In business, Westpac has indicated interest rates will continue to rise this year. Westpac boss Gail Kelly says the bank's funding costs are continuing to increase. And she has told a federal parliamentary inquiry it's likely to be a while until they
Philanthropist and meida matriarch dame Elizabeth Murdoch has died. She was 103, she passed away peacefully surrounded by her family at her home outside Melbourne. Dame Elizabeth was a renowned patron of the arts and a tireless charity worker. Violen
Floodwaters in Brisbane have fallen rapidly overnight, revealing the extent of the clean-up that lies ahead. The Brisbane River is at about 2.8 metres and is dropping quickly. Floodwaters have already receded in some areas, leaving huge amounts of ru
The northwest Victorian town of Horsham is bracing for a one-in-200-year flood event. The SES says record floodwaters are expected to dissect the township later today or tomorrow. The Prime Minister will surely arrive in the town of Echuca, where the
Victoria's record floods look likely to spread to more towns across the north and west of the state. Horsham remains on alert, waiting for those floodwaters to peak later today. So far, six homes have been flooded and another 150 are under threat. Th
There is cloud stretching through western Queensland and New South Wales in a weakening trough. It is causing patchy rain and a few storms. Another trough extending through Western Australia is causing light showers. In Queensland today, monsoonal ra
The floodwaters are continuing to make their relentless advance through northwest Victoria. And things have taken a turn for the worst in Kerang. One of the levees protecting the town is leaking and could fail. Residents have been told they only have
Local shares are losing value with the banks and miners dragging the broad market down. The All Ordinaries index is slightly lower, and the ASX 200 is down about half a per cent. Stocks in the United States fell overnight with the market hit by profi
Taking a look at the satellite image first. Thick cloud over the northwest tropics around a developing tropical low is bringing scattered showers. Cloud over the northern territory in Queensland in a trough is triggering scattered showers and storms.
After days of steadily rising, Rockhampton's floodwaters should finally peak today. The Fitzroy River is expected to reach 9.4 metres, putting other 400 homes under threat. More than 500 people have already evacuated their homes. And St George in the
Finally, some good news from Rockhampton's flood emergency. There are far fewer houses flooded than first thought. Emergency services have revised the number down from 400 to 150. Authorities are hoping the worst may now be over, but the city will be
The US unemployment dropped to 1.5-year low of 9.4 per cent in December. New figures show the US economy generated a disappointing 103,000 new jobs. The Federal Reserve chairman remains cautiously upbeat about the country's economic recovery. Ben Ber
Fresh easterlies are bringing heavy showers and storms to southeast Queensland and eastern New South Wales. A trough is spreading showers across South Australia, Victoria and Tasmania. A monsoon trough is delivering widespread areas of rain and storm
The weather bureau has confirmed the Brisbane River is now at or near its peak. The level is yet to be officially announced, but it was last measured at 4.45 metres and was steady. The devastation is widespread, though. Twenty thousand homes are floo
Prime Minister Julia Gillard will be out and about in north Queensland later this morning to inspect the devastation. Yasi is gradually petering out as it moves west across the state. The monster storm battered several small coastal communities. Tull
Two months on from the Christmas Island boat disaster, the first funerals will today be held for those killed in the shipwreck. Family members of 12 of the victims live in Sydney and requested they be buried there. Seven survivors will travel from Ch
The Prime Minister Julia Gillard insists the health deal reached yesterday with the states and territories is a lasting one. The original demand for the states to kick in a third of the GST revenues been dropped. The agreement will produce the bigges
Prime Minister Julia Gillard will meet state and territory leaders at a COAG meeting on Sunday to try to finalise the health deal that Kevin Rudd signed with them last year. The Government has dropped its demand for 30 per cent of the states GST reve
Tropical Cyclone Carlos is continuing to thrash the Territory's coastline with gale force winds and widespread flooding. Darwin has seen 400 millimetres of rain, which has cut main roads and inundated at least 30 homes. Schools are remaining closed t
The Australian share market has snapped aseven-day winning streak after unrest in Egypt sent global markets tumbling.The All Ords and the ASX200 closed down nearly three quarters of a per cent. Despite a record annual profit of $14 billion, Rio Tinto
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