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Eight out of 90 European banks have failed stress tests designed to ensure they can withstand another financial crisis. The European Banking Authority carried out the health check and says another 16 banks are in a dangerous zone. Five Spanish banks
Now Rupert Murdoch has arrived in London to be greeted by a political storm over the phone hacking scandal. The last edition of the News of the World has hit the streets, but its done nothing to calm the crisis. Britains Labour leader is calling on M
An Australian man accused of helping a people smuggler in Indonesia says he has done nothing wrong. Indonesian police have arrested the Iraqi refugee who now lives in western Sydney; claim he helped a known people smuggler to send 32 people to Christ
And the UN high commissioner for human rights says the Government's plan to send asylum seekers to Malaysia may violate international law. Navi Pillay says she believes the plan violates refugee conventions. She's also concerned about the safety of a
In business, a multi-billion-dollar offshore LNG facility has been given the green light off the WA coast. The Prelude, floating LNG plant has been developed by Royal Dutch Shell. It will be the first time that onshore processing techniques are used
A jury has found a man who threw his four-year-old daughter off Melbourne's Westgate Bridge guilty of murder. Arthur Freeman was found guilty after the jury deliberated for five days. The jury members had earlier told the judge they would not be able
And the Ivory Coast's beleaguered president is not giving up easily. Rival forces have tried to storm Laurent Gbagbo's home where he has holed up with his family. The latest reports say rival forces have been repelled for now. Mr Gbagbo's refusing to
And theres low in the northern tropics. The Bureau is warning it could still develop into a cyclone. And at the moment, its generating heavy squally rain across the Kimberley and Top End. A northern trough is triggering more patchy rain around Cape Y
The White House now says that Osama Bin Laden was not armed when American soldiers shot him dead. The governments also backtracked on its claim that Bin Ladens wife was used as a human shield. And it marks all the contradictions and finger-pointing.
Australian homes remain the most overpriced in the world - that's according to the The Economist magazine. The publication says that Australian property is overpriced by about 56 per cent, refuelling the debate over whether the nation's housing marke
Colonel Gaddafi has told America's ABC that his people love him and would die to protect him, but the world is getting increasingly impatient with the Libyan leader. The European Union has joined the United Nations by approving sanctions against his
A key independent is questioning the Governments whole carbon tax strategy. Tony Windsor has labelled the policy a mistake thats backfired. Mr Windsor says the Government should consider ditching the tax in favour of an emissions trading scheme. And
And the Tasmanian timber company Gunns has released a report showing its Tamar Valley pulp mill will deliver $10 billion to the Tasmanian economy over the next 20 years. Gunns hired Insight Economics to examine the economic impact of building its pul
Cyclone Yasi has been further downgraded to a category 3 storm, but has still left a trail of destruction in its wake. Mission Beach, Tully, Cardwell and Innisfail are among the worst-hit communities. Early reports coming out of Tully say the town ha
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
A new CSRIO report warns average temperatures will rise by up to six degrees celsius by the turn of the century, because of increasing air pollution. It says greenhouse gas emissions rose by three percent last year and almost as much as that again th
Efforts to avert the fiscal cliff are underway in the United States. President Barack Obama has met top US lawmakers, seeking a deal to head off a looming across the board tax hikes and spending cuts that could push the economy back into recession. I
Billionaire businessman Frank Lowy has praised Muslim leaders for their response to last weekend's violent protest in Sydney. Mr.Lowy says the strong condemnation of the violence is proof that multi-culturism is still strong. He is also calling for a
The investment bank Lehman Brothers has been ordered to pay millions of dollars in compensation to 72 Australia councils and charities. The Federal Court has ordered Grange Securities, which was taken over by Lehman Brothers five years ago, to compen
And when the markets in Europe closed a couple of hours ago, London's FTSE 100 was 96 points higher. In the US, trading comes to a close shortly and the Dow Jones is up 30 points, while the SP 500 is flat. And the Australian dollar is worth 105 US th