Baby bonus to be cut

In a drastic move, the Federal government has announced plans to cut the 'baby bonus', the $3000 once-off payment to help parents with a new baby. One upside though is that less money may help improve Australia's childhood obesity epidemic.

Obama makes history

In his victory speech, Barack Obama echoed the hopes of a nation. "I want to join with all those people who are looking for change. We need change. About $700 billion worth of change to fix the economy."