philrealtor.com

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.

Tuesday, October 11, 2005

Former Deputy President of South Africa, Jacob Zuma, has appeared in a Durban court to face corruption charges. Mr Zuma was dismissed by the President, Thabo Mbeki, earlier in the year, following the conviction on fraud charges of his financial advisor, Schabir Shaik.

Tuesday, April 14, 2020

In February 2017, the Iranian Chess Federation announced two teenage chess players, Dorsa Derakhshani and her younger brother Borna Derakhshani, were banned from representing the national team. The federation announced their decision although Dorsa Derakhshani had previously decided and informed the chess federation she did not wish to play for Iran.

Dorsa Derakhshani is currently 21 years old and holds the International Master (IM) as well as Woman Grand Master (WGM) titles. Her brother, Borna, plays for the English Federation and holds the FIDE Master title.

Dorsa Derakhshani was banned since she did not wear a hijab, an Islamic headscarf, while competing at the Tradewise Gibraltar Chess Festival in January 2017. Under the laws of Islamic Republic of Iran, hijab is a mandatory dress code. Her brother Borna Deraskhsani was banned for playing against Israeli Grand Master (GM) Alexander Huzman at the same tournament. Iran does not recognise the existence of Israel, and previously, Irani athletes have avoided playing against Israeli athletes.

Mehrdad Pahlavanzadeh, the president of the country’s chess federation, explained the decision to ban the players saying, “As a first step, these two will be denied entry to all tournaments taking place in Iran and in the name of Iran, they will no longer be allowed the opportunity to be present on the national team.” ^{((fa))Farsi language: ?????? ????? ?? ??? ??? ?? ??? ????? ?? ?? ???? ???????? ?? ?? ????? ? ?? ??? ????? ?????? ??????? ????? ??????? ? ???? ???? ???? ?? ??? ??? ?? ??????? ????.} He further stated, “Unfortunately, something that should not have happened has happened and our national interest is paramount and we have reported this position to the Ministry of Sports.” ^{((fa))Farsi language: ????????? ?????? ?? ????? ????????? ?????? ??? ? ????? ??? ?? ?? ?? ???? ?????? ???? ? ?? ??? ???? ?? ?? ????? ???? ?? ????? ?????.}

IM Dorsa Derakhshani, who currently studies at Saint Louis University in the United States and plays for the United States Chess Federation, discussed her chess career, time in Iran and the 2017 controversy, and her life in Saint Louis with a Wikinews correspondent.

Monday, September 25, 2006

The New Zealand government today has announced that they will not provide financial assistance to the Overlander train service between Auckland and Wellington, which is set to stop service on September 30, if no assistance is forthcoming. ONTRACK will retain the North Island main trunk line, while looking for tourism operators to start a tourist rail service.

Trevor Mallard, acting Finance Minister, said: “In making this decision… Cabinet recognised that there was no prospect of the current Overlander service becoming commercially viable. It was not a fuel-efficient operation and at an average passenger rate of 50 passengers each way per day, it was used by relatively few people.”

It is cheaper and faster to travel either by bus or plane rather than the 12-hour train journey. “The fares already overlap with airfares, and the reality is that the service is just not well-used. It can not compete with low-priced air travel and coaches. Cabinet considered the regional implications of ceasing the Overlander service and accepted that the current bus services run by the InterCity Group met the needs of those communities,” Mallard said.

There has been numerous petitions from the public and from the Green Party of New Zealand to continue the Overlander train service, including one petition signed by 16,000 people presented at the Parliament Buildings on September 14, 2006. “While there have been a number of propositions about retaining the Overlander service, all of the propositions would require government funding in one form or another,” said Mallard.

Mallard said that the government will only support rail services if it significantly benefitted the community.

The Government estimates that financial assistance to the Overlander train service would cost NZ$1.75 million a year.

“Finally, the government does recognise and value the importance of a viable and efficient rail network in New Zealand’s transport infrastructure. This was a critical factor in the government’s decision to buy the rail network back from Tranz Rail. The government has also committed $200 million to upgrade the national rail network between 2004/05 and 2007/08. A further $600 million has been provided to upgrade the Auckland rail network between 2005/06 and 2009/10.”

Tuesday, October 2, 2007

David McGruer is running for the Freedom Party of Ontario in the Ontario provincial election, in the Ottawa-Orleans riding. Wikinews’ Nick Moreau interviewed him regarding his values, his experience, and his 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.

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, June 13, 2008

British drivers have been urged not to panic buy fuel because of the 4-day walkout by delivery drivers working for companies delivering to Shell petrol stations. The 600 workers have walked out over pay disagreements, wanting an increase to their current pay of £36,500, however their union Unite turned down a last-minute offer of £41,500.

Hoyer UK, which employs tanker drivers for Shell, said, “We extended our offer to the very limits that our business could sustain.” However Unite said in a press release that, “this dispute could have been resolved if Shell had advanced a fraction of the billions of pounds in profit they make every month”, continuing to say, “one of the world’s richest companies is prepared to play Pontius Pilate and see the British public inconvenienced rather than settle this dispute for a sum smaller than the chairman’s pay increase last year”

Shell admitted that the walkout could leave some of its 1,000 forecourts without fuel, but the UK Petrol Industry Association, which represent oil refiners, said that forecourts would have around 4 days of supply, maintaining usual stocking levels. Shell also commented that the strike impact would be “significant”, as the company runs around 1 in 10 of all petrol stations in the UK.

British Business Secretary, John Hutton, said that “the strike, which will have a disproportionate effect on people in Britain, cannot be justified,” and urged both sides to resume negotiations in order to settle the dispute. “We have been working closely with industry to put in place detailed contingency plans to reduce as far as possible the disruption for the driving public,” he added. Unite’s press release also confirms that “provision has been made for fire, police and the emergency services.”

Tanker drivers on strike have set up picket lines at many of Shell’s UK refineries, including those in Stanlow, Avonmouth, Plymouth, Pembroke, Cardiff, Kingsbury, Basildon, Grangemouth, Aberdeen, Inverness, Jarrow and Luton Airport.