EDITION 1029
22 JULY 2024

The new UK government used its first King’s Speech to set out its priorities for the year ahead. The draft legislation covers areas including housing, workers' rights and green energy (see below). But some big challenges, which Labour says it has inherited, have not been directly addressed in the King's Speech. 

Meanwhile, Joe Biden announced he is withdrawing from the race to be the next president following mounting pressure and the Tories are back to shouting at each other in public. A new round of infighting has already begun on both sides of the Atlantic as leadership hopefuls jostle for position. With this in mind, this week’s poll asks the question: How do you handle conflict at work?

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.

Before you dive in, remember our POTENTIAL workbook [see below] is on offer for only £99. This unique workbook will help guide your organisation to its highest potential. Contact us today to start your transformation.

William Montgomery
Editor and CEO of TEN

1. How to make emotional connections. Humans are emotional beings, some more than others and some less than others, but we are all at the mercy of our emotions on some level. The higher up you go in an organisation, the more important it is to connect with your employees on a personal level. Show people you work with that there is more to your relationship than the job. READ MORE

2. What was in the King's Speech? Last week, King Charles officially opened Parliament with Labour's first king's speech, laying out the government's 40 bills it wants to pass in the next parliamentary session. They span several sectors, with bills aimed at streamlining planning and infrastructure, the creation of a state-owned energy company, the renationalisation of passenger railway services, a ban on zero-hour contracts, an extension of the Equality Act to include ethnic minority workers and disabled people, protections for cybersecurity infrastructure and new budget responsibility legislation. Meanwhile, Labour declared £9.5m in donations during the general election campaign, more than all the other parties combined. The Conservatives raised just under £1.9m, down from £19m during the 2019 campaign. Of the 650 MPs elected this time around, 335 have never been an MP before. Editor

3. UK market becomes European haven. The UK economy has exceeded expectations again, growing 0.4% in May after stagnation in April, double the rate predicted by experts. This has led to a wave of upgrades from economic forecasters and investment banks. Deutsche Bank now expects a 0.6% expansion across the second quarter, up from 0.3% earlier this year. Goldman Sachs and Capital Economics believe the UK could match its first-quarter growth of 0.7%. Annual growth projections have been revised upwards, with Goldman and Barclays forecasting 1.1% growth for 2024, significantly higher than the Bank of England's 0.4% projection. Meanwhile, Reuters reports that investors are now also looking at the UK market as a potential haven amid rising political uncertainty in the US and elsewhere in Europe. BBC

4. UK inflation steady at 2% target. The UK's annual inflation rate remained unchanged at 2% in June, meeting the government's target for the second consecutive month. This was slightly higher than the 1.9% forecast by financial markets. These figures will be crucial for the Bank of England's interest rate decision in August. The base rate remains steady at 5.25% and has remained at its highest level for 16 years. The Bank's monetary policy committee anticipates inflation to rise to 2.5% in the latter half of 2024 before dropping below the 2% target again. The pound reached a one-year high against the dollar on Wednesday following the release of UK inflation figures. Office for National Statistics

5. Sun, sea and sickness. Do you succumb to sickness every time you take a break from work? Travelling abroad can bring you face to face with a range of illnesses, whether it's something you catch while on the plane, getting food poisoning or going from one climate extreme to another. But some people find that they get sick when they take a break, no matter what. This phenomenon has been dubbed "leisure sickness" and is most often seen among people who don't take time off regularly, according to Cornell University. It brings flu-like symptoms, such as headaches, fatigue and body aches. Our bodies are better able to fight disease when we're under stress, although the cause could also be found in the drop in adrenaline levels seen when we take a break. Financial Times

6. Would you trust the office gossip? People who like to gossip at work may be seen as more sociable, but they are often perceived as less competent, a recent study has found. The research from the University of Leeds business school, which examined how perceptions of gossipers influence trust and competence, suggests that gossip can be a valuable way for work colleagues to exchange information, build relationships and understand organisational structure. Gossipers were more likely to be sought out for organising social events but were shunned when it came to seeking advice on ethical matters, researchers found. While gossip can foster workplace relationships and boost morale, it can also damage reputations and cause misunderstandings, the study concluded. Daily Mail

7. Netflix adds 8-million subscribers. Netflix extended its lead over rival streamers, adding more than 8m new subscribers in the second quarter. It also flexed its growth prospects by increasing its full-year revenue forecast. Revenue jumped roughly 17% compared to the same period last year, signalling that its ad-supported pricing plans and password crackdown have been successful. In fact, Bloomberg notes that results for the first half of 2024 have only been surpassed by Netflix's 2020 pandemic boom. But the streaming giant did temper expectations moving forward, saying new users this quarter won't keep pace with the same period last year. Netflix’s global paid memberships increased by 16.5% year over year to 278 million. The Guardian

8. Water bills to rise. Water bills in England and Wales will go up by an average of £94 over the next five years, under plans set out by the regulator Ofwat. The rise is less than a third of the amount the water companies requested, and is equivalent to £19 per household, per year. Last week, Ofwat announced it had opened enforcement cases into four more water companies. This means that all 11 companies in England and Wales that have a waste-water component are now being investigated over potentially illegal sewage spills. BBC

9. ⁠Winds of change. The average British person spends about four-and-a-half months of their life talking about the weather, a 2018 study found. But the "mainstay of casual conversation" may now be under threat as researchers embark on a project designed to vastly improve the accuracy of long-term weather forecasts. Launched by Reading University, in partnership with the Met Office and the European Centre for Medium-Range Weather Forecasts, the 15-year programme aims to identify the "minute influences" that are important to weather patterns and "uncover the limits of predictability in the real world". The Guardian

10. The bottom line. Britain has elected the most irreligious Parliament in history, according to analysis by the group Humanists UK. It found that about 40% of MPs chose to make a secular affirmation rather than take a religious oath on being sworn into the Commons this month, up from 24% in 2019. Daily Mail