EDITION 1002
15 JANUARY 2024

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 train your tired brain. Being mentally exhausted and burned out happens to all of us at some point. It tends to sneak up on you after periods of stress or heavy thinking. If you're stressed out and tired, it's hard to learn new things. Exercise, sleep, and a good diet are all essential for keeping your brain in peak condition, but you can also do the following to perform at your cognitive and creative best. READ MORE

2. Cross-parliament guilt over Post Office scandal. Theresa May's administration "pushed through" a CBE for Paula Vennells, the controversial former Post Office boss, despite concerns raised on the honours committee about the Horizon IT scandal. At least one member of the main honours committee "questioned the wisdom" of honouring Vennells, "alluding to the growing noise" surrounding the organisation's mistreatment of sub-postmasters, added the broadsheet. Meanwhile, Ed Davey, the Liberal Democrat leader, has seen his personal popularity take a "significant hit" in the wake of the scandal, Davey has faced growing criticism, as he was one of a series of ministers responsible for the Post Office during the crisis. His personal ratings - the difference between those who think he is doing a good or bad job - have fallen from -4% to -13% in the most recent study. The Observer and The Sunday Times

3. Global economy faces weak growth. The global economy is heading for its worst half-decade of growth in 30 years, according to an annual report released this week by the World Bank. It predicts that 2024 will be a third straight year of slowing growth, with advanced economies – including the eurozone – expected to see growth of just 1.2%, down from 1.5% in 2023. The slow growth could leave many developing countries "stuck in a trap". The reasons for this include "paralysing levels of debt and tenuous access to food for nearly one out of every three people". Meanwhile, according to the International Labour Organisation, global unemployment could also increase in 2024 after dipping in 2023. World Bank

4. Student loan system costs to soar. The cost of funding England's student loan system is set to increase by over £10bn per year due to higher interest rates, according to a report by the Institute for Fiscal Studies. This extra cost arises because government borrowing costs, measured by 15-year gilt yields, have risen from 1.2% to 4% since the end of 2021. Meanwhile, new undergraduate loans are pegged to retail price inflation forecast at just 2.4% over 15 years. This means the government now expects to lose money on all student loans, even those repaid in full, reversing previous years when it made a profit on loans repaid by graduates. According to the IFS, the government's official measure of the cost of student loans currently doesn't reflect the additional cost. Financial Times

5. Does declining birth rate spell doom for Britain? The number of babies born in England and Wales is at its lowest level in two decades, echoing a trend in the developed world and sparking fears of a "slow-motion crisis" for future generations. Just over 600,000 children were born in 2022, according to the Office for National Statistics – down about 3% from 2021, the so-called Covid baby boom, and the lowest total since 2002. The country's birth rate is now "lower than during the 1930s Great Depression and almost as low as it was during the First World War (when many men were away). BBC

6. That sinking feeling. The Royal Navy - in which I proudly served for almost 30 years - is suffering such a recruitment crisis in its submarine division that the service has had to advertise for a rear-admiral on LinkedIn. With no suitable candidate who has come up through the ranks, Navy chiefs are hoping that well-qualified retired officers will be persuaded to apply for the post of director of submarines, with responsibility for the UK’s nuclear deterrent. The advertisement was described as ‘utterly shameful’ and ‘unprecedented’ by naval sources. Editor

7. Hertz to sell 20,000 EVs and buy more gas cars. Hertz plans to sell a third of its fleet of electric vehicles - about 20,000 cars, including Teslas - and use the proceeds to buy more gasoline-powered cars. Hertz, which invested heavily in EVs in recent years, said the vehicles cost less to maintain but were more expensive to repair and were hurting the company financially. "Collision and damage repairs on an EV can often run about twice that associated with a comparable combustion engine vehicle," Hertz CEO Stephen Scherr said in a recent analyst call. Hertz said in a filing with the Securities and Exchange Commission that it expected to take a $245 million loss due to high EV depreciation, as declining prices for new EVs reduce what people will pay f or used ones. CNN and Bloomberg

8. Why saying 'no' can advance your career. Getting ahead doesn't mean taking on as much as possible. In an environment that celebrates the yes mentality, saying no can actually do you more good in advancing your career. Saying "no" not only helps manage your workload, it also gives you more time to focus on developing new skills. Using the powerful two-letter word to maintain boundaries, whether they're around your job or job search. Setting realistic expectations for yourself is key. Be sure to communicate those expectations with others so they respect your boundaries. Also, unplug during your time off. Skip answering non-urgent emails to fully recharge. Forbes

9. 2023 confirmed as world's hottest year on record. The year 2023 has been confirmed as the warmest on record, driven by human-caused climate change and boosted by the natural El Niño weather event. Last year was about 1.48C warmer than the long-term average before humans started burning large amounts of fossil fuels, the EU's climate service says. Last year was about 1.48C warmer than the long-term average before humans started burning large amounts of fossil fuels, the EU's climate service says. Almost every day since July has seen a new global air temperature high for the time of year. Sea surface temperatures have also smashed previous highs. The Met Office reported last week that the UK experienced its second warmest year on record in 2023. BBC 

10. The bottom line. New figures show that the price of a litre of petrol fell six pence on average last month, bringing it back to its pre-Ukraine War level for the first time. Diesel fell by 5 pence. A barrel of oil is now around $75, down from $130 in early 2022. Daily Mail