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On June 18, 2019, Facebook announced its plan to launch a more stable and useful “next generation” cryptocurrency in 2020, called “Libra.” Does this new “global digital currency” mark the beginning of a new phase in the evolution of cryptocurrency, or will it fall flat?
Join Stanford Professor and former SEC Commissioner Joe Grundfest, one of the world’s leading experts in cryptocurrency and related regulatory matters, in a conversation about Libra and the future of cryptocurrency.
You will learn:
What Libra is and the potential effect it has on the global economy
Why Libra is a threat to banks and credit card companies
What key challenges Facebook must overcome in order to achieve success
Why regulators are skeptical of this new plan
Watch Now
Questions? Contact 650 204-3984 or stanfordonline@stanford.edu.
Hi all,
We are delighted to invite you all to join us for the Inaugural Lecture of Professor. Yaochun Shen on Tuesday 11th February.
The lecture will take place in the Department of Electrical Engineering and Electronics, ELT Room 101, and will commence at 5.15pm. Refreshments will be provided.
For further information and to register for free, please visit here - https://www.eventbrite.co.uk/e/the-inaugural-lecture-of-professor-yaochun-shen-tickets-90788377481
We hope that you can join us to celebrate Professor. Shen’s achievement, and to hear his talk ‘Seeing the unseen: infrared and terahertz 3D imaging for medical and industry applications.’ (Abstract below)
Abstract
Seeing the unseen: infrared and terahertz 3D imaging for medical and industry applications
With the publication of “A Dynamical Theory of the Electromagnetic Field” in 1865, Maxwell unified the theories of electromagnetism and optics. Maxwell’s Equations, recognised as the “second great unification in physics” after the first one realised by Isaac Newton, underpin all modern information and communication technologies which is central to the increasingly important digital economy.
Our eyes are wondrous things, but they have fundamental limits: with naked eye we can only see visible light which represents a tiny portion of the broad electromagnetic spectrum. To extend human’s “seeing” capability, researchers have utilised electromagnetic radiation including microwave and X-ray to develop imaging technologies that enables people to see the unseen, for example, to see through and image optically opaque samples and concealed objects. Terahertz imaging is a new addition to these enabling imaging technology.
The terahertz region of the electromagnetic spectrum spans the frequency range between the mid-infrared and the millimetre/microwave. Traditionally the exploitation of this terahertz region has been difficult owing to the lack of suitable source and detector. There has therefore been considerable interest in the development of THz technology as it has advantages of being non-ionizing, non-destructive, and able to image at depth. In the near-infrared region, optical coherence tomography has also proven to be a non-invasive and cross-sectional imaging technique that permits, for example, three-dimensional (3D) images with micrometre resolution to be obtained from within the retina of human eye.
In this inaugural lecture I would like to walk through my journey in the development of terahertz and optical coherence tomography imaging technologies with a focus on their future industrial and medical applications.
Business – Need to know – Afternoon Edition
Martin Strydom
BY MARTIN STRYDOM
Good afternoon: Hopes that Opec and its allies will cut production to offset a possible drop in demand caused by the coronavirus outbreak has lifted oil prices. Brent crude edged up to just below $55 a barrel after a two-week slide on reports that the cartel was considering reducing output by 500,000 barrels a day.
Goldman said in a note: “Oil prices are now at levels where we would expect a supply response from both Opec and shale producers, and where China would likely seek to build crude inventories.” Brent crude was trading at about $65 a barrel on January 21.
The decline in the construction sector slowed last month. Optimism in the sector is at its highest level in 22 months and client demand has increased as political uncertainty eases. The purchasing managers’ index for the sector rose to 48.4 in January, up from 44.4 in December and above the consensus of 47.1.
Housebuilding was the best performing category and the downturn in commercial activity has started to soften. The worst performing category was civil engineering, with firms saying that there was not enough new work to replace completed infrastructure projects.
Ikea is shutting its seven-storey store in Coventry, the first large store in the UK to close, as it focuses on modernising the business to cope with the rapid change in shopping habits. The unprofitable shop is due to close by summer. Deirdre Hipwell has tweeted that when the store was opened in 2007 extra police had to be brought in to control crowds.
Sanofi, the French drugmaker, said that it was being investigated over Depakine, an epilepsy drug that could cause birth defects.
Finally, the pound, which fell as low as $1.2942 this morning on worries about Britain’s future trade relationship with the EU, has edged back above $1.30.
Martin Strydom
Business News Editor
Email icon martin.strydom@thetimes.co.uk Twitter icon @strydo
FTSE risers and fallers*
Up
Ferguson +5.62%
Evraz +4.94%
Glencore +4.24%
BP +4.24%
Anglo American +3.27%
Down
Centrica -1.19%
Polymetal International -1.07%
Severn Trent -0.66%
United Utilities Group -0.64%
Compass Group -0.64%
Markets
FTSE100 7417.08 +1.24%
FTSE250 21392.32 +1.09%
Cac 5907.07 +1.28%
Dax 13204.98 +1.22%
Brent crude 54.76 +0.57%
Gold 1569.4171 -0.42%
GBP/$ 1.3018 +0.19%
GBP/€ 1.1780 +0.28%
10Y gilt 103.007 -0.4%
*As at noon
Market snap
“Risk is back on” was the message from traders this morning as stock markets around the world rallied sharply.
Having sold off heavily last week amid worries that the coronavirus outbreak would hurt the global economy, the FTSE 100 added 88.49 points, or 1.2 per cent, to 7,414.80 in early deals.
The City’s big-name miners led the charge as commodity prices firmed up following supportive measures from China’s central bank, which soothed investors’ fears about the impact of the virus.
Copper is on track to snap its 14-day losing streak, while nickel and zinc prices also added more than 2 per cent in the morning session.
Evraz, the Russian miner whose biggest shareholder is the oligarch Roman Abramovich, jumped 17?p, or 4.9 per cent, to 373?p, while the Chilean copper producer Antofagastaclimbed 29?p, or 3.5 per cent, to 864p.
Glencore, the world’s biggest commodities trader, rose 9?p, or 4.4 per cent, to 231?p following an in-line production update.With risk back on the table, investors were selling defensive assets such as bonds, utility stocks and gold.
Prices of a UK ten-year government bond eased lower, while yields, which move in the opposite direction, nudged higher.
Shares in Centrica, the owner of British Gas, fell 1?p, or 1.7 per cent, to 84?p. Severn Trent slipped by 26p, or 1.0 per cent, to ￡25.73, while United Utilities, another water supplier, dipped 8p, or 0.8 per cent, to 997p.
The price of an ounce of gold, which is seen as a “safe haven” asset, fell back 0.3 per cent to $1,571.Elsewhere, the FTSE 250 made a bright start to proceedings as it improved 228.14 points, or 1.1 per cent, to 21,388.99.
Electrocomponents, sometimes dubbed the “Amazon for engineers”, sat near the top of the mid-cap leaderboard following the announcement that its chief executive, Lindsley Ruth, would return to work next week after a couple of months off while he underwent medical treatment. The tech distributor also noted that it was continuing to take market share and the shares rose 31p, or 4.6 per cent, to 702?p.
US day ahead
The Redbook retail sales report is due at 1.55pm, with factory orders at 3pm. Ralph Lauren reports before the opening bell and Ford, Snap and Walt Disney publish their results after markets close.
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UCU Industrial Action
Staff who are members of the University and College Union (UCU) have been asked to take part in industrial action.
This is a national action and, whilst every effort has been made to resolve the dispute, we have been notified that action will take place on 20, 21, 24-26 February and 2-5 and 9-13 March. Continuous UCU action short of a strike (which is intended to include staff not covering for other colleagues’ absences or not providing materials for missed teaching sessions) started on 25 November 2019 and will end no later than 29 April 2020. UCU may call another ballot to extend the action beyond this date.
FAQs
Why is the industrial action taking place?
University and College Union (UCU) voted in favour of industrial action as part of a dispute over changes to the national pension scheme, known as the Universities Superannuation Scheme (USS) and a separate dispute over pay.
Industrial action took place in November 2019 and further action is planned for February and March 2020.
Why has this dispute not been resolved to avoid industrial action?
Background on pensions
The independent Pensions Regulator has expressed concerns over the future of the USS pension scheme due to the scheme’s significant deficit and the rising cost of future pensions.
We believe in collective bargaining and proposals to address the pensions deficit and future sustainability of the scheme have been discussed at a national level between the UCU union and Universities UK (UUK). As with pay arrangements, discussions take place at national level and individual universities are not involved in the negotiations.
The USS Trustee board recently approved contribution rate changes for employers and staff as well as a recovery plan for the scheme. In October 2019, an increased contribution rate of 9.6% of salary was implemented for staff, with employers’ contribution rate rising to 21.1%.
The University, like many others, is of the view these increased contributions to the USS pension scheme are entirely necessary to maintain the sustainability of the scheme. The cost of providing defined benefit pensions (which pay a retirement income based on salary and the number of years worked for an employer, rather than the amount of money an employee has contributed to the pension) has risen dramatically because people are living longer, and the economic environment has fundamentally changed since the financial crash of 2011.
UCU maintain that employees should not pay more than 8% of salary for their existing USS pension benefits.
Background on pay
The UCU is also taking strike action in relation to the sector’s 2019-20 pay award which ranged between 3.65% for staff on the lowest point on the pay scale, and 1.8% for those on the higher points of the pay scale. The award has the effect of increasing the rate of pay at the lowest point on the pay scale to ￡9 per hour, which is currently the Real Living Wage rate of pay. The University of Liverpool is a Real Living Wage employer.
As with pensions, pay arrangements are negotiated at national level and individual universities are not involved in the negotiations.
What are the dates of the strike action?
Action will take place on 20, 21, 24-26 February and 2-5 and 9-13 March.
What is action short of a strike?
Action short of a strike (ASOS) is defined as other industrial action that is not a strike.
UCU has advised that the action short of strike action in this period will consist of its members;
? working to contract
? not covering for absent colleagues
? not rescheduling lectures or classes cancelled due to strike action
? not sharing materials relating to lectures or classes cancelled as a result of the strike action.
? not undertaking any voluntary activities
Will my teaching or assessment be affected?
The vast majority of staff will be working as normal during the period of strike action, but some areas of the University are likely to experience higher levels of industrial action than others. Many teaching and assessment sessions, including midterm exams, will go ahead as planned. As staff do not have to inform the University in advance that they intend to take strike action, unfortunately we cannot give you advance notice of cancelled sessions, although some of your lecturers may do so.
It is therefore important that you assume all activities are going ahead, including the supervision of projects and dissertations, and that you attend as planned unless you hear definitively from your lecturer or School office that a teaching event will not take place. If a member of staff takes strike action on one day, it should not be assumed that they will continue to do so on other days. You should continue to submit assignments to existing deadlines.
When a member of staff does not arrive for a teaching session at its planned start time, you should wait for a few minutes to be sure that their lecturer is not late before leaving the room. Lecturers need to inform the University that they have taken action as soon as they return to work so your department will be aware of the sessions which have been missed.
What will the University offer in place of teaching sessions affected by the industrial action?
The University is committed to maintaining the quality of your learning experience throughout the planned industrial action. Where teaching sessions are cancelled, we expect that your lecturer / supervisor will provide you with alternative learning materials or supervisory support after the period of strike action. We would nevertheless encourage you to make use of background reading on missed topics as far as you can.
Although we have asked lecturers to provide you with alternative learning materials, some may choose not to do so – if this is the case we will be aware of this and the potential impact on your ability to complete coursework or answer examination questions. We will make certain that no student is disadvantaged as a result of the strike action and have processes in place for our Board of Examiners to ensure that your attainment and progression is not unduly affected, whilst maintaining academic standards.
Will my assignment deadlines move back?
As a general principle, assignment deadlines will not move and students should continue to submit in time to meet existing deadlines. Students will be informed of any changes to the dates for the return of work, which may need to be delayed due to strike action.
What happens if I have not received the teaching necessary in order to be able to complete my assessments to the usual standard?
We know that you will be concerned about the potential impact on your ability to complete coursework or answer examination questions and would like to reassure you that we will make certain that no student is disadvantaged as a result of the strike action. We will be aware of where missed teaching sessions may have an impact on some coursework or exam questions and we have processes in place for our Board of Examiners to ensure that your attainment and progression is not unduly affected, whilst maintaining academic standards.
Once work has been marked, consideration will be made by a Board of Examiners as to whether the work has been significantly impacted by the industrial action. In these circumstances you will be notified of the action to be taken.
What if my supervisor does not attend a meeting on my dissertation or final year project due to industrial action?
If you arrived for a meeting with your dissertation or final year project supervisor and they were not there and you think that this will affect your work please inform the School Office staff as soon as possible and they will record this. If you think you will need an extension because of this please indicate how many sessions have been missed, providing details of days and times. Your Head of Department will consider the impact of missed supervision and will ensure you are informed of any extension to your submission deadline.
What should I do if I’ve been approached to support the strike action?
It is for you to decide whether you would like to support the industrial action and you should not feel pressured either way.
We respect our students’ rights to support the action but you should be aware that:
? If you do not attend any lectures or tutorials for which you are registered, you will be marked as absent and this will be followed up as usual by your School.
? If you do not attend lectures or tutorials, alternative learning materials may not be made available to you.
? No consideration will be given at exam boards for teaching that takes place as scheduled but which students choose not to attend.
Why do you monitor student attendance?
We undertake regular monitoring of all undergraduate student attendance. This is vital as attendance is an important indicator of student wellbeing. Monitoring information enables us to follow up patterns of non-attendance with students so that we can provide them with appropriate support, should they need it.
We are also required to monitor attendance so that we fulfil our duties on international student visas to UK Visas and Immigration (UKVI).
What if I want to appeal my exam results?
For information on appeals, please see: https://www.liverpool.ac.uk/student-administration/student-administration-centre/policies-procedures/appeals/
Will graduations go ahead?
All July graduation ceremonies will go ahead as planned.
As an international student, will my visa be affected by strike action?
All students should continue to attend their teaching as timetabled. If a lecture is cancelled due to the strike action, this will not affect your visa. The University will continue to maintain sponsorship of all Tier 4 students whilst you are on your course.
What is picketing?
Picketing is where staff taking part in industrial action gather outside their place of work in order to seek to persuade others employed by the University not to work.
Picketing is only allowed at or near entrances to and exits from the picket’s own place of work, so picketing can only take place on the University’s grounds.
Pickets can peacefully seek to persuade other colleagues not to work and peacefully obtain or communicate information.
Only staff who are employed by the University and trade union officials who personally represent them have the right to picket on our premises.
Pickets can request permission to explain their dispute to those entering or leaving the workplace (including students) and can ask them not to enter or leave the premises i.e. not to cross the picket line. This may involve speaking to people, distributing leaflets or carrying banners or placards. These activities must be carried out peacefully at all times.
Pickets do not have the right to do the following:
? stop any person crossing the picket line;
? force a person to listen to them;
? stop any vehicle;
? assault, threaten, intimidate, abuse, harass or defame anyone;
? cause alarm or distress;
? obstruct any path, road, entrance or exit to the workplace;
? intentionally or recklessly damage property;
? trespass on private property;
? take any action which is likely to lead to a breach of the peace.
Will I receive any compensation?
At present we do not believe that compensation will be necessary. Following their return to work, we will be asking any staff member who takes strike action to support you with additional learning opportunities so that you can achieve the intended learning outcomes for your modules and programme and ensure you are not disadvantaged. If following this you remain dissatisfied you can make a complaint using the amended version of the Student Complaints Procedure which is designed to be used during periods of major disruption. The current industrial action is covered by this procedure which can be found here and as part of the complaint you can indicate the outcome you are seeking.
Will I receive a refund for travel to campus if the lecture is cancelled due to industrial action?
We will not be providing refunds for travel in instances where teaching sessions have been cancelled due to industrial action.
If a session is cancelled, we would encourage you to engage in independent study and make full use of background reading and library resources.
What will happen after the current planned industrial action?
The industrial action ballot is valid for six months. If the dispute is not resolved, the action short of a strike may continue throughout that period. UCU may also choose to notify the University of further strike action. If so, they will provide the University with 14 days’ notice of strike dates.
How will money withheld from staff who undertake industrial action be spent?
This money will be used to fund student-facing projects. For example, deductions for industrial action taken in 2018 were used to enhance provision relating to mental health and tackling sexual misconduct.
Who do I contact if I would like to make a complaint and how will my complaint be dealt with?
If your issue has not been resolved through speaking to your School office, then you can submit a complaint using the amended version of the Student Complaints Procedure which is designed to be used during periods of major disruption. The current industrial action is covered by this procedure. The procedure can be found here: https://www.liverpool.ac.uk/student-administration/student-administration-centre/policies-procedures/complaints/.
I am a Graduate Teaching Assistant and plan to go on strike. How does this affect me?
Graduate Teaching Assistants (GTA) cover a range of roles. If you have an hourly paid contract with the University, you will be treated as an employee and so will have pay deducted in the appropriate manner.
If you are undertaking teaching or demonstrating duties as part of your studentship you are not an employee and are therefore not entitled to strike. However, the University recognises that you may not wish to cross a picket line in your role as GTA. As you are not employees of the University, no action will be taken against you, We would, however, encourage you to let your department know as soon as possible if you do not intend to undertake your duties during the industrial action so that departments can plan accordingly to minimise the impact on other students.
What if I need more support?
We recognise that the strike action may be a cause for concern and worry for you. If at any time you feel you might benefit from some extra support, please access our wellbeing drop-in, located in the Alsop Building. To ensure all students can access wellbeing support we will be extending the hours of this service during the industrial action period to 10am – 4pm every weekday.
You don’t need to book – simply come along to the Student Welfare Advice and Guidance Information Point on the ground floor of the Alsop Building (on University Square) and you will be able to access practical and pastoral support in a confidential space. Information on all other support available can be accessed here.
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