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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By Sean Goudeloc
When it comes to car shipping to Durban, it is important to keep in mind that there are presently two common methods available for you. The first is through the RORO method where specialized vessels are used to carry so-called rolling cargoes like cars, motorcycles, trucks, and even motorhomes and take them to the Durban port.
The RORO method is said to be the most inexpensive method that you can avail of if you have plans of shipping to South Africa generally large items like cars. This is because charges are applied only on the space taken up by the car once this is loaded onto a RORO vessel. The method also happens to be quite secure since your vehicle gets checked several times while this is being shipped.
Additionally, extreme care is taken to ensure that your vehicle is not unnecessarily damaged from the moment this gets loaded until the RORO ship reaches its destination. Travel time of the ship lasts from as short as 20 days to as long as 30. For its trip to Durban in South Africa, the vessel departs from its base in the UK once every 14 days.
The second method of vehicle shipping to Durban involves the use of containers. Under a container shipping to Durban method, your vehicle gets placed inside containers having either a 20 or 40 feet measurement. Ratchet straps and chocks are primarily used to secure the vehicle while inside these containers.
The difference between a 20-foot container and a 4-foot one is that with the latter, you can load anywhere from 2 to 3 different vehicles, However, this will still depend on the size of the vehicles involved. Regardless of the container size used, the ship carrying them travels from 24 to 31 days before reaching the port in Durban.
Inside these containers, the vehicle is usually considered hazardous goods. As such, car shipping to Durban will involve being supplied with the so-called Dangerous Goods Note which serves as a form of added protection for your car. People will naturally have second thoughts about toying with containers tagged as having dangerous items inside. The same thing can be said when it comes to shipping a truck to Durban.
On the other hand, in Cape Town, the process of car shipping is seen as a lot longer and normally more expensive. This is mainly because this particular town in South Africa is known for having a highly-rated mass transport system. As such, there is no need to ship your car over unless you have plans of doing a lot of travels while staying in South Africa. Even so, many visitors are known to simply sell their vehicles before coming over to the country where they eventually purchase a less expensive car which they can use for their various trips.
Upon arrival in Durban port, the next step in your car shipping to Durban process is to have your vehicle cleared by South African customs authorities. After this, the cleared vehicle has to be loaded onto an automobile carrier which will take the same to its destination. In this regard, it is important to note that if your vehicle has been brought to Durban in transit prior to being taken to such countries as Botswana, Malawi, Lesotho, Swaziland, Zambia, and Zimbabwe, this will not be given the license to be taken across South Africa.
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Friday, November 20, 2009
Pakistani officials said that a suspected US drone attack has killed at least eight people today, including foreign militants, in the country’s northwest.
The officials said that two missiles were fired at a compound being used by suspected Taliban militants in Mir Ali village, in North Waziristan, a region on the Afghanistan-border that is said to be a militant stronghold.
| At least eight people were killed in the drone attack. | ||
“At least eight people were killed in the drone attack. A compound used by militants was targeted,” said an unnamed official to the Agence France-Presse (AFP) news agency.
Police official Mohammad Haroon said to the Reuters news agency that “it was a remote-controlled bomb. Two policemen died on the spot, while a third has succumbed to his injuries a short while ago.”
US military officials generally do not confirm attacks such as these, but its armed forces and Central Intelligence Agency employees in Afghanistan are the only forces that deploy pilotless drones in the region.
At least 65 similar drone strikes have killed about 625 people in Pakistan since August of last year, according to AFP.