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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.

Saturday, September 15, 2007

Mark Grenier is running for the Green Party of Ontario in the Ontario provincial election, in the Welland riding. Wikinews’ Nick Moreau interviewed him regarding his values, his experience, and his campaign.

Minor alterations not affecting the content have been made to this interview; the original text is available by clicking on the tab marked “Collaboration” for.

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.

Saturday, September 27, 2008

On October 14, 2008, Canadians will be heading to the polls for the federal election. Christian Heritage Party candidate Jerome Dondo, CGA is standing for election in the riding of Brandon—Souris.

Self-employed since 2000, Dondo works as a finance consultant with First Nation reserves, and provides accounting services to small business clients. From 1993-1998, he worked in the accounts department of Transport Canada. He volunteered as a pastor for Pentecostal Faith Temple in Cat Lake, Ontario, and is currently on the Parent’s Advisory Committee of Ecole Gilbert Rosset, St-Claude, Manitoba.

Wikinews contacted Jerome, to talk about the issues facing Canadians, and what they and their party would do to address them. Wikinews is in the process of contacting every candidate, in every riding across the country, no matter their political stripe. All interviews are conducted over e-mail, and interviews are published unedited, allowing candidates to impart their full message to our readers, uninterrupted.

Merv Tweed is the Conservative Party incumbent in the riding. Along with Dondo, challengers include M.J. Willard (Liberal), John Bouché (NDP), Dave Barnes (Green), and Lisa Gallagher (Communist).

For more information, visit the campaign’s official website, listed below.

Friday, April 6, 2007

U.S. Defence Secretary Robert Gates warned that limiting funding for the United States efforts in Iraq could lead to more bloodshed in the Middle Eastern country. In an interview with radio talk show host Laura Ingraham, he said it might even lead to ethnic cleansing in Bahgdad and elsewhere in Iraq.

Gates’ comment followed a proposal from Senate Majority Leader Harry Reid to end most spending on the Iraq war in 2008, limiting it to targeted operations against al Qaeda, training for Iraqi troops and U.S. force protection.

Sec. Gates also said that the duration of the troop increase is not clear and that evaluating whether the Administration’s new strategy was working will have to wait till mid-summer. The Army general charged with day-to-day operations has suggested that the increased deployment may extend to early next year.

Wednesday, January 27, 2010

The bodies of two children were found this morning in a car in Heathfield, East Sussex, in the United Kingdom. A 43-year-old woman has been arrested on suspicion of the murders.

The boy and girl were both less than five years old, and were discovered at 11:46 this morning (GMT) when Sussex police officers forced their way into the vehicle, which was parked on Mill Close in Heathfield. The woman, who has yet to be identified, had visited Heathfield police station earlier this morning to report “an incident”, and was later arrested on suspicion of murder. The police say that they have identified the bodies. The identities will be revealed when the post mortem examinations take place, which is scheduled for next Thursday.

The woman was taken to Eastbourne District General Hospital, and has not yet been interviewed by the police. She is believed to be from Surrey but have connections with the Heathfield area. Mill Close, the road on which the incident occurred, has been closed, according to a police spokeswoman, who said, “An investigation is now under way and the area around the scene is cordoned off.” Chief Inspector Julia Pope, Wealden district policing commander, said, “This is a very tragic incident, but I would like to reassure people that it is fully contained and there is no threat to anyone in the area. We will move to restore normality and access to Mill Close as quickly as possible.” A spokesman for the South East Coast Ambulance Service said, “We sent an ambulance and two response cars but sadly two young children were pronounced dead at the scene.”

Sunday, April 27, 2008

Police have arrested the owner of a mattress factory in Hay Hassini, Casablanca, Morocco which burned down in a disaster that claimed 55 lives. His son, who was the factory’s manager, was also arrested.

Those killed — 35 of whom were women — were trapped inside by locked fire exits, which were barricaded to stop theft during working hours. “The people who died were either asphyxiated or burned,” commented a firefighter. 17 were wounded. Moustapha Taouil of the Casablanca civil protection service said the blaze was triggered by an inadequatly maintained electric saw on the ground floor. The initial fire quickly engulfed all four storeys of the building.

The Rosamor factory was clearly operating unsafely, officials said. “It’s a building with a ground floor and three upper floors specialising in making furniture, therefore there were highly inflammable products,” said Taouil. “We confirmed during our examination that the owners of the premises failed to respect legal requirements for this kind of industry including staff training… the owner in contravention of the law, locked staff inside the plant apparently to prevent theft of raw material. It was this that prevented them getting out. The fire was caused by lack of proper maintenance of certain machines and electrical installations.” He said a short circuit on the ground floor, which was filled with power saws, triggered the disaster.

As a result of the investigatons, “The plant’s owner, Adil Moufarreh, and his son Abdelali Moufarreh, who was the manager, have been taken into custody after having been questioned by police,” said an official.

28-year-old factory employee Fadila Khadija said “There was no emergency exit, the extinguishers were empty and the working conditions were difficult.” One source said that windows were also unusable as they were covered with iron bars. 20-year-old survivor Omar Elaaz said “I was working on the first floor as an upholsterer. The smoke came up from the ground floor where the foam rubber, wood and glue are stored. I used a gas bottle to break the wire mesh that protects every window.” 31-year-old upholsterer Hakim Hakki told of his own lucky escape and its effect on him from hospital: “I jumped from the third floor with four other colleagues while the women, who didn’t dare to follow us, perished in the inferno. God saved me but I’ll never forget those who died.”

The father of deceased 19-year-old Abdelazziz Darif said his son was paid 250 dirhams (20 euro/31 US dollars) per week and did not have social insurance.