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.

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US prisoner in North Korea ‘attempts suicide’

Saturday, July 10, 2010

File:North korean leader.jpg

According to the North Korean government, a US citizen, Aijali Mahli Gomes, has attempted suicide in a North Korean prison. In April, Gomes was sentenced to eight years of hard labour for illegally attempting to cross into the reclusive country in January, though his reasons for doing so remain unclear.

In addition to the prison term, the man was also fined the equivalent of US$700,000 for a “hostile act”.

“Driven by his strong guilty conscience, disappointment and despair at the US government that has not taken any measure for his freedom, he attempted to commit suicide,” the North’s Korean Central News Agency reported. This report did not specify where and how Gomes attempted suicide, or his state at present, only adding that Gomes “is now [being] given first-aid treatment at a hospital”, and that Swedish diplomats at their Pyongyang embassy who handle diplomatic affairs between the US and North Korea have been made aware of Gomes’ condition.

Gomes was an English teacher in South Korea before trying to cross into the North. Gomes had also attended rallies that supported human rights activist Robert Park, who crossed into the North to protest the Communist country’s poor human rights record. Park was later expelled from North Korea 40 days after he entered.

North Korea’s international relations remain tense after the sinking of the South Korean warship Cheonan, and this report was issued just hours before the United Nations Security Council was expected to pass a resolution censuring the explosion of the Cheonan. North Korea has denied any involvement in the sinking of the warship and has declared that any sanctions from the international community will lead to war.

British Airways flight makes emergency landing in Iceland, terrorism ruled out

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British Airways flight makes emergency landing in Iceland, terrorism ruled out
Author: Posted under: Uncategorized

Saturday, August 26, 2006

A British Airways (BA) flight from London to Denver made an emergency landing at an airport in Iceland today after smoke was seen emerging from an oven in the aircraft’s rear kitchen.

A BA spokesman said that the Boeing 777 landed safely at Keflavik Airport. He added that the plane’s 268 passengers left the craft unharmed.

A spokeswoman from the Iceland Civil Aviation Administration ruled out any terrorist involvement. She added: “They were 50 miles from Keflavik when it was thought there was a fire. But it turned out to be only smoke.”

The flight should complete its journey to the US tomorrow. Passengers are spending the night in a hotel.

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Lockerbie convict Abdelbaset Ali al-Megrahi buried after dying at Libyan home

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Lockerbie convict Abdelbaset Ali al-Megrahi buried after dying at Libyan home
Author: Posted under: Uncategorized

Wednesday, May 23, 2012

Abdelbaset al-Megrahi has been buried in the town of Janzur, west of the Libyan capital Tripoli. He was the only individual convicted in association with the Lockerbie bombing of 1988. He died at his residence Sunday, aged 60.

The bombing of Pan Am Flight 103 from London to New York resulted in 270 fatalities, including all 259 of the airplane’s occupants and eleven individuals on the ground. 189 of those who died in the incident were US citizens. The death toll for this terrorist incident is larger than that for any other which has occurred in the United Kingdom thus far.

Abdelbaset al-Megrahi was placed on trial in May 2000 in the Netherlands alongside Al Amin Khalifah Fhimah. While Fhimah was found not guilty on all charges placed against him, al-Megrahi was found guilty of his and sentenced to at least 27 years imprisonment. Having been initially placed in HM Prison Barlinnie, al-Megrahi was transferred to Greenock in 2005.

In 2002, an appeal against his conviction was unsuccessful. Five years later, senior judges in Scotland were to review his case, but he dropped the appeal. Due to suffering from prostate cancer, he was granted a compassionate release from Scottish prison two days later.

Current UK Prime Minister David Cameron commented on his belief that al-Megrahi “should never have been released from prison” and said his death was an occasion “to remember the 270 people who lost their lives in what was an appalling terrorist act”. According to Alex Salmond, First Minister of Scotland, the investigation into the Lockerbie bombing is ongoing. Salmond also called for remembrance of those killed. Prosecutors, he said, had always thought there were others besides al-Megrahi involved in the attack.

US citizen Susan Cohen, the mother of one of those killed in the Lockerbie bombing, thought of al-Megrahi as “a mass murderer” who “deserved to die”, adding to CNN: “I feel no pity around him. He got to die with his family around him. My daughter [Theodora], at age 20, died a brutal, horrible death”. However, UK citizen Jim Swire, father of another victim of the bombing, believes al-Megrahi was not guilty. He described al-Megrahi’s death as “a sad time”, telling the BBC he was “satisfied for some years that this man was nothing to do with the murder of my daughter”.

Abdelbaset al-Megrahi has consistently denied responsibility for the attack. In his final recorded interview in December 2011, he insisted he was “an innocent man” who was “about to die and I ask now to be left in peace with my family.” His brother Mohammed al-Megrahi claimed “[t]here never was exact proof” and said al-Megrahi’s “pain is over now – he is with God”.

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Animated reconstruction of Pan Am Flight 103 just before explosion Image: Anynobody.

Animated reconstruction of flight at time of explosion Image: Anynobody.

Animated reconstruction of plane disintegrating just after explosion Image: Anynobody.

Memorial at Dryfesdale Cemetery in Scotland Image: StaraBlazkova.

Memorial at Syracuse University, Syracuse, in the US state of New YorkImage: Newkai.

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Man claims Blue Man Group put camera down throat; allegations denied

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Man claims Blue Man Group put camera down throat; allegations denied
Author: Posted under: Uncategorized

Wednesday, January 30, 2008

The Blue Man Group issued a press release Friday morning refuting a man’s claims that they forced a tube down his throat as part of a show.

Earlier this week, audience participant James Srodon filed a court claim in Cook County Circuit Court that members of performance trio forced a dirty tube down his throat against his will while he was part of a skit called “Esophagus Video.”

The description of the incident is not true, says the musical performance group.

“We are shocked and surprised to learn of the allegations made in reference to one of our comedic pieces, ‘Esophagus Video,'” the group said.

Srodon claims that he was unexpectedly approached and had a tubular camera forced down his throat during an October 2006 performance at Chicago’s Briar Street Theatre. He claims he had his head was forced back and one of the Blue Men forced the tube in him. The joke is to show footage from the inside of the audience member.

The Blue Man Group says that nothing actually goes down anyone’s throat.

” ‘Esophagus Video’ is simply an illusion,” the group wrote in its press release. “A camera is held in an actor’s hands, the actor’s hands are placed near an audience member’s mouth (not on or in). The live-feed video screen then switches to a pre-recorded medical video, resulting in the hilarious and absurd illusion that the audience is peering down an individual’s esophagus. Because the camera never enters the mouth, the execution of this illusion could not possibly put anyone at risk of injury.”

The group added the skit and skits like it have been performed for the past 15 years by them without complaint.

The Californian is suing on the basis that the alleged tube was unsafely dirty and that his experience being cornered gave him post-traumatic stress and nightmares.

Srodon also claims he lost fillings and dental work because of the tube. The suit is reported to be seeking damages of more than $500,000, however the group reported that they have not been served papers as of Friday morning.

The Blue Man Group has a lot of audience participation as part of their show and is a Las Vegas fixture. The music and comedy group came to public consciousness around 2000.

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News briefs:April 22, 2010

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News briefs:April 22, 2010
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Bankruptcies How To Obtain The Information You Need

Author: Posted under: Property Investment

By Gregory Martin

In these times of economic crisis, bankruptcies loom as a possibility among the unfortunate whose business calls turned sour, some who may have entered deals that did not deliver, or those who were just plain unlucky, betting on the wrong horse so to speak. It is also a time to be wary about insolvent companies and individuals that one may be dealing with.

Bankruptcies always leave a clear paper trail for those wishing to know whom they’re dealing with and for those who would like to go through bankruptcy proceedings. Before filing under Chapter 7, there are at least three options for those unfortunate to be in financial difficulties. A basic step is a thorough review and investigation of the specific creditors one has to deal with. It has to be ensured through this investigation that the next step to be taken should be towards working out a solution to the insolvency and avoidance of any further financial woes.

Settling out of court with creditors is one option for those in the brink of bankruptcies. Through such negotiations with the creditors, some debts may be settled or paid at a reduced rate. It is best that one seek professional help from companies providing assistance on this type of settlement. One drawback of this course of action of settling out of court is a reduction in the debtor’s credit standing.

[youtube]http://www.youtube.com/watch?v=AFIgRkXTvI8[/youtube]

A debtor in trouble may also choose to avail of the services of a debt counselor. Through this service, better payment terms may be obtained through consolidation of monthly payments and interest rate cuts on past due financial obligations. Again, the hitch here is that debtor’s credit standing is degraded.

Borrowing with the debtor’s home equity as collateral to settle short-term indebtedness, like credit card obligations, is an alternative consideration but which needs careful evaluation. This course of action could put the debtor’s home in jeopardy, a trouble worse than ever before. The debtor has to be disciplined enough not to incur any further debts and that his payments to the collateralized loan are regular and religious so as to avoid onerous penalties.

There’s one useful website designed to help individuals or companies whose financial situation seems headed for bankruptcy. It can be accessed at http://bankruptcyinformation.com which provides the pertinent US laws on bankruptcies. Through this website, a debtor could gain access to lawyers who give free advice to debtors in trouble on the best courses of action to take. These pro bono lawyers can help, if bankruptcy application or filing is inevitable, to determine the exemptions that may vary from state to state, or whether the best filing would be under Chapter 7 or Chapter 13. A sleuth on the lookout for bankrupt or bankrupt-bound companies or individuals could also access this site for the probable courts where particular insolvency cases may have been filed.

While having sound legal advice is necessary for insolvent entities and individuals because of the bankruptcy laws that vary from state to state, in tracing paper trail of bankruptcies, a must-step is to find a public records service that works, to find what you’re REALLY looking for!

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Source:

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Illinois high schools now required to buy insurance for athletes

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Illinois high schools now required to buy insurance for athletes
Author: Posted under: Uncategorized

Tuesday, August 6, 2013

This past Sunday, Illinois Governor Pat Quinn signed into law a bill known as “Rocky’s Law” that requires Illinois high schools, through the local school district, to buy catastrophic injury insurance up to US$3 million or medical costs for up to five years, whichever one comes first, that covers student athletes. The insurance must cover student athletes while they are competing.

The legislation was named after Rasul “Rocky” Clark. In 2000, the Eisenhower High School football player became paralyzed from the waist down as a result of a tackle during a game. His school based health insurance covered the costs of his medical treatment. A legislator sponsoring the bill noted that the need for this type of insurance is rare. Clark’s mother attended the legislation signing. Her son died last year.

Before parents can claim money from school insurance, they first must pay out US$50,000. Schools have until January 1, 2014 to comply with the law. Schools cannot charge students more than US$5 to defray the cost of insurance. If a school district already requires student to be covered through private health insurance, they are exempted from this law.

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Seeds placed in Norwegian vault as agricultural ‘insurance policy’

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Seeds placed in Norwegian vault as agricultural ‘insurance policy’
Author: Posted under: Uncategorized

Wednesday, February 27, 2008

The Svalbard Global Seed Vault, a vault containing millions of seeds from all over the world, saw its first deposits on Tuesday. Located 800 kilometers from the North Pole on the Norwegian island of Spitsbergen, the vault has been referred to by European Commission president José Manuel Barroso as a “frozen Garden of Eden“. It is intended to preserve crop supplies and secure biological diversity in the event of a worldwide disaster.

“The opening of the seed vault marks a historic turning point in safeguarding the world’s crop diversity,” said Cary Fowler, executive director of the Global Crop Diversity Trust which is in charge of collecting the seed samples. The Norwegian government, who owns the bank, built it at a cost of $9.1 million.

At the opening ceremony, 100 million seeds from 268,000 samples were placed inside the vault, where there is room for over 2 billion seeds. Each of the samples originated from a different farm or field, in order to best ensure biological diversity. These crop seeds included such staples as rice, potatoes, barley, lettuce, maize, sorghum, and wheat. No genetically modified crops were included. (Beyond politics they are generally sterile so of no use.)

It is very important for Africa to store seeds here because anything can happen to our national seed banks.

Constructed deep inside a mountain and protected by concrete walls, the “doomsday vault” is designed to withstand earthquakes, nuclear warfare, and floods resulting from global warming. Norwegian Prime Minister Jens Stoltenberg called it an “insurance policy” against such threats.

With air-conditioned temperatures of -18 degrees Celsius, experts say the seeds could last for an entire millennium. Some crops will be able to last longer, like sorghum, which the Global Crop Diversity Trust says can last almost 20 millenniums. Even if the refrigeration system fails, the vaults are expected to stay frozen for 200 years.

The Prime Minister said, “With climate change and other forces threatening the diversity of life that sustains our planet, Norway is proud to be playing a central role in creating a facility capable of protecting what are not just seeds, but the fundamental building blocks of human civilization.” Stoltenberg, along with Kenyan Nobel Peace Prize laureate Wangari Maathai, made the first deposit of rice to the vault.

“It is very important for Africa to store seeds here because anything can happen to our national seed banks,” Maathai said. The vault will operate as a bank, allowing countries to use their deposited seeds free of charge. It will also serve as a backup to the thousands of other seed banks around the world.

“Crop diversity will soon prove to be our most potent and indispensable resource for addressing climate change, water and energy supply constraints and for meeting the food needs of a growing population,” Cary Fowler said.

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British surfers catch more than waves: Scientists find antibiotic-resistant bacteria

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British surfers catch more than waves: Scientists find antibiotic-resistant bacteria
Author: Posted under: Uncategorized

Wednesday, January 17, 2018

In findings published Sunday in Environmental International, a team from Britain’s University of Exeter reports that surfers and bodyboarders are roughly three times as likely to house antibiotic-resistant Escherichia coli and other bacteria that could easily become resistant, than other people who recreate in the coastal waters of the United Kingdom.

The epidemiological study was nicknamed the “Beach Bum Survey”. The project was performed on 143 regular surfers, body surfers and bodyboarders from around the United Kingdom. Each surfgoing participant was asked to recruit a non-surfing friend of the same sex and approximate age and who lived in the same part of the country to serve as a control, which resulted in a control group of 130.

All participants mailed in rectal swabs, and the researchers cultured the E. coli from those samples with a common antibiotic called cefotaxime. The antibiotic failed to kill the bacteria in about 9% (13 out of 143) of surfer and bodyboarder samples and 3% of the samples from the control group (4 out of 130). A deeper look into the genomes of the specific strains of bacteria found in the study volunteers showed that bacteria from surfers were four times as likely to possess genes that can be transferred from one bacterial strain to another, which can help antibiotic-susceptible bacteria become resistant. The study also involved examination of water samples from the coasts of England and Wales to estimate the risk of surfers and other beachgoers ingesting E. coli.

E. coli is a regular resident in the guts of humans and other animals. Most strains are harmless but others can cause serious disease. Like other bacteria, E. coli can undergo horizontal gene transfer, swapping genes from one bacterium to another. This can give the altered strain the ability to cause disease, survive in the presence of antibiotics or both.

Although the researchers expressed concern surfers might spread dangerous bacteria, Dr. Will Gaze, the University of Exeter Medical School professional who supervised the project, urged people not to avoid the beach: “We are not seeking to discourage people from spending time in the sea, an activity which has a lot of benefits in terms of exercise, well-being and connecting with nature”, he said. “It is important that people understand the risks involved so that they can make informed decisions about their bathing and sporting habits. We now hope that our results will help policy-makers, beach managers, and water companies to make evidence-based decisions to improve water quality even further for the benefit of public health.”

David Smith, science and policy officer of Surfers Against Sewage, which helped organise the volunteers, agreed the study was not meant to discourage surfing: “Water quality in the UK has improved vastly in the past 30 years and is some of the cleanest in Europe. Recognising coastal waters as a pathway for antibiotic resistance can allow policy makers to make changes to protect water users and the wider public from the threat of antibiotic resistance.”

One of the principal findings of this work was that existing methods may have been underestimating the prevalence of these bacteria in seawater. Previous studies have shown that even designated swimming beaches can be affected by runoff from farms or even sewage, and surfers swallow roughly ten times as much seawater as swimmers. Professor Colin Gardner of the charity Antibiotic Research UK says, these forms of runoff can have even higher concentrations of antibiotics than patients undergoing antibiotic treatment. “Research into new medicines to replace our archaic antibiotics has stagnated and unless new treatments are found, this could be potentially devastating for human health”, he warns.

The World Health Organization has reported that because so many kinds of bacteria are gaining resistance to common medicines, conditions such as pneumonia and gonnorhea may become more difficult to treat and have higher rates of sickness and death. Doctors often prescribe preventative antibiotics to patients undergoing surgery or radiation therapy, and this may also be impacted. Professor Sally Davies, England’s chief medical officer, has described a “post-antibiotic apocalypse” scenario

The European Regional Development Fund and Natural Environment Research Council provided funding for the study.

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