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.

Saturday, March 8, 2008

Satellite Information Services Limited (SIS), the racecourse television company part-owned by William Hill (19%) and Ladbrokes (23%), has been named by the BBC as the preferred bidder for its Outside Broadcasts division, one of three active businesses within BBC Resources Ltd. Other SIS shareholders include, Thales (Racal) (23%), United Business Media (19%), Racecourse Association (10%) and the Tote (6% – all figures rounded).

SIS Chief Executive David Holdgate would not comment on the terms of the deal, thought to be between £20m and £50m, but said it would be “an ideal acquisition for SIS” and “a perfect fit with our existing SISLink and sports coverage”. The company has long-term contracts with other leading broadcasters, such as Sky and ITV and provides satellite links for live sport and news.

In a statement, the BBC said that it intended to exchange contracts and transfer the Outside Broadcasts business and around 300 staff in the near future, with Andrew Thornton, BBC project director for the sale of the division, saying that “SIS offered the BBC a good deal and best value for licence fee payers”. Mark Tugwell, Director, BBC Outside Broadcasts, added “it’s time for our business to flourish under new ownership, without the constraints of BBC ownership”.

The transfer would mean that SIS will be covering major sporting events including the Beijing Olympics for the BBC in August 2008.

The division — part of the BBC’s commercial subsidiary, BBC Resources Ltd — owns a fleet of 15 television production units plus sound, support and communications vehicles (making a total fleet of over 90) and is based in self-contained premises in Langley, three miles north-west of Heathrow. These units cover events ranging from music festivals and state occasions, to Wimbledon and World Cup football.

On 7th March 2008 the surprise announcement was made that the studio operation — employing around 350 staff at Television Centre and Elstree — would be “retained by the Corporation as a commercial business” after failing to find a buyer.

The fate of this third business has yet to be announced with the BBC continuing negotiations with the preferred bidder “understood to be a company based in west London“.

Was not included in the privatisation — in early October 2007 it was announced that the business was to close within six months and the entire stock sold as a complete collection. The sale fell through, and on 14th February 2008 the department ceased trading, with a BBC spokeswoman adding that “the arrangements [the corporation] was pursuing have not worked out and BBC Resources is currently inviting interested parties to consider making an offer to purchase.”

BBC Costume and Wigs — which had been trading as part of BBC Studios — was the second largest collection of its kind in the UK, after the leading suppliers Angels The Costumiers.

Tuesday, June 16, 2009

According to a recent study, almost every kind of animal on Earth engages in same-sex sexual behavior whether intentional or natural. Lead scientist on the study, Nathan Bailey, says the list includes, among others, dolphins, penguins, frogs and birds.

“It’s clear that same-sex sexual behavior extends far beyond the well-known examples that dominate both the scientific and popular literature,” said Bailey, a postdoctoral researcher of biology at University of California, Riverside.

The study was published in today’s edition of the journal Trends in Ecology and Evolution.

In some cases the animals are not aware that they are engaging in same-sex sexual behaviors. One example are male fruit flies. According to the study, males in some cases will unintentionally cater to other male flies because they lack a gene which allows them to determine the sexes of other fruit flies. Bottle nose dolphins have also been known to sometimes engage in same-sex sexual behavior as a way to socially bond with other dolphins.

Bailey states that such actions will have an effect on evolution, but that science is only just beginning to research what the effects might be. Bailey also said that natural selection could be playing a role in what animals engage in same-sex sexual behavior.

“Like any other behavior that doesn’t lead directly to reproduction — such as aggression or altruism — same-sex behavior can have evolutionary consequences that are just now beginning to be considered,” Bailey said.

He added that “same-sex behaviors — courtship, mounting or parenting — are traits that may have been shaped by natural selection, a basic mechanism of evolution that occurs over successive generations.”

Scientists included in the study research on the origins of homosexual behavior in animals, examining whether the behavior is adaptive in an animal’s environment, and whether it happens often.

Friday, June 11, 2010

The great-granddaughter of former South Africa President Nelson Mandela has died in a car crash following a concert to open the World Cup.

The Nelson Mandela Foundation released a statement which said that thirteen-year-old Zenani Mandela, who celebrated her birthday on June 9, died in a single vehicle accident and that no one else was injured. The statement continued: “The family has asked for privacy as they mourn this tragedy.”

The driver of the vehicle of which Zenani Mandela was a passenger has been arrested and charged with drunk driving. He may also face culpable homicide charges, according to police.

South Africa has a poor road safety record and ranks ninth in the world for traffic fatalities. Traffic safety is feared to be a threat of injury to supporters to the World Cup.

Thursday, January 25, 2018

In findings published Wednesday in the scientific journal Cell, a team of scientists from the Chinese Academy of Sciences in Shanghai, China have announced the first-ever cloning of a primate from post-embryonic cells, namely two macaque monkeys. They used somatic cell nuclear transfer, the same method that was used to create Dolly the sheep in 1996.

In somatic cell nuclear transfer, scientists remove the nucleus, which is the organelle that contains the chromosomes, from an unfertilized ovum, or egg cell, and implant the nucleus from a somatic cell, or non-reproductive cell, into that ovum. The ovum is then stimulated and develops in the normal way, growing into a whole organism that has the same nuclear DNA as the donor organism, though it will have all of the ovum’s mitochondria and other cellular machinery. Clones like these have been described as identical twins to their donors, but younger.

The scientists implanted 21 ova into surrogate mother monkeys, resulting in six pregnancies, two of which produced living animals. The young clones were named “Zhong Zhong” and “Hua Hua,” both derived from Zh?nghuá, the Chinese-language word for the Chinese people. They are both cynomolgus monkeys, or crab-eating macaques (Macaca fascicularis). The scientists also attempted to clone macaques using nuclei from adult donors. They implanted 42 surrogates, resulting in 22 pregnancies, but there were still only two infant macaques, and they died soon after birth. The Scotland-based team that created Dolly the sheep in 1996 required 277 attempts and produced only one lamb.

Generally, the older the donor organism, the more difficult it is to get the DNA from the harvested nucleus to reactivate the genes that allow the clone organism to grow. Previous efforts to clone rhesus monkeys (Macaca mulatta) using embryonic donor cells have been successful, but the current attempt used significantly older donors: fetal fibroblast cells, which are key cells in connective tissue, and adult monkey cumulus cells.

“We’re excited — extremely excited,” said study co-author Muming Poo. “This is really, I think, a breakthrough for biomedicine.” He went on to say that the cloned monkeys could be used as test subjects for the study of neurological diseases such as Parkinson’s and Huntington’s. Primates are already a popular model organism for neurological studies. In the United States, for example, non-human primates are used in less than 0.3% of all animal experiments, most of them involving neuroscience, and macaques in particular are a well-established animal model of atherosclerosis, which causes heart disease.

“I think it’s a very exciting landmark. It’s a major advance,” agreed reproductive biologist Dieter Egli of Columbia University. “It should be possible to make models of human disease in those monkeys and study those and then attempt to cure it.”

About 90% of the laboratory animals used in the United States are rodents. Although the first cloned mouse was born in 1998, cloned mice are not currently common in laboratory settings. This may be because producing inbred mouse lines is still relatively effective.

Although the announcement raised enthusiasm from researchers, it also drew caution from bioethicists. “Cloning one individual in the image of another really sort of demeans the significance of us as individuals,” says Harvard Medical School’s Dr. George Daley, speaking specifically of cloning humans. “There’s a certain sort of gut sense that it violates sort of natural norms.” While Muming Poo concedes it is now theoretically possible to clone a human, he says his lab has no plans to do so.

Although somatic cell nuclear transfer was used successfully in amphibians as early as 1952, getting it to work in mammals took much longer. Dolly, the first cloned mammal, was born in 1996. Teams have been trying to clone monkeys for decades, but primate DNA is notoriously difficult to work with. “The trick is we choose the right chemicals to turn on these genes we transfer into the egg,” Mu-ming Poo told the press. “So that’s what we did different. I think that’s the key.” One of the agents used to treat the ova was messenger RNA from the human Kdm4d gene.

Wednesday, October 15, 2008

Oscar Diös is a Swedish businessman looking to invest in a new project within the aviation community. He’s already bought the venture’s first airliner, a Boeing 747-200.

However, his intention is not to start an airline, and the jet is not intended for flight. Instead, he plans to convert the airliner into a unique business which he calls the ‘Jumbo Hostel’. The 450-seat widebodied jetliner will have 25 rooms sleeping a total of 85 people, including some in a luxury suite in the cockpit, and will sit at the entrance to Stockholm-Arlanda Airport.

Built in 1976, the aircraft was an “old wreck” when acquired, according to Oscar. The aircraft was being offered for sale at Stolkholm-Arlanda after previous owner Transjet became bankrupt. The airframe has then been completely gutted and is being fitted with a new, modernised interior. Each room contains three bunk beds. A cafe and a walkway across the left wing are also featured.

The airliner will sit on a concrete platform at the airport’s entrance, with its landing gear secured in steel cradles. It is intended to offer a good view of the day-to-day operation of the airport.

The hostel, which is to open in December, is aimed at families with children, aviation enthusiasts, low-budget travelers and people catching early morning flights who wish to leave it as late as possible before rising to get to check-in – unlike its competitors, the Jumbo Hostel is ten minutes walk from the check-in desks.

Wikinews conducted an email interview with Oscar Diös to talk about the hostel. The full exclusive interview is available below.

Wednesday, May 25, 2016

Dozens of tax investigators raided Google’s offices in French capital Paris yesterday as part of a probe into the company’s alleged tax evasion.

The raid was conducted by investigators from the state financial prosecutor’s office assisted by 25 information technology (IT) experts, according to officials. “The investigation aims to verify whether Google Ireland Ltd has a permanent base in France” the prosecutor’s office said, “and if, by not declaring parts of its activities carried out in France, it failed its fiscal obligations[…]”.

Google, a subsidiary of Alphabet Inc., reports most of its sales in Ireland. Google claims most sales contracts are closed in its Dublin offices. If investigation finds sales are being concluded in other countries, Google may need to pay additional taxes in these countries.

In 2014 Google reported a total yearly revenue in France of €225.4 million with a profit of just €12.2 million, paying only €5 million in corporate tax according to the Financial Times. A Google spokesperson said the company is co-operating with French authorities and fully complies with French law.

According to Reuters, a source from the French finance ministry said French tax authorities are also separately pursuing Google for €1.6 billion in back taxes.

Wednesday, January 10, 2007

Apple Inc. today has introduced the much-anticipated iPhone at the Macworld Conference in San Francisco.

The iPhone is claimed to be “a revolutionary mobile phone” as stated on the Apple website. The device appears to be running a mobile version of the Apple operating system Mac OSX. It is approximately the same size as a 5th generation iPod, it has a 3.5-inch LCD touchscreen display that is used to access all features of the phone including number dial, as well as making phone calls. The iPhone plays music, movies, displays pictures and is able to connect to a wireless network.

Apple CEO Steve Jobs unveiled the device by walking onto the stage and taking the iPhone out of his jeans pocket. During his 2 hour speech he stated that “Today Apple is going to reinvent the phone, We are going to make history today”.

Today Apple also released their Media Center device – Apple TV. It will directly compete with Microsoft’s Media Center operating system. Apple has taken a different approach to the media center market; rather than storing content (such as movies, music and photos) on the device, Apple TV connects to a computer (Mac and Windows) over a wirless network connection and plays all content stored on that computer. This makes it substantially easier for users to organize their media content.