Wednesday's news in under 5 minutes.

We’ve rounded up all the latest news from Australia and around the world – so you don’t have to go searching.

1. Man questioned in William Tyrrell case serving suspended jail sentence for possession of child abuse material.

A man who has previously been questioned over the William Tyrrell case is serving a suspended jail sentence for the possession of child abuse material.

News Limited reports that Derek Nichols, who has historic child abuse charges, previously lived a short walk from where William vanished from his grandmother’s home in Kendall.

Nichols was sentenced to 18 months prison on October 21 for possession of the material.

Nichols, an accomplished pianist and organ player, has previously denied any involvement in the disappearance of William or that he knew another person of interest, Bill Spedding.

Nichols has said on the day William went missing he was living in Dunbogan.

The Daily Telegraph reports that Bill Spedding, a separate person of interest, said he was in Dunbogan a short time after William Tyrell went missing.

Anyone with information is urged to contact CrimeStoppers on 1800 333 000.

2. Police officer and guard shot in Sydney hospital.

Western Sydney’s Nepean Hospital was forced into lockdown last night after a police officer and security guard were shot.

Around 10.40pm a man allegedly held scissors to a female doctor’s throat.  When a police officer went to assist a scuffle broke out during which the gunman allegedly shot the officer and a security guard.

A witness told News Limited “A guy was screaming and shouting and holding a knife to a woman’s throat, we couldn’t make out what he was saying,” the man said.

“Security came running and started evacuating the area. A police officer came running in, he was overalls, and tried to calm the situation down.

“Nurses were trying to get everyone back in the room.”

According to police, the officer suffered a gunshot wound to the upper leg, while the security guard was hit in the calf.

A 39-year-old man has been arrested and is currently assisting police with inquiries.

3. James Hird labels Essendon decision a “miscarriage of justice.”

James Hird has said the decision to suspend 34 Essendon players is a “miscarriage of justice’’.

Hird told The Herald Sun: “I am shocked by this decision.I firmly believe the players do not deserve this finding.

“They do not deserve to face a twelve -month suspension from the sport.

“This is a miscarriage of justice for 34 young men.’’

Yesterday the Court of Arbitration for Sport (CAS) informed all parties it had upheld the World Anti-Doping Agency (WADA) appeal in the long-running case.

Meanwhile sports lawyers have said the banned players could sue the club for millions.

AFL Players Association chief Paul Marsh told The Herald Sun legal action against the club was “very high.

“You can take this down a long winded legal path or you can look to settle this with the club,” Marsh said.

“We’ve had those discussions with the club, with the AFL, that’s the direction we’d like to start in and then let’s see where it goes.”

4. PM to move into the Lodge soon.

It’s all action in Canberra with removalist vans delivering Malcolm Turnbull’s belongings spotted outside the lodge in Canberra.

One proud company tweeted their arrival.

Mr Turnbull and his wife Lucy Turnbull will become the first tenants of the newly renovated official Canberra residence – the previous Prime Minister, Tony Abbott never lived in the PM’s residence as it was undergoing renovations.

It is expected he will move in within weeks.

While Mr Turnbull will use the PM’s Canberra residence he has previously said he will not use Sydney Harbour’s Kirribilli House instead using his family’s Point Piper mansion.

5.  Fire bans and extreme heat across the country.

With temperatures set to hit more than 40 degrees in parts of the country there are bushfire fears. Melbourne is expecting a top temp today of 41 degrees.

In Victoria total fire bans are in effect for all of the state’s areas bar the East Gippsland.

Adelaide will have a top temperature of 39C  while some regional centres will push into the mid-40s.

Extreme bushfire conditions have been declared in four districts with conditions in seven others listed as severe.

A total fire ban has also been declared in southern Tasmania with temperatures forecast to soar up to 37C in parts of the state.

6. Bank warns investors to be afraid.

The Royal Bank of Scotland has warned of a “cataclysmic year” ahead for markets and advised clients to head for the exit.

“Sell everything except high quality bonds,” the bank warned in a note this week.

The warning pointed out that the bank’s red flags for 2016 — falling oil, volatility in China, shrinking world trade, rising debt, weak corporate loans and deflation — had all been seen in just the first week of trading.

“We think investors should be afraid,”

The bank’s European rates research team said that clients should be concentrating on return of capital, not return on capital, and that an ominous outlook to the world economy “all looks similar to 2008.”

7. IS suicide bomber kills at least 10 in Istanbul.

At least 10 people have been killed by a suicide bomber in Istanbul.

Turkey’s Prime Minister, Ahmet Davutoglu says the suspected bomber was a foreign member of Islamic State thought to have recently crossed into Turkey from Syria.

The blast happened in the Sultanahmet Square, an area popular with tourists.

At least nine killed are German citizens.

German Chancellor Angela Merkel said the world must act against terrorism.

“International terrorism has shown its ugly face,” said Merkel. “We need to act decisively against it.”

8. Teenage mum admits pouring bleach into baby’s mouth after secret birth.

A 17-year-old girl has admitted pouring bleach into the mouth of her baby just moments after giving birth in the bathroom of her family home.

The teenager, from West London in the UK,  had kept her pregnancy secret from family and friends and shortly after giving birth she poured domestic bleach into the mouth of her minutes old baby.

The girl told an expert witness that she was in a state of shock and panic following the birth of the baby.

Shortly after she poured the bleach in the baby’s mouth the girl’s aunt came into the bathroom and interrupted the teenager.

The medical expert told the court,  “the defendant does not know what she would have done if her aunt had not come in.”

A second specialist, Dr Alison Wenzerul, found the defendant was in a state of acute distress and was “unlikely to have been in a state of mind to clearly consider what she was doing to the baby”.

The baby boy was badly scalded in the mouth and lips but survived following hospital treatment reports London 24.

The girl was charged with attempted murder but at a hearing the prosecution accepted a guilty plea to a second lesser charge of child cruelty.

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