More evacuations are expected today.Heavy rain continues to fall in large parts of New South Wales.Seventy people have been evacuated from Cowra,in the state's central west.There are evacuation warnings for five other towns, including Goulburn and Co...
And Greece's credit rating has been downgraded to below junk status.Rating agency,StandardPoor's has classified Greek debt as being in selective default.The European Central Bank says Greek bonds can no longer be used as collateral for loans to comme...
Right wing powerbroker,Senator Mark Arbib,says he hopes his decision to quit will help heal the Labor Party.Senator Arbib's quitting in the ministry and leaving the Parliament in the wake ofleadership battle.He was one the architects of Kevin Rudd's...
Nelson Mandela is back home after being discharged from hospital.The former South Africa president,who has been treated for a long standing of abdominal complaint and has undergonelaparoscopy.Government officials say,the tests didn't indicate anythin...
Rating's agency,Fitch,has downgraded the priced credit ratings of three Australian Big Four banks,citing higher funding costs.It downgraded Commonwealth Bank,Westpac and National Australian Bank to double A minus from double A.ANZ,which already had a...
Taking a look at the satellite imageTroughs over Queensland are bringing heavy rain and storms, a high is generating hot and dry northerly winds into southeast Australia while the trough is drawing cooler winds, the showers into southwest West Austra...
Kevin Rudd is due to fly to Brisbane in just under an hour and he will hold a news conference.The former Foreign Minister yet to formally declared he will stand in Monday's leadership ballot but he's expected to make some formal announcements at that...
Prime Minister is set to call a leadership ballot for Monday.Kevin Rudd lit the fuels yesterday when he resigned as foreign minister.Several ministers have publicly backed to Mr.Rudd and thrown their support behind the prime minister.Treasurer Wayne...
Go to finance.And theres been a mixed response to the Greek bailout on the markets. The Dow Jones topped the 13,000 mark for the first time since May,2008. European markets were cautious,closing lightly lower. Analysts say Greece can't afford to wast...
Juila Gillard and Kevin Rudd are refusing to bring the leadership crisis to ahead but that hasn't stopped the speculation. Bill Shorten,is latest minister to back the prime minister and leader of the Labor's Right faction,senator David Feeney says Ke...
