going to have to say not only, you know, "Yes, you can have a beer tomorrow, but there'll be a curfew." an alcohol ban As of 2009, the club will enforce between Sunday matches and Friday night games. Saturday recovery sessions There'll be and Sunday training.

Family members will be invited to functions, curfews will be in place and players could be chaperoned. And if they break the rules... They could be suspended. Still with the Broncos, and Justin Hodges has been ruled out of the World Cup after being told he needs a shoulder reconstruction. Victoria Murphy, Ten News.

There are reports suspended Sharks

player Greg Bird has left the

country to visit his girlfriend in

the US. Bird has -s allegedly on

his way to meet Katie Milligan outside

outside the jurisdiction of his AVO,

which he failed to have altered in

court last week. He can still be

charged with breaching the order

once he returns to NSW. It's the

latest in a string of incidents

involving Bird. He reportedly abused Cronulla supporters last

week and jumped in to the back of a

stranger's car, demanding to be

taken to a pizza shop. Finance taken to a pizza shop. Finance news. Unions getting involved in this

Unions getting involved in this

proposed Westpac takeover bid? They

have, Bill. The Finance Sector

Union is launching a national

advertising campaign, urging St advertising campaign, urging St

George shareholders to vote against

the offer. They're being advised to

give the offer the thumbs down as

unions argue it will lead to 5,000

job losses and reduce competition. Eddie

Eddie Groves has spoken publicly

for the first time about the

company's financial crisis. Two

weeks after standing down as CEO,

he's admitted expanding the company

to America and the UK was a mistake.

We went down a pathway we probably

shouldn't have gone down. The

global turmoil saw ABC Shares

plummet down to 54 cents. Mr Groves

still believe said he's the best

person to run

person to run ABC Learning.

That's the finance news for this

morning. Thank you. The hottest

girl band in the world, I'm told

that's an official term by the way,

not editorial comment. It dropped

in to Sydney Harbour last night

anyway for a special performance.

Angela Bishop was there.

It is not every night there's a rock concert here in the Sydney Opera House forecourt, in fact you might think it is New Year's Eve. But no, it is just that the Pussycat Dolls have landed in town and I'm sure that it's music to the ears of many of our male viewers tonight.

They're here for a special Xbox party and they are going to play all the hits from the classic, 'Don'tcha' to some songs off their new album called 'Doll Domination'. I caught up with them on the carpet on the way in to tonight's gig and asked them about rumours sweeping the world that they would be happy

to have Republican Party vice-presidential candidate Sarah Palin as an honorary Pussycat Doll. Inside every woman is a Pussycat Doll, that's what we say. Even Sarah Palin, sure she's hot but that's just got blown out of proportion. We're just all about the love but as far as politically, we just like to keep everything to ourselves. The Pussycat Dolls have one more performance before they leave Australia. Thursday night they are doing a fundraiser in Melbourne for the National Breast Cancer Foundation at QBH - tickets available now.

Thank you, Angela Bishop, with that report.

Recapping today's top stories. The

truth is, we're going through the

worst financial crisis in our

lifetime. The PM outlines the Government's plan to spend its way

out of the turmoil in his first

televised address to the nation.

The US steps up its efforts

The US steps up its efforts to

tackle the financial crisis,

spending $250 billion on shares on the

the big banks. And Wayne the big banks. And Wayne Carey

pleads guilty to assault during a

court appearance in the US but

avoids jail time. That's it for

Ten's Early News. I'm Bill Woods.

Goodbye for now. And I'm Ellesa

Throwden. Have a great day.

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