NewsRoo.com.au

A compact weekly review of Aussie news for Australians abroad
By Vince Chadwick and Benjamin Hope

October 11th 2008

Covering Australian News of 04/10/2008 to 10/10/2008













Australian Money
Image: InfoMofo

Reserve Bank cuts interest rates by 1%

The Australian Federal Reserve Bank cut the cash rate by 100 basis points to 6% this week, the largest single cut in 16 years, as the first in a series of expected falls to address the global credit crisis. Major retail banks have promised to pass on up to 80 % of the cut, with Commonwealth Bank head of retail banking service, Ross McEwan, saying the bank was reducing rates as much as possible given the high wholesale and off shore funding costs. Both the Prime Minister and Opposition leader Malcolm Turnbull welcomed the 1 % cut and Mr Turnbull vowed to scrutinise any reasons the banks give for not passing on the full savings to consumers.

Qantas A330-300
Image: Terence Ong

Qantas in another mid-air drama

Preliminary investigations have revealed that a glitch in the stabilization system may be to blame for the most recent drama involving a Qantas plane. 303 passengers and 10 crew members were on board the Airbus A330-300 en route from Singapore to Perth when it dropped 650ft in about 20 seconds, returned to cruising level and then fell 400ft in 16 seconds, throwing the crew and passengers around the cabin. The pilot made an emergency landing at Learmonth, 40km from Exmouth in Western Australia, as more than 50 passengers were treated for injuries including cuts, bruises and spinal injuries. In July of this year, a Qantas Boeing 747-400 made an emergency landing in Manila after a mid-air explosion blew a hole in the fuselage.

Stock Exchange
Image: Rednuht

Australia unlikely to slip into recession

The International Monetary Fund (IMF) has delivered a positive economic outlook for Australia, saying it is doubtful the country would slip into recession despite the deepening global credit crisis. The global outlook report released on Wednesday predicted a 2.5 % growth for the Australian economy in 2008 and 2.2 % for 2009. China also received a positive outlook, which Finance Minister Lindsay Tanner predicted will shield Australia from the worst effects of the credit crisis through a strong export trade. The Prime Minister also highlighted the strength of Australian banks which the World Economic Forum ranked at 4th out of 134 countries, but left open the possibility of government protections on bank deposits.

Tasmanian Devil
Image: Wayne McLean

Australia's endangered list continues to grow

The latest Red List documenting endangered species around the globe has found 788 of Australia's plants and animals are under threat. Tasmanian devils were among those most in peril due to the contagious Devil Facial Tumour Disease which has seen a 60% population decrease in the last ten years, according to the list sponsored by the International Union for the Conservation of Nature. With 57 mammals considered under threat Australia has the worst record of any industrialised country which experts primarily attriuted to human interventions such as water extraction, urban sprawl and 'uncontrolled pastoralism.

Camera
Image: pointnshoot

Henson reignites controversy after school visit

Controversial photographer Bill Henson has again made headlines after it emerged he was granted access to walk around St Kilda Park Primary School in Melbourne searching for models. The then principal of the school Sue Knight is co-operating with an investigation launched by Victorian Education Minister Bronwyn Pike after complaints by parent groups and the Australian Primary Schools Association. Earlier this year Henson prompted a national debate about the limits of artistic expression when one of his exhibitions in Sydney was cancelled and police confiscated works depicting naked children for consideration under the Crimes Act which forbids 'publishing an indecent article', before deciding not to lay charges.

Satellite
Image: NASA

Former stargazer looks forward and upward

Australia's new chief scientist, Professor Penny Sackett has flagged climate change as the issue likely to take up most of her time. Following her appointment by Science and Research Minister Kim Carr last week, Professor Sackett has also pledged to lobby to have the world's largest telescope built in Western Australia and to consider whether Australia should have its own satellite. Currently the nation purchases its satellite information from other countries. The former head of astrophysics and astronomy at the Australian National University in Canberra said her first priority however, would be assessing what impact the recommendations from the recent Garnaut report to cut carbon emmissions by 10% before 2020 would have from a scientific view-point.

Prison
Image: Recurringdreams

Port Augusta prison riot

Rioting prisoners fed up with overcrowding and lockdowns have seized control of a cell block at the Port Augusta Prison in South Australia. The prisoners took control of the high security Bluebush cell block around 4pm Thursday afternoon, climbing to the roof with home-made placards reading: 'sick of lockouts' and 'sick of bashings.' South Australian Correctional Services spokesman Chris Thompson said no injuries had been reported and he hopes for a swift resolution. As police and correctional services personal surrounded the prison Mr Thompson refused to comment on accusations of overcrowding, including claims from inmates that up to 3 prisoners are housed in one-person cells.

Rugby Ball
Image: Eamonn

Manly Sea Eagles win rugby league grand final 40-0

Melbourne Storm was defeated by the Manly Sea Eagles 40-0 in the rugby league grand final last Saturday, the greatest grand final triumph of all time. Retiring Manly forward Steve Menzies ended his record-equalling 349 game career on a high note, saying the win surpassed the clubs last premiership win in 1996. Storm centre Israel Folau, who will depart the club for a four-year contract with Brisbane, described the loss as the worst performance in his two years at the club. The Manly Sea Eagles were rewarded for their performance on Tuesday with six of their players named in Australia's squad for this month's rugby league world cup.

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