EDITION 1001
8 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 boost your career in 2024. As we step into the new year, it's an opportune time to assess and enhance our career paths. Whether you're aiming for a promotion, expanding your expertise, or bolstering your professional profile, having an action plan is essential for success. READ MORE

2. CEOs top average salary in 4 days. Chief executives at the UK's biggest companies have made more money in the first four days of 2024 than the average worker will make all year, according to the High Pay Centre. The organisation's research claims that FTSE 100 bosses make an average of £3.81m per year – or £1,170 per hour, 109 times that of a typical full-time worker. The High Pay Centre used FTSE companies' annual reports to make its calculations, and also used a study by the Harvard Business School to estimate chief executives' average working hours of 62.5 per week. While the Trades Union Congress said the figures showed "obscene levels of pay inequality", a member of the Institute of Economic Affairs think tank said lowering bosses' pay would "undermine British competitiveness". BBC

3. Biggest miscarriage of justice in British history. The government is exploring how to exonerate hundreds of sub-postmasters wrongly convicted during the Horizon IT scandal. Following ITV’s excellent dramatization, Mr Bates vs The Post Office which aired last week, there is growing pressure on the government to respond to the “biggest miscarriage of justice” in British history. The Justice Secretary is looking at whether the Post Office can be "stripped of its role in the appeals process". If you have not seen the drama, you must. I was mad and sad in equal measure. Editor

4. UK introduces increased tax rate. Major economies including the EU, UK, Australia, South Korea, Japan and Canada have started to apply an effective tax rate of at least 15% on profits of big multinational companies last week, kicking off an OECD-led global tax reform. It aims to help curb countries' "race to the bottom" on corporate tax rates in order to attract investment and is expected to raise annual tax revenue by up to 9%, or €201bn (£174bn/$220bn) worldwide. Ireland, Luxembourg, the Netherlands, Switzerland and Barbados, which previously had a corporate tax rate of 5.5%, are among the more than 50 countries now implementing the first part of the two-pillar deal. It intends to ultimately establish tax collection rights between participating nations. Financial Times

5. EU women top power list. Every year, Forbes releases its list of the world's most powerful women with one leading from the front. The publication has, yet again, bestowed the title onto European Commission President Ursula von der Leyen for the second year in a row. Second on the list was the French president of the European Central Bank, Christine Lagarde, who has been in the role since 2019. The US vice-president Kamala Harris came third on the list as the Democratic Party gears up for the 2024 presidential election. As ever, the latest Power List was determined by four main metrics: money, media, impact and spheres of influence. Business Insider

6. Your next remote work destination. Remote work has redefined industries as well as the global job market, and an increasing number of workers, loath to return to the office after the pandemic, now enjoy a digital nomad lifestyle. In an effort to attract these types of workers, countries have opened up their visa and tax policies in the last few years – and none more than Spain. According to this year’s Digital Nomad Visa Index, the European country claims the top spot for digital nomads in 2024. Argentina, Romania, Croatia and the UAE round out the top five. The index ranked countries based on a host of things, including visa availability, internet speed, tax policies and cost of living. CNBC

7. Fossil fuel use lowest since 1957. Fossil fuel consumption has hit its lowest level in the UK since 1957, according to a report from Carbon Brief, as renewable energy generation surged, and electricity imports increased from France and Norway in 2023. The electricity generated by gas and coal power plants fell by 22% year-on-year in 2023, while renewable energy provided a record 42% of power, becoming the UK's largest power source. Last year also marked the third year this decade that wind, solar, hydro, biomass and other renewable energy powers outperformed fossil fuels. The report comes as the Met Office confirmed that 2023 was the UK's second hottest year since records began in 1884. The Guardian

8. Government misses EV charging target. The government has missed a crucial target for electric vehicle charge points, according to the RAC. The Department for Transport had set a target for every motorway service station to have at least six rapid or ultra-rapid EV charge points by the end of 2023. The RAC's data, however, suggests that only four in 10 service stations meet this number. It also found that 178 chargers have been installed since April, but that only 46 of 119 stations had high-powered charging points, and some stations – including Leicester Forest on the M1 and Barton Park on the A1 - had no charging facilities at all. BBC

9. Is non-alcoholic the new norm? A growing share of young adults in Britain are eschewing alcoholic beverages for low or no-alcohol drinks, according to a new YouGov survey. Results found that 44% of 18-24-year-old drinkers now regularly or occasionally opt for sober alternatives, up from 31% in 2022. The poll also revealed this age group had the most teetotalers overall at 39%. Of those trying substitutes, 23% said they helped reduce drinking, a slight increase from last year. However, separate research shows many Brits remain worried about unhealthy alcohol consumption, with one in 10 admitting their own relationship with drinking is problematic. Sky News

10. The bottom line. Almost half of British teenagers say they feel addicted to social media, according to a new study. A team at the University of Cambridge found that 48% of 16-18 year olds agreed or strongly agreed with the statement “I think I am addicted to social media”. A higher proportion of girls (57%) agreed compared to boys (37%). Evening Standard