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, September 27, 2013

On Tuesday the World Bank released the 2012 World Development Report on Gender Equality and Development. For Fiji, the report focused on progress being made in the country as it relates to gender roles and the local impact of the Convention on the Elimination of All Forms of Discrimination Against Women.

Girls from Fiji believe they can attain a university education. In contrast, boys from rural areas in Fiji generally do not believe they will stay in school past the primary level. The report attributes this to the need for boys to contribute to the family income. This pushes them out of school and into the workforce.

It also says girls have less free time than boys. Girls have specific household chores that limit their free time. Boys, in contrast, have fewer structured household tasks, and the tasks they do have require less time. Boys also have greater ability to leave the house than girls. The report says these differences play a role in defining gender roles. This can lead boys into engaging in bad behavior and increase their exposure to drugs and alcohol. The report says this pattern exists elsewhere in countries like Yemen, Sudan, Bhutan, India, the West Bank and Gaza Strip, Dominican Republic, Tanzania, Burkina Faso, Liberia, and Papua New Guinea. The report quotes a Fijian boy as saying, “Boys, they take their bikes and scoot off and roam around in villages here and there”.

Fijian girls are beginning to challenge these traditional cultural gender norms. While they acknowledge and admire the hard work their mothers have done in the domestic sphere, they seek better education and opportunities.

While the United Nations General Assembly adopted the Convention on the Elimination of All Forms of Discrimination against Women (CEDAW) in 1979, Fiji did not ratify it until August 1995. They were the 139th country to do so. At first, Fiji objected for cultural reasons to one part of CEDAW, and said Constitutional sections containing different rules for men and women on their ability to marry foreigners was incompatible with another part.

These objections were eventually dropped and constitutional changes were made between 1997 and 1999. CEDAW helped bring about family law reform in 1995. A civil uprising in 2000 stalled some iniatives, but the 2002 CEDAW review assisted in reviving efforts. In 2009, the minimum age allowed for both men and women to marry was raised to 18 years.

Since the introduction of CEDAW, reforms have been made that allowed for more equal partners, make divorces easier to get, make it harder for women to be excluded from the home, and improve the amount, and enforced the payment, of spousal support and following a divorce. The report notes that a 2010 review of CEDAW said there is still room for improvement in terms of inheritance rights for women.

Fiji has a population of 854,000, with an annual average percentage population growth of 0.6%. 31% of the population is aged 0 to 14. The average life expectancy for men is 67 years and for women is 71 years.

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.

Sunday, November 13, 2005

A 25 year old British man has been reported to have made a full recovery from the HIV virus . Andrew Stimpson did not take any drug treatments after being diagnosed with the virus in August 2002 and was found HIV negative in October 2003.

Stimpson’s two HIV tests were performed by the Chelsea and Westminster Healthcare NHS Trust. It has been reported that the hospital is standing by the validity of the two tests that have so far been performed. The hospital would like to perform additional tests that might reveal an explanation for the two contradictory test results. Tests used for diagnosis of HIV infection can produce false positive results. When this happens, additional testing is required in order to determine if there ever was an actual infection. Some news reports suggest that Stimpson may have had contact with someone known to be HIV-positive and that multiple HIV tests performed by a clinic all gave positive results for Stimpson before he was first tested by the Chelsea and Westminster hospital. However, Michael Hopkin of the British journal Nature, has reported that while Stimpson tested positive for antibodies to HIV in 2002, “tests done during more than two dozen visits in 2003 and 2004 proved negative for the antibodies”. This suggests that either HIV infection took an unusual course in Stimpson or the original test results indicating infection were a false positive.

Many similar cases have been reported in Africa, where the virus is widespread. Due to poor medical facilities all of these reports have been largely anecdotal—Mr Stimpson represents the first well documented case. However, until additional tests are performed it is impossible to know if the second test was a false negative. Dr. Andrew Grulich, who has a PhD in epidemiology and works at the National Centre in HIV Epidemiology and Clinical Research at the University of New South Wales has expressed doubt that Stimpson was cured of an HIV infection. In some infected patients, HIV levels can fall to undetectably low levels until their immune system is defeated and virus levels begin to rise.

This discovery may offer a promising new window into how the virus works and furthers hopes that one day a vaccine and/or cure will be found for the disease that is carried by around 35 million people worldwide.

Friday, September 9, 2005

New Orleans, Louisiana —After Category 4 storm Hurricane Katrina slammed into New Orleans, on the night before August 29, 2005, several flood control constructions failed. Much of the city flooded through the openings. One of these was the flood wall forming one side of the 17th Street Canal, near Lake Pontchartrain. The U.S. Army Corps of Engineers (USACE) is the primary agency for engineering support during such emergencies. A USACE team was assessing the situation in New Orleans on the 29th, water flow was stopped September 2nd, and the breach was closed on September 5th.

Tuesday, August 16, 2011

A new law which seeks to utilise reusable energy and minimise cost impact on consumers is under development in Japan. The new law, which would be effective from July 1 next year, would seek to reduce Japan’s dependency on nuclear power.

The new legislation would urge power utilities to cut costs by purchasing renewable energy from outside companies and private businesses. Japan’s decision has been referred to as opening the door on renewable energy, which currently only contributes to six percent of Japan’s energy sources.

Politicians have amended the bill, allowing the revised bill to pass through parliament later this month. Prime Minister Naoto Kan who is pushing for the bill to be passed in return for his resignation, has stated that the ‘feed-in-tariff on renewable energy will be set at a fixed price so that utilities are limited to purchasing electricity from renewable power generators. Kan hopes that this will encourage more business and private corporate partners to enter into the renewable energy market.

“As a medium-term revolutionary energy and environmental strategy, we have decided to start a thorough review of nuclear power policy and draw a roadmap for a reduction of the dependence on nuclear power” Mr Kan said.

Large companies are concerned about the new legislation as it will continue to affect profit margins which are low due to power shortages and high priced exports. The bill was changed to reduce the surcharge for large power companies after complaints from the Japanese steel industry. If the scheme is launched then consumers will face an increase on electricity bills as utilities can pass their costs onto end-users. Despite the governments promise to cap the surcharge for the next ten years, there is no reference to it in the revised bill.

Lawmakers hope that by adding a provision requiring utilities to streamline their operations, the impact on consumers will be minimized.

A third party group will be set up within the under the Agency for National Resources and Energy to ensure that the setting of fixed prices are fair and just.

Saturday, June 14, 2008

Buffalo, New York —Wikinews has learned that, in a surprising turn of events, the city of Buffalo located in New York, has ordered and begun an emergency demolition on a three story 19th century stable which partially collapsed on Wednesday June 11 causing at least five homes to be evacuated. Residents are not happy, and despite the short notice of the demolition, nearly 30 people showed up to protest it. Demolition was not supposed to begin until Monday June 16.

At about 2:30 p.m. (eastern time) on June 13, demolition crew arrived at the stable located at 428 Jersey Avenue and began to unload heavy equipment which will be used to demolish the building. This came as a surprise to residents, as demolition was not supposed to start until Monday June 16.

During the early afternoon hours on June 11, the Buffalo Fire Department was called to scene after residents called 9-1-1 stating that part of the building had collapsed. Material from the building fell into the yards of at least three neighboring houses. Some of the bricks landed inside the building, while some fell into the yards of some houses behind homes on Richmond Avenue, leaving a ‘V’ shape.

At about 3:30 p.m. crews began to demolish a small portion of the stable located behind Joe Murray’s home, a resident who lives behind a portion of the building on Jersey and Richmond avenues. While demolition was taking place, the section collapsed into Murray’s backyard, prompting a call to police. Some residents who own home surrounding the building were inside Murray’s house holding a neighborhood meeting when demolition began. No one was injured when the section collapsed.

“[The building] can come down any minute,” stated Donna Berry of the Buffalo Police Department who also added that when police arrived on scene, they immediately put a stop to demolition, fearing the safety of surrounding residents and pedestrians.

“So many [of the] people [living around the building] are at risk, it makes me want to cry,” added Berry.

Police, local politicians and area residents are concerned that demolition crews and the city are not taking the proper precautions to ensure the safety of residents during demolition.

“[There is] no protection for neighbors. [This is] appalling and beyond negligence,” stated Tim Tielman, Executive Director of the Campaign for Buffalo who was referring to the negligence of the demolition crew.

“[In order to stop demolition] citizens must demonstrate direct harm to themselves,” added Tielman.

The city’s preservation board held an emergency meeting on Thursday to discuss the issue. Wikinews has learned that the owner of the building, Bob Freudenheim, gave the city permission to demolish the building because he would not be “rehabilitating the building anytime soon.” Freudenheim was part-owner of the Hotel Lenox at 140 North Street in Buffalo and was also an advocate to stop the Elmwood Village Hotel from being built on the corners of Forest and Elmwood Avenues in 2006 and 2007, which Wikinews extensively covered. He also financially supported a lawsuit in an attempt to stop the hotel from being built. Though it is not known exactly how long Freudenheim has owned the stable, Wikinews has learned that he was the owner while fighting to stop the hotel from being built.

Tielman states that he was in contact with Freudenheim this morning. Tielman states that Freudenheim “is not spending a dime” to have the building renovated. Tielman states that Freudenheim has offered to sell the building to any interested party for only one US dollar, but that he “flip flops [his decision] constantly,” sometimes wanting hundreds of thousands of dollars for the building. Wikinews has attempted to contact Freudenheim, but so far has been unsuccessful.

City building inspectors were also on scene evaluating the building and ensuring the safety of residents. Donald Grezebielucina states that “some people are on notice to vacate their properties”, but also stated that no other precautions were being taken other than placing “tires and scaffolding” onto the side of 430 Jersey, which sits less than eight feet from the buildings East side.

“The gas has been shut off in case we lost the building, so there would be no explosions or anything like that. It’s so unstable, the structural integrity is gone. The chemical composite of the trusses has changed dramatically and dry rotted. There are three vehicles in the basement which totally disappeared,” stated Grezebielucina to the press while protesters yelled “save our building, save our neighborhood.”

Wikinews has also learned that local residents have consulted a lawyer regarding the issue, and hope to petition the New York State Supreme court to issue an injunction to stop demolition. They states that Freudenheim should be “100% responsible” for his actions, and many are afraid that once the building is demolished, Freudenheim’s charges of neglect will be abolished. Freudenheim is facing housing violations for neglecting the building. Though residents are fighting, Tielman states that “an injunction is unlikely.”

“We had a letter of violation against him. He was supposed to have started work to stabilize the brick this Monday. We all hope this building could be saved. But we’ve got five houses evacuated and we cannot tolerate any further delay. We’ve got to get people back into their homes in a safe condition,” said Richard Tobe, Commissioner of the city’s Permit and Inspection Services.

Demolition is set to resume at 8:00 a.m.in the morning of Saturday June 14.

Mike Lombardo, the Commissioner for the Buffalo Fire Department, believes that the building was built in 1812 or 1814, making it nearly 200 years old. It is one of only three stables still standing in the city.