Monday 23 March 2026
The Mighty Headlines
Economics: UK Government borrowing costs rise as gilt yields rise
Business and markets: Unilever receives offer from McCormick
Foreign Affairs: Iran and US in tit-for-tat over Strait of Hormuz closure
Security and intelligence: Hungary sends confidential EU material to Russia
Domestic politics: UK PM appears before Liaison Committee today
The Mighty Stats
FTSE = 9,918.33 (down 1.44%)
S&P 500 = 6,506.48 (down 1.51%)
Nasdaq = 21,647.61 (down 2.01%)
Stoxx 600 = 573.28 (down 1.78%)
£1 = $1.33 / €1.15
Lab / Con / Reform = 21 / 17 / 27 per cent (18-20 March, Opinium)
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The Mighty Detail
Economics: UK 10-year gilt yields rose to 5 per cent on Friday for the first time since 2008, hitting Government borrowing costs. The markets have generally reacted badly to the news that the US Government was making plans to send ground troops to Iran and that Iraq had declared force majeur on oil fields developed by foreign companies.
The declaration means that Iraq does not have to pay compensation to those companies for failing to export oil.
Business and markets:Unilever has received an offer from the American company, McCormick & Company for its food business. It comes as Unilever’s new CEO, Fernando Fernandez, is focusing the company on personal care and beauty products. Unilever made $6.8 billion in profits last year.
Foreign Affairs: President Trump said at the weekend that the US would hit Iran’s electricity infrastructure if it does not re-open the Strait of Hormuz. Iran said that it would hit the energy and water infrastructure of its neighbours in the Gulf if the US carries out its threat.
Security and intelligence: There are reports that Hungary’s Foreign Minister, Péter Szijjártó, has been sending confidential information from EU meetings to his Russian counterpart Sergei Lavrov.
Former European Council President and current Polish Prime Minister, Donald Tusk, appeared to confirm the reports yesterday. Hungary strongly denies the allegations.
Domestic politics: UK Prime Minister, Sir Keir Starmer, appears before the Liaison Committee today. The Liaison Committee is composed of the Chairs of the Commons Select Committees and presents an opportunity for them to scrutinise the Prime Minister’s work together.
A livestream will be available here from 2.30pm UK time.
The Mighty Calendar
What’s happening today?
UK PM Starmer appears before the Commons Liaison Committee
President Trump visits Memphis, Tennessee
Lookahead to tomorrow
BAFTA television awards nominations announced
Denmark’s snap Parliamentary election takes place
UEFA Women’s Champions League Quarterfinals
Company results from: Kingfisher
The Mighty Finale
🌤️Weather today
Light cloud but dry across the UK. High of 15C and low of 7C in London.
✏️Life coaching quote of the day
“Things which matter most must never be at the mercy of things which matter least.” – Johann Wolfgang von Goethe, German writer and statesman
Mighty takeaway: Keep things in perspective!
That’s it for this morning. We hope that you have a good start to the week!
Adios!
The Mighty Memo team
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