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NewsMail Afternoon Edition
Sat 12 Apr, 2014

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Live: Damage kept to minimum as Cyclone Ita downgraded to category 1

Residents in far north Queensland are surveying the damage from Tropical Cyclone Ita as the storm continues to sweep down the coast.

The cyclone made landfall at Cape Flattery last night as a category four storm but weakened as it travelled inland.

Destructive winds of up to 120 kilometres per hour and torrential rain are lashing the region from Cape Melville to Cape Tribulation, while localised flooding is threatening low-lying areas.

In Cooktown, the West Coast Hotel and at least two houses have had their roofs blown off but other major structural damage appears to have been kept to a minimum.

Up to 8,500 homes in the region are still without power and emergency services had to rescue two adults and three children from a flooded road south of Cooktown.

Follow all the developments on our live blog or read a full wrap.

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The Drum

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Revenue lobbyists should leave the GST alone

Australia should get its excessive spending under control without resorting to the tempting but unwarranted consumption tax grabs we have recently seen in other countries.

Politicians generally do not respect fiscal rules for too long, and a rise in the GST would disproportionately hurt the poor.

That's why the current institutional arrangements for managing the GST should be preserved in the face of recent pressure from revenue lobbyists like Martin Parkinson and Ken Henry.

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Just In

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Hi-tech Sydney playground coaxes digital natives

It's near impossible to tear this generation of children away from their smartphones and videogames but a hi-tech playground in the centre of the Western Sydney Parklands is coaxing them into the great outdoors.

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World

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Chinese investment rules for farmland won't change: Robb

Trade Minister Andrew Robb has assured his Coalition colleagues there will be no changes to foreign investment rules on farmland as part of a trade deal with China.

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Business

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Coke shares drop as market loses its fizz

Australian stocks have retreated from yesterday's near six-year high, posting losses across the board.

The All Ordinaries Index dropped 1 per cent to close at 5,424 and the ASX 200 lost 52 points to 5,429.

The sell-off was not as bad as feared after a much bigger slump on Wall Street, where investors sold down internet and social media stocks.

Coca-Cola Amatil suffered its biggest drop in 23 years to close 14.5 per cent lower at $9.74 after cutting its profit forecasts.

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Politics

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Tony Abbott meets Chinese president Xi Jinping

Prime Minister Tony Abbott has met with Chinese president Xi Jinping in Beijing on the penultimate day of his tour of North Asia.

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Sport

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Live: Blues v Demons, Port v Lions, Giants v Bulldogs, Suns v Hawks, Cats v Eagles

Follow all the AFL action as we host five big games across Saturday, finishing with the Cats v Eagles at Geelong.

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Science and Technology

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NSA, White House denies using Heartbleed bug to spy

US intelligence agencies have denied a report that they exploited the Heartbleed bug in internet encryption to gather intelligence, saying they were not aware of the vulnerability before it was publicly exposed.

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Environment

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US denies visa to Iran's UN envoy

Concerns talks over Iran's nuclear program may be disrupted after the US refuses to grant a visa to the Iranian official nominated by Tehran to be its next ambassador to the United Nations.

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