WASHINGTON — House Speaker Nancy Pelosi on Tuesday defended her decision to visit Taiwan despite an aggressive response from China that has included live-fire military exercises in the Taiwan Strait.
“Yes, it was worth it,” she said in her first interview since returning from Asia last week on NBC’s “TODAY” show. “And what the Chinese are doing is what they usually do.”
Pelosi, a California Democrat, said she had received “overwhelming bipartisan support” for her historic visit and reiterated that “China will not be allowed to isolate Taiwan.” She also questioned why her trip de ella has received so much attention, while a group of senators traveled to Taiwan several months earlier and it had no impact. “Did anybody make a fuss?” she asked.
House Speaker Nancy Pelosi arrives at the Taiwanese Parliament in Taipei last week.Sam Yeh / AFP – Getty Images
“It was bipartisan, it was high-powered, including the chairman of the Foreign Relations Committee — nobody said a word,” she said. “If they can ignore a trip of five senators in a bipartisan way, why would they decide on my trip, that it would be different. … There’s something wrong with this picture.”
The speaker said Chinese President Xi Jinping “has his own insecurities” and she won’t let him control the schedule of members of Congress. In a separate interview Tuesday on MSNBC’s “Morning Joe,” Pelosi said Xi is “in a fragile place.”
“He has problems with his economy. He is acting like a scared bully,” she said, adding that Xi is focused on getting re-elected.
China immediately denounced Pelosi’s visit to Taiwan, a self-governing island that Beijing claims as part of its territory, and announced it would launch “a series of targeted military actions as countermeasures” to “resolutely defend national sovereignty and territorial integrity.”
China has said Pelosi’s visit violated the “one-China policy,” which is Beijing’s claim to be the sole government of both mainland China and Taiwan.
The United States has long abided by the policy, which means it does not have official diplomatic relations with Taiwan, but does maintain an unofficial embassy on the island.
Rebecca Shabad is a politics reporter for NBC News based in Washington.
Each week, Dr Kirstin Ferguson tackles questions on the workplace, career and leadership in her advice column “Got a Minute?” This week, a question about being paid for attending a workshop, corporate box-ticking on NAIDOC week, and what to do when you’re not happy with the pay rise you got.
I have been invited to attend a strategy workshop in an area where I have experience but is outside my day-to-day work. It is being run by a government training provider and the organizers expect me to contribute my ideas for free, even though they end up being used by others without acknowledgement. Most, if not all attendees will be paid directly or indirectly to attend the weekday event but as a Disability Support Worker with private clients, I will lose a day’s wages to attend. I have floated the option of consulting the training provider but have been declined and they say this will be a “good opportunity to network”. I see no value in this and resent losing money and my ideas not being valued. How do I navigate this situation and respond in a way that will leave the door open for future involvement?
Networking and exposure aren’t sufficient payment if you’re being asked to contribute heavily to a workshop.Credit:Dionne Gain
Ah, that old chestnut of “networking opportunity”. You should ask the government training provider if they are forgoing their wages on that day for the “networking opportunity” (only, just kidding, don’t really ask that but you know what I mean!). There are rare occasions when the opportunity to do something far outweighs any payment you might receive. It does not sound like this is one of those opportunities.
My advice is to work out your day rate – at a minimum what you make as a support worker and then some, since the work you do as a consultant will be quite different – and let the training provider know this is your fee for the day . If they decide not to use you, that is up to them. I expect that if you have a certain expertise they can’t replicate, they will understand they will need to pay you to be there. You will then set the expectation with them and anyone else who wants to engage you with that you have a daily rate for your expertise. It is important that you are paid and respected for the value you offer.
My company emailed everyone about the NAIDOC week celebration, which I was looking forward to. Turns out the “celebration” was basically a table with non-Indigenous-inspired snacks and some materials explaining Indigenous culture. Our line manager did not know what to do and the whole thing was lacking to say the least. It reminded me of an International Women’s Day celebration with pretty cupcakes and cute stickers – just another corporate box-ticking exercise with no substance to it. There could have been Indigenous speakers or the very least internal panel to discuss and bring awareness to the organisation. Why the lame effort for something so important? I would have much preferred if they just sent out an email and be done with it, instead of a disjointed and uninspiring celebration.
It is critically important we avoid turning NAIDOC week – or any other efforts to celebrate diversity and inclusion – into just another corporate box-ticking exercise, as you have identified. Sadly it sounds like your employer simply wanted to be seen to be doing something rather than taking the time to think through the purpose and meaning behind NAIDOC week.
Given the theme for NAIDOC week 2022 was Get Up! stand-up! Show Up! I wonder whether your letter is the first step in that process and you have the opportunity now to pass on your feedback and suggestions to your employer for what can be done differently (and not just during NAIDOC week but every week). Does your employer have a Reconciliation Action Plan (RAP) or other ways to recognize and celebrate Indigenous employees or the Indigenous lands you work on? There are many resources available at naidoc.org.au you can also direct your line manager to if they are unsure of how to proceed.
I have been working in a business I really like it for three years. The people and culture are great. I have recently been offered a promotion but the salary offer was quite disappointing compared to what I am paid now. I was only offered a few thousand dollars more but extra responsibility. To be honest I felt offended by the offer and have told the business owner but I don’t think anything will change in that regard. Considering the market situation I am truly considering moving on. Should I approach them with a final counter offer and advise if that is not met at some point soon, should I be open to new opportunities?
I can understand your disappointment if, in your mind, you think the new role is worth a lot more. However, sometimes it can be short-sighted to move. The grass is definitely not always greener. You are working somewhere you love and you said the people and culture are great. That is worth something – maybe not money – but it is worth something for the moment. The other opportunity you have is to take on a promotion with extra responsibility. The experience you gain in your new role will help you down the track apply for and hopefully obtain jobs that might pay even more.
Overwatch Anniversary Remix 3 offers a sick new version of Tracer’s Graffiti skin.
Blizzard Entertainment
With Overwatch 2 on the horizon, it’s almost time to say goodbye to the original game once and for all. There’s no time to be sad just yet though, since Blizzard is throwing a farewell party with Overwatch Anniversary Remix: Vol. 3. The event is now live on all platforms and it runs until August 30.
MORE FROM FORBES‘Overwatch 2’ Won’t Have Another Beta Before LaunchBy Chris Holt
That’s an important date, because Blizzard will no longer sell loot boxes after that time. Loot boxes are going away in Overwatch 2 in favor of a battle pass. You’ll still be able to earn loot boxes in Overwatch in the meantime. Blizzard will automatically open all your remaining loot boxes for you after Overwatch 2 launches on October 4th. (Remember, all your cosmetics carry over to Overwatch 2.)
MORE FROM FORBES‘Overwatch’ Won’t Make You Manually Open All Your Loot Boxes Before ‘Overwatch 2’By Chris Holt
But I would recommend opening up your boxes ASAP, especially if you’re running low on credits, like I am. That’s because Anniversary Remix: Vol. 3 has some new twists on some classic skins and some of them are bangers.
Legendary Skins
There are six remixed Legendary skins available during this event. They each cost 3,000 credits in the Hero Gallery. Alternatively, you might get lucky and snag them from the very last Anniversary loot boxes. Of note: if you log in once during the event, you’ll get a free Anniversary loot box.
Tagged Tracer (pictured above)
Graffiti Tracer is my second-favorite Tracer skin. Or at least it was my second fave. The remixed version, Tagged Tracer, is even better. This skin is sick. I need to hurry up and finish writing this post so I can go unlock it.
Genjiman Genji
Genjiman Genji skin in Overwatch.
Blizzard Entertainment
An obvious play on Ultraman, this is a fresh spin on Genji’s Sentai skin with red and yellow replacing the green. It’s dope, and I must have it in my collection.
Proteus: 76 Soldier: 76
Proteus: 76
Blizzard Entertainment
Are you kidding me?!? This is a cleaner take on the Cyborg: 76 skin with a sharper black and gold theme. I love it very much. I don’t know that it will permanently replace Grillmaster: 76, but I will absolutely rotate this in from time to time.
Mechatron Pharah
Mechatron Pharah skin in Overwatch
Blizzard Entertainment
And it is. Very much yes. This black and purple version of Pharah’s Mechaqueen skin ticks all the boxes for me. Great job on this one as well, Blizzard.
Varsity D.Va
Varsity D Va skin
Blizzard Entertainment
This is a tweak on the fan-favorite Academy skin and I dig this one too. I don’t feel a massive sense of urgency to get this one, though. I can’t stop using the Cruiser skin anyway.
Arctic Ops Baptiste
Arctic Ops Baptiste skin in Overwatch.
Blizzard Entertainment
This is, unfortunately, the least exciting one of the bunch. It’s a mostly-white version of Bap’s Desert Ops skin, which I actually think is cooler than this one.
Challenge Skins
Along with the six Legendary remixes, you’ll have one more chance to snag a few previous weekly challenge skins. Play 27 games across each weekly period in Arcade, Quick Play and Competitive to unlock them. Wins count for double. Play nine games for a related player icon and 18 for a spray.
The skins you can unlock are:
As I’ve mentioned before, Comic Book Tracer is one of the best-ever skins in Overwatch. Yo sees it the comic book-esque sound effect that plays when you nail a melee attack. It’s the greatest.
Along with all these skins, Overwatch Anniversary Remix: Vol. 3 brings back the brawls from seasonal events: Overwatch Archives Missions (and more difficult challenge missions), Lúcioball, Junkenstein’s Revenge (plus the challenge missions), Freezethaw Elimination, Mei’s Snowball Offensive, Snowball Deathmatch, Yeti Hunter, Capture the Flag and Bounty Hunter. These will be available in the Arcade on a rotating basis.
I’m feeling a little melancholic that this will be the last-ever Overwatch 1 event, so I’ll be playing all the limited-time modes over the next few weeks. Here’s hoping they’ll pop back up from time to time in Overwatch 2, but I never want to miss a chance to dive back into Storm Rising in any case.
US star Ashton Kutcher has revealed he has been secretly battling a serious autoimmune disease that affects his hearing, sight and ability to walk.
The That ’70s Show actor shared that he is “lucky to be alive” – and it took more than a year to rebuild his vision, hearing and balance.
WATCH THE VIDEO ABOVE: Ashton Kutcher and Mila Kunis urge US businesses to withdraw from Russia
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“Two years ago, I had this weird, super-rare form of vasculitis,” Kutcher, 44, said in an upcoming episode of Running Wild with Bear Grylls: The Challenge, released by Access Hollywood.
“Knocked out my vision, knocked out my hearing, knocked out like all my equilibrium.
“It took me a year to build it all back up.
Actor Ashton Kutcher attends The 23rd Annual Screen Actors Guild Awards in 2017. Credit: Fraser Harrison/Getty Images
“You don’t really appreciate it until it’s gone, until you go, ‘I don’t know if I’m ever gonna be able to see again. I don’t know if I’m gonna be able to hear again, I don’t know if I’m going to be able to walk again.
“I’m lucky to be alive.
“The minute you start seeing your obstacles as things that are made for you, to give you what you need, then life starts to get fun, right?
“You start surfing on top of your problems instead of living underneath them.”
What is Vasculitis?
Kutcher shared his health journey with adventurer and presenter Bear Grylls as they hiked through brambles and trees.
Vasculitis occurs when the body’s immune system attacks veins, arteries and small capillaries.
Inflammation occurs as a result, which can have the effect of narrowing blood vessels and restricting blood flow.
This in turn can cause organ damage or prompt aneurysms.
Ashton Kutcher and Mila Kunis in 2022. Credit: mike coppola/Getty Images
If an aneurysm bursts, it can cause internal bleeding which can lead to death.
Vasculitis complications took the life of actor-director Harold Ramis in 2014.
According to the Australasian Society of Clinical Immunology and Allergy the disease is “relatively rare”.
Kutcher has kept a lower profile since taking a break in his career from 2014 to 2022.
That ’70s Showcast. Credit: FOX Image Collection
He and his wife Mila Kunis, now 38, married in 2015 and welcomed two children, Wyatt, seven, and Dimitri, five.
Kutcher and Kunis met on That ’70s Show in 1998, starring as an on-screen couple Jackie and Michael.
– with CNN
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Australia’s latest major winner, Cameron Smith, is “gone” to the LIV Golf Series at the end of the PGA playoffs, according to fellow Aussie golfer Cameron Percy.
Key points:
Cameron Smith last month took issue with being asked about rumors tying him with LIV
Tour veteran Cameron Percy says Smith and Marc Leishman are joining the Saudi-backed tour
Percy says LIV representatives approached Adam Scott in 2017
Percy said Smith, 28, and another Australian, Marc Leishman, had already signed deals to exit the PGA Tour.
Smith was infamously asked about his intentions immediately after winning his first major at St Andrews last month, and refused to answer, taking issue with the question even being asked.
“I just won the British Open and you’re asking about that. I think that’s pretty … not that good,” he said.
“I don’t know, mate,” he added.
“My team around me worries about all that stuff. I’m here to win golf tournaments.”
LIV is backed by the Public Investment Fund of Saudi Arabia, which has ties to the Saudi government, and there are concerns the tour is being used as soft diplomacy for it.
Percy said the humanitarian record of the Saudi government should be of concern to players signing with the breakaway tour.
“The more and more you look into it, some people don’t care, some people have got a conscience and do care,” he said.
“It really comes down to, you know, ‘They just executed 80 people this week, just chopped their heads off’. They’re not the nicest people in the world.
“Do you just look past that and go, ‘Oh well, I’m rich, I don’t really care’? It’s a tough one, it really is.”
Cameron Percy says the golf world has known about LIV for years.(Getty: Dylan Buell)
Percy, 48, finished in the top 10 at the Wyndham Championship last week, just ahead of the start of the FedEx Playoffs this week.
Percy said a conversation with Adam Scott, who is on the record saying he would consider a move to LIV, helped open the eyes of his fellow countrymen to the new tour.
Percy also said the deals for Smith and 38-year-old Leishman, currently ranked 56th in the world, were lucrative.
Fox Sports reported Smith was offered more than $US100 million ($144 million).
“[Scott] said he met with [LIV] in 2017 — they were ready [to] do all this. So, the tour has known for a long time that this stuff is in the works,” Percy said.
NSW Treasurer Matt Kean has wanted, and expected, the deputy leadership of the Liberals since before Dominic Perrottet became premier. Kean missed out the first time, but he was not going to let that happen again.
The unashamedly ambitious Kean was sure he had the role secured after the fall of his friend Gladys Berejiklian, but a late factional deal last year saw now dumped trade minister Stuart Ayres snatch the position from him.
Treasurer Matt Kean has long coveted the deputy leadership of the party.Credit:Kate Geraghty
On Tuesday, Kean finally secured the deputy role, which one minister mocked as nothing more than a “participation ribbon”, with the support of the Liberal party room. Grandiose it may sound, but the role has few formal functions other than carrying out menial party work for the premier.
However, more enticing to Kean was probably the fact the two most recent deputies, Berejiklian and Perrottet, were in the box seat when the premier before them fell. There is no doubt Kean sees himself as a future leader.
When Kean missed out last year, Perrottet sold it to him as the government needed a strong western Sydney representative in the leadership team. But with Ayres, the Penrith MP, now on the backbench, it seems geography is no longer important. Kean is from the Liberal heartland seat of Hornsby.
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Kean has branded himself as a climate change warrior and a champion of women. He has been successful in filling policy voids for women that have been previously ignored, including a major intervention into childcare.
However, Kean has failed to sort his own house. The two recent casual vacancies filled in the upper house were both handed to men. They were spots to be filled by his moderate faction of him, but Kean did not seek out women.
Kean, for all his talk – including making demands on corporates to put more women on boards – was not prepared to forgo his ambition to promote a woman to the deputy leadership.
A massive search effort was underway Tuesday morning for the missing California 16-year-old Kiely Rodni, who vanished after telling family she was going to head home from a high school graduation sendoff early Saturday.
The Placer County Sheriff’s Office has said they were investigating a possible abduction because the girl’s SUV was also unaccounted for. Rodni graduated from high school two years early, and it is unlike her to run away or fail to come home, according to her mother, Lindsey Rodni-Nieman.
A spokesperson told Fox News Digital on Tuesday that investigators were still “exploring all possibilities” and confirmed that teens were using alcohol and drugs at the party.
Rodni had enough drinks to become drunk, according to her friend and another recent graduate, Sami Smith, who added that she did not believe the teen would have driven under the circumstances.
CALIFORNIA 16-YEAR-OLD VANISHES IN POSSIBLE ABDUCTION AFTER PARTY; MOTHER PLEADS FOR HER RETURN
Kiely Rodni shown in two undated photos (findkiely.com)
“At the point when I left, I thought she was going to stay there,” said Smith, who departed the campground just a few minutes before Rodni was last seen. “Everybody was camping. It was late enough that she should have stayed. Ella She’s not the type to go and drunk drive or anything.”
Smith said she spent most of the night with Rodni.
“For the amount of drinks we both had together, she’s not that dumb,” she added. “I remember we were partying together. Ella She was having fun. Ella She seemed really happy — she was like normal, just on an adrenaline rush. Saying ‘Hi’ to everybody.
UTAH FARMER DYLAN ROUNDS NOW MISSING FOR 2 MONTHS AS 20TH BIRTHDAY APPROACHES
Search teams gather to investigate Kiely Rodni, who went missing on Aug. 6, 2022, after attending a party. (Derek Shook for Fox News Digital)
But Rodni-Nieman says her daughter texted her around 12:15 am Saturday and said she was heading home. The family lives about 10 miles away from the campground at a lodge south of town.
Smith, 18, said that there were plenty of attendees whom she had not previously met but none who seemed suspicious, gave unwanted attention or followed the pair around.
She said she didn’t notice anyone much older and that the party consisted mainly of teens, recent graduates and some college students from the surrounding areas. Some came from as far away as San Francisco, she said ella, but that was not unusual because the area is a summer vacation town.
Authorities briefed a search-and-rescue team ahead of Tuesday morning’s search for missing Kiely Rodni near Lake Tahoe. (Derek Shook for Fox News Digital)
“We met a few strangers together,” she said. “We both tended to trust people. I say ella ‘tended to’ because now I do n’t think I will continue to trust people. But ella she’ll give anyone the benefit of the doubt.”
Search crews and police from multiple counties scoured through the area beginning early Tuesday morning.
They started by searching Lake Prosser by boat as the land-based search party gathered on the shoreline.
The search also included several aircraft, including helicopters and airplanes flying in formation above, and all-terrain vehicles, including four-wheelers, trikes and dirt bikes. There were search dogs present and at least 100 members of law enforcement visible, including members of the FBI, who initially focused their attention on Campsite 4.
Crews pulled the boats from the water around noon and FBI agents were seen knocking on doors in the area. The FBI did not immediately respond to a request for comment.
“Right now, we are currently searching many areas,” said Angela Musallam, the Placer County Sheriff’s public information officer.
The party, which stretched from Friday night into Saturday morning at the Prosser Family Campground in the Tahoe National Forest, involved dozens or hundreds of kids from a handful of nearby communities in the rural area, including Truckee and North Lake.
Around 12:15 am, she texted her parents that she was heading home. However, according to her mother de ella, no one has come forward to say they saw her leave de ella, no one was with her at the time, and nobody could remember when she left or see her car drive away.
Her phone, which last pinged at the party, has been turned off. Authorities say her vehicle de ella, a silver 2013 Honda CRV with the California license plate 8YUR127, is also unaccounted for.
Authorities are urging teens who were at the party to come forward, and the community announced a “Teen to Teen” information gathering event from 5 pm to 7:30 pm PT at the Tahoe City Save Mart in an effort to get attendees talking.
Search teams gather to investigate Kiely Rodni, who went missing on Aug. 6, 2022, after attending a party. (Derek Shook for Fox News Digital)
“We have had a lack of reach out from many Tahoe kids who were at the party or may know any information,” the announcement reads. “We are only looking for information such as who was at the party that you may have seen [and] the times you came and left.”
Rodni’s mother is asking anyone who attended the party and their parents to look through their photos, social media posts and videos for any signs of Rodni. Home and business owners in the surrounding area are also asked to check their surveillance cameras for signs of the girl on Aug. 5 and Aug. 6.
MISSING FLORIDA MOM ERICA JOHNSON DISAPPEARS AFTER BOARDING CAPE CORAL GREYHOUND BUS BOUND TO TAMPA: POLICE
Search teams gather to investigate Kiely Rodni, who went missing on Aug. 6, 2022, after attending a party. (Derek Shook for Fox News Digital)
Storefronts and signposts in the surrounding area and as far away as Reno have been plastered with missing-person flyers.
Rodni is described as 5 feet, 7 inches tall and around 118 pounds. She has blonde hair and hazel eyes. She has a tattoo on her ribs of the number “17.”
GABBY PETITO’S PARENTS ANNOUNCE WRONGFUL DEATH LAWSUIT AGAINST MOAB POLICE OVER BRIAN LAUNDRIE 911 CALL
Kiely Rodni was last seen at a rural campground near the border of California and Nevada around 12:30 am, Saturday, according to local authorities. (Placer County Sheriff)
She was last seen wearing green Dickies pants, a black tank top and jewelry, according to authorities. She has a nose ring and several other piercings.
Anyone with information is asked to call the Placer County Sheriff’s Office’s dedicated tip line at 530-581-6320. Callers can remain anonymous.
CLICK HERE TO GET THE FOX NEWS APP
The California Highway Patrol is also urging anyone who sees Rodni to call 911.
The family is offering a $50,000 reward for Rodni’s return, and Smith is asking members to share Rodni’s story, raise awareness and call in any information that may help investigators.
She has also helped organize a website, findkiely.com, where friends and family are sharing the latest information they have gathered.
Fox News’ Ashley Papa contributed to this report.
Michael Ruiz is a reporter for Fox News Digital. Story tips can be sent to [email protected] and on Twitter: @mikerreports
A farmer who looks set to lose his farm after taking on his bank over what he says were dodgy lending practices has vowed to keep fighting for accountability in financial services.
Key points:
Ronald Feierabend has accused Suncorp Bank of withholding essential documents that would have allowed him to resolve his case for free
University of Wollongong’s Andy Schmulow says the regulatory system should require banks to provide they acted fairly
A review has identified complex laws and difficult definitions were key problems in the financial sector
It comes amid fears more Australians could find themselves at the mercy of a financial mediation system in need of review.
Ronald Feierabend has been in dispute with Suncorp Bank since he discovered discrepancies in the budget being used to estimate the profitability of his sugar cane farm Wingadee, near Bundaberg, during an application to refinance in 2014.
A series of mediations failed to resolve the dispute, and in 2021 the Supreme Court ruled that Suncorp could appoint receiver managers and sell the farm to recover outstanding costs.
The property will now be auctioned on September 1.
According to prudential regulation expert Andy Schmulow, the outcome was a sign of the failures in a debt mediation system that still favored the banks.
Mr Schmulow has called for a complete overhaul of the financial dispute resolution process.
‘They’re circling like vultures’
Throughout his long-running complaint, Mr Feierabend said he had been subjected to extreme pressure exerted by the bank, which he accused of not acting in good faith.
Police escorted Mr Feierabend off his farm in March.(Rural ABC: David Barnott-Clement)
In March, police escorted him off the farm.
“There’s been people who have been eyeing off the property, and you know, they think it’s going to be a fire sale,” Mr Feierabend said.
He alleged the bank withheld essential documents and failed to disclose his right to a free, internal dispute resolution process that would have saved him tens of thousands of dollars and resolved the matter sooner, to claim the bank denies.
“Emotionally, the way I’ve been attacked, I feel like I’ve been violated,” he said.
Suncorp Bank says it works within all legislative requirements and best practices.(AAP: Dave Hunt)
“I’ve seen the farm deteriorate into such a state that the whole farm needs to be refurbished or rebuilt.”
A spokesman for Suncorp Bank said due to confidentiality constraints, it would not comment directly on Mr Feierabend’s case.
“We are committed to working with and supporting our customers and take our responsibilities as a longstanding Queensland bank, with strong roots in agribusiness, very seriously,” he said.
“Suncorp Bank has robust internal processes and resources to ensure our customers are supported, including the option of having an impartial internal review of a complaint.”
Twin Peaks regulation fails
Australia’s financial regulation system is often referred to as the “twin peaks” model because of the interaction between the Australian Securities and Investment Commission (ASIC), which regulates the conduct of the sector, and the Australian Prudential Regulation Authority (APRA), which is charged with ensuring the stability of the broader financial system.
Dr Schmulow, who is a senior lecturer in the School of Law at the University of Wollongong, said it was a model that had solved many issues in the financial sector but failed to protect consumers.
“The Australian model is of great international interest, but perhaps of more international interest is why has such a good model failed so spectacularly in terms of regulating conduct in the financial industry?” he said.
“How do we know it’s failed so spectacularly? Well, because that’s the evidence [that] came out of the royal commission.”
“The reasons why it has failed are independent of the model itself… [and] would have caused the same failures had we used any other models for the regulation of the financial industry.”
Dr Schmulow says the culture at banks has not changed since the royal commission.(Supplied)
Dr Schmulow cited the broad remit of ASIC, the size, complexity, and in some cases, contradictory nature of the Corporations Act 2001 and timidity in the regulators as reasons the system was still failing after the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.
Instead, he advocated for a “principles-based, outcome-determined” regime that would allow a customer to argue their case on the basis of fairness.
“In Suncorp’s case and their loans to Mr Feierabend, it would have been up to Suncorp to prove they had not acted unfairly,” he said.
“From what it sounds like, Suncorp has acted in a manner which is just unconscionable.
“Hopefully, under a principles-based regime, they wouldn’t get away with it.”
‘Bait and switch’ code duping consumers
In a statement, Suncorp Bank’s spokesman said the bank “ensures we work within all legislative requirements and best practice, including the Banking Code of Practice.”
But Dr Schmulow said the voluntary code was a smokescreen, and as more people found themselves in financial distress, it would be shown to be ineffective at changing the behavior of institutions towards their customers.
“I would actually say that the banking code of practice and its enforcement provisions are something akin to a bait and switch trick,” he said.
“It’s a deception that is put before the consumer to make the consumer think that they have rights of recourse.
“I can give you an assurance there will be more scandals because the culture in our big banks has not changed.”
A spokesman for the Australian Banking Association (ABA), which established the code, said it was enforceable through the Australian Financial Complaints Authority (AFCA) and contract law.
“It clearly sets out the obligations of banks to ensure fair dealings with customers who have a dispute, including obligations by banks to comply with the Australian Securities and Investment Commission (ASIC) guidelines in resolving complaints,” he said.
Farmer fighting ‘to the death’
Mr Feierabend has appealed to ASIC, AFCA, APRA, the ABA, the Australian Consumer Complaints Commission (ACCC) and numerous senators about his treatment from the bank.
AFCA said it could not investigate his claims due to time limits on when they could consider a complaint, while the other agencies determined his complaint to be outside their jurisdiction and referred him back to ASIC.
In a statement, a spokesman for ASIC said reports of misconduct were received in confidence, and so it would not comment on Mr Feierabend’s case or confirm if it was investigating.
Mr Feierabend has appealed to the regulators in his dispute with Suncorp Bank.(Rural ABC: David Barnott-Clement)
But Dr Schmulow said the broad scope of ASIC, coupled with a culture that did not aggressively pursue misconduct, meant individuals rarely had a chance to have their complaints investigated.
Mr Feierabend said despite all the setbacks, he had no regrets, and his legal team was continuing to investigate the mediation process.
“This is a matter of right and wrong, and for me, it’s a fight to death now,” he said.
“I still believe right to the bottom of my heart that we will come out of this with the truth.
“I know I’m not the only one in this position. I would do it again. I couldn’t do it any differently.”
As part of the response to the royal commission, the Australian Law Reform Commission is currently reviewing the laws that govern the sector, with a view to simplifying them.
An interim report tabled in parliament in February 2022 identified legislative complexity, overly prescriptive legislation, difficulty with definitions and obscured goals as key problems.
In March 2022, the UK Competition and Markets Authority (CMA) fined the lighting products supplier, Dar Lighting Limited (Dar), £1.5 million for engaging in resale price maintenance (RPM), in breach of the UK prohibition against anticompetitive agreements, with the text of the CMA’s 241-page decision only having been made available earlier this summer.
While the decision is one of many by the CMA in recent years to tackle illegal RPM practices (for example, see our recent alert on the surge of RPM enforcement all over Europe here), this case is different in that its focus is not on direct and explicit contractual terms imposing RPM, but rather on the perception that Dar’s sales partners got from messages conveyed to them in relation to their ability to offer product discounts.
GIVE’S CONDUCT
The CMA found that Dar, which operates a selective distribution system to sell its domestic lighting products, restricted its retailers’ freedom to set their own online prices and to offer discounts for the products they onsold.
More specifically, the CMA’s investigation focused on a number of terms and provisions contained in Dar’s selective distribution agreements with its resellers, as well as Dar’s branding guidelines, which contained strict instructions relating to the use of brand names and logos, product photography, typography, and brand colors on the resellers’ websites. Although the CMA noted that these instructions “were not explicitly or directly about the price at which the products were being sold but about product presentation” and that they did not “explicitly prevent discounting,” the UK competition watchdog nonetheless found that the manner in which these instructions were communicated and enforced by Dar created a perception amongst the brand’s authorized resellers that discounts were not permitted because they were not compatible with the goals of the selective distribution system.
The CMA relied on two key types of contemporary evidence to establish that, in the absence of written price-fixing obligations, Dar’s practices in effect prevented its resellers from offering sales discounts to customers:
Dar’s internal communications, which showed a perception within the company itself that discounts and sales campaigns were not compatible with the spirit of Dar’s selective distribution programme, with employees reporting internally those authorized resellers who would advertise discounts; and
External communications with Dar’s resellers, including via WhatsApp, which the CMA concluded gave rise to an anti-discount culture for online selling, thus creating a perception amongst authorized resellers that Dar’s selective distribution system somehow allowed the brand to prevent discounting. For example, a Dar employee sent the following WhatsApp message to a reseller explaining why the reseller was not admitted to the selective distribution network: “To be able to control the prices customers who have [Dar brand] must have a designated area with an approved [Dar brand] display” (emphasis added).
The CMA clarified that selective distribution is a legitimate way for a business to make products available only to select retailers, who meet certain criteria, and is a useful tool for brand protection. However, the authority highlighted that brands who adopt a selective distribution model must take particular care to ensure that the implementation/enforcement of the selective distribution system does not lead to any infringement of competition law. It is in this context that the CMA held that Dar’s implementation and enforcement of its selective distribution system ran afoul of the UK prohibition against anticompetitive agreements.
RPM
The CMA ultimately concluded that Dar effectively operated and enforced a pricing policy that would ensure authorized resellers would not advertise or sell Dar products online below a certain minimum price specified by Dar. In the UK and EU, such practices amount to illegal resale price maintenance and constitute a so-called “hardcore” restriction of competition that cannot benefit from the safe harbor applicable to vertical agreements.
RPM practices are amongst the most hotly enforced cases by the CMA. For example:
In 2021, the CMA fined Roland £4 million for illegal RPM with respect to electronic drum kits and components;
In 2020, GAK (Digital pianos, digital keyboards, and guitars), Fender (guitars) and Korg (synthesizers and high-tech equipment) received penalties for RPM of £0.3 million, £4.5 million, and £1.5 million respectively;
In 2019, £3.7 million was levied on Casio (digital pianos and keyboards) also for engaging in resale price maintenance; and
In 2017, the CMA fined the National Lighting Company £2.7 million for restricting its resellers’ freedom to set resale prices online.
Finally, it is worth noting that Dar’s fine was subject to a 20% discount because it admitted it had broken the law and settled the case with the CMA. This also means that the CMA decision will not be appealed further.
KEY TAKEAWAYS
There are a number of very important points that brands and manufacturers need to be aware of when structuring and enforcing their distribution strategies:
Selective distribution systems remain a great tool to ensure a high level of quality protection for brands. Dar itself moved from open to selective distribution because, as the CMA found, it became concerned about “maintaining the quality of its brands and customer service levels, as well as preventing some Resellers from free-riding on the customer support and marketing investments made by other Resellers.”
What the CMA’s decision makes clear, however, is that selective distribution cannot be misused to give authorized resellers the impression that the system is a front for restrictive practices, such as illegal resale price maintenance.
The success of any well-designed distribution system, which does not contain any direct or express terms that restrict competition, rests and falls on how the system is enforced and implemented in practice. This means that brands should take great care to adequately train their sales personnel to ensure that there is no misinterpretation in relation to the genuine and legitimate nature of their commercial strategies. In the case of Dar, it was the internal and external communications, including via WhatsApp, that ultimately proved fatal. It was not Dar’s contracts or guidelines that restricted competition but rather the way in which the distribution model was conveyed to commercial partners.
Dar’s case shows that it is not enough to comply with competition law on paper – for a competition authority, substance will be more important than form. Competition law compliance should thus be weaved into the cultural fabric of each business.
The CMA has just published its key legal instrument regulating vertical agreements – the Vertical Agreements Block Exemption Order, which came into force on 1 June 2022, and the associated CMA guidance published on 12 July 2022. These documents remain the hardcore nature of RPM practices and make it clear that such conduct is highly unlikely to be regarded as compatible with competition law. The recent nature of these legal instruments could also mean that the CMA will be looking at supply and purchase agreements, and in particular at RPM, very closely in the coming years.
Miranda Kerr walks “barefoot on the grass” to help her “reconnect” after a long flight.
The 39-year-old Australian model – who has Flynn, 11, with ex-husband Orlando Bloom and Hart, four, and two-year-old Myles with spouse Evan Spiegel – has revealed the way she copes with jet lag is to take the time to “rebalance” herself.
Speaking to PORTER, Miranda said: “I like to go for a walk outside when I arrive and, if possible, go barefoot on the grass to reconnect, ground myself and have a bit of time to rebalance. Melatonin is also great to help get you in the time zone.”
Victoria Beckham swears by magnesium, herbal tea, and sticking to an exercise routine no matter how tired you are.
The 48-year-old fashion designer told the publication: “Jet lag is really difficult. I try not to use any sleep medication – instead, I’ll take magnesium and have a herbal tea and try to go to sleep, but it’s easier said than done. If you are a working mum, you have to get up and power through. And I always do my workout – I never skip it, even when I feel incredibly tired, because it gives you more energy and gets you back into your routine. I don’t have the luxury of napping in the day, so I land and get straight into the time zone.”
Meanwhile, Miranda recently revealed she travels light when she goes on holiday with her family and has learned to mix and match a limited number of pieces to create “endless” outfits.
She said: “Start with easy crochet cover-ups in black or white. They’re so easy to pack and never wrinkle. Then throw in denim shorts and mix and match any of your swimsuits to create endless outfits. Bring a simple white cotton shirt and a great pair of flats, and you’re set.”
When it comes to shoes, Miranda opts to pack comfy Nike sneakers and neutral sandals and heels.
She added: “I like to mix high and low..”
The Kora Organics founder urged people to slow down and cherish their vacation time for the sake of their mental health.
She said: “As a mother of three boys, life goes by so quickly. Embrace your time together while you can because life gets busy. I think it’s important for our children to see how important work ethic is — but it’s equally important for them to see how much we value quality time as a family.”
