Commonwealth Bank of Australia CEO apologies for financial planning scandal

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Thursday, July 3, 2014

Ian Narev, the CEO of the Commonwealth Bank of Australia, this morning “unreservedly” apologised to clients who lost money in a scandal involving the bank’s financial planning services arm.

Last week, a Senate enquiry found financial advisers from the Commonwealth Bank had made high-risk investments of clients’ money without the clients’ permission, resulting in hundreds of millions of dollars lost. The Senate enquiry called for a Royal Commission into the bank, and the Australian Securities and Investments Commission (ASIC).

Mr Narev stated the bank’s performance in providing financial advice was “unacceptable”, and the bank was launching a scheme to compensate clients who lost money due to the planners’ actions.

In a statement Mr Narev said, “Poor advice provided by some of our advisers between 2003 and 2012 caused financial loss and distress and I am truly sorry for that. […] There have been changes in management, structure and culture. We have also invested in new systems, implemented new processes, enhanced adviser supervision and improved training.”

An investigation by Fairfax Media instigated the Senate inquiry into the Commonwealth Bank’s financial planning division and ASIC.

Whistleblower Jeff Morris, who reported the misconduct of the bank to ASIC six years ago, said in an article for The Sydney Morning Herald that neither the bank nor ASIC should be in control of the compensation program.

Give Your Kitchen And Washroom A New Zing With Flexibletap Connectors

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A simple way to give your kitchen and washroom/s a makeover is by installing new taps. Using flexible tap connectors makes your job easier. A stylish kitchen fitted with state of the art gadgets and labor saving devices looks incongruous with outmoded taps – or worse – taps that look decidedly tired! The range of tap styles is huge. From minimalist to luxury, modern to traditional, classical to contemporary there are taps to suit your washroom style.

The modern tap is a simple and very effective device. Inside the tap there is a valve or stopcock which stops of allows water to flow. Most taps have this design. The rest of the tap is just a means of directing water from your pipe. This means that designers have had a lot of fun creating ornate styles without affecting how the tap works. And when a flexible tap connector is used, then water can jet out at angles previously undreamt of.

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In case of leaks shut the water mains and check the flexible tap connector for flaws and replace if it is not a jointing problem. The biggest advantage of flexible tap connectors is that they can be easily fitted into existing pipework. Fitting or changing a tap is not a hard job rather it depends on what type of connectors you have.

The kind of tap which is not to be seen in most high rise buildings is the garden tap. However, if you are fortunate to have more than a tiny garden perched on your balcony, then that garden needs watering. A ground floor garden can be watered by means of water drawn from a well, a spring, a pond or lake or even a river. In case it is watered from the overhead tank in your house, then garden tap connectors are a godsend. These garden tap connectors are designed specifically to adjust to water pipes and hoses. Some manufacturers even give you an option to adjust the garden tap connector to a sprinkler which is ideal in very hot, dry places.

Article Source: sooperarticles.com/home-improvement-articles/kitchen-improvements-articles/give-your-kitchen-washroom-new-zing-flexibletap-connectors-556887.html

About Author:

Clifton rubber is the largest manufacturer of rubber products like rubber mouldings, rubber gaskets & extrusions, flexible tap connectors, garden tap connectors and rings, precision engineering, cnc milling, cnc machining, anti vibration mountings.Author: John Deangelis

News briefs:February 27, 2008

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Contents

  • 1 Wikinews News Brief, February 27 2008 0430 UTC
    • 1.1 Introduction
    • 1.2 Events of worldwide notability, military action, disasters etc.
      • 1.2.1 Kenya peace talks put on hold
      • 1.2.2 Jersey child abuse case ‘was not covered up’
      • 1.2.3 Nigerian election result will not be annulled
      • 1.2.4 Iraq demands immediate withdrawal of Turkish troops
    • 1.3 Non-disastrous local events with notable impact and dead celebrities
      • 1.3.1 Massive blackouts hit Florida
      • 1.3.2 Thousands protest privatisation of Australian electricity industry
      • 1.3.3 Pakistan’s ban on YouTube lifted
      • 1.3.4 Minor earthquake shakes England
    • 1.4 Business, commerce and academia
      • 1.4.1 Seeds placed in Norwegian vault as agricultural ‘insurance policy’
      • 1.4.2 Michael Jackson’s Neverland Ranch to be auctioned off
      • 1.4.3 Microsoft Network users experience international outage
      • 1.4.4 Video hosting website Stage6 to shut down
    • 1.5 Arts and culture
      • 1.5.1 N.Y. orchestra helps forge relations with North Korea
    • 1.6 Footer

[edit]

Neville Chamberlain’s War Diaries go on display

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Tuesday, August 18, 2009

File:Arthur-Neville-Chamberlain.jpg

The personal diaries of British wartime Prime Minister Neville Chamberlain are to go on display at the Imperial War Museum in London.

Beginning on August 20, 2009, a free exhibition, marking the 70th anniversary of the declaration of WWII, will allow visitors to have an unprecedented insight into the mind of the Prime Minister at the helm of the government when war was declared on September 3, 1939. His entry for that day, a note scribbled in pencil reads simply: “War declared.” With the diaries, a letter to his sister detailing the preparations for war, and the declaration letter itself, written by Foreign Secretary Lord Halifax.

The centrepiece at the exhibition will be accompanied by King George IV‘s jacket worn on his television appearance, and other previously unseen memorabilia from the period in the immediate run up to the Second World War.

A book, entitled The World Goes To War, is to be published on August 27, 2009 to accompany the exhibition. Also, a television documentary will be broadcast on UK network ITV1.

Yahoo chooses Dublin as location of new European Headquarters

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Tuesday, February 15, 2005

Dublin – Yahoo!, the internet portal, today announced it has chosen Dublin, Ireland as the location of its European Headquarters. Ireland beat off stiff competition from other European countries to win the investment. The move is expected to create over 400 jobs – two thirds of which are expected to be for graduates with skills in information technology, financial services, customer support and website editorial.

Earlier in the month, Ireland lost a potentially multi-billion euro investment by Dell for a new manufacturing facility to Scotland. This was a huge disappointment for IDA Ireland – the countries main development agency – which had offered heavy incentives to the US computer maker. This brought about fears that Ireland had lost its ability to attract high-value investments from foreign multinationals – the driving force of Ireland’s Celtic Tiger economy.

Speaking about the investment, the Irish Minister for Enterprise, Trade and Employment, Micheál Martin, said winning the Yahoo project was a “truly outstanding achievement for Ireland”. Yahoo’s Senior Vice President International, John Marcom, said the decision to locate its European operations headquarters in Ireland was influenced by a “number of factors” which included “the calibre and volume of graduates available in Ireland, the up to date cost competitive telecommunications and data centre infrastructure, and the assistance of IDA Ireland.”

Yahoo is one of the world’s largest internet companies. Its decision to locate in Ireland confirms Dublin’s continued attractiveness to internet and technology companies – Google, Bell Labs, eBay, Microsoft, Amazon and Oracle all have significant Irish operations.

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Gunman commits suicide at University of Texas

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Tuesday, September 28, 2010

A man wearing a ski mask and carrying an assault rifle apparently killed himself in the library of the University of Texas in Austin, Texas earlier today.

The university was placed under lockdown and all classes were canceled as a result of the incident. Nobody else was hurt, but police are still looking for a possible second gunman. Art Acevedo, the chief of Austin police, said that officials are also considering the possibility of explosives left by the suspect. Armored vehicles were seen moving around the campus in response to the event, as well as {{w|SWAT team|SWAT teams}, bomb-sniffing dogs, and police helicopters. An ambulance was seen around 9:00 a.m. CDT (1400 UTC) at the University of Texas’ Perry-Castaneda library.

The school’s website included a notice this morning, which read: “The person involved in this morning’s shooting on campus has been confirmed dead on the sixth floor of the Perry-Castaneda Library from an apparent self-inflicted gunshot wound. Law enforcement are searching for a second suspect. If you are off campus, STAY AWAY. If you are on campus, lock doors, do not leave your building.” The gunman was reportedly killed by a self-inflicted gunshot wound, and no shots had been fired by law enforcement officials.

The shooter has not yet been identified, and the reason behind the incident is not yet known. Witnesses described the man as wearing a dark suit and ski mask, and carrying an assault rifle. Randall Wilhite, a professor at the university, said that he heard gunshots while going to class and saw the suspect heading toward the library just after 8:00 a.m. CDT (1300 UTC). The gunman appeared to be firing shots randomly. “When I pulled up in my car, he stood right in front of me and didn’t stop running but turned in my direction, fired three shots into the ground to the left of my car and kept running,” said Wilhite. The gunman had the chance to shoot students, added Wilhite, but he did not appear to be targeting them.

The school, which has around 50,000 students, sent out an alert around that time warning students to stay where they were. Robby Reeb, a senior at the school, said that “a guy sprinted past me screaming, ‘There’s a guy with a gun.’ I looked up and saw a man in a ski mask, wearing a suit, and carrying an assault rifle. And I called 911.”

Police said that the gun used in the shooting was an AK-47, and that they were examining two different crime scenes: where the shots were fired outside, and where the gunman was found dead in the library. Police would not say whether he was attending the university. Chief Acevado said that there were “reports of a second suspect that was wearing a beanie with a long rifle, wearing blue jeans and a black top” that “may or may not be a white male.”

Several hours after the lockdown began, police allowed students to leave the university’s campus, although nobody is still allowed to enter.

The school was also the site of a shooting spree on August 1, 1966, in which university student Charles Whitman fatally shot fourteen to sixteen people and wounded another 32 before being himself killed by law enforcement authorities; reports of the exact death toll are inconsistent. Whitman, a former U.S. Marine, shot students from the observation platform of the school’s tower. That event was the deadliest school shooting in the United States until the 2007 Virginia Tech massacre.

Bombing of Peshawar Pearl Continental Hotel in Pakistan kills 18

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Thursday, June 11, 2009

Militants in Pakistan launched a truck bomb attack on the Peshawar Pearl Continental hotel, killing 18 and wounding at least 55. Among the dead were two foreign United Nations officials working for the World Food Programme.

According to the BBC, Fidayeen-e-Islam, a relatively obscure Pakistani militant group, claimed responsibility for the blast. The attack follows a threat from the Taliban made on May 27, warning of “major attacks” in Pakistan.

The bombing occurred despite the property being heavily guarded and secure. The militants gained entrance by overcoming the guards with gunfire, and forcing a bomb-laden truck, containing at least 500 kilograms of explosives, through the gates. Police official Liaqat Ali told the Associated Press that the militants “drove the vehicle inside the hotel gates and blew it up on reaching close to the hotel building.”

The bomb caused a 15-foot wide crater, and brought down the west wing of the hotel. An injured guest, Jawad Chaudhry, said, “The floor under my feet shook. I thought the roof was falling on me. I ran out. I saw everybody running in panic. There was blood and pieces of glass everywhere.”

The hotel is regularly used by businessmen and diplomats, and is located in a secure area of the city. Neighbours include the Peshawar High Court, Provincial Assembly and the official home of the Commander of the Frontier Corps. The perceived security of the neighbourhood makes it a candidate for the location of a planned United States consulate.

St. Anthony Foundation provides hope

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Friday, September 23, 2005

On the corner of Golden Gate Ave. and Jones St. in the Tenderloin, San Francisco, right next to the Civic Center you can see a throng of low-income and homeless people lining up outside of St. Anthony’s Dining Room hall which opens up it’s doors everyday at 11:30 a.m. Volunteers dressed in St. Anthony Foundation shirts help keep the lines moving as hundreds of homeless and low income people shuffle their way towards the dining hall underneath the watchful eyes of a small statue of St. Francis of Assisi.

“There’s a lot of people who go hungry out here and it ain’t right.” says Jimmy Scott, a slightly brawny 44-year-old black man who has been living homeless in San Francisco for the past three years. “There are families out here with kids and everything and they have to walk around all night just to stay awake so they don’t get hurt or killed…Right here in the U.S. this is going on…it ain’t right.”

The dining hall, which has been open for the past 54 years, is owned by the St. Anthony Foundation which helps low income and homeless people and families in the Civic Center, Tenderloin, and SOMA areas with clothing, shelter, food, drug rehabilitation, and many other services. St. Anthony’s administrative offices are found at 121 Golden Gate Ave. with the majority of the foundation’s buildings on Golden Gate Ave. and Jones St.

“We are right in the heart of the homeless population of San Francisco,” says Barry Stenger, 55, who’s been working for the St. Anthony Foundation for one year, and is the Director of Development and Communications, “and people are pushed here because of the economic forces of San Francisco because it’s hard to be upper middle class in San Francisco.”

According to the San Francisco Chamber of Commerce, “San Francisco’s cost of living remains one of the highest in the country” with the average household income in San Francisco being around $76,400 and the average price of housing being $543,000. Average household income for the United States in 2002, according to the U.S. Census Bureau, was $42,409 and the average price of housing for the United States according to the National Association of Realtors was $185,200 in 2004.

“We served our 32 millionth meal on Tuesday,” said Stenger, “and we serve 2,500 meals a day. Some of our people who work here actually get served [food] here because they spend all their money towards rent and medical costs.”

The St. Anthony Foundation was started by Fr. Alfred Boeddeker in 1950 one year after Fr. Boeddeker became pastor of St. Boniface church on Golden Gate St. where he was baptized as a child. During his lifetime, according to the foundation’s website, he was referred to as the “Patron St. of the Tenderloin” and had Boeddeker park named after him because of his, and his foundation’s, achievements with helping out the homeless and low income community.

“[St. Anthony’s] is a good thing,” said Jimmy Scott, “they provide a good service and they feed people and they clothe them and provide furniture when you get housing and give you groceries when you have AIDS. It’s a good little organization.”

“Our dining room is open 365 days a year.” Said Stenger. “Our other facilities are open seven days a week. We have a residence for senior women and our [free medical] clinic is open five days a week and we also have a furniture and clothing store. We have 12 programs all together.”

Some of those programs are the Father Alfred Center which provides 61 men two programs for getting out of drug and alcohol abuse, the Employment Program/Learning Center which helps participants in educational and employment opportunities and provides each one with a personal staff advisor, and a Senior Outreach and Support Services center which states its mission is to “promote independence, self determination, and alleviate isolation” for seniors who are 60 and older.

A few homeless people who were interviewed complained that St. Anthony’s had some staff who were rude and that they were kicked out of the dining hall; other homeless within the area refuted those claims saying St. Anthony’s has nice staff and only kicks people out who cause trouble.

“It’s a good place and good people. Everybody is so kind and so respectful and everything is under control.” Said John Henderson, a tall and skinny 57-year-old homeless black man who has only been living in San Francisco for close to two months because he recently moved there from Phoenix, Arizona. “It’s pretty cool because they’re under control because yesterday I saw at Glide [Memorial Church which also has services for the poor and low income] and they were handing out food boxes and people were just rushing in and the woman in charge there was freaking out and so she just sat down. That would never happen at St. Anthony’s.”

“And they clean too!” Henderson said laughing with a grin on his face referring to the fact that there are no drugs allowed in the premises. “Not that Glide ain’t clean if you know what I mean.”

“We [also] have a whole division that deals with justice education and advocacy to change the system that brings people to our doorstep.” Said Stenger. “We hear a lot of appreciation from the people we serve. We get a lot of testimony from our clients who have become clean and sober. Sometimes we have to push them a little to get them out the door because they love the [foundation] so much because it has changed their lives.”

This article features first-hand journalism by Wikinews members. See the collaboration page for more details.
This article features first-hand journalism by Wikinews members. See the collaboration page for more details.

Protests at New York’s Hamilton College over controversial professor

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Monday, January 31, 2005

New York, USA – Students and professors at New York‘s Hamilton College have raised protests over an invitation to the controversial ethics professor, Ward Churchill, to participate in a panel at the college. The main objection is related to comments by Mr. Churchill, chairman of the ethnic studies from the University of Colorado, who in a paper written after the September 11, 2001 attacks on the World Trade Center in New York, compared the victims of the attack to “little Eichmanns“.

Churchill’s paper, entitled “Some People Push Back”, charges that all American citizens are complicit in the “genocide of 500,000 Iraqi children,” which he maintains occurred during the Gulf War as a direct result of military actions and the destruction of infrastructure and the water supply. Due to their inaction and empowerment of the American government, he compares American citizens to “Good Germans.” He also charges that the inhabitants of the targets of attack, namely the Pentagon and World Trade Center, have a dubious claim to the title “Innocent Civilians,” as the Pentagon was a military target and the WTC was home to many who he alleges profited from the Iraqi Genocide.

Administrators defended Professor Churchill’s appearance despite the fact that some considered his views repugnant and disparaging.

According to Hamilton College spokesman Michael DeBraggio: “Hamilton, like any institution committed to the free exchange of ideas, invites to its campus people of diverse opinions, often controversial.”

The University of Colorado’s Interim Chancellor Phil Distefano said in a statement:”I wish to make it clear that Professor Ward Churchill’s views of the events of 9/11 are his own and do not represent the views of University of Colorado faculty, staff, students, administration or Regents. While I may personally find his views offensive, I also must support his right as an American citizen to hold and express his views, no matter how repugnant, as guaranteed by the First Amendment of the Constitution.”

The professor’s opinions divided New York’s Hamilton College, where Churchill is scheduled to speak. Jessica Miraglia, a student at Hamilton, created a poster defending the professor reading “You don’t have to agree with them in order to learn from them.”. Sophomore Matt Coppo, who lost his father in the World Trade Center attacks was angered over the invitation to Churchill. “Knowing that I’m paying for a person to disrespect my father, it doesn’t go over too well in my mind.”

Two congressmen from Colorado asked professor Churchill to apologize for comparing victims of the 9/11 World Trade Center attack to Nazis. Professor Churchill has said that he will not back off his statement.

Wikinews interviews Joe Schriner, Independent U.S. presidential candidate

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Saturday, April 17, 2010

Journalist, counselor, painter, and US 2012 Presidential candidate Joe Schriner of Cleveland, Ohio took some time to discuss his campaign with Wikinews in an interview.

Schriner previously ran for president in 2000, 2004, and 2008, but failed to gain much traction in the races. He announced his candidacy for the 2012 race immediately following the 2008 election. Schriner refers to himself as the “Average Joe” candidate, and advocates a pro-life and pro-environmentalist platform. He has been the subject of numerous newspaper articles, and has published public policy papers exploring solutions to American issues.

Wikinews reporter William Saturn? talks with Schriner and discusses his campaign.

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