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.

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  • Greek film director Yannis Dalianides dies at age 87

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    Greek film director Yannis Dalianides dies at age 87

    Sunday, October 17, 2010

    Yannis Dalianides, a Greek film director who worked on over 60 movies, has died at the age of 87. Dalianides died after spending a month in hospital. He was known as the “godfather” of the Greek musical and the “Gentle Knight of Popular Cinema”.

    Born in 1923, Dalianides was placed in a children’s home until he was adopted. He made his first appearance in children’s theatre at the age of 10. He studied at the Drama School of the Thessaloniki Conservatory, before moving to Vienna and studying dance. Dalianides tried choreography before turning to cinema.

    After appearing as an actor he directed his first film in 1959, titled, Mousitsa (The Temptress). He continued to have success with films such as Some Like It Cold, Downhill, and Training Old Man Yorgis. From 1961 to 1977, Dalianides worked exclusively for the Fino’s Film Company. Dalianides is credited with the introduction of the musical into Greece but preferred the term “musical comedy”.

    Dalianides worked into his seventies. His last project was Mikres Amarties, a television series made in 1999. Dalianides funeral will take place on Monday; he will be buried at Athens’ First Cemetery.

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    Interview with Ton Roosendaal about Elephants Dream and free content movies

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    Interview with Ton Roosendaal about Elephants Dream and free content movies
    Posted in Uncategorized | August 15th, 2022

    Sunday, May 21, 2006

    Three days after the Internet release of the free content 3D short Elephants Dream (see Wikinews coverage), we exchanged e-mails with Ton Roosendaal about the reaction to the film, open source filmmaking, and the changes to Blender that resulted from the production. Ton Roosendaal is the lead developer of the Blender 3D rendering and modelling software that was used for the movie. He is also the chairman of the Blender Foundation, a non-profit organization which was formed in support of the software and projects like Elephants Dream.

    How much money did the Blender Foundation spend on producing the movie? Has the money been fully recouped by DVD orders and donations?

    We still have to finish the final bookkeeping for this project. It has been executed in co-production with the Netherlands Media Art Institute, and we each had our own internal budgeting for the project. When you exclude expenses of pre-production and producer personnel, the total budget was about 120,000 €, of which we covered half. Our contribution was roughly covered half by the DVD sales, and half by European Union support (http://www.uni-verse.org consortium).

    One of the most common criticisms of CGI films is focus on technology over content. For instance, Final Fantasy: The Spirits Within flopped with audiences, in spite of being an undisputed technical milestone. I’ve seen many reviews that criticized the plot of “Elephants Dream” as too bizarre or confusing. In retrospect, are you happy with the story development process?

    Haha, I knew the story and plot would get a mixed acclaim. There’s a couple of reasons I’d like to mention for it.

    First of all; the criticism resembles how people witness Blender itself, too. Many people expect that Free Software is an easy accessible mass audience product. We get a lot of complaints by non-artists that they can’t get into the software easily, whilst the complexity of commercial products like Maya or Houdini is perceived as a confirmation of its “quality”. Apparently an Open Movie created similar expectations with the audience.

    Luckily we also got many positive reviews of the artistic result of the movie. It is quite abstract, but definitely has many layers of information, inspiring many of the viewers to see relevant real life messages hidden here.

    For this project we’ve teamed up with the Netherlands Media Art Institute, internationally renowned as a resource for video art. So for Elephants Dream, we’ve had the luxury to challenge ourselves to create real independent artistic content as well. The artists had a lot of freedom from the start; they were responsible for the concept, story and creative development of the entire movie. This has resulted in a lot of quite personal choices, based on what the artists liked to do themselves. I really cherish such an approach, it has resulted in a very motivated team working crazy hours the last months to get it all realized.

    But, most importantly; the main target of our project was not only to create a 3D movie short, but to experiment with ways to improve the efficiency and quality of open source development. On this aspect only, this project was just a huge success, and the main reason for our sponsors (the DVD pre-sale) to support it. I know they might have liked a cartoonish funny movie with furry animals better, but for that you get already pretty well served by the bigger 3D animation studios. 🙂

    I’m the first to admit that – looking back especially – certain aspects worked out quite weakly; there’s loose ends and questionable decisions, especially in story development and continuity. That’s just the risk of doing experiments, and nothing I regret really. The five artists from our user community who were invited to make the movie were young people with no professional background in filmmaking. Their personal incentive to participate in this project was also to learn from it, and to create a good portfolio for their future career. I’ve witnessed them grow in competence in the past year enormously, something I’m incredibly proud of.

    On the technical level, the only major criticism I’ve seen of “Elephants Dream” is the character animation, especially in the opening scene — many reviewers felt that the movements seemed a bit unnatural. Do you agree with these criticisms? If so, what do you think can be done to improve on that level?

    Yeah, the challenge the artists set themselves – to use quite realistic personages – is also something that easily works against you. In many animation movies they introduce characters in the beginning in a way you get used to their specific characteristic movements, so you accept a certain level of non-realism easily. (Check the weird walk cycles in The Incredibles for example). Another aspect is that we’ve started work on the first scenes, and ended with the last scenes. I can clearly see the animation quality increase, and that whilst the ending scenes were done in much less time due to time constraints.

    We also didn’t schedule to do 9.5 minutes of animation either…. Originally it was more like 6. But, it’s always easier to look back to define the right decisions, eh? 🙂

    I’m very happy with the reviews we got so far; luckily the movie was perceived as a professional quality product, and reviewed based on comparisons with what the big studios come up with. Even when we couldn’t satisfy all these quality demands, it has luckily not been branded as a pathetic presumptuous attempt by amateurs!

    Do you think there is hope for a full-length open movie project in the near future? Would the Blender Foundation be interested in such a project, or do you intend to continue focusing mainly on shorts?

    I’d like to wait a little while with defining what a next project would look like. Given the constraints of “organizing projects to improve open source development”, we might have not much choice either. It would probably mean to work with a new team each time, so most likely be based on shorts only. On the other hand, there’s also clear signals that this approach works well, and creates excitement and involvement of a lot of people, also from producers and sponsors. That might enable us to set up a next project based on larger targets. For a full-length feature film however, we should involve a sufficient amount of experienced film makers as well, and/or invite the first team to participate again. That would put a lot of pressure on the required budget…. You can’t do that based on a 1000 DVD pre-sale target. Would more be like 20,000 or so…. 🙂

    How did the process of making the movie feed back into the development of Blender? Are there major technical changes that were made only or primarily because of the film?

    Already during the pre-production phase the artists have defined the key targets for Blender development. This then was coordinated with the online development community too. I’ve done the most crucial (re-)development mostly myself, though. Especially on the character animation tools, on the rendering pipeline and compositing tools.

    It is especially the latter I’m most satisfied with. In 3D movie production the compositing stage creates a giant content bottleneck. By transparently integrating this in our render-pipeline, a very efficient workflow has been achieved. And, not to forget, Blender now also offers the first production-level open source compositor on the market!

    The current summary you can find in our work-in-progress release notes.

    What are the key technical features in Blender you want to add or improve for future movie projects?

    Depends on what the movie is about! There’s always hundreds of features you can work on. However, we’ll have to work on that anyway, movie project or not. There’s a lot of professionals using Blender now, and they can’t wait for the Blender Foundation to do movies! Look at this studio for example:http://www.plumiferos.com/

    I read that at least one proprietary software package, Reaktor, was used for the sound effects. Is this because no equivalent free software solution exists yet? Will future projects have a “free software only” policy?

    We’ve limited the “Open Source tools” requirement to our own Studio Orange only. That was what we could keep in control at least, and I can tell you it was not always easy even… 🙂

    For sound and music we’ve decided from the beginning to seek an external sponsor. We have chosen to work with the best quality studio and composer we could find, preferably using open source, but not as a prerequisite.

    My own competence is solely within the CG [computer graphics, Ed.] side of movie making. When it comes to music editing, or video encoding and DVD authoring, I could only decide to choose to work with external parties with proven competences in that area. I have to be practical in projects like this, especially to ensure it will be realized.

    Hopefully, now we’ve got so much attention world wide, we can involve more non-CG open source next time, too. I will definitely strive for the maximum here, but it will fully depend on the amount of professional support we can get.

    Blender itself was originally closed source freeware, until it was “liberated” through a fundraising campaign. If you could choose one proprietary application to “set free” where such a goal could be realistically achieved, which one would it be?

    Well, the “realistically achieved” demand makes it quite difficult. 🙂 Looking back at similar cases, like Mozilla and OpenOffice.org, it was always very circumstantial. It just happens sometimes, you can’t organize something like this to happen in advance. The only common denominator is “a company in troubles”… so, who’s in trouble now?

    What is your personal favorite computer-animated full-length film?

    Uuuh… that differs every week! Probably Ice Age (the first one). Mostly because they didn’t overdo showcasing 3D technology so much, but created truly adorable characters and great funny gags.

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    Products Used By Plumbers In Plumbing Services

    Posted in Management Software | August 13th, 2022

    By Adriana J. Noton

    Today, plumbers use a wide variety of products when servicing a plumbing system. Each product they use provide a specific service to help resolve a plumbing problem, whether it is residential plumbing service or business plumbing service. Below is a list of some of the products used by plumbers in plumbing services:

    Pipe Thread Sealants: A common product used by plumbers, pipe thread sealants are used to fill gaps in threaded fittings and pipes. They are also used to lubricate pipes and fittings when pipes are being put together. It ensures a tight fit to prevent leakage.

    Eco-friendly Drain Cleaners: Due to environmental concerns, more plumbers are using eco-friendly drain cleaners instead of harsh corrosive chemical drain cleaners. Natural drain cleaners are powerful and safe for the environment. They do not damage pipes or kill bacteria in the septic tank. They are also safe for the environment.

    [youtube]http://www.youtube.com/watch?v=jLHkEu3HRK4[/youtube]

    Bacteria Cleaning Drain Products: These safe products help clear debris from the drain lines and live in the septic tank where they digest waste. They are safe for the environment. They can be added to drains or flushed down the toilet. The bacterial enzymes break down and digest waste. The bacteria are vegetative microbes that will digest and break down clogs. They are effective at eliminating foul odours and eliminating organic matter that has accumulated in the sewer line.

    Leak Detection Dyes: Sometimes it can be difficult locating a leak, particularly toilet leaks. Leak detection dyes are not harmful to the environment. If you have a silent toilet leak, a leak detection dye can help you confirm the leak.

    Natural Urinal Blocks: Many plumbers will use natural urinal blocks as they are effective at eliminating calcium build up in the drain line and they are safe for the environment. Natural urinal blocks eliminate nasty smells, clean the drains, and help the water flow normally. It is a safe product that will not cause damage to the plumbing system.

    Plumber’s Tape: Another product used is plumber’s tape or Teflon tape. This stretch and durable tape is used to seal pipe connections and it can be used to stop oil line leaks and gas line leaks. This tape provides a secure and tight fit when it is wrapped close to the threads. Yellow Teflon tape is used for iron pipe fittings. Green Teflon tape is used for copper pipes.

    Water Softener: This product is used to treat hard water. There are no harmful chemicals and the process involves replacing the minerals in the water that is causing hard water. Water softeners are also called calcium removers as they dissolve sediments like calcium so that they will wash out of the system.

    Plumbers not only have the knowledge, tools, and equipment to repair a wide variety of plumbing problems, they also use a comprehensive collection of products to make sure the problem is repaired and the plumbing system remains operating efficiently. When you hire a professional plumber, you are getting an expert with effective plumbing products.

    About the Author: Mr.Rooter plumber Etobicoke and drains Etobicoke services are recognized as one of the leading plumbing service experts in Canada. Highly trained and professional plumbing technicians, Mr.Rooter the leader in residential and commercial plumbing.

    Source: isnare.com

    Permanent Link: isnare.com/?aid=993216&ca=Home+Management

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    Cadbury’s recall over 1 million chocolate bars over salmonella fears

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    Cadbury’s recall over 1 million chocolate bars over salmonella fears
    Posted in Uncategorized | August 13th, 2022

    Friday, June 23, 2006

    The British confectioner Cadbury’s has recalled over one million chocolate bars from retailers in the UK and Ireland over fears that they may be affected by salmonella. The company is stressing that it is only a precautionary measure, and that customers should not be concerned if they have eaten one of the bars.

    The bars affected are the Dairy Milk Turkish 250g, Dairy Milk Caramel, Dairy Milk Mint bars, Dairy Milk 8 chunk, Dairy Milk 1kg bar, Dairy Milk Buttons Easter Egg 105g and 10p Freddo bar. Uneaten products can be returned to ‘Cadbury Recall, Freepost MID20061, Birmingham B3O 2QZ’, and then a full refund will be given. Customers can also call 0800 818181 if they are concerned.

    Cadbury has said that it expects to have fresh stocks of the products back on the market in the near future.

    The decision was made in consultation with the Food Standards Agency.

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    U.S. superbug expected to emerge in Canada

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    U.S. superbug expected to emerge in Canada
    Posted in Uncategorized | August 13th, 2022

    Wednesday, January 3, 2007

    An infectious superbug spreading in the United States is to “emerge in force” in Canada, doctors fear. The bacteria have been reported popping up in day care centers and locker rooms across the U.S. Usually elderly or very ill hospital patients get the disease.

    More than 2 million U.S. residents are infected every year, the Centers for Disease Control estimates.

    An article in the Canadian Medical Association Journal (CMAJ) on Tuesday said that Methicillin-resistant Staphylococcus aureus (MRSA) are “spreading with alarming rapidity.” The bacteria can cause boils, pimples, or in extreme cases, flesh-eating disease, and more.

    “The resistant bacteria is an old foe with new fangs: a pathogen combining virulence, resistance and an ability to disseminate at large,” wrote Dr. John Conly, medical professor and an infectious disease specialist at the University of Calgary.

    British Columbia, Alberta, Saskatchewan, Manitoba, and Ontario are the provinces which already have had MRSA in hospitals.

    A 30-year-old Calgary, Alberta man died last year of lung abscesses associated with the infection, as well as a three-month old toddler in Toronto, Ontario.

    Toronto Blue Jays outfielder Alex Rios, last summer, suffered from an infection caused by Staphylococcus aureus in his leg. Pitcher Ty Taubenheim had a similar infection on his foot.

    Doctors are currently investigating some Calgary residents, who could be one of the first Canadian reports of MRSA outside of a hospital setting.

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    Avalanche in Canadian Rocky Mountains kills two

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    Avalanche in Canadian Rocky Mountains kills two
    Posted in Uncategorized | August 11th, 2022

    Sunday, March 14, 2010

    Two people in the Canadian Rocky Mountains were killed yesterday in an avalanche that struck an informal meeting of 200 snowmobilers. 30 others were hurt, and nineteen people were treated and released at a hospital.

    According to reports, the incident occurred on Boulder Mountain near Revelstoke, British Columbia on Saturday at 15.30 local time; officials believe several more people may be trapped beneath the rubble.

    “The Canadian Avalanche Centre [CAC] based in Revelstoke has had a warning for the last three weeks expressing extreme caution in the backcountry,” commented Revelstoke mayor David Raven, who noted that the gathering had not been authorised. “A fresh snowfall overnight exacerbated that warning. I know people have been cautioned again and again,” he said to CTV Newsnet. The CAC reports that there were ten avalanches in the vicinity since Friday.

    Local police conducted a room-to-room search of a nearby hotel to establish whether anybody with the group was missing. Meanwhile, rescue teams dispatched helicopters to the mountain to see if it was safe to launch a more thorough ground search.

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    The Qualifications And Experience An Eye Doctor Needs

    Posted in School | August 11th, 2022

    When selecting an eye doctor, numerous factors need consideration. Your sight is vital to your quality of life. By visiting this professional at least one time per year, you are taking steps to maintain it and potentially to prevent loss of it. The health care provider you select for this responsibility needs to be someone you feel comfortable working with on a regular basis. He or she should be someone with the qualifications and experience to help you to trust in the information provided. Not just any practitioner is good enough.The Key Qualifications to Look ForAn eye doctor should be able to provide you with a list of credentials that showcase his or her abilities to provide service to you. You should ask for them. Ultimately, you want to ensure this provider has the ability to diagnosis, treat, and even prevent any type of health conditions related to your optical health.The two most common types of providers are ophthalmologists and optometrists. Both should have certifications and licensing to operate in your state as these positions. The education obtained should be from an accredited school for these programs. The state board of optometry or state medical board will hold these licenses for you to verify. It should be for the current year. In addition, if you are working with an ophthalmologist, this person should have an internship and residency experience. This is part of their training and development.ExperienceConsider the experience the provider has too. If you are looking for a provider who will work with children, be sure he or she has extensive experience in this field. Determine the types of treatment and procedures the provider offers. Some may not perform surgeries, for example. Others may focus their practice on specialized conditions. Some providers use the most up-to-date technologies available. Many will put additional time into training to provide improved abilities or specialized treatments. Look for a provider that is known as one of the best in his or her field, especially in areas of research and development. This is especially important in situations where your condition warrants care that is more extensive.When working with an eye doctor for standard vision screening, get to know the provider well. Discuss your situation in-depth. Ask questions. See whether or not the provider takes the time to sit down and talk to you about your health and wellbeing. The more comfortable you feel with this provider the better. Ultimately, it is up to you to determine the best possible person for the job. Your sight is dependent on the selection you make. Get information about the experience and education of the individual and use your instinct to know if you can trust this professional.

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    India enters second day of a two-day nationwide general strike

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    India enters second day of a two-day nationwide general strike
    Posted in Uncategorized | August 10th, 2022

    Wednesday, March 30, 2022

    Yesterday, India entered the second day of a two-day nationwide general strike organised by a forum of central trade unions along with numerous other regional trade unions. Hundreds of protestors were seen with red flags in Jantar Mantar, New Delhi, a place frequently used for protests.

    The protestors claimed that the economic policies under the current Indian government led by Narendra Modi were hurting the unorganised sector of the country. Swadesh Dev Roye, a top official of Centre of Indian Trade Unions in a statement said that the Modi government “wants to hide its economic criminality under the garb of communalism and religion”.

    The protestors demanded job security in the unorganised sector, increased wages under the Mahatma Gandhi National Rural Employment Guarantee Act and scrapping of the National Monetisation Pipeline which would give employers more freedom in deciding working hours and wages.

    Some protestors were also demanding the halt of plans to privatise two public sector banks. The Modi government has been privatising many public sector institutions to stimulate economic growth in the country.

    Amarjeet Kaur, general secretary of All India Trade Union Congress reported that over 20 crore (200 million) protestors had participated on the first day. Banks, markets, and railway services were affected.

    India saw a major setback to its economy in the first two years of the COVID-19 pandemic. The unemployment rate in the country was reported to be eight percent in December last year.

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    Wikinews interviews World Wide Web co-inventor Robert Cailliau

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    Wikinews interviews World Wide Web co-inventor Robert Cailliau
    Posted in Uncategorized | August 9th, 2022

    Thursday, August 16, 2007

    The name Robert Cailliau may not ring a bell to the general public, but his invention is the reason why you are reading this: Dr. Cailliau together with his colleague Sir Tim Berners-Lee invented the World Wide Web, making the internet accessible so it could grow from an academic tool to a mass communication medium. Last January Dr. Cailliau retired from CERN, the European particle physics lab where the WWW emerged.

    Wikinews offered the engineer a virtual beer from his native country Belgium, and conducted an e-mail interview with him (which started about three weeks ago) about the history and the future of the web and his life and work.

    Wikinews: At the start of this interview, we would like to offer you a fresh pint on a terrace, but since this is an e-mail interview, we will limit ourselves to a virtual beer, which you can enjoy here.

    Robert Cailliau: Yes, I myself once (at the 2nd international WWW Conference, Chicago) said that there is no such thing as a virtual beer: people will still want to sit together. Anyway, here we go.

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