Ford agrees to $299M settlement as part of Takata airbag inflator scandal
Even though experts figured out the hows and whys of the Takata airbag scandal months ago, the fallout continues to settle.
Ford agreed this week to a $299.1 million economic loss settlement related to the Takata scandal, citing documents filed in federal court on Monday. Ford is the seventh automaker to agree to such a settlement -- BMW, Honda, Nissan, Mazda, Subaruand Toyota have already agreed to a combined $1.2 billion in settlements. Ford's settlement still requires approval from a federal judge before it can proceed.
The settlement isn't a traditional one you might expect, one that pays out to victims of faulty Takata airbag inflators. Instead, an economic-loss settlement covers economic damages. Example reasons for claims include buyers alleging they overpaid for cars with faulty equipment or that they were forced to pay out-of-pocket costs related to the recalls, which can cover lost wages and child care costs.
Over 100 million airbag inflators comprise the largest safety recall in the history of the automotive industry. Takata, the company that supplied the parts responsible for ensuring the airbag properly inflates, decided to use a cheaper material that was subject to failing after exposure to humidity. Some airbags, instead of inflating like usual in a crash, instead exploded in a cloud of shrapnel. 21 deaths and more than 290 injuries have been linked to the faulty parts, which are found in vehicles from 19 different automakers.
Takata subsequently filed for bankruptcy and sold most of its assets to Key Safety Systems, another supplier. It also pleaded guilty to felony wire fraud charges and accepted a $1 billion settlement. Finding this many replacement airbag inflators has been difficult. Whether due to parts shortages or lazy owners, some 30 million faulty inflators have not yet been repaired in the US -- a depressing number, considering that comprises about two-thirds of all the faulty Takata inflators in the country.
Lewis Hamilton agrees two-year contract extension at Mercedes
Reigning Formula One world champion Lewis Hamilton has signed a two-year contract extension at Mercedes and will remain with the team until the end of 2020.
The deal is reported to be worth $52 million per year, further enhancing the 33-year-old's status as Britain's highest-paid sportsperson.
As far as Hamilton was concerned, the extension had been "a formality" ever since he sat down with Mercedes executive director Toto Wolff "during the winter."
Aston Martin unveils sports car for the skies
Luxury carmaker Aston Martin has unveiled plans for a personal aircraft dubbed a "sports car for the skies".
The company has teamed up with jet engine maker Rolls-Royce and engineering boffins at Cranfield University on the futuristic project.
A concept aircraft was unveiled at the Farnborough Airshow, but the consortium hopes to have a flying version ready for the next show in two years.
The three-seat hybrid-electric vehicle will be vertical take-off and landing.
Aston Martin, so associated with James Bond, dismissed suggestions it was a gimmick more likely to appear in 007 films than be seen flying commercially.
"Personalised and electric air transport is a fast-developing area and we need to start getting into it," said James Stephens, the company's director of global government.
A number of aviation and technology firms are hoping to make electric-powered small aircraft and air-taxis a reality, including Airbus, ride-sharing firm Uber, and a Google-backed firm called Kitty Hawk. Earlier this week, Rolls-Royce announced plans to develop a flying taxi engine, although the project with Aston Martin is separate.
Mr Stephens said Aston Martin wants to corner the market in next-generation luxury flying vehicles for the rich and famous. The aircraft would, he said, "be a sports car for the skies".
But it won't come cheap. The working price guide for the vehicle is put at between £3-5m
"We, in the UK, have the ability to develop this," Mr Stephens said. "The challenge is time, money and regulation. But the market will be there eventually."
SOURCE - BBC
Trini Woman Jailed in UK for Defrauding Charity of US$1 Million
A Trinidadian-born woman has been jailed in the United Kingdom for defrauding a charity she worked for of just over US$1 million.
Nadia Deone Chase Ali, 35 was sentenced to six years in prison after being convicted of fraud by abuse of position, theft and removing money from England and Wales.
Ali was employed as a financial officer with Carnival Village Trust (CVT). She then went on to work freelance for the organisation, holding a position of trust in which she was expected to safeguard the financial interests of the charity.
Over the course of two years, Chase Ali made 530 separate payments totalling £784,262.56 (US$ 1.02 million) from CVT and TW11’s bank accounts into four of her own accounts. She disguised those transactions as payments to legitimate suppliers, service providers and government organisations, prosecutors said.
Investigators said Ali provided no explanation in an interview for the fraud or documents found at her home. She was charged seven months after arrest, and on day two of her trial which began on June 11 in the Isleworth Crown Court, she changed her plea for two counts – fraud by abuse of position and removal of criminal property out of England and Wales. She continued to plead not guilty to theft of the financial documents from the Tabernacle.
Europe fines Google $5 billion for abusing its Android dominance
The company was ordered by the European Commission on Wednesday to pay €4.34 billion ($5 billion) for unfairly pushing its apps on smartphone users and thwarting competitors.
"Google has used Android as a vehicle to cement the dominance of its search engine," Margrethe Vestager, Europe's top antitrust official, said in a statement.
"They have denied European consumers the benefits of effective competition in the important mobile sphere," she added.
The Commission said that Google broke the law by requiring manufacturers to install its Google Search and Chrome apps as a condition for licensing Google's app store.
It said that Google paid some large smartphone makers and network operators to install apps on phones before they were sold. It also prevented manufacturers from selling devices running on alternative versions of its Android operating system.
Vestager told reporters that the fine, the largest ever imposed by the European Commission, reflects the "seriousness and sustained nature" of the violations.
Google has been ordered to stop the practices within 90 days, or face additional penalties
EU regulators have taken a much more adversarial approach to big tech companies than their US counterparts, especially when it comes to competition, data protection and tax issues.
SOURCE- BBC
CLOSING OF 2018 CONCH SEASON!
Please be advised that the 2018 Conch Season is now closed as of Sunday, 15 July 2018.
The Department of Environment and Coastal Resources (DECR) would like to take this opportunity to remind the public that export of conch meat is be prohibited during the period of July 15 – October 14, 2018.
Only the following exports of conch products will be allowed:
- Conch pearls;
- Conch shells (size restriction of a minimum of 7 inches; export of 4 or more shells requires a CITES permit applied for through the DECR); and
- Conch shell products.
The DECR therefore suggests that all persons make provisions to accommodate the closure of the export season.
While consumption of conch within the TCI is permitted year-round, the DECR appeals particularly to Hotel owners/managers that all efforts should be made to educate/inform their guest on the particulars of exporting conch products.
Please contact the department for clarifications pertaining to the above matter at Tel. 338-4170 or email environment@gov.tc
Integrity Commission Press Release
The Integrity Commission of the Turks and Caicos Islands is currently undertaking several investigations and, in this regard, subjects may be interviewed, and/or arrested for questioning, and/or charged.
This morning, in a joint operation by the Integrity Commission and the Royal Turks and Caicos Islands Police Force, a former Commissioner of Labour of the Turks and Caicos Islands was arrested for questioning on suspicion of corruption.
It is anticipated that the former Commissioner will be bailed pending further investigations by the Integrity Commission.
As these are live investigations, the Integrity Commission will not comment any further on this matter at this time.
Further press releases may follow.
TCIG APPOINTS MICHAEL ROBINSON AS DEPUTY DIRECTOR OF ESTATES
PRESS RELEASE
TCIG APPOINTS MICHAEL ROBINSON AS DEPUTY DIRECTOR OF ESTATES
The Office of the Deputy Governor is pleased to congratulate Mr. Michael Robinson on his appointment to the role of Deputy Director of Estates within the Ministry of Infrastructure.
Mr. Robinson holds a Bachelor's of Science degree in Biology from the University of South Carolina in Columbia, and a Associates Degree in Medical Laboratory Technology from Midlands Technical College, also in Columbia, South Carolina.
After completing his studies, Mr. Robinson interned at the State Medical Hospital in Columbia, SC. He was then employed as a Chemical Laboratory Technician at Monsanto Electronics in Woodruff, SC then at Lenscrafters in Spartanburg, SC. He later gained the position of Supervisor to Manufacturing Manager at Siemens Energy and Automation in Spartanburg, SC.
After returning home to the Turks & Caicos he worked as the General Manager responsible for setting up and running operations for Tasty Delights (Froots), Grand Turk Manager for Digicel TCI and then the Health and Environmental Safety and Security (HESS) Assistant Manager at the Grand Turk Cruise Centre in Grand Turk.
Commenting on his excitement to perform within his new capacity, Mr. Robinson stated; "In this capacity, I am able to utilize and call upon a vast and extensive background in Facilities Management, Space Utilization, Facilities Health and Safety Codes, Policies, and compliance. Since my return, prior to joining the Civil Service, I saw many opportunities for growth and development in the areas of Health and Safety throughout both the Public and Private sectors. I am delighted that I am in a position where I can use my knowledge and experience for the good of not only my fellow Civil Servants, but my country in these areas."
Deputy Governor Anya Williams in congratulations said; "We are pleased to add Mr. Robinson and his particular set of skills to the TCIG team. We expect great things of Mr. Robinson in his new role and we will continue to work towards the goal of recruiting the most talented of human resources to the civil service which will only improve our overall product."
First black Miss Universe Great Britain!
The first black woman to be crowned Miss Universe Great Britain in the pageant's 66-year history has called it "a great achievement".
Dee-Ann Kentish-Rogers has told Newsbeat competing was "the best experience of my life".
Miss Universe GB selects Britain's representative for the Miss Universe contest.
Dee-Ann will now go on to represent Great Britain in the 67th Miss Universe pageant later this year.
"I've come to the realisation that I've not only won the pageant as Dee-Ann, but as a black woman," she says.
The 25-year-old from Anguilla, a British overseas territory, says she's received several humbling messages since winning the pageant, including those from mothers on behalf of their daughters.
"Some individuals have reached out to me in a personal capacity just to say that my win feels like a win for them.
"As it got closer to the competition, I started to feel the magnitude of what this could mean if I were to get the crown, not just for black women, but for Great Britain as a whole."
SOURCE -BBC NEWS
Weather Forecast 18th July, 2018
BAHAMAS AND TURKS AND CAICOS ISLANDS PUBLIC FORECAST
THIS IS A PUBLIC FORECAST FOR TUESDAY 18TH JULY 2018 ISSUED BY THE BAHAMAS DEPARTMENT OF METEOROLOGY
GENERAL SITUATION: HIGH PRESSURE RIDGE ALONG WITH SAHARA DUST EXTEND FROM THE CENTRAL ATLANTIC OCEAN ACROSS THE BAHAMAS AS A TROPICAL WAVE EXITS WEST OF THE AREA.
SPECIAL WARNINGS: BOATERS SHOULD REMAIN VIGILANT FOR POSSIBLE WATERSPOUT DEVELOPMENT TONIGHT THROUGH TOMORROW WHILE BEACH GOERS IN THE CENTRAL AND SOUTHEAST BAHAMAS SHOULD EXERCISE CAUTION DUE TO THE HIGH RISK OF RIP CURRENTS ALONG EASTERN SHORELINES.
SOUTHEAST BAHAMAS INCLUDING THE TURKS AND CAICOS ISLANDS.
WINDS: EAST TO SOUTHEAST AT 15 TO 20 KNOTS OVER OPEN WATERS.
SEAS: 4 TO 6 FEET OVER THE OCEAN.
NORTHWEST BAHAMAS
WEATHER: MOSTLY FAIR, HUMID AND WARM TONIGHT EXCEPT FOR FEW LINGERING SHOWERS OR A THUNDERSTORM NEAR THE EXTREME NORTHWEST BAHAMAS. PARTLY SUNNY, HOT AND STEAMY TOMORROW WITH FEW SCATTERED SHOWERS AND ISOLATED THUNDERSTORMS EXPECTED.
ADVISORY: BOATERS SHOULD BE ALERT FOR GUSTY WINDS AND HIGHER SEAS IN OR NEAR HEAVY SHOWERS OR THUNDERSTORMS.
WINDS: SOUTHEAST TO SOUTH AT 10 TO 15 KNOTS, FALLING LIGHT AND VARIABLE AT TIMES MAINLY ACROSS THE EXTREME NORTHWEST BAHAMAS.
SEAS: 2 TO 4 FEET OVER THE OCEAN BUT AROUND 1 TO 3 FEET AT TIMES IN THE EXTREME NORTHWEST BAHAMAS.
CENTRAL AND SOUTHEAST BAHAMAS INCLUDING THE TURKS AND CAICOS ISLANDS.
WEATHER: PARTLY CLOUDY TO FAIR SKIES, BREEZY AND WARM WITH THE CHANCE OF AN ISOLATED SHOWER TONIGHT. PARTLY SUNNY, BREEZY AND HOT TOMORROW WITH A PASSING SHOWER OR TWO LIKELY.
ADVISORY: SMALL CRAFT SHOULD EXERCISE CAUTION IN THE CENTRAL AND SOUTHEAST BAHAMAS INCLUDING THE TURKS AND CAICOS ISLANDS.
OVERNIGHT LOW TEMPERATURE:
77 °F 25 °C
HEAT INDEX FOR TOMORROW
106 °F 41°C
DAYTIME HIGH TEMPERATURE: 92°F 33°C
SUNSET: 7:59 PM SUNRISE: 6:31 AM WED
MOONSET: 11:54 PM MOONRISE: 12:15 PM WED
HIGH TIDE: 11:33 PM & 12:11 PM WED
LOW TIDE: 6:00 AM WED & 6:25 PM WED
SOURCE- DDME TCI