BP's Chairman says his company is still strong despite the crisis in the Gulf of Mexico. Rating Agency Moody has downgraded BP's credit rating by three notches, following similar moves by the other two rating agencies earlier this week. Banking sourc...
US Congress has accused BP of paying no attention to the tremendous risks of drilling in the Gulf of Mexico. At a congressional hearing into Americas worst oil spill, BP chief executive Tony Hayward was accused of cutting corners to save money. In Eu...
BP will create a Twenty-billion-dollar compensation fund to pay damages claims arising from the worst oil spill in US history. The oil giant agreed to the demand at a White House meeting between US President Barack Obama and company executives. After...
A report into Northern Ireland's Bloody Sunday massacre has found the killing of 13 Catholic protesters by British soldiers was unjustified. British Prime Minister David Cameron has apologized for the deaths as he handed down the findings. It found t...
Former Soviet states including Russia say they will help stop ethnic violence in Kyrgyzstan which has left more than 100 dead. The Collective Security Treaty Organization met for emergency talks in Moscow, but it's not released details on whether mil...
More than 470 people have been named in this year's Queen's Birthday Honors List. The highest honour on the list, the Companion of the Order of Australia, has been awarded to five people, including former Victorian Premier Steve Bracks. Australian gu...
Hello, Nick Dole with the National Weather. Lets take a look at the satellite picture first. And patchy low cloud across the southeast trapped under a high is bringing the odd shower to South Australia, Victoria and Tasmania. A ridge of high pressure...
Positive economic news from around the world has driven global markets higher with Wall Street adding 3 percent. China has reported the largest rise in exports in six years. Japan's annualized growth has come in at 5 percent. And the markets have res...
Oil giant BP has suffered another difficult day with shares plunging almost 7 percent on the London markets. The drop wiped out more than eight million dollars of value with the company. Prime Minister Kevin Rudd will today try to sell his proposed s...
The UN Security Council has imposed new sanctions on Iran because of its nuclear program. The council voted in favor of a fourth round sanctions, including tighter finance curbs and an expanded arms embargo. Iranian President Mahmoud Ahmadinejad was...
A service will be held in an airbase in the United Arab Emirates today for two Australian soldiers killed in Afghanistan. The Brisbane-based combat engineers, 26-year-old Sapper Darren Smith and 21-year-old Sapper Jacob Moerland were killed by a road...
More than 80 asylum seekers have spent their first night at a mining camp in the remote Western Australian town of Leonora. The families from Afghanistan, Sri Lanka and Iran were flown to the town yesterday from the overcrowd detention centre at Chri...
A poll shows that the Rudd Government would lose in an election if it was held today. The Nelson poll conducted for Fairfax, shows the Coalition leads Labor on a two-party preferred basis by 53% to 47%. That's an increase of three percentage points f...
Cloud along the New South Wales coastline will cause showers offshore. Therell also be a cold front and some rain in the states southeast. In Western Australia, clouds blanketing much of the south bringing with it rain. And taking a look at the state...
A positive turn in the US jobs market has failed to lift hopes of an economic recovery with 431,000 new jobs recorded in May. The unemployment rate dropped from 9.7 percent to 9.9 percent last month on the back of public sector hiring for an upcoming...
