EDITION 1034
27 AUGUST 2024

Keir Starmer will declare today that "it will not be business as usual" when Parliament returns next week as he also cautions there is "hard work" ahead to "root out 14 years of rot". In his first major speech since winning power, the prime minister will warn that things in Britain "will get worse before they get better", adding he will not "shy away from making unpopular decisions" to restore the country [see poll below].

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 stay happy, together. Evidence is mounting from sociological research that when both partners in a relationship dedicate themselves to work and to home life, they reap benefits such as increased economic freedom, a more satisfying relationship, and a lower-than-average chance of a break-up. But many relationships fail for work reasons: too much travel, too little time together, and too much relocation. It's not easy, but it's possible to manage a relationship and two careers. READ MORE

2. UK leads in Europe's business activity. In a boost for the Bank of England and the new UK government, British firms reported their strongest growth in four months, with the PMI rising to 53.4 in August. This outpaced expectations and suggests a healthy economic expansion without fuelling inflation. Meanwhile, European PMI data revealed a mixed landscape. France surged to a 27-month high of 55.0, buoyed by Olympic preparations. However, Germany's business activity contracted for the second month running. The eurozone composite PMI bounced to 51.2, showing surprising strength. Bloomberg

3. It’s time to back our Neets. The UK has 900,000 16 to 24-year-olds classified as Neets – not in employment, education or training, which is crazy at a time when the construction industry says it urgently requires 250,000 workers. We need a more coordinated system. Some English mayors are trying. Andy Burnham’s Greater Manchester Baccalaureate offers teens vocational training in skills that local businesses need. I have just returned from The Hague where I learned that the Dutch make local authorities work with schools, employers and charities to ensure someone is looking out for teens in danger of falling between the cracks. As a result, their Neet rate is a third that of ours. If we could match their performance on youth employment, it would yield almost £40bn and spare a lot of wasted potential. Editor

4. Train could take 54% of City routes. More than half of the journeys taken from London's City Airport last year could have been done by train in six hours or less, according to research. More than 43% of the destinations served by the airport could be reached by train in less than five hours, while 54% of them could be done in less than six hours and more than 66% in less than eight. Thinktank New Economics Foundation (NEF) and charity Possible found that the airport's two most popular routes, Amsterdam and Edinburgh, can be reached by train in four hours and four hours and 20 minutes respectively. The Guardian

5. Record new firms start amid busts. The latest data on business creation and closure in the UK and EU paints a complex economic picture. The UK is set for a record year of new company creations in 2024, with 468,000 new businesses registered in the first half of the year. This 6% increase from last year could lead to over 879,000 new companies by year-end. According to the latest data, 25,551 companies in England and Wales went bust in the 12 months from August 2023 to July 2024, surpassing the number during the 2008-2009 financial crisis. A similar trend is being observed across the Channel, as EU businesses also face rising bankruptcies. In the second quarter of 2024, the EU saw a 3.1% increase in bankruptcies and a 2.1% decrease in new registrations. CityAM

6. A good year for students. Pupils this year achieved record numbers of top A-level grades, outside of the pandemic. The share of A*s and As rose to 27.8%, up from 27.2% last year, meaning that almost one in ten A levels was awarded an A*. Maths remained the most popular A level for the 11th consecutive year, and further maths was the subject that registered the biggest rise in enrolment. London was the highest-performing region, with 31.3% of all grades marked A* or A; in the East Midlands, the lowest-performing region, it was 22.5%. It was a good year to apply to university: 82% of pupils were accepted by their top choice. The Telegraph

7. Britons travelling to Europe will need €7 visa waiver from next summer. Britons travelling to Europe next summer will need to apply for a €7 visa waiver, officials in Brussels have confirmed. The European Travel Information and Authorisation System (ETIAS) was on course to launch in spring. Passengers visiting the bloc will be required to apply for a waiver - similar to the US Esta - before travel. It will be valid for three years or until your passport expires, whichever is first. The Times

8. US investors cool on Premier League. American investors' enthusiasm for English Premier League football clubs is waning after years of fervent interest. Their spending spree has resulted in almost half of the league's clubs being under US ownership. Over a third of the 92 professional teams in England's top four leagues also have US owners. However, Chelsea's struggles, despite a staggering £1bn investment, have particularly alarmed potential buyers. Financial losses, unchecked player expenses and relegation risks are deterring investors from what's often hailed as the world's most popular sports league. Several Premier League clubs are now struggling to sell minority stakes while others languish on the market for months. This shift could profoundly impact the financial landscape of English football, potentially reshaping the league's future. Bloomberg

9. Is the cost-of-living crisis over? The cost-of-living crisis started in late 2021 when energy prices and general inflation squeezed household budgets across the UK. Although inflation has now dropped to an ordinary level, and for some wages have increased, many people still say the cost of living crisis is not over. Do you consider the cost-of-living crisis...? Please share your views in our latest poll. VOTE HERE

10. The bottom line. The age at which voters are more likely to be a Tory than a Labour voter is now 63, according to an analysis by YouGov of last month’s election result. In 2017, the crossover age from Labour to Tory was 47. The Guardian