ABC NewsMail - Afternoon Edition

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NewsMail Afternoon Edition
Wed 03 Oct, 2012

Top Stories

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Police locate vintage plane crash site

Queensland police say the wreckage of a vintage plane has been found on the Sunshine Coast and a search team has confirmed there are no survivors.

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The Drum

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Monetary policy is losing its power

It's now clear that the Chinese comeback that prompted the RBA to raise interest rates six times in 2009 and 2010 was unsustainable.

It was based on a massive increase in investment rather than any lasting increase in demand, either export or domestic, and China has now found that it can't insulate itself from the rest of the world forever.

It may have seemed like a good idea at the time, but the RBA made a mistake increasing rates by 1.75 per cent in 2009-10.

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Just In

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Linfox loses appeal over truckie's Facebook comments

Fair Work Australia has dismissed an appeal by transport company Linfox, which tried to sack an employee for making derogatory comments about two of his managers on Facebook.

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World

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Biden gaffe on eve of presidential debate

Joe Biden tosses raw meat to Republicans a day before the first presidential debate, saying the US middle class has been "buried" during the past four years.

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Business

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Trade deficit blows out above $2bn

Australia's trade deficit has blown out to more than $2 billion, the worst monthly result in more than four years.

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Politics

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Mary Jo Fisher pleads guilty to shoplifting

Former Liberal senator Mary Jo Fisher has pleaded guilty and been given a bond in a shoplifting case.

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Sport

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Graham to contest bite charge

Canterbury prop James Graham will plead not guilty to a biting charge at the NRL judiciary on Thursday night.

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Science and Technology

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Farmers urged to embrace algae crops

Farmers used to growing grain or raising livestock are being urged to consider algae as a farm crop.

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Environment

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Burke pledges to do more for dying reef

The Federal Government has promised to do more to protect the Great Barrier Reef after a report revealed that more than half of it had disappeared in the last 27 years.

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