Deutsche Bank Mistakenly Transferred $6B To American Hedge Fund Client's Account: FT Report

A junior member of the Deutsche Bank foreign exchange sales team nearly cost the Bank billions at a time when it is already under intense scrutiny from regulators. He accidentally sent a hedge fund client $6 billion while their boss was on holiday.

[Image 1: A junior member of the Deutsche Bank foreign exchange sales team was reportedly responsible for Deutsche Bank's mistake ( M. Spencer Green/AP)]

[Image Courtesy: http://static.standard.co.uk/s3fs-public/styles/story_large/public/thumbnails/image/2015/10/20/10/Trader-headinhands.jpg]

The client supposedly received a $6 billion payment due to a slip-up from the bank's foreign exchange desk in June. However, the money was recovered the same day. Nevertheless, the incident was reported to the U.S. Federal Reserve, the European Central Bank and the UK Financial Conduct Authority reported the Financial Times.

The details emerged yesterday just hours after the German investment bank said that it would ditch several of its top managers as part of a shake-up of the struggling business under its new British chief executive.

It was believed that the junior trader had erroneously processed a gross amount, instead of a net value. In other words, the trade had “too many zeroes,” one of the members of the staff told the newspaper. Although it was only a virtual transaction, it was enough to cause a scare.

Neither the employee’s name has been announced, nor was the Deutsche Bank available for comment.

Two co-chief executives of the bank, Juergen Fitschen and Anshu Jain had resigned in June following alleged slip-ups and missed profit targets. They were replaced by the new co-CEO John Cryan.

The new co-CEO John Cryan is splitting its investment bank into two separate unit’s structure after €6bn third quarter loss. Cryan plans to shed assets and shrink the bank and has launched a major business and management shake-up, as part of a strategic overhaul

Cryan had sent a memo in July to employees citing “antiquated and inadequate technology” and too much reliance on “manual labor” as core problems, which have hurt the bank’s efficiency.

Bank Errors in the range of $50,000 to $100,000 occur at times, and a big erroneous trade can influence the market. It is unclear whether Deutsche Bank’s June error had any effect on currency prices, reported The Wall Street Journal

Nevil Shute - A Town Like Alice Review

I happened to read this novel, while in school. I was a western novel freak and I still don't know how this novel got into my head. Maybe, it was to show others, that I too read books, other than comics and westerns.

However, this book was the one that made me start a long over affair with books, other than westerns.

Unfortunately, I am now more dependent on the net and movies now, and it is quite sad for someone who used to read a book a day. Although, I do try and catch up, but my attention wanders soon after. Maybe the love for books will return some day.

It was an uncle who introduced Nevil Shute to me. Uncle Radhakrishnan (RIP) was an avid reader. He used to read and smoke his "Scissors" with a cup of tea for hours. I used to be in awe just watching him. He then used to tell me the stories that he had read. He used to be busy with office work, and slowly and he would ask me to read and complete the story. Looking back, I think that was the turning point, when Alice came in to my head.

Now, you might be wondering what made this book return now.... maybe because, I was watching Alicia Silverstone’s "Clueless" the other day... which by the way is absolutely clueless......and I switched channels to one of the popular music stations... and the song, "Who the f'**k is Alice" was playing.... So, I thought this was a sign, a sort of deja vu... I must write a piece on the book and perhaps that will give uncle the much-needed rest from my head.

So, here it is... I am just "shueting out"

Now a small intro from wikipedia...

Nevil Shute Norway (17 January 1899 – 12 January 1960) was an English novelist, and aeronautical engineer who spent his later years in Australia. He used his full name in his engineering career, and Nevil Shute as his pen name to protect his engineering career from any potential negative publicity in connection with his novels. Shute died in Melbourne in 1960 after a stroke.

A Town Like Alice is a classic romance (among other things), by Nevil Shute. It was published in 1950, and reflects the bias and prejudices of its time, but it is also a powerful book about a smart, tough, resourceful young woman. It is more of an economic development and romance novel, when Shute had newly settled in Australia.

And a brief review on the story...from Carrie,

Jean Paget, a young Englishwoman, becomes romantically interested in a fellow prisoner of World War II in Malaya, and after liberation emigrates to Australia to be with him, where she attempts, by investing her substantial financial inheritance, to generate economic prosperity in a small outback community — to turn it into "a town like Alice" i.e. Alice Springs.

It is also a story about healing – after the war, Jean feels “About a hundred years old,” and when she finds out that Joe Harmon is alive, she begins to come alive herself again. Joe and Jean are touching, sweet, and sexy together and very funny. It is also a story that is very strong in depiction of place – London, Malaysia, and Australia come to vivid life in the pages. It is a short book full of powerful moments.

Jean survives in Malaysia because she takes time to learn the language, she respects the culture, and she adopts many Malaysian habits that make her life much easier and more comfortable.

I have read this two times, and each time and what strikes you is the way, Jean and Joe accept one another. They are very funny together, and are adamant that they will not attempt to change each other, even though they are both willing to change themselves. They trust each other completely and they balance each other well and they have great sex (off page – it’s implied)

The novel was adapted to a film in 1956 as A Town Like Alice. It starred Virginia McKenna and Peter Finch, directed by Jack Lee. This film was known as Rape of Malaya in U.S. cinemas, and by various other titles in non-English-speaking countries

Ivory And Rhino Horns Shipment Seized in Vietnam

Rhino Horns And Ivory Shipment Which Were Supposed To Have Originated From Mozambique Were Seized By Vietnamese Custom Officers.

[Image 1: Law enforcement officials examining the ivory and rhino horns that were seized by the customs officers at the Vietnamese Port of Da Nang.]
[ Image Courtesy : http://cdn.static.tuoitre.vn/i/s500/2015/08/DcGPBshZ.jpg ]

Customs officers in Vietnam confiscated nearly one metric ton of rhino horns and ivory, which were supposed to have originated from Mozambique.

Vietnamese state media reported on Friday, that custom officers at the Tien Sa Port in Vietnam have seized over 593 kilograms of elephant tusks  and 142 kilograms of rhino horn chunks, hidden in fake marble, as reported by Yahoo News.

The shipment of rhino horns and ivory were supposed to have originated from Mozambique, and that the haul was discovered at the central port of Da Nang yesterday, said the Vietnamese Tuoi Tre newspaper.

The rhino horn trade was banned globally by the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES) in 1977. However, the trade has flourished thanks to demand from Vietnam and China, who have been long been accused of being one of the world's worst countries for trade in endangered species, reported The ABC News.

Vietnamese people believe that the rhino horn can cure just about anything including cancer. Local superstitions also credit it with having aphrodisiacal and medicinal properties.

In Aug. 2014, France destroyed its stockpile of over 15,000 pieces of seized ivory products. While, China destroyed six tons of ivory and the United States burned down its ivory stockpile for the first time in Nov. 2014.

After intense pressure from conservation groups, Hong Kong, in May 2014, had destroyed about 30 tons of ivory seized from smugglers. This marked an important step in combating the illegal trade in elephant tusks, reported The Guardian.

Vietnam could be the latest country to destroy its stockpiles of illegal wildlife products.

Susan Lieberman, Executive Director of conservation policy, Wildlife Conservation Society applauded the move, especially because of Vietnam’s reputation as a global player in illegal wildlife trade and trafficking.

However, does destroying ivory save elephants? Karl Mathiesen from The Guardian investigates

Control Dramas Never Work The Way We Want

Control dramas never works.

Unless you’re dealing with a child and even then control tactics only causes resistance. You’re not running a boot camp, you’re running an organization. Begin by trusting that employees, by nature, want to do good work. Be available to give them advice.

It's obvious that it has become very difficult to function with images nowadays, i.e., on a virtual reality basis.

Now returning to where we started.... the market at present, works on a funny standard, that is a 1,2, and 1,2,0 and a 1,2,3 standard. So basically you got to write down each move [i.e., if you have the time and you are quick on the uptake, by market standards] or else, you are lost!

So, where were we now ?

Now did someone say some-thing ?

Must make an appointment with my psychiatrist!

Now let’s create A as the demand and B as the supply and C as the constant. so that whenever there is a break in communication we can always move over to the other side. In other words, you have to know both sides……….

Oops... ego beckons.... Let’s bathe in it.... or else C cannot control the neurotic....

Now where do the male and female elements fit in such a process ?

NLP or neuro-linguistic-programming should be a lot more organized.... as few understand it

One of the hottest ideas in today’s minds, or let me put it in a better way "the current market mindset" is driven by female masturbation....

P1ersonally, I have nothing against it nor in anybody pleasuring herself, it is just the fact that I don’t own a vibrator store. I could have at least could have made a killing out of this mindset.

Leaving bad investments and dreams aside, if this mindset continues we can definitely expect a lot of ideas to "flow"

The most interesting and humorous aspect is that the female community is going at it with no "hang-ups" let alone, any qualms in discussing same. It is just another "finger in the pie" aspect. Worst case - fingers in different pies, at least from their point of view....

They don’t even need a gynecologist these days

Does this mindset extend to the male species, some of you may ask ?

The male has been at it for centuries.

Unfortunately this turn of mindset has been quite shocking for the member. He for one has never thought of competition from the opposite species. In a way the male member has lost its usual regalia and position and as a result needs some coaxing to even to get in to his previous position, let alone get going...

The jamming is so much that he misinterprets any ideas and as a result he ends up in the man-hole - this for sure isn’t the right path to ecstasy.

It is funny that all this while.... the male species had their fingers in any hole they could find and suddenly, they are out of a job and landing in their own.

Absolutely a drastic thought....

We need a change...

Or else, after the glitter fades, beneath the leather and lace, we're just scared, trying to learn how to love, amid the gaudy after images. And when darkness falls, and we crouch naked and are alone in our slack, aging bodies, snuffling with fear, and snarling at the grinning phantasms of our toilet-flushed dreams, with a fistful of pills to keep us company.

For starters, we could try and think the opposite ... with their members and the male man-hole...

Masturbation apart, let's take on an another issue - to use our ability to laugh.

It is the most powerful thing that we have been given and it is our greatest gift, especially if we can "laugh at ourselves".

When you make fun of what frightens you, you get a mastery over it and gain control.

So go ahead, act silly.

Let yourself act silly and share it.

What is Content Marketing

Content marketing is the new market formula for online advertising.

It gives businesses a whole lot of new opportunities in addition to the wide reach that it provides. It allows to businesses to penetrate their market objective faster and easier. In addition, it gives businesses that personal connection to its consumers which would have taken conventional advertising a lot more slower. It is faster, cheaper and lot less cumbersome compared to conventional advertising. In short, content marketing is knowing what your consumers want and translating that need through content.

The key to understanding content marketing is to know what tickles the market’s fancy. You have to put yourself into the customer’s shoes and start thinking like a consumer and make your content relevant. Make it feel that each word is addressed directly to the consumer. Once you have learned to achieve that personal connection with your consumer, you can easily achieve your market objective.

Basically, one of the easiest ways to retain existing clients is to show them that their product choice is still the best decision that they have made. It also makes them feel how valuable their brand is, and gives them a sudden urge to be a part of their lifestyle. This way, by going the content, the consumer is hooked on to the product thereby creating a brand loyalty to the product and is able to relate to the product on a personal level. This is what defines effective content marketing.

Three Things You Should Know Before Investing

It is a well-accepted fact that you invest your funds if you want to increase your wealth more successfully.

However, investments are considered risky, but smart investors minimize risk by educating themselves and also avoiding the common scams and frauds. Investment scams have risen in the last decade according to information from the BBB (Better Business Bureau and the FINRA (Financial Industry Regulatory Authority).

Listed below are three key steps to be aware of before you take the investment plunge.

Firstly, what exactly do you know about investment – One of the cardinal rules is that if you don’t understand an investment option, avoid it. If you plan to invest in stock funds, it would largely help if you first understand its methodology; how they work and operate. Most stocks and bonds are easy to understand and the funds such as mutual funds and exchange traded funds are also not too complex and are a good place to start your investment education. You can take on more complicated investments as your knowledge increases.

Identify and understand your risk tolerance – Prior to investing, it is better to understand your risk tolerance or how much risk that you will be able to withstand. The “financial risk tolerance” indicates the level of money that you can afford to lose, while the “emotional risk tolerance” indicates your emotional tolerance; whether a loss would put you out of your comfort zone into the anxiety zone.

The next step is about where you plan to invest - While there are a number of brokers out in the market; you have to consider all options depending on your needs and the cost of investing.

While investing can be a great way to build wealth, doing a little research before you plunge will go a long way.

What Is Chronic Fatigue Depression And How to Prevent It

I could research the net and go on about Chronic Fatigue Syndrome (CFS) and Fibromyalgia (FM)... but today, I'm too tired to go to all that effort (pun intended !)

So today, I will share something I do know about Chronic Fatigue Syndrome (CFS) .. I know about CFS quite well as I've lived with it for over 12 years..

Chronic fatigue syndrome or CFS is a puzzling condition wherein the afflicted experiences fatigue, tiredness and physical pain for a long period of time.  It is believed that there are over 2 million people who experience CFS in America. Chronic fatigue syndrome can frequently cause problems with work and social adjustment.

Chronic Fatigue Syndrome or CFS can be a very devastating problem if not treated with sufficient care and concern. Fatigue is defined as feelings of extreme exhaustion and tiredness. A person who suffers from chronic fatigue feels restless and is not able to perform his daily duties as he or she does not have the energy to do so.

Chronic fatigue depression is a complex disorder that cannot be improved by bed rest but instead deteriorates by any activity. People with intense fatigue often function at a significantly lower level of activity than they were capable of before the onset of illness.

It is widely perceived that there is no cure for fatigue syndrome. Sleeping, bed rest, and even relaxation will not much help in relieving chronic fatigue syndrome. As the body experiences physical pain and depression, it is also known as fibromyalgia syndrome. A person who is suffering from fatigue will be aware of what is happening to them, but is unable to do anything so as to function better.

Even healthy people are affected by this condition. They may experience weakness, extreme fatigue and also experience problems in concentration, muscles or lymph nodes and severe pain in joints. As per statistics it is women who are likely to be affected by chronic fatigue syndrome.

How To Treat Chronic Fatigue Syndrome

Chronic fatigue syndrome treatments are complex as the illness itself and there are no specific drugs in the form of medication, or anti-depressants for CFS.

What Is Sleep Apnea And How Is it Different From Narcolepsy

Since I was “technically” an epileptic, I was on the usual anti-epileptic drugs. However, little did the doctors realize that my real problem was narcolepsy and sleep apnea. Can’t blame the doctors because narcolepsy is usually mistaken to be a fainting or a seizure disorder.

As of now, my epileptic seizures have virtually disappeared, thanks to a good stress-reduction plan and my midday naps and good support from all around.

Another point I noticed was that I now rarely sleep off while watching television or at work, which was a pretty common thing during the earlier days. In other words, my sleep apnea and narcolepsy symptoms have also gone away..

But, what is sleep apnea and narcolepsy?

Google Reverses Its Policy On The Blogger Adult Content Ban

Days after announcing a ban on publishing sexually explicit images, Google has reversed its decision to impose the said blanket ban on adult content on Blogger.

Earlier this week Google announced its plans to change its content policy on Blogger. In a statement posted online, the company said that from March 23 this year users "won't be able to publicly share images and video that are sexually explicit or show graphic nudity."

The notice to Bloggers behind the "adult" door read:

"In the coming weeks, we'll no longer allow blogs that contain sexually explicit or graphic nude images or video. We'll still allow nudity presented in artistic, educational, documentary, or scientific contexts, or presented where there are other substantial benefits to the public from not taking action on the content.  The new policy will go into effect on the 23rd of March 2015. After this policy goes into effect, Google will restrict access to any blog identified as being in violation of our revised policy. No content will be deleted, but only blog authors and those with whom they have expressly shared the blog will be able to see the content we've made private."

This U-turn was mainly due to public outrage following its earlier announcement. The move could even have seen a mass exodus from the platform, which meant that Google had to take the negative responses into account.

Can We Survive Without Facebook and Twitter

Social media communication tools such as Facebook and Twitter have profoundly changed our lives and how we interact with one another and the world around us.

If we look back about ten years ago, apart from Orkut and MySpace (which were more like online friend communities), social media was virtually an unknown entity. However, in recent years social media has significantly impacted most of our daily lives and is going to only further influence us.

Tools such as Facebook and Twitter might have been unimaginable for most people at the beginning of this decade.

How Emotional Eating Can Sabotage Your Weight Loss Efforts

Am a binge and at times an emotional eater and was doing some research to overcome it... Below are the findings...please take note of it if any of you have this problem.

Remanufactured Transmissions Versus Rebuilt Transmissions

Its been a while that I have been drifting away from this blog's so called niche and that's technology and auto sections.

So I plan in focusing on these areas occasionally,or else this would just out to be a sister to my other blog, make money online through blogging.

Here goes...

Top Ten Adsense Earners In India

Just another additional post to my post a few days, confirming that you can make money by blogging.

Funnily most of these blogs are tech, and their main income is through google adsense.

These bloggers are not any superheroes, but normal human beings just like you and me who make money online through blogging.

Well... hope you also get inspired and make money blogging.

CLICK HERE TO FIND OUT