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, October 3, 2007

Kristen Monster is running for the Family Coalition Party in the Ontario provincial election, in the Willowdale riding. Wikinews’ Nick Moreau interviewed her regarding her values, her experience, and her campaign.

Stay tuned for further interviews; every candidate from every party is eligible, and will be contacted. Expect interviews from Liberals, Progressive Conservatives, New Democratic Party members, Ontario Greens, as well as members from the Family Coalition, Freedom, Communist, Libertarian, and Confederation of Regions parties, as well as independents.

Friday, December 12, 2008

A US$14 billion bailout package deal for the “Big Three” United States automakers — Chrysler, Ford, and General Motors — has been rejected in the United States Senate after failing a procedural vote.

The bill was rejected after bipartisan discussions on the bailout broke down when Republican Party leaders insisted that the United Auto Workers (UAW) union agree to increase wage cuts by next year in order to bring their pay into line with those of Japanese automobile companies in the United States. The UAW refused to meet the demands.

The final vote count in the Senate was 52-35, eight short of the 60 needed to pass. Only ten Republicans joined forty Democrats and two independents in voting for the bill. Three Democrats voted with thirty-one Republicans against it.

Senate Majority leader Harry Reid said that he was “terribly disappointed” by the failure of the bill to pass. “I dread looking at Wall Street tomorrow. It’s not going to be a pleasant sight,” Reid said. “Millions of Americans, not only the auto workers but people who sell cars, car dealerships, people who work on cars are going to be directly impacted and affected.”

Republican Senator Bob Corker was also unhappy about the rejection. “We were about three words away from a deal. We solved everything substantively and about three words keep us from reaching a conclusion,” he said.

Some Democrats now want U.S. President Bush to reserve a portion of the $700 billion bailout package earmarked for Wall Street to assist the flagging car industry.

Stock markets worldwide fell dramatically on the news, with Japan’s Nikkei average losing 484.68 points, or 5.6 percent, reaching a level of 8253.87 points. Shares in the auto companies Toyota, Nissan and Honda all dropped by no less than 10 percent apiece. European stocks, such as those in the United Kingdom and Germany, also lost ground, with the FTSE-100 index of leading shares falling 176.3 points to a level of 4,211 at midday.

Friday, March 26, 2010

American singer Johnny Maestro died of cancer Wednesday at his home in Cape Coral, Florida. Maestro was best known for his 1958 hit song “16 Candles” with The Crests.

He began his career in the 1950s as lead singer for The Crests, an early interracial singing group. In 1968 he joined his band, The Del-Satins, with The Rhythm Method, another Long Island band. They became Johnny Maestro & The Brooklyn Bridge. Their song “The Worst That Could Happen” went gold in 1969. Maestro performed with The Brooklyn Bridge until two months before his death.

He was born on the Lower East Side of Manhattan on May 7, 1939 as John Mastrangelo. He is survived by his wife Grace and three children Lisa, Brad, and Tracy.

Tuesday, August 6, 2013

On Sunday Peter Capaldi was named as the twelfth Doctor on BBC’s Doctor Who. The announcement was made as part of a live broadcast by the BBC.

Capaldi had been considered by executive producer Steven Moffat for the role of the eleventh doctor before Matt Smith was ultimately chosen. The role became vacant after Smith announced earlier this year that he would be leaving the show. Capaldi said of his selection for the role, “Being asked to play the Doctor is an amazing privilege. […] Like the Doctor himself I find myself in a state of utter terror and delight. I can’t wait to get started.”

Capaldi’s first screen appearance in this role is scheduled to air on television in late 2013. He will be the second oldest Doctor in the show’s history, with only the original Doctor being older.

As of earlier today, the official BBC Doctor Who Facebook page has 138,238 likes and 47,809 shares for the news of Capaldi taking on the role.

Sunday, October 18, 2009

Soldiers of the Armed Forces of the Democratic Republic of Congo (FARDC) allegedly killed 50 Rwandan, Hutu refugees and kidnapped some 40 women who were victims of gang rape, according to a United Nations special report on extrajudicial executions.

The FARDC allegedly attacked a makeshift camp for Rwandan Hutu refugees on April 26, 2009 at Shalio in North Kivu, reported Philip Alston of the UN during a press conference in Kinshasa. The FARDC surrounded the camp, shot and beat to death at least 50 refugees and burned the camp.

“A small group of 10 [women] who escaped described being gang raped, and had severe injuries — some had chunks of their breasts hacked off,” said Alston. The military operation conducted by the FARDC, with the support of the UN Mission in DRC (MONUC) against Rwandan Hutu rebels, has been « une catastrophe, un désastre en matière des droits de l’Homme » (“a catastrophe, a disaster in terms of human rights,”) he added.

The statement comes as the High Commissioner of UN for Refugees António Guterres and Deputy US Secretary of State for Humanitarian Affairs Eric Schwartz are visiting the eastern Democratic Republic of Congo.

Sunday, July 1, 2007

A young woman was killed Friday night after an accident occurred on a gyrating ride at the Playland amusement park in Rye, New York in the United States. The woman, Gabriela Garin, was a worker at the amusement park, and had worked there for the past seven years.

The accident occurred near the end of Garin’s shift; as she was loading riders onto the ride. The ride’s new operator, unaware of Garin’s presence, started the ride while Garin was still on it. The new operator then noticed Garin, and shut the ride down in 20 seconds, but Garin had already been ejected from the ride and killed, according to a park spokesperson.

The ride is an attraction that spins people around in two-seat cars, inside a darkened tent to flashing lights and music.

This incident is not the first in the ride’s history. In 2004, a seven-year-old from Connecticut managed to free herself from the ride’s restraining bars, and climb onto the front edge of her seat. She fell soon after the ride started. A safety precaution was put in place after this incident, however, the spokesperson acknowledged that it was not followed when Garin was killed.

The company which owns the ride shut it down, along with two other rides it owns at the park.

This is the fourth fatality in the park’s history. The park features more than 50 rides, a pool, and a beach. It attracts more than 1 million visitors annually.

Friday, June 15, 2007

An 11th man was arrested yesterday by U.S. federal agents in Fresno, California, on charges connected to the plot by 10 other men to overthrow the government of Laos.

Later yesterday, the federal grand jury Sacramento handed down indictments for the 11 men, including former Royal Lao Army general and Hmong leader Vang Pao.

Dang Vang, 48, was arrested at his Fresno home in an early morning raid by agents from the United States Bureau of Alcohol, Tobacco, Firearms and Explosives, or ATF.

Dang Vang, Vang Pao and the others are charged with violating the U.S. Neutrality Act, which outlaws using United States soil to conspire to overthrow a foreign government that has peaceful relations with the U.S.

“Federal law is without equivocation: you cannot conspire to overthrow a foreign government with whom our nation is at peace,” U.S. Attorney McGregor Scott said in a statement to reporters.

According to the ATF, Dang Vang put the group’s “action plan” to paper, summarizing its plot to blow up government buildings in Laos and assassinate government officials. The plot even had a name: “Operation Popcorn,” or “Political Opposition Party’s Coup Operation to Rescue a Nation.”

In addition to the 77-year-old Vang Pao and Dang Vang, 48, those charged are:

• Harrison Jack, 60, a West Point graduate, retired California National Guard colonel and U.S. Army Ranger in the Vietnam War.
• Lo Cha Thao, 34, of Clovis
• Lo Thao, 53, of Sacramento
• Youa True Vang, 60, of Fresno
• Hue Vang, 39, of Fresno
• Chong Vang Thao, 53, of Fresno
• Seng Vue, 68, of Fresno
• Chue Lo, 59, of Stockton
• Nhia Kao Vang, 48, of Rancho Cordova, California

Most of the men indicted are prominent members of the Hmong immigrant community in California’s Central Valley. They were arrested last week in a sting operation as the group was trying to purchase a rifles, missiles, rocket launchers, mines and explosives from an ATF agent posing as an arms dealer.

In an 88-page criminal complaint, federal prosecutors detailed the plot, which included airlifting the weapons to Thailand, and had an estimated cost of US$27.9 million. Funds for the operation were raised from donations by the Hmong community and other supporters of Vang Pao from across the U.S.

During the 1960s and ’70s, Vang Pao led a covert army of Hmong people, backed by the U.S. Central Intelligence Agency, against communist forces in the Laotian Civil War, or “Secret War”, which paralleled the U.S. war in Vietnam.

Since the communist takeover of Laos in 1975, according to a March 2007 report by Amnesty International, Hmong people in Laos have taken to hiding in the mountains, on the run from a government that persecutes them for their role in the war.

U.S.-Laos diplomatic relations were strengthened in 1992, and in 2004, President George W. Bush extended normal trade relations to the southeast Asian country.