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