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.

Friday, March 18, 2011

The New York Times announced on Thursday that it will start charging for full access to NYTimes.com, its online version. Beginning March 28, U.S. visitors who do not subscribe to the print edition will be allowed access to 20 articles a month. A digital subscription to the website will be required to read additional content.

The fee plan for Canadians is already in effect, allowing the NYT to “fine-tune the customer experience”, according to the announcement.

Unlimited access to articles will continue to be free for those users reaching the Times through links from search engines, blogs, and social media like Facebook and Twitter. The NYTimes.com home page and individual section front pages will continue be freely accessible.

The NYT unsuccessfully tried a pay wall six years ago. Due to declining profits and readership of its print edition, it is ready to try again.

According to comScore, a marketing research company that measures online traffic, NYTimes.com had 31.4 million individual visitors in February. It is the most-read newspaper site in the world, reported The Guardian.

“The challenge now is to put a price on our work without walling ourselves off from the global network, to make sure we continue to engage with the widest possible audience”, wrote Arthur Sulzberger Jr., NYT company chairman.

Sunday, April 10, 2005

Hitachi Global Storage Technologies, the San Jose, California-based joint venture of Japanese storage vendor Hitachi and U.S. technology giant IBM, has set a new record for storage density at 230 gigabits per square inch (Gb/in²). The company has developed technology to implement a recording method known as perpendicular recording, which allowed the increase in density above the current ~130 Gb/in² limit.

Techworld claims there is a race between Hitachi and Toshiba for who will get the first drives to market which use the technology. According to Hitachi, they expect, “to ship [their] first perpendicular recording product in 2005 on a 2.5-inch hard drive”. Toshiba is also planning to ship a drive in 2005 that uses perpendicular recording.

According to Techworld, Toshiba will ship an 80 GB, 1.8″ drive in 2005. Toshiba’s 1.8″ drives are used in portable electronic devices such as Apple’s iPod, which is currently available in sizes 60 GB and smaller.

While all commercially available hard drives to date use longitudinal recording, perpendicular recording has roots in research done in academic circles over 100 years ago.

Hitachi Tech has produced a Flash animation that explains the rudiments of perpendicular recording in a music-video style.

Inspired by the 1970s Schoolhouse Rock series of educational animation shorts, the flash movie features whimsical moments with data bits and disk platters that speak and sing (not possible with today’s technology), it also contains realistic details. Of no importance to the viewer, but perhaps of interest to some, the animation shows Texas Instruments’ UC5608DWP chips visible briefly in the background. While TI’s UC5608DWP 18-line SCSI terminator chips have been made obsolete by the new UCC5618, the chips are indeed designed for use in hard drives.

Sunday, March 31, 2013Despite an overcast start to Easter in the Australian Capital Territory, today’s weather cleared with the sun coming out by mid-afternoon and the temperature getting up to 21°C (70°F). A number of Canberrans took the opportunity to spend the day outside alongside Lake Ginninderra in Belconnen. People, including a number of families, played soccer and Australian rules football, fished, sailed and did other activities on the water, flew kites, barbecued and picnicked, walked their dogs, bicycled and utilized the skate park. While most shops were closed, a few lakeside eateries, including the Light House Water Front Pub and Subway, were open and had a number of customers.

Thursday, June 23, 2011

NASA’s Cassini–Huygens spacecraft has discovered evidence for a large-scale saltwater reservoir beneath the icy crust of Saturn’s moon Enceladus. The data came from the spacecraft’s direct analysis of salt-rich ice grains close to the jets ejected from the moon. The study has been published in this week’s edition of the journal Nature.

Data from Cassini’s cosmic dust analyzer show the grains expelled from fissures, known as tiger stripes, are relatively small and usually low in salt far away from the moon. Closer to the moon’s surface, Cassini found that relatively large grains rich with sodium and potassium dominate the plumes. The salt-rich particles have an “ocean-like” composition and indicate that most, if not all, of the expelled ice and water vapor comes from the evaporation of liquid salt-water. When water freezes, the salt is squeezed out, leaving pure water ice behind.

Cassini’s ultraviolet imaging spectrograph also recently obtained complementary results that support the presence of a subsurface ocean. A team of Cassini researchers led by Candice Hansen of the Planetary Science Institute in Tucson, Arizona, measured gas shooting out of distinct jets originating in the moon’s south polar region at five to eight times the speed of sound, several times faster than previously measured. These observations of distinct jets, from a 2010 flyby, are consistent with results showing a difference in composition of ice grains close to the moon’s surface and those that made it out to the E ring, the outermost ring that gets its material primarily from Enceladean jets. If the plumes emanated from ice, they should have very little salt in them.

“There currently is no plausible way to produce a steady outflow of salt-rich grains from solid ice across all the tiger stripes other than salt water under Enceladus’s icy surface,” said Frank Postberg, a Cassini team scientist at the University of Heidelberg in Germany.

The data suggests a layer of water between the moon’s rocky core and its icy mantle, possibly as deep as about 50 miles (80 kilometers) beneath the surface. As this water washes against the rocks, it dissolves salt compounds and rises through fractures in the overlying ice to form reserves nearer the surface. If the outermost layer cracks open, the decrease in pressure from these reserves to space causes a plume to shoot out. Roughly 400 pounds (200 kilograms) of water vapor is lost every second in the plumes, with smaller amounts being lost as ice grains. The team calculates the water reserves must have large evaporating surfaces, or they would freeze easily and stop the plumes.

“We imagine that between the ice and the ice core there is an ocean of depth and this is somehow connected to the surface reservoir,” added Postberg.

The Cassini mission discovered Enceladus’ water-vapor and ice jets in 2005. In 2009, scientists working with the cosmic dust analyzer examined some sodium salts found in ice grains of Saturn’s E ring but the link to subsurface salt water was not definitive. The new paper analyzes three Enceladus flybys in 2008 and 2009 with the same instrument, focusing on the composition of freshly ejected plume grains. In 2008, Cassini discovered a high “density of volatile gases, water vapor, carbon dioxide and carbon monoxide, as well as organic materials, some 20 times denser than expected” in geysers erupting from the moon. The icy particles hit the detector target at speeds between 15,000 and 39,000 MPH (23,000 and 63,000 KPH), vaporizing instantly. Electrical fields inside the cosmic dust analyzer separated the various constituents of the impact cloud.

“Enceladus has got warmth, water and organic chemicals, some of the essential building blocks needed for life,” said Dennis Matson in 2008, Cassini project scientist at NASA’s Jet Propulsion Laboratory in Pasadena, California.

“This finding is a crucial new piece of evidence showing that environmental conditions favorable to the emergence of life can be sustained on icy bodies orbiting gas giant planets,” said Nicolas Altobelli, the European Space Agency’s project scientist for Cassini.

“If there is water in such an unexpected place, it leaves possibility for the rest of the universe,” said Postberg.

Friday, November 9, 2007

American musician Meat Loaf has canceled the remaining dates of his 2007 European tour on Tuesday. This decision was announced less than a week after the performer prematurely ended a concert in Newcastle upon Tyne.

Earlier reports attributed Meat Loaf’s medical problems at Newcastle to a sore throat. This week’s announcements indicate that the rocker sustained a vocal cord cyst that requires weeks of treatment and possibly surgery.

Despite Meat Loaf’s indication at the Newcastle concert that his career might have ended, a most recent statement on his fan site declared that he would be “coming back strong in 2008” with hopes of new concerts following treatment.

Monday, December 31, 2007

What would you tell your grandchildren about 2007 if they asked you about it in, let’s say, 20 year’s time? If the answer to a quiz question was 2007, what would the question be? The year that you first signed on to Facebook? The year Britney Spears and Amy Winehouse fell apart? The year author Kurt Vonnegut or mime Marcel Marceau died, both at 84?

Let’s take a look at some of the international stories of 2007. Links to the original Wikinews articles are in bold.

Monday, October 30, 2006

On November 13, Torontoians will be heading to the polls to vote for their ward’s councillor and for mayor. Among Toronto’s ridings is Etobicoke Centre (Ward 3). One candidate responded to Wikinews’ requests for an interview. This ward’s candidates include Francis Ahinful, Ted Berger, Anthony Caputo, Suzan Hall (incumbent), Andre Lucas, Rosemarie Mulhall, Brian Prevost, and Sonali Verma.

For more information on the election, read Toronto municipal election, 2006.

Friday, February 17, 2006

MPs at the British Parliament have voted by large majority of 200 to bring in legislation banning smoking in all pubs, clubs and workplaces in a landmark free vote. The ban is expected to come into force from summer 2007.

The originally proposed fine of £200 was raised to £2500 for failing to stop people smoking in banned areas in the late stages of the parliamentary process. Other fines include a fixed penalty notice of £50 for lighting up in banned areas and spot fines of £200 for failing to display no smoking signs in banned areas.

Smoking may also be banned in “substantially enclosed” venues such as railway stations and football stadiums; this may also include cars carrying passengers but no decision has been taken on this as yet. Ministers will finalise precise regulations after a three month consultation.

The vote was politically fraught, as the Labour Party in government had proposed a ‘compromise’ bill, in line with their election manifesto, which would allow pubs not serving food to be exempt from the ban. With many Labour MPs threatening to rebel against this compromise however, in favour of a full ban, Labour granted its members a free vote. MPs then voted for the full ban by a margin of 453 votes to 125,­ a majority of 328.

MPs then debated a last-minute amendment to exempt private members clubs, which was also rejected, by 384 votes to 184,­ a majority of 200. The Prime Minister, Tony Blair, voted for a complete ban along with his health secretary, Patricia Hewitt.

The ban will bring England in line with Scotland, Northern Ireland and Wales, which will all be introducing a full smoking ban for pubs and clubs. The bill also gives ministers powers to increase the age for purchasing cigarettes from 16 to 18 which ministers will begin the consultation process upon shortly.

Friday, March 17, 2006

A U.S. raid near Balad on Wednesday resulted in the deaths of between nine and 13 civilians. An Associated Press photographer recorded pictures of the bodies of two men, five children, and four covered corpses reported to be women. The victims had bits of rubble tangled in their hair and were covered in dust. Police Capt. Hakim Azzawi said in an interview with the Washington Post that 13 in total were dead, two men, five children, and six women. The U.S. military confirmed the attack but said only four people died — two women, a man and a child.

Family of the victims said the 11 dead people were wrapped in blankets and driven in three pickup trucks to the Tikrit General Hospital.

The US military said that the raid resulted in a “foreign fighter facilitator” being taken into coalition custody for questioning.

Police Capt. Laith Mohammed stated that the attack 50 miles north of Baghdad involved U.S. warplanes and armored vehicles, which flattened a house in the village of Isahaqi.

Ahmed, the brother of the dead man, told the Associated Press, “The dead family was not part of the resistance. They were women and children. The Americans have promised us a better life, but we get only death.”