fuzhong.org

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.

Sunday, June 11, 2017

While Theresa May remains Prime Minister of Britain, her party, the Conservative Party, won Thursday’s general election but lost its majority in Parliament.

The next scheduled general election was not until 2020. May requested this general election, called a snap election, in April, when polls indicated it would strengthen the then-slight majority the Conservatives held in Parliament. Talks to establish the specifics of Britain’s departure from the European Union are set to begin June 19. Last year, British voters decided to leave the EU, but many of the specifics of the United Kingdom’s new relationship with the rest of Europe have yet to be established. May and the other Conservatives favor a “hard Brexit”, in which Britain would lose its current level of access to Europe’s single market and have to deal with higher tariffs and more complicated customs processes but it would regain full control of its borders with respect to trade and immigration. An increase in the number of Conservative Parliamentary seats would have supported this plan.

“Officially Theresa May is still the partner in Brexit negotiations,” said senior German MP Stephan Meyer, “but the political reality is different after this disastrous defeat. I can’t imagine that May will be able to remain prime minister.”

Jean-Claude Juncker of the European Commission said, “As far as the Commission is concerned we can open negotiations tomorrow morning at half past nine […] First we have to agree on the divorce and exit modalities, and then we have to envisage the architecture of our future relations. I do hope that the result of the elections will have no major impact on the negotiations we are desperately waiting for.”

A Parliamentary majority requires 326 of the organisation’s 650 seats. The Conservative Party holds 318 outright, including May’s own seat in Maidenhead, and the Labour Party holds 262, having gained about 30 in this election. In Britain, the leader of whichever political party has the most seats becomes Prime Minister, though they are also formally appointed by the monarch. Theresa May became leader of the Conservative Party on July 11 of last year and was appointed by Queen Elizabeth II two days later. Cases in which no political party wins outright are called a hung Parliament, and then two or more parties rule together in coalition. Britain had a coalition government from 2010 to 2015. Northern Ireland’s Democratic Unionist Party has pledged an unofficial alliance with the Conservatives, which would bring them up to 328.

This would make May the second Prime Minister in a row to call an election with unexpected results. David Cameron called for a referendum on Britain’s EU membership, not expecting the voters would reject it.

May’s current ministry said most of her senior officials, including Treasurer Philip Hammond, Foreign Secretary Boris Johnson, and Home Secretary Amber Rudd, will remain in the Cabinet.

May met with Queen Elizabeth II yesterday to request her permission to form a government in her name, a traditional formality.

[edit]

Monday, March 30, 2009

First becoming famous in her native Ukraine in the 1990s, long-haired self-described “Amazon” Ruslana gained international recognition for winning the 2004 Eurovision Song Contest with her song “Wild Dances,” inspired by the musical traditions of the Hutsul people of the Ukrainian Carpathian Mountains.

In the five years since, Ruslana has decided to use her name and public status to represent a number of worthy causes, including human trafficking, renewable energy, and even the basic concept of democratic process, becoming a public face of Ukraine’s Orange Revolution and later serving in Parliament.

Currently, she is on an international publicity tour to promote her album Wild Energy, a project borne out of a science fiction novel that has come to symbolize her hopes for a newer, better, freer way of life for everyone in the world. She took time to respond to questions Wikinews’s Mike Halterman posed to her about her career in music and her other endeavors.

This is the fifth in a series of interviews with past Eurovision contestants, which will be published sporadically in the lead-up to mid-May’s next contest in Moscow.

Friday, June 11, 2010

Turkey’s Finance Ministry has given Google a tax demand of $18.6 million, and Transport and Communications Minister Binali Y?ld?r?m called on Google to register as a taxpayer in the country to “help accelerate” the lifting of a ban on YouTube and Google services.

As The Register reported, access to search engine Google had been limited due to a block imposed on its IP set, and most of Google’s online services had been inaccessible in Turkey since June 4. The IP addresses were shared between YouTube and other Google services. As International Business Times reports, YouTube has been banned in Turkey since 2008.

Accoring to HaberTurk, which is the Turkish version of Bloomberg, Yildirim said that “YouTube is a tax-payer in 20 countries, and we want them to do the same in Turkey.” Turkey’s Finance Ministry has given Google a tax demand of $18.6 million. Y?ld?r?m called on Google to register as a taxpayer in the country, and he said that it is a step that “would help accelerate the lifting of a ban on the company’s Youtube video-sharing website.”

Reporters Without Borders condemned “the growing repercussions of Turkey’s censorship of YouTube” and quoted Turkey’s President Abdullah Gul as saying “I do not want Turkey to be included among the countries that ban YouTube and prevent access to Google.”

Several internet sites have recently been banned in Turkey. The Register reports that 3,700 websites are “blocked for arbitrary and political reasons” in Turkey, including foreign websites, sites aimed at the country’s Kurdish minority, and gay sites according to The Organisation for Security and Cooperation in Europe (OSCE). Reporters Without Borders added Turkey to the list of “countries under surveillance” in its report on “Enemies of the Internet,” issued March 2010.

Friday, February 10, 2006

Archaeologists have discovered a tomb, referred to as KV63, in Egypt’s Valley of the Kings. It is the first such discovery since Howard Carter’s 1922 discovery of Tutankhamun‘s tomb. The discovery was made by a team from the University of Memphis. Zahi Hawass, head of the Supreme Council of Antiquities said in a statement that five intact sarcophagi that all contained mummies and 20 large storage jars that were sealed with pharaonic seals had been recovered.

American archaeologist Kent Weeks, who was not part of the team but had seen photographs of the site, told the Associated Press that “It could be the tomb of a king’s wife or son, or of a priest or court official”. The find refutes the long held belief that the Valley of the Kings has little left to discover. According to Weeks: “It’s ironic. A century ago, people said the Valley of the Kings is exhausted, there’s nothing left,” he said. “Suddenly Carter found Tutankhamun. So then they said, ‘Now there’s nothing to find.’ Then we found KV5. Now we have KV63.”

KV63 is located in the area between KV10 (Amenmesse) and KV62 (Tutankhamun), in the very centre of the Valley’s eastern branch and near the main crossroads of the network of paths traversed by thousands of tourists every day. The tomb was found at a depth of some three metres beneath the ground. The burial site is believed to date from the latter portion of the 18th dynasty (ca. 14th century BC), but the occupants have not yet been identified.

Friday, April 2, 2010

Jack Diesing Sr., former chairman of the College World Series has died at the age of 92. His son announced the cause of death as complications from Parkinson’s disease. Diesing was chairman of the series from 1963 until 2002.

Diesing helped the tournament become one of the most successful college events in the United States. He became chairman in 1963 after his boss at Brandies department store died and passed on his duties to Diesing, one of which was the chairman role.

Before taking the role the series had only made a profit in five of its fourteen years. Under Diesing’s leadership the series never made a loss. During his time as chairman he also negotiated a long term contract with the NCAA and lengthened the series from 5 to 10 games.

Diesing’s son, Jack Diesing Jr., released a statement on his fathers death saying “My dad will be missed by a lot of people, but he won’t be forgotten”. He continued to say that his goals were to make “Omaha a better community” and to secure the “CWS to mantain its legacy”.

At the time of his death Diesing was still chairman emeritus of College World Series of Omaha Inc., a non-profit organization that helped with the coordination of the series.

[edit]