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.

North Korea to send head of state to South Korea for Olympics

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North Korea to send head of state to South Korea for Olympics

Monday, February 5, 2018

Yesterday, North Korea announced head of state Kim Yong Nam is to attend ceremonies in Pyeongchang, South Korea, for the upcoming Winter Olympics. The proposed visit would make Kim the highest-ranking North Korean official to go to the South in several years.

The move comes after the two Koreas announced a unified team to play women’s ice hockey in the games and the North canceled a scheduled joint ceremonial display, opting instead for a military parade on their side of the Korean Demilitarized Zone.

Kim holds the title of President of the Presidium of the Supreme People’s Assembly of North Korea, a purely ceremonial role in the legislative body of North Korea. He is to head a 22-member delegation supplementing artists, athletes, coaches, and a cheer squad of over 200. The last time a high-ranking official visited the South was the 2014 Asian Games in Incheon when army leader and Workers’ Party’s Central Committee member Hwang Pyong So came to the closing ceremony. Hwang was purportedly the second most powerful man in North Korea behind supreme leader Kim Jong-un until he disappeared in late 2017.

South Korea’s Ministry of Unification announced the delegation after the unified Korean women’s ice hockey team lost to Sweden 3–1. The two nations plan to march together on February 9’s opening ceremony but the North canceled a joint cultural event, instead announcing a military parade for the day before. The allies are to hold annual joint military exercises after the Paralypmics which follow the Olympic Games.

Wood Panels For Interior Design

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By David H. Urmann

Wood panel beautifies the interior walls and floors. Choose among the many types of wood panels according to your preference. Learn more the different types of wood panels.

Wood paneling is a traditional method of creating a beautiful interior. Wood paneling has the characteristic of providing the aura of coziness and comfort to any home. It comes in many types depending on the type of wood used.

Wall panels are becoming an integral part of interior design. These are used for different purposes. Many business establishments use it to hide any electrical wiring and are excellent to decorate the interior of any room.

Portable wall panels are also used as a divider for offices or cubicles. Wall panels are commonly made of wood and sometimes combined with wallpaper or other textured materials to decorate it. For recording studios, a special wall panel is used which is capable of absorbing sound for better acoustics.

There are many types of wood paneling available in leading hardware. They vary in sizes, color and quality.

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Surface Types

The veneer finish wood panels are made of three plies such as the face, back and the core which is in the middle. Pre-finished wood veneers are the most expensive types. Some variants consist of grains to achieve an excellent finish. Less expensive wood panels does not have grains.

Vinyl coated type consists of different wood designs which are laminated into plywood. The designs are usually printed through photo process. This type of wood panel can be cleaned easily but must be treated with care to avoid scratches.

Surface printed is one of the less expensive types of wood panel and commonly used for DIY projects. It consists of wood grain finish by the use of state of the art photography. It is important to use specific cleaning substances for such materials to avoid damage to its finish and color.

Printed paper panel makes use of printed paper with various designs which is then laminated into wood to create a beautiful finish. This the ideal type for a low cost interior.

Backing types are generally available anywhere. They can be made of medium density fiberboard (MDF), hardwood or plywood. If you are short on your budget, you may opt to use hardwood. The expensive variants of wood panel are more tolerable from any moisture because it had been manufactured using various wood treatments.

Grooves are used for wood panel surfaces. This can either be real groves or the painted grooves. Real grooves are the best in quality which can be identified by visually inspecting it. Grooves which are straight and sharp are of high quality. Painted grooves are typically cheaper compared to real grooves.

Wood paneling is continuously gaining its popularity especially that there are more options which are being introduced by many leading manufacturers. More and more variety of wood panels is designed for Do It Yourself projects where you can easily install your own wood panel in your home.

Make sure that the walls are leveled and dry before installing to avoid moisture from building up and warping it. For concrete walls, it is important to do some sealing by using furring strips as a spacer to help evaporate any builds up of moisture. Even if you are going to use moisture resistant wood panels, you still need to do the first steps.

Wood paneling provides you a lot of options in designing your wall. It is also essential to do regular polishing to avoid moisture and help increase the durability of your wood panel. As long as you know how to take care of your wood panel, you will enjoy the benefit of its beauty for many years.

About the Author: For more information on Wood Paneling and Decorative Wall Paneling.Please visit our website.

Source: isnare.com

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New Jersey officials: Stimulus bill hurting Atlantic City casinos

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New Jersey officials: Stimulus bill hurting Atlantic City casinos

Sunday, March 29, 2009

A New Jersey congressman says restrictions on federal stimulus money are hurting gaming destinations like Atlantic City, and he is seeking to repeal a provision banning the use of funds for casinos or other gaming establishments.

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“The demonization of gaming destinations such as Las Vegas and Atlantic City for business travel is wrong, wrong, wrong,” U.S. Rep Frank LoBiondo said Friday during a press conference in front of Boardwalk Hall in Atlantic City.

The $787 billion federal stimulus bill passed in February specifically prohibits casinos from applying for funds for infrastructure improvements and other similar projects. LoBiondo said Atlantic City is losing millions of dollars in business as a result of that provision.

Casinos’ revenues dropped 19.2 percent in February 2009 month compared to February 2008, according to the New Jersey Casino Control Commission. LoBiondo said $160 million worth of business and 120,000 visitors have chosen other cities for their tourism plans due to the stimulus bill, according to Atlantic City Convention Center figures.

The administration also recently determined other groups like nonprofit organizations and local governments may not spend their stimulus money at casino properties. State officials said the rules are damaging a major pillar of the New Jersey economy.

“Are those jobs somehow less important or less meaningful than those in the manufacturing, retail or financial industries?” said Ken Calemmo, chairman-elect of the Greater Atlantic City Chamber.

Anti-gambling officials said the stimulus law does not prohibit casinos from taking advantage of tax breaks, and Atlantic City officials should not complain about the stimulus bill because the city is too reliant on an unreliable revenue stream.

“There isn’t a state, including New Jersey or Nevada, that could gamble themselves rich, any more than an individual could gamble themselves rich,” said Tom Grey, field director for StopPredatoryGambling.org. “They should’ve diversified (the economy) instead of chasing their loss.”

But Joe Kelly, chamber president, said 35,000 people work at New Jersey casinos, and thousands more around the state work for outside vendors that depend on casinos for their business.

“It is not just an Atlantic County issue. It is not just a Cape May issue,” Kelly said. “There’s purchasing done by every county.”

LoBiondo is working to repeal the provision with U.S. Rep Shelly Berkley, co-chair of the Congressional Gaming Cascus, and has reached out to Senate Majority Leader Harry Reid, who has a history of representing the interests of the gaming industry.

Migrant workers in Dominos Pizza ‘slavery’

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Migrant workers in Dominos Pizza ‘slavery’
May 5th, 2018 in Uncategorized | No Comments

Friday, August 10, 2007

Eight Hungarian migrant workers sacked from a Domino’s Pizza franchise in Derby, England are said to have taken home virtually no pay for months because of illegal deductions.

The claim is refuted by the company who said in a statement “We have begun a thorough investigation during which we have scrutinised the franchisee’s employment practices. This took place with his full co-operation. The franchisee concerned is confident that he possesses the evidence required to refute these allegations. To the extent that we have been informed of all allegations and have reviewed all available evidence, we also believe this to be the case.”

The sacked workers are being supported in their claim by the workers union Unite. The union say the “there appeared to be a deliberate strategy of keeping the workers in debt to the company through a series of crippling deductions. The deductions included payments to cover the contract purchase of a car from their employer, insurance for the vehicle provided through their employer, and exorbitant rent for substandard accommodation, again provided through their employer. In addition, some workers had to pay fees of up to £180 for an “introduction” to the company. One worker earned just £5 in four months because of the constant and hefty deductions out of his wage packet. When the workers protested they were sacked.”

Canberra’s Sophie Lavers crowned Miss World Australia

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Canberra’s Sophie Lavers crowned Miss World Australia
May 4th, 2018 in Uncategorized | No Comments

Thursday, July 23, 2009

Sophie Lavers, a 24-year-old woman from Canberra, has been crowned Miss World Australia in Sydney. She defeated nineteen other finalists to take the prize and will represent Australia at the Miss World event in South Africa.

The entrants were judged based on several categories including best talent, healthy body image, sports and fitness and beauty with a purpose. An aspiring actress, she is completing an acting course and hopes to build a career in film and television. She is also a qualified fitness instructor and has worked as a Kings Cross waitress.

She has been described in the media as having an “amazing figure” and it has been rumoured that she has used this for modelling work. However, Lavers has said that her body has only been modelled for a good cause: “Some do think that, but I have only ever modelled for charity.”

She also doubts much will change for her, at least in the near future. “I’ll still get up and probably have peanut butter on toast for breakfast but after that I’m not sure what’s happening. I guess I won’t be going to work tomorrow.”

She explained that all the girls who entered were dedicated to making a difference. “I just think it’s like having little angels out there through the country helping in all different areas whether it’s with children, or blind people, or the homeless.” Lavers also complained that non-stop smiling for the event has left here mouth sore. “I’m not used to smiling for hours on end.”

Lavers is now set to head to Johannesburg for the December 12 global competition. “I’ve got to get a month of outfits ready and get a talent and another speech and everything. Oh goodness.”

200 candles: Chileans celebrate country’s Bicentennial

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200 candles: Chileans celebrate country’s Bicentennial
May 4th, 2018 in Uncategorized | No Comments

Saturday, September 18, 2010

Chile is celebrating its Bicentennial, with several events that have been organized by the government for almost a decade. It commemorates two hundred years since the First Government Junta of 1810 was formed, starting the Independence process, that ended in 1818 after Bernardo O’Higgins proclaimed it.

The Bicentennial takes place on a holiday from September 17th until 21st. Sebastián Piñera inaugurated the official fondas (places where typical food and drinks of Chile are sold; similar to a tavern) earlier on Friday. Piñera also danced a “pie” of Cueca, Chile’s national dance, with Government Spokeswoman Ena Von Baer.

More than 60 thousand people gathered on Plaza de la Ciudadanía (Citizen’s Square) in Santiago to celebrate the Bicentennial. There was a projection of historical images that also contained a message from the trapped miners in Copiapó. A giant flag of Chile (18 meters of height, 27 of width; weighing 200 kilograms) was raised on the square on Friday morning.

Celebrations of the Bicentennial in Pichilemu started earlier this month. On September 2, two thousand people lined up in a formation to create the message “Viva Chile Bicentenario Cardenal Caro” on Pichilemu beach “Las Terrazas”. The message was used to create a postal stamp to be released worldwide. The event was promoted by the Government of Cardenal Caro Province.

Private schools in the city, such as Colegio Preciosa Sangre, prepared events specially for their students. On Thursday, “Fonda Don Vicente Nario” was opened on Preciosa Sangre. Several games were performed there on that morning, including “el emboque”, “ponerle la cola al burro” (to put the tail to the donkey), and others.

Another event on Preciosa Sangre took place on Thursday night, when students recreated scenes of the History of Chile, including: a tertulia featuring Manuel Montt (starred by Luis Rojas); a chingana (a popular tavern); and selected colonial professions, such as the “motero” (person who sold motemei and chestnuts).

The official fonda of Pichilemu, La Bombonera, was inaugurated on Thursday night by Mayor Roberto Córdova, who danced cueca with people who attended the event. According to Córdova, at least 30,000 people have arrived at Pichilemu as of Friday, and it is estimated that another 30,000 will arrive during the next three days.

A great event took place on Pichilemu beach on Friday afternoon. Chilean typical games highlighted the event. People danced reggaeton, Américo’s cumbias and cuecas, while others were swimming. The National Shoe Fair (Feria Nacional del Calzado) was established on Agustín Ross Hotel on Thursday, and will stay in the town until September 23rd. Alicia Grez, who works on a kiosk in the Pichileminian Craft Fair located in front of One Discotheque, said that “sales have been excellent,” and that “[they] won’t miss the possibility to experience such an event like this.”

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File:Parque bicentenario.JPG

Postcard released by the Chilean Government in 1910. At the top, from left to right: José Miguel Carrera, José de San Martín, Bernardo O’Higgins, Lord Thomas Cochrane, and Manuel Rodríguez. At the bottom, from left to right: Manuel Vicuña, Manuel Blanco Encalada, José Manuel Balmaceda and Pedro Montt.

Official poster of the Centennial of Chile.

Official plans for the Centennial of Chile, in 1910. Pedro Montt is pictured at the top, and Bernardo O’Higgins at the bottom. Image: Memoria Chilena.

Man killed in harbour car crash in Cornwall, England

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Man killed in harbour car crash in Cornwall, England
May 4th, 2018 in Uncategorized | No Comments

Monday, December 21, 2009

A man has been killed after a car accident in Cornwall, England. The collision involved a vehicle driving off a quay in Porthleven, near the town of Helston in the county and into the sea at around 2100 Greenwich Mean Time on Friday, according to reports from members of the public made to the police and the coastguard.

A major rescue operation was launched with contributions from the harbourmaster, the ambulance service, the police, the fire crews, a helicopter and the Royal National Lifeboat Institution. After roughly two hours, a harbour crane lifted the vehicle out of the water that it had crashed into. It transpired that the man was the only occupant of the vehicle. It is believed that no other vehicles were involved in the incident. The man was taken to the Royal Cornwall Hospital, which is situated in Truro, by ambulance. However, on arrival, he was pronounced dead.

Now tributes are being paid to 20-year-old Jamie Hocking after his death. The family of the man have said that he will be “truly missed by all who knew him”, describing Jamie with the words “loveable rogue”. The family also expressed their thanks to people offering sympathy messages and support from others, as well as the emergency services who assisted at the scene of the accident. Devon and Cornwall Constabulary are now asking any people who know of any information relating to the incident to contact them as soon as possible.

Understanding Betfair Rakeback Programs

May 3rd, 2018 in Amusement Park | No Comments

byAlma Abell

Every online casino affiliate providing rakeback offers slightly different programs to players. When it comes to Betfair rakeback programs they are actually not considered rakeback by the casino but rather they are known as the VIP Cashback program.

Regardless of the specific name of the program Betfair rakeback provides players with an additional reward with every game played. You do need to have a membership to earn the rewards, but your membership is secure and you have the option to create your own unique login and password. All online casino sites, especially top sites like Betfair, use the latest in online encryption to ensure that you information is safe and secure and their systems are at or above industry standards for you protection.

What Is Rakeback or VIP Cashback?

Although some players assume that Betfair rakeback is actually like a comp program, there are some differences. Stop and consider the difference between traditional casino games and poker. In those games you are betting against the house, so the house has the chance for substantial earnings on each wager.

However, in the case of online or in-house poker players are wagering against in each other and not the house. This leaves the casino without the chance to earn money, so to offset this they keep a small percentage of the total wager on each game, which is called the rake.

Betfair rakeback, like all other rakeback programs, is a reward program that allocates some of that rake back to the players. In the case of the Betfair system this can be as much as 40% of what you pay to the rake each month.

The Process

To be eligible for the Betfair rakeback all you need to do is take out a membership in the Betfair casino and you will automatically be enrolled in their Loyalty Program.They just register your account for Betfair rakeback. When you play poker at the casino the rakeback is automatically applied to your account based on your wagers and is provided to you in the form of player points.

You can then notify the casino and change your player points into store points which can be used to buy items offered through the casino or you can also convert points into cash value to add to your bankroll. Keep in mind that the monthly Betfair rakeback is automatically applied to your account and all you have to do is play at the casino to enjoy the benefits.

Quad crash kills fourteen year-old in County Londonderry, Northern Ireland

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Quad crash kills fourteen year-old in County Londonderry, Northern Ireland
May 3rd, 2018 in Uncategorized | No Comments

Saturday, November 21, 2009

A 14-year-old boy has been killed in an accident involving a quad bike in County Londonderry, Northern Ireland. The boy has been identified as Paddy McErlean, who crashed near his house in the town of Maghera.

What is believed to have happened is that Paddy was travelling on an all-terrain vehicle with a 16-year-old boy along a rural road at around 2200 GMT on Thursday when the vehicle smashed into a post, the boys were then thrown from the road. The 16-year-old boy is critically injured and as of yet has not been identified.

Ann Scott, who is the head teacher in St. Patrick’s College, which is the high school that Paddy attended, said: “This tragic accident really has brought a profound sense of loss to the school. The loss of Paddy, who was only 14, has just shocked everybody at the college. He really contributed a lot to the school, he was full of life, he was such a lovely young lad, very popular with the staff and pupils and we will really miss him so terribly.”