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Commonwealth Bank of Australia CEO apologies for financial planning scandal

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Commonwealth Bank of Australia CEO apologies for financial planning scandal

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.

Nintendo releases GameBoy Micro in the US

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Nintendo releases GameBoy Micro in the US

Tuesday, September 13, 2005

On the 20th birthday of Nintendo‘s mascots, Mario and his brother Luigi, Nintendo has released the newest addition to the popular Game Boy line.

The Game Boy Micro is the smallest handheld release by Nintendo to date. Unlike other handhelds in the Game Boy Advance series, the Game Boy Micro can only play Game Boy Advance games and not games designed for the original Game Boy system. The handheld features a new link port, includes multiple removable faceplates, and additional faceplates can be purchased separately. This system has an MSRP of USD$99.99.

Japanese survivor of both Hiroshima and Nagasaki atomic bombings dies, aged 93

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Japanese survivor of both Hiroshima and Nagasaki atomic bombings dies, aged 93

Friday, January 8, 2010

Tsutomu Yamaguchi, the only Japanese civilian to be officially recognized as having survived both the atomic bombings of Hiroshima and Nagasaki by the United States in August of 1945 at the conclusion of World War Two, has died this Monday at the age of ninety-three, due to stomach cancer—one of the numerous illnesses that he suffered throughout his lifetime as a direct result of his exposure to nuclear radiation.

Mr. Yamaguchi, although he was against his nation’s involvement in the War, worked as a engineer for Mitsubishi—a company that helped equip and supply the Japanese Imperial Army. He was on business in Hiroshima at the time of the first bombing on August sixth. His almost direct exposure to the atomic explosion temporarily blinded him, ruptured his ear drum (leaving him permanently deaf in his left ear), and severely burnt the top half of his body. Three days later, having gone back to work in Nagasaki, he was approximately three kilometers away from the site of the second bomb. Although he was exposed to significant radiation in this instance as well, Mr. Yamaguchi was left relatively unscathed.

Following Japan’s surrender and the end of the War days later, Mr. Yamaguchi worked as a translator for the occupying American forces and later as a local schoolmaster, before eventually returning to Mitsubishi—which had since then become an automobile manufacturer.

In his later years, Mr. Yamaguchi became a respected lecturer who gave talks about his experiences, and publicly spoke out against the stockpiling of nuclear weapons.

For instance, in 2006, he addressed the United Nations General Assembly. “Having been granted this miracle, it is my responsibility to pass on the truth to the people of the world,” Mr. Yamaguchi said to the Assembly. He went on to say, “My double radiation exposure is now an official government record. It can tell the younger generation the horrifying history of the atomic bombings even after I die.”

When asked by the British Broadcasting Corporation what his reaction was to Mr. Yamaguchi’s death, the mayor of Nagasaki said that “a precious storyteller has been lost.”

Among the family and friends Mr. Yamaguchi left behind were his three adult children—who have also had health issues in their lifetimes thus far that they think may have be related to their father’s initial exposure.

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Brazilian environmentalists tell residents to urinate in shower to save water

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Brazilian environmentalists tell residents to urinate in shower to save water

Wednesday, August 5, 2009

Environmentalists in Brazil are urging the country’s residents to urinate in the shower while washing themselves, to help conserve water and save the rainforest. Television ads being aired in the country claim that by doing so, the nation could save over 1,000 gallons of water per household each year.

SOS Mata Atlantica ran the ad campaign in an attempt to use comedy to get people to reduce the amount of water they use. “[The ad is] a way to be playful about a serious subject,” said Adriana Kfouri, a spokesperson for Atlantica.

The animated ad narrated by children shows people, including a trapeze artist, an alien and dancers, all taking a shower while at the same time, urinating in it. The ending of the ad then states, “Pee in the shower! Save the Atlantic rainforest!”

Ken Livingstone, former mayor of London, England, proposed a similar campaign in 2006. He said urine should be classified as a “green waste” and that “there is no earthly reason that you need to flush the loo if you have merely urinated. That’s a huge saving of water.”

categories Uncategorized | May 11, 2018 | comments Comments (0)

Experts: obesity is a bigger threat than AIDS or bird flu

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Experts: obesity is a bigger threat than AIDS or bird flu

Friday, September 8, 2006

From September 3 to 8, experts gathered at the 10th International Congress on Obesity in Sydney, Australia, to discuss what they call the worldwide “obesity epidemic”. According to the World Health Organization (WHO), 1 billion people in the world today are overweight, and 300 million of those are obese. “Obesity and overweight pose a major risk for serious diet-related chronic diseases, including type 2 diabetes, cardiovascular disease, hypertension and stroke, and certain forms of cancer“, a WHO fact sheet states. According to AP, experts at the conference “have warned that obesity is a bigger threat than AIDS or bird flu, and will easily overwhelm the world’s health care systems if urgent action is not taken”.

Of particular concern is the large number of overweight children. Dr. Stephan Rossner from Sweden’s Karolinska University Hospital, a leading obesity expert who was present at the conference, has warned that as a result of the increasing number of overweight children, “we will have, within a decade or two, a number of young people who are on kidney dialysis. There will not be organs for everybody”. UK-based International Obesity Task Force has said that junk food manufacturers target children, for example, through Internet advertising, chat rooms, text messages, and “advergames” on websites. Politicians are not doing enough to address the problem of obesity, including childhood obesity, the experts said.

According to Wikipedia, examples of junk food include, but are not limited to: hamburgers, pizza, candy, soda, and salty foods like potato chips and french fries. A well-known piece of junk food is the Big Mac. The US version of just one Big Mac burger contains 48% of calories from fat, 47% US Recommended Dietary Allowance (RDA) of fat, 52% RDA of saturated fat, 26% RDA of cholesterol, 42% RDA of sodium, and little nutritional value. It also has 18% of calories from protein. According to WHO, most people need only about 5% calories from protein. Staples such as rice, corn, baked potatoes, pinto beans, as well as fruits and vegetables such as broccoli, cauliflower, zucchini, oranges, and strawberries, provide more than this required amount of protein without the unhealthy amounts of fats or sodium, without cholesterol, and with plenty of fiber, vitamins, and minerals.

Both WHO and the American Centers for Disease Control and Prevention (CDC) define overweight in adults as a Body Mass Index (BMI) of 25 or above, and obese as a BMI of 30 or above. To combat overweight and obesity, WHO recommends that, among other things, people should be taking the following steps

  • eating more fruit and vegetables, as well as nuts and whole grains;
  • engaging in daily moderate physical activity for at least 30 minutes;
  • cutting the amount of fatty, sugary foods in the diet;
  • moving from saturated animal-based fats to unsaturated vegetable-oil based fats.

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Australian refugee contractor accused of breaching its duty of care

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Australian refugee contractor accused of breaching its duty of care

Friday, December 30, 2005

Contents

  • 1 Richard Niyonsaba
  • 2 Denial of food
  • 3 Background and Criticisms
  • 4 Sources

The Australian Centre for Languages, a company which has a multi-million dollar contract with the Australian government to provide refugee services, has been accused of breaching its duty of care following the death of a chronically ill child and allegations of failing to provide three women in their care with food.

categories Uncategorized | May 10, 2018 | comments Comments (0)

Delhi High Court restores copyright infringement case at Delhi University

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Delhi High Court restores copyright infringement case at Delhi University

Monday, December 12, 2016

On Friday, the Delhi High Court restored a trial over claims of copyright infringement from photocopying of study materials for Delhi University (DU) course packs.

The charges of violation of copyright by DU’s Rameshwari Photocopy Service was dismissed by justice Rajiv Sahan Endlaw in September saying there is no copyright infringement. But the bench of justice Pradeep Nandrajog and Yogesh Khanna said the case raises a “triable issue”.

The bench restored the case, meanwhile still allowing the Rameshwari Photocopy Service to sell course packs containing copyrighted material of the publications of claimants Oxford University Press, Cambridge University Press, and Taylor and Francis. The shop has been asked to report to the court every six months on what and how many course packs it photocopies and distributes.

The owner of the photocopy service shop, Dharam Pal Singh, said there was no reason for preparation of a course pack beyond the curriculum. He said the course pack had only readings the professors require or recommend; only important sections of the published books were photocopied.

“We declare that the law in India would not warrant an approach to answer the question by looking at whether the course pack has become a textbook, but by considering whether the inclusion of the copyrighted work in the course pack was justified by the purpose of the course pack”, the bench said.

Dharam Pal said the students needed course packs because some books are limited by “availability, price and circulation”. He said they are preserving data of some books last published more than half a century ago, and that some of the books cost more than ? 2000.

The High Court said it needs “expert evidence” to judge whether it is copyright violation or, as judge Sahani ruled, a fair use.

The case of copyright infringement was filled in the court in 2012. In September, Justice Endlaw said that, according to Section 52 of the Copyright Act, this instructional use did not amount to copyright infringement. He said, “Copyright, specially in literary works, is thus not an inevitable, divine, or natural right that confers on authors the absolute ownership of their creations.” Endlaw added, “Copyright is intended to increase and not to impede the harvest of knowledge. It is intended to motivate the creative activity of authors and inventors in order to benefit the public.”

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Wikinews interviews Rocky De La Fuente, U.S. Democratic Party presidential candidate

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Wikinews interviews Rocky De La Fuente, U.S. Democratic Party presidential candidate

Thursday, March 31, 2016

Businessman Rocky De La Fuente took some time to speak with Wikinews about his campaign for the U.S. Democratic Party’s 2016 presidential nomination.

The 61-year-old De La Fuente resides in San Diego, California, grew up in Tijuana, and owns multiple businesses and properties throughout the world. Since getting his start in the automobile industry, De La Fuente has branched out into the banking and real estate markets. Despite not having held or sought political office previously, he has been involved in politics, serving as the first-ever Hispanic superdelegate to the 1992 Democratic National Convention.

De La Fuente entered the 2016 presidential race last October largely due to his dissatisfaction with Republican front-runner Donald Trump. He argues he is a more accomplished businessman than Trump, and attacks Trump as “a clown,” “a joke,” “dangerous,” and “in the same category as Hitler.” Nevertheless, De La Fuente’s business background begets comparisons with Trump. The Alaskan Midnight Sun blog described him as the Democrats’ “own Donald Trump.”

While receiving only minimal media coverage, he has campaigned actively, and according to the latest Federal Election Commission filing, loaned almost US$ 4 million of his own money to the campaign. He has qualified for 48 primary and caucus ballots, but has not yet obtained any delegates to the 2016 Democratic National Convention. Thus far, according to the count at The Green Papers, De La Fuente has received 35,406 votes, or 0.23% of the total votes cast. He leads among the many lesser-known candidates but trails both Senator Bernie Sanders who has received nearly 6.5 million votes and front-runner Hillary Clinton who has just shy of 9 million votes.

With Wikinews reporter William S. Saturn?, De La Fuente discusses his personal background, his positions on political issues, his current campaign for president, and his political future.

Contents

  • 1 Interview
    • 1.1 Background
    • 1.2 Campaign
    • 1.3 Issues
    • 1.4 Future
  • 2 Related news
  • 3 Sources
  • 4 External link

categories Uncategorized | May 9, 2018 | comments Comments (0)

Four men go before Hungarian court after 71 found dead in lorry

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Four men go before Hungarian court after 71 found dead in lorry

Saturday, August 29, 2015

Four foreign men have today gone before a court in Hungary on suspicion of people smuggling. Their detention relates to Thursday’s discovery of a lorry full of corpses in Austria. The death toll was yesterday finalised at 71.

The lorry had been abandoned since Wednesday on the hard shoulder of the “Eastern Motorway”, near the Hungarian border. Roadworkers became suspicious of dark liquid seeping from the vehicle, and responding police found the bodies. Initial police estimates were that 20–50 were suffocated in the back of the lorry which was near Parndorf.

The arrested men are thought to include the vehicle’s owner and at least two drivers. Three are Bulgarian and one is from Afghanistan. Criminal suspects in Hungary can generally be held for 72 hours before charge but prosecutors, citing the seriousness of the case, want the period extended. Extradition to Austria is possible.

Of the 71 dead, 59 are men, eight are women, and four are children. The children are thought to be aged three, eight, and ten years, alongside an eighteen-month-old baby. “There was also a Syrian travel document found” police spokesman Hans Peter Doskozil told journalists “so of course our first assumption is that these people were migrants, and likely a group of Syrian migrants. We can rule out that they were Africans”.

The four accused were escorted into court in Kecskemet, central Hungary, by a police convoy. Reportedly the lorry traveled from Kecskemet. Hungary is presently building a border fence across the Serbian frontier, as migrants from war-torn Syria and other regions seek access to the Schengen Area of free movement, which covers most of the EU.

Slovak chicken meat company Hyza, a previous owner, previously told Wikinews the lorry has changed hands several times in roughly the last year. After they sold it they say it was exported to Hungary; it now bears Hungarian plates but still features Hyza branding including pictures of meat.

On the day of the discovery Hyza quickly removed a graphic from their homepage featuring cartoon chicken stowaways in a car being inspected at a customs post. The stowaways also appeared with a line through them alongside the word “imigranti” and the site www.imigranti.sk in one corner. On the other side was Hyza’s logo. Imigranti.sk is also unavailable.

Police today found 26 migrants in a lorry near Braunau am Inn, Austria. The driver, from Romania, refused to stop for police and was arrested following a chase. Police said three children were hospitalised for “severe dehydration”. Found near the German border, the migrants were from Afghanistan, Syria, and Bangladesh.

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Montreal lab questions ethics of recent EPO doping claims against Lance Armstrong

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Montreal lab questions ethics of recent EPO doping claims against Lance Armstrong

Friday, August 26, 2005

Dr. Christiane Ayotte is Doping Control director at Canada’s Institut National de la Recherché Scientifique, which is a World Anti-doping Agency (WADA) certified lab. Dr. Ayotte said on Tuesday (Aug. 23) that three ethically critical, and important, scientific questions were raised by a four-page doping allegation in the French cycling daily L’Équipe. L’Équipe released lab data with a medical identification allegedly finding banned EPO in five year old samples of cyclist Lance Armstrong’s urine, originally taken after he won the 1999 Tour de France.

Ayotte expressed surprise that chemical testing of 1999 urine could have been done in 2004 at the French national anti-doping laboratory at Châtenay-Malabry. She said that she routinely instructs all doping laboratory organizations that EPO deteriorates and disappears after two or three months, even if the urine is frozen. Ayotte does not question whether the new type of analysis is correct; rather she questions the ethics of long-delayed test results.

The first ethical problem , in her opinion, is that an adverse finding cannot be confirmed with second samples, as required by WADA regulations. She states that there are normally two samples, “A” and “B”. The Châtenay-Malabry EPO findings were based on Armstrong’s “B” samples. Armstrong’s “A” samples were depleted in 1999 for tests that did not include EPO, because no EPO test was available that year.

French Sports Minister Jean-François Lamour said that without the “A” samples, no disciplinary action could be taken against Armstrong.

The second ethical problem, in Ayotte’s view, is that an athlete charged with doping long after the athletic event has no way to submit to additional testing to disprove an adverse finding.

The third ethical problem for Ayotte is that L’Équipe disclosed Armstrong’s medical identity. “It seems to me,” Ayotte continued, “that this whole thing is breach of the WADA code. We are supposed to work confidentially until such time that we can confirm a result. By no means does this mean that we sweep a result under the carpet, but it has to meet a certain set of requirements.”

Ayotte continued, “I’m worried, because I have a great deal of respect for my colleagues in Paris. I am concerned that they did not cover their backs before being dragged into a very public issue of this kind.”

Lance Armstrong has responded on his website, branding L’Équipe’s reporting as being “nothing short of tabloid journalism.” Armstrong says: “I will simply restate what I have said many times: I have never taken performance[-]enhancing drugs.”

Further confusing public understanding of the EPO doping claim is Armstrong’s statement in his autobiography, It’s Not About the Bike: he said he received EPO during his cancer chemotherapy treatment. “It was the only thing that kept me alive,” he wrote.

Jean-Marie Leblanc, the director of the Tour de France, said that Armstrong owes cycling fans an explanation. Leblanc said; “For the first time—and these are no longer rumors, or insinuations, these are proven scientific facts—someone has shown me that in 1999, Armstrong had a banned substance called EPO in his body.”

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