Monday 4 August 2025

The Mighty Headlines

Economics: OPEC+ increases oil production

Business and markets: Berkshire Hathaway records decrease in earnings

Foreign Affairs: Poland extends border controls

Security and intelligence: FBI opens first office in New Zealand

Domestic politics: UK Government’s illegal migrant measures

The Mighty Stats

FTSE = 9,068.58 (down 0.7 per cent)

S&P 500 = 6,238.01 (down 1.6 per cent)

Nasdaq = 20,650.13 (down 2.24 per cent)

CAC40 = 7,546.16 (down 2.91 per cent)

£1 = $1.33 / €1.15

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The Mighty Detail

Economics: OPEC+ has agreed to increase oil production by 547,000 barrels per day from September. It follows concerns of supply disruptions from Russia, with the US putting pressure on countries to stop buying Russian fuel.

Business and markets: Earnings at Berkshire Hathaway fell to $12.37 billion in Q2 2025. This is down from the $30.25 billion announced at the same time last year. It comes amid a multi-billion reduction in the value of Berkshire’s stake in Kraft Heinz, for which Buffett admits he overpaid in 2015.

Foreign Affairs: Poland is extending its border controls with Germany and Lithuania. Checks were first introduced on 7 July to control migration and were due to end tomorrow. They will now end on 4 October. Germany also introduced controls at its borders with Poland last year in response to illegal migration.

Security and intelligence: The FBI has opened its first standalone office in New Zealand. This copies similar arrangements in the UK, Australia and Canada – a group of countries which, with the US and New Zealand, make up the Five Eyes intelligence network.

Domestic politics: The UK Government has said that advertising services on social media to cross the English Channel illegally could carry a five-year sentence. Around 25,000 people have reached the UK by small boats this year – a 50 per cent increase on the same period last year.

The Mighty Calendar

What’s happening today?

• Duchess of Sussex 44th birthday

• Final day of England versus India fifth test match

• Company results from: Biontech, Palantir

Lookahead to tomorrow

• Bangladesh public holiday (Student Uprising Day)

• UN committee discusses Global Plastics Treaty

• Scottish exam results published

• Company results from: BP, Saudi Aramco, News Corp, Fox Corporation, Pfizer, Diageo

The Mighty Finale

🌤️Weather today

Storm Floris hits the UK. Rain in the south. Gusty winds and rain in the north. High of 23C and low of 12C in London. Yellow weather warning issued for Northern Ireland and amber weather warning for Scotland.

✏️Life coaching quote of the day

“People who are not happy with themselves cannot possibly be happy with you.” – anonymous

Mighty takeaway: Don’t blame yourself for other people’s negative behaviour towards you.

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

Bye!

The Mighty Memo team

Friday 1 August 2025

The Mighty Headlines

Economics: US extends trade talks with Mexico for another 90 days

Business and markets: Microsoft reaches $4 trillion valuation

Foreign Affairs: Australia cuts student debt for 3 million people

Security and intelligence: Russia issues veiled nuclear threat against US

Domestic politics: UK issues statement on Iran’s threat to national security

The Mighty Stats

FTSE = 9,132.81 (down 0.045%)

S&P 500 = 6,339.39 (down 0.37%)

Nasdaq = 21,122.45 (down 0.034%)

CAC40 = 7,771.97 (down 1.14%)

£1 = $1.32 / €1.16

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The Mighty Detail

Economics: President Trump has agreed to continue trade talks with Mexico for a further 90 days. It comes as the two countries failed to reach an agreement by the deadline today. It means that Mexican exports to the US will continue to be taxed at 25 per cent instead of 30 per cent. Mexico is the US’s top source of imports.

Business and markets: Microsoft has become only the second company after Nvidia to reach a $4 trillion valuation. Microsoft reached the milestone yesterday after it reported sales of $76.4 billion in Q2 and profits of $27.2 billion. In the year to June, the company recorded profits of over $101 billion.

Foreign Affairs: Australia has passed a law cutting $10 billion worth of student debt for 3 million people. It follows an election promise made by the ruling Labor Party to support young people with the cost of living. Millennial and Generation Z voters outnumbered Baby Boomers in May’s General Election, making up 43 per cent of enrolled voters.

Security and intelligence: The former Russian President, Dmitry Medvedev, has issued a veiled nuclear threat against the United States. It comes after the US said that a ceasefire in Ukraine should be agreed by 8 August and after President Trump said that Russia’s actions in Ukraine were “disgusting”. Medvedev, who is currently the deputy chair of Russia’s Security Council, said that President Trump should remember Russia’s “Dead Hand”, a reference to a secretive Soviet nuclear missile system.

Domestic politics: The UK and its NATO allies issued a joint statement yesterday on the increasing Iranian threat to national security. The statement set out the group’s opposition “to the attempts of Iranian intelligence services to kill, kidnap, and harass people in Europe and North America in clear violation of our sovereignty.”

The Mighty Calendar

What’s happening today?

• US ‘Liberation Day’ tariffs due to take effect

• Edinburgh Fringe opens

• Eurozone inflation data

• US unemployment data

• Company results from: ExxonMobil, Chevron, International Airlines Group, Daimler, Nintendo

Lookahead to the weekend

Saturday

• UK Athletics Championships

• Glorious Good Festival (horse racing) final day

Sunday

• Pope Leo presides over the closing mass for Jubilee of Youth

• OPEC member countries meeting

• Women’s Tour de France finishes

• F1 Hungarian Grand Prix

The Mighty Finale

🌤️Weather today

Light rain possible in the southeast and northwest of England. Dry elsewhere. High of 21C and low of 12C in London. Light cloud in Belfast and Edinburgh.

✏️Life coaching quote of the day

“What we learn through failure becomes a precious part of us, strengthening us in everything we do. So let the tough things make you tougher.” – Soichiro Honda, founder of Honda

Mighty takeaway: Failure is a gift that will help you improve in your life, work and studies.

That’s it for this morning. Thanks for reading and we hope that you enjoy the weekend!

Bye!

The Mighty Memo team

Wednesday 30 July 2025

The Mighty Headlines

Economics: US Federal Reserve to make interest rate decision today

Business and markets: Kingsmill and Hovis set to merge

Foreign Affairs: UK to recognise Palestine unless Israel meets conditions

Security and intelligence: US blocks arrival of Taiwan’s President

Domestic politics: Tensions between UK Treasury and Bank of England

The Mighty Stats

FTSE = 9,136.32 (up 0.6%)

S&P 500 = 6,370.86 (down 0.3%)

Nasdaq = 21,098.29 (down 0.38%)

CAC40 = 7,857.36 (up 0.72%)

£1 = $1.33 / €1.16

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The Mighty Detail

Economics: The US Federal Reserve will announce its interest rate decision today. Despite pressure from President Trump, the interest rate (expressed as a range in the US) is expected to stay the same at 4.25 per cent to 4.5 per cent.

Business and markets: UK bread maker Kingsmill is expected to buy rival Hovis in a £75 million deal this week. The merger could save £50 million in costs, as the bread makers struggle to compete against new artisanal bread makers, inflation and low-carb diets.

Foreign Affairs: The UK Prime Minister said that the UK will recognise a Palestinian state at the UN General Assembly in September unless Israel ensures aid reaches Gaza and agrees a ceasefire. The US and Israel withdrew from the most recent round of ceasefire talks with Hamas last Thursday, with the US claiming that “Hamas does not appear to be coordinated or acting in good faith”.

Security and intelligence: The Trump administration has blocked the arrival of Taiwan’s President in New York City next week. There are concerns that allowing Taiwan’s President to stopover on his way to South America could derail ongoing US trade talks with China.

Domestic politics: There are reports of tensions between the UK Chancellor, Rachel Reeves, and the Governor of the Bank of England, Andrew Bailey. Bailey is said to have blocked a meeting with the Treasury about giving a banking licence to Revolut, the finance app. He is allegedly concerned that the Government is interfering with regulatory matters.

The Mighty Calendar

What’s happening today?

• US Federal Reserve and Bank of Canada interest rate decisions

• US, Eurozone GDP data (Q2 2025)

• Company results from: Microsoft, Meta, Ford, Mercedes-Benz, Nissan, Aston Martin, QUALCOMM, Panasonic, Airbus, BAE Systems, BASF, HSBC, UBS, Aberdeen, Santander, Taylor Wimpey, Just Eat Takeaway.com, Adidas

Lookahead to tomorrow

• Bank of Japan interest rate decision

• Eurozone unemployment rata data (June)

• China manufacturing growth data (July)

• Company results from: Apple, Amazon, Shell, Samsung, BMW, Standard Chartered, Société Generale, Credit Agricole, Coinbase, Drax, Reddit, British American Tobacco, Next, Unilever

The Mighty Finale

🌤️Weather today

Light cloud across England. Small chance of rain in the northeast. High of 24C and low of 16C in London. Light rain in Belfast. Light cloud in Edinburgh.

✏️Life coaching quote of the day

“People who are unable to motivate themselves must be content with mediocrity, no matter how impressive their other talents.” – Andrew Carnegie, steel magnate and philanthropist

Mighty takeaway: No-one will achieve your goals for you, whether in business or in life. The action you take is down to you.

That’s it for this Wednesday morning. Thanks for reading as ever.

Cheerio!

The Mighty Memo team

Monday 28 July 2025

The Mighty Headlines

Economics: US and EU agree trade deal

Business and markets: Facebook hires ChatGPT’s co-creator

Foreign Affairs: Bid to oust pro-China lawmakers in Taiwan fails

Security and intelligence: Trump organises Thailand-Cambodia ceasefire

Domestic politics: Starmer meets Trump in Scotland today

The Mighty Stats

FTSE = 9,120.31 (down 0.2%)

S&P 500 = 6,388.64 (up 0.4%)

Nasdaq = 21,108.32 (up 0.24%)

CAC40 = 7,834.58 (up 0.21%)

£1 = $1.34 / €1.14

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The Mighty Detail

Economics: The US and the EU have agreed a trade deal which will see a 15 per cent tariffs on EU goods entering the US. This will be a reduction from the 30 per cent tariffs the EU faces at the moment. A 50 per cent tariff on steel and aluminium, which the US has applied globally, will remain.

Business and markets: Facebook has hired Shengjia Zhao, the co-creator of OpenAI’s ChatGPT, to serve as its chief scientist at Meta Superintelligence Labs. Facebook is trying to advance its AI research and recently made a $14 billion investment in AI development company, Scale AI.

Foreign Affairs: A move in Taiwan to unseat lawmakers from the China-friendly KMT party has failed. The recall motions, which were held yesterday, were backed by the ruling pro-Taiwan Democratic Progressive Party (DPP). The DPP won the presidency last year but does not have a majority in Parliament.

Security and intelligence: Thailand and Cambodia have agreed to meet to negotiate a ceasefire, following days of fighting last week which killed 32 people and displaced over 200,000. It comes after President Trump spoke to leaders of both countries and said he would not agree a trade deal with them if they continued fighting.

Domestic politics: The UK Prime Minister is meeting President Trump in Scotland today. The Prime Minister’s office said that the pair would discuss the UK-US trade deal, the situation in Gaza and the war in Ukraine.

The Mighty Calendar

What’s happening today?

• Sir Keir Starmer expected to meet President Trump in Scotland

• UN Conference on Palestine

• US and China hold trade talks in Sweden

• Company results from: Audi, Heineken

Lookahead to tomorrow

• President Trumps ends Scottish holiday

• IMF publishes update to its World Economic Outlook

• Company results from: Barclays, Boeing, Spotify, AstraZeneca, Stellantis, Starbucks

The Mighty Finale

🌤️Weather today

Sunny spells across the UK. High of 24C and low of 13C in London.

✏️Life coaching quote of the day

“Remember not only to say the right thing in the right place, but far more difficult still, to leave unsaid the wrong thing at the tempting moment.” – Benjamin Franklin, statesman and writer

Mighty takeaway: Nothing further to add to this!

That’s it for this Monday morning. We hope you enjoy the start to your week.

Adios!

The Mighty Memo team

Friday 25 July 2025

The Mighty Headlines

Economics: UK private sector slows and jobs cuts accelerate

Business and markets: “Meme stocks” return with Krispy Kreme

Foreign Affairs: $1 billion of AI chips smuggled into China

Security and intelligence: Thailand and Cambodia clashes

Domestic politics: Jeremy Corbyn launches new party

The Mighty Stats

FTSE = 9,138.37 (up 0.85%)

S&P 500 = 6,363.35 (up 0.07%)

Nasdaq = 21,057.96 (up 0.18%)

CAC40 = 7,818.28 (down 0.41%)

£1 = $1.35 / €1.15

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The Mighty Detail

Economics: Growth in the UK’s private sector slowed last month. A report from S&P Global gave a PMI reading of 51 in June versus 52 in May. Any number above 50 indicates growth. Jobs are also being cut in the UK at their highest rate since February. Suggested factors include the UK Government’s tax increases, minimum wage rises and higher global tariffs.

Business and markets: “Meme stocks” have returned, with shares in Krispy Kreme doughnuts increasing in value by over 30 per cent this week. The “meme stock” trend started in the pandemic when ordinary investors piled into buying shares of struggling companies to embarrass professional traders who sought to benefit from their demise.

Foreign Affairs: Advanced AI chips from Nvidia worth at least $1 billion have been smuggled to China since May. The US currently has export controls on the chips to China but they may have come from Southeast Asia. The US Commerce Department is considering adding export controls on advanced AI products to other Asian countries, such as Thailand, in September.

Security and intelligence: Thailand has closed its border with Cambodia following military clashes. Cambodia has fired artillery shells into Thailand and Thailand has reported at least 12 people dead. Thailand has sent an F-16 fighter jet into Cambodia to strike a military target. Both sides say the other started the conflict yesterday morning.

Domestic politics: Jeremy Corbyn has launched a new political party. The former Labour Party leader and now independent MP said it would “take on the rich and powerful” and be an alternative to the “control freaks of Labour”. The party as yet has no name.

The Mighty Calendar

What’s happening today?

• President Trump begins 5-day visit to Scotland

• UK Online Safety Act comes into force

• King George Weekend at Ascot

• UK retail sales data (June)

Lookahead to tomorrow

Saturday

• National Ballet of Japan makes UK debut (24 to 27 July)

• Australian Outback Marathon, Uluru, Australia

• Wing Fest, London Stadium (world’s largest chicken wing festival)

Sunday

• Women’s Euros Final – England vs Spain

• Final stage of the Tour de France

• Belgium Grand Prix

The Mighty Finale

🌤️Weather today

Sunny spells and dry in England. High of 26C and low of 16C in London. Touch of rain in Belfast in the morning. Dry in Scotland.

✏️Life coaching quote of the day

“Happiness is anyone and anything that's loved by you.” – Charlie Brown (from the Peanuts comic strip)

Mighty takeaway: It’s pretty simple really, isn’t it?

That’s it for this morning and this week. We hope you have a happy weekend!

Bye!

The Mighty Memo team

Wednesday 23 July 2025

The Mighty Headlines

Economics: Pound and gilts wobble as UK Government borrowing rises

Business and markets: General Motors loses $1.1 billion due to tariffs

Foreign Affairs: Anti-corruption agencies in Ukraine targeted

Security and intelligence: UK man convicted of spying for Russia

Domestic politics: India’s Modi set to visit UK to sign trade deal tomorrow

The Mighty Stats

FTSE = 9,023.81 (up 0.12%)

S&P 500 = 6,309.62 (up 0.064%)

Nasdaq = 20,892.69 (up 0.39%)

CAC40 = 7,744.41 (down 0.69%)

£1 = $1.35 / €1.15

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The Mighty Detail

Economics: The pound fell in early trading against the dollar yesterday and bond yields rose after UK Government borrowing reached £20.7 billion in June. This is higher than the £17.1 billion that had been expected and has led to the highest budget deficit since 2021. The pound and bonds recovered by the end of the day.

Business and market:  General Motors has said that its operating income fell by $1.1 billion in Q2 because of the impact of US tariffs. Its total revenue fell to $47 billion but its US sales increased by 7 per cent. GM is the US’s largest automobile maker by market share.

Foreign Affairs: The EU has expressed concern over a new Ukrainian law which will end the independence of two public anti-corruption agencies. The agencies will now be overseen by Ukraine’s prosecutor general – a political appointee of the President. There were protests in Kyiv yesterday following the news, which also come after allegations of corruption in President Zelensky’s government.

Security and intelligence: A British man has been found of attempting to spy for Russia. Howard Phillips, 65 years old, was caught trying to help two agents gather information about the then Defence Secretary Sir Grant Shapps in 2023. The agents were actually undercover British intelligence officers.

Domestic politics: The President of India, Narendra Modi, is set to visit the UK tomorrow to sign a trade deal. A provisional deal was agreed in May but the details had not yet been finalised. The UK Government says that the deal will add “£4.8 billion to the UK economy”.

The Mighty Calendar

What’s happening today?

• President Macron and Chancellor Merz meet in Berlin

• UK Parliament on summer recess until September

• Japan manufacturing and services growth data (July)

• Company results from: Google, Tesla, IBM, Heathrow, JD Wetherspoon

Lookahead to tomorrow

• EU-China summit in Beijing

• UK, Eurozone manufacturing and services growth data (July)

• European Central Bank interest rate decision

• Company results from: Centrica, EDF, TotalEnergies, LVMH, Vodafone, BT, Lloyds, ITV, Fujitsu

The Mighty Finale

🌤️Weather today

A small chance of light rain across the UK later in the day. High of 24C and low of 15C in London.

✏️Life coaching quote of the day

“A simple rule for life that rarely fails: Optimize for enthusiasm. Make as many choices as you can that leave you feeling energetic and interested. Pay attention to when you have the urge to pursue or participate in something and do more of it.” – James Clear, writer

Mighty takeaway: Nothing further to add!

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

Cheerio!

The Mighty Memo team

Monday 21 July 2025

The Mighty Headlines

Economics: Moody’s upgrades Argentina’s credit rating

Business and markets: Netflix profits rise but share price falls

Foreign Affairs: Hong Kong issues highest typhoon alert

Security and intelligence: Ukraine offers Russia further peace talks

Domestic politics: UK further limits Russia’s oil revenues

The Mighty Stats

FTSE = 8,992.12 (up 0.22%)

S&P 500 = 6,296.79 (down 0.009%)

Nasdaq = 20,895.66 (up 0.048%)

CAC40 = 7,822.67 (up 0.0086%)

£1 = $1.34 / €1.15

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The Mighty Detail

Economics: Moody’s has upgraded Argentina’s credit rating, citing the easing of currency controls and interventions from the International Monetary Fund. Argentina’s rating has risen from Caa1 to Caa3, which is now the same level as Egypt and Suriname, but is still considered to have “junk” status. President Milei, who came to power 18 months ago, is trying to reform Argentina’s economy.

Business and markets: Netflix has announced a nearly 50 per cent increase in profits to $3.1 billion – a 46 per cent increase compared to last year. Shares still fell, however, with investors concerned that revenue this year – predicted to be around $45 billion – will be driven more by the weakness of the dollar than demand for Netflix content.

Foreign Affairs: Hong Kong was placed on its highest typhoon alert on Sunday as Typhoon Wipha swept past the city. A T10 hurricane alert was issued and a maximum wind speed of 140 km per hour was recorded. Wipha passed over the Philippines and hit Taiwan on Saturday and is expected to reach Vietnam this week.

Security and intelligence: President Zelensky said on Saturday that Ukraine has offered to hold a further round of peace talks with Russia this week. The two countries have held two rounds of talks in Istanbul in the last five months. It comes after a week of heavy Russian bombardment with over 300 Russian drone attacks last Friday.

Domestic politics: The UK, as well as the EU, have lowered the Crude Oil Price Cap to further limit the money Russia receives from oil. The cap will be lowered from $60 per barrel to $47.60 per barrel. The cap prohibits companies in the G7 from shipping, insuring or servicing Russian oil sold above the price cap.

The Mighty Calendar

What’s happening today?

• Japan public holiday (Marine Day)

• UK Prime Minister questioned by Liaison Committee

• BMA doctors’ union holds ballot for senior doctors

• Company results from: Ryanair, Verizon

Lookahead to tomorrow

• King Charles and Queen Camilla visit Newmarket

• England versus Italy in Women’s Euros semifinal

• UK Government borrowing data (June)

• Company results from: General Motors, Unicredit, Coca-Cola

The Mighty Finale

🌤️Weather today

Thundery showers in the south of England. Patchy rain elsewhere. High of 21C and low of 14C in London. Light rain in Belfast. Heavy rain in Edinburgh.

✏️Life coaching quote of the day

“Sometimes the biggest problem is in your head. You've got to believe you can play a shot instead of wondering where your next bad shot is coming from.” – Jack Nicklaus, champion golfer

Mighty takeaway: Think of the results you want in your life. Don’t think of the obstacles.

That’s it for this Monday morning. Thanks for reading and enjoy today!

Bye!

The Mighty Memo team

Friday 18 July 2025

The Mighty Headlines

Economics: UK unemployment and inflation rates rise

Business and markets: PepsiCola shares rise by nearly 8 per cent

Foreign Affairs: Ukraine appoints first new PM since invasion

Security and intelligence: France ends military presence in West Africa

Domestic politics: Met Police to cut half of front desks

The Mighty Stats

FTSE = 8,972.64 (down 0.52%)

S&P 500 = 6,297.36 (up 0.54%)

Nasdaq = 20,884.27 (up 0.74%)

CAC40 = 7,822.00 (up 1.29%)

£1 = $1.34 / €1.16

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The Mighty Detail

Economics: UK unemployment has risen to a four-year high of 4.7 per cent. This comes as inflation rose in June to 3.6 per cent, which is the highest level in nearly a year and a half.

Business and markets: Shares in PepsiCola rose by nearly 8 per cent yesterday. It comes as the soft drink manufacturer exceeded analysts’ expectations and reported revenue of $22.73 billion. Around $22.27 billion had been expected. The company experienced a decline in sales for its food products but an increase in sales for its soda products.

Foreign Affairs: Ukraine’s President Zelensky has appointed Yulia Svyrydenko as the country’s new Prime Minister. Svyrydenko was previously Economy Minister and a key negotiator in Ukraine’s minerals deal with the US. She is the first new Ukrainian Prime Minister since Russia’s invasion in 2022.

Security and intelligence: France handed over its last military base in Senegal yesterday on the orders of the Senegalese Government. This marks the end of France’s permanent military presence in West Africa. It follows the ousting of French troops from former colonies Niger, Mali and Burkina Faso in recent years. These countries have now turned to Russia for military support.

Domestic politics I: The Metropolitan Police has said that it is planning to close half of its front desks in London. The change would reduce the number of counters at which people can walk in and talk to a police officer from 37 to 19. The Met blamed its “budget shortfall and shrinking size” on the move.

Domestic politics II: In other domestic political news:

• The UK Government said it planned to lower the voting age in UK General Elections to 16 years old.

• Veteran Labour MP Diane Abbot was suspended from the Labour Party.

• The UK Government signed its first treaty with Germany since World War II.

The Mighty Calendar

What’s happening today?

• Germany hosts meeting of Europe Interior Ministers

• BBC Proms begin, London

• Royal International Air Tattoo begins, Gloucestershire

Lookahead to the weekend

Saturday

• Darwin200 expedition returns to Falmouth

• Oleksandr Usyk versus Daniel Dubois in World Heavyweight fight

• British and Irish Lions test against Australia (rugby)

Sunday

• Procession of Our Lady of Mount Carmel, London

• The Open Championship finishes (golf), Northern Ireland

• Final Oasis concert in Manchester

• Lord Mayor’s Hot Air Balloon Regatta, London

The Mighty Finale

🌤️Weather today

Rain and thunderstorms in the north of England. Dry in the south. High of 29C and low of 17C in London. Thundery showers in Belfast. Light rain in Edinburgh.

✏️Life coaching quote of the day

• “Be forgiving with your past self. What's done is done. Take the lessons with you and release the guilt.

• Be strict with your present self. Win the moment in front of you right now.

• Be flexible with your future self. There are many paths to success. You don't need life to be a certain way to live well.” – James Clear, writer

Mighty takeaway: Don’t give up on yourself.

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

Adios!

The Mighty Memo team

Wednesday 16 July 2025

The Mighty Headlines

Economics: China’s economy grows but deflation concerns persist

Business and markets: FTSE reaches record high and then falls

Foreign Affairs: Japan’s Government faces challenge from insurgent party

Security and intelligence: Israel hits Syrian Government forces

Domestic politics: UK to change post-Financial Crisis rules

The Mighty Stats

FTSE = 8,938.32 (down 0.66%)

S&P 500 = 6,243.76 (down 0.4%)

Nasdaq = 20,677.80 (up 0.18%)

CAC40 = 7,766.21 (down 0.54%)

£1 = $1.34 / €1.15

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The Mighty Detail

Economics: China’s economy grew marginally more than expected in Q2, increasing by 5.2 per cent. Industrial output grew but retail sales have slowed from a year earlier. Concerns about deflation suggest further economic stimulus may be needed.

Business and markets: The FTSE 100 reached a record high yesterday and broke through the 9,000-point barrier for the first time before slipping in the afternoon. The index has increased by more than 10 per cent since the start of the year. The UK’s recent trade deal with the US is thought to have helped UK companies as global trade tensions rise.

Foreign Affairs: Japan’s ruling Liberal Democratic Party (LDP) is at risk of losing control of the upper house in elections on Sunday. The LDP, which has dominated Japanese politics for 70 years, is struggling with rising living costs, the price of rice, and immigration. A new immigration-sceptic party, Sanseito, is rising in the polls, promising to put “Japan first”.

Security and intelligence: Israel hit Syrian Government forces in the southwest of Syria yesterday. Israel said it was protecting the Druze people, a minority ethnic group. The Syrian Government, which is struggling to contain ethnic tensions in some parts of the country, said it would take legal action against anyone committing “violations or abuses”.

Domestic politics: The UK Chancellor said yesterday that the UK Government would change ring-fencing rules introduced after the 2008 Financial Crisis. These rules currently protect ordinary investors’ money from investment banking activities. Rachel Reeves also announced new plans to help first-time buyers.

The Mighty Calendar

What’s happening today?

• Final Prime Minister’s Questions in UK Parliament ahead of summer holidays

• UK CPI inflation data (June)

• US industrial and manufacturing production data (June)

Lookahead to tomorrow

• G20 Finance Ministers’ meeting in South Africa

• German Chancellor Friedrich Merz visits UK to sign treaty

• Queen Camilla’s 78th birthday

• The Open Championship (golf) begins

• UK unemployment data (June)

• Eurozone CPI inflation data (June)

The Mighty Finale

🌤️Weather today

Sunny spells across most of the UK but heavy rain in Cornwall. High of 26C and low of 15C in London.

✏️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

Mighty takeaway: Don’t take time for granted. Be adventurous and do the things you’ve always wanted to do!

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

Bye!

The Mighty Memo team

Monday 14 July 2025

The Mighty Headlines

Economics: US to impose 30% tariffs on the EU

Business and markets: Google agrees $2.4 billion AI deal

Foreign Affairs: Netherlands rations electricity

Security and intelligence: France boosts defence by €3.5 billion in 2026

Domestic politics: UK Chancellor pledges Thatcher-esque “Big Bang”

The Mighty Stats

FTSE = 8,941.12 (down 0.38%)

S&P 500 = 6,259.75 (down 0.33%)

Nasdaq = 22,780.60 (down 0.21%)

CAC40 = 7,829.29 (down 0.92%)

£1 = $1.35 / €1.15

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The Mighty Detail

Economics: President Trump has said that he would impose 30 per cent tariffs on the EU from the 1st August after trade talks stalled. The European Commission has said that it would continue working to reach a deal with the US by the 1st August. President Trump also said that he would impose 35 per cent tariffs on Canadian goods and 30 per cent tariffs on Mexican goods from 1st August.

Business and markets: Google has reached a $2.4 billion deal with the AI computer coding company Windsurf. Google will have a non-exclusive licence for certain Windsurf technology and it will hire senior Windsurf employees. It comes after OpenAI was in talks to buy Windsurf earlier this year for $3 billion.

Foreign Affairs: There are reports that the Netherlands is rationing electricity to ease the stress on its power grid. More than 11,900 businesses are waiting for electricity network connections in the Netherlands. It comes after increases in power demand and the Netherlands’ move away from gas power in 2022.

Security and intelligence: French President Emmanuel Macron announced plans yesterday to increase defence spending by €3.5 billion in 2026 and by €3 billion in 2027. France will aim to spend €64 billion on defence in 2027, which is double the €32 billion it spent when Macron came into office in 2017. President Macron said on Sunday that “To be free in this world we must be feared. To be feared we must be powerful”.

Domestic politics: The UK Chancellor, Rachel Reeves, will pledge to create a Thatcher-esque “Big Bang” to reduce business regulation and encourage investment in the UK. The news comes ahead of Reeves’s Mansion House speech on Tuesday.

The Mighty Calendar

What’s happening today?

• President Trump expected to make “major announcement” on Russia

• China hosts meeting of Shanghai Cooperation Council

• China GDP data (Q2 2025)

• China retail sales, industrial production, unemployment data (June)

Lookahead to tomorrow

• UK Chancellor delivers Mansion House speech

• President Trump addresses Pennsylvania Energy and Innovation Summit

• EU industrial production data (May)

• US CPI inflation data (June)

• Company results from: Citigroup, Wells Fargo, Blackrock, JPMorgan Chase, BNY Mellon, Barratt Developments, Ericsson

The Mighty Finale

🌤️Weather today

Sunny spells in the south of England. Thundery showers in the north. High of 27C and low of 14C in London. Light rain in Belfast. Thundery showers in Edinburgh.

✏️Life coaching quote of the day

“I’m a very positive thinker, and I think that is what helps me the most in difficult moments.” – Roger Federer, 20 times Grand Slam singles tennis champion

Mighty takeaway: Always try to keep a positive mindset.

That’s it for this Monday morning. Thanks for reading and we hope that you have a good start to the week.

Bye!

The Mighty Memo team

Friday 11 July 2025

The Mighty Headlines

Economics: Coffee futures rise after US announces 50% tariff on Brazil

Business and markets: Ferrero buys Kellogg for $3.1 billion

Foreign Affairs: New Palestinian militia emerges in Gaza

Security and intelligence: UK invests £163 million in Musk satellite rival

Domestic politics: UK and France reach migrant deal

The Mighty Stats

FTSE = 8,975.66 (up 1.23%)

S&P 500 = 6,280.46 (up 0.27%)

Nasdaq = 20,630.66 (up 0.094%)

CAC40 = 7,902.25 (up 0.3%)

£1 = $1.36 / €1.16

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The Mighty Detail

Economics: Arabica coffee futures rose by over 3.5 per cent yesterday morning. It comes after President Trump announced a 50 per cent tariff on Brazilian imports from the 1st August. Trump cited Brazil’s “very unfair trade relationship” with the US and the ongoing criminal trial of his ally former Brazilian President Bolsonaro as reasons for the tariffs. Brazil is a major producer of coffee.

Business and markets: The Italian food company Ferrero said yesterday that it would buy the US cereal manufacturer WK Kellogg for $3.1 billion. It will pay $23 per share, which is a 31 per cent premium on the closing share price on Wednesday. Kellogg has struggled in recent years and holds over $500 million of debt.

Foreign Affairs: A new Palestinian militia in Gaza is seeking to challenge Hamas’s control of the territory. The 300-strong Popular Forces group says that it is working with Israel and seeks to protect humanitarian aid from “looting…and organised theft” by Hamas-linked group. It claims that Hamas has responded with assassinations of Popular Forces members.

Security and intelligence: The UK Government is set to invest a further £163 million in Eutelsat, the European rival to Elon Musk’s Starlink satellite system. The French Government announced a €1.35 billion investment in Eutelsat earlier this year. The UK Government said its own investment would support national security and its domestic space industry.

Domestic politics: The UK and France have agreed to a “one in, one out” migrant returns pilot scheme, to address the small boat crossings in the English Channel. The deal will see the UK return a set number of cross-Channel migrants to France each week. In return, the UK will accept the same number of asylum seekers from France with family connections to the UK.

The Mighty Calendar

What’s happening today?

• 30th anniversary of the Srebrenica massacre

• Church of England General Synod begins

• Oasis play first reunion concert in Manchester

• UK GDP, trade and manufacturing data (May)

• China trade data (June)

• Company results from: Norwegian air

Lookahead to tomorrow

Saturday

• Twelve of July parades in Northern Ireland

• Wimbledon Ladies’ Final

• England versus Argentina (rugby)

• Goodwood Festival of Speed

Sunday

• Wimbledon Men’s Final

• FIFA Club World Cup Final, USA

The Mighty Finale

🌤️Weather today

Bright sunshine across the UK. High of 32C and low of 17C in London.

✏️Life coaching quote of the day

“You have exactly one life in which to do everything you’ll ever do. Act accordingly.” – Colin Wright, writer and journalist

Mighty takeaway: Live the life you imagine for yourself.

That’s it for this morning. Thanks for reading and we hope you enjoy the weekend. Remember the suncream!

Bye!

The Mighty Memo team

Wednesday 9 July 2025

The Mighty Headlines

Economics: UK faces £22 billion increase to debt interest

Business and markets: Stock markets ignore US tariff threats

Foreign Affairs: Canada arrests four people on alleged terrorism offences

Security and intelligence: Russia relying on Chinese tech for drones

Domestic politics: Official report says UK public finances are “vulnerable”

The Mighty Stats

FTSE = 8,854.18 (up 0.54%)

S&P 500 = 6,225.52 (down 0.072%)

Nasdaq = 20,418.46 (up 0.029%)

CAC40 = 7,766.71 (up 0.056%)

£1 = $1.36 / €1.16

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The Mighty Detail

Economics: The UK is at risk of facing a £22 billion rise in its debt interest. This is because UK pension funds are buying fewer Government bonds which causes bond prices to fall and bond yields to rise. It also means that the UK Government will need more foreign investors to buy its debt.

Business and markets: The financial markets in Asia, Europe and the US broadly ended Tuesday in positive territory. This is despite fresh pressure from the US on tariffs. It is being reported that traders are taking tariff announcements from the US administration less seriously as the deadline for imposing them is repeatedly pushed back. The new US tariff deadline has moved from the 9th July (today) to the 1st August.

Foreign Affairs: The Canadian police has charged four people, including members of the military, for alleged terror offences. The group is accused of organising an anti-government militia in Quebec and is reported to have gathered 16 explosive devices, 83 firearms and accessories, and around 11,000 rounds of ammunition.

Security and intelligence: There are reports that Russia is relying on Chinese companies for drone technology and manufacturing capabilities. The news comes as President Trump said yesterday that he would ship more weapons to Ukraine and that he was “disappointed” that President Putin “has not stopped”.

Domestic politics: The UK’s independent Office for Budget Responsibility has warned that the country’s public finances are in a “vulnerable” state. It claims that rising defence, health and welfare spending is leading to higher borrowing and that global trade tensions are impacting UK GDP.

The Mighty Calendar

What’s happening today?

• Banquet at London’s Guildhall for President Macron

• Taiwan holds Han Kuang drills simulating a Chinese attack

• China inflation data (June)

Lookahead to tomorrow

• UK Prime Minister and French President host Franco-British summit

• Italy hosts the Ukraine Recovery Conference

• Vote of no-confidence expected in the European Commission President in the European Parliament

• US initial jobless claims (weekly)

• Company results from: Delta Airlines

The Mighty Finale

🌤️Weather today

Sunny spells across most of England but cloudy in the northwest. High of 27C and low of 16C in London. Cloudy in Belfast. Sunny spells in Edinburgh.

✏️Life coaching quote of the day

“When you think you are too old to do something new, remember you will never be younger than you are right now.” – James Clear, writer

Mighty takeaway: Age is no barrier to what you want to do!

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

Adios!

The Mighty Memo team

Monday 7 July 2025

The Mighty Headlines

Economics: US’s trading partners race to get a trade deal

Business and markets: Air France-KLM buys majority stake in SAS

Foreign Affairs: Ancient lotus flowers bloom in Japan

Security and intelligence: BRICS criticise West over tariffs and defence

Domestic politics: Met police chief suggests mega-police forces needed

The Mighty Stats

FTSE = 8,822.91 (down 0.0033%)

S&P 500 = 6,279.35 (down 0.83%)

Nasdaq = 20,601.10 (up 1.02%)

CAC40 = 7,696.27 (down 0.75%)

£1 = $1.37 / €1.16

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The Mighty Detail

Economics: The US’s 18 major trading partners raced this weekend to finalise trade deals ahead of a deadline on Wednesday. If countries do not agree a deal with the US by 9 July, they will face the high tariffs which had initially been set on 2 April. There are signs, however, that the US Government could further extend the deadline for negotiation.

Business and markets: Air France-KLM announced on Friday that it would become a majority shareholder of the Scandinavian airline company SAS. The French and Dutch group will increase its stake in SAS from around 20 per cent to 60.5 per cent. The deal is expected to go through in the second half of 2026, subject to regulatory approval from the EU which may have competition concerns.

Foreign Affairs: Ancient lotus flowers have bloomed in a park in Gyoda, Japan. The lotus flowers come from 1,400 year old seeds found during excavation work in the city in the 1970s.

Security and intelligence: A statement from the BRICS nations summit in Brazil  has criticised global tariff increases, attacks on Iran, and increases in NATO defence spending. Chairing the summit, Brazil’s President said that “it is always easier to invest in war than in peace.” The BRICS nations include Brazil, Russia, India, China and South Africa.

Domestic politics: The head of the Metropolitan Police, Sir Mark Rowley, has said that England and Wales’s 43 police forces should be merged into 12 to 15 mega-police forces. Sir Mark said that some police forces were “too small to operate” and that investment in police officers over new technologies was making it more difficult to tackle modern crime.

The Mighty Calendar

What’s happening today?

• Service at St Paul’s Cathedral to mark 20th anniversary of 7/7 London bombings

• President Trump hosts Prime Minister Netanyahu at the White House

• Poland introduces temporary border controls with Germany and Lithuania

• UK house price data (June)

Lookahead to tomorrow

• President Macron begins three-day state visit to the UK

• Amazon Prime global shopping day

• Germany, France trade data (May)

The Mighty Finale

🌤️Weather today

A chance of rain but mostly dry in England. High of 21C and low of 11C in London. Sunny spells in Belfast. Sunny in Edinburgh.

✏️Life coaching quote of the day

“Let us not take ourselves too seriously. None of us has a monopoly of wisdom and we must always be ready to listen and respect other points of view.” – Queen Elizabeth II

Mighty takeaway: Nothing more to add!

That’s it for this Monday morning. Thanks for reading and we hope that you have a good start to the week.

Bye!

The Mighty Memo team

Friday 4 July 2025

The Mighty Headlines

Economics: South America’s Mercosur and Europe’s EFTA sign trade deal

Business and markets: HSBC sells UK life insurance business

Foreign Affairs: Dalai Lama says his Trust will identify his successor

Security and intelligence: Trump-Putin call yields no progress on Ukraine

Domestic politics: Value of UK bonds and sterling rise

The Mighty Stats

FTSE = 8,823.20 (up 0.55%)

S&P 500 = 6,279.35 (up 0.83%)

Nasdaq = 20,601.10 (up 1.02%)

CAC40 = 7,754.55 (up 0.21%)

£1 = $1.37 / €1.16

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The Mighty Detail

Economics: The Mercosur trade block in South America has signed a trade deal with the EFTA trade bloc in Europe. The deal will establish a free trade area with combined GDP of more than $4.23 trillion and covering almost 300 million people. Key members of Mercosur include Argentina, Brazil, Paraguay, Uruguay and Bolivia. EFTA includes Switzerland, Norway, Liechtenstein and Iceland. A similar deal was signed between the EU and Mercosur last year but has not yet been ratified.

Business and markets: HSBC has sold its UK life insurance business to Chesnara for £260 million. It marks a further retreat for the bank from its European operations, after it sold its retail banking business in France to CCF early last year. HSBC is focusing on growth in Asia instead.

Foreign Affairs: The Dalai Lama, who turns 90 years old on Sunday, has said that he will be reincarnated after this death and that the Dalai Lama Trust will have the sole authority to identify his successor. Beijing, which annexed Tibet in 1950, insists that it will choose his successor.

Security and intelligence: President Trump has said that his telephone call with President Putin yesterday resulted in no progress “at all” towards ending the war in Ukraine. It comes as the Pentagon said it would stop the delivery of some US air missiles and munitions to Ukraine amid concerns that the stock of US weapons was being reduced too much.

Domestic politics: The price of UK Government bonds and the value of the pound rose yesterday as the UK Prime Minister backed the UK Chancellor to remain in her job. It came as UK Government borrowing costs rose significantly on Wednesday on the rumour that the Chancellor could be replaced.

The Mighty Calendar

What’s happening today?

• US public holiday (Independence Day)

• One year anniversary of UK Labour Party’s election win

• UK, EU construction growth data (June)

Lookahead to the weekend

Saturday

• Tour de France (cycling) begins

• England vs Argentina (rugby)

• Ozzy Osbourne’s final concert with Black Sabbath

Sunday

• Brazil hosts BRICS Summit

• Annual Orange Order service in Drumcree

• F1 British Grand Prix, Silverstone

The Mighty Finale

🌤️Weather today

Sunny in the south, patchy rain and cloud in the north of England. High of 27C and low of 16C in London. Light rain in Belfast and Edinburgh.

✏️Life coaching quote of the day

“To be wronged is nothing, unless you continue to remember it.” – Confucius

Mighty takeaway: Don’t hold on to bitterness.

That’s it for this morning! Thanks for reading and we hope you enjoy the weekend.

Adios!

The Mighty Memo team

Wednesday 2 July 2025

The Mighty Headlines

Economics: EU to accept universal US tariffs

Business and markets: AstraZeneca CEO wants to move listing to NYC

Foreign Affairs: Thai PM suspended over leaked telephone call

Security and intelligence: US judge says Huawei must face criminal charges

Domestic politics: UK Government wins vote on diluted welfare reform

The Mighty Stats

FTSE = 8,785.33 (up 0.28%)

S&P 500 = 6,198.01 (down 0.11%)

Nasdaq = 20,202.89 (down 0.82%)

CAC40 = 7,662.59 (down 0.043%)

£1 = $1.37 / €1.17

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The Mighty Detail

Economics: There are reports that the EU will accept a 10 per cent universal tariff from the US. This would be in exchange for lower rates on certain products such as pharmaceuticals, alcohol, semiconductors, and commercial aircraft. It would also mean quotas and exemptions on EU cars, steel and aluminium. 

Business and markets: Shares in pharmaceutical giant AstraZeneca rose by 2 per cent yesterday. It came on reports that CEO Pascal Soriot would like to move the company’s listing from London to New York. Soriot is said to be frustrated by restrictions on the approval and pricing of new medicines in the UK.

Foreign Affairs: The Prime Minister of Thailand, Paetongtarn Shinawatra, was suspended from office yesterday by the country’s Constitutional Court. It follows a leaked telephone conversation between the Prime Minister and the Cambodian Senate President in which the Prime Minister seemed to criticise a Thai Army commander when discussing a border dispute.

Security and intelligence: A US judge has ruled that Huawei should face criminal proceedings over commercial theft and other allegations. Prosecutors claim that the Chinese technology company has stolen trade secrets from US companies, committed bank fraud and been involved in racketeering.

Domestic politics: The UK Government has won a vote on welfare reform by a majority of 75. It follows, however, last minute concessions which mean that most of the £5 billion of savings which had been proposed will not now happen.

The Mighty Calendar

What’s happening today?

• UK Justice Secretary addresses Annual Judges Dinner

• EU unemployment data (May)

Lookahead to tomorrow

• London Assembly considers proposal to pedestrianise Oxford Street

• French Foreign Minister addresses Aix-en-Provence Economic Forum

• US trade data (May)

• Company results from: Currys

The Mighty Finale

🌤️Weather today

Light rain in the northeast and southeast of England. Dry elsewhere. High of 23C and low of 12C in London. Thundery showers in Belfast. Light rain in Edinburgh.

✏️Life coaching quote of the day

“Life has no limitations, except the ones you make.” – Les Brown, motivational speaker

Mighty takeaway: Don’t restrict your dreams!

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

Cheerio!

The Mighty Memo team

Monday 30 June 2025

The Mighty Headlines

Economics: US pauses trade talks with Canada

Business and markets: $1 billion tariff hit to Nike

Foreign Affairs: President Putin extends Russia’s secrecy law

Security and intelligence: IAEA says Iran could enrich uranium again soon

Domestic politics: Conservative Party and Reform UK work together on bill

The Mighty Stats

FTSE = 8,798.91 (up 0.72%)

S&P 500 = 6,173.07 (up 0.52%)

Nasdaq = 20,273.46 (up 0.52%)

CAC40 = 7,691.55 (up 1.78%)

£1 = $1.37 / €1.17

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The Mighty Detail

Economics: President Trump has said that trade talks with Canada will stop “until such time as they drop certain taxes”. Negotiations seem to have reached an impasse because of Canada’s decision to put a digital services tax on US technology companies which takes effect today. The tax is estimated to cost US tech companies around $3 billion.

Business and markets: Nike has said that it expects US tariffs to cost it around $1 billion. It comes as the company struggles with poor performance. Revenue was down 10 per cent to $46.3 billion in the year to May 2025. A new business strategy will see it decreasing production in China, which accounts for 16 per cent of the shoes it imports into the US.

Foreign Affairs: President Putin has further extended Russia’s state secrecy law to strengthen control of the country. A decree published in the last week means that details of Russia’s foreign, trade and economic policy as well as information on scientific developments and news of military mobilisations may be classified.

Security and intelligence: The head of the International Atomic Energy Agency, Rafael Grossi, has said that Iran could be producing enriched uranium within a few months. It follows President Trump’s comments on Friday that the US would bomb Iran “without question” if it enriches uranium to a concerning level.

Domestic politics: The UK Conservative Party and Reform UK Party are working together in Parliament for the first time. The two parties are supporting an amendment to the Victims and Courts Bill which would require the nationalities of migrant offenders to be revealed.

The Mighty Calendar

What’s happening today?

• Wimbledon begins

• UK GDP data (Q1 2025)

• China manufacturing growth data (June)

Lookahead to tomorrow

• Canada public holiday (Canada Day)

• Royal Week begins (Scotland)

• Welfare Reform Bill vote in UK Parliament

• US manufacturing growth data (June)

The Mighty Finale

🌤️Weather today

A scorcher! Sun across England. High of 33C and low of 19C in London. Thundery storms in Belfast and sunny spells in Edinburgh.

✏️Life coaching quote of the day

“If a problem is fixable, if a situation is such that you can do something about it, then there is no need to worry. If it's not fixable, then there is no help in worrying. There is no benefit in worrying whatsoever.” – The Dalai Lama

Mighty takeaway: How does worrying actually help you?

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

Bye!

The Mighty Memo team

Friday 27 June 2025

The Mighty Headlines

Economics: Risk of banking crisis in Russia

Business and markets: US Treasuries fall with Fed Chair’s future in doubt

Foreign Affairs: Cryptocurrencies’ everyday use in Bolivia

Security and intelligence: US doubles down on impact of Iran strikes

Domestic politics: Bank of England Governor links tax increases to jobs slowdown

The Mighty Stats

FTSE = 8,735.60 (up 0.19%)

S&P 500 = 6,141.02 (up 0.8%)

Nasdaq = 20,167.91 (up 0.97%)

CAC40 = 7,557.31 (down 0.011%)

£1 = $1.37 / €1.17

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The Mighty Detail

Economics: According to some reports, there is a credible risk of a systemic banking crisis in Russia in the next 12 months. Russian banking officials are concerned about the level of bad debt on their balance sheets and the risk of defaults by retail and corporate clients because of the current high interest rate of 20 per cent in Russia.

Business and markets: US Government bond yields fell yesterday on the news that President Trump is considering naming a replacement for Federal Reserve Chair Jerome Powell. Trump has repeatedly expressed frustration at the perceived slow rate of interest rate cuts by the Fed. Treasury Secretary Scott Bessent has been named as a potential successor to Powell.

Foreign Affairs: Cryptocurrencies are increasingly being used in small businesses in Bolivia as an alternative to the fiat (traditional) currencies normally used to pay for products and services. Bolivia’s currency, the boliviano, has lost half of its value this year on the black market and reserves of the US dollar have been almost depleted after an economic and energy crisis.

Security and intelligence: The US Secretary of Defense, Pete Hegseth, has said that there is no evidence the Iranians moved uranium ahead of US strikes. The UN has also said that the centrifuges at Fordow, a key Iranian nuclear facility, are “no longer operational”.

Domestic politics: The Bank of England Governor, Andrew Bailey, has said that the UK Government’s national insurance rise is contributing to a slowing jobs market. Speaking at the British Chamber of Commerce conference yesterday, Bailey suggested that higher taxes were leading to a cut in jobs and a decline in wage growth.

The Mighty Calendar

What’s happening today?

Glastonbury Festival beings

Wimbledon tennis draw

Eurozone consumer confidence data (June)

Canada GDP data (May)

Lookahead to tomorrow

Saturday

•  British Summer Time Hyde Park music festival

• Canada Day celebration, Trafalgar Square, London

• Iceland Volcano Marathon

Sunday

• Organization for Security and Co-operation in Europe Parliamentary Assembly

• F1 Austrian Grand Prix

• Glastonbury Festival (final day)

The Mighty Finale

🌤️Weather today

Sunny intervals across much of England. High of 26C and low of 16C in London. Light rain in Belfast and Edinburgh.

✏️Life coaching quote of the day

“There will always be someone who can't see your worth. Don't let it be you.” – Mel Robbins, motivational writer

Mighty takeaway: Believe in yourself!

That’s it for this morning and for this week. We hope that you enjoy the weekend.

Adios!

The Mighty Memo team

Wednesday 25 June 2025

The Mighty Headlines

Economics: German budget to raise defence spending by 70% by 2029

Business and markets: Oil prices fall by 6 per cent after ceasefire

Foreign Affairs: Japan conducts first ever missile test on its territory

Security and intelligence: Pentagon leak says Iranian nuclear sites intact

Domestic politics: UK stays the course on welfare reform despite protests

The Mighty Stats

FTSE = 8,758.99 (up 0.011%)

S&P 500 = 6,092.18 (up 1.11%)

Nasdaq = 22,190.52 (up 1.53%)

CAC40 = 7,615.99 (up 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 German Government announced its budget yesterday, including plans to boost military spending by 70 per cent to €162 billion by 2029. This is a faster increase in defence spending than the UK and France. A total of €134 billion this year is earmarked for infrastructure and defence spending, which the Government also hopes will revitalise the German economy.

Business and markets: The price of oil fell by 6 per cent during trading yesterday after falling 7 per cent on Monday. It follows the ceasefire between Iran and Israel as well as suggestions from President Trump that he would ease sanctions on China to allow the country to buy oil from Iran.

Foreign Affairs: For the first time, Japan has conducted a missile test on its own territory. Japanese forces fired a Type 88 short range missile in Hokkaido. Japan will also begin deploying long range Tomahawk cruise missiles later this year, which it bought from the US. The country‎ is seeking to counter Chinese influence in the region.

Security and intelligence: It is being reported that the US’s strikes on Iran have not significantly damaged Iran’s nuclear sites. Leaked information from the Pentagon’s intelligence section suggests that Iran’s stockpile of uranium and its centrifuges have not been destroyed and that its nuclear programme has been pushed back by only a few months. The White House acknowledged the existence of the report but says it disagrees with it.

Domestic politics: The UK Government is expected to go ahead with planned reforms to welfare despite opposition by around 120 of its MPs. The UK welfare budget is due to reach £100 billion by 2030. The Government is proposing to reduce that by £5 billion which opponents say will affect people with disabilities and long-term health conditions.

The Mighty Calendar

What’s happening today?

• NATO leaders’ summit (final day)

• Prime Minister’s Questions in UK Parliament

• US new homes sales data (May)

Lookahead to tomorrow

• European Council leaders’ summit

• US GDP data (Q1 2025)

• US retail consumer spending (Q1 2025)

• US initial jobless claims (weekly)

• Company results from: Nike, H&M, Walgreens Boots Alliance

The Mighty Finale

🌤️Weather today

Mixture of cloud and sunshine in most of England. Light rain in the southwest. High of 28C and low of 17C in London. Cloudy in Belfast and Edinburgh.

✏️Life coaching quote of the day

“Honesty is a very expensive gift. Don't expect it from cheap people.” – Warren Buffett, investor

Mighty takeaway: Choose your associates and friends carefully.

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

Bye!

The Mighty Memo team

Monday 23 June 2025

The Mighty Headlines

Economics: Food inflation threatens UK interest rates

Business and markets: UK top destination for European mergers in 2025

Foreign Affairs: Iran’s Foreign Minister in talks with Putin today

Security and intelligence: NATO members to spend 5% of GDP on defence

Domestic politics: Reform UK tops poll on 34%, ahead of Labour Party

The Mighty Stats

FTSE = 8,774.65 (down 0.2%)

S&P 500 = 5,967.84 (down 0.22%)

Nasdaq = 19,447.41 (down 0.51%)

CAC40 = 7,589.66 (up 0.48%)

£1 = $1.35 / €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: There are concerns that the increasing price of food in the UK could slow the rate at which the Bank of England cuts interest rates. The price of butter, beef and chocolate rose by nearly 20 per cent last month. This is attributed partly to increases in national insurance, the minimum wage and the cost of packaging. The Bank of England kept interest rates at 4.25 per cent last week.

Business and markets: The UK was the number one place in Europe for mergers and acquisitions in the first six months of 2025. According to a report by law firm White & Case, a total of 1,207 transactions worth £87.7 billion were done in the first half of the year.

Foreign Affairs: Iran’s Islamic Revolutionary Guard has said that “war starts right now” after the US bombed three Iranian nuclear sites early on Sunday. Iran’s Foreign Minister, Abbas Araghchi, will travel to Russia today to discuss the situation with President Putin. He has said that the US has crossed “a very big red line.”

Security and intelligence: NATO members yesterday agreed in principle to increase defence spending to 5% of GDP by 2035. The agreement will become official when NATO leaders, including President Trump, sign the deal on Wednesday. Spain is the only member to opt out of the deal, saying that it would meet its commitments without the need to meet the spending target.

Domestic politics: A new opinion poll has put Reform UK on 34 per cent. This is nine points ahead of the Labour Party on 25 per cent and nearly twenty points ahead of the Conservative Party on 15 per cent.

The Mighty Calendar

What’s happening today?

• UK Industrial Strategy and National Security Strategy published

• Reform UK’s Nigel Farage holds press conference at 9.00am, London

• UK, Eurozone services and manufacturing growth data (May)

• US services and manufacturing growth data (June)

Lookahead to tomorrow

• UK Prime Minister attends NATO summit, The Hague

• US Federal Reserve chair testifies before the Joint Economic Committee, Washington DC

• Canada CPI inflation data (May)

The Mighty Finale

🌤️Weather today

Patchy sun in England. High of 23C and low of 14C in London. Patchy sun in Belfast and Edinburgh too.

✏️Life coaching quote of the day

“You are the only person who thinks in your mind! You are the power and authority in your world.” – Louise Hay, motivational writer

Mighty takeaway: Change your thoughts and you can change your life!

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

Bye!

The Mighty Memo team

Friday 20 June 2025

The Mighty Headlines

Economics: Switzerland lowers interest rates to zero

Business and markets: Shares in Hayes fall by 10 per cent

Foreign Affairs: Iran races to export its oil

Security and intelligence: US holds direct talks with Iran on conflict

Domestic politics: £725 billion UK infrastructure plan announced

The Mighty Stats

FTSE = 8,791.80 (down 0.58%)

S&P 500 = 5,980.87 (down 0.031%)

Nasdaq = 19,546.27 (up 0.13%)

CAC40 = 7,553.45 (down 1.34%)

£1 = $1.35 / €1.17

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The Mighty Detail

Economics: The Swiss central bank has lowered interest rates to zero. It comes after inflation in Switzerland fell to -0.1 per cent in May 2025 compared with a year earlier. Between 2015 and 2022 Swiss interest rates were -0.75 per cent which meant savers were effectively penalised for keeping their money in banks.

Business and markets: Shares in the international recruitment company Hays fell by nearly 10 per cent yesterday. The company said it expects operating profits of around £45 million in 2025. Profits of £56.4 million had been expected. It said that global economic uncertainty was a factor in a weaker jobs market.

Foreign Affairs: There are reports that Iran is rushing to export its oil and protect its revenues as the US considers joining Israel in bombardments. Satellite images show that oil storage tanks in Iran’s key export terminal at Kharg Island have been almost entirely filled up in the last week. Recent data also suggest that Iran’s oil shipments have increased by 44 per cent since the 13th June.

Security and intelligence: It is being reported that US special envoy Steve Witkoff has been holding direct talks with the Iranian Foreign Minister Abbas Araqchi. Witkoff again proposed a plan from last month that would see uranium enriched outside of Iran. Iran has already rejected this idea and Araqchi has said Iran will not negotiate until Israel stops its bombardments.

Domestic politics: The UK Government has announced plans to invest £725 billion on infrastructure in the next decade. This includes £6 billion a year for hospital repairs and £3 billion a year for schools. Around £16 billion will be spent on new homes and £8 billion on flood defences over ten years.

The Mighty Calendar

What’s happening today?

• Assisted dying bill to be debated in UK House of Commons

• President Putin to address St Petersburg International Economic Forum

• UK Government borrowing data (May)

• UK retail sales (May)

Lookahead to the weekend

Saturday 

• Summer Solstice

• Midnight Sun Marathon, Norway

• Prince William turns 43 years old

Sunday

• Women’s PGA Championship (golf), Texas, USA

• US House Speaker Mike Johnson expected to deliver speech in Israeli Parliament

• Royal Highland Show, Edinburgh

The Mighty Finale

🌤️Weather today

Sunny and dry across the UK. High of 29C and low of 17C in London.

✏️Life coaching quote of the day

“Stress and worry tend to be higher before you act. Without action, all you can do is worry. Once you begin, fear shrinks as you start to influence the outcome.” – James Clear, writer

Mighty takeaway: There is nothing to take away the worry quite like taking action.

That’s it for this week. Thanks for reading and we hope you have a good weekend. Stay cool in the heat.

Cheerio!

The Mighty Memo team