ABC NewsMail - Morning Edition

NewsMail Morning Edition Tue 04 Nov, 2014 Top Stories More Top Stories » Admire Rakti heads Cup betting, Cavalryman scratched by Paul Newman Admire Rakti remains favourite for today's Melbourne Cup in one of the oldest fields ever assembled. More » Branson hits out at 'damaging innuendo' following space crash New laws would not see reporters jailed over Snowden leaks, Brandis indicates Nationals want Cabinet approval for longer, cheaper drought loans Military personnel vent frustration at ADF pay offer Conservationists call for the closure of dirty power stations amid UN warnings Final missing Costa Concordia victim 'found' on wreck Asylum seekers allegedly tortured, threatened with rape in secret compound Terminally ill woman takes her own life after viral video promise Daredevil completes high-wire walks between Chicago skyscrapers More Analysis » 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. More » Melbourne Cup: the race that stops a media cycle Virgin Galactic: when daredevilry goes wrong Abbott seeks to share the GST blame Jihadists are not the new Orwells Are we creating the 'clash of civilisations'? A 'lottery' electoral system could break our malaise Did Led Zeppelin borrow its Spirit? Walking as a woman: when 'compliments' are threats Selfish politics means a rocky road to reform Just In More Just In » Man out of coma after police shooting on Brisbane's south A man who was shot in the head last month by police at Rochedale in Brisbane's south comes out of a coma. More » FIFA moves closer to winter World Cup in Qatar Murray avoids Djokovic at World Tour Finals groups Military personnel vent frustration at ADF pay offer Wanderers' Covic ready to chase more silverware New York's World Trade Centre reopens 13 years on Islamic State massacre Albu Nimr tribe members in Iraq Ban Ki-moon confuses Austria for Australia Admire Rakti heads Cup betting, Cavalryman scratched Woman found with critical injuries after 'assault' World More World » FIFA moves closer to winter World Cup in Qatar FIFA raises objections to holding the 2022 Qatar World Cup in the summer despite calls by top European clubs and leagues. More » New York's World Trade Centre reopens 13 years on Islamic State massacre Albu Nimr tribe members in Iraq Computer sold by Jobs in 1976 to be auctioned Final missing Costa Concordia victim 'found' on wreck Branson hits out at 'damaging innuendo' following space crash Business More Business » Westpac profit rises 12 per cent to $7.6b By business reporter Michael Janda 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. More » Home price surge continues in Sydney, other cities subdued Building approval slump driven by volatile apartment sector Modest job ads improvement suggests unemployment near peak: ANZ Woolworths sales growth held back by petrol slide Miners, economic data drag down local market Politics More Politics » Military personnel vent frustration at ADF pay offer By Louise Yaxley Military personnel and their families say they "feel let down" by a pay offer which represents an effective pay cut, the Defence Force Welfare Association president says. More » New laws would not see reporters jailed over Snowden leaks, Brandis indicates Defence industry 'confused' about submarine project Asylum seekers allegedly tortured, threatened with rape in secret compound ADF members to receive annual pay increase of 1.5pc Sport More Sport » Admire Rakti heads Cup betting, Cavalryman scratched by Paul Newman Admire Rakti remains favourite for today's Melbourne Cup in one of the oldest fields ever assembled. More » Wanderers' Covic ready to chase more silverware Pakistan sweeps series with 356-run demolition of Australia 2022 World Cup likely to be played in winter: FIFA Victory go top after 2-0 win over Phoenix Williams' Cup hopes rest solely on Fawkner Science and Technology More Science and Technology » 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. More » Branson vows to continue quest for space travel despite crash Co-pilot killed in Virgin Galactic spaceship test flight crash PM's science prize winner warns 'best and brightest' will leave Jetpack transport closer with company to list on stock exchange Environment More Environment » Conservationists call for the closure of dirty power stations amid UN warnings By Kerry Brewster Conservationists are calling for the closure of the country's worst-polluting power stations, in light of a new UN report outlining the clearest indication yet of the severe impacts of climate change. More » Greenhouse gas at highest levels in 800,000 years, UN says Emissions Reduction Fund to begin allocating money next year Hunt, Palmer resist criticism of Direct Action deal Sydney's drinking water 'at risk' from mine expansion About this email You received this email because you are subscribed to ABC News email alerts. 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