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(generated from captions) extremely well placed at 5-under par, just behind the man who is probably just slightly in better form than him on the US tour at the moment, Henrik Stenson who is at 6 under. Scott came back in 29 with 6 birdies which was an impressive performance. Jason Day, the other Queenslander, other Australian in the field he's in tie for 6th place at 2-under. But way down the leader board, Phil Mickelson top 30
and in penultimate place in the top 30 is Tiger Woods. Lit be an interesting weekend. That one finishes up Monday morning on our time but Adam Scott well place ed to wrap up would be an
incredible year for him but place ed to wrap up would incredible year for him but a
long way to go.Yes, indeed. Steve, Sophie Pearce, thank you very much.Thanks very much, Eliza.Let's find out what's happening with the weather ahead of that footy finals weekend. Vanessa O'Hanlon, I'm losing it here. You've completely lost it, don't worry I have too. Now we should probably explain that we have a director here who is Eliza in Steve's defence, so that's where he got it from, very, very random otherwise but I know that you're dying to see what will happen for the footy matches. We have one in Melbourne tonight and apparently I'm not a big, big footy head but apparently Hawthorn plays better in the drier conditions. Should be mostly clear at the MC G tonight. Up in Sydney where there's an NRL match it also be clear. Tomorrow we've got another couple of matches. An AFL one over in Perth and we might get some showers there and also in Melbourne for the Storm and Knights game.OK, and there's still some showers in the south? There is. We've got a cold front that's moved through Victoria, also through the southeastern parts of NSW. It's left behind brisk winds and also some shower, hopefully they will clear away soon and another big cold front, it's weak though, it's moving over the southwestern parts of country. More showers there and that will also affect the western parts of Tasmania. But much drier for the eastern a areas of Tasmania today which is some good news. They picked up some heavy rains falls over the past couple of days.It looks like a dominant high there over much of the nation, is that going to bring dry weather in the north? It is. It's quite a weak one. It's moving over NSW. So it means clearer conditions there. Might be a little bit chilly when you wake up tomorrow morning but the culmination of this and also another trough that's coming in from the west is quite a dominant feature. We'll see that very warm weather back in to the central parts of the country and then of course over towards Queensland and NSW.This one will move further off the south coast today. So some very hot temperatures again on the way.OK, let's take a look around the States.Sure. In Queensland:

Eliza.

Thanks, Vanessa and tell Eliza I love her work.Will do.The top stories on ABC News - house fires have killed four people in three states overnight. A toddler died in a fire in Toowoomba and four other children were hurt.In Adelaide, fire crews were unable to get inside a house to rescue an elderly man before he died.The good and services tax is back on the agenda, just three days into the new Abbott Government. The PM is being urged to reconsider his election promise not to lift the tax rate. WA's Liberal Premier Colin Barnett says the tax isn't bringing in enough money and needs to be broadened or increased. ACT Chief Minister Katy Gallagher has backed Mr Barnett's call.Russia's President has delivered mixed messages on plans to remove Syria's chemical weapons. Vladimir Putin now says he is not 100% sure the Assad regime will comply with the Meanwhile, the Deputy PM of Syria has told a British newspaper the Syria has told newspaper the country's civil
war

the government is ready to call war has reached a stalemate for a ceasefire.Hawthorn will be trying to win its first match against Geelong in five years when the sides meet in the first preliminary final at the MCG tonight. Lance Franklin and Cyril Rioli the MCG tonight. Lance and Cyril Rioli will return to the Hawks' line-up.We are going to go to Sydney now where the NSW Deputy Labor leader Linda Burney is speaking on the ALP's Federal leadership contest. Let's listen in.AlIt gives our branches, it gives our members and our branches a say in who will lead the Labor Party at the federal level and that's a good thing. REPORTER: So who will lead the Labor Party as far as you're concerned. I know it is an far
awful question to ask, but as far as you're concerned, who do you think will lead the Labor Party?Sorry, today, I'm very happy to say I will be supporting Anthony Albanese for the leadership. I've worked closely with him as a local member, worked closely with him in the transport portfolio, but I've also worked closely for the last 10-15 years in trying to advance the cause of GLBTI Australians. At conference of the Labor Party, Anthony as been supportive of advancing the rights and wishes of same-sex people across Australia. That's the main reason why I support him. I also support him because at this point in time we're lucky to have two people contesting the leadership who are so good, but I think Anthony has all of the skills we need to take us forward and to take the fight up to Tony Abbott. I think that Anthony's commitment to equality, I think his parliamentary skills, his ability to get on with every person who he ever works with is a skill that we need and the Labor Party needs.REPORTER: REPORTER: Without being trite, is Bill Shorten not up to job?This is a new process for us. The fact we have two outstanding candidates who are prepared to put their hands up actually means the Labor Party is in good shape. We'll come out of this stronger, but for me, Anthony Albanese is theperson I want to support, I encourage others to do that. Labor Party member also make up their own mind. For me it's based on my experience and relationship with Anthony, he stands up for things he believes in from the moment he joined the Parliament.I join Penny in supporting Anthony Albanese for the Labor leadership. He is my local member. I have known him for 20 years. I've seen him work to support the local community I live in, as well as a Labor Party member. His own personal story exemplifies what the Labor Party is B he is totally committed to the party, he is completely committed to his local community and for me, those are the reasons I will be supporting Anthony. those are the reasons I will supporting Anthony. On supporting personal level, Anthony Albanese - on a supporting Anthony. On a
personal level, Albanese - on a personal level, Albanese - on Anthony has been a mentor of Anthony has been mine since well Anthony has been a mine since well before I entered mine entered the Parliament. He given me support, entered the Parliament. given me support, direction,
and given me and I have seen his leadership skills and I have seen his skills and his analytical skills and his intelligence,.He cares about hisHe cares about his local hisHe cares about his community, is he a good person and his leadership is exemplary and I will be supporting Anthony Albanese. REPORTER: You're both from the Left faction, is this more than just throwing your weight behind the factional support.Penny is correct. We are so lucky to have both Bill Shorten and Anthony Albanese contesting the leadership. It is a good thing. I'm very pleased that our branch members will have a say in who leads the Labor Party. I truly believe we have two great contenders, but I believe that Anthony is one that should lead the party. He has dem strited that in both in Government and in Opposition for years now. His skills on the floor, his humour, his energy and his commitment to his local community, that's what does it for me, for Anthony.REPORTER: Labor has often been criticised at least federally recently for focusing on itself, talking too much about itself, are you worried that over the next month we will hear more of the same and we will get sick of hearing Labor talk about itself yet again?This is so exciting. We are in Australia for the first time having a contest where local people have a say, where branch members will have a say on who will lead the party. It's new and it's good for the Labor Party and - I can't remember your question.REPORTER: Are you worried that people will get sick of the Labor Party talking about itself?Yes, I think Labor has recognised absolutely that internal focus and division is death in politics. We know that. It's a well-known thing, but having this contest gives Labor a chance to really talk about what our values are, to demonstrate what our values are and to to are and to also say to the Australian people and most importantly to our branch members we are giving you a say.REPORTER: And on internal things as well, should John Robertson be here making at announcement as your State leader?Penny and I, as members of the Labor Party, are here making it clear on welcoming the process, saying that we have two great candidates, and putting our support behind one of those candidates. This is about Penny and I as individual Labor Party people, leaders within the party having our say believe
about what we should, we should
believe and who we believe should lead the Labor Party.Penny, will this come down to a battle between Left and Right?I don't think so. The majority of the Labor Party aren't actually in a faction. This process opens that up for the first time which is a very welcome thing. The Labor Party is facing challenges like most political parties and I think that the ballot gives every individual member one vote, something they've never had before in terms of choosing their leader and I think the members of the Labor Party are wise. They will deliberate on who they think is best to take it up to Tony Abbott, but they will also be looking at what is Labor going to take to the next federal election. Who is the best person who will actually be able to talk to the Australian people and tell them about the values that the Labor Party supports and how that works for them?REPORTER: Will the incoming leader, whoever happens it to be, whether it be Anthony or Bill, have to review the Labor Party's policies in light of the election result which most people agree wasn't simply caused by disunity?Of course, when you go into Opposition, you have to review all of those policies of thes that a policy that will be done within the Labor Party and within the Caucus and of course overseen by the Labor leader.REPORTER: Do you think there is any disadvantage for Labor in the next month in terms of taking it up to the new government?No, I've heard that argument put. I don't think that's the case. Chris Bowen is the Acting Leader and doing a very fine job. This process is about revitalising the Labor Party and, as I say, giving our branch members a say. The excitement amongst the branch members, the fact that we have people really - the fact that we have people coming to events in numbers that we haven't seen for a long time demonstrates to me that this process is important and is going to revitalise and grow the Labor Party. going to the Labor Party. I don't think
there will going to revitalise and grow the Labor Party. there will be a void. Look at the experience that there will be a void. the experience that still sits on the experience on the Labor Party benches in
Canberra. You've still on the Labor Party benches Canberra. You've still got
Anthony, still got Bill Shorten, still got Chris Bowen, still got really experienced people, Tanya Plibersek, I don't see that there will be any disadvantage at all to holding Tony Abbott accountable over the next month.REPORTER: Would either of you like to see this process happen in the NSW Labor Party after the next election, maybe? Look, there is a committee in NSW.Yes John Robertson has already endorsed the committee looking at it. My personal view is, yes, I think this is the way of the future for the Labor Party. I think the more people who actually decide who our leader is, the better that is. The people who share the values of the Labor Party have very strong views about who is best to lead the Labor Party and who they believe is the best performer both in policy, in values n how they work in the Parliament, and I completely trust the Labor Party membership to actually make that right decision. I want to be part that
see as many people as possible be part that have.And we were just hearing there from Penny Sharpe, the NSW Shadow transport spokesperson, and also joining her was the Deputy leader of NSW Burney. They were Burney. They were throwing their support in fact behind Labor's Federal leadership their support in fact contender, Anthony Albanese. Moving on to other political news and the goods and services tax is back on the agenda just three days into the new government. Tony Abbott is being urged to reconsider his election promise not to change the GST. WA's Liberal Premier Colin Barnett says the tax isn't raising enough money and needs to be broadened or increased. The ACT Chief Minister Katy Gallagher has backed his call and she is urging other State and Territory leaders to do the same.The biggest constraint on our finances is the GST and I know people are probably sick of hearing about, that but that is the thing that has caused the increase in debt. Now, if we slow down our capital works programs in WA, that will be alright in WA, but the rest of the country will feel it, and feel it very severely over coming years because the flow of revenue into the Federal Treasury will fall.I don't expect a white knight to come from Canberra and fill up our Treasury with money, but I do believe that Tony Abbott as PM and indeed any Australian PM does have to show leadership on fixing some of the fiscal imbalance of the Australian Federation.The GST pool in total, which is a bit over $50 billion, is not growing as quickly as people thought, so all states are saying actually GST needs to gup. Now, whether the rate goes up or some of the exemptions are got rid of, that needs to happen, and if you start to get weak financial positions in the states, then the obvious services that suffer are education, health, policing and the like. The things that actually affect people directly. A agree with Colin and in fact I was disappointed that the GST wasn't looked at through the Henry Tax Review. I understand the reasons why it was ruled out. 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.We're just hearing there from Katy Gallagher, the ACT Chief Minister. Before that we were hearing from Colin Barnett, the Premier of WA. Now let's check the markets with Alicia Barry. didn't last long?No, Nick, Alicia Barry. Yesterday's gains didn't last that's right. The boost from didn't last long?No, Nick, the US Federal that's right. The boost the US Federal Reserve's
decision the US decision to leave its stimulus measures unchanged has faded already. The Australian share market is following a drop on Wall Street overnight. Wall Street overnight. Right now, the All Ordinaries index is down around a third of a percent, as is the ASX200 index. Wall Street dipped overnight. The Dow Jones industrial average closed off a thid of a percent. The S&P 500 index fell around a fifth of a percent. In London, markets played catch-up, too. The Federal Reserve's inaction. The FTSE jumped by 1%, although our graphics aren't participating this morning. Germany's DAX index added 0.7%. Spot gold is continuing to rise and the price of WTI Crude has dropped. While the decision to pump more cheap cash into the system has given a boost to the Australian dollar, it has come off slightly since yesterday's jump above 95 US cents and worgd around 94.7 US cents. US and British regulators have fined the American banking giant JPMorgan almost $1 billion for losses made by the trader known as the London Whale. JPMorgan result of
lost more than $6 billion as a a
result of the trades involving a number of complex deals N a statement to the Securities and Exchange Commission, described their accounting controls as woefully deficient. The firm says it accepts responsible failing to oversee risky trading failing to trading strategies. Certainly it's a milestone for the SEC, one of the first times that it's ever happened that a company has been forced to admit wrongdoing N the past, companies settled without admitting or denying guilt, so it's a pretty significant event.Last month, criminal charges were filed against two former JPMorgan traders involved in the case. The British Financial Conduct Authority says the bank's failings under mined trust and confidence in financial markets.The latest statistics on the pay packets of Australia's top executives salaries of
reveals a small drop in the salaries of business leaders. The average pay of chief executives within the top 100 publicly listed companies was $4.7 million last year. The figure is $20,000 less than it was in 2011. The Council of super investors' calculations includes bonuses and shares. Westfield Co's executives Peter and Stephen Lowy topped the list, sharing a $21 million salary. That doesn't sound too bad, Nick. Back next hour with hopefully some working graphics, for you.Yes, indeed. I wouldn't mind a bit of that action either. Is there or isn't there a housing bubble? It seems it's hard to get a straight answer. The RBA is keeping a close watch on how interest rates are affecting the market but some analysts suggest Australia cob headed for trouble. Here is John Barron from the ABC's Fact Check unit.There has been a lot of talk about an emerging housing bubble fueled by low interest rates. Investment strategists Paul shul ter thinks interest rates should be increased because he says Australian banks are lending too much money.The interest rate structure seems awfully low, especially given that the overall level of aggregate debt is exceptionally high in Australia, one of the highest in the world in terms of the loan-to-deposit ratio for the banks being 120%.Essentially he is saying that our banks have lent $120 or every $100 they have in deposits. That's the loan-to-deposit ratio. Last year the Reserve Bank showed that Australia was ranked second only to the UK and just ahead of Sweden on that score, so Australian banks were lending much more than they held in deposits, but is that actually a problem? For Australian banks, lending for things like mortgages and commercial loans is a major part of their in shares and Overseas banks do in shares and bonds, as well as in shares investing in things in shares and bonds, as well investing in things like
infrastructure, investing
in shares and bonds, as well as investing in infrastructure, so the loan
part of their investing in things like infrastructure, part of their business is smaller than it is part smaller than it is here.You New York let's take a New York let's take a look at the deposit New York let's take the deposit side of this ratio. the Australia the deposit side of this Australia measures bank deposits more conservatively than some countries. We don't include sources of funding like interbank loans and 7-day interbank loans and 7-day bank bills. Other countries do. Australia only measures deposits in savings accounts and term deposits, so we may have less on the deposit side of the ratio, and Australia's position is improving. Local data released last month showed our ratio was $111 lent for every $100 deposited. That's down from 135 last year, and that's partly because we're putting more of our money in the bank.So, while Paul shul ter's claim that Australia's loan-to-deposit ratio is high checks out t doesn't take into account the stable nature of Australia's banking system and the fact that our loan-to-deposit ratio is getting better. The claim is overblown. That's a Fact Check. There is more on our website. You can follow us on FaceBook and Twitter.This week the royal commission into child sex abuse began hearing disstreging case studies. Jamelle Wells attended the hearing in Sydney which has been examining systematic failures in a number of institutions.This is the first public hearing in Sydney of the royal commission that has been going since April this year, and the commission is using particular case studies to look at a range of child welfare agencies and this case study was of a man called Steven Larkins. Now, he is currently in jail for possessing child pornography also on a and forging documents and he also on a good behaviour bond for abuse against two former Boy Scouts. Now, what we've heard is that over a decade, he managed to not only be a Scout leader, but also be employed by the Hunter Aboriginal Children's Service, an agency in charge of child welfare and providing foster care for Aboriginal children, and we know that when he was in the Scouts , he sexually abused two boys, and these two boys came forward in the 1990s, but the Scouts didn't sack him. They asked him to resign and we've heard at the inquiry that that's because the scouting organisation didn't want to attract bad publicity. Over the past few days, the Commission has heard that he nevertheless was able to be employed by this Aboriginal children's agency and while he was working there, he forged his working with children reference check and he was even able to get permission for a 17-year-old boy who he was grooming for sex to be allowed to live with him. And yesterday we heard a colleague who worked with him knew of rumours about him abusing children when he came to the children's service, about you she said when she confronted him, he became very agitated and very angry and he threatened to sue for defamation.Jamelle Wells speaking about the Royal Commission that got under way in Sydney this week. For of 0 years, two Gold Coast sisters have given their lives to teaching ballet, but this week Joy and Dawn Ransley will take their final bow at a gala performance which involves 160 of their past and present students.Joy bansly knows good ballerinas need balance, timing and grace.And one, and two, and now keep out, Lauren, stay out, good girl.Joy and her sister, Dawn have taught young dancers for six decades. The past three have been on the Gold Coast.We took over the studio of Australia's First Ballerina, Kathleen Gaum when she died.They're busy choreographing a farewell concert for a city which has steadily grown to love there
balletWhen we first came, there was absolutely nothing. We opened this theatre. I think we did 'Swan Lake', I think it was. No, it was sleeping beautyIt was 'Swan Lake'.In her youth, join was a ballerina before joining Dawn as a teacher. They've produced dancers work with the dancers who have gone on to work with the Royal Bali Company work with Company in London.Friday night's gala may be the final curtain call for Joy and Dawn Ransley, but young Gold Coast performers can rest assured the show will go on.Brooklyn, keep your eyes about you so you know the changes.Joy's daughter, Nicole, is an accomplished performer who is taking over the company.For me this has been something I've been wanting to do for a long time, since I was little, I grew up around this.A family tradition poised to be passed on.Time now for the latest weather with Vanessa O'Hanlon.A weak cold front has left behind brisk winds and showers in Victoria's south-east and NSW. Another weak front will move across WA's south-west and also cause showers across western Tasmania. Elsewhere, troughs and a high that is controlling the weather and therefore clear skies. In Queensland, the trough will move through the eastern interior and off the south coast this morning with dry and gusty winds:

And that's where we will leave our Australia Network viewers. I will be back shortly with more of the day's top stories here on ABC News 24.


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This morning - house fires kill four people, including a 2-year-old boy.Investigators are here today and we're fiding it difficult scene and it difficult to go through the to find out why this occurred.

This Program is Captioned Live.

The new government under pressure from WA and the ACT to consider raising the goods and services tax.Mixed messages from Russia over plans to remove Syria's stockpile of chemical weapons.And Hawthorn prepares to battle Geelong for a place in the AFL Grand Final. Good morning. You're watching ABC News 24 and the Australia Network across Asia and the South Pacific. I'm Nick Grimm. Taking a quick look at the