EDITION 1023
10 JUNE 2024

With the government's plans to bring back national service being a hot topic in the debates, last week we asked whether bringing back national service was a good idea. Our readers' opinions were nearly split down the middle with 46% saying yes, 48% saying no, and 6% not sure. This week we learned that, compared to two years ago, consumer confidence in television advertising has increased vis-a-vis news media and government by a notable 7%, so this week we ask: Do you trust advertising now more than you did two years ago? Please vote in our poll at item five, below.

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 change your thinking. Groundbreaking ideas are no longer a luxury when success is contingent upon an organisation’s ability to adapt, innovate, and improve. To surface groundbreaking ideas, you need to challenge the long-held beliefs the people in your organisation hold about doing business READ MORE

2. New polls have added to the Conservatives' woes. YouGov's first MRP poll of the general election forecast a 194-seat Labour majority – beating its landslide victory in 1997. A More in Common MRP poll had Labour's majority much lower, at 114 seats, but still nearly doubling their number of MPs from 2019. Nearly three-quarters (73%) of Britons wouldn't trust MPs to tell the truth, according to a YouGov poll of 2,000 people for campaign group Sortition Foundation. Of those who said they were unlikely to vote, more than half said the decision was motivated by a lack of faith in politics. More than half (53%) of small business owners haven't made a final decision on whom to vote for in the upcoming general election. Of 1,341 polled by the Federation of Small Businesses, 20% were undecided, while a further 33% said they had an idea whom they would back but could change their mind. Editor

3. What ECB's rate cut means. In a widely anticipated move, the European Central Bank (ECB) cut interest rates by 25 basis points at its meeting in Frankfurt, despite lingering inflation pressures. This marks the ECB's first cut since September 2019, with the key rate now standing at 4%. While markets had fully priced in this reduction, with expectations of one further cut this year, economists forecast two more rate cuts in 2024. Investors will be closely scrutinising the language used by the governing council and the tone struck by president Christine Lagarde. For homeowners with mortgages, the move could translate into slightly lower repayments, while savers may see a dip in interest rates on their deposits. On the other hand, businesses are likely to view the rate cut positively as borrowing costs come down, as evidenced by the market's positive reaction. Reuters

4. British universities slip down global rankings. More than half of British universities featured in a leading global ranking of academic institutions have seen their ratings decline this year as the UK higher education sector faces a financial squeeze and domestic political attacks on its reputation. The annual QS World University Rankings features 90 British universities, including three in the top five, but lower-ranked institutions have gradually fallen down the list in the face of a looming funding crisis and increasing competition from Asia. Massachusetts Institute of Technology topped the rankings for the 13th year in a row. Imperial College London took second place from Cambridge, which slipped to fifth, while Oxford retained the third spot. Financial Times

5. Trust in advertising grows. For the first time in a decade, advertising is no longer the least trusted industry in the UK, according to new research from the Advertising Association. Surpassed by the media and government, some 30% of consumers surveyed say they trust advertising, an increase of 7% since 2022. Trust is notably higher among young people, with 50% expressing confidence, while only 22% of over-55s share this sentiment. Of all advertising media, television was considered the most trustworthy, with 41% of consumers trusting it. Do you trust advertising more now than you did two years ago? Please let us know in our latest poll. VOTE HERE

6. Career wisdom for younger self. I regularly deliver talks to entire school year groups who are preparing to take their GCSEs. Looking back on my career, there were many things I wish I had known in the beginning that may have made the journey a little smoother from putting myself out there to network to accepting that failure happens. There always seemed to be a lot to navigate. Some of the nuggets I share with students in my talks include the importance of patience when it comes to building expertise and seniority, and that setbacks should be viewed as stepping stones, not roadblocks, as they build resilience. Other favourite tips of mine include always be willing to learn more, no matter what role you have; and, to take risks, step outside your comfort zone, and aim high. If you are connected to a school and would like me to deliver a complimentary talk, please get in touch. CONTACT US

7. Rent growth slows to 30-month low. Annual rental inflation in the UK has slowed to a 30-month low of 6.6%, according to a new report by Zoopla. Demand has decreased by 25% from its peak, but there are still 15 people chasing every available rental home, more than double the pre-pandemic level. London has the lowest rental inflation at 3.7%, with wide variations between inner and outer areas due to affordability. Zoopla expects UK rent inflation to slow to 5% this year, with affordability becoming a growing constraint on rent inflation more than material changes to supply and demand, which are expected to remain imbalanced. Financial Times

8. World sees warmest May on record. Last month was the warmest May on record globally, marking the 12th consecutive month to break temperature records, according to the Copernicus Climate Change Service (C3S). Over the past year, the world's average surface air temperature was 1.63C above the pre-industrial average and 0.65C above the 1991-2020 average. Countries had agreed at the UN climate conference COP [Conference of the Parties] in 2015 to work to limit global warming to 1.5C above the pre-industrial average to prevent the worst effects of climate change. A breach of this agreement would happen if temperatures averaged above 1.5C over decades. Separately, the World Meteorological Organization (WMO) has found that the world's average surface temperature for the next four years is predicted to be between 1.1C and 1.9C above the pre-industrial baseline. The Telegraph

9. Happiest country for retirees named. Disneyland may claim to be the happiest place on earth, but for seniors it is another D: Denmark. In its first ranking of countries by age group, the World Happiness Report found that senior Danes are the happiest followed closely by the Finnish. The United States and United Kingdom were ranked 10th and 20th respectively. Countries were ranked based on their self-assessed life evaluations with six key variables contributing to explaining their evaluations. These were GDP per capita, social support, healthy life expectancy, freedom, generosity, and corruption. World Happiness Report

10. The bottom line. The number of children who enjoy writing in their spare time has fallen to a record low, as they spend more time on smartphones and other devices, a survey by the National Literacy Trust (NLT) has found. Fewer than three in 10 (28.7%) of children aged eight to 18 say they enjoy writing when they're not at school, down from 46.8% in 2010. Daily Mail