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