For all the talk of the UK’s declining influence on the world stage, a new report paints a pretty optimistic picture. The latest Global Power City Index ranks 44 major cities according to their “magnetism”. For the 10th year in a row, it places London top of the pile.
In measuring the “power to attract creative individuals and enterprises from around the world”, the report evaluates cities on the basis of 70 indicators in six categories: economy, R&D, cultural interaction, liveability, environment and accessibility.
Culture continues to boost London’s credentials, but the authors take a relaxed view of political factors too: “While there remains some uncertainty surrounding the UK’s exit from the EU, London’s balanced strengths mean the city has the potential to turn challenges into opportunities, extending its commanding lead and continuing forward as the top-ranked city globally in which to live and work.”
This matters most given that the authors took occupier considerations seriously: “Global players today are seeking cities not just with a strong business environment, but those additionally offering improved lifestyles. For global cities to thrive, they need to bolster their overall magnetic power; this will help them to attract talent and investment from around the world.”
Over-optimistic? For what it’s worth, the index is put forward by an arm of one of Japan’s largest developers: the Mori Memorial Foundation’s Institute for Urban Strategies. If it saw UK real estate risk, it would surely have taken that into account.
• Here’s the boss of quite a well-known company – Apple, you may be familiar with their products – nailing a revolution in corporate leadership. “I think the CEO role has changed,” Tim Cook told students at Oxford university this week. “Historically, CEOs focused on revenues, profits, shareholders. I think that’s a limited view of the world.”
For Cook that means speaking out on issues that matter – not least Donald Trump. It’s about “standing on principle and being authentic”.
And it’s compatible with Apple’s founding principles – “to change the world [and] make tools to empower other people to do incredible things.”
Running the world’s largest company offers a great platform to be forthright. But it comes with risk: Cook, potentially, has more to lose. So with arguably less at stake, why should we expect real estate leaders to be less outspoken on housing, Brexit and other issues that matter?
• To Glasgow, where Spanish billionaire and Zara owner Amancio Ortega has placed the city’s Apple store under offer for £48m – more than £7m above the asking price. It prompted one agent to ask: “Why are we battling to persuade domestic investors to come, when one of the world’s richest men can see the opportunity?”
• Here’s a shrewd appointment, the like of which we should see more. Housing association L&Q has poached Andy Brown from Argos. Brown is a retail executive who most recently helped lead Argos’s digital transformation. What will he bring to L&Q? Well, one business is a sector heavyweight with a diverse customer base and a need to stay at the forefront of tech adoption. The other is one of the best known names on the high street.
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