BP shares: What I think the oil price means for now and 2021

first_img TomRodgers has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Tom Rodgers | Wednesday, 25th November, 2020 | More on: BP “This Stock Could Be Like Buying Amazon in 1997” I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. Veteran industry analysts say a Covid-19 vaccine won’t reinvigorate the oil price and the market could take years to recover. So what does this mean for BP (LSE:BP) shares? Here’s my view for now and into 2021.With a 6.3% dividend yield and with a share price near 25-year lows, there appears to be value in buying the FTSE 100 energy giant. 5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…But what’s the real story investors need to know?BP shares the blameThe oil price has now recovered to $45 a barrel from historic low, even negative, prices in April 2020. But demand is still far below supply. And the US Energy Industry Administration thinks it will remain flat over the next two years.At the same time, BP CEO Bernard Looney has made a bold volte-face in favour of renewable energy. This move has boosted BP shares and made for a slew of good headlines. But it’s a fact that a significant proportion of BP’s income still comes from selling oil and oil products like plastics to manufacturers.Also, a lot of the major big-money investments BP has on the slate for the next 5–10 years remain in developing new oil discoveries. I counted five new upstream projects starting in 2020 and 18 for 2021 and beyond. The FTSE 100 giant says these will add a net of 900m barrel of oil equivalent per day to its annual production.This kind of global diversification has its advantages. If one project fails then BP shares won’t crumble because of it.BP Amazon playThere are better signs on the horizon for BP shares, though. For example, BP agreed a deal in December 2019 to supply Amazon’s European data centres with renewable energy. These data centres power the Amazon Web Services (AWS) cloud platform. BP will provide AWS with 122MW of new renewable power from one of Europe’s largest onshore windfarms in Västernorrland, Sweden. This is expected to go live in 2022. As I wrote earlier this year, AWS is essentially the utility company of the Internet. It makes Amazon $10bn a quarter and is growing at a stonking rate of 30% every three months. So I would expect this to be a long-term partnership chucking off huge amounts of cash to aid BP shares. BP also has massive multinational subsidiaries in solar power, onshore wind, biofuels, and especially electric vehicle infrastructure.That’s why I think BP shares will perform better than other oil supermajors like Royal Dutch Shell or ExxonMobil. What the future holdsBP has spent decades refining its approach to squeeze the maximum profit from its oil assets worldwide.And the £14.7bn write-down in the value of BP’s upstream projects also represents a long-term profit issue. It must be a bitter pill for long-term holders of BP shares too. Looney’s target to ramp up BP’s renewable power capacity by 1,900% by 2030 is laudable, yes. But it will require huge amounts of capital. Analysts think it will cost BP at least $60bn to hit this target.However, the risks of such large amounts of spending are now factored into BP shares, in my view. So, while there are risks on the horizon, to me BP shares still represent cracking value for 2021 and beyond. Image source: Getty Images. Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! Our 6 ‘Best Buys Now’ Sharescenter_img BP shares: What I think the oil price means for now and 2021 Enter Your Email Address Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. See all posts by Tom Rodgers I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Simply click below to discover how you can take advantage of this.last_img read more

Austin / Smart Design Studio

first_imgShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/486136/austin-smart-design-studio Clipboard Benvenuti Consulting Structural Engineers Planner Mjb “COPY” Year:  Photographs “COPY” Save this picture!Courtesy of Smart Design Studio+ 13 Share Australia Projects ArchDaily Photographs:  Courtesy of Smart Design Studio CopyAbout this officeSmart Design StudioOfficeFollowProductsGlassSteelConcrete#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureHousingApartmentsRefurbishmentRenovationSurry HillsRetailHousingRefurbishmentMixed UseAustraliaPublished on March 14, 2014Cite: “Austin / Smart Design Studio” 14 Mar 2014. ArchDaily. Accessed 11 Jun 2021. ISSN 0719-8884Read commentsBrowse the CatalogMetal PanelsAurubisCopper Alloy: Nordic BrassCompositesMitrexPhotovoltaic Solar Cladding – BIPV CladdingPanels / Prefabricated AssembliesTechnowoodPanel Façade SystemArmchairsUniForArmchair – ParigiLouvers / ShuttersBruagShading Screens – Perforated Facade PanelsAluminium CompositesSculptformAluminium Façade BladesCultural / PatrimonialIsland Exterior FabricatorsSeptember 11th Memorial Museum Envelope SystemWire MeshJakobWebnet in a Gymnasium in GurmelsDoorsLinvisibileLinvisibile Pocket Door | MareaPaintKEIMMineral Paint for Concrete – KEIM Concretal®-WLouversReynaers AluminiumSolar ShadingHandlesFormaniFitting Collection – ARCMore products »Read commentsSave世界上最受欢迎的建筑网站现已推出你的母语版本!想浏览ArchDaily中国吗?是否翻译成中文现有为你所在地区特制的网站?想浏览ArchDaily中国吗?Take me there »✖You’ve started following your first account!Did you know?You’ll now receive updates based on what you follow! Personalize your stream and start following your favorite authors, offices and users.Go to my stream Structural Engineers: 2013 Austin / Smart Design StudioSave this projectSaveAustin / Smart Design Studio 2013 Apartments Austin / Smart Design Studio Year:  CopyApartments, Renovation•Surry Hills, Australia ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/486136/austin-smart-design-studio Clipboard Architects: Smart Design Studio Year Completion year of this architecture project Urban Planning:Heritage City Plan HeritageDesign Team:William Smart, Glenn O’loughlin, Kirstin Lynam, Zig Peshos, Richard Storey, Troy MelvilleCity:Surry HillsCountry:AustraliaMore SpecsLess SpecsSave this picture!Courtesy of Smart Design StudioRecommended ProductsMetallicsStudcoWall Stop Ends – EzyCapEnclosures / Double Skin FacadesFranken-SchotterFacade System –  LINEAMetallicsSculptformClick-on Battens in Ivanhoe ApartmentsMetallicsTECU®Copper Surface – Classic CoatedText description provided by the architects. Austin is the refurbishment of a rundown warehouse into a new mixed development in the heart of Surry Hills. The existing warehouse building has been given a new lease of life, reorganizing its interior with a new extended ground level commercial space, two levels of high quality residential apartments, and a lower ground floor car park. The site is located in the inner-city fringe of Surry Hills, which is characterised by warehouses and Victorian terraces houses that in recent years have housed artist’s studios, galleries and creative work spaces.Save this picture!Courtesy of Smart Design StudioNew, beautifully proportioned and articulated rectangular openings are located within the original openings of the concrete beam and column façade. To give scale and gravitas to the building, these new hand-painted steel windows span over two levels and present as double storey windows. Though they appear bold and simple on first glance, a closer inspection reveals a window within a window: Save this picture!Second Floor Plan• Recessed bi-folding on the upper part, where two apartments are located;• Flush double-hung on the lower part, allowing the commercial space open up to the street and public domain. Save this picture!Courtesy of Smart Design StudioEach of these seven small windows has a slightly different location relative to the grid of larger windows. This is best described as an “eclipse” and was conceived as a subtle art based façade, the kind that we hoped would only be noticed by people who took the time to really study the facade, or even reveal itself over time. In rust red, to compliment the Hot Chile render, which is similar to the original colour of the building, and provide it with a distinct identity that compliments the bohemian character of Surry Hills. Save this picture!First Floor PlanThe apartments are simple, beautiful and light filled. Working within a wedge-shaped context has meant that each apartment is different from one another, although the material palette is consistent. The all-white, exquisitely detailed, interiors with grey floors are accented with full-gloss rust joinery. This is the focus of the apartments and presents as a pod to incorporate kitchens, laundries, studies and an abundance of storage. The penthouse apartment, with large rooms, stair void, saw-tooth roof and generous cantilever is a very special interior space with sweeping views over Surry Hills. The penthouse has a generous balcony running the length of the front and side of the building and the roof area covers this balcony offering protection from the harsher weather elements and creating more entertaining and outdoor living areas.Save this picture!Courtesy of Smart Design StudioThe Smart Design Studio principles of apartment planning, where utilitarian elements are concealed and reliance on doors is minimised are adopted. This, along with careful consideration for circulation and flow, creates elegant apartments that feel easy to live with. Save this picture!Courtesy of Smart Design StudioThe basement commercial area is split level floor with an abundance of light and was originally conceived as a restaurant space though it is now utilised as a successful retail store. The forms and details employed within this space reinforce the arechtiecture of this building, which is to have chunky warehouse character, through exposed concrete beams and slabs, complemented by refined forms, refined details and unusual combinations of materials. Save this picture!Courtesy of Smart Design StudioWe’ve retained the original company name on the building Brackenbury and Austin. Originally a warehouse for a timber yard and the manufacture of Lathes the business ceased producing equipment in the late 1950’s and the building has had a very varied from then until this recent transformation. Save this picture!Courtesy of Smart Design StudioThe building has been designed with an ESD focus and features include:• All spaces naturally ventilated using either a light well or roof skylights• Performance glass, concealed spandrels and external roller blinds.• Rain water collection and reuse for flushing toilets and watering plants.• Energy and water efficient fixtures and solar hot water to all the apartments, and• Through maximizing the reuse of the existing building. Project gallerySee allShow lessBerlin Wall Memorials Prove Controversial, Fall Behind ScheduleArchitecture NewsHASSELL Wins Competition to Construct Landmark Tower in SydneyArchitecture NewsProject locationAddress:632 Bourke Street, Surry Hills NSW 2010, AustraliaLocation to be used only as a reference. It could indicate city/country but not exact address. Sharelast_img read more

CAF Charity Account holders give £2 million to tsunami appeals

first_img Tagged with: Giving/Philanthropy Research / statistics About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving. AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis Stephen Ainger, CAF’s Chief Executive, said: “In this disaster we can see the real power and effect of giving. The factis that the UK public has taken the initiative and had a major impact inpersuading the government to respond at a higher level than normal. It seemsthat we are entering an era where the choices in giving can be as important as voting in influencing government.” CAF Charity Account holders give £2 million to tsunami appealscenter_img Howard Lake | 10 January 2005 | News  25 total views,  1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis Charities Aid Foundation (CAF) Charity Account holders have given over £2 million to charities’ tsunami appeals, with an average of £100 per person.All these donations are tax effective and so generate an extra 28% contribution from the Treasury. CAF adds that hundreds of new donors have also set up Charity Accounts over the past week and some charities have witnessed“a major growth in Direct Debits”, which illustrates a longer term commitment. Advertisementlast_img read more

#WeWontWait: Parkinson’s UK campaigns for funding for next step of research

first_img#WeWontWait: Parkinson’s UK campaigns for funding for next step of research Parkinson’s Awareness Week runs this week (10-16 April) and focuses on the urgent need for funding to unlock the next step of research developments into the condition.The We Won’t Wait campaign highlights the fact that levodopa, the main drug used in treating the condition, hasn’t changed in 50 years, with no current medication available to slow down or stop the condition’s spread.The first in a series of campaign videos features Donna, the third generation of women in her family to have Parkinson’s, with both her mother and grandmother diagnosed before her.  Donna is committed to supporting research into the condition to find a cure, as she worries for her own daughter’s potential future diagnosis.The Parkinson’s UK ‘#WeWontWait’ campaign aims to raise essential funds and awareness that will drive forward developments in Parkinson’s research and will hopefully help find more effective treatments that are desperately needed for the 127,000 people currently living with the condition.Last week Parkinson’s UK unveiled its improvements to donor journeys on its website, designed to make it easier for donors to give.  382 total views,  4 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis21 WATCH Parkinson’s UK CEO Steve Ford present the campaign:[youtube]https://www.youtube.com/watch?v=MOKtUNbQNUg[/youtube] About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving. Advertisementcenter_img  381 total views,  3 views today Tagged with: Individual giving AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis21 Howard Lake | 10 April 2017 | Newslast_img read more

Patrick Symmes and Marco Di Lauro deported

first_img RSF_en Organisation Patrick Symmes, a US journalist working for Outside Magazine and GQ Magazine, and Italian photographer Marco Di Lauro were deported on arrival at Sanaa airport after several days reporting on the Yemeni island of Socotra. March 12, 2011 – Updated on January 20, 2016 Patrick Symmes and Marco Di Lauro deportedcenter_img News Help by sharing this informationlast_img read more

Failte Ireland Chair steps down after Italy trip

first_img WhatsApp Previous articleFinn Harps v Bohemians LIVE on Saturday SportNext articlePeople urged to conserve water in Donegal News Highland By News Highland – August 15, 2020 Facebook Google+ DL Debate – 24/05/21 Pinterest WhatsApp Twitter News, Sport and Obituaries on Monday May 24th Important message for people attending LUH’s INR clinic Google+center_img Failte Ireland Chair steps down after Italy trip Pinterest RELATED ARTICLESMORE FROM AUTHOR Twitter Homepage BannerNews Arranmore progress and potential flagged as population grows Facebook The Chairman of Fáilte Ireland has stepped down after it emerged he travelled to Italy on holiday.The Minister for Media, Tourism, Arts, Culture, Sport and the Gaeltacht Catherine Martin has accepted Michael Cawley’s resignation.It’s after the Irish Independent reported that he was on holiday in Italy.In a statement this afternoon, the Minister thanked Mr. Cawley for his service to the cause of tourism promotion in Ireland. Harps come back to win in Waterford Loganair’s new Derry – Liverpool air service takes off from CODAlast_img read more

Flower shop notes offer glimpse into New Yorkers connecting during coronavirus pandemic

first_imgiStock/Linda RaymondBy: ERIN SCHUMAKER, ABC News(NEW YORK) — Michael Sclafani didn’t previously pay much attention to customers’ personal messages as he hand-wrote cards to accompany the flowers they ordered from his Brooklyn shop.That is, until the pandemic hit. Now, in addition to dashing off happy birthday, anniversary and Mother’s Day cards, Sclafani finds himself playing the middle man between New Yorkers who miss one another. Senders are gifting blooms as a way to check in on one another and “just because,” he said.“People miss their friends and experiences they’ve had,” Sclafani said. “They keep talking about the future.”In a city where more than 20,000 people have died from COVID-19, Sclafani is also transcribing more sympathy notes, even though his shop doesn’t formally do flower work for funeral homes. There are other kinds of loss happening, too. Flowers after layoffs. Flowers when pets die.“Life is still happening,” Sclafani said.Staying open hasn’t necessarily been easy. Sales are down from last year. When New York City shut down nonessential businesses in mid-March, Sclafani and his wife, Valentine Leung, who he co-owns Park Delicatessen with, had to make the difficult decision of deciding whether or not to stay open. The state’s guidance wasn’t much help. What counted as an essential business was surprisingly vague, he said.“It’s a Catch-22 feeling,” he explained. “On one hand, if we decide not to open, we’re going to be going out of business. If we stay open, are we contributing to the problem and not helping flatten the curve?”In the end, the pair decided to stay open for curbside pickup and delivery. No customers would be allowed inside the store.The also had to get creative about sourcing flowers. With New York’s wholesale flower market closed, Sclafani and Leung are working directly with small farms to arrange one-off meet-ups. “I’m going to meet this farm from New Jersey at JFK at 3 o’clock in the morning,” he said. “We had another farm from New Jersey on 28th Street at 7 p.m. on Wednesday.”Sclafani’s plight is familiar, according to Kate Penn, CEO of the Society of American Florists.“There is no doubt that March and early April was the toughest time for the industry,” Penn said. “Traditionally florists count on graduations, proms and weddings to help spark summer business. With those events on hold, florists will have to market heavily and promote the feeling of connection that flowers provide — outside of holidays.”For Sclafani’s and other small flower shop owners, Mother’s Day may have been an infection point.A number of the more than 3,000 florists around the country who use the online floral retailer BloomNation went out of business in April, according to a spokesperson for the company. It’s also unclear how many of BloomNation’s currently frozen accounts are ultimately going to come back.According to SAF’s market research conducted annually by Ipsos, Mother’s Day accounts for roughly a quarter of the money florists make from holiday flower purchases.“Having a strong Mother’s Day is extremely important to the financial health of florists,” Penn said. “Certainly the longer they remain closed — and if they were unable to open for Mother’s Day — the more difficult the proposition of reopening becomes.”While Sclafani didn’t make as much money this Mother’s Day as he did last year, he’s thankful that he was open, and that he’s been able to adapt his business to the pandemic’s constraints.Having fewer orders also allowed him to appreciate how his customers are staying connected during the pandemic.“It was a little bit sad, but there were some messages that made me smile,” he said. “When you get 50 orders in a day, you don’t pay attention to all of them. But when you start to read them individually, there’s a lot of emotion in there.”Copyright © 2020, ABC Audio. All rights reserved.last_img read more

Wake-up call

first_imgRelated posts:No related photos. Wake-up callOn 10 Oct 2000 in Personnel Today Previous Article Next Article Comments are closed. British Business is under pressure as the pound continues to strengthen. But those companies learning to adapt now will be well placed to compete in the global economy of the future It was clear at the 1997 General Election that the strength of sterling was going to prove a headache for any incoming government. In the three years since, the situation has intensified as the pound continues its seemingly unstoppable rise against the main European currencies, now combined in the euro. Indeed, since its launch 18 months ago, the euro has fallen by as much as 20 per cent against sterling.Few need reminding how badly the high pound is affecting British industry. A strong currency puts pressure on exports, and that hits profits and also jobs. It has been estimated that some 40 per cent of extra costs have been imposed on UK players in many of the most competitive manufacturing markets. Some contend that unless action is taken soon, the strength of sterling will result in the elimination of whole areas of viable business which would otherwise be flourishing.Baptism of fireBut there is an emerging school of thought that takes a decidedly more pragmatic approach. It insists the currency crisis should be seen as a useful wake-up call to UK industry – a baptism of fire, perhaps, in preparation for the even more rigorous conditions they will have to face in the emerging global economy. Thus, those companies which have been forced to find innovative and efficient ways of countering the natural disadvantages inherent in the high pound are well poised for the future. One company which has taken this to heart is the Glynwed Engineering Group, producer of the famous Aga cooker that is still made in Telford, close to the fulcrum of the Industrial Revolution. “I think for many years the UK was quite a protective environment,” says CEO Tony Wilson. “That strip of water worked wonders at keeping imports at bay.” But the strength of sterling has forced many companies to quicken the pace of change. “We may have been lax and lazy because of our protective markets but I think the businesses which have survived have learnt very quickly how to adapt to that new environment.”The company’s new £2m state-of-the-art foundry belies the traditional image of its Aga product and has also dramatically cut costs. “We’ll actually use half as many men as the old plant, and it will double the output,” Wilson says. “Obviously we expect our suppliers to carry some of the burden with us and our employees have also had to become much more flexible. We have things like flexible working hours now, and flexible money arrangements – and flexibility was not something the UK was noted for.”But efficiency alone is not enough to ensure continuing survival and prosperity – the welter of imitative companies coming out of Asia and eastern Europe has seen to that. “They can easily replicate our products,” Wilson says. “What they can’t do very easily is design new products and bring new innovations to market.”The challenge, therefore, is to create things which customers are prepared to pay a premium for. According to another successful UK exporter, Bede Scientific Instruments, this means thinking through every product much more thoroughly – especially in the high-tech environment in which it operates.Bede Scientific currently enjoys a competitive advantage in its market – it has developed one of smallest yet most powerful X-ray generators in the world. “Instead of weighing 1,000lb, it weighs 30lb. And instead of using 5 kilowatts to power, we will do it in 80 watts,” says chairman Norman Price. One of the first applications of its technology is the possibility of X-ray analysis on board the International Space Station. “Nasa is considering examining the structures of crystals grown in low-gravity conditions. They couldn’t have done it actually in space with the old-fashioned X-ray machines because of the weight and power. But they could with our new machine,” says Price. Knowledge economyBut he insists this competitive headstart can only be maintained “by running very fast… we have to keep developing and we will do that”. The critical ingredient to sustained success, he adds, lies less in all this, is less in the excellence of an individual product per se, and more in the know-how that goes into it.“You really make money if you can embed your knowledge and sell it again and again. You can keep on adding value for the business and for the nation. The true knowledge economy is actually embedding the knowledge and selling it as a product and service – and the package that goes with it. “There is a perception that the manufacturing industry is old-fashioned and passé, but the question is can you produce something with more inherent knowledge than the competition? There’s a limit to what you can do in terms of driving down costs but there’s almost no limit to what you can do in terms of enhancing the value to the customer,” he says. It might be argued that such market niftiness is all very well in the high-tech arena where products are small-scale. But what of hard core, large scale traditional industries? How have they countered the pound’s strength in Europe? The answer lies mainly in bringing ever-increasing efficiency and automation to their production lines.According to Graham Mackenzie, chief executive of Cardiff-based steel producer ASW Holdings, the UK steel industry is a good example of what can be achieved, albeit at great cost in terms of jobs. “Twenty years ago the steel industry in Britain employed 250,000 people. Now only a fifth of that number work in the industry, which still produces more steel now than it did then.”These changes have been reflected at ASW’s own plant, where one operative effectively controls a manufacturing process stretching half a mile. “A billet that starts its life 15 metres long, moving at around 10 feet a minute, is seven miles long at the end of the process and moving at 100 metres per second,” claims Mackenzie. “The man in the control cabin runs the entire mill from start to finish.”The track record of productivity improvement in steel has been very good – increasing threefold in the past 20 years. “We take it rather ill when Gordon Brown makes criticisms about productivity, because you certainly can’t point the finger at steel,” Mackenzie says. But the commodity nature of the product means that the effort has to be ongoing. “If we are going to stay competitive, we’re going to have to do the same thing in the next 20 years.” He believes that, with the appropriate investment, such leaps are possible. “What you’re talking about is gradually reducing the employment and changing the profile from unskilled and semi-skilled to highly-skilled people.”This quest for continuous improvement is also much in evidence at Farnborough-based Weston Aerospace, which produces sophisticated, high-value widgets for the international aerospace industry. But for Harry Tee, chief executive of the Roxburgh Group owner, the current strength of sterling is just another challenge driving the company’s quest for lean manufacturing. “We’ve had to accelerate some of those programmes and put more resources behind them. We have initiatives in place across a wide range of sites and product lines to drive as much as 30 or 40 per cent out of the cost of production,” he says. Weston achieves this feat by relentless attention to detail. It has abandoned the old production line in favour of smaller units of workers – so-called cellular manufacturing. Tee maintains that the essence of the process is the elimination of waste. “Basically, we create a value stream map of every product and we measure how long every process takes in seconds. If you pick up the product and put it back down, it gets registered. “So it’s incredibly detailed – but we’ve managed to reduce the production cycle time by half in the last six months by doing this work. It’s very necessary to drive out the wastage that goes in materials flow, on movement of product, and in material and labour costs.”He admits Weston has had to make compromises for this hasty investment in efficiency and these have mainly come from the R&D effort. “We’ve had to allow slippage in one or two product development areas in order to concentrate on driving costs out. R&D is still a very important part of our business. But there has been a trade-off – clearly over the past year we’ve had to put a bit more attention into new manufacturing as a result of the exchange rate movements.”Government actionIf the high pound is obviously hurting so many businesses, why isn’t something done about it? To some extent the Government absolved itself of responsibility nearly three years ago when Chancellor Gordon Brown handed over the day-to-day control of interest rates to the Bank of England. “I think we must beware of expecting too much of economic policy and economic policy-makers,” says Roger Bootle, economic adviser to Deloitte & Touche. “They have very few, and crude, tools at their disposal. But they have to deploy them to the best possible advantage.”Instead he believes the Government has been operating a policy of “benign or malign neglect”. If there was a clear political advantage in altering the situation, something could be done. It might be an old-fashioned move but the Bank of England could intervene in the foreign exchanges. If it sold its sterling reserves, the international value of the currency would be reduced.Representatives of the Bank of England monetary committee, which sets interest rates, admit that the high pound has caused irreparable damage to some otherwise viable businesses, and possible long-term damage to the economy. Yet they claim there is little they can do to alter the situation because their remit from government is to set interest rates only in relation to future price stability. As one member of the nine-member committee, economist Shushil Wadwhani, points out, the strong pound would only become a matter of concern “if a significant fall in industrial capacity then has implications for price stability further out. It’s only through that channel that we incorporate such considerations into our interest rate-setting decision.” To do otherwise “would be contrary to our remit – indeed illegal.”This apparent helplessness will, no doubt, be of little comfort to those who consider their very survival to be threatened by the high pound. But many of those businesses which have already been forced to take action to counter the inherent disadvantage brought by the strong pound claim there is a silver lining to the situation. Without the impetus of the currency crisis, they might not have upped the productivity and efficiency of their organisations – moves that will stand them in good stead for the future. Indeed, some industry leaders, such as steel executive Graham Mackenzie, maintain that the high pound in itself is only one of a series of external pressures that any business has to address continually. “To be honest I don’t expect relief from the pressure. I mean, why should we?”Tony Wilson at Glynwed agrees: “It’s a very small world now. Trade is international. So I don’t think we can relax – and we don’t intend to relax.”This is precisely the kind of long-term attitude that industry observers such as Brian Woods-Scawen at PricewaterhouseCoopers are seeking to encourage. “I don’t think the pound coming down will be quite the salvation that many manufacturers think,” he says. “We won’t be back in the old world – it won’t be that we’ve been through a period of dark nights and suddenly we’re in the sunshine. “The world will have changed. [Companies] won’t necessarily be able to succeed in the new world without making all the other changes necessary, simply because of a cheaper pound.”But the outlook is bright for those who have seen the writing on the wall and have acted on it. “There is a great opportunity for manufacturers in Britain which take advantage of these circumstances and make the necessary changes. They can then move into markets that are more favourable and have a fantastic chance to create world-leading positions as a result of their products and processes.”To some extent, therefore, the high pound must be seen as merely a symbol of the sort of pressures industry will continue to face throughout the 21st century. By learning new ways of coping with what seems like an unfair exchange rate, British business may be learning how to survive in a cruel new world.This article is an extract from BBC Radio 4’s In Business programmelast_img read more

Heart rate and rate of oxygen consumption of exercising macaroni penguins

first_imgTwenty-four macaroni penguins (Eudyptes chrysolophus)from three groups, breeding males (N=9), breeding females(N=9) and moulting females (N=6), were exercised on avariable-speed treadmill. Heart rate (fH) and mass-specificrate of oxygen consumption (sVO2) were recorded from theanimals, and both fH and sV02 were found to increaselinearly with increasing treadmill speed. A linearregression equation described the relationship between fHand sVO2 for each individual. There were no significantdifferences in these regressions between breeding andmoulting females. There were significant differences inthese relationships between all females and breeding males.fH and sVO2 were recorded from five of these animals for atotal of 24 h. When fH was used to predict sV2· for the 24 hperiod using the derived regressions, the estimate was notsignificantly different from the measured values, with anaverage error of -2.1 %. When fH was used to predict sVO2for the 5 min intervals used for the calibration in all 24birds, the estimate was not significantly different from theobserved values, and the average error was only +0.47%.Since the fH/sVO2 relationship was the same during periodsof the annual cycle when the animals were inactive/fastingand active/foraging, it seems reasonable that, as long as sex differences are taken into account, fH can be used to predict the metabolic rates of free-ranging macaroni penguins all year round.last_img read more

Official: branches will be able to stay open during lockdown

first_imgHome » COVID-19 support » Official: branches will be able to stay open during lockdown previous nextCOVID-19 newsOfficial: branches will be able to stay open during lockdownThe Government has announced that estate and letting agents can open their branches during the forthcoming lockdown.The Negotiator3rd November 2020026,798 Views Uncertainty over whether estate and letting agencies will be classified as essential services under Thursday’s lockdown rules, has been clarified.In a statement to the industry, the Government says: “Buying, selling and renting a home can continue, in a COVID-secure way, as it has in recent months. Estate and letting agents can operate, show homes and sales suites can remain open and property viewings, mortgage valuations and surveys can take place.”Subject to approval, the regulations specifically state that activities relating to the sector are allowed to continue under exceptions to leaving home to undertake any of the following activities in connection with the purchase, sale, letting or rental of a residential property:visiting estate or letting agents, developer sales offices or show homes;viewing residential properties to look for a property to buy or to rent;preparing a residential property to move in;moving house;visiting a residential property to undertake any activities required for the rental orsale of that property.Commenting for Propertymark, Timothy Douglas (left), Policy and Communications Manager said: “Following the laying of regulations for national lockdown measures in England we are very pleased that the hard work of our members and the importance of the property sector has been recognised with exceptions in the rules for home moves as well as visits to branches and allowing agents to visit property to undertake any required activities.“This is of course, subject to approval by Parliament. However, at this stage all the indications are that buying, selling and renting a home will continue and must be done in a COVID secure way and in accordance with the guidance.”Read more about the latest lockdown.estate agent lockdown Timothy Douglas lockdown NAEA Property November 3, 2020Grant LeonardWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021last_img read more