EDITION 1032
12 AUGUST 2024

This week's edition of 10 things is coming to you from The Hague, where the disorder affecting parts of the UK is headline news.

So far, the press here reports, at least 275 people have been charged with offences linked to the violent disorder across the UK, with more than 40 already sentenced. Of the 389 individual charges violent disorder was the most common, with 154 counts. There were 32 counts of possession of a weapon and 29 of assaulting an emergency worker. At least 17 alleged offences were specifically listed as racially or religiously aggravated. There were also 18 people charged with offences involving social media or other online activity. Of the 275 people charged, at least 252 are men. The average age overall of suspects is 30.

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William Montgomery
Editor and CEO of TEN

1. How to give your boss bad news. It can be daunting to bring a problem to your manager, especially when you are just starting out. But these conversations are an inevitable part of every job. Learning to have a productive conversation during a crisis requires intention and patience. READ MORE

2. UK post-pandemic growth higher than previously estimated. The UK economy emerged from the Covid-19 pandemic in a stronger state than previously thought, according to revised data that give more weight to the healthcare and energy sectors. The Office for National Statistics said that it now estimated annual volume GDP growth for 2022 at 4.8 per cent - 0.5 percentage points above its previous estimate of 4.3 per cent. In an update released on Wednesday, the agency also made small revisions of 0.1 percentage point to estimates for 2021 and 2020, with those for earlier years unchanged. The upgrade for 2022 - a year when the UK was contending with surging inflation and market turmoil in the wake of Liz Truss’s “mini” Budget - was partly due to stronger growth in the transport, professional and business support industries, visible to the ONS now it has fuller administrative and survey data. Financial Times

3. What it pays to be an Olympian. When Olympic athletes win gold, they take home six grams of the precious metal around their necks, worth roughly €880 (£750). What else can they expect in terms of earnings? Serbia, Italy, Lithuania, Moldova, Latvia, Hungary, Bulgaria, Ukraine, Kosovo and Estonia are reportedly among the European countries paying their Olympic gold champions six-figure rewards between €200,000 and €100,000. Even the continent's top payers fall far behind the global top three Hong Kong, Singapore and Taiwan though, where gold medalists win between €690,000 and €550,000. Brits, Norwegians and Swedes, meanwhile, get no cash bonuses at all and are presumably incentivised by the potential glory – and brand endorsement contracts. The Dutch Review

4. July was second hottest on record. Last month was the second hottest July for the planet on record, breaking a stretch of 13 months which were the warmest. On average, it was 1.48C warmer last month than the pre-industrial average. The previous 12 months were 1.64C warmer on average. However, while July this year broke the streak, it was still the second-hottest month globally on record, and just 0.04C cooler than last July, the warmest month ever seen, scientists at the EU's Copernicus Climate Change Service found. The two hottest days on record also took place last month, on 22 and 23 July. Copernicus says the high temperatures are due to climate change, largely as a result of greenhouse gas emissions. Southern and eastern Europe saw particularly high temperatures last month, along with the western US and Canada, the Middle East, Asia, much of Africa and the eastern part of Antarctica. Northern Europe experienced a wetter-than-average July. Financial Times

5. Investors seek clarity after turmoil. Global stock markets closed a turbulent week, which saw Wall Street's 'fear gauge' – the VIX – reaching its highest level since the 2020 market crash on a subdued note. European shares rose slightly. US markets also ticked up slightly on Friday after a big jump on Thursday. Investors remain unsure about the health of the global economy and the possibility of a potential recession. They're watching closely for hints about whether the US central bank follows the Bank of England and the European Central Bank's footsteps and lowers interest rates, which could help boost growth. The upcoming reports on US inflation on Wednesday and retail sales on Thursday will give more clues about the economic situation. Even as calls for rate cuts get louder; inflation remains an issue across the developed world. CNBC

6. A cautious reduction. The Bank of England cut interest rates “for the first time since the pandemic”. In a “finely balanced” decision, the Monetary Policy Committee voted 5-4 to reduce rates from 5.25% to 5% – “a possible sign that further reductions may come only slowly and cautiously”. Governor Andrew Bailey was certainly “careful to manage any exuberance”, saying the BoE remains alert to the risk of inflation rising again. Nevertheless, this is a “turning point”. UK borrowing costs have been “stuck at a 16-year high”, weighing on the economy. The Bank’s decision “will give homeowners and businesses some relief, and maybe even the confidence to invest”. BBC

7. Record numbers taking ADHD medication. According to the latest NHS data, 278,000 patients in England were prescribed the treatments between April 2023 and March 2024. That is almost 18% more than just a year earlier. The biggest increase was in women: the number of 25to 40-year-old women prescribed the drugs tripled between March 2021 and March 2024. ADHD was originally thought of as a hyperactivity disorder that affected boys, and so went overlooked in girls, in whom it tends to manifest itself as inattentiveness. So what we are seeing is likely to be at least in part a catch-up situation where these women are coming forward. The Guardian

8. House prices may affect birth rates. Dutch research has found a possible link between rising house prices and declining birth rates. Regions such as Greater Amsterdam, where property prices have increased considerably, have seen much sharper declines in child births compared to more affordable areas. The average number of children per woman has dropped from 1.8 to 1.43 in the Netherlands over the past 13 years. The study suggests that up to a quarter of this decline could be linked to higher house prices. Falling birth rates is a European-wide issue. Birth levels in the EU dropped in 2023 to levels that Eurostat was not forecasting for another two decades. Netherlands Times

9. Scientists hail ‘smart’ insulin. Scientists have developed a ground-breaking "smart insulin" that responds in real-time to changing blood sugar levels, potentially transforming the treatment of type 1 diabetes. Unlike current synthetic insulin, which requires frequent injections, the new glucose-responsive insulin activates only when needed, reducing the risk of hyperglycemia and hypoglycemia. The innovation, supported by a £50 million research investment, could significantly ease the daily burden of diabetes management and is seen as a major step towards a cure. The Guardian

10. The bottom line. Keir Starmer’s net approval rating has fallen by 16 points in a fortnight to +3%. Rachel Reeves, the Chancellor, has also seen her net score fall over the same period, by 23 points to –12%. Daily Telegraph