1 Saudi crude stockpiles at record high (Khaleej
Times) Saudi Arabia, the world's largest oil exporter, is storing record
amounts of crude in its quest to maintain market share as it cut shipments.
Commercial
crude stockpiles in August rose to 326.6 million barrels, the highest since at
least 2002, from 320.2 million barrels in July. Exports dropped to seven
million barrels a day from 7.28 million.
"The fall in Saudi crude exports reflects the market
reality," Mohammed Ramady, an independent London-based analyst, said.
"It's normal to see this fall knowing that the market is becoming highly
competitive, with many countries in Opec selling at discounts and under-pricing
the Saudi crude."
Crude inventories have been at record highs since
May, a month before Saudi Arabia's production hit an all-time high of 10.56
million barrels a day. The nation has led the Organisation of Petroleum
Exporting Countries in boosting production to defend market share, abandoning
its previous role of cutting output to boost prices.
Brent crude oil prices have slid 13 per cent this
year as Saudi Arabia led Opec in boosting production to defend the group's
market share amid a global supply glut. Brent futures for December settlement
dropped 1.5 per cent to $49.69 a barrel in London on Monday.
Saudi Arabia cut back oil production in August to
10.27 million barrels a day from 10.36 million in July. The kingdom told Opec
that it produced 10.23 million barrels daily in September. It pumped at an
all-time high of 10.56 million barrels a day in June, exceeding a previous
record from 1980.
2 Morgan Stanley profit drops 42% (BBC) Profits for
US investment bank Morgan Stanley slumped in the third quarter as revenues for
commodity, bond and foreign exchange trading fell. Net profit fell 42%, to
$939m, from $1.63bn for the same three-month period a year ago, the bank's
second consecutive quarterly drop. Net sales fell 13% to $7.77bn, missing
analyst estimates of $8.5bn.
Rivals Goldman Sachs, Citigroup, Bank of America and
JPMorgan Chase have all reported dips in trading revenue. During the three
months to the end of September oil prices slumped and investors speculated over
when the Federal Reserve will raise rates. It was also the time the Chinese
stock market collapsed in value.
Earlier this month, the International Monetary Fund
downgraded its forecast for global economic growth for 2015 to 3.1% from the
3.3% it predicted in July. The 2016 forecast is down to 3.6% from 3.8%. Last
week, rival banking giant Goldman Sachs reported a sharp fall in profits as its
trading activity stalled.
Goldman's quarterly profits were $1.43bn, down more
than a third on a year earlier. The results contrasted sharply with those of
Citigroup, which posted a 50% jump in profits, to $4.29bn.
3 Learnings for workplace from standup comedy (Liz
Fraser in The Guardian) The one thing I’ve always wanted to do is standup
comedy. Talk to anyone who’s done standup, and they will tell you that it’s the
most terrifying thing you can do (I assume these people haven’t worked down a
200-ft mine, defused any bombs or had lunch with my mother.)
It’s especially difficult if you have no previous
experience and have just booked yourself 25 solo one hour shows in one of the
main venues of the biggest arts festival in the world, the Edinburgh fringe. So
that’s what I did.
These are the life lessons that I learned from my
nerve-wracking month of comedy: Slow Down. In standup, an hour is a very long
time. It’s not sixty minutes. When it’s going badly, an hour lasts for at least
a week. When it’s going well … I’ll get back to you on that one when it’s
happened to me.
Don’t judge yourself by your audience’s reaction. If
they’re not laughing it doesn’t necessarily mean they don’t think it’s funny,
it just means they’re not laughers. I suppose it might mean that they think
you’re rubbish, but the best advice here is to never ask. Just go home, have a
hot bath, and high-five yourself in the mirror.
Fake it. Confident people are really just people who
are good at appearing more confident than anyone else. It doesn’t mean they
are. Filler techniques. All comedians and public speakers have their own
fillers. Some take a sip of water, while others fiddle nonchalantly with the
microphone lead.
The eyebrows have it. Successful performance,
whether it’s a comedy show or a board-level presentation, is all about
delivery. You can have the best speech in the world, but it can be totally
ruined by a poor delivery. I’ve been to standup shows where 80% of the humour
came from the comedian’s facial expressions and delivery. The material itself
was average, but the show was great. For some reason, eyebrows seem to be key.
Have killer first and last lines. What happens in
between is dictated by the first lines and remembered by the last. It’s the
same in a three minute broadcast interview or a 10 hour talk. Your lines must
be well prepared, concise, and delivered confidently. Thank you. And good
night.
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