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.

{{tasks|news|re-review}}Tuesday, January 9, 2018

On Monday, Democrats in the United States Senate announced they had gained enough sponsors to perform a congressional review of the Federal Communications Commission (FCC)’s December 2017 reversal of previous rules regulating Internet service providers, commonly called Net Neutrality.

Under the Congressional Review Act, if 30 senators co-sponsor the action, United States Congress can vote on whether to overrule a decision made by a federal agency such as the FCC. Both the House of Representatives and the Senate would have vote in favor, and President Donald Trump would have to sign the review.

On Monday, Claire McCaskill of Missouri announced she was the 30th senator to agree to sponsor the floor vote. “What I’ve heard from the thousands of Missourians who’ve contacted my office is simple — consumers should have protected, free, and open access to the online content of their choosing,” she said in a statement.

The Obama-era Net Neutrality rules were revoked last month. On December 14, as protesters gathered in Washington D.C., the United States Federal Communications Commission under Chairman Ajit Pai voted 3-2 to overturn the 2015 decision, which forbade Internet service providers (ISPs) such as Verizon, Comcast, and AT&T from blocking individual websites or charging websites or customers more for faster load times.

Specifically, the 2015 decision placed the Internet under Title II of the 1934 Telecommunications Act, which established that Internet access must be regulated under the same rules as a utility. Currently, in the U.S., telephones are regulated in this way, but cable television is not. Cable providers can offer bundled services and otherwise select which channels to offer customers; they do not have to offer access to every channel the way ISPs have offered access to the whole Internet. The new rules voted on December 14 transfer the Internet from the jurisdiction of the Federal Communications Commission to the Federal Trade Commission, which means instead of being forbidden from blocking websites or offering different access speeds, ISPs will only be required to disclose having done so.

Telecom analyst Gigi Sohn, who worked with Pai’s predecessor Tom Wheeler in 2015, said, “There are going to be fast lanes and slow lanes[…] As a consumer, that means some of your favorite websites are going to load more slowly, and it also may mean some of your favorite content goes away because the provider just can’t pay the fee.”

Former Etsy CEO Chad Dickerson said, “Net neutrality allowed something like Etsy to hang out a shingle on the web and give it a try”.

Supporters of the new rule argue Net Neutrality regulations were unnecessary. Commissioner Michael O’Reilly pointed out the Internet “has functioned without net neutrality rules for far longer than it has without [sic] them.”

“Quite simply, we are restoring the light-touch framework that has governed the internet for most of its existence,” said Chairman Pai, who argued removing the rules would make the Internet freer and more open.

“[T]he internet will continue to work tomorrow just as it always has,” promised AT&T Senior Executive Vice President Bob Quinn, who said his company would not block websites or discriminate with respect to content.

Opposition was organized almost immediately and was not limited to plans for congressional review: The Attorneys General for the states of New York and Washington have both announced plans for lawsuits against the new rules.. The United States Congress also has the authority to overrule the FCC’s decision by passing legislation. One such bill, House Resolution 4585, or the “Save Net Neutrality Act of 2017,” was introduced to the U.S. House of Representatives on December 7.

According to a poll conducted the week of December 6 by the University of Maryland, more than 80% of registered U.S. voters opposed the repeal of Net Neutrality, 75% of registered Republicans, 89% of registered Democrats, and 86% of independents, those not registered to either party. Before the vote, the FCC had accepted comments on the measure from the public through its website, FCC.gov. However, there have been allegations that many of the comments offered in support of the rollback were fakes. Before the vote took place, attorneys general from seventeen states and the District of Columbia sent a letter to the FCC asking the vote be delayed until the matter could be investigated.

The FCC’s decision must be published in the U.S. Federal Register before congressional review can take place or any lawsuits filed.

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Wednesday, February 6, 2008

In appearances before Congress on Wednesday, Defense Secretary Robert Gates and a top military official are expected to underscore decreased violence in Iraq. But they are likely to face strong questioning from lawmakers about ongoing war costs.

When President George W. Bush‘s budget for the 2009 fiscal year was sent to Congress this week, Secretary Gates defended the $515 billion request from the Pentagon.

In the overall figure, he noted, are billions of dollars to support U.S. military operations in Iraq and Afghanistan and the administration’s global war on terrorism. “A $70 billion emergency bridge fund that would cover war costs into the next calendar year,” he said.

The story behind that figure is the ongoing struggle between President Bush and the Democratic-controlled United States Congress over war funding.

Last year, the president asked for about $190 billion in a supplemental request outside the regular defense budget for war costs in the current 2008 fiscal year. The amount approved by Congress, just over $86 billion, left a large gap.

When Gates and military Joint Chiefs of Staff Chairman Admiral Michael Mullen appear before the House and Senate armed services committees, they will be pressed for harder cost projections, as Congress continues to assess the impact for the U.S. economy of the Iraq and Afghanistan conflicts.

White House Budget Director Jim Nussle was asked this week if the Bush administration has a realistic hope it can obtain its Pentagon regular budget and supplemental war funding requests from an opposition Congress. “It’s worth whatever we need to spend and we have made, I think, a very careful determination of what that is. So, I don’t believe it is just a negotiation point. I think it is what it takes for us to be safe, and to be the kind of super power that can maintain that safety,” he said.

Asked why budget figures do not appear to reflect a reduction in costs because of the eventual withdrawal of about 30,000 troops from Iraq to pre-military surge levels, expected to be complete later this year, Nussle would only refer reporters to the Pentagon.

And while the question of troop levels will be a key topic for lawmakers, in the context of questioning on the overall Pentagon budget, Gates may not provide much in the way of enlightenment.

Media reports quoting testimony prepared for the House and Senate hearings say he will point to what he calls significant variables weighing against making any realistic estimate of how much Congress may be asked for in the final year of the Bush administration.

Based on numerous supplemental requests for Iraq and Afghanistan in recent years, members of Congress expect the $70 billion bridge fund to be followed by additional requests to sustain U.S. forces.

As for the $100 billion or so in 2008 supplemental funds that has been held up by bickering between Capitol Hill and the White House, congressional Democrats are looking to testimony in April from the U.S. commander in Iraq, General David Petraeus.

That will provide Congress with an update on progress by Iraqi forces toward shouldering more of the security burden, what that means for U.S. troop numbers, and what Americans can expect to be paying as President Bush leaves office and a new administration takes over in 2009.

Saturday, August 6, 2016

Concerns about water quality at the 2016 Rio de Janeiro Olympic Games have expanded to include the inside training pool: top Australian swimming coach Michael Bohl moved his Olympic athletes from the main training pool on Thursday citing fear of infection.

The team had a pre-booked session in the training pool where they would have practiced uninterrupted. However, during the session the water in the pool turned, as Bohl described, “cloudy” and “soupy looking”. Concerned about his athletes’ health, he moved them from the training pool to the busier, but cleaner, main competition pool.

Bohl took his concerns to officials and was told the matter would be looked into.

This comes off the back of other water concerns in Rio, particularly in the Guanabara Bay venue for outdoor water events. An Associated Press-commissioned study found Rio’s Olympic waterways contained as much as 1.7 million times worse viral levels than the emergency threshold in Europe or the US. As a result, athletes were advised to keep their mouths closed and avoid putting their heads underwater or risk falling ill.

Swimming events at the 2016 Rio de Janeiro Olympic Games are to begin today.

Thursday, February 24, 2005

A paste containing synthetic tooth enamel can seal small cavities without drilling. Kazue Yamagishi and colleagues at the FAP Dental Institute in Tokyo say that the paste can repair small cavities in 15 minutes.

Currently, fillers don’t stick to such small cavities so dentists must drill bigger holes. Hydroxyapatite crystals, of which natural enamel is made, bond with teeth to repair tiny areas of damage.

Yamagishi and colleagues have tested their paste on a lower premolar tooth that showed early signs of decay. They found that the synthetic enamel merged with the natural enamel. The synthetic enamel also appears to make teeth stronger which will improve resistance to future decay. As with drilling, however, there is still the potential for pain: The paste is strongly acidic to encourage crystal growth and causes inflammation if it touches the gums.

The paste is reported in the journal Nature.

Monday, December 3, 2007

At Thanksgiving dinner David Shankbone told his white middle class family that he was to interview Reverend Al Sharpton that Saturday. The announcement caused an impassioned discussion about the civil rights leader’s work, the problems facing the black community and whether Sharpton helps or hurts his cause. Opinion was divided. “He’s an opportunist.” “He only stirs things up.” “Why do I always see his face when there’s a problem?”

Shankbone went to the National Action Network’s headquarters in Harlem with this Thanksgiving discussion to inform the conversation. Below is his interview with Al Sharpton on everything from Tawana Brawley, his purported feud with Barack Obama, criticism by influential African Americans such as Clarence Page, his experience running for President, to how he never expected he would see fifty (he is now 53). “People would say to me, ‘Now that I hear you, even if I disagree with you I don’t think you’re as bad as I thought,'” said Sharpton. “I would say, ‘Let me ask you a question: what was “bad as you thought”?’ And they couldn’t say. They don’t know why they think you’re bad, they just know you’re supposed to be bad because the right wing tells them you’re bad.”

Thursday, June 15, 2006

One hundred and twenty detainees at an immigration removal centre in Oxford, UK, are on hunger strike. The protest started when some detainees refused breakfast on Wednesday 14th June 2006. A letter from the hunger strikers explaining why they are seeking to draw attention to their plight in this way has been reproduced in full below.

Those detained at the centre are mostly men who have sought asylum in the UK and whose asylum applications have been rejected. These people are then held without knowing how long they will be detained for – some end up being held for many years while awaiting deportation.

The removal centre, known as Campsfield, or Campsfield House is approximately 5 miles north of Oxford and has been in operation since 1993. It was managed on behalf of the UK Government by Global Solutions Limited, until may 2006 when it was taken on by GEO UK, the centre has a capacity of 198. Only males are detained at Campsfield.

According to the campaign group Barbed Wire Britain Over 2,600 individuals, mostly asylum seekers, are detained indefinitely in the UK without trial and with no automatic right to bail.

There have been reports in the UK press of the state taking people to detention centres without notice, in the early hours of the morning using excessively heavy handed tactics, taking children out of schools and separating families.

Many UK people and politicians express their disgust at the way detainees are treated, yet it continues. Perhaps this action by the detainees themselves will further highlight their plight and result in more UK electors writing to their MPs and demanding improvements to the way in which rejected asylum seekers are treated.

“We are detainees at Campsfield removal centre in Oxford. Most of us have been here for a long while now. There are people who have been detained for up to two years and down to three months. We are cramped in here like animals. We are treated like animals and moved around different detention centres like animals. The immigration service have taken husbands from their families and taken people who ran away from persecution in their various countries, and dumped everyone in here.

Once you are put in here the immigration service forget you. There are detainees who have applied to go back to their own countries that are still being held here for months without any news about their cases, just so that the private security companies get more money.

Detainees are asked to seek asylum and then refused. The immigration service also ask detainees to apply for bail. When you get a bail hearing date all of a sudden they serve you with removal papers that are not valid. There are many of these situations. In most cases the immigration service don’t take you to your court hearings. And then they tell the judges you refused to turn up, just so the hearing goes ahead in your absence. Many detainees have been served with removal papers and travel documents but nothing happens on the removal day.

Campsfield has become a slave house. We detainees are treated like slaves, to do odd jobs for officers. Detainees are handcuffed to see doctors or dentists in hospitals or clinic appointments. We have some racist security officers who make racist comments to detainees and go out of their way to make you feel like committing suicide. Detainees have to be at the point of death before they get to see the doctors.

The food is not worth eating. Even dogs would refuse to eat what we eat. But we don’t have a choice; every single day we eat the same food (the food we eat is rice, chicken, sandwiches, and left-over eggs)”.

• “120 Immigration Detainees on Hunger Strike at Campsfield IRC” — Oxford Indymedia, June 14, 2006
• UK Home Office webpage on Campsfield
• Close Campsfield Campaign
• “Dawn raid furore family deported” — BBC, September 29, 2005
• Barbed Wire Britain
• “Asylum seekers on hunger strike” — BBC, July 14, 2005
• “Construction/Building Press Releases” — PR Newswire, Oct 01, 2005