EDITION 943
31 OCTOBER 2022

There is no escaping it: too much news is bad for you. It should come with a government health warning: “This intellectual diet is fine taken in small doses, and preferably in weekly instalments, via a well-balanced newsletter, such as 10 things from William Montgomery."

So, as another week slips by, here are 10 things which caught my attention and may have escaped yours. Please feel free to share on social media and forward to your colleagues and friends so they can also subscribe, learn and engage. I would be very grateful if you did.

William Montgomery
Editor and CEO of TEN

1. How to protect yourself from workplace burnout. Establishing boundaries on the first day of your new job is critical but often overlooked. Before starting a new job spend a few minutes reflecting on how burnouts manifested in your previous jobs to help you set new boundaries for your next job. READ MORE >>

2. Britain’s economic outlook remains grim. The new PM Rishi Sunak took office warning that Britain faced “a profound economic crisis” but was greeted by a relief rally. The pound gained against the dollar, yen and euro; and the interest rates on five, ten and 30-year gilts fell sharply – though they rose slightly on Wednesday when the PM delayed the fiscal statement to 17 November. Moody’s had earlier downgraded the UK’s economic outlook from “stable” to “negative”, citing political instability and high inflation. Grant Shapps replaced Jacob Rees-Mogg as Business Secretary; and Mel Stride became Work and Pensions Secretary. CNBC

3. Can price caps fix the rental crisis. Rents are rising at rates higher than inflation in one in four local authorities in the UK, with some areas seeing a 20% increase due to a shortage of properties and increased demand. To help tenants amid a cost-of-living squeeze, the UK government is mulling a cap on the rent for social housing. The Scottish government has already announced a rent freeze. Meanwhile, The number of rough sleepers in London has risen by 24% in the past year. There were 5,712 people on the capital’s streets between April and September, according to the analysis from City Hall. The Telegraph

4. Diesel costs rise again. The price of diesel at UK pumps has risen above £1.90 for the first time in nearly three months. Data from Experian showed that a litre of diesel now costs 190.12p on average and petrol costs 166.17p. A spokesman for the AA said: “This is not only bad news but bad timing. The clocks going back last weekend will soon move the evening rush-hour into darkness. More use of lights, wipers and heaters in the winter months makes vehicle engines work harder and use more fuel.” Daily Mail

5. Is the cover letter over? More than half of professionals find cover letters unnecessary, yet hiring managers say they portray a candidate in a way a CV cannot. Recruiters are split on the issue: some say they offer little additional benefit to a good CV. However, others suggest they can be a good opportunity to stand out – particularly if others are neglecting to send them. What do you think? Cast your vote in this poll. VOTE HERE >>

6. Low pension pots top £26bn. When was the last time you checked on your pension pot? If the answer is "not lately", it might be worth doing it soon. According to a report from the Pensions Policy Institute (PPI), the number of lost pension pots has risen by almost 75% in the last four years and is now over £26bn. The study found that the spike in lost pensions could be attributed to many people changing jobs and homes during the pandemic. On average, the unclaimed, dormant, and lost pension pots are worth around £9,500. The data comes at a time when many workers on lower salaries are cutting their pension contributions in an attempt to battle the high cost of living. Financial Times

7. Abuse towards retail staff is surging. As prices rise and purse strings tighten, Retail Trust figures have revealed customers are increasingly taking out their frustrations on shop workers. A survey of 2,000 shoppers found that 62% had been frustrated by inflating prices – with 71% of these owning up to losing their temper at staff. Despite newly introduced laws setting out tougher sentences to those found guilty of attacking shop workers, some 90% of retail staff say they have experienced some form of abuse from customers, and more than two-thirds say it has become worse over the past two years. According to the Institute of Customer Service, over 40% of retail staff are considering whether to continue working in the industry. The Guardian

8. Our national broadcaster. Last year, the BBC raised £3.8bn in licence fee revenue, and made £1.5bn from its commercial ventures. (In real terms, its funding has been cut by 25% since 2010.) Last year, it spent £3bn on content: £314m on news; £376m on film and drama; £94m on sport. These are big figures, but they pale into insignificance beside the amounts spent by the US streamers. Last year, Netflix spent about $17bn (£15bn) on content, Amazon $13bn (£11.5bn), and Disney $25bn (£22bn). The BBC’s reach is still massive – 90% of UK adults use BBC services every week – but Netflix overtook the BBC’s iPlayer in terms of users back in 2019. The Times

9. What will Liz Truss do next? Pundits say public speaking and memoir writing may not be money-spinners for the outgoing PM. Some have suggested that she might make a bid to become leader of the Liberal Democrats, having been a member of the party during her youth. Alternatively, she might retrain as a driving instructor, since she’s already “done so many U-turns”, or become a demolition worker, “since she seems to like wrecking everything. Editor

10. The bottom line. A quarter of British parents do not know the facts of the festival of Diwali. By contrast, half of children aged 6-15 are aware of most of these: that Hindus, Jains and Sikhs celebrate it by spring cleaning, wearing new clothes, exchanging gifts, enjoying festive meals, lighting up their homes and attending firework displays. iNews