Wednesday's news

07 Aug 2013

Interest rates dropped to an all-time low by the RBA with the rate currently sitting at 2.5 per cent. In election news, Tony Abbott is expected to promise to cut the corporate tax rate by 1.5 per cent.

Abbott makes first big election promise

Opposition Leader Tony Abbott is today expected to promise to reduce the company tax rate by 1.5 per cent in a bid to encourage businesses. The $5 billion plan will see the corporate tax rate fall to 28.5 per cent in July 2015. To read more about the ongoing election campaign, see Seven News.

Interest rates at record low

The Reserve Bank of Australia cut interest rates to an all-time low yesterday after financial markets widely tipped the move. The official cash rate is now at 2.5 per cent, down by 25 basis points. Read more.

Extreme weather now the norm

Scientists in the US say that extreme weather events are now considered the new norm with a report claiming disastrous weather like hurricanes, droughts and floods will become more frequent. The report states that a warming planet is to blame. Read more.

Army shooter on trial

A US army psychiatrist is facing trial, admitting to opening fire on US soldiers at Fort Hood. Major Nidal Hasan faces the death penalty if convicted of murdering 13 people and wounding 32 others in the deadliest shooting at an American military base. ABC News has the full story.

Attacked by a shark and then some

Erik Norrie, currently recovering in hospital after being attacked by a shark, is possibly the unluckiest man alive. Norrie has been struck by lightning, bitten by a snake and punched in the face by monkeys. Read Erik’s incredible story on News.com.au.