Friday 10 July 2026
*Good luck to England at the Football World Cup on Saturday! Kick-off is at 10.00pm UK time.*
The Mighty Headlines
Economics: IMF upgrades UK’s 2026 growth forecast
Business and markets: SK Hynix to debut on the Nasdaq
Foreign Affairs: Palestinian Authority sets first election in 20 years
Security and intelligence: Italy expels Russian diplomats citing espionage
Domestic politics: Andy Burnham on track to be PM after MPs’ support
The Mighty Stats
FTSE = 10,472.45 (down 0.16%)
S&P 500 = 7,543.64 (up 0.81%)
Nasdaq = 26,206.89 (up 1.30%)
Stoxx 600 = 640.87 (up 0.78%)
£1 = $1.34 / €1.17
Lab / Con / Reform / Green = 18 / 20 / 23 / 16 per cent (Find Out Now, 7-8 July)
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The Mighty Detail
Economics: Earlier this week, the International Monetary Fund upgraded its growth forecast for the UK in 2026 from 0.8 per cent to 1 per cent. This would make the UK the third-strongest performing economy in the G7 after the US on 2.3 per cent and Canada on 1.1 per cent.
Business and markets: Chipmaker SK Hynix, is set to debut on the Nasdaq today. South Korea’s second most valuable company is already listed in South Korea and is worth around $1 trillion.
SK Hynix is one of the world’s principal manufacturers of computer memory chips along with US firm Micron and South Korea firm Samsung.
Foreign Affairs: The Palestinian President, Mahmoud Abbas, has passed a decree setting legislative elections for the 28th November. They will be the first elections in the Palestinian Territories since 2006. President Abbas, who is 90 years old, also said that there would be Presidential elections in 2027 – the first since he took power in 2005.
Security and intelligence: Italy has expelled two Russian diplomats whom it has accused of espionage. Italy’s Foreign Minister, Antonio Trajani, said that the actions of the two military attachés were “serious and unacceptable acts of interference” by Russia. Moscow said it would give an “appropriate response”.
It comes a few days after Italian police also arrested two people, including a retired Carabinieri officer, for allegedly spying for Russia.
Domestic politics: Andy Burnham is set to become the UK’s next Prime Minister after securing nominations for the Labour leadership from over 320 MPs. No other candidate has declared that they will stand. Burnham is expected to become the new Labour leader next week and Prime Minister on the 20th July.
The Mighty Calendar
What’s happening today?
Church of England General Synod begins, York (ends the 14th July)
Prince Harry attends Invictus Games 2027 countdown event, Birmingham
Prince William plays in Royal Charity Polo Cup, Guards Polo Club, Windsor
Football World Cup (UK time): Spain vs Belgium, 8:00 PM, SoFi Stadium, Inglewood, California
Lookahead to the weekend
Saturday
Wimbledon Ladies’ Final (tennis)
Football World Cup (UK time): England vs Norway, 10:00 PM, Hard Rock Stadium, Miami Gardens, Florida
Sunday
Battle of the Boyne marches in Northern Ireland
Wimbledon Gentleman’s Final (tennis)
Football World Cup (UK time): Argentina vs Switzerland, 2:00 AM, Arrowhead Stadium, Kansas City, Missouri
The Mighty Finale
🌤️Weather today
Sunny across the UK. High of 31C and low of 17C in London.
✏️Life coaching quote of the day
“Ask yourself: What process should I begin engaging in to deserve good health, to deserve a good relationship, to deserve prosperity, to deserve an enterprise? What must I do to begin the process to deserve?” – Jim Rohn, motivational speaker
Mighty takeaway: Are you putting in the time and work to get what you want?
That’s it for this morning and for this week. Thank you for reading and we hope that you have a lovely weekend!
Goodbye!
The Mighty Memo team
*To read the Mighty Memo manifesto and learn about why we do this visit: https://www.mightymemo.co.uk/why*