EDITION 991
16 OCTOBER 2023

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 face failure. When you start a company, launch a new product, or take on a new job, you, of course, hope to succeed. But that's not always the case. Next time you face failure, here's how to make the most of it. READ MORE

2. Can UK economy defy IMF forecasts? The latest IMF forecasts paint a challenging economic picture for the UK, with predictions of the slowest growth and highest inflation among G7 nations next year. The international organisation is forecasting a prolonged period of high interest rates, which are expected to curb UK consumer spending and squeeze household finances. In disagreement, the UK Treasury has pointed out that the IMF's assessment failed to take the upward data revisions into account. That said, and while economic headwinds continue to persist and the impact of the geopolitical situation still remains unclear, the IMF's previous underestimation of the UK's economic resilience offers room for optimism. There have been multiple upward revisions to growth projections so far this year, with the IMF, Bank of England and Office for Budget Responsibility admitting they wrongly forecasted a tough UK recession. BBC

3. Culture ranks top for mental health. When it comes to workplace mental health supports, a healthy culture came out on top among 78% of respondents in a survey of employees, above therapy. A safe and supportive culture for mental health came second (67%), mental health treatment third (64%), and self-care resources fourth (60%). But a majority of those surveyed said they felt less comfortable talking to their employer about mental health and less supported than in the past three years. Hybrid workers who could pick which days they went to the office reported better mental wellbeing. And respondents reported better mental health where they felt their employer supported their identity through diversity investment. Harvard Business Review

4. London ranked top VC hub in Europe. London is the only European city among the top 10 most developed venture capital (VC) ecosystems globally, according to a ranking published by data platform PitchBook. San Francisco is the most developed VC ecosystem in the world by a considerable margin, followed by New York, Beijing, Shanghai, Los Angeles, Boston and then London. The only other city in Europe to make it into the top 20 was Berlin. PitchBook ranked the VC ecosystems based on their size, maturity, and growth rates. While European VCs may not have as much money to invest as their US rivals, a recent report from trade association Invest Europe found that they delivered better returns across five, ten and twenty-year time frames. Citywire

5. Inflation fall predicted. UK inflation is expected to have fallen to 6.5% in September. In a poll by Refinitiv, experts said they expected the Office for National Statistics to say annual inflation fell slightly to 6.5% in September from 6.7% in August. A "steeper fall" in prices growth was expected until oil prices "jumped", and the forecast inflation figure is still above the Bank of England's 2% target. Martin Beck, from the EY Item Club, said inflation would head towards 4% in the last three months of 2023. The Guardian

6. Migration figures hold. Net migration to the UK is unlikely to fall below pre-Brexit levels by the end of the decade, according to a new study. A joint report by the Migration Observatory at the University of Oxford and the London School of Economics found that the record level of immigration in the past two years was likely to lead to higher emigration over the next couple of years. Net migration will remain at around 250,000 to 350,000, the experts have forecast. The Independent

7. House prices slow. House prices are rising at the slowest rate for this time of year since the 2008 financial crash, according to property website Rightmove. The average new asking price rose by 0.5% in the month to 7 October to £368,231 and a spokesperson said that estate agents were describing the market as the "most price-sensitive ever". Separate data from Halifax earlier this month showed the fastest fall in annual house prices in 14 years in September. The Guardian

8. Brits cut back for Christmas. Britons are reining in their spending on eating out at restaurants and takeaways in a bid to save some money ahead of the festive season. That's according to research from Barclays, which found more than two-fifths of people are planning to reduce their discretionary spending before Christmas. The data also showed more consumers were looking to cut back spending on their weekly shop, despite a continued fall in grocery price inflation. The Guardian

9. It wasn’t all bad. There is good news for music-loving gardeners as a new study shows plants that have music played to them grow 10% more leaves, take in more sun and produce more food. The results have been so striking that the researchers - from a University in China - say they could pave the way for a new type of "acoustic farming". Mail on Sunday

10. The bottom line. According to the Reuters Institute, 41% of UK adults actively avoid the news, up from 24% in 2017. Financial Times