ABC NewsMail - Afternoon Edition

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NewsMail Afternoon Edition
Mon 03 Nov, 2014

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'IS supporters' shot man outside Greenacre Islamic centre

A man who was shot outside an Islamic Centre in the south-western Sydney suburb of Greenacre was the victim of an attack by local Islamic State supporters, according to a witness.

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The Drum

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The Direct Action assault on free market thinking

The first thing any student of basic economics learns is that a free market is the most efficient method to allocate resources. And this is where Direct Action gets it all wrong.

In shifting from a carbon price to a subsidy mechanism, the decisions on who will take action and what action will be taken to reduce emissions will now fall to bureaucrats.

From a political and economic perspective, it would have been far better for the Government to move from a tax to a market price for carbon.

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Just In

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FIFO workers leaving depression untreated 'for fear of drug tests'

Mine workers suffering from depression are leaving their condition untreated out of fear of losing their jobs, according to one of Australia's biggest construction unions.

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World

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Six tonnes of explosives cleared from Bougainville WWII battle site

Australian soldiers clear more than six tonnes of unexploded hand grenades and mortars from a World War II battle site on an island east of Papua New Guinea.

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Business

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Westpac profit rises 12 per cent to $7.6b

Westpac has posted a 12 per cent rise in net profit to $7.6 billion, with a more modest increase in dividend.

Westpac's cash earnings were also $7.6 billion, but up a smaller 8 per cent on last year's result.

The bank's return on equity, a key profit measure, was up almost half a percentage point to 16.4 per cent.

Despite the strong rise in profitability, Westpac has elected to lift its dividend by just 5 per cent to $1.82 for the full-year, incorporating a final dividend of 92 cents per share.

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Politics

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ADF members to receive annual pay increase of 1.5pc

Members of the Defence Force are to receive a 1.5 per cent annual pay increase for the next three years.

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Sport

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Virtual race: What makes a Melbourne Cup winner?

Scroll through our virtual race to see how the 2014 Melbourne Cup field stacks up compared to all previous Cup winners.

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Science and Technology

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Virgin 'wasn't up to speed' and warned about safety

A space safety expert says she warned Virgin about safety concerns after the deaths of three engineers in a rocket engine explosion in 2007.

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Environment

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Greenhouse gas at highest levels in 800,000 years, UN says

The world's top scientists give their clearest warning yet of the severe and irreversible impacts of climate change. In a report, the United Nations climate change panel warns greenhouse gas levels are at their highest in 800,000 years.

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