![]() Psychology, University of Essex, 2002-2005. Psychology at the University of Essex, 2002-2005. Psychology, University of Reading, 2005-2008. Psychology, University of Warwick, 2013-2017 PSYC757: MSc Research project supervision Staff serving as external examiners Stage 5: PSYC754: Academic writing skills package PSYC605: BSc Research project supervision Stage 4: PSYC603: (Final year option module on Eyewitness memory) Stage 0: PSYC003: Psychological influences on health and behaviour Saudi Arabia’s announcement that it would extend its one-million-barrel-per-day production cut for a third month to the end of September was offset by concerns over weaker demand from China, the world’s largest importer of crude oil.I currently teach on the following modules (courses in brackets were not taught this year because of a sabbatical) Global oil prices edged lower and brent crude slipped to $85 a barrel, ending a run of six straight weekly gains. The BoE expects inflation to slow to around 5% by year-end at which time markets are pricing in interest rates to peak at 5.75%. The majority on the committee, including governor Andrew Bailey, felt that while interest rates would need to go up further to bring inflation back to its 2% target rate, some progress had been made and that it would take time for the impact of earlier rate hikes to be fully felt. The decision of the nine-member Monetary Policy Committee was not, however, unanimous with two members voting for a steeper 0.5% hike and another member voting for no change. The Bank of England raised its benchmark interest rate by another 0.25% to 5.25% on Thursday in a widely expected move. JP Morgan chief executive Jamie Dimon added that ‘it doesn’t really matter that much’ and it is ridiculous that other countries are rated higher than the US when they depend on it for stability and security. The Biden administration criticised the action and US Treasury Secretary Janet Yellen asserted that US government securities would remain the world’s most safe and liquid asset. The rating agency cited the country’s growing debt burden and steady deterioration in governance of the past couple of decades, including the political brinkmanship over lifting the country’s debt ceiling earlier this year. Late on Tuesday, Fitch Ratings unsettled markets when it downgraded the US long-term credit rating by one notch from AAA to AA+. Travel-related companies have also been on a tear this year and shares in Booking Holdings, the parent of, Agoda and Kayak, surged to a record high of $3,243 after it reported that gross bookings had risen 15% to $39.7 billion in the second quarter.īooking also raised its full-year earnings outlook on expectations of a record summer travel season and chief executive Glenn Fogel added that the company was investing in AI technology to help achieve its connected trip vision of travellers using its apps to book all aspects of their holidays. Amazon shares have gained 67% year-to-date, boosting the net worth of its largest shareholder, Jeff Bezos, to $163 billion. Investors were also impressed by efforts to achieve great efficiencies, including reducing its headcount by around 27,000 so far this year, which have helped to lift operating profit margins to 5.7%. ![]() The digital retailer’s online sales rose 11% from a year earlier to $134.4 billion, confounding expectations that the slowing economy would hurt demand, and revenues at its cloud division, Amazon Web Services, grew by 12%. In stark contrast, shares in Amazon gained more than 8% on Friday after reporting earnings which were well ahead of most analysts’ forecasts. ![]() Chief executive Tim Cook pointed out that the company had performed ‘exceptionally well’ in emerging markets and that revenue growth of 7.9% in China partially offset a 5.6% decline in the Americas, Apple’s largest market. Revenue from its services division, which includes App Store sales, iCloud, Apple TV+ and Apple Music, rose 8% to a record high of $21.2 billion on the back of adding 150 million new subscribers over the past 12 months. iPhone revenue, which accounts for just under half the company’s total of $39.7 billion, was 2% lower than in the same period a year ago and iPad sales fell by 20%. Shares in Apple, the world’s largest company with a market value of $2.8 trillion, fell nearly 5% on Friday after it reported that its sales had slipped for a third consecutive quarter. The blue-chip S&P 500 and technology-focused Nasdaq indices fell 1.5% and 2.5% respectively. US stocks had their worst week since Silicon Bank’s collapse in early March as mixed corporate earnings and a downgrade of the US’s credit rating undermined sentiment. Team Asset Management offer their weekly round-up of global markets ![]()
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