Archive for: November 2012

Malala Survives With No Brain Damage

Malala Yousafzai, the brave 14- year old Pakistani activist and blogger, was almost shot to death by a raid made by the Pakistani Taliban, who are well aware of her activities and her fight to provide education to women, which breaks one of the Taliban’s sacred principles. Today, she has recovered, yet unable to speak due to a Tracheotomy, but has suffered no brain damage and is well on her way with a few more surgeries.

Malala Yousafzai of Swat Valley was shot by three assailants, who stopped the van carrying her and two other girl companions. The three girls were shot by the Taliban, which left the two companions non-fatally wounded but having Malala an injury to her head and a bullet lodged on her neck. In the United Kingdom, Birmingham’s medical professionals quickly helped the young child recover, reducing pressure on her head and removing the bullet on her neck.

Worldwide, backed support for Malala’s cause, courage and ideals increased. In Pakistan, thousands of citizens condemned the attack of the Taliban, calling them cowards and shaming their name. Madonna called Malala’s name in one of her concerts and offered a song to her. Angelina Jolie donated $50,000 to a charity in the name of Malala Yousafzai.

Government leaders from the United Nations to local Pakistani Governments were inspired by her incident and refused to bow before terror, declared November 10 a day for remembering Malala’s bravery. Interior Minister for Pakistan Rehman Malik declared Malala’s Krushal Public School to Malala Public High School and has also declared a $1 million bounty for the head of Taliban spokesperson Ehsanullah Ehsan for claiming responsibility for the attack.

One of the shooters, named Attah Ullah Khan, who is 23 years old, is being sought after by Pakistani Authorities.

Medical professionals state that Malala’s survival in the ordeal was “a miracle” and it is more miraculous that she did not suffer any memory loss due to the head damages she received.

Source: CNN

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Banks Face More Than £16 Billion in Compensation Claims

Analysts state that banks will need more than £13 billion to cope up with the entire UK PPI crisis. With the Financial Ombudsman going over 1,500 claims on a daily basis and having reached its 500,000th claim, banks will need to swallow the consequences.

The entire UK PPI bill is at £13 billion, with Lloyds leading with £4.3 billion in total. Barclays came next with £2 billion. HSBC, RBS and Santander each have £1.1, £1.3 and £500 million respectively.

The third quarter report indicates that Barclays will need more than the £700 million it had promised to set aside additionally with its £2 billion PPI bill. Lloyds is also facing an additional £2.3 billion for PPI compensation. In total, analysts state that a compensation cost of £16 billion should see the PPI crisis by the end during the year 2016.

The FOS mentioned that banks continually slow down the PPI claims process by delaying and hassling their customers. Against the effect, the FOS has proposed a no-claim payout for customers mis sold PPI in the future. This means that customers can be compensated without making a claim by regulators who would work with banks to internally sort out affairs.

The Financial Services Authority also proposes the Financial Conduct Authority to revamp the banking incentives system believed to breed “Bonus Chasers” who use unfair sales methods to sell PPI to customers who are obviously inelgible for it.