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Standing Wager
Merchant of gloom makes a bet

29 Nov 2008 2:30 AM

An academic who expects zero interest rates within two years and a 40 per cent drop in house prices has promised to walk from Canberra to the top of Australia's highest mountain if he's wrong.

University of Western Sydney associate professor of economics and finance STEVE KEEN made the bet with Macquarie Group interest rate strategist RORY ROBERTSON.

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High Scores Longest Chase
Police chase stolen car 250km from Wagga to Canberra

20 Jan 2009 12:21 PM

CANBERRA, Jan 20 AAP - Police have arrested a 26-year-old man in Canberra following a 250km high-speed car chase that started in south-western NSW.

NSW police started pursuing the stolen car in Wagga Wagga on Tuesday morning and ACT Policing took up the chase when the driver crossed the border into the territory.

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High Scores
Police dissappointed by young drivers

14 Dec 2008 4:28 PM

Police have arrested a man for driving at 237 kilometres-an-hour on Sydney's Hume Highway.

And .. they say they are extremely disappointed with instances of irresponsible driving by young and inexperienced motorists overnight.

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High Scores Possible New Blow
Man blows six times legal limit

31 Dec 2008 2:16 PM

BRISBANE, Dec 31 AAP - Queensland police have caught a man with an alleged blood alcohol reading more than six times the legal limit.

A 28-year-old man from Peak Crossing was stopped overnight for a random breath test in the nearby town of Boonah, south-west of Brisbane, and allegedly blew .303 per cent.

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High Scores
P-plate driver returned blood alcohol reading of 0.265

06 Dec 2008 8:18 AM

SYDNEY, Dec 6 AAP - A P-plate driver has returned a blood alcohol reading of 0.265 after allegedly flagging down a police car in northern NSW.

Police said a 26-year-old woman had her licence confiscated after she returned a high-range PCA reading near Tamworth about 8pm (AEDT) on Friday.

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Porsche vs Bikes
Porsche and motorcycles in 224km/h road race

20 Dec 2008 4:24 PM

SYDNEY, Dec 20 AAP - The drivers of a Porsche and two motorcycles have had their vehicles confiscated after reaching speeds of more than 220km/h in an alleged road race.

Police say the three men were racing along a 100km/h zone of the Pacific Highway on the far north NSW coast on Saturday about 10.40am (AEST).

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Turbo Rice vs RX7
Two drivers to stand trial over passenger death

15 Dec 2008 5:38 PM

MELBOURNE, Dec 15 AAP - Two young men accused of drag racing before a crash that killed a 15-year-old boy will stand trial.

Mitchell Cairnduff, of Wheelers Hill, died when a turbo-charged Mitsubishi Lancer driven by Jarrod Rooke hit a taxi at 120km/h, the Melbourne Magistrates Court heard.

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High Scores Oldest Hoon
I'm a skilled driver, says 78yo hoon

By Michelle Draper 06 Jan 2009 5:31 PM

MELBOURNE, Jan 6 AAP - A 78-year-old hoon caught speeding at 170km/h on a narrow country road on New Year's Day told police he was a skilled race driver.

Victorian Premier John Brumby, however, was not impressed with John Belfield's claims, labelling Australia's oldest hoon driver an "idiot", while police said he was toying with death.i

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Feature Story More grim economic news as political battle heats up

CANBERRA, Feb 2 AAP - The suspicion that Australia's economic outlook is far worse than publicly acknowledged became a reality with a sickening thud on Monday.

Back in November, the Mid-Year-Economic and Fiscal Outlook revealed a $40 billion hole in government revenue over the next four years but the surplus was still intact as a straitened $5.4 billion.
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Feature Story Southeast under strain as heatwave takes its toll

MELBOURNE, Jan 30 AAP - As far as heatwaves go, the sweltering conditions in south-eastern Australia this week are remarkable.

Tens of thousands of people were left without power, train tracks buckled and the Australian Open tennis tournament came under attack for putting players at risk.
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Feature Story Another big rate cut on the way as inflation pressures ease

CANBERRA, Jan 28 AAP - Rapidly moderating inflation pressures have opened the gate for another substantial interest rate cut when the Reserve Bank of Australia holds its first board meeting of the year next Tuesday.

Financial markets are pricing in the risk of a further 100 basis point cut in the central bank's official cash rate as consumer prices posted their biggest quarterly drop in more than a decade.
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Feature Story Fires contained but extreme weather looms

MELBOURNE, Jan 23 AAP - A cool change has helped firefighters contain fires that had been burning out of control in central and eastern Victoria.

But the entire state faces the most severe fire threat of the summer over the next few days due to a combination of scorching temperatures and high winds.
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Feature Story Get ready for sharpest economic deceleration ever seen

CANBERRA, Jan 19 AAP - A leading economic forecaster has warned its clients to batten down the hatches for the sharpest deceleration Australia's economy has ever experienced.

But Australia is in a better position than almost any other rich nation heading into recession, Access Economics says.
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Feature Story Aussie author jailed for three years for Thai royal insult

MELBOURNE, Jan 19 AAP/AP/AFP - An Australian writer who says he's endured "unspeakable suffering" in a Thai prison has been jailed for three years after pleading guilty to criminal charges of insulting the country's royal family.

But the family of Harry Nicolaides and his Australian lawyer hope a direct appeal for a pardon from the royal family may get the Melbourne-born author home.
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Feature Story Israeli halts Gaza offensive

GAZA CITY, Jan 18 AFP - Israel held its fire in Gaza on Sunday after declaring a unilateral ceasefire in its 22-day onslaught which has killed more than 1,200 Palestinians and levelled vast swathes of the Hamas-run enclave.

Prime Minister Ehud Olmert had said after a meeting of his security cabinet he was calling an immediate end to offensive operations but added that troops would stay in Gaza for the time being with orders to return fire if attacked.
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Feature Story Howard beams as Bush anoints "man of steel"

CANBERRA, Jan 14 AAP - Former prime minister John Howard beamed as outgoing US president George Bush hung the US Medal of Freedom around his neck at a White House ceremony on Wednesday (AEDT).

Mr Bush invoked his famous moniker for Mr Howard - "the Man of Steel" - as he described their friendship and his admiration for the Australian leader's courage in supporting the war on terrorism.
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Feature Story Govt says all options on the table for further stimulus

CANBERRA, Jan 13 AAP - The impact of the slowing world economy will be felt in Australia's jobs market, with the latest figures due out on Thursday, Treasurer Wayne Swan says.

Mr Swan refused to rule in or out the need for a further economic stimulus package or to bring forward $4.5 billion in tax cuts due in July 2010.
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Feature Story Aust labour market outshines US but maybe not for long

SYDNEY, Jan 12 AAP - If Australians want to gloat over how much healthier their labour market is compared with that of the US, they should get their gloating in before it's too late.

The contrast between the labour markets of the US and Australia is stark but may become less so in coming months.
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Feature Story UN suspends aid deliveries to Gaza, citing attacks

GAZA CITY, Jan 8 Agencies - The United Nations halted aid deliveries to the besieged Gaza Strip on Thursday, citing Israeli attacks on its staff and installations hours after it said gunfire from an Israeli tank killed one of its drivers as he was picking up a shipment.

The United Nations has already demanded an investigation into Israel's shelling of a UN school in Gaza that killed 43 people earlier this week. Israel and residents said militants were operating in the area at the time.
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Feature Story Wanking drug runner sentenced to prison

DARWIN, Jan 7 AAP - A drug-runner who filmed himself masturbating while driving at 150 km/h has been sentenced to two months jail.

Brendon Alan Erhardt, 39, was pulled over by police on July 16 last year, 25km south of Daly Waters.
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Feature Story Fierce Israel-Hamas firefights in Gaza capital

GAZA CITY, Jan 6 AFP - Israeli troops and Hamas militants fought their first major battles in Gaza City on Monday after tanks and helicopters launched a night-time offensive, with three Israelis killed by "friendly" fire.

Explosions and heavy machine-gun fire rocked the Shejaiya district of the city in the heaviest fighting yet of Israel's campaign to halt militant rocket attacks.
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Feature Story Israeli army moves on Gaza City as war toll passes 510

GAZA CITY, Jan 5 AFP - Tens of thousands of Israeli troops have been battling Hamas fighters in Gaza amid tank, artillery and air strikes, as the death toll from the offensive to end rocket attacks passed 510.

Israeli forces moved into the fringes of Gaza City early on Monday as families fled or hid on the second night of combat.
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All House Harris News Articles are individually selected by The Editor
Todays Main Feature Story
Govt unveils $42 billion buffer against world recession

By Kate Hannon, National Political Editor 03 Feb 2009 12:54 PM

CANBERRA, Feb 3 AAP - The federal government has unveiled a massive $42 billion nation building and employment plan aimed at retaining 90,000 jobs over the next two years and insulating Australia against the worst of the global economic recession.

Billed as a "rapid response" to the deteriorating global economic conditions, the centrepiece of the 72-page plan is $28.8 billion of spending on schools, housing, energy efficiency in homes, community infrastructure and roads, and support to small business to be delivered mostly in 2009-10 and 2010-11.

The remaining third of the plan is an immediate injection of $12.7 billion in one-off bonus payments of $950 each for low- and middle-income households and individuals through five bonuses to be paid in the next few weeks through either the Australian Tax Office or Centrelink.

It means 8.7 million workers earning $100,000 or less will receive a lump sum payment of $950 each from April.

About 1.5 million single-income families will also receive the payment, provided they receive Family Tax Benefit Part B, in the fortnight beginning March 11.

Continued .....

Regularly Updated News As It Arrives From The Editor
House Harris News

MID: Gaza violence simmers as Egypt holds truce talks
GAZA CITY, Feb 3 AFP - Violence simmered around Gaza on Tuesday as Palestinian militants fired a rocket into Israel a day after a deadly air raid, while talks on a long-term truce in the Hamas-run enclave dragged on in Egypt.
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MID: Iran puts first home-built satellite into orbit
TEHRAN, Feb 3 AFP - Iran has launched its first home-built satellite into orbit using a homegrown rocket, a move certain to set alarm bells ringing in the international community.
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Qld: More rain for flooded north Queensland
Flood-ravaged north Queensland is set to face further disaster with the weather bureau predicting heavy rain for the rest of the week .. and a possible cyclone.
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NSW: Woman accused of smothering father, cling wrapping him
SYDNEY, Feb 3 AAP - A woman seemed "possessed" as she held a pillow over her father's face after restraining him to his bed with cling wrap, her daughter has told a Sydney jury.
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FED: Mortgage rates echo days of pounds, shillings and pence
SYDNEY, Feb 3 AAP - The last time interest rates were this low, Australians paid their mortgages in pounds, shillings and pence.
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Aust dollar closes higher after RBA cuts rates
SYDNEY, Feb 3 AAP - The Australian dollar has closed higher after the Reserve Bank of Australia (RBA) announced another large cut to official interest rates.
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FED: Church welfare groups back stimulus package
The church welfare sector has given the thumbs up to the federal government's 42 billion dollar economic stimulus package .. saying it's well targeted.
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Big cut as expected but no clear hints on outlook
SYDNEY, Feb 3 AAP - The Reserve Bank of Australia's (RBA) decision to lop a full percentage point off its policy interest rate was well anticipated, but there were no clear pointers for the outlook from here.
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NSW: Graffiti artist gets two-year good behaviour bond
A graphic design student caught doing graffiti on a Sydney wall has been wished luck in his art career by a magistrate .. so long as his work is exhibited in galleries and not on public property.
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Rate cut signals good time to enter house market: Lenders
SYDNEY, Feb 3 AAP - Conditions have rarely been better for first home buyers but caution must be exercised before taking on debt, the Mortgage and Finance Association of Australia (MFAA) says.
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Westpac cuts variable mortgage rate by 100 basis points
SYDNEY, Feb 3 AAP - Westpac Banking Corporation, Australia's second biggest home-loan lender, will cut its standard variable mortgage rate by 100 basis points to 5.91 per cent, passing on the full central bank rate reduction.
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Vic: Firefighters race to quell fires ahead of hot change
MELBOURNE, Feb 3 AAP - More than 500 firefighters are racing against the clock to contain a cluster of bushfires in remote parts of Victoria before weather conditions worsen later in the week.
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RBA cuts by 100 basis points again with more to come, economists
SYDNEY, Feb 3 AAP - The Reserve Bank of Australia (RBA) delivered another massive 100 basis point cut to official interest rates on Tuesday and economists expect more of the same in the coming months.
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Latest cut delivers greater flexibility, says lender
SYDNEY, Feb 3 AAP - Resi Mortgage Corporation says the latest rate cut by the Reserve Bank of Australia (RBA) will deliver greater options to borrowers.
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FED: Govt unveils $42 billion buffer against world recession
CANBERRA, Feb 3 AAP - The federal government has unveiled a massive $42 billion nation building and employment plan aimed at retaining 90,000 jobs over the next two years and insulating Australia against the worst of the global economic recession.
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Millions to go toward roads and rail
CANBERRA, Feb 3 AAP - The federal government is moving quickly to spend part of its $42 billion stimulus package on small road and rail projects.
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Fed: RBA cuts key rate by another 100 basis points
CANBERRA, Feb 3 AAP - The Reserve Bank of Australia (RBA) has slashed its official cash rate by a further 100 basis points following Tuesday's board meeting.
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Qld: Man kills teenager during birthday brawl, court hears
BRISBANE, Feb 3 AAP - A man fatally stabbed a teenager during a brawl at a birthday party, a court has been told.
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FED: Rudd justified in slamming neo-liberalism: Keating
CANBERRA, Feb 3 AAP - Prime Minister Kevin Rudd is only partly right when he says the great neo-liberal experiment of the past 30 years has failed, his Labor predecessor Paul Keating says.
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NSW: Insulation plan to stave of recession: reports
SYDNEY, Feb 3 AAP - More than two million homes will qualify for free ceiling insulation in a federal government plan to stimulate the economy by creating green jobs.
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MID: Israeli Gaza raid kills one as Hamas eyes truce
GAZA CITY, Feb 2 AFP - Israel has carried out a deadly air raid in Gaza after warning of a harsh response to renewed fire from the enclave, where the Hamas rulers spoke out in favour of a conditional one-year truce.
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Fed: More grim economic news as political battle heats up
CANBERRA, Feb 2 AAP - The suspicion that Australia's economic outlook is far worse than publicly acknowledged became a reality with a sickening thud on Monday.
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Qld:Rivers in north Qld expected to peak on Tuesday
Rivers in north Queensland are expected to peak tomorrow as rain from ex-tropical Ellie begins to ease.
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NSW: Teenager with no record jailed for graffiti
SYDNEY, Feb 2 AAP - An 18-year-old woman with no criminal record has been jailed for three months for writing one word of graffiti on the wall of an inner-Sydney cafe.
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House prices have biggest annual fall in 23 years
SYDNEY, Feb 2 AAP - Australian house prices in 2008 posted their biggest annual fall in 23 years and there maybe more falls to come, economists say.
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NSW: ATM explosion damages bank
SYDNEY, Feb 2 AAP - The latest attack on an automatic teller machine (ATM) caused extensive damage to a bank on the NSW south coast, but investigators are yet to determine whether any money was stolen.
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Qld: More flooding expected as heavy rains drench Nth Qld
BRISBANE, Feb 2 AAP - Authorities are warning of more heavy downpours and flooding in north Queensland and are poised to evacuate residents from some communities in the Gulf of Carpentaria.
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NSW: Police searching for four suspects after fatal stabbings
SYDNEY, Feb 2 AAP - Police are searching for four suspects after two men were stabbed to death at Bankstown in Sydney's southwest.
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Qld: More flooding expected as heavy rains drench Nth Qld
BRISBANE, Feb 2 AAP - Authorities are warning of more heavy downpours and flooding in north Queensland and are poised to evacuate residents from some communities in the Gulf of Carpentaria.
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MID: Israel bombs Gaza after new rocket fire
GAZA CITY, Feb 1 AFP - Israeli aircraft bombed Gaza on Sunday hours after its leaders vowed to deal a blow to Hamas in response to new rocket fire two weeks following the end of a bloody war in the Palestinian enclave.
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Aust house price index fell 0.8 pct in Dec quarter
SYDNEY, Feb 2 AAP - The Australian house price index fell 0.8 per cent in the December quarter, the Australian Bureau of Statistics said on Monday.
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NSW: Drinkers callously stabbed to death as they left bar
SYDNEY, Feb 2 AAP - Two men had been drinking for several hours at a suburban Sydney bar before they were callously attacked and stabbed to death, police say.
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Fed: Shoppers exceed retailer's expectations in post-Xmas sales.
SYDNEY, Feb 2 AAP - Shoppers exceeded retailers' expectations during post Christmas sales, spending $6.5 billion across Australian stores from Boxing Day through to late January.
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MID: Israel vows to strike Hamas after Gaza rocket fire
JERUSALEM, Feb 1 AFP - Israel has vowed to strike back at Hamas following renewed rocket fire from the Islamists' Gaza stronghold two weeks after the end of a bloody war in the battered Palestinian territory.
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NSW: Two men die of stab wounds after fight outside bar
SYDNEY, Feb 2 AAP - Two men have died from stab wounds after a fight involving up to eight people outside a bar in Sydney's south-west.
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MID: Israel vows to strike Hamas after Gaza rocket fire
JERUSALEM, Feb 1 AFP - Israel has vowed to strike back at Hamas in the wake of renewed rocket fire from the Islamists' Gaza stronghold two weeks after the end of a bloody war in the battered Palestinian territory.
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