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.

Wednesday, December 17, 2008

The final farewell train in the first series of Shinkansen super-express, called zero-kei (0 Series), ran through western Japan Sunday afternoon from Shin-Osaka to Hakata. 0 Series has served in Japan since 1964, undergoing some model changes, and was retired from regular runs at the end of the last month. Extra farewell runs were scheduled for three days, with all seats allowed to be reserved, and this was the final run.

On Sunday in Shin-Osaka station, a farewell ceremony for Shinkansen 0 Series began at 14:30, where those who contributed to its debut were invited. Around 14:45, the train slowly appeared to enter Track 20. The head and tail cars changed roles, and the train got ready by 14:48 as HIKARI 347 bound for Hakata. And, at 14:56, blowing a long horn, the 0-Series train left for the final trip.

Japanese news media report that approximately 2,800 people gathered to see off the final departure, so did many in the stations the train stopped by. Lastly, the train arrived at Hakata as scheduled at 18:01, welcomed by about 1,600 fans.

Shinkansen network was launched on 1 October 1964, just before Tokyo Olympic Games, with a route connecting the capital Tokyo and Osaka City (now operated by JR-Central). The route for 0-Series trains was gradually extended to the west, which in 1975 reached Hakata area of Fukuoka City (now by JR-West).

Shinkansen 0 Series has a characteristic round face with a part like a shallow bowl, and was nicknamed “dango-bana” or “dangoppana” (literally, “dumpling nose”). At the time of its debut, 0 Series ran at a maximum speed of 210 km/h, which was the world’s highest. HIKARI, meaning beam or light, was the name of trains for the faster service. Even while more modern and faster series were rising, 0 Series continued to serve for some years, but in 1999 it ceased from JR-Central services, and in March 2000 from regular HIKARI runs of JR-West.

According to the media, remaining 0-Series Shinkansen cars are destined to be scrapped. Some other cars, which were withdrawn earlier, are preserved in museums including one in Osaka and National Railway Museum in the U.K.

December 15, 2004

In a rare case of man-bites-dog, a Gainsville, Florida man was arrested on an animal cruelty charge on Saturday after authorities determined that he had been biting his dog as punishment.

The man — Mount Lee Lacy, age 21 — told officers that biting was an effective form of punishment. He had most recently used biting in response to his dog defecating in the house. He has not yet posted his $25,000 bail.

Thursday, May 13, 2010

Wikinews reporter Iain Macdonald has performed an interview with Dr Isabella Margara, a London-based member of the Communist Party of Greece (KKE). In the interview Margara sets out the communist response to current events in Greece as well as discussing the viability of a communist economy for the nation. She also hit back at Petros Tzomakas, a member of another Greek far-left party which criticised KKE in a previous interview.

The interview comes amid tensions in cash-strapped Greece, where the government is introducing controversial austerity measures to try to ease the nation’s debt-problem. An international rescue package has been prepared by European Union member states and the International Monetary Fund – should Greece require a bailout; protests have been held against government attempts to manage the economic situation.

Wednesday, March 5, 2008

The implosion of a relationship between Wikipedia founder Jimmy Wales and journalist Rachel Marsden has resulted in controversy and international headlines. Associated Press and ABC News have also reported on questionable activity by Wales involving Wikimedia Foundation expenses. The Wikimedia Foundation is a donor-supported non-profit organization which runs Wikipedia.

Marsden had contacted Wales two years ago about concerns she had over the article about her on Wikipedia, and Wales determined the article was not compliant with Wikipedia’s standards. The tech blog Valleywag revealed Wales had a personal relationship with Marsden, and posted supposed transcripts of their instant message conversations on its site, www.valleywag.com. Wales and Marsden met in February, and The Times reported that “An apparent transcript of their conversations before that meeting suggests that, although Mr Wales had withdrawn from the editing process, he was still influencing the editors.” The Times quoted Wales from the chat logs as having stated to Marsden “The truth is of course a much worse conflict of interest than that; but that will do.” — in reference to his conflict of interest regarding Marsden’s article on Wikipedia.

Wales posted a public statement on Saturday on Wikipedia addressing the matter, and stated that his relationship with Marsden was over: “First, while I find it hard to imagine that anyone really cares about my sex life, the facts are: I am separated from my wife. I considered myself single at the time of my one meeting with Rachel Marsden on Feb. 9, 2008 … I am no longer involved with Rachel Marsden. Gossipy stories suggesting that I have been in a relationship with her ‘since last fall’ are completely false … I care deeply about the integrity of Wikipedia, and take very seriously my responsibilities as a member of the board and as a member of the Wikipedia community. I would never knowingly do anything to compromise that trust.” With regard to the conflict of interest in Marsden’s article, Wales had acknowledged to a team of Wikipedia editors in February 2008 that he and Marsden “became friends … and that we would be meeting about that,” and stated “I recused myself from any further official action with respect to her biography.”

On Sunday, The Canadian Press reported that Marsden had posted photos of herself on Ebay, and was selling items that Wales had left at her New York City apartment. In her Ebay posting, Marsden stated: “Hi, my name is Rachel and my (now ex-) boyfriend, Wikipedia founder Jimmy Wales, just broke up with me via an announcement on Wikipedia … It was such a classy move that I was inspired to do something equally classy myself, so I’m selling a couple of items of clothing he left behind, here in my NYC apartment, on eBay. Jimbo was supposed to come visit me in a couple of weeks and pick up some of his stuff, but obviously that won’t be happening now.” Marsden told The Canadian Press “It didn’t really help matters that Jimmy chose to announce the breakup to the entire world via Wikipedia (which apparently now is an online encyclopedia that doubles as a personal soapbox?) rather than to me directly (which he did much later, in an instant message discussion).”

Marsden placed a t-shirt and sweater which she said were left at her apartment by Wales up on Ebay, and started the bidding for each at ninety-nine cents, with the auctions set to end on March 12. By Monday, bidding on the t-shirt had reached US$300, and by Tuesday the highest bid had reached $12,200. In an email to The Globe and Mail, Marsden stated “My only focus right now, to be really honest, is on my career and finding a way to get back into print, TV, or radio here in NYC,” she wrote. “All of this other personal stuff is just an unfortunate distraction.”

Jay Walsh, the Wikimedia Foundation’s head of communications, told the San Jose Mercury News that Wales’ actions in relaying Marsden’s concerns about her Wikipedia article to a team of trusted editors was within his “routine” role. When asked by the San Jose Mercury News if Wales’ actions regarding the Marsden article could compromise his role with the Wikimedia Foundation and Wikipedia, Walsh responded “No, absolutely not.”

On Tuesday, ABC News carried a story by Wired News reporter Megan McCarthy regarding allegations of “excessive spending” by Wales, and Associated Press also reported on questions involving Wikimedia Foundation expenses. McCarthy reported that former Wikimedia executive Danny Wool, who had left the foundation last year, criticized Wales’ use of Wikimedia Foundation expenses in a blog post. Wool stated that Wales had tried to expense $300 bottles of wine, a $1,300 dinner for four at a Florida steakhouse, and visits to Moscow massage parlors to the foundation, and that the foundation rescinded Wales’ corporate credit card in 2006. Wool also stated that Wales paid the foundation $7,000, after being short $30,000 on receipts for expenses.

Wool told EPICENTER that “There were occasions where he used [the Wikimedia Foundation] for personal advancement under the guide [sic] of the mission. And, as someone who was in there for the mission part of it, I found that rather distressful.” Wool commented in an interview with the San Francisco Chronicle: “Originally, it was carelessness … But as things developed, it became more apparent and obvious that he was taking advantage of the foundation credit card. It was almost like his personal piggy bank.”

In an instant message exchange with Associated Press, Wales denied that the Wikimedia Foundation had taken away his corporate credit card, and asserted that he had made the decision to stop expensing business travel for the foundation. Wales highlighted a statement by the foundation’s executive director Sue Gardner: “Jimmy has never used Wikimedia money to subsidize his personal expenditures. Indeed, he has consistently put the foundation’s interests ahead of his own.” In an email to Associated Press, Brad Patrick, a former attorney for the Wikimedia Foundation, stated “Danny seems interested in blogging his way straight to a lawsuit”.

Florence Devouard, who chairs the Wikimedia Foundation, told Associated Press that Wales had been “slow in submitting receipts,” and that the foundation had rejected Wales’ expense at the Florida steakhouse. Devouard told fellow foundation board members in a private email that she had convinced Associated Press that “the money story was a no story,” and told Wales “I find (it) tiring to see how you are constantly trying to rewrite the past. Get a grip!” Wales told Associated Press: “The board, the current executive director, the previous executive director, and independent auditors have reviewed our books and publicly agree that all of my expenses were appropriate and fully accounted for.”

Media reports speculated on how the controversy would end up being represented in Wikipedia itself. On Wednesday, the St. Petersburg Times wrote: “Wales’ Wikipedia page said only this about Marsden: ‘Wales had a brief relationship with Canadian journalist Rachel Marsden.'” An article in The Australian surmised: “History will decide whether Mr Wales broke his own principles, but before that happens there may well be a Wikipedia page devoted to the controversy.”

Tuesday, October 13, 2009

An autopsy performed on Tuesday revealed that the late Boyzone singer Stephen Gately “had died of natural causes”.

Officials from the Spanish island of Majorca that Stephen had suffered from an accumulation of fluid on the lungs, or as it is known in scientific terms, a pulmonary edema. The 33-year-old singer was found dead on a sofa in the lounge of his apartment. He had been out of the accommodation for the night while he was partying with Andrew Cowles, who was his partner.

There was a court hearing held earlier today in Majorca. The hearing only lasted for a short time. The judge had decided that the family of Stephen Gately would be allowed to take his body back to the Republic of Ireland, the country in which Gately grew up and had lived in, by plane. After discovering Stephen’s death, the other members of Boyzone took a plane flight to Majorca, so as to comfort Andrew Cowles. They have now flown back to their homes.

Tuesday, August 2, 2005

Tom Cruise this week took the delivery service to a whole new level. Celebrating his 43rd birthday with numerous guests at a party in the USA, Cruise decided to call up his three favorite chefs, all living in Italy, to prepare a meal.

Cruise decided to fly all three chefs out to the United States at a cost of €14,500. According to the Daily Mail the chefs cooked the celebrity tagliatelle ragu, veal, and chocolate tiramisu.