Sunday, June 4, 2006

The two brothers who were arrested on Friday regarding intelligence of a chemical bomb plot in East London have denied all the accusations, according to their lawyers.

In relation to the accusations of manufacturing a chemical device, Kate Roxburgh, Mohammed Abdul Kahar’s lawyer, said “(Kahar) says there’s absolutely not a word of truth in any of it. He says the police are not going to find anything because there is nothing to find.”

Koyair’s lawyer has denied his client has been involved in a terrorist plot.

The announcement comes after the dramatic events of Friday morning, where over 250 police officers were involved in a raid on a house in the Forest Gate area of the city. The raid took place after British security services received intelligence of a “viable” chemical device within the property.

Mohammed Abdul Kahar, aged 23, and his 20 year-old brother Abul Koyair were arrested in a dawn raid on Friday under the Terrorism Act after several weeks of surveillance by MI5. During the operation, Kahar was shot in the shoulder.

Early reports suggested that police were responsible for the injury, from which Kahar is now recovering. However, one source claims that it was actually Abul Koyair who pulled the trigger, accidentally wounding his brother in the panic – an allegation that Koyair has denied.

The brothers, who are both Muslim and of Bangladeshi origin, are being questioned today at London’s high-security Paddington Green Police Station. Meanwhile, police officers are still searching the house for a device, which they believe to be a conventional explosive with added chemical components.

Due to the ongoing investigations, there is still a large police presence at the residence, as well as a layer of sheeting surrounding the building. Despite the small yet ever-present chance of a chemical incident, other residents of the street have not been evacuated.

In response to safety fears, police said that “nothing suspicious was found in an initial search of the house and that neighbours are not in danger.”

BBC News reported that Health Secretary Patricia Hewitt was “keeping ministers informed” about the unfolding situation but would not comment about specific points of the investigation.

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.

Wednesday, February 18, 2009

The United States auto manufacturer Chrysler, which has been badly affected by the ongoing recession, has asked the US government for an additional US$5 billion in aid on top of the four billion it has already received, saying that it plans to fire three thousand employees. At the end of last year, the auto maker had just over 54,000 employees, meaning that the layoffs will equal about six percent of its total workforce.

In addition, Chrysler will cut the Chrysler Aspen, PT Cruiser, and Durango from production.

Another automaker, General Motors (GM), announced that it seeks $16.6 billion in loans from the government, in addition to the $13.4 billion that it has already received. GM plans to lay off 47,000 employees and close five factories. GM says that it might need as much as $30 billion from the US Treasury Department, an increase over their previous estimate of $18 billion. The company has warned that it might run out of money by March if more aid was not given.

Rick Wagoner, GM’s chief executive, described the firm’s plan as “comprehensive, responsive, achievable, and flexible”. “We have a lot of work in front of us, but I am confident it will result in a profitable General Motors,” he said, adding that “today’s plan is significantly more aggressive because it has to be.” GM says that it could be profitable in two years’ time, and might be able to repay all its loans by 2017.

A third US car manufacturer, Ford Motor Company, has said that it can make it through this year without any government aid.

The US Treasury Department will review the car makers’ survival plans for several weeks before a decision is made on whether or not to extend the loans. That decision is due by the end of next month.

Wednesday, January 6, 2010

File:Tuna.jpg

This Tuesday, at a wholesale auction at the Tsukiji fish market in Tokyo, a 512-pound bluefin tuna was sold for over sixteen-million yen ($177,000 USD). The great fish was bought and then shared by the owners of a local sushi restaurant and a Hong Kong-based dining establishment. This tuna is the most expensive fish sold on record since 2001, when a 440-pound tuna was sold for over twenty-million ($220,000) at the very same market.

When asked by local media outlets why he decided to purchase this giant tuna, the Hong Kong restaurateur said, “I want[ed] to make an impact on the Japanese and Hong Kong economies by buying the highest-priced tuna.”

This locally caught tuna was among over two-thousand others bought and sold at this bustling fish market. Japan is the world’s largest consumer of seafood per annum. With tuna being a major staple of their cuisine, the Japanese eat nearly eighty-percent of all commercially caught bluefin.

However, tuna consumption in Japan has declined over recent years due to the change in the spending habits of its people as a result of economic downturns from the most recent recession.

“Consumers are shying away from eating tuna…We are very worried about the trend,” a spokesperson for the Tsukiji market told the Associated Press.

In addition to the lack of demand and declining tuna stocks, fishermen and wholesalers worldwide are worried by the possibility of tighter fishing regulations that will be sanctioned and enforced by the Japanese government. Despite this promise, many environmentalists say that this is not going far enough; they say that the only way to curb the inevitable extinction of the Pacific bluefin tuna is to initiate a trade ban on the fish altogether.

Tuesday, May 31, 2005

One thousand residents of the Defense Department-managed Armed Forces Retirement Home in Washington, D.C. filed a class-action lawsuit on May 24, asserting that the cut-backs in medical and dental services imposed by Secretary of Defense Donald Rumsfeld are illegal. The operating budget for the home was reduced from $63 million in 2004 to $58 million for 2005. The residents cite cuts in on-site X-ray, electrocardiogram, physical and dental services, and the closing of the home’s main clinic and an on-site pharmacy.

Chief Financial Officer Steve McManus responded that the changes not only save money but also achieved improved efficiencies. “We’re really trying to improve the benefits to our residents,” he said.

Most of the home’s costs are paid for by a trust fund and monthly fees paid by residents. By law, the Armed Forces Retirement Homes are required to fund, “on-site primary care, medical care and a continuum of long-term care services.”

Thursday, July 24, 2008

A bus crash in Victoria, Australia has injured at least 20 people, two of whom are listed as critical. One victim is reported to be still trapped in the wreckage.

The accident occurred between a bus and a semi-trailer on the Princes Highway in the Traralgon area around 10:50am AEST. The La Trobe Valley Busliner bus was traveling east when it collided with the back of a heavy haulage truck.

Those critically injured are being airlifted to a hospital in Melbourne. Others are being transported by Ambulance to La Trobe Valley Hospital in Traralgon.

SES crews are on scene, along with St. John Ambulance and fire crews.

The eastbound lanes of the highway have been blocked by police and traffic is being diverted.

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