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Let's go straight to the scene Let's go scene where authorities are giving us an update.What can you giving us an you tell us? About 12:30 this morning the neighbours of the surrounding premises here at Deer Street were awoken by the sounds of popping and fire, what appeared to be fire coming from the premises. They quickly came out and saw that the unit was engulfed in flames. Shortly after 2 men appeared to come from the premises suffering some type of injuries. Emergency services were notified and attended fairly promptly and located 2 men with fairly serious injuries and those men that came from the premises, subsequently told us there were two other occupants inside the premises and at that stage they were unaccounted for. After the fire was put out by the emergency services a search of the premises was conducted where 2 deceased were located in the premises. What can you tell us about the deceased? The ages and whether they were the main occupants of the home? At this stage we believe they were the main occupants of the home. They were in their mid 40s and as I said, at the moment I can't tell you too much more about them. There has been speculation the police have attended the address before and I heard this morning that there was some sort of siege at the premises. All I can say at this stage is they are known to police but I'm not liberty to say for what.Have you been able to formally identify the two deseeded? We're making inquiries on who they are at the moment. We have an who they are but the next of kin haven't been notified.Have you been able to speak kin haven't been you been able to speak to the two men who were able to escape the fire? We two men who were able the fire? We have, yes. Investigators are with them at the moment. They've had a fairly traumatic night. They're in hospital at the moment suffering serious but nonlife threatening injuries and they're fairly traumatised. We have investigators with them at the moment trying to ascertain information out of them.What was the relationship between the men who survived and the deceased? Again still too early days for us to determine that yet. They're obviously known to each other.All four in the same place.Yes.Do you know how old they are? I believe they were in their mid 30s.What about the cause of the fire at this stage? Again, it's way too early to determine. Us investigator - arson investigators are here at the moment and chemists have just arrived at the scene. It's going to take some time for the scene to process and hopefully we'll have a result later on today to determine what it is so I'll put the cause as undetermined at the moment.Are you able to say what room the blaze originated? By the looks of the house, there's fairly ex tensive damage to the front. It appears the fire started there and moved towards the back of the house. The back of the house is fairly in tact. But the front is fairly extensive. It's too early to determine the exact cause of the fire. We're processing the scene with arson chemists, forensic chemist s.As the investigation goes on do you have reports of suspicious people in the street around the time of the fire? No, not at the moment. As I said, the witnesses that we have so far didn't indicate anything suspicious at all. They were woken by the noise of the fire and two men came out and appeared from the premises and from the 2 men what we can gain so far is they don't know the cause of the fire but certainly no suspicious activity was seen or heard before the fire.What options are there for the explosion s? It could be anything. Anything from if they were smokers, you know, a cigarette butt or certainly electrical appliance, gas or heating, there could be a range of explanations.Was there a meth lab in the of explanations.Was there meth lab in it's too early to meth lab in the home? Again it's too early that.Were there the remnants of any drug that.Were there the of any drug manufacturing? Too
early of any drug you're exploring? early to determine.Something exploring all avenues at the moment. Anything exploring all to how the fire moment. to how the fire started. I mean
there's to
moment. Anything that may lead to how the there's a number of options available and again, you know, there's a number of throughout the course of the available and again, you day I'm sure we'll determine throughout the course of the exact cause of the fire.Were they drug users, to your knowledge? Again, I can't comment on that. You know, as I said to you, they are known to police and I'm not at liberty to say why.So is this address known to police as the site of a siege? Again, all I can say to that is they are known to police and I'm not at liberty to say how or why.Can you just say more detail on the injuries of the survivors?They're at hospital at the mopt. They've been admitted. They have serious injuries, physical injuries and smoke inhalation but certainly not life threatening.What would be the police's message to the public in relation to this? If anyone can assist us who was here on the night or happened to be driving past and throw a bit of light on the situation we'd be happy to speak to them if they can please ring crooim stop - CrimeStoppers or anyone can throw any light on the occupants or deceased of the premises we'd be interested in speaking to them.What's your thoughts people have perished? Any fire involving death or people have perished? involving death or serious
injury is involving death or injury is certainly an horrific scene injury is certainly an scene to process and investigate. Hardened investigators are here today and we're finding it difficult to go through the scene and do what we need to do to find to go through the scene what we need to do to find out a result of why this occurred.Were the deceased located together? They were located in a bedroom at the front of the premises.Were they thought to be asleep at the time It's too early. What we have been told - I'll rephrase that. What we've been told from the witnesses is the deceased actually alerted the two other occupants of the fire. Sorry, the deceased notified the two other pockdy occupants of the home about the fire which assisted the other two occupants to get out but we can't piece together how both deceased didn't get out of the premises. That remains to be worked out.So were the smoke alarms working? Again, we don't know. We can't say at the moment. Preliminary investigations in relation to the scene have just start and we've just entered the scene now.Does it appear as though they were trapped in the room or anything like that? Are you exploring how they were unable to escape possibly? Again it's way too early. We certainly can see the position of both the deceased in the premises. Again, it's way to early to determine and I won't speculate or comment on that at the momentActing Senior Sergeant Lionel Murphy updating the situation on Deer Park where there was a fire. To politics, and the WA Premier has reignited the bate about increasing the GST. Latika Bourke, where did this come from? Colin Barnett is facing a deterioration in his Budget and he's identified at least one of the causes and he says the GST and how much WA gets a share of that. Now he sees his State as contributing very strongly to the economy because it is the mining boom state but it's not receiving a share back enough to fund the associated costs with being the mining boom State and that's an increase in population and thereby demand on infrastructure and so on. Now, Colin Barnett says - well he's complained for a long time about the share of GST that WA enjoys or doesn't enjoy and he has also been making noises for some time about needing to increase the GST or broaden its base to provide more revenue to the States from the Commonwealth but he's given a very frank interview with 'Lateline' last night where he's said that this will be a test for Tony Abbott. Of course, the Liberal premiers will be well aware that it's only under a Liberal PM they will ever see an increase or broadening of the goods and services tax. It is a Liberal tax, it's not a Labor tax. They fought it when it was introduced and still don't like any
it now and vigorously oppose any increase. Privately, many Liberals do agree that it does need to be increased or stable revenue but broadened, provide some it's one of the most politically stable revenue but obviously
it's one of politically difficult arguments to take politically difficult to take on and mount a case to take on and mount a it. It could it. It could take a government a whole term. Colin Barnett says Tony Abbott, the new PM, shouldn't be dissuaded.The GST pool in total, which is a bit over $50 billion, is not growing as quickly as peebl - people thought. So all States are saying GST needs to go up. Whether the rate goes up or some of the exemptions are got rid of, that needs to happen and, you know, if you start to get weak financial positions in the States then the obvious education,
services that suffer are education, health, policing and the like the things that actually affect people directly. Mr Barnett there sounding like a spokesman for the States and Territories. Is that how others will see it? Yes, certainly Colin Barnett is right to point out that there are many State and Territory leaders who want some kind of action on the GST. Now he mentioned there exemptions. One of those, for example, is the GST is not applied to goods for online that are worth below $1,000 and Queensland's Treasurer, for instance, he'd that's
like to see that applied. But that's as far as he would like on reform when it comes to the GST. Other State other Territory leaders have a different view and want a different view and want a more activist approach when it comes to any changes to activist approach when to any changes to the GST. One of those is the Labor ACT leader Katy Gallagher who haze - who has agreed with Colin Barnett and says this is something the politicians on the hill need to take on.I agree with Colin and in fact I was disappointed the GST wasn't looked at through the Henry tax review. I understand the reasons why it was ruled out. I mean it gets incredibly political and people can run an incredibly effective scare campaign on matters around taxation. But I think it is essential that GST is looked at. It's an efficient way of raising revenue. The problem is the Commonwealth has to take all the political heat on it. So Katy Gallagher pointing out the obvious, this is problematic for any Government that did want to take on this reform area. Labor when it was elected excluded the GST from an entire tax review. How you can review the tax system and not include one of the central taxes, the GST, was a surprise to many. Because it's a tax they don't like that's why they excluded it. The conservatives have promised a tax review in government in this first term and they will include the GST. Any changes or recommendations or proposals that come out of it will be taken into a second term should the Coalition win one. So it's not anything you're likely to see PM Tony Abbott take action on in the short term and even if he does in the long-term it's a guaranteed headache for the Government now.Indeed, thanks very much, Latika.US Secretary of State John Kerry has delivered a forceful message to UN Security Council that it must act on Syria next week.North America correspondent Lisa Millar has told us that his media briefing took everyone by surprise.John Kerry walked in, delivered a statement that lasted about 6 or 7 minutes. His message is this is not a game and it's not complicated. It's simple. The UN report showed that the Assad regime was responsible that only it had the chemicals, the know how, the rockets to launch that attack. And of course there's a certain amount of jockeying going on as leaders from around the world prepare to turn up in New York for the UN General Assembly and he - it's a pre-emptive statement to try and put the pressure on those people as they are turning up for this very important meeting. But let's have a listen to what John Kerry had to say. We have to recognise that the world is watching to see whether we can avert military action and achieve through peaceful means even more than what those military strikes promised. The complete removal of Syria's chemical weapons is possible here through peaceful means and that will be determined by the resolve of the UN to follow through on the agreement that Russia and the US reached in Geneva.John Kerry there. Lisa, what do you think the UN is going to say when they hear those comments? Well I think I was saying to Virginia earlier in the week when she asked me how long it might take for the UN to wade through all of this, I said it was not known for speed. I think this is an indication that John Kerry is also worried about how quickly or The problem with the or slowly things might The problem course, is that those members on course, is that those 15 members Council, now of which of course is Council, now of of course is the president for another week or two, the 5 another week or permanent members have another week or two, the been meeting permanent members been meeting and Russia China continue to be been meeting and China continue to be the ones who China continue to who are holding back China continue to be the who are holding back on getting who are holding an agreement through. What John Kerry wants now an agreement through. Kerry wants now is the framework an agreement through. What John
Kerry framework to try and Kerry wants now is the framework to try and make this agreement happen, that they arranged last weekend between the US and Russia, to eradicate Syria's chemical weapons. So that's what the Security Council has to come up with next week. But Russia and China always going to be the problem. In fact the Chinese Foreign Minister was in Washington today meeting with John Kerry and John Kerry delivered a message to him as well saying you've got to be a positive force next week in New York. It's just not good enough to try and say that it was the opposition, it was the rebels who launched this attack. The evidence is clear, let's just now move on.Lisa Millar talking to us a little earlier. Our top stories this morning on News Breakfast - 3 people have been killed in separate house fires in Victoria and Queensland. A 2-year-old boy died when a timber home was engulfed in Toowoomba and two people lost their lives in a burning unit in Melbourne's west. Victoria's Premier Denis Napthine says he doesn't support calls for an increase in the goods and services tax. The debate has been renewed by WA's Premier Colin Barnett who says the Federal Government needs to raise more money for public services.And the American banking giant, J.P. Morgan has been fined almost $1 billion for violating security laws. The bank has admitted failing to inform regulators about the loss of billions of dollars in complex deals known as the London whale trades. Regulators, as we've just mentioned, issued that almost security
$1 billion fine for violated security laws. Business editor Peter Ryan says the controversy centres around those and we in fact asked him what the London whale trades were all about. The London whale was a trader by the name of Bruno Ixel and he was based in J.P. Morgan's London office where they also-ran the chief investment office and his role ironically was to reduce risk and to manage excess deposits and these would have come from very high wealth customers. What he's started doing was taking out absolutely massive bets and when these bets started turning wrong and keep in mind he was making these bets with other people's money. J.P. Morgan suddenly discovered that the red flags were appearing and why wouldn't you if the losses start totalling $6.2 dollars US. When this emerges rather than calling in the regulators, J.P. Morgan tried to cover up the losses by rewriting valuations on assets that the bank was managing. But eventually when the regulators came in and the regulators have said that J.P. Morgan wasn't appropriately cooperating they've been quite scathing in their statement so there's a $1 billion fine , Bruno Ixel, the aptly named London whale, signed away a letter of cooperation which means he won't be fined and in the end J.P. Morgan hasn't been fined, they haven't apologised but they've essentially settled this to ensure that there won't be any major class action.Are they big enough to absorb a fine like that? Well, $1 billion for J.P. Morgan is pretty much a drop in the ocean but it's more than a signal that if you are not going to be doing the right thing by regulators, let alone doing the right thing by your high wealth customers, you're going to get a bit more than a slap on the wrist. But in terms of a $6 billion loss, a $1 billion fine doesn't sound all that much but in the context of 5 years after the collapse Brothers, questions are still being asked Brothers, questions being asked quite rightly about
what Brothers, questions are still
being asked what lessons have been after that collapse after that collapse of Lehmann Brothers almost sparked a global financial meltdown and global financial meltdown given what we're seeing in Europe at the moment, massively high unemployment, the US is still recovering but not recovering fast enough for the chairman of the US Federal Reserve Ben Bernanke to start winding back the massive economic stimulus they've been printing
having to pump out effectively economy
printing money to keep the US economy going. So big questions about the behaviour of Wall Street banks but to sum it up, another day, another big fine for a Wall Street bank not doing the right thing.Peter Ryan speaking a little earlier on the program. Let's go to the markets:

Now we have been bringing you that story about a fatal fire in Toowoomba that claimed the life of a 2-year-old boy. Queensland police have just done a press conference,lets take a listen.At around 6pm last night, Thursday last night, police from Toowoomba responded to a house fire at the corner of Jellico and Kenilworth Street, North Toowoomba. Sadly I can confirm that a 2-year-old boy died at the scene. 4 other children were present in the house. Two boys aged 10 and 11 and two girls aged 7 and 15 and they were taken to hospital for treatment as a result of the fire. What I can say is their injuries aren't life make a full recovery. Investigators are threatening and they should Investigators are on the scene again this morning with forensic investigators. Detectives have worked through the night and will continue to work through the day to bring the investigative phase to a speedy end. What I can say is that police are not treating the fire as suspicious. Our sympathies go out to the family, it's a very difficult time. However I will reiterate that this matter is not being treated as suspicious.I understand the 15-year-old girl was cooking and it was an oil fire, just a terrible tragedy, isn't it? It is a terrible tragedy. Police are preparing a report now which will be provided for the coroner, the full details of how this terrible event unfolded will be made known in that report so I what's
can't comment at this stage what's transpired.Were they home alone at the time? I can't comment on that. I'm not prepared to run a providing commentary about what happened or who was at home and who wasn't. Police do need to make a report to the coroner and the full details we provide in that report in due course. That's the update from the situation in Toowoomba an also from Deer Park in Melbourne where the two fatal fires overnight. Let's get some sport with Steve Pearce.Morning.A Hawthorn supporter.Yes.Feeling confident? Yes, still involved in the finals, just emphasising that.You're such a nasty pasty, nasty, nasty, nasty.Let's still hope you're there Monday.I may not be in Monday if that's the case. Hawthorn will be trying to win what will be its first match against Geelong in 5 years when they meet tonight in the prelim final at the MC G. No surprises, of course. Lance Franklin straight back in as is Cyril Rioli and why wouldn't you bring those two in? That's no disrespect to the two who were dropped out. Geelong, who is without Paul Chapman, who has been important to them over the journey, Taylor Hunt is also dropped. In Perth tomorrow a huge match as Fremantle looks to make it into its first grand final when it playing the reigning premier Sydney. Michael Johnson is a key in for the Dockers, Tom Sheridan drops out but Ben McGlinl and Gary Rome will offer a lot of pace for the Swans. The first of the NRL semifinals is tonight with Manly and Cronulla meeting for a place in the prel,mirkz. Luke Lewis, he's going to have the big job for the big job for the Sharks, fifth eighth Todd Carney was ruled out. eighth Todd out. Then officially again yesterday. out. Then officially yesterday. Andrew Fifita is expected to start for the Sharks as well. Brett Stewart is causing some concern for Manly, struggling with a hamstring injury. Melbourne Storm you can see there limbering up, they would expect to beat Newcastle at AMII Park. Queenslander Adam Scott is one shot off the pace after the first round of the PGA tour championship in Atlanta - Atlanta. He's 5-under par largely due to shots like this. He played a superb back 9. 29 shots he came back in and that included 6 birdies. So it was good stuff from the world number 3. He trails the leader and world number 2 Henrik Stenson by 1 shot. Jason Day, the other Australian who is in the 30-man field, he's at 2-under and a tie for 6th place. Phil Mickelson at tied 25th. And Tiger Woods at 3 over. A $10 million bonus for winning the Fedex Cup on the line over the weekend.And the yachting news, of course, this morning is that Team New Zealand is still waiting for the America's Cup as we've been saying earlier, one race completed and it went the way of the US. So this time tomorrow maybe everyone will be happy in Auckland. And of course all the Kiwi ex-pats who live here who will be hoping they can bring home that important trophy.Thank, Steve. Have a good weekend and good luck tonight. Vanessa joins us for the weather and I know Vanessa loves Fridays for photos.I certainly do. We've had some great ones today from Bondi and Brisbane. I love theor colours of a full rainbow, thank you. And Joe O'Brien is gallivanting around the country looking very lush in Gippsland with plenty of water in the dams I'm told. You can send your photos via Twitter or E-mail them into Breakfast.Around the nation for today we have a weak cold front. This has left behind brisk showers in Victoria and NSW. Another weak front will cause showers over WA's south-west and western Tasmania and elsewhere we've got this high and a couple of troughs that would draw the warmer winds into central Australia and Queensland.Over the weekend more fronts to pass over the west and south eastern parts of country: #

Thanks, Vanessa, have a good weekend to you and I'm sorry if we've raised more questions than we've answered this morning. What is Joe O'Brien from Innesvale who lives in Sydney doing in Gippsland taking photos? I'll have to do some resernl on that.Probably enjoying a after the fre enjoying a well-earned break after the fre net sism of election campaign. There's the lush hills of Gippsland. election campaign. There's hope he is enjoying himself. He deserves a good break. We know the whole country is football mad. We've got AFL and NRL finals so good luck to your teams whoever they are. We're not picking any sides given our teams are out of the competition. Battle of the beaches tonight and Hawthorn and Geelong to kick it off. Michael Rowland and Virginia will be back on Monday.So don't be scared. We'll see you again next Friday, have a great weekend and don't forget coverage continues on ABC News 24.Captions by CSI Australia

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Good morning. Welcome to 'Business Today' for Australia Network. I'm Whitney Fitzsimmons. Coming up on the program - time out, markets retreat after soaring to all-time highs on the Fed's decision to leave the money tap wide open.Difficult equation - more pressure on the RBA as the Australian dollar gets a boost from the Fed's surprise decision.And wealth disgap - the conundrum for Germany's leaders as Europe's powerhouse goes to the polls.Sos stories coming up shortly, but first a quick look at the markets: