2019 was a massive year for sport and 2020 promises to be just as intriguing. Euro 2020, Wilder vs Fury II, The Hundred, The Ryder Cup and Men’s Twenty20 World Cup are just a selection of events to look forward to in the coming twelve months, whether it be from the comfort of your sofa or at the events themselves. But the stand-out events have to be the Olympics (and then Paralympics) in Tokyo which start in exactly six months’ time on Friday. The preparations are well under-way, with all the permanent venues now completed and the Olympic Rings monument installed this week. Whilst there are five new sports being included in these games to spice up the usual offering, where Tokyo is trying to ensure it stands out from the crowd is by being the most environmentally friendly Games ever. The medals are being made from 6.2 million recycled mobile phones; recycled household plastic waste is being used to make the podiums; electricity is coming from renewable sources, and the Olympic torch is made using recycled aluminium. The latest eco-friendly initiative announced last week is that the 18,000 beds in the Olympic Village are all going to be made from high-strength cardboard, prompting immediate questions about the loads these beds can support, not only given the size and weight of many of the athletes, but also the reputation of what goes on in the Village. The manufacturer’s response? “As long as they stick to just two people in the bed, they should be strong enough to support the load.” Brilliant.
Three weeks into a new year and the property industry has already seen a glut of research publications released, reminding us what did (and didn’t happen) last year, and what we should expect in 2020. Tuesday evening saw the IPF’s annual 'Outlook for the Year' seminar held at Allen & Overy’s offices near Liverpool Street. Like much of the UK property industry, The Weekly was in attendance to hear presentations on the economy, real estate securities and the outlook for property. The slides are attached (courtesy of the IPF), but for those of you with insufficient time or inclination to click here,The Weekly’s top dozen takeaways were (1) global growth has slowed; (2) weak UK manufacturing data still persists; (3) business sentiment since the General Election has improved, albeit only slightly; (4) pay is rising (finally); (5) HSBC expects an interest rate cut in May (but hasn’t ruled one out sooner); (6) alternatives have the greatest potential; (7) open-ended funds' structures are going to come under increased scrutiny (again); (8) there is currently a compelling case for real estate securities; (9) the risk-free rate is probably lower than we all thought; (10) London office yields look particularly appealing in a European (and global) context; (11) retail valuations do not yet reflect what the market will pay; and (12) the UK property market may well now experience a modest recovery in 2020. Here’s hoping!
Tomorrow is Blue Monday, the most depressing day of the year. Or so we were told back in 2005 by Dr Cliff Arnall, who came up with a so-called formula for predicting the day when people are most despondent. This was based on factors including weather, debts, time since Christmas and motivation. He concluded unhappiness peaked at the third Monday in January (i.e. tomorrow) as festive bills roll in and the post-holiday buzz wears off. However, researchers have now found that this is not the case, after discovering people are way gloomier in November. Hooray!! Despite Blue Monday being scientifically questionable, we shouldn’t, however, scoff at this so-called ‘event’. It’s estimated that one in four people in the UK will suffer from a mental health problem this year. 32% of all UK adults in full-time employment have suffered from mental health problems. Around one in six people show signs of anxiety and depression each week in the workplace. A lot of good work is being done to break the taboo surrounding the subject of mental health at present, although more still needs to be done. Dismiss Blue Monday if you like, but tomorrow is as good a day as any for us all to use for reflection, to consider our workplace cultures and to make sure nobody is left to suffer in silence.