ISSUE 73 /

A BULLETIN FOR
BIG IDEAS AND
BETTER BUSINESS.

OPINION / CREATIVITY

Downturn?
Keep your
head up

💬 Sir John Hegarty 

The dispiriting results continue to roll in. Most of us are bored of hearing about how slowly growth is progressing around the globe. But economists keep telling us. Morgan Stanley, a bank, says that the world is dawdling again, with growth expected to be down this year, and in 2026. The great deceleration is largely down to US trade policies, apparently, and 2025 will mark the slowest expansion since the pandemic.

I’m not sure how useful this information is to entrepreneurs. Anyone starting or scaling a business shouldn’t be discouraged by things like a dip in consumer confidence, falling GDP, or investors tightening the purse strings. Conditions like these can be an advantage too. When I joined TBWA in 1973, the agency was just three years old. It had launched successfully in Paris, Milan, and Frankfurt. Now it was London’s turn.

We had barely moved into the office when – suddenly – a black hole seemed to open up and swallow the whole world economy. The price of oil trebled, the unions went on strike, and – in a move that far predates the modern concept of the four-day week – Britain shifted to a three-day week in order to conserve energy and keep the lights on (note: candles are great for mood lighting or fine dining, they’re bad for art direction).

Nevertheless, TBWA was where I learned how to run a business. And when times are harder, you learn faster. Many of the galling lessons absorbed there helped us out of trouble later on when John Bartle, Nigel Bogle and I started up BBH. It’s worth remembering also, that TBWA produced some outstanding work. In 1980, it was voted Campaign magazine’s very first ‘Agency of the Year’.

Eventually, the economy picked up again. Here’s the thing to remember: you can control the quality of your work, who you bring onboard, and which clients to pursue. The rest is up to fate. When all around are losing their heads, keep yours up. Especially in a downturn.

THE AGENDA

🗓️ Diarise this: your agenda for the coming week

1.
Trafalgar Square will be humming with Broadway buzz this weekend when West End Live returns. Over two days, the square will provide an al fresco stage for free live performances from hit shows including Evita, Cabaret and The Producers. Bring your own jazz hands.
21st – 22nd June

2.
France comes alive with the sound of music on Saturday as the Fête de la Musique takes over streets, squares and concert halls across the country. The event offers a varied mix of genres and talents, from amateur jazz trios to symphony orchestras and rock bands — all performing for free.
21st June

3.
Had a ruff week? Friday is officially Take Your Dog to Work Day. Spending time in the company of pooches has been shown to decrease anxiety and stress - two feelings that inhibit creativity.
20th June

4.
Taste of London returns to Regent’s Park this week, dishing up five days of culinary celebration. With tastings, live demos and appearances from top chefs like Melissa Hemsley and James Cochran, the festival is a sizzling showcase of London’s dynamic dining scene.
18th – 22nd June

5.
The Vancouver International Jazz Festival will be hitting all the right notes when it takes over the city this week. From breakout stars like Nubya Garcia to visionary icons such as Kahil El’Zabar, the line-up showcases the full spectrum of jazz.
20th June – 1st July

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LONDON / EXHIBITIONS

An artful
display

The Royal Academy’s Summer Exhibition opens to the public today, and with it comes the usual riot of creativity – 1,729 works spanning every imaginable medium. But this year’s standout feature isn’t just what’s on the walls, but how it’s arranged. Architect Farshid Moussavi, acting as exhibition co-coordinator, has reimagined the show’s spatial logic with a quiet brilliance. Gone is the crowded architecture room; instead, architectural models and drawings now sit seamlessly alongside paintings, prints, and sculptures across all 13 galleries. The result is an experience that feels calmer, brighter, more breathable. Subdued wall colours – cool greys in place of the bold hues of the last few editions – allow the art to shine without competition. What might have been overwhelming now flows with clarity and ease, a testament to the power of top-notch curation.

ON CREATIVITY /

EUROPE / TRAVEL

On the
right track

Eurostar has unveiled ambitious plans to expand its network, including new routes from the UK to Germany and Switzerland, plus a fresh service linking Amsterdam to Geneva via Brussels. The move comes as part of a sweeping €2 billion investment that will see the cross-channel operator grow its train fleet by up to 50 trains. It’s a bold signal of confidence in Europe’s so-called “rail renaissance,” as demand for low-carbon, cross-border travel surges and governments push for greener alternatives to flying. With climate concerns rising and passengers seeking more seamless international journeys, Eurostar’s expansion could mark a major shift in how Europe moves. More cities connected, more trains running, and a renewed belief that the journey itself can be part of the adventure – not just the destination.

BASEL / ART FAIRS

Basel: boom
or bust?

Art Basel returns this week with more than 280 top galleries showcasing work from over 4,000 artists, alongside a packed programme of talks, exhibitions and events across the city. This year’s edition, however, unfolds against an uncertain backdrop: global art sales dipped 12% in 2024, and looming US tariffs are rattling nerves in a market where American collectors still hold considerable sway. Despite the turbulence, there’s reason for optimism. The fair’s new Premiere section spotlights ultra-contemporary work aimed at younger, emerging collectors – a demographic that’s growing even as high-end spending wavers. With the middle and lower tiers of the market seeing increased activity, and galleries reporting fresh faces among their buyers, Basel seems poised to capture a new generation of patrons – even as the art world’s old guard watches nervously from the wings.

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