Sunday, September 6, 2009

24-year-old Aman Kassaye, of no fixed abode, is to face a charge of attempted murder for his alleged role in an armed robbery that netted £40 million ($65 million) worth of jewelry from a London store.

Kassaye is the seventh man to be charged, and is also facing prosecution for conspiracy to rob the Graff store in New Bond Street, false imprisonment, and using a handgun to resist arrest. He will appear at Wimbledon magistrates court on Monday.

The other six men have already been remanded in custody until October 23, when they will appear at Kingston Crown Court. All are facing charges of conspiracy to rob, and two of them are also charged with a firearms offense.

43 diamond rings, watches, and bracelets were taken from the store. The theft occurred when two armed and suited men walked in and took an employee hostage. It has been reported they used prosthetic masks made from liquid latex but police have not confirmed this. Amateur footage also shows a shot was fired. No-one was injured.

The robbery is one of the biggest the United Kingdom has seen. After the crime a string of getaway vehicles was used, with police believing several more offenders assisted with this stage of the plan. Although The Telegraph claims no stolen property has yet been recovered, this is also unconfirmed by police.

Friday, November 9, 2007

Chemists from the University of Delaware, Newark, in collaboration with the University of Wisconsin-Madison, recently reported their preparation of a complex containing two chromium atoms connected by the shortest ever metal-metal bond, 1.8028 Å (0.2 nm) long. 1 Å is 1×10^?10 meters or 1/10,000,000,000 meters. The scientists, including Prof. Klaus H. Theopold and graduate student Kevin A. Kreisel, believe the compound contains a quintuple bond, i.e., five bonds between the two chromium atoms.

In general, shorter bonds containing more electrons will be stronger. Although single, double and triple bonds occur in nature, quadruple and quintuple bonds have so far only been found in the laboratory. The first compound with a quintuple bond was reported in 2005.

To make the complex, the scientists first reacted chromium chloride with a bis(2,6-diisopropylphenyl)diazadiene ligand, which has the structure Ar-N=C-C=N-Ar (Ar is a bulky aryl group). This intermediate dark-green compound was then reduced using KC₈ (potassium metal in graphite) to give the unusual product. The compound crystallises from ether as red/green plates. The quintuple bond between the metals is weakened by some mixing in from antibonding orbitals, reducing the overall bond order to around 4.28. The bond length is 0.026 Å shorter than the previous record, a dichromium complex reported in 1978 by F. Albert Cotton and coworkers, which featured a quadruple bond 1.828 Å long.

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Due to the damage by Hurricane Katrina and subsequent flooding, a number of colleges and universities in the New Orleans metropolitan area will not be able to hold classes for the fall 2005 semester. It is estimated that 75,000 to 100,000 students have been displaced. [1]. In response, institutions across the United States and Canada are offering late registration for displaced students so that their academic progress is not unduly delayed. Some are offering free or reduced admission to displaced students. At some universities, especially state universities, this offer is limited to residents of the area.

Sunday, June 26, 2005

The median house price in the United States plunged 6.5% in May to $217,000. In February of 2005, the median price of a home was $237,300.

The Economist newspaper said in its June 16th issue; “In other words, it looks like the biggest bubble in history.” by way of reference to what is happening with housing prices in the USA and much of Europe.

Japan provides an example of how a boom can turn to bust. Property prices have dropped for 14 years in a row (40% from their peak in 1991); and yet, the rise in prices in Japan during the decade before 1991 was less than the increase over the past ten years in most of today’s “housing boom” countries.

The total value of residential property rose by more than $30 trillion over the past five years in developed economies, an increase equivalent to 100% of the combined GDPs of those countries. This increase dwarfs all previous house-price booms and is greater than the global stockmarket bubble in the late 1990s. Much of the recent housing activity is being driven by speculative demand. The National Association of Realtors (NAR) reported that 23% of all American houses bought in 2004 were for investment, not for owners to live in. Another 13% were bought as second homes. NAR also found that 42% of all first-time buyers made no down-payment on their home purchase last year.

Many investors are buying solely because they think prices will keep rising, which is a warning sign of a financial bubble. In Miami, Florida, as many as half of the original buyers resell new apartments even before they are built, and properties can change hands two or three times before somebody finally moves in.

Britain’s Royal Institution of Chartered Surveyors (RICS) reported prices have been falling for ten consecutive months. Forty nine percent of their surveyors reported falling prices in May. This was the weakest report since 1992 during Britain’s previous house-price bust.

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.