This is The Loop: your quick catch-up on this morning's news, as it happened.
Key events
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Live updates
By Tom Williams
Stay in The Loop
That's all for The Loop this morning — thanks for being with us!
We'll be back tomorrow, but in the meantime, you can stay up to date on the ABC News website and by subscribing to our mobile alerts.
If you're just joining us, here's what you need to know:
- The RBA is expected to increase the cash rate again at 2:30pm AEDT today, which means interest rates will continue to rise
- Former US president Donald Trump is suing American cable news channel CNN, claiming it defamed him
-
Kim Kardashian will pay a $US1.26 million ($1.9 million) fine for not making clear she was promoting a cryptocurrency on Instagram
- Swedish scientist Svante Paabo has won a Nobel Prize in medicine for discoveries in human evolution that unlocked secrets of Neanderthal DNA
- A new report has found the Australian government cut education spending during the early stages of the coronavirus pandemic, as most of the OECD did the opposite
By Tom Williams
Midnight Oil fans bask in the band's final concert
Aussie rockers Midnight Oil closed out their reunion tour at Sydney's Hordern Pavilion last night, and fans have been reminiscing all morning.
Prime Minister Anthony Albanese was at the gig — as was ABC News Breakfast host Michael Rowland, who wrote on Instagram:
"Thank you dearly to the band for providing the soundtrack of my life.
"And thank you for helping instil a social conscience in the spotty Sydney teenager who sweated through your gigs in the early 80’s! This is something I will remember."
According to a set list posted online, Midnight Oil played around 40 songs from throughout their career.
You can see some images from the show (and the set list) below.
By Tom Williams
US to impose 'further costs' on Iranian officials over violence against protesters
US President Joe Biden says his country will this week impose "further costs" on Iranian officials responsible for violence against demonstrators who protested against Iran's government after the death of Mahsa Amini.
Amini, a 22-year-old from Iranian Kurdistan, was arrested by morality police in Tehran on September 13 for "unsuitable attire".
She died three days later in hospital after falling into a coma.
Iran's supreme leader has blamed the US and Israel for the protests which have followed Amini's death.
The unrest has lead to widespread demonstrations, leaving at least 130 people dead so far.
Ayatollah Ali Khamenei has ordered security forces to continue cracking down on the civil disobedience.
By Tom Williams
Wall Street sees strongest rally in months
Stocks on Wall Street have rallied to their best day in months after falling bond yields eased some of the pressure that’s been battering US markets.
The S&P 500's leap of 2.6 per cent is its biggest since July.
The Dow Jones Industrial Average is also up 2.6 per cent, and the tech-heavy Nasdaq is 2.2 per cent higher.
The local sharemarket is also expected to open higher when it opens this morning:
By Jessica Riga
'All of America's with you': Biden visits storm-hit Puerto Rico following Hurricane Fiona
US President Joe Biden has pledged more than $US60 million ($92 million) in aid to help Puerto Rico, and has said more money is coming, while surveying damage from Hurricane Fiona.
Biden also alluded to the controversy surrounding Donald Trump's response to Hurricane Maria when it ravaged Puerto Rico in 2017, killing thousands.
Trump objected to sending more money to Puerto Rico after the hurricane and froze billions intended for the island, a move Biden has reversed.
"Yes, Puerto Rico is a strong place and Puerto Ricans are a strong people, but even so you have had to bear so much, more than need be, and you haven't gotten help in a timely way," Biden said.
By Tom Williams
Ukraine's president hits back at Elon Musk on Twitter
Ukrainian President Volodymyr Zelenskyy has hit back at Tesla CEO Elon Musk, after the world's richest man asked Twitter users to weigh in on a plan to end Russia's war in Ukraine.
Musk proposed UN-supervised elections in four occupied regions which Moscow moved to annex last week after what it claimed were referendums.
The votes were denounced by Kyiv and Western governments as illegal and coercive.
Musk polled his followers with his potential solutions:
Zelenskyy then responded with his own poll.
"Which @elonmusk do you like more?," he tweeted, offering two responses: one who supports Ukraine, one who supports Russia.
Lithuania's president also responded by saying that when someone tries to steal the wheels of a Tesla, it doesn't make them the legal owner of the car, or of the wheels.
By Tom Williams
BREAKING: Donald Trump sues CNN, claiming defamation
Former US president Donald Trump is suing American cable news channel CNN, claiming it defamed him.
He is seeking $US475 million ($729 million) in punitive damages, according to a federal court filing in Florida.
Mr Trump claims the network carried out a "campaign of libel and slander" against him, and used its influence to defeat him politically.
Mr Trump claims in the lawsuit that CNN used defamatory labels against him such as "racist", "Russian lackey", "insurrectionist" and "Hitler".
CNN has so far declined to comment on the case.
The lawsuit comes as the former president faces a criminal investigation by the US Justice Department for retaining government records at his Mar-a-Lago estate in Florida after leaving office in January 2021.
By Jessica Riga
King Charles has marked his first official public engagement since the Queen's mourning period ended
King Charles III has given a short speech in Scotland, marking his first official public engagement since the royal mourning period ended.
The royal family have observed nearly a full month of mourning since Charles's mother, Queen Elizabeth II, died.
Charles and the Queen consort, Camilla, took part in a ceremony formally giving city status to the Scottish municipality, Dunfermline.
Dunfermline was among eight towns that won city status as part of Platinum Jubilee celebrations earlier this year to mark the Queen's 70 years on the throne.
"There could be no more fitting way to mark my beloved mother's extraordinary life of service than by granting this honor to a place made famous by its own long and distinguished history, and by the indispensable role it has played in the life of our country," the King said in a speech.
"We gather to celebrate this great occasion but also to commemorate the life of Her late Majesty, whose deep love for Scotland was one of the foundations of her life," he added.
By Tom Williams
Twitter is finally rolling out its edit button
After some testing, Twitter's long-awaited (and somewhat controversial) edit button is now rolling out to paying subscribers of Twitter Blue in Australia, Canada and New Zealand.
It's unclear when it will be available to regular non-paying users of the social media network.
By Jessica Riga
Ringo Starr postpones tour as he recovers from COVID
Ringo Starr has been forced to postpone five concerts in Canada after he tested positive to COVID-19.
The 82-year-old former Beatle was meant to perform with his All Starr Band — which included the frontmen of bands like Toto and Men at Work — over the next week.
In a statement, Starr says he's currently recovering from the virus at home, and hopes to resume touring as soon as possible.
By Tom Williams
One thing to know: The RBA is expected to increase the cash rate again today
The Reserve Bank of Australia is expected to increase the cash rate again today, which means interest rates will continue to rise.
Most economists and traders are predicting the bank will announce a half-a-percentage-point rate rise at 2:30pm AEDT today.
For the average mortgage borrower it could mean a cumulative $760 a month hit to their budget, including other recent rate rises.
Since April this year the official cash rate target has risen every month, from 0.10 to 2.35 per cent.
The last time rates rose this fast was in 1994 — and you can read about that situation at the link below.
By Tom Williams
News while you snoozed
- The British government has dropped plans to cut income tax for top earners, which was part of a package of unfunded cuts that sparked turmoil on financial markets and sent the pound to record lows. In a dramatic reversal, Chancellor Kwasi Kwarteng said he will not scrap the top 45 per cent rate of income tax paid on earnings above 150,000 pounds ($261,000) a year
- A new report has found Australian governments cut education spending during the early stages of the coronavirus pandemic, as most of the OECD did the opposite. The latest OECD Education at a Glance report shows Australian public education expenditure was cut by nearly 2 per cent from 2019 to 2020, by comparison the OECD average rose by around 1.5 per cent
By Tom Williams
Here's what Australia is searching for online
- Nobel Prize. Swedish scientist Svante Paabo has won a Nobel Prize in medicine for discoveries in human evolution that unlocked secrets of Neanderthal DNA. His worked helped us understand what makes humans unique and provided key insights into our immune system, including our vulnerability to severe COVID-19
- Adelaide 36ers. The basketball club have become the first NBL team to beat an NBA team in a preseason game, after shocking the Phoenix Suns with a 134-124 win in the United States. It was the first visit to the US for an NBL team since the 2019 preseason, and Adelaide have been celebrating ever since
By Tom Williams
One more thing: Kim Kardashian has been fined almost $2 million
It's a drop in the bucket, but influencer and businesswoman Kim Kardashian will pay a $US1.26 million ($1.9 million) fine after settling federal charges for flouting cryptocurrency rules.
She made $US250,000 for an Instagram post about a cryptocurrency which was sent to her 330 million followers, but she didn't make clear that she was being paid for the promotion.
She will also be barred from promoting cryptocurrencies for three years.
