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Ten Early News -

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(generated from captions) This program is captioned live.

Good morning. Welcome to Ten News.

Making headlines today, police

investigate a huge explosion which

has torn through a Hells Angels

headquarters in Sydney.

Australia's economy given a record

shot. Historically low interest

rates and a stimulus. But will it be enough to avoid recession.

More flooding rain and chance of another cyclone on the More flooding rain and even the

way for Far North Queensland where

residents are struggling to stay afloat.

And in sport, Ricky Ponting and

Michael Clarke get the first tie

for the Allan Border Medal.

Brisbane, possible showers and 31.

First this morning - police are

still at the scene of a huge

explosion which has torn through

the headquarters of the Hells

Angels bikey gang in Sydney.

Witnesses reported hearing gunshots

at Petersham shortly before 2:00

this morning. Moments later, a

bomb exploded at the clubhouse spraying rubble and broken glass spraying

across the street. Laying in bed,

an explosion woke me up and blew me

on the floor. And then I looked out

the road at Parramatta Road and two

cars were blown on the other side

of the road. While no-one was injured, it's the second time the building has been bombed in the past two years.

The Prime Minister's $42 billion economic

economic stimulus package will put

money into the pockets of Australian families as early as next

next month, but pressure is

building on the Government to quickly implement the rest of quickly implement the rest of its

nation-building and jobs plan,

including billions of dollars of including billions of dollars of infrastructure spending.

It's Kevin Rudd's response to what

he calls a national economic

emergency. We have launched a

massive nation-building plan to

support jobs and small support jobs and small businesses

in the short-term, and to build

schools, energy efficient housing

and roads for the long-term. Within

weeks, millions of low to middle

income earners will each get

one-off lump sum payments of $950.

In all, $12 billion worth of cash

handious to workers and their

familys. There's more than $28

billion for nation-building,

including almost $15 billion for

school infrastructure and $6 billion for community and defence

housing. It's all designed to

protect 90,000 Australian jobs with

unemployment now expected to reach

7% next year. There is no guarantee

of success, but we will throw

everything at this. But that means

Budget deficits, with the first

expected to reach $22.5 billion.

The $22 billion deficit for the

year-end of June 2009 is mostly

constituted by the $19 billion of

extra spending. I recognise that a

temporary deficit may not be

temporary deficit may not be popular, but that is the global

reality we face with virtually all

governments now in deficit.

And former Trelsyuerer Peter

Costello has criticised Kevin Rudd's latest economic stimulus

package saying it will have little

effect. He said it should have

focused on lifting production and

investing in long-term job creation.

into It is going to go from a surplus

into a deficit because Kevin Rudd decided to put out $10 billion

before Christmas, he's going to

insulate homes, he's going to do

all sorts of things and it's a low

quality spend. The former treasurer Peter

Costello there.

And as widely predicted, the

Reserve Bank joined in the party, Reserve Bank joined in the party,

slashing interest rates by 1%. Good

news to customers for ANZ and Westpac, they've announced they'll

pass on the cut in full.

The official cash rate is now 3.25%,

the lowest level in almost 50 years.

We urge banks to pass this rate cut

on in full as rapidly as possible.

The Government has provided

significant taxpayer support to the

banks in return the banks should be

providing support to the broader

Australian economy by passing on

the benefit of any interest rate

cut. Westpac the first out of the blocks passing on the full rate cut

to home and business customers.

That will saifbl $166 a month ont

average mortgage of $254,000, and

bring total savings of almost $650

a month since September last year.

But economists are still expecting

further rate relief, penciling in

cuts of another 0.7 a% by April.

The RBA hopes the stimulus and the

rate cut will help prevent a recession.

recession. But some economists say

it's too late. It's not enough to

ward off a recession and you can

not expect. What is happening internationally is absolutely internationally

Dozens diabolical.

Dozens of families have been

forced to evacuate their homes as

flood waters in northern Queensland

continue to rise. More heavy rain

is expected in the already drenched

region and there may be another

cyclone on the way.

The town of Ingham in Queensland's

north looks more like a lake. The

roads in and out are blocked by

flood waters and the only way to

navigate the streets is by boat.

Hundreds of houses are inundated.

20 families have been forced to evacuate. Residents need a break in

the weather, but there's no

repreefbl in sight. More heavy

downpours are predicted. Because we

don't want any more rain and thaels the last thing we need in this

situation. A 650km stretch along

the east coast of the State is

drenched after being hit by

torrential downpours from

ex-Cyclone Ellie. Several

communities are isolated. Swollen

rivers are overflowing, making way rivers are overflowing, making

for dangerous visitors and

situations. It could catch people

by surprise, and what's normal a

calm turning into a tore en. The

deputy Premier will tour the region today.

2,000 passengers on the euro star

cross-channel rail service have

become the latest victims of the heavy snow sweeping across the UK.

The passengers were stranded when

snow falls forced the cancellation.

The UK storm was the heaviest in

nearly 20 years and authorities say

more is on the way. The more is on the way. The main

problem now, subzero temperatures

have coated everything in ice.

Sport now and skipper Ricky Ponting

and his deputy Michael Clarke have

shared this season's Alan border

medal. But the career of Andy

Symonds has reached a new low after

tour the 33-year-old was ruled unfit to

tour South tour South Africa.

As the Aussie cricketers gathered

in Melbourne, Andy Symonds was a notable

notable absentee. No, there's been a

a lot said. I want to stay away

from that. And ruep knows that his

team-mates are behind him. Symonds

won't be on the tour to South

Africa either. There's no doubt

that he changed and made some

improvement, but he's still got a improvement, but he's still got

little way to go. He actually came

out and said, I'm not healed of

anything in particular but I'm

working with the right people. And

I trust that process and I hope

that I can contribute with that.

Symonds hasn't met with Cricket

Australia since he was ruled out

of the South African tour, but as

he heads for another round of

counselling and rehabilitation, it's clear

clear he's on his last chance. I

think from a player's point of view,

we want the old Symo back and being

the person we know he can be. The

careers of Michael Clarke and Ricky

Ponting have reached a far brighter

phase. The pair joint winners of the

Allan Border Medal. This is an

amazing shock to me. I've been

sitting back in the table all night

and waiting for Pup and Mitch to and waiting for Pup and Mitch

get up here tonight and accept the award.

Former Swans player Tadhg Kennelly

has touched down in Ireland after a

decade-long AFL career in Sydney.

It was a white welcome for the

27-year-old who cited family

reasons for returning home before

his contract expired in September.

You know, I've missed home a lot I

suppose since my father passed and having injuries and what's

happened with the family kind of

rushed it a couple of years. And

that's the reason really, you know

I decided to come home. He hopes

to fulfil his career of playing for

Gaelic football team, Kerry.

Despite pay cuts for players,

Australian rugby union boss Australian rugby union boss John

O'Neil says Australia is well

placed to ride out the economic

crisis. With the new Super 14

kicking off on February 14, the ARU

remain confident they can draw crowds in theerls challenging

times. People still like to be

entertained. They still like entertained. They still like to

have a release, an outlet and sport

and rugby provides that outlet. NSW

and Queensland will play a trial in

Sydney tomorrow night.

To business now with Frank, and

Jerry Harvey is not afraid to make

the tough decisions and quickly.

That's right the boss of Harvey

Norman has been upfront about the

problems. He said that the five

sites, four in NSW and one in

Victoria aren't making nip money

and will be closed by mid-year.

He's already announced his Domain

store in Sydney will shut and up to

ten Harvey Norman stores this year.

His sales are up, but he says the

crisis is the worst he's seen in 47 years in the business.

Qantas shares have been placed in

a trading halt. It comes amid

speculation that the national

carrier will announce a bold equity

raising of about $500 million

today. It's the first such move by

Qantas in more than six years. It's

believed today's announcement may

include further job kults. Qantas

results are due out tomorrow.

In other business news, Westfield

is looking to raise $2.9 billion

through a securities placement as

it faces weaker asset values and falling sales.

Shares in Incitec Pivot fell.

Fortescue's CEO says a China ke

covery is just around the corner.

And economists are predicting

Australia's trade surplus era will

end and slip into deficit this year.

Wall Street edged up this morning

after a surprise rise in December's

pending home sales in the US.

Let's check today's weather details now:

The Government's stimulus package

dominates all of this morning's newspaper headlines. The 'Herald

Sun' says it will leave the average

family around $6,000 better off.

The 'Financial Review' reports that

the Budget will have the biggest

deficit in 15 years.

And the 'Australian' says it hopes

it will prevent the loss of around

90,000 jobs.

Iran upsets the western world by sending

sending its first self-made

satellite into space. The details when we return.

This program is captioned live.

This morning's main news - the

Government and the Reserve Bank

give Australia's economy a booster

shot. A record stimulus package and

historically low interest rates.

Police investigate gunshots and an

explosion overnight which has

destroyed a Hells Angels building.

England disappears under the biggest snow

snow storm in nearly 20 years, and even before they've dug even before they've dug themselves

out, more is on the way.

And it's wet and getting even wetter

in Far North Queensland. More rain

and maybe another cyclone on the way.

But first this morning, the Rudd But first this morning, the Rudd

Government's $42 billion economic

stimulus will put money into the

pockets of Australian familys from

next month. One-off sums of $950

will be given to low and middle

income earners and their families

with payments to be processed by

the tax office and Centrelink. the tax office and Centrelink. It's

hoped that it will boost economic

growth. I have absolute confidence

that this strategy, combined with

the great underlying strengths of

the Australian economy and people will see our nation through this

crisis. The nation-building and jobs plan aims to protect

jobs plan aims to protect 90,000

jobs over two years and includes

more than $28 billion worth of

infrastructure spending.

The cash splash has been largely

welcomed by welfare and business

groups, but those opposed have

accused the Rudd Government of misreading the economy.

The Prime Minister says the $42

billion nation-building splurge

will revive a struggling economy.

But critics claim the grand plan is

unnerved and losing grip. It's

poor quality spend. A lot of this

will come and go. The $10 billion

come and gone. Did you notice a

shift in the economy? No, of course

not. While economic experts are warning

warning of the long-term effects

and say the Government should ready

itself for an economic U-turn when things get back on track. The

exceptional measures introduced

over the past four months will need

to be withdrawn as soon as economic

recovery is entrempleed. With more

than half the population to receive

at least one, and possibly half of

the bonuses, it's never been a

better time to spend up big. A lot

of people are saying if this is a

recession, give me more. Interest

rates are falling and petrol prices

falling and retailer discounting.

The construction sector is a huge

beneficiary with billions being poured into low cost housing

projects and school upgrades. There's

There's a risk of 50,000 job losses

and the stimulus announced today

will certainly help offset that.

Two of Australia's four major banks

have immediately lowered their home

loan rates in the wake of the

Reserve Bank's decision to drop official

official rates by a full percentage

point. The Central Bank has cut the

official rate by 4% since September.

The new official rate of 3.25% is

the lowest in 45 years. It's not

enough to ward off a recession and

you can not expect that. What is

happening internationally is

absolutely diabolical. The rate cut

will shave about $166 a month from

an average of $250,000 mortgage as

long as banks pass it on. Westpac was

was the first to do so, followed by

asm NZ, the Commonwealth and the asm NZ, the Commonwealth and the National Australia Bank are still considering their moves.

A huge explosion has ripped through

the clubhouse of a bikey gang in

Sydney this morning. Police Sydney this morning. Police are

still on the scene of the Hells

Angels headquarters. The explosion

has severely damaged the front of

the clubhouse and shattered windows.

It's the second time a bomb has

gone off at this location in less

than two years. Just a massive

explosion, like deafening. Lucky

the window was open and then a big

puff of smoke and the cars on the

other side of the road, and then

you heard alarms going off. Police

say it's lucky no-one was injured.

A popular Melbourne restaurant has

been extensively damaged by fire.

Crews arrived on scene at Elwood

to discover the roof of the two

storey building well alight. Dozens of people were evacuated from

apartments at the back of the

restaurant, but no-one was injured.

Fire investigators will return to

the scene this morning to determine

what sparked the blaze which caused $250,000 of damage.

Flood waters continue to rise in

drenched North Queensland even as

another cyclone looms. The

worst-hit town of Ingham, worst-hit town of Ingham, already

under water has had more under water has had more rain overnight. 20 families have been

forced to evacuate their homes and

hundreds of others evacuated.

Deputy premier Paul Lucas will tour the region today.

Day two of the big chill in England,

and much of the snow which

blanketed the country's south has

iceed over. Businesses are counting

the cost of the biggest snow fall in the cost of the biggest snow fall in 18 years.

There were signs of normality in

Surrey as public transport began to

move again, although the problems

of the south-east are far from

resolved, at least commuters were

in with a chance of reaching their

destination. Staff at Canada House

in central London may be bemused

by Britain's failure to cope with

the snow and this gritter lorry's

failure to stick to the road. The

buses, absent from the capital's roads

roads yesterday passed the health

and safety test today and brought

some colour to the city's streets

again. Wales has taken the brunt

of today's snow fall. The of today's snow fall. The valleys

of the south finally getting the

treatment the rest of the country

had yesterday. Not all had yesterday. Not all drivers

managed to keep their wheels on

the road. Breakdown services have

had to deal with thousands of

callouts nationally and hundreds of schools have stayed closed

forcing parents and children to

stay at home. Still, with so much

snow to play with, the opportunity

for fun has for many been too good to

to miss.

Iran has sent its first home made

satellite into shall it, making its neighbours and enemies its neighbours and enemies nervous

about its ambitious space program.

The satellite named 'Omid' or

Hope'. Tehran opened the space centre last year.

Cricket Australia has run out of

patience with troubled all-rounder Andy Symonds. The Queenslander

remains a contracted player, but

his international future is now in

perill. He's been told he won't be

picked for the upcoming tour of

South Africa. He's actually come

out and said, look, I'm not healed

of anything in particular but I'm

working with the right people and I

trust that process and I've been a

part of that process, so I hope

that I can contribute to that.

Australia's tour of South Africa

begins in two weeks.

A big blow for the Socceroos with

Brett Emerton ruled out of

Australia's entire World Cup

qualification campaign because of injury. Harry Kewell remaining on

stand-by for the 22-man squad to

face Japan, providing he plays for

his Turkish club this weekend.

Brett Emerton will return home for

surgery after hurting his knee

playing for Blackburn Rovers. He'll be out of action for nine

months. He is always an important

player in our team, but we have

other players ready and available

and that's the way it works. Craig

Moore is the only player to hold

his place in the squad from last

week's Asian Cup qualifier against Indonesia.

Young Collingwood midfielder Ryan

Cook has been accused of seriously

assaulting another man. The club

has told Ten News Cook was

provoked and forced to defend provoked and forced to defend

himself at a function in Sale in

country Victoria. It's alleged he

punched a man twice, forcing punched a man twice, forcing the

victim to undergo extensive facial surgery. Cook has played 12 games for the for the Magpies. The announcement of the stimulus

package and the interest rate cut

on the same day was big news for the

the financial markets, and joining

me with the details is Juliana

Roadley. You predicted a 1% cut,

but what was the reaction of the

markets to the news? The markets

closed slightly higher, but very volatile after both of the

announcements. If you look at the announcements. If you look at the

true effects of the stimulus, it will

will take some time to come through

into the markets. The rates, if

anything, it did stabilise anything, it did stabilise the

Aussie dollar, and this morning,

we're up there 65 opinion 30US. So

we'll have to wait and see the flow-on effects on spendsing and housing

housing and jobs, but we're

actually expecting the RBA to go

further. We're looking for another

small cut in March or April. What

is it looking for for our market

today?. The markets in the US have

rallied. It looks like we'll close

higher. The DOW is up, the nads dak

up by 11. Most of this because of

good numbers coming out in pending

home sales. Pushing aside some more

US car sale numbers which were

dismal for General Motors and Ford.

Our market set to open up six

points higher after good points higher after good gains in

Europe, higher prices. But the oil

price, not so bad in early trade.

Thank you.

Now, business in brief and Harvey

Norman will close its five office

supply stores which it says are not

making nip money. Qantas shares have

have been placed in a frayeding have been placed in a frayeding halt amid speculation the national

carrier will announce a $500 million

equity raising stkpwhroifplt

stockland slashes 150 jobs. And

Wotif has previcted a 20% surge Wotif has previcted a 20% surge in profits this year.

Let's check the weather numbers now:

Coming up - fears for around the worldatesmen missing around

Australia. We'll have the details

next.

This program is captioned live.

Making headlines today - gunshots

and a bomb blast shakes a Sydney

suburb awake. Police investigating

an explosion at a Hells Angels headquarters. Australia's staggering Australia's staggering economy

given a double booster shot. A

record Government stimulus package and historically low interest rates,

but will it prevent a recession?

More flooding rain and even the

chance of another cyclone on the

way for far North Queensland where

residents are already struggling

to stay afloat.

And in sport, Ricky Ponting and

Michael Clarke score the first-ever

tie in the battle for the Border medal.

Checking the weather details:

First this morning, police are

still at the scene of a huge eggs

plogs which has torn through the

headquarters of the Hells Angels

bikey gang in Sydney. bikey gang in Sydney. Witnesses

have reported hearing gunshots at

Petersham shortly before 2:00 this

morning. Moments later, a bomb

exploded at the gub house spraying

rubble across the street. An

explosion woke me up and blew me on

the floor and then I looked out the

road of Parramatta Road and two

cars were blown on the other side

of the road. While no-one was

injured, it's the second time the

building has been bombed in the past two years.

The Prime Minister's $42 billion

economic stimulus package will put

money into the pockets of

Australian familys as early as Australian familys as early as next

month, but pressure is building on

the Government to quickly implement

the rest of its nation-building and

jobs plan, including jobs plan, including billions of

dollars of infrastructure spending. It's Kevin Rudd's response to what he calls a national economic emergency. We have launched a massive nation-building plan to support jobs and small businesses in the short term, and to build schools, energy-efficient housing and roads for the long term. Within weeks, millions of low- to middle-income earners will each get one-off lump sum payments of up to $950 - in all, $12 billion worth of cash handouts

There's more than $28 billion for nation-building, including almost $15 billion for school infrastructure and more than $6 billion for community and defence housing. It's all designed to protect 90,000 Australian jobs, with unemployment now expected to reach 7% next year. There is no guarantee of success, but we will throw everything at this. But that means budget deficits, with the first expected to reach $22.5 billion. is mostly constituted by the $19 billion of extra spending. I recognise that a temporary deficit may not be popular, but that is the global reality we face, with virtually all governments now in deficit. Murray McCloskey, Ten News.

And former treasurer Peter Costello has cit sidesed Kevin

Rudd's latest economic stimulus

package, saying it will have little

effect on the economy. Mr Costello

says the package should have

focused on lifting production and

investing in long-term jobs creation.

He is going to go from a surplus

into a deficit because Kevin Rudd

decided to put out $10 billion

before Christmas. He's going to

insulate homes, he's going to do

all sorts of things, and it's a low

quality spend.

Former treasurer Peter Costello there.

And as widely predicted, the

preserve bank joined in the party

by yesterday slashing interest rates

major by 1%. Good news for customers. Two

major banks, Westpac and ANZ have already announced they'll pass on

the cut in full.

The official cash rate is now 3.25%. The official cash rate is now 3.25%.

The lowest level in almost 50 years.

We urge banks to pass this rate cut

on in full as rapidly as possible.

The Government has provided

significant taxpayer support to the

banks. In return, the banks should

be providing support to the

broader Australian economy by

passing on the benefit of any

interest rate cut. Westpac the

first out of the blocks passing on

the full rate cut to home and

business customers. That will save

$166 a month on the average

mortgage of $254,000 and bring

total savings of almost $650 a

month since September last year.

But economists are still expecting

further rate relief, penciling in

cuts of another $0.75% by April.

The RBA hopes it will work together

to prevent a recession, but some

economists say it is too late. It

is not enough to ward off a

recession. And you can not expect that tw what is happening internationally.

Authorities fear the worst for a

72-year-old round the world sailor

after his vessel was found

abandoned off Australia. He set off

from New Zealand. He stopped radio

communication around a month ago.

His empty yacht has been discovered more

more than 1,000 km off the coast of earth.

There's been another ATM explosion

in Sydney this morning. Thieves are

thought to have pumped gas into the

N asm B machine at 3:00. The three

men blew up the machine before

fleeing in a white Holden comdor

with a sum of cash.

Dozens of families have been been

forced to evacuate their homes as floor waters in North floor waters in North Queensland continue to rise. More rain is

expected in the already drenched

region and there may be another

cyclone on the way.

The town of Ingham in Queensland's

north looks more like a lake. The

roads in and out are blocked by roads in and out are blocked by

flood waters, and the only way to navigate the streets is by boat.

Hundreds of houses are inundated.

see 20 families have been force today

see vak wait. Residents need a

break in the weather, but there's

no reprieve in sight. More heavy

downpours are predicted. We don't

want any more rain, that's the last

thing we need in this situation. A

650km stretch along the east coast of the state is drenched after

being hit with torrential downpours from ex-Cyclone Ellie. from ex-Cyclone Ellie. Several

communities are Isles owe lated.

Sweelen creeks and rivers Sweelen creeks and rivers are overflowing making overflowing making way for

dangerous visitors and situations.

So, it could catch people by

surprise, and what's normally a

calm area can turn into a torrent. The deputy Premier Paul calm area can turn into a raging

Lucas will tour the flood-ravaged

region as the Weather Bureau warns

of another chance of a cyclone forming.

Australian cricket captain Ricky

Ponting and his deputy Michael

Clarke have shared this sees on's

Allan Border Medal. But the career

of Andy Symonds has reached a new

low after the 33-year-old was

ruled unfit to tour South Africa.

As the Aussie cricketers gathered

in Melbourne, Andy Symonds was a

notable absentee. No, there's been

a lot of said. I want want to stay out

out of that. Andrew knows that his team-mates are behind him. Symonds

won't be on the tour to South

Africa either. There's no doubt

that he changed and made

improvements but he's still got a improvements but he's still got

way to go. He actually came out and

said, look, I'm not healed of

anything in particular but working

with the right people and I trust

that process and I've been a part that process and I've been a part

of that process so I hope that I

can contribute to that. Symonds hasn't met with Cricket Australia

since being ruled out of the South

African tour, but as he heads for

another round of counselling and

rehabilitation, it's clear he's now

on his last chance. I think from a

player's point of view, we want the

old Symonds back and enjoying

cricket and him being the person cricket and him being the person

that we know he can be. The careers

of Michael Clarke and Ricky Ponting

have reached a far brighter phase.

The pair join winners of the Allan The pair join winners of the Allan

Border Medal. This is an amazing

shock to me. I've been sitting back

in the table all night just waiting

for either Pup or Mitch to get up

here tonight and accept the award.

Former Swans player Tadhg Kennelly

has touched down in Ireland after a

decade-long AFL career in Sydney.

It was a white welcome for the 27-year-old who cited family

reasons for returning home before

his contract expired in September.

You know, I've missed home a lot, I

suppose since my father passed and

having injuries and what's happened with the family has kind

of rushed it a couple of years. And

that's the reason really, you know

I decided now to come home. He

hopes to fulfil his dream of playing for Gaelic football team

Kerry. Despite

Despite pay cuts for players,

Australian rugby union boss John

O'Neil says that the game is well

placed to ride out the economic

crisis. With the new Super 14

season, the ARU remain confident

they can draw crowds in these

challenging times. People still

like to be entertained. They still

like to have a release, an outlet

and sport and rugby provides that

outlet. NSW and the ACTBrumbies

tomorrow night. will play a trial in Sydney

Down to bills now with Frank and

someone who's not afraid to make

tough decisions and quick is Jerry Harvey.

That's right, the boss of Harvey

Norman was upfront about the

problems at the stores. He said

that the five sites for the new

stores, four in NSW and one in

Victoria aren't making money and

will be closed by mid-year. He's

in already announced his Domain store

in Sydney will shut and up to 10

Harvey Norman stores. The sales Harvey Norman stores. The sales are

up this year, but he says the

crisis is the worst he's seen in years. crisis is the worst he's seen in 47

Qantas shares have been placed in

a trading halt amid speculation

that the national carrier will

announce a bold equity raising of

about $500 million today. It's the

first such move in more than six first such move in more than

years. It's also believed today's

announcement may include further job cuts. Qantas results are due out tomorrow. Other finance news:

Wall Street has edged up this

morning after a surprise rise in

December's pending home sales. Now,

I can tell you the down Jones is actually even better: To the weather details now:

Coming up - fire strois a

well-known Melbourne rest aur an.

break. We'll tell you which one after the

NELSON. GOOD MORNING, I'M FIONA GOVERNMENT SAYS, IT WILL FIRST UP, THE A-C-T

BELCONNEN REMAND CENTRE, TO TRANSFER PRISONERS FROM THE CENTRE, AT SYMONSTON, TO THE FORMER YOUTH DETENTION OVERCROWDING, AT THE SYMONSTON, TO HELP EASE BELCONNEN FACILITY. TWO PRISONERS SPENT NINE THE DECISION COMES, AFTER BELCONNEN FACILITY LAST HOURS ON THE ROOF, AT THE CURRENT OVERCROWDED WEEK, IN PROTEST, OF THE CONDITIONS. ALL POLITICAL DONATIONS, THE RUDD GOVERNMENT, WANTS TO BECOME PUBLIC ABOVE A THOUSAND DOLLARS, INFORMATION, AFTER THE HOWARD GOVERNMENT, RAISED DISCRETION THRESHOLD, IN GOVERNMENT, RAISED THE TWO THOUSAND AND FIVE. HAS RELEASED FIGURES, WHICH THE ELECTORAL COMMISSION, COMMISSION, HAS RELEASED FIGURES, WHICH SHOW MORE THAN A MILLION DOLLARS, WAS DONATED TO THE LABOR PARTY, IN CANBERRA, LAST YEAR. LOCALS IN MURRUMBATEMAN SAY, THEY'LL BE FIGHTING TO KEEP THE POST OFFICE OPEN, DESPITE A PLAN, BY AUSTRLIA POST, TO HAVE THE SERVICE SHUT DOWN. WILL HAVE TO TRAVEL TO THE PLAN MEANS, RESIDENTS

TRAVEL TO YASS, TO PAY RESIDENTS WILL HAVE TO

PARCELS... BUT MAIL BILLS AND COLLECT AROUND MURRUMBATEMAN. DELIVERIES, WILL CONTINUE THE PLAN, IS HOPING TO HAVE A COMMUNITY GROUP OPPOSING AGENCY SET UP AT A LOCAL HOPING TO HAVE A POSTAL STORE WITHIN MONTHS. AND RAIDER JOEL THOMPSON, HAS BEEN CHARGED WITH ASSAULT, AND GRANTED BAIL, AFTER AN INCIDENT, WHICH REPORTEDLY HAPPENED LAST

MONTH. THE RAIDERS CLUB SAYS, THOMPSON HAS BEEN STOOD DOWN, FROM ALL OF HIS COMMITMENTS, INCLUDING

TRAINING, UNTIL HE FACES COURT AGAIN ON THE 25TH OF JANURAY NOW HAVING A LOOK AT TODAY'S WEATHER...

A WEAK TROUGH IS EXPECTED TO TRIGGER ISOLATED AFTERNOON SHOWERS AND THUNDERSTORMS IN THE REGION THIS AFTERNOON.

LOOKING ACROSS THE NATION - A POSSIBLE AFTERNOON STORM FOR CANBERRA - A MOSTLY FINE DAY FOR SYDNEY - A SHOWER OR TWO FOR BRISBANE AND DARWIN CHECKING WHAT'S HAPPENING ACROSS SOUTHERN NEW SOUTH WALES TODAY - THE CHANCE OF A THUNDERSTORM FOR DUBBO 37 THUNDERSTORM FOR DUBBO 37 DEGREES THE EXPECTED TOP THE CHANCE OF A SHOWER OR STORM FOR BATHURST 32 - MOSTLY FINE FOR BOWRAL WITH A TOP OF 27

MOSTLY FINE FOR NOWRA, HEADING FOR A TOP OF 28 - THE CHANCE OF A THUNDERSTORM FOR WAGGA 38

LOOKING AHEAD - THE FINE SUNNY CONDITIONS WILL CONTINUE INTO THE WEEKEND - TOMORROW - WE'RE HEADING

WEEKEND - TOMORROW - WE'RE HEADING FOR A TOP OF 36 FRIDAY - WE'RE EXPECTING 36 AGAIN

AND SATURDAY - WE'RE HEADING FOR 38 . With a chance to win $50 instantly when you find a winning message marked in specially Nestle Kit Kat or Allen's products, you never know when your luck will strike.

This program is captioned live.

Making headlines today - Australia's staggering economy

given a record shot, a record Government stimulus package and historically low interest rates.

But will it be enough to avoid But will it be enough to avoid a recession?

Police in Sydney investigate ago

huge overnight explosion which has

destroyed a Hells Angels building.

England digging itself out from

under the biggest snow storm in

years and more is on the way.

And it's wet and getting even wetter

in Far North Queensland. More rain

and maybe even another cyclone is on the way.

But first this morning, the Rudd

Government's $42 billion economic

stimulus package will put money

into the pockets of Australian into the pockets of Australian

families from as early as next

month. One-off sums of $950 will be

given to low and middle income

families with payments to families with payments to be

processed by the tax office and

Centrelink. It's hoped that the

payments will boost economic growth.

I have absolute confidence that

this strategy, combined with the

great underlying strengths of the

Australian economy in people will

see our nation through this crisis.

The nation-building and jobs plan

is designed to protect 90,000 jobs

over two years and includes more

than $28 billion in infrastructure spending. The cash splash has been The cash splash has been largely welcomed by welfare and welcomed by welfare and business

groups, but those opposed have

accused the Rudd Government and accused the Rudd Government and

misreading the economy.

The Prime Minister says the $42

building nation-building splurge will revive a struggling economy,

but critics claim the grand plan

shows the Government is unnerved

and losing grip. It's poor quality

spend. A lot of this will just come

and go. The $10 billion come and

gone. Did you notice a shift in the

economy? No, of course not While

economic experts are warning about

the long-term effects of deficit

spending and say the Government

should ready itself for an economic

U-turn when things get back on

track. The exceptional measures

introduced over the past four

months will need to be withdrawn as

soon as economic recovery is

entrenched. With more than half the

population to receive at least one,

and as many as four cash bonuses,

it's never been a better time to

spend up big.

A lot of people are looking at the

situation and saying - if this is a

recession, give me more of it. For

consumers, it's just a wonderful time. Interest rates are falling

and petrol prices are relatively

low and retailers are discounting.

The construction sector is a huge

beneficiary with billions poured

into low cost projects and school

upgrades. There's a risk of 50,000

job losses. The initiative of the

stimulus will certainly help offset

that.

And two of Australia's four major

banks immediately lowered their

home loan rates in the wake of the Reserve

Reserve Bank's decision to drop official rates by a full certificate pentage certificate pentage point. The Central Bank has cut the official rate by a full percent since September. The official rate is the lowest in buildings. It's the second time a bomb has gone off at the building in less than two years. Just a massive massive explosion, like deafening. Lucky the window was open and then a puff of smoke and the cars on the other side of the road and then alarms going off. Police say it's lucky no-one was injured. A popular Melbourne rest aur an has been extensively damaged by fire. Crews arrived on the scene at

Elwood around 9:30 last night Elwood around 9:30 last night to

discover the roof of the building

well alight. Dozens of people were

evacuated but no-one injured. Fire

investigators will return to the

scene this morning to determine what sparked the blaze which

caused $250,000 in damage. Flood

Flood waters continue to rise in

drenched North Queensland even as

another cyclone looms. The worst-hit town of worst-hit town of Ingham, already

unwater has had more rain overnight.

20 families have been forced to

evacuate their homes and 20 other others

others are inundated.

It's day two of the big chill in

England, and much of the snow which

blanketed the country's south has

iceed over. Businesses are counting

the cost of the biggest snow fall in 18 years.

There were signs of normality in

Surrey this morning as public transport began to move Although transport began to move again.

Although the problems of the

south-east are far from resoveed, at

at least commuters were in with a

chance of reaching their

destination. Staff at Canada House

in central London may be bemused

by Britain's failure to cope with

the snow, and perhaps a little

worried by this gritter lorry's

failure to stick to the road. The

buses absent from the capital's

roads yesterday passed the health and safety test today and and safety test today and brought

some colour to the city's streets

again. Wales has taken the brunt

of today's snow fall. The valleys

of the south finally getting the

treatment the rest of the country

had yesterday. Not all drivers

managed to keep their wheels on

the road. Breakdown services have

had to deal with thousands of

callouts nationally and hundreds of

callouts nationally and hundreds of schools have stayed closed

forcing parents and children to

stay at home. Still, with so much

snow to play with, the opportunity

for fun has for many been too good

to miss.

Iran has sent its first home Iran has sent its first home made

satellite into orbit making its

neighbours and enemies nervous

about its ambitious space program.

The satellite named 'Omid' will be

used to send reports to the new

Iranian space station. Tehran

opened the station last year

generating unease among countries generating unease among countries

already concerned about Iran's

nuclear and ballistic programs. nuclear and ballistic programs.

Cricket Australia has run out of

patience with troubled all-rounder

Andy Symonds. The Queenslander

Republic mains a contracted player,

but his international future is now

in perill. He's been told he will

not be picked for the upcoming tour

of South Africa. He's actually come

out and said, look, I'm not healed

of anything in particular, but I'm

trust that process and I've been a working with the right people and I

part of that process so I hope that

I can contribute to I can contribute to that.

begins in two weeks. Australia's tour of South Africa

A big blow for the Socceroos with

Brett Emerton ruled out of

Australia's entire World Cup qualification campaign due to

injury. Harry Kewell remains on

stand-by for the 22-man squad to

face Japan providing he plays for

his Turkish club this weekend.

Emerton will return home for

surgery after hurting his knee

playing for Blackburn Rovers.

He'll be out of action for nine

months. He's always an important

player in our team, but we have

other players ready and available

and that's the way it works.

Craig Moore is the only player to

hold his place in the squad from hold his place in the squad from

last week's Asian Cup qualifier

against Indonesia.

Young Collingwood midfielder Ryan

Cook has been accused of seriously

assaulting another man. The club

has told Ten News Cook was

provoked and forced to defend

himself in Sale in country Victoria.

It's alleged he punched a man

twice. Local police are

investigating the incident. Cook

has played 12 games for the Magpies.

The Lakers Kobe Bryant has broken

yet another scoring record in the

NBA. He tore up the court at

Madison Square Garden to notch up

61 points, the highest individual

score in the country's score in the country's history.

from Puts it in. He takes the record

from better nard King who shot 60

at the Garden in 1984. The New York

Nicks powerless to prevent the

barrage. Lakers defeating the barrage. Lakers defeating the home side 126-117.

The announcement of the stimulus

package and the interest rate cut

on the one day created a stir on

the financial markets. Joining me

with the details is Juliana Roadley

from Commsec. Now, you did from Commsec. Now, you did predict

a 1% cut, that was right but what

was the reaction of the markets to the news? The markets actually closed

closed slightly higher, but very

volatile after both of the

announcements were made. The true

effects of the stimulus package

will take some time to measure.

Rates - well the Aussie dollar

stabilised after that announcement.

This morning it is having a great

one at 65.35US. We'll have to wait

and see changes that will come

through in spending and the jobs

market and we expect the RBA might

have a little bit more work to do.

We're looking for another small cut

in March or April. Let's look at

the mark elt today. What are you

expecting? Well, our market, you

would have to expect a good day.

The US mark hes look like they're

going to close in positive

territory. The pending home sales

were up by 6.4%. They've also seen

the market pushing through the weak numbers coming through from car

sales from Ford and General Motors.

The NASDAQ up by 12. Our market is

set to open up 13 points higher. We

saw the gold price up $15, but gold

and base metals higher. And today,

the one we're looking for is the

December retail sales numbers to

see if we did spend a lot of cash

and push it through the tills over the Christmas period.

Thank you very much.

Business in brief now:

Kath, as we just heard there, we'll

have the retail sales figures,

they'll be very interesting and the

building approvals data to be

released today. Plenty still to happen.

Thank you. Well, let's check the

weather now around the

That is it for Ten News. I'm That is it for Ten News. I'm