DOMESTIC
Victorian Bushfires: Grief has turned to anger as much of the focus of bushfire coverage this week was on the accused arsonist Brendan Sokaluk, who is accused of lighting the Churchill fire in which 11 people died. Thousands of people posted messages of hate and threats on the internet towards Sokaluk. While the suppression order on Sokaluk's name was lifted on Monday, his image and address remained suppressed. However, images of the accused were readily available on the internet, apparently taken from his Facebook account.
Qld/NSW Floods: Areas of the NSW mid-north coast have joined northern Queensland in being declared natural disaster, with about 370 millimetres of rain falling since last Friday. The council areas of Bellingen, Coffs Harbour, Nambucca, Kempsey, Bourke and Port Macquarie-Hastings have been the hardest hit. While further showers in the affected regions are predicted, the heaviest storms have now abated.
Economic Stimulus Package: Friday the 13th became lucky for the Federal government with Nick Xenophon finally giving the nod to its $42 billion economic stimulus package. The independent Senator gained concessions of more than $900 million for the Murray-Darling, with the agreement bringing forward $500 million over four years from 2008-09 for water buy-backs from farmers. As a result of the concessions, the $950 tax bonuses will now be reduced by $50.
Julie Bishop Treasury Position: Deputy Opposition leader Julie Bishop's decision to step down as Treasury spokesman, a decision she claims was hers alone, has incited further leadership speculation for the party. This followed revelations that Malcolm Turnbull asked Peter Costello to take on the role, only to be knocked back, with the former Treasurer reportedly only interested “in one job”. New Treasury spokesman Joe Hockey has since been tarnished as the ‘second best’ option.
INTERNATIONAL NEWS
Japanese Economy: A major slump in the Japanese economy will hit Australian export earnings next year, Trade Minister Simon Crean has warned. Japan, the biggest customer for Australian exports, is facing its worst economic performance since 1974. The government’s troubles continued after its finance minister resigned after appearing drunk at a recent G7 summit.
Afghanistan Troop Deployment: US decision to send 17,000 troops to Afghanistan will significantly increase pressure on its allies, including Australia, to step up their commitment to the war. While Australia has not committed to additional troops, Defence Minister Joel Fitzgibbon says Australian troops are likely to remain in Afghanistan for years.
US Stimulus package: US President Barack Obama signed a $787 billion economic stimulus bill into law on Tuesday as global markets plunged on fears that the recession would deepen despite government action in many countries. Obama has staked his political reputation on the package, a mixture of tax cuts and spending projects, saying its success will determine his success as president
BUSINESS NEWS
Virgin Blue Staffing: News of up to 400 possible job cuts Virgin Blue is a big loss for the nation, Treasurer Wayne Swan says. Australia's second largest airline has said it will remove eight per cent of capacity, or as many as five aircraft, from its domestic fleet from May in response to a forecast fall in domestic demand
SPORT
A-League Soccer: Melbourne Victory coach Ernie Merrick says he has no preference who his high-flying side meet in the A-League grand final as Adelaide United and Queensland Roar prepare for the match which will decide the remaining spot. Merrick's side destroyed Adelaide United 6-0 on aggregate in the major semi-final.
Cricket: Australia coach Tim Nielsen says his team are under pressure to hold onto their top ranking in Test cricket and it will be "hard work" to beat South Africa on their home turf. Having been upset 2-1 at home by Graeme Smith's Proteas in December and January, Ricky Ponting's 14-man Test squad arrived in South Africa on Monday.
QUOTE OF THE WEEK
"He has declined and said that he has no interest in a role on the frontbench or indeed a leadership role. That's the position he's taken and I respect that," Mr Turnbull said of Peter Costello’s political future.
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