Wednesday 18 June 2025

The Mighty Headlines

Economics: US records drop in retail sales

Business and markets: Israeli stock market hits all-time high

Foreign Affairs: China signs new deal with “The Stans”

Security and intelligence: US gets involved over Iran

Domestic politics: Downing Street says small boat crossings “deteriorating”

The Mighty Stats

FTSE = 8,834.03 (down 0.46%)

S&P 500 = 5,982.72 (down 0.84%)

Nasdaq = 19,521.09 (down 0.91%)

CAC40 = 7,683.73 (down 0.76%)

£1 = $1.34 / €1.17

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The Mighty Detail

Economics: The US recorded a drop in retail sales last month of 0.9 per cent. This was more than the 0.6 per cent that had been expected. The drop may partly be the result of US consumers buying goods earlier in the year in advance of US tariffs coming into force.

Business and markets: The Tel Aviv 35 stock index hit an all-time high yesterday. It comes as investors see the potential economic benefits to Israel of eliminating the threat posed by Iran. European markets, however, closed between 0.5 per cent and 1 per cent lower yesterday.

Foreign Affairs: As the G7 met in Canada yesterday, China’s President Xi signed a treaty with five Central Asian countries. The deal aims to deepen trade, energy and infrastructure cooperation with Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan. China last held a summit with The Stans in 2023, also when the G7 was meeting.

Security and intelligence: President Trump called for Iran’s “unconditional surrender” yesterday, stating that “we now have complete and total control” of Iranian skies. US military aircraft are reported to be mobilising to move to the Middle East.

Domestic politics: Downing Street has said that that the number of small boat crossings by migrants across the English Channel is “deteriorating”. The total number of migrants coming across the Channel has reached a little over 16,000 this year. This is 42 per cent higher than at the same point last year.

The Mighty Calendar

What’s happening today?

• US Federal Reserve interest rate decision

• President Macron speaks at UN conference on Palestine

• Prime Minister’s Questions in UK Parliament

• UK, Eurozone CPI inflation data (May)

Lookahead to tomorrow

• US public holiday (Juneteenth)

• Deadline for ByteDance to divest from TikTok in the US

• Bank of England interest rate decision

• Sir John Major gives speech on standards in public life

The Mighty Finale

🌤️Weather today

Sunny in England. High of 27C and low of 15C in London. Light cloud in Belfast and Edinburgh.

✏️Life coaching quote of the day

“People who cannot find time for recreation are obliged sooner or later to find time for illness.” – John Wannamaker, US businessman and public official

Mighty takeaway: Take time to rest amid the business of modern life.

That’s it for this Wednesday morning. Thanks for reading and we’ll see you again on Friday.

Cheerio!

The Mighty Memo team

Monday 16 June 2025

The Mighty Headlines

Economics: Bank of England expected to hold interest rates this week

Business and markets: Boeing forecasts 40% increase in air travel demand

Foreign Affairs: Tourism protests in Spain, Italy and Portugal

Security and intelligence: Trump vetoes Israel’s killing of Iran’s leader

Domestic politics: UK Government to publish £725 billion infrastructure plan

The Mighty Stats

FTSE = 8,850.63 (down 0.39%)

S&P 500 = 5,976.97 (down 1.13%)

Nasdaq = 19,406.83 (down 1.3%)

CAC40 = 7,684.68 (down 1.04%)

£1 = $1.36 / €1.17

*If you’ve been forwarded the Mighty Memo, subscribe for free at www.mightymemo.co.uk. You’ll receive the Mighty Memo directly in your inbox as soon as it’s published!*

The Mighty Detail

Economics: The Bank of England is expected to hold interest rates at 4.25 per cent when it meets on Thursday. It comes as inflation in the UK rose to its highest level in over a year in April, reaching 3.4 per cent. Unemployment also rose to 4.6 per cent in the three months to April, the highest level since 2021.

Business and markets: Boeing has said that it expects global demand for air travel to increase by more than 40 per cent by 2030. Over the next 20 years Boeing said it expects demand for 43,600 new aircraft. Its rival Airbus expects demand for 43,420 aircraft.

Foreign Affairs: Protests against overtourism took place in Italy, Spain and Portugal yesterday. Barcelona, Palma, Naples, Milan and Lisbon were some of the cities affected. The protestors state that overtourism is increasing house prices and forcing locals out of their hometowns.  

Security and intelligence: It is being reported that President Trump has blocked Israel’s intention to kill the Supreme Leader of Iran, Ayatollah Ali Khamenei. The White House is concerned that such a move would move the current conflict beyond striking Iran’s nuclear facilities into a wider regional war.

Domestic politics: The UK Government is expected to publish a 10-year infrastructure plan this week. Around £725 billion is set to be invested in railway lines, power plants and affordable homes. A new government body, the National Infrastructure and Service Transformation Authority will help with delivery.

The Mighty Calendar

What’s happening today?

• G7 Summit in Alberta, Canada continues

• King Charles attends Service for the Order of the Garter

• Statements in UK Parliament expected on Air India crash and the Middle East

• Bank of Japan interest rate decision

Lookahead to tomorrow

• Final day of G7 Summit in Alberta, Canada

• France and Saudi Arabia host UN Conference on Palestine

• UK Defence Secretary John Healey addresses RUSI Land Warfare Conference

• Crime and Policing Bill debated in UK Parliament

• US retail sales and industrial production data (May)

The Mighty Finale

🌤️Weather today

Sunny spells across the UK. High of 26C and low of 15C in London.

✏️Life coaching quote of the day

“Do not spoil what you have by desiring what you have not; remember that what you now have was once among the things you only hoped for.” – Epicurus, Ancient Greek philosopher

Mighty takeaway: Take time to enjoy what you have now.

That’s it for this Monday morning. Thanks for reading and we’ll see you again on Wednesday.

Bye!

The Mighty Memo team

Friday 13 June 2025

The Mighty Headlines

Economics: China temporarily restores rare earth exports to US 

Business and markets: Netflix and Amazon increase Pinewood profits 

Foreign Affairs: Iran to build new uranium enrichment facility

Security and intelligence: Pentagon reviews US-UK-Australia defence deal

Domestic politics: IFS suggests UK Government to raise taxes at Budget

The Mighty Stats

FTSE = 8,884.92 (up 0.23%)

S&P500 = 6,045.26 (up 0.38%)

Nasdaq = 19,662.48 (up 0.24%)

CAC40 = 7,765.11 (down 0.14%)

£1 = $1.36 / €1.17

*If you’ve been forwarded the Mighty Memo, subscribe for free at www.mightymemo.co.uk. You’ll receive the Mighty Memo directly in your inbox as soon as it’s published!*

The Mighty Detail

Economics: China is temporarily restoring export licences for rare earth metals to US car makers but for six-months only. The move is a partial win for the US but ensures China keeps leverage in trade talks.

Business and markets: UK film studio Pinewood has reported a turnover of £213.1 million in the year to March 2025. It recorded pre-tax profits of £35.3 million over the same period, an increase from the £24.5 million in 2024. Pinewood cites long-term deals with Netflix, Disney and Amazon as factors in the increase.

Foreign Affairs: Iran has said that it plans to build a new uranium enrichment centre. The plans are a response to a resolution adopted yesterday by the International Atomic Energy Agency (IAEA) which criticised Iran for failing to cooperate fully with IAEA investigations.

Security and intelligence: The Pentagon is considering ending a defence agreement with the UK and Australia. The so-called “AUKUS” deal, agreed under President Biden, is designed to counter Chinese influence in the Pacific and includes investment in nuclear submarines and hypersonic weapons. The US Defense Department said the review would determine whether AUKUS was “aligned with the President’s America First agenda”.

Domestic politics: There are suggestions that the UK Government will need to raise taxes in its Budget this autumn. Following the Spending Review on Wednesday and downbeat economic forecasts, the Institute for Fiscal Studies think tank suggested that the Government is only a “gnat’s whisker” away from having to raise taxes.

The Mighty Calendar

What’s happening today?

• Assisted Dying Bill returns to the House of Commons for debate

• Kemi Badenoch attends Scottish Conservative Party Conference

Lookahead to tomorrow

Saturday

• Trooping of the Colour, London (King Charles’s official birthday)

• US military parade for President Trump’s birthday, Washington D.C.

• Rishi Sunak delivers Stanford Business School address

Sunday

• Father’s Day (UK)

• G7 Summit, Alberta, Canada

• F1 Canadian Grand Prix

• The US Men’s Open Golf Championship

The Mighty Finale

🌤️Weather today

Sunny in most places but rainy in Cornwall. High of 27C and low of 17C in London. Light rain in Belfast and Edinburgh.

✏️Life coaching quote of the day

“Focusing on what you can’t control makes you stressed. Focusing on what you can control makes you powerful.” – Mel Robbins, writer

Mighty takeaway: Nothing more to add!

That’s it for this Friday morning. Thanks for reading and we hope you have an enjoyable weekend.

Cheerio!

The Mighty Memo team

Wednesday 11 June 2025

TO: Mighty Memo Readers

FROM: Mighty Memo Editorial Department

SUBJECT: Mighty Memo business development

For those who may have missed Monday’s email, we will be devoting more time over the next few months to expanding the reach of the Mighty Memo. For this reason, we will be publishing the Mighty Memo on Mondays, Wednesdays and Fridays only. You will still receive the same great content three times a week. If ever you have any questions, please do not hesitate to contact us at hello@mightymemo.co.uk.

The Mighty Headlines

Economics: UK Chancellor gives Spending Review at 12.30pm

Business and markets: Warner Brothers to split into two companies

Foreign Affairs: UN agency says North Korea is building new nuclear facility

Security and intelligence: Taiwan indicts four people on espionage charges

Domestic politics: UK Government to decriminalise rough sleeping

The Mighty Stats

FTSE = 8,853.08 (up 0.24%)

S&P 500 = 6,038.81 (up 0.55%)

Nasdaq = 19,714.99 (up 0.63%)

CAC40 = 7,804.33 (up 0.17%)

£1 = $1.35 / €1.18

*If you’ve been forwarded the Mighty Memo, subscribe for free at www.mightymemo.co.uk. You’ll receive the Mighty Memo directly in your inbox as soon as it’s published!*

The Mighty Detail

Economics: The UK Chancellor is set to announce details of the Government’s Spending Review at 12.30pm today. Funding increases for schools, the NHS and defence are expected. Demands for additional funding for the police have been rejected by the Chancellor.

Business and markets: Warner Brothers has announced that it is to split its studios and streaming businesses into two separate public companies by next year. CEO David Zaslav said that the split between streaming and traditional television would give Warner Brothers “sharper focus and strategic flexibility”. Shares have increased by around 2 per cent this week.

Foreign Affairs: The International Atomic Energy Agency has confirmed that North Korea is building a new nuclear facility in Nyongbyon in the northwest of the country. There are suggestions that the new facility could support uranium enrichment and grow North Korea’s nuclear weapons stock. North Korea is prohibited by the UN from developing nuclear weapons but has repeatedly flouted the ban.

Security and intelligence: The Taiwanese authorities have indicted four people who are accused of spying for China. The individuals are all former members of the Democratic Progressive Party and include a former assistant to the then Foreign Minister and a Presidential Office adviser. The charges include divulging classified national security information to Beijing.

Domestic politics: The UK Government intends to decriminalise rough sleeping next year. Rough sleeping is currently a criminal offence under the Vagrancy Act 1824. Its repeal was first proposed by the previous Conservative Government in 2022. There were 59 convictions for rough sleeping offences in 2023. 

The Mighty Calendar

What’s happening today?

• Polish Parliament holds confidence vote in Government

• Prime Minister’s Questions in UK Parliament

• Three-month anniversary of the bin strikes in Birmingham, UK

• US CPI inflation data (May)

• Company results from: Oracle, Fuller Smith & Turner

Lookahead to tomorrow

• Foreign Secretary addresses Lord Mayor’s Summer Banquet

• Business Questions in UK Parliament

• UK GDP data (April)

• UK industrial and manufacturing production data (April)

• US initial jobless claims (weekly)

• Company results from: Tesco

The Mighty Finale

🌤️Weather today

Dry and sunny for most parts of England. High of 24C and low of 14C. Sunny in Belfast and Edinburgh too.

✏️Life coaching quote of the day

“The chief beauty about time is that you cannot waste it in advance. The next year, the next day, the next hour are lying ready for you, as perfect, as unspoiled, as if you had never wasted or misapplied a single moment in all your life. You can turn over a new leaf every hour if you choose.” – Arnold Bennett, writer

Mighty takeaway: What an excellent sentiment! It’s never too late to change.

That’s it for this Wednesday morning. Thanks for reading and we’ll see you again on Friday.

Bye!

The Mighty Memo team

Monday 9 June 2025

TO: Mighty Memo Readers

FROM: Mighty Memo Editorial Department

SUBJECT: Mighty Memo business development

Over the next few months, we will be devoting more time to expanding the reach of the Mighty Memo. So that we can focus on this development, we will be publishing the Mighty Memo on Mondays, Wednesdays and Fridays only. You will still receive the same great content three times a week. If ever you have any questions, please do not hesitate to contact us at hello@mightymemo.co.uk.

The Mighty Headlines

Economics: US and China meet in London for trade talks today

Business and markets: Pret a Manger owners looking at IPO or sale

Foreign Affairs: Mass anti-government protests in Madrid

Security and intelligence: Russia says it’s ready to take new Ukrainian land

Domestic politics: Zia Yusuf returns to Reform UK after resignation

The Mighty Stats

FTSE = 8,837.91 (up 0.3%)

S&P 500 = 6,000.36 (up 1.03%)

Nasdaq = 19,529.95 (up 1.2%)

CAC40 = 7,804.87 (up 0.19%)

£1 = $1.35 / €1.19

*If you’ve been forwarded the Mighty Memo, subscribe for free at www.mightymemo.co.uk. You’ll receive the Mighty Memo directly in your inbox as soon as it’s published!*

The Mighty Detail

Economics: Representatives from the US and Chinese Governments are holding trade talks in London today. The two sides will discuss tariffs and Washington’s complaint that China is delaying the export of rare earth metals which is contrary to an agreement made between the two sides last month.

Business and markets: The owners of sandwich shop chain Pret a Manger are in talks for a potential stock market listing or sale. JAB Holdings bought Pret for £1.5 billion in 2018. Pret’s core profit increased by 12 per cent in 2023 to £166 million but it is burdened with £740 million of debt.

Foreign Affairs: Large scale protests have taken place in Madrid against the incumbent socialist Government led by Prime Minister Pedro Sanchez. Tens of thousands of people are reported to have been at the protest yesterday which was called by the conservative People’s Party. The protests are seeking an early General Election following allegations of corruption against the Prime Minister’s wife, brother and a former transport minister.

Security and intelligence: Russia has said that its forces are moving further west into Ukraine and preparing to enter fresh territory. Russia’s defence ministry claims it has reached the edge of the Donetsk region and is now “developing the offensive” to enter the neighbouring Dnipropetrovsk region. Ukraine denies this claim.

Domestic politics: Zia Yusuf has returned to the Reform UK Party two days after resigning as Chairman. Yusuf now holds the position of head of the Party’s “UK DOGE” programme – a reference to the Trump Administration’s “Department of Government Efficiency” which was previously led by Elon Musk.

The Mighty Calendar

What’s happening today?

• Australia public holiday (King’s Official Birthday)

• Switzerland and Norway public holidays (Pentecost)

• UK Prime Minister hosts NATO Secretary General

• US and China meet in London for trade talks

• Housing Questions in UK Parliament

Lookahead to tomorrow

• Chief of the UK Defence Staff appears before UK Defence Committee

• Energy Questions in UK Parliament

• UK earnings data (April)

• UK unemployment rate (April)

The Mighty Finale

🌤️Weather today

Light rain in the north of England. Dry in the south. High of 20C and low of 13C in London. Heavy rain in Belfast and light rain in Edinburgh.

✏️Life coaching quote of the day

“There is only one way to happiness and that is to cease worrying about things which are beyond the power or our will.” – Epictetus, Ancient Greek philosopher

Mighty takeaway: This is true for all of us. Remember it!

That’s it for this morning. Thanks for reading and we hope you have a good start to the week. We’ll see you on Wednesday.

Bye!

The Mighty Memo team

Friday 6 June 2025

The Mighty Headlines

Economics: European Central Bank cuts interest rates to 2 per cent

Business and markets: Tesla shares fall by over 14 per cent

Foreign Affairs: Syria lets in UN nuclear inspectors

Security and intelligence: US vetoes UN resolution on Gaza

Domestic politics: Reform UK Chair resigns

The Mighty Stats

FTSE = 8,811.04 (up 0.11%)

S&P 500 = 5,939.30 (down 0.53%)

Nasdaq = 19,298.45 (down 0.83%)

CAC40 = 7,790.27 (down 0.18%)

£1 = $1.36 / €1.19

*If you’ve been forwarded the Mighty Memo, subscribe for free at www.mightymemo.co.uk. You’ll receive the Mighty Memo directly in your inbox as soon as it’s published!*

The Mighty Detail

Economics: The European Central Bank has cut interest rates to 2 per cent. It marks the eighth cut in a year and comes off the back of slowing economic growth resulting from US tariffs. The Bank also added, however, that increased defence and infrastructure spending in the EU would increase economic growth in the medium term.

Business and markets: Shares in Tesla fell by over 14 per cent during trading yesterday, taking $153 billion of the company’s value. It comes as CEO Elon Musk criticised the Trump administration’s tax and spending reductions and President Trump threatened to end Musk’s government contracts.

Foreign Affairs: The new Syrian Government is to give immediate access to its former nuclear sites to inspectors from International Atomic Energy Agency (IAEA). The UN agency will seek to provide a definitive view on whether the previous Syrian regime had been developing nuclear weapons. The IAEA praised the Syrian Government’s international cooperation.

Security and intelligence: The US has vetoed a UN Security Council resolution seeking an “immediate, unconditional and permanent ceasefire” in Gaza. The other 14 countries on the Council, including permanent members Russia, China, Britain and France, voted in favour. The US said the resolution drew a “false equivalence between Israel and Hamas”.

Domestic politics: The Chair of Reform UK, Zia Yusuf, has resigned stating that helping a Reform UK Government to be elected was no longer a “good use of my time”. It comes after Yusuf criticised the Party’s newest MP, Sarah Pichon, after she asked the Prime Minister whether he would support a ban on women wearing the burka.

The Mighty Calendar

What’s happening today?

• Singapore public holiday (Eid al-Adha)

• Court hearing for three Iranians charged under UK National Security Act

• Google annual shareholders’ meeting

• UK Parliament in recess

• Eurozone GDP data (Q1 2025)

• Canada and US unemployment rate (May)

Lookahead to the weekend

Saturday

• England vs Andorra in World Cup 2026 qualifier

• Roland Garros women’s singles final

• Derby Day, Epsom Downs

Sunday

• Axiom Mission 4 launch to International Space Station expected

• UEFA Nations League final

• Roland Garros men’s singles final

• Tony Awards

The Mighty Finale

🌤️Weather today

Rain for most areas. Drier later in the day. High of 19C and low of 12C. Thundery showers in Belfast. Light rain in Edinburgh.

✏️Life coaching quote of the day

“Let us learn to show our friendship for a man when he is alive and not after he is dead.” – F. Scott Fitzgerald, author

Mighty takeaway: Don’t take your family or friendships for granted.

That’s it for this morning and for this weekend.

Adios!

The Mighty Memo team

Thursday 5 June 2025

The Mighty Headlines

Economics: Trump legislation could add $2.4 trillion to budget deficit

Business and markets: Vodafone completes £15 billion merger with Three

Foreign Affairs: South Korea’s new liberal President takes office

Security and intelligence: China lodges complaint against Marco Rubio

Domestic politics: UK has two weeks to finalise US trade deal

The Mighty Stats

FTSE = 8,801.29 (up 0.16%)

S&P 500 = 5,970.81 (up 0.0074%)

Nasdaq = 19,460.49 (up 0.32)

CAC40 = 7,804.67 (up 0.53%)

£1 = $1.36 / €1.19

*If you’ve been forwarded the Mighty Memo, subscribe for free at www.mightymemo.co.uk. You’ll receive the Mighty Memo directly in your inbox as soon as it’s published!*

The Mighty Detail

Economics: The Congressional Budget Office in the US has said that a key piece of legislation enacting Donald Trump’s domestic agenda could add $2.4 trillion to the US Government’s budget deficit. The Bill, officially called the “One Big Beautiful Bill Act”, extends tax cuts, ends clean energy incentives and cuts Medicaid (a form of healthcare provision for Americans) by around $700 billion.

Business and markets: Vodafone completed a £15 billion merger with its rival Three earlier this week. Vodafone has said that it will invest £1.3 billion in network infrastructure over the next 12 months to create “one of Europe’s most advanced” 5G networks. The company’s shares have rise by 12 per cent since the start of 2025.

Foreign Affairs: South Korea’s new president officially took office yesterday. Lee Jae-myung, from the liberal Democratic Party, said that he would “never again” allow democratic institutions to be threatened. It comes after the impeached former President Yoon Suk Yeol briefly imposed martial law in South Korea last year.

Security and intelligence: The Chinese Government has lodged a complaint against US Secretary of State Marco Rubio. Ahead of the 36th anniversary yesterday of the Tiananmen Square Massacre, Rubio said that the Chinese Communist Party “actively tries to censor the facts, but the world will never forget”. The Chinese Government said in response that “the road of socialism with Chinese characteristics is the choice of history and the people."

Domestic politics: The UK has approximately two weeks to finalise its trade deal with the United States or it could face 50 per cent tariffs on steel. The US’s 50 per cent tariffs on steel for much of the rest of the world came into effect yesterday.

The Mighty Calendar

What’s happening today?

• Holyrood by-election for Hamilton, Larkhall and Stonehouse constituency

• NATO Defence Ministers meeting, Brussels

• Japanese private lunar lander “Resilience” due to land on the Moon

• Cabinet Office Questions in UK Parliament

• European Central Bank interest rate decision

• US, Canada trade data (April)

• US jobless claims (weekly)

Lookahead to tomorrow

• Singapore public holiday (Eid al-Adha)

• Court hearing for three Iranians charged under UK National Security Act

• Google annual shareholders’ meeting

• UK Parliament in recess

• Eurozone GDP data (Q1 2025)

• Canada and US unemployment rate (May)

The Mighty Finale

🌤️Weather today

Rain expected across the UK. High of 17C and low of 11C in London.

✏️Life coaching quote of the day

“I find that when we really love and accept and approve of ourselves exactly as we are, then everything in life works.” – Louise Hay, motivational writer

Mighty takeaway: What’s holding you back in life?

That’s it for this morning. Thanks for reading!

Cheerio!

The Mighty Memo team

Wednesday 4 June 2025

The Mighty Headlines

Economics: OECD cuts global economic growth for 2025

Business and market: Elon Musk seeks to raise $5 billion in debt finance

Foreign Affairs: Dutch government collapses

Security and intelligence: Ukraine blows up Russia-Crimea bridge

Domestic politics: Analysts state that UK Government will raise taxes by £10 billion in the Budget

The Mighty Stats

FTSE = 8,787.02 (up 0.15%)

S&P 500 = 5,970.37 (up 0.58%)

Nasdaq = 19,398.96 (up 0.81%)

CAC40 = 7,763.84 (up 0.34%)

£1 = $1.35 / €1.19

*If you’ve been forwarded the Mighty Memo, subscribe for free at www.mightymemo.co.uk. You’ll receive the Mighty Memo directly in your inbox as soon as it’s published!*

The Mighty Detail

Economics: The OECD has cut predictions for global growth this year to 2.9 per cent. This is a 0.2 per cent reduction from its forecast in March. UK growth was cut from 1.4 per cent to 1.3 per cent. Eurozone growth stays at 1 per cent. The OECD cites US tariffs as a factor in the weaker economic growth.

Business and market: Elon Musk is seeking to raise $5 billion in debt financing from investors to support his artificial intelligence company xAI. The company is also reported to be raising capital by selling $300 million worth of stock. Musk has returned full-time to his companies after finishing his 130-day contract with the US Government last week.

Foreign Affairs: The Netherland's coalition government collapsed yesterday. The Dutch Prime Minister, Dick Schoof, has stepped down. The collapse was precipitated by the departure of Geert Wilders, the right-wing politician, who said that the government would not agree to his strict migration plans. A snap general election will now be held.

Security and intelligence: Ukraine has blown up part of the bridge connecting Crimea to Russia. The Kerch Bridge is an important Russian supply route and was built to link Russia to Crimea after Russia annexed Crimea in 2014. The bridge was attacked using underwater explosives‎ and was partially closed to traffic yesterday.

Domestic politics: Deutsche Bank analysts state that the UK Government will be required to raise taxes by £10 billion at the Autumn Budget. Researchers state that higher inflation and higher spending will eat into the Government’s fiscal headroom and force it find additional income elsewhere.

The Mighty Calendar

What’s happening today?

• UK and Germany convene meeting of Ukraine Defence Contact Group

• Prime Minister’s Questions in UK Parliament

• UK, Eurozone service growth data (May)

• Bank of Canada interest rate decision

Lookahead to tomorrow

• Holyrood by-election for Hamilton, Larkhall and Stonehouse constituency

• NATO Defence Ministers meeting, Brussels

• Japanese private lunar lander “Resilience” due to land on the Moon

• Cabinet Office Questions in UK Parliament

• European Central Bank interest rate decision

• US, Canada trade data (April)

• US jobless claims (weekly)

The Mighty Finale

🌤️Weather today

Chance of light rain in the south and west of England. Dry elsewhere. High of 19C and low of 12C in London. Light rain in Belfast and Edinburgh.

✏️Life coaching quote of the day

“Excuses are the nails used to build a house of failure.” – Jim Rohn, motivational speaker

Mighty takeaway: What excuses are stopping you from achieving your goals?

That’s it for this morning. Thanks for reading!

Bye!

The Mighty Memo team

Tuesday 3 June 2025

*Please accept our apologies for the technical difficulties yesterday which meant that you did not receive the Mighty Memo briefing.*

The Mighty Headlines

Economics: OPEC+ increases oil production to lower prices

Business and markets: Monzo records over £1 billion in revenue

Foreign Affairs: US Senate pushes for “bone-crushing” Russia law

Security and intelligence: Ukraine hits 40 Russian bomber planes

Domestic politics: UK Government puts UK on “war-fighting readiness"

The Mighty Stats

FTSE = 8,774.26 (up 0.021%)

S&P 500 = 5,935.94 (up 0.41%)

Nasdaq = 19,242.61 (up 0.67%)

CAC40 = 7,737.20 (down 0.19%)

£1 = $1.35 / €1.18

*If you’ve been forwarded the Mighty Memo, subscribe for free at www.mightymemo.co.uk. You’ll receive the Mighty Memo directly in your inbox as soon as it’s published!*

The Mighty Detail

Economics: The OPEC+ group of oil producing nations has agreed to increase oil production in July by 411,000 barrels a day. It follows previous increases in May and June which is pushing the price of oil to its lowest level in four years. Lobbying by the US to lower oil prices and internal rivalries between countries in OPEC+ may be factors in the decision to increase production.

Business and markets: Monzo has reported revenue of £1.2 billion for the year ending March 2025. It is the first the online bank has reached over £1 billion in revenue. The number of customers also increased from 9.8 million to 12.2 million. Monzo is examining a possible £6 billion IPO in London.

Foreign Affairs: The US Senate is pushing for a bill which would impose “bone-crushing” tariffs of 500 per cent on countries buying Russian oil. The bipartisan bill has gathered 80 signatures in the 100-seat Senate and is designed to bring Russia to the negotiating table over Ukraine. It is also supported by the European Commission.

Security and intelligence: Ukraine has said that it used 117 drones on Sunday to hit at least 40 Russian bombers at four military bases. Ukrainian security services said that the attack struck “34 per cent of [Russia’s] strategic cruise missile carriers”. It is Ukraine’s biggest long-range attack of the war so far.

Domestic politics: The UK Government has said that the country must move to “war-fighting readiness” to counter Russian aggression in Europe. As part of its defence review, the UK Government said that the UK would build up to 12 attack submarines and six munitions factories and spend 3 per cent of GDP on defence by 2034.

The Mighty Calendar

What’s happening today?

• South Korea Presidential Election

• President Macron meets Prime Minister Meloni in Rome

• Eurozone CPI inflation data (May)

Lookahead to tomorrow

• UK and Germany convene meeting of Ukraine Defence Contact Group

• Prime Minister’s Questions in UK Parliament

• UK, Eurozone service growth data (May)

• Bank of Canada interest rate decision

The Mighty Finale

🌤️Weather today

Light rain for much of England. High of 18C and low of 9C in London. Light rain in Belfast and Edinburgh too.

✏️Life coaching quote of the day

“You get in life what you have the courage to ask for.” – Oprah Winfrey

Mighty takeaway: What are you afraid of stepping into? Try to take that first step.

That’s it for this Tuesday morning. Thanks for reading!

Adios!

The Mighty Memo team

Friday 30 May 2025

The Mighty Headlines

Economics: US courts block and then reinstate Trump tariffs

Business and markets: Salesforce shares fall by over 3 per cent

Foreign Affairs: Trump suggests US-Iran nuclear deal is near

Security and intelligence: UK invests £1 billion in new digital warfare

Domestic politics: UK to double pension megafunds

The Mighty Stats

FTSE = 8,716.45 (down 0.11%)

S&P 500 = 5,912.17 (up 0.4%)

Nasdaq = 19,175.87 (up 0.39%)

CAC40 = 7,779.72 (down 0.11%)

£1 = $1.35 / €1.19

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The Mighty Detail

Economics: A US federal appeals court has temporarily reinstated President Trump’s global reciprocal tariffs and his tariffs on Canada, China and Mexico. It comes after a lower court, the US International Court of Trade, ruled on Wednesday that Trump’s use of executive orders to impose the tariffs was unlawful.

Business and markets: Shares in Salesforce fell by over 3 per cent during trading yesterday. It comes as the software developer said that AI had reduced its hiring of computer engineers and customer service staff. The company also announced its intention to buy data management firm, Informatica, for $8 billion.

Foreign Affairs: President Trump has suggested that the US is close to reaching a deal with Iran on its nuclear programme. He said that he a wanted a deal that would allow US inspectors (not just UN inspectors) to “take whatever we want” and “blow up whatever we want, but nobody getting killed”. The suggestion is that Iran would continue to be able to enrich uranium – one of its key demands – but that it would be prevented from developing nuclear weapons.

Security and intelligence: The UK Government is to invest over £1 billion in a new digital warfare system to eliminate enemy targets on the battlefield. The UK will also establish a Cyber and Electromagnetic Command to protect military networks against cyberattacks. The announcements are part of the UK’s strategic defence review due to be published in full next week.  

Domestic politics: The UK Government has said that it plans to double the number of UK pension megafunds and require pension funds to invest in private markets. The policy will seek to provide more money and greater returns for pensioners by investing in UK infrastructure, homes and businesses. The £392 billion Local Government Pension Scheme, for instance, will be consolidated from 86 pools into 6 pools.

The Mighty Calendar

What’s happening today?

• President Macron delivers security speech in Singapore

• UK Parliament in recess

• Canada GDP data (Q1 2025)

• China manufacturing growth data (May)

• Germany, Italy, Spain CPI inflation data (May)

Lookahead to the weekend

Saturday

• UEFA Men’s Champions League Final, Munich, Germany

• The Major General’s Review, London (Trooping of the Colour rehearsal)

Sunday

• Polish Presidential Election runoff

• London to Brighton Classic Car Run

• F1 Spanish Grand Prix

• US Women’s Open (Golf)

The Mighty Finale

🌤️Weather today

Rain in Manchester but mostly dry elsewhere in England. High of 25C and low of 14C in London. Touch of rain in Belfast and Edinburgh.

✏️Life coaching quote of the day

“If you really want to do something, you'll find a way. If you don't, you'll find an excuse.” – Jim Rohn, motivational speaker

Mighty takeaway: What an interesting perspective. We’ll muse on this quote this weekend.

That’s it for this morning and for this week. See you next week.

Bye!

The Mighty Memo team

Thursday 29 May 2025

The Mighty Headlines

Economics: JD Vance indicates support for stablecoins

Business and markets: Shein to move IPO from London to Hong Kong

Foreign Affairs: Hamas leader reported dead

Security and intelligence: EU ready to sanction China over cyberattacks

Domestic politics: UK to reform planning rules for small builders

The Mighty Stats

FTSE = 8,726.01 (down 0.59%)

S&P 500 = 5,888.55 (down 0.56%)

Nasdaq = 19,100.94 (down 0.51%)

CAC40 = 7,788.10 (down 0.49%)

£1 = $1.35 / €1.19

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The Mighty Detail

Economics: The US Vice President, JD Vance, has said that stablecoins are not a threat to the US dollar. Stablecoins are cryptocurrency designed to have a value linked to another asset such as the US dollar. In a speech in Las Vegas, Vance also touted the benefits of the GENIUS Act currently going through the US Congress. This legislation could allow cryptocurrencies to become a mainstream form of digital payment.

Business and markets: Fast-fashion company Shein is expected to shift its IPO from London to Hong Kong. It comes after Chinese regulators have delayed giving Shein regulatory approval for a London listing. Shein had intended to list in London or New York to extend its reach beyond China and access a wider pool of Western investors.

Foreign Affairs: Benjamin Netanyahu has said that the Israeli military has killed Hamas leader, Mohammed Sinwar. Sinwar is the brother of the late Yahya Sinwar who was leader of Hamas until he was similarly killed in an Israeli strike last year. Netanyahu’s comments have not been independently verified.

Security and intelligence: The EU has said that it is prepared to impose sanctions on China following news of Chinese-linked cyberattacks on the Czech Republic. The Czech authorities have said that the APT31group - intelligence officers suspected of working for China - began attacking the Czech foreign ministry in 2022. APT31 has already been linked to thousands of attacks against military organisations, governments and private companies.

Domestic politics: The UK Government has said that it is to reduce planning regulations for small construction companies. Under new plans, planning permission for developments of up to 9 homes could be delegated to “expert trained planners” rather than local planning committees. The Government has pledged to deliver 1.5 million homes this Parliament.

The Mighty Calendar

What’s happening today?

• Norway, Switzerland public holiday (Ascension Day)

• 40th anniversary of Heysel Stadium disaster

• UK Attorney General delivers annual RUSI security lecture

• UK Parliament in recess

• US GDP data (Q1 2025)

• US initial jobless claims (weekly)

• Japan CPI inflation data (May)

• Company results from: Nationwide, Costco

Lookahead to tomorrow

• President Macron delivers security speech in Singapore

• UK Parliament in recess

• Canada GDP data (Q1 2025)

• China manufacturing growth data (May)

• Germany, Italy, Spain CPI inflation data (May)

The Mighty Finale

🌤️Weather today

A dash of rain in the north of England. Dry but cloudy in the south. High of 22C and low of 14C. Light rain in Belfast. Heavy rain and gusty winds in Edinburgh.  

✏️Life coaching quote of the day

“Know that you are the perfect age. Each year is special and precious, for you shall only live it once. Be comfortable with growing older.” – Louise Hay, writer

Mighty takeaway: Nothing further to add to this!

That’s it for this Thursday morning. See you tomorrow!

Adios!

The Mighty Memo team

Wednesday 28 May 2025

The Mighty Headlines

Economics: Germany overtakes Japan as world’s top creditor nation

Business and markets: KFC to invest nearly £1.5 billion in UK and Ireland

Foreign Affairs: King Charles emphasises Canadian self-determination

Security and intelligence: Syria and Israel in security talks

Domestic politics: IMF warns UK over budget deficit

The Mighty Stats

FTSE = 8,778.05 (up 0.69%)

S&P 500 = 5,921.54 (up 2.05%)

Nasdaq = 19,199.16 (up 2.47%)

CAC40 = 7,826.79 (down 0.017%)

£1 = $1.35 / €1.19

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The Mighty Detail

Economics: Japan has lost its position as the world's top creditor nation after 34 years. Germany is now at the top. Germany holds around $3.9 trillion of assets overseas (net) compared to $3.7 trillion for Japan.

Business and markets: KFC is set to invest nearly £1.5 billion in the UK and Ireland over the next five years. The fast-food chain already has 1000 restaurants in the region and plans to open 500 more. Shares in KFC’s parent company, Yum! Brands, fell by 0.45 per cent.

Foreign Affairs: King Charles opened the Canadian Parliament yesterday. In his speech, written by the Canadian Government, the King said that "self-determination and freedom" were values which Canadians held dear. This was likely to be a response to President Trump’s proposal to make Canada the 51st US state.

Security and intelligence: Syria and Israel are in direct security talks to calm tensions in the region and prevent an escalation of conflict. The talks mark a historic step for two countries which have historically been hostile to each other. The Syrian side is led by Ahmad al-Dalati, a senior security official and Governor of Quneitra province. Identities on the Israeli side are not publicly known.

Domestic politics: The IMF has warned the UK Government that it needs to stick to its deficit reduction plan to reduce the UK's debt and avoid turmoil in the bond markets. It comes as the IMF also raised its growth forecast for the UK to 1.2 per cent this year.

The Mighty Calendar

What’s happening today?

• UN Security Council discusses Palestine

• OPEC meeting of oil producing countries

• UK Parliament in recess

• France GDP data (Q1 2025)

• US manufacturing and services growth data (May)

• Company results from: Nvidia, HP, Kingfisher, Salesforce

Lookahead to tomorrow

• Norway, Switzerland public holiday (Ascension Day)

• 40th anniversary of Heysel Stadium disaster

• UK Attorney General delivers annual RUSI security lecture

• UK Parliament in recess

• US GDP data (Q1 2025)

• US initial jobless claims (weekly)

• Japan CPI inflation data (May)

• Company results from: Nationwide, Costco

The Mighty Finale

🌤️Weather today

Rain in the north of England. Mixture of sun and rain in the south. High of 20C and low of 13C in London. Sunny spells in Belfast and Edinburgh.

✏️Life coaching quote of the day

“Every morning we are born again. What we do today is what matters most.” – Buddha

Mighty takeaway: Start each day afresh. It is a new chance to live your life as you wish to lead it.

That’s it for this morning. See you tomorrow!

Cheerio!

The Mighty Memo team

Tuesday 27 May 2025

The Mighty Headlines

Economics: US pauses 50 per cent tariffs on EU

Business and markets: BYD shares fall by over 8 per cent as it cuts prices

Foreign Affairs: State of high alert in India over sunken ship

Security and intelligence: Germany lifts ban on long-range weapons to Ukraine

Politics: King Charles to open Canadian Parliament today

The Mighty Stats

FTSE = 8,717.97 (down 0.24%)

S&P 500 = 5,802.82 (down 0.67%)

Nasdaq = 18,737.21 (down 1%)

CAC40 = 7,828.13 (up 1.21%)

£1 = $1.35 / €1.19

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The Mighty Detail

Economics: President Trump has announced that he will delay imposing a 50 per cent tariff on EU imports until 9 July. Although the US had originally imposed tariffs on 20 per cent on the EU, these were reduced to 10 per cent for 90 days. President Trump then threatened to impose 50 per cent tariffs on the EU because of a lack of progress in trade negotiations.

Business and markets: Shares in BYD fell by over 8 per cent during trading yesterday. It comes after the Chinese electric car maker announced that it would cut prices on 22 models until the end of June. Investors are concerned about increasing competition in the sector and a potential price war.

Foreign Affairs: A state of high alert has been declared in India’s southern state of Kerala. It comes after a container ship sank around 43 miles of the coast. The ship was carrying hazardous chemicals as well as diesel and oil.

Security and intelligence: The German Chancellor, Friedrich Merz, has lifted the ban on Ukraine using long-range German weapons against Russia. Speaking yesterday, Merz said that “Nobody can now reproach us for not having exhausted all the diplomatic means available to us.”

Politics: King Charles will give a speech opening the Canadian Parliament today. Acting as King of Canada, King Charles will read a speech prepared by the Canadian Government. At a time when President Trump has spoken about Canada becoming the US’s 51st state, Canadian Prime Minister Mark Carney said that the King’s visit marked Canada’s “distinct identity”.

The Mighty Calendar

What’s happening today?

• King Charles opens the Canadian Parliament

• SpaceX Starship orbital test flight

• UK Parliament in recess

• France CPI inflation data

• Eurozone consumer confidence data (May)

Lookahead to tomorrow

• UN Security Council discusses Palestine

• OPEC meeting of oil producing countries

• UK Parliament in recess

• France GDP data (Q1 2025)

• US manufacturing and services growth data (May)

• Company results from: Nvidia, HP, Kingfisher, Salesforce

The Mighty Finale

🌤️Weather today

Heavy rain in the afternoon across most of England. High of 17C and low of 14C in London. Light rain in Belfast and Edinburgh.

✏️Life coaching quote of the day

“Vision is not enough, it must be combined with venture. It is not enough to stare up the steps, we must step up the stairs.” – Vaclav Havel, writer and former Czech President

Mighty takeaway: Take real steps in the direction of your goals. Don’t just dream about it.

That’s it for this Tuesday morning. Thanks for reading!

Bye!

The Mighty Memo team

Friday 23 May 2025

The Mighty Headlines

Economics: UK Government borrowing rises to £20.2 billion in April

Business: China’s BYD overtakes Tesla in European car sales

Markets: Bond markets unhappy with Trump’s tax cuts

Foreign Affairs: Georgia jails opposition leader

Security and intelligence: Germany’s first troop deployment since WWII

Domestic politics: UK signs over Chagos Islands to Mauritius

The Mighty Stats

FTSE = 8,739.26 (down 0.54%)

S&P 500 = 5,842.01 (down 0.044%)

Nasdaq = 18,925.73 (up 0.28%)

CAC40 = 7,864.44 (down 0.58%)

£1 = $1.34 / €1.19

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The Mighty Detail

Economics: UK Government borrowing increased to £20.2 billion in April. This is £1 billion more than in April last year and greater than the £17.9 billion that had been expected. Despite tax rises in April, the Office for National Statistics said that the increased cost of benefits, pensions and running public services outweighed the additional money the Government received.

Business: China’s BYD car company sold more electric vehicles in Europe than Tesla in April. BYD sold 7,231 battery electric vehicles last month compared to 7,165 for Tesla. Registrations of Chinese battery electric vehicles has increased by 59 per cent compared with a year earlier, despite EU tariffs on such cars.

Markets: US Government 30-year bond yields have risen to their highest level since 2023. Bonds yields rise as prices (and demand) for bonds fall. It comes as the US House of Representative passed a bill on Thursday to cut government spending and extend tax cuts. There are concerns the move could increase the US Government’s budget deficit.

Foreign Affairs: A court in Georgia has put one of the country’s opposition party leaders in jail. Zurab Japaridze is one of the leaders of the Coalition for Change party and has been put in pre-trial detention for failing to appear before a parliamentary inquiry. Japaridze has accused the ruling Georgian Dream party of turning Georgia “into a dictatorship”.

Security and intelligence: Germany has made its first permanent deployment of troops abroad since World War Two. The German armoured brigade is being stationed in Lithuania in a bid to increase NATO defences against Russia. The 45th tank brigade will consist of 4,800 soldiers and 200 civilian staff. It will reach full operational capacity by 2027.

Domestic politics: The UK has signed a deal to give the Chagos Islands in the Indian Ocean to Mauritius. It will lease back a military base – Diego Garcia – for an average of £101 million a year for 99 years. The deal has received criticism from native Chagossians who have said they have not been consulted on the deal. There are also concerns about Mauritius’s close relationship with China.

The Mighty Calendar

What’s happening today?

• US Vice President Vance delivers Naval Academy commencement address

• Sotheby’s auctions Shakespeare’s Four Folios

• UK Parliament in Recess

• UK retail sales data (April)

• US new homes data (April)

• France consumer confidence data (May)

Lookahead to the weekend

Saturday

•  President Trump delivers West Point Military Academy commencement address

• UEFA Women’s Champions League Final, Portugal

• Cannes Palme d’Or Award winner announced

Sunday

• Pope Leo XIV installed as Bishop of Rome

• Legislative elections in Venezuela

• F1 Monaco Grand Prix

• IndyCar: Indianapolis 500, Indiana, USA

• French Open (tennis) begins

The Mighty Finale

🌤️Weather today

Patchy cloud to the east, sunny towards the west of England. High of 19C and low of 11C in London. Rain in Belfast. Sunshine in Edinburgh.

✏️Life coaching quote of the day

“I have regrets, definitely. They are little life lessons – reminders that if there is a next time, be braver.” —Lauren Child, children’s author

Mighty takeaway: Try to learn from your mistakes and to be more confident in yourself.

That’s it for this week. Enjoy the bank holiday weekend to our UK readers and enjoy the Memorial Day weekend to our readers in the United States. We’ll see you on Tuesday.

Cheerio!

The Mighty Memo team

Thursday 22 May 2025

The Mighty Headlines

Economics: Inflation rises in the UK to 3.5 per cent

Business: M&S profits reach 15-year high

Markets: Apple shares fall following OpenAI threat

Foreign Affairs: Iran approves cooperation deal with Russia

Security and intelligence: Former Ukrainian aide assassinated in Madrid

Domestic politics: UK Government revisits winter fuel payments

The Mighty Stats

FTSE = 8,786.46 (up 0.061%)

S&P 500 = 5,844.61 (down 1.61%)

Nasdaq = 18,872.64 (down 1.41%)

CAC40 = 7,910.49 (down 0.4%)

£1 = $1.34 / €1.19

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The Mighty Detail

Economics: Inflation in the UK rose in April to 3.5 per cent. The Office for National Statistics said that higher energy bills and water bills were the most important factors in the increase. The Institute of Chartered Accountants added that tax rises – through higher national insurance contributions – have also led to higher prices.

Business: Mark & Spencer has said that its profits in the year to March 2025 reached a 15-year high. The high street retailer announced profits before tax of £875.5 million. Food sales increased by nearly 9 per cent to £9 billion. Fashion, home and beauty sales increased by 3.5 per cent to £4.2 billion. M&S also said that the recent cyberattack would cost the shop £300 million in lost profits.

Markets: Shares in Apple fell by over 2 per cent yesterday. It comes after OpenAI announced that it had bought former Apple designer Sir Jony Ive’s company for $6.5 billion. Sir Jony Ive oversaw the design of the iPhone, the iPad, the iMac, and the Apple Watch. It is thought that OpenAI could be seeking to create an AI device to replace smartphones.

Foreign Affairs: The Iranian Parliament has approved a 20-year strategic partnership with Russia. The deal was signed by President Putin and President Pezeshkian in January and approved by the Russian legislature in April. The deal aims to boost economic and military-technical cooperation between the two countries.

Security and intelligence: Andrii Portnov, an adviser to the former Ukrainian President, Viktor Yanukovych, was assassinated in Madrid yesterday. The Ukrainian Security Services investigated Portnov for alleged treason in 2018 and suspected that he may have been involved in Russia’s annexation of Crimea.

Domestic politics: The UK Government has said that it will revisit the eligibility for winter fuel payments. It comes after the Government restricted eligibility last winter. The policy – which supports pensioners with energy bills – has provoked fierce debate in the Labour Party.

The Mighty Calendar

What’s happening today?

• Matt Hancock and Patrick Vallance give evidence at UK Covid-19 Inquiry

• Michael Gove introduced to the House of Lords

• Culture Questions in UK Parliament

• UK Government borrowing data (April)

• UK, EU, US manufacturing and services growth data (May)

• Company results from: BT, easyJet, British Land

Lookahead to tomorrow

• US Vice President Vance delivers Naval Academy commencement address

• Sotheby’s auctions Shakespeare’s Four Folios

• UK Parliament in Recess

• UK retail sales data (April)

• US new homes data (April)

• France consumer confidence data (May)

The Mighty Finale

🌤️Weather today

Cloudy across most of England but sunny in Cornwall. Sunny spells in Belfast and Edinburgh. High of 15C and low of 7C in London.

✏️Life coaching quote of the day

“Make it a rule of life never to regret and never to look back. Regret is an appalling waste of energy; you can’t build on it; it’s only good for wallowing.” – Katherine Mansfield, writer

Mighty takeaway: Resist the temptation to think about what might have been. Live for today.

That’s it for this morning. Thanks for reading and we’ll see you tomorrow morning.

Bye!

The Mighty Memo team

Wednesday 21 May 2025

The Mighty Headlines

Economics: China cuts lending rates to record lows

Business: British ports ask for £120 million compensation over EU deal

Markets: World’s largest stock market listing this year in Hong Kong

Foreign Affairs: US warns Syria could collapse within weeks

Security and intelligence: President Trump selects “Golden Dome” design

Domestic politics: Poll puts Reform UK on top and Conservatives in fourth place

The Mighty Stats

FTSE = 8,781.12 (up 0.94%)

S&P 500 = 5,940.46 (down 0.39%)

Nasdaq = 19,142.72 (down 0.38%)

CAC40 = 7,942.42 (up 0.75%)

£1 = $1.34 / €1.19

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The Mighty Detail

Economics: China has cut its lending rates to record lows in a bid to stimulate the economy after the introduction of US tariffs. The People’s Bank of China cut the 1-year loan prime rate (used for household loans) to 3 per cent. The 5-year loan prime rate (used for mortgages) has fallen to 3.5 per cent.

Business: British ports are asking for £120 million in compensation after new border control posts have been rendered “obsolete” by the Government’s new deal with EU. The British Ports Association said new infrastructure had been built to “manage checks that never fully materialised”.

Markets: CATL was listed on the Hong Stock exchange yesterday and raised $4.6 billion. It is the world’s biggest stock market listing of the year so far. CATL (Contemporary Amperex Technology Limited) is one of China’s most important tech companies and the world’s biggest supplier of electric car batteries. It is blacklisted by the US Pentagon as a Chinese military company.

Foreign Affairs: The US Secretary of State, Marco Rubio, has warned that Syria could collapse and descend into civil war within weeks. Rubio blamed the resurgence of Islamic State and Iran for destabilising the government in Syria. Rubio added that concerns about the strength of the Syrian government were the reason behind the US lifting sanctions on Syria last week.

Security and intelligence: President Trump has selected the design for “Golden Dome” missile defence system. Space Force General Michael Guetlein has been chosen to oversee project. The “Golden Dome” would intercept hypersonic missiles, which travel faster than the speed of sound, as well as intercept missiles sent from space. The project is expected to cost around $175 billion.  

Domestic politics: A YouGov poll has placed support for the UK Conservative Party at its lowest level in at least 24 years. Reform UK topped the opinion poll on 29 per cent, with the ruling Labour Party on 22 per cent and the Liberal Democrat Party on 17 per cent. The Conservative Party, which was in Government between 2010 and 2024, received only 16 per cent.

The Mighty Calendar

What’s happening today?

• Kermit the Frog delivers University of Maryland commencement address

• President Trump hosts South Africa’s President, Washington D.C.

• Pope Leo XIV holds first general audience

• Prime Minister’s Questions in UK Parliament

• UK CPI inflation data (April)

• Company results from: Marks & Spencer, JD Sports, Currys, Target

Lookahead to tomorrow

• Matt Hancock and Patrick Vallance give evidence at UK Covid-19 Inquiry

• Michael Gove introduced to the House of Lords

• Culture Questions in UK Parliament

• UK Government borrowing data (April)

• UK, EU, US manufacturing and services growth data (May)

• Company results from: BT, easyJet, British Land

The Mighty Finale

🌤️Weather today

Thundery showers in the southeast of England. Mixture of rain and sunshine elsewhere. High of 18C and low of 7C in London. Bright sunshine in Belfast and Edinburgh.

✏️Life coaching quote of the day

“It is a funny thing about life; if you refuse to accept anything but the best, you very often get it.” —W. Somerset Maugham, writer

Mighty takeaway: Don’t settle for things as they are if they don’t make you happy.

That’s it for this morning. Thanks for reading!

Bye!

The Mighty Memo team

Tuesday 20 May 2025

The Mighty Headlines

Economics: Economic activity in China falls in April

Business: Greene King pub chain calls for help from UK Government

Markets: Value of dollar and US Treasuries fall after credit downgrade

Foreign Affairs: Results from European elections

Security and intelligence: US-Russia phone call on Ukraine

Domestic politics: UK and EU reach new deal

The Mighty Stats

FTSE = 8,699.31 (up 0.17%)

S&P 500 = 5,963.60 (up 0.088%)

Nasdaq = 19,215.46 (up 0.023%)

CAC40 = 7,883.63 (down 0.039%)

£1 = $1.34 / €1.19

*If you’ve been forwarded the Mighty Memo, subscribe for free at www.mightymemo.co.uk. You’ll receive the Mighty Memo directly in your inbox as soon as it’s published!*

The Mighty Detail

Economics: Economic activity in China slowed in April. This follows the introduction of US tariffs of up to 145 per cent on Chinese goods last month. Retail sales increased by 5.1 per cent between April 2024 and April 2025 – below expectations of 6 per cent. Inflation fell by 0.1 per cent – a signal of weak consumer demand – while industrial production fell from 7.7 per cent to 6.1 per cent.

Business: Greene King has called for urgent help from the UK Government after posting a pre-tax loss of £147.1 million in 2024. This is despite revenue at the pub group increasing from £2.37 billion to £2.45 billion. Greene King, which owns around 2,600 pubs, restaurants and hotels, is asking the Government to reform business rates and “reduce the cost of doing business”.

Markets: The value of the dollar fell yesterday, following Moody’s downgrade of the US’s credit rating on Friday. It comes after the dollar rose in value for four consecutive weeks on the prospect on US trade deals with countries around the world. A dollar is now worth £0.75 or €0.88. The value of US Government debt also fell, with yields on 30-year bonds increasing by their highest level since November 2023.

Foreign Affairs: Following three European elections at the weekend, the results are as follows:

1.    Poland (Presidential first round – Mayor of Warsaw, Rafał Trzaskowski, the centre-right candidate from the ruling coalition topped the polls.)

2.    Portugal (General election – Democratic Alliance, the ruling centre-right party of Portugal won 32 per cent of the vote. The Socialist Party came second on 23 per cent. The far-right Chega Party came third on 22.56 per cent.)

3.    Romania (Presidential final round – Mayor of Bucharest, Nicușor Dan, pro-West independent candidate won the election.)

Security and intelligence: Following a two-hour phone call between President Trump and President Putin yesterday afternoon, President Trump said that “cease-fire negotiations would start immediately”. President Putin only said, however, that Russia was ready to work with Ukraine “on a memorandum of a possible future peace agreement” and would engage on a “possible” ceasefire.

Domestic politics: The UK and EU announced a framework for a new deal yesterday. Although details will still be negotiated, the UK Government said that the deal would extend current fishing arrangements until 2038 and allow EU countries to let UK visitors use EU queues at border controls. There will also be fewer customs checks on food in return for the UK accepting EU rules on animals and food and the oversight of the European Court of Justice in that area. There will also be a mobility scheme for young people.

The Mighty Calendar

What’s happening today?

• G7 Finance Ministers and Central Bank Governors’ meeting, Canada

• Elon Musk addresses the Qatar Economic Forum virtually

• Chelsea Flower Show begins

• Treasury Questions in UK Parliament

• Joint session of UK and Ukraine Foreign Affairs Committees, UK Parliament

• Canada CPI inflation data (April)

• Japan trade data (April)

• Company results from: Vodafone, Home Depot, Greggs

Lookahead to tomorrow

• Kermit the Frog delivers University of Maryland commencement address

• President Trump hosts South Africa’s President, Washington D.C.

• Pope Leo XIV holds first general audience

• Prime Minister’s Questions in UK Parliament

• UK CPI inflation data (April)

• Company results from: Marks & Spencer, JD Sports, Currys, Target

The Mighty Finale

🌤️Weather today

Bright and sunny across most of England but a touch of cloud in Manchester. High of 23C and low of 13C in London. Rain in Belfast. Sunny in Edinburgh.

✏️Life coaching quote of the day

“There are two ways to live a longer life:

1) Biologically. Extend the timeline between your birth and your death.

2) Psychologically. Fit more lives into whatever time you are given.

Make each decade rich with experiences and perhaps you can live a handful of lives before you are done.” –  James Clear, writer

Mighty takeaway: Nothing further to add to this one!

That’s it for this morning. Thanks for reading and we hope you have a good Tuesday.

Cheerio!

The Mighty Memo team

Monday 19 May 2025

The Mighty Headlines

Economics: Moody’s downgrades US’s credit rating

Business: UK Government likely to sell last NatWest shares by June

Markets: Novo Nordisk CEO stepping down after share price plunges

Foreign Affairs: US’s plan for Gaza resettlement in Libya

Security and intelligence: US and Iran at odds over uranium enrichment

Domestic politics: UK and EU set to announce new deal today

The Mighty Stats

FTSE = 8,684.56 (up 0.59%)

S&P 500 = 5,958.38 (up 0.7%)

Nasdaq = 19,211.10 (up 0.52%)

CAC40 = 7,886.69 (up 0.42%)

£1 = $1.33 / €1.19

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The Mighty Detail

Economics: Moody’s has downgraded the US’s credit rating by one level. The US’s creditworthiness has fallen from Aaa (the highest rating) to Aa1 (the second highest rating). Moody’s said that the US’s rising budget deficit – caused by increasing spending without an increase in revenue – was a major reason behind the decision.

Business: The UK Government could be set to sell its remaining shares in NatWest next month. The UK Government had given the bank a £46 billion bailout after the Great Financial Crisis, buying an 80 per cent stake in the company.

Markets: The CEO of Novo Nordisk, Lars Fruergaard Jørgensen, is to step down from his role after a steep fall in the company’s share price. The pharmaceutical giant’s shares have fallen by 52 per cent since mid-2024. Novo Nordisk makes the weight-loss drug Ozempic and is facing steep competition in the weight-loss drug market.

Foreign Affairs: It is being reported that the US administration is working on plans to resettle up to 1 million Palestinians from Gaza to Libya. The US would allegedly release billions of frozen Libyan funds as part of the deal. The US embassy in Tripoli, however, has denied that any such plans exist and called the reports “untrue”.

Security and intelligence: US special envoy, Steve Witkoff, has said that a nuclear deal with Iran cannot allow Iran to have “even 1 per cent of enrichment capability.” The US fears that Iran would use enriched uranium to build weapons. In response, the Iranian government rebuffed the comments and said that “enrichment in Iran is not something that can be stopped”.

Domestic politics: The UK and EU are set to announce a new deal today. The UK Government said yesterday that a deal could benefit UK goods producers, enhance safety and security, and reduce queues at the UK-EU border.

The Mighty Calendar

What’s happening today?

• Canada public holiday (Victoria Day)

• Phone call between President Trump and President Putin expected

• UK Prime Minister hosts UK-EU summit in London

• 78th World Health Assembly in Switzerland begins

• Defence Questions in UK Parliament

• Eurozone CPI inflation data (April)

• Company results from: Ryanair

Lookahead to tomorrow

• G7 Finance Ministers and Central Bank Governors’ meeting, Canada

• Elon Musk addresses the Qatar Economic Forum virtually

• Chelsea Flower Show begins

• Treasury Questions in UK Parliament

• Joint session of UK and Ukraine Foreign Affairs Committees, UK Parliament

• Canada CPI inflation data (April)

• Japan trade data (April)

• Company results from: Vodafone, Home Depot, Greggs

The Mighty Finale

🌤️Weather today

A touch of cloud in most of the UK but sunny in southeast England. High of 21C and low of 9C in London.

✏️Life coaching quote of the day

“If the path be beautiful, let us not ask where it leads.” – Anatole France, writer

Mighty takeaway: Follow what you find beautiful and what makes you happy – there is no need to justify or explain.

That’s it for this Monday morning. Thanks for reading and we’ll see you again tomorrow.

Bye!

The Mighty Memo team

Friday 16 May 2025

The Mighty Headlines

Economics: Oil prices fall as Trump hints at Iran deal

Business: Holland & Barrett records third year of losses

Markets: NatWest shares rise by 24 per cent in 2025

Foreign Affairs: Spanish Government releases info about power cut

Security and intelligence: FBI warns of AI impersonating senior personnel

Domestic politics: UK in talks for migrant “return hubs”

The Mighty Stats

FTSE = 8,633.75 (up 0.57%)

S&P 500 = 5,916.93 (up 0.41%)

Nasdaq = 19,112.32 (down 0.18%)

CAC40 = 7,853.47 (up 0.21%)

£1 = $1.33 / €1.19

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The Mighty Detail

Economics: The price of oil fell yesterday after President Trump announced that the US was close to securing a nuclear deal with Iran. Brent crude futures fell by 2.36 per cent to $64.53 per barrel. A nuclear deal could mean that sanctions on Iran and its oil exports are lifted, which would increase oil supply.

Business: Holland & Barrett is reporting a third consecutive year of losses. The health food shop recorded a pre-tax loss of £61.8 million in the 12 months to September 2024. This is despite sales increasing to £884.5 million. The company said that it had spent £96.3 million on capital investment and that it had opened 36 new shops and refurbished over 320 shops. It last announced a pre-tax profit in 2021.

Markets: Shares in NatWest have increased by nearly 24 per cent since the start of 2025 and by over 50 per cent in the last year. NatWest shares have now reached a 10-year high and are worth 498.8 pence. Before the Great Financial Crisis, NatWest shares had reached a high of 5236.28 pence. The bank recorded £1.8 billion in pre-tax profit in Q1.

Foreign Affairs: The Spanish Government has said that a power substation in Granada has been identified as the root of the power failure which affected large parts of the country in late April. The Spanish Government has not yet announced the cause of the issue in Granada but suggested that it was still investigating the issue.

Security and intelligence: The FBI warned yesterday that AI voice and text messages were impersonating senior US officials. The FBI added that “if you receive a message claiming to be from a senior US official, do not assume it is authentic.” Many of the targets are current or former US federal and state government officials and their contacts.

Domestic politics: During a visit to Albania yesterday, the UK Prime Minister said that the UK Government was in talks with other countries to set up “return hubs” for migrants. The UK Government would send migrants who have no right to stay in the UK to those return hubs. Albania, which has already agreed a similar deal with Italy, said it would not agree such a deal with the UK.

The Mighty Calendar

What’s happening today?

• Debate of Assisted Dying Bill in UK House of Commons

• European Political Community Summit, Albania

• Lennart Meri Security Conference, Estonia

• France unemployment rate (Q1 2025)

• US housing starts (April)

• London Gatwick Airport strike

• Company results from: Swiss Re

Lookahead to the weekend

Saturday

• Arab League summit, Iraq

• English Men’s FA cup final

• Eurovision grand final

Sunday

• Inauguration mass of Pope Leo XIV

• Elections in Poland, Portugal and Romania

• English Women’s FA cup final

• US PGA Championship final

The Mighty Finale

🌤️Weather today

Sunny and dry in all nations of the UK. Again! High of 21C and low of 10C in London.

✏️Life coaching quote of the day

“The gem cannot be polished without friction, nor man perfected without trials.” – Confucius, ancient Chinese philosopher

Mighty takeaway: You learn from the ups and downs of life. Be strengthened when things go wrong, not weakened.

That’s it for this week. We hope you enjoy the weekend and we’ll see you on Monday!

Bye for now!

The Mighty Memo team

Thursday 15 May 2025

The Mighty Headlines

Economics: China issues warning to UK over US trade deal

Business: Boeing receives $96 billion order from Qatar Airways

Markets: Burberry shares increase by 17 per cent

Foreign Affairs: EU issues news sanctions against Russia

Security and intelligence: US sanctions Iran over ballistic missiles

Domestic politics: New UK-EU deal derailed by fish and youth mobility scheme

The Mighty Stats

FTSE = 8,585.01 (down 0.21%)

S&P 500 = 5,892.58 (up 0.1%)

Nasdaq = 19,146.81 (up 0.72%)

CAC40 = 7,836.79 (down 0.47%)

£1 = $1.33 / €1.19

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The Mighty Detail

Economics: China has issued a warning to the UK over its trade deal with the United States. In return for tariff relief, the US trade deal requires the UK to comply with US security requirements. These could be detrimental to Chinese companies. On Tuesday, the US Government said that companies using AI chips from Huawei (a Chinese company) without a license would be violating US export rules.

Business: Boeing has received an order from Qatar Airways worth $96 billion for up to 210 aircraft. President Trump called the deal “the largest in Boeing’s history” and the White House said that it would support 154,000 jobs in the US. The deal was announced during President Trump’s visit to Qatar yesterday. Boeing has not made a profit since 2018.

Markets: Shares in the fashion company Burberry increased by 17 per cent yesterday. It follows news that the company could be cutting around 1,700 jobs and cutting real estate costs. After cost cutting measures previously announced in November, these changes could save the company £100 million.

Foreign Affairs: The EU has agreed a new set of sanctions against Russia, with the threat of more to come if Russia continues to refuse a 30-day ceasefire. It comes as Ukrainian and Russian negotiators are expected to meet for peace talks in Istanbul today. President Zelensky has previously said he would be ready to meet President Putin in Turkey but President Putin has now refused.

Security and intelligence: The US has issued sanctions against Iran in response to what it said were the Iranian Government’s attempts to develop components for ballistic missiles. This week, President Trump called Iran the “most destructive force” in the Middle East. In response, the Iranian President said Iran would not “bow to any bully”.

Domestic politics: There are reports that negotiations on a new defence and security pact between the UK and EU have stalled. It comes after some EU countries have sought to tie the deal to other issues such access to fishing rights in UK waters. Plans for a youth mobility scheme have also blocked progress.

The Mighty Calendar

What’s happening today?

• EU Trade Ministers meet in Belgium

• US Supreme Court hears birthright citizenship case

• Transport Questions in UK Parliament

• US PGA Championship begins

• UK, Japan, EU GDP data (Q1 2025)

• UK, EU industrial production data (March)

• US industrial production data (April)

• EU employment data (Q1 2025)

• US jobless claims (weekly)

• US retail sales (April)

• Company results from: Walmart, Alibaba, National Grid, ThyssenKrupp, RWE, Siemens

Lookahead to tomorrow

• Debate of Assisted Dying Bill in UK House of Commons

• European Political Community Summit, Albania

• Lennart Meri Security Conference, Estonia

• France unemployment rate (Q1 2025)

• US housing starts (April)

• London Gatwick Airport strike

• Company results from: Swiss Re

The Mighty Finale

🌤️Weather today

A mixture of sunshine and cloud in the southeast and northeast of England. Bright sunshine in the southwest and northwest of England. Sunshine in Belfast and Edinburgh too. High of 20C and low of 7C in London.

✏️Life coaching quote of the day

“Some people want everything to be perfect before they're willing to commit... But commitment always precedes achievement.” – John C. Maxwell, writer and leadership trainer

Mighty takeaway: You have to commit before you get the results.

That’s it for this Thursday morning. See you tomorrow.

Bye!

The Mighty Memo team