Friday 3 October 2025
The Mighty Headlines
Economics: Trump focuses on “Democrat Agencies” as shutdown continues
Business and markets: OpenAI now world’s most valuable private company
Foreign affairs: Hungary blocks Ukraine’s EU accession
Security and intelligence: US gives intelligence for Ukraine to hit Russia
UK domestic affairs: Terrorist attack on Manchester synagogue
The Mighty Stats
FTSE = 9,427.73 (down 0.2%)
S&P 500 = 6,715.35 (up 0.062%)
Nasdaq = 22,844.05 (up 0.39%)
CAC40 = 8,056.63 (up 1.13%)
£1 = $1.34 / €1.15
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The Mighty Detail
Economics: President Trump had said that he will look to cut the budgets of “Democrat Agencies” as the US government shutdown enters its third day today.
Around $1.7 trillion of funds for federal agencies have been frozen following a standoff in congress over the budget.
Around 2 million federal workers have had their pay suspended.
Business and markets: OpenAI, the company behind ChatGPT, is now the world’s most valuable private company. It is worth $500 billion. Elon Musk’s company SpaceX is now the world’s second most valuable private company and is worth $400 billion.
Foreign affairs: The Hungarian Prime Minister, Viktor Orban, has used his veto to block Ukraine’s accession to the EU. Orban also vetoed a €140 billion loan to Ukraine which would have used the frozen assets of the Russian Central Bank. It follows two days of meetings between European leaders in Copenhagen this week.
Security and intelligence: President Trump has signed off on providing intelligence to Ukraine so that it can strike more of Russia’s energy infrastructure.
Targets include refineries, pipelines and power stations.
The US is also considering Ukraine’s request for Tomahawk missiles - long-range subsonic cruise missiles - which can hit targets 700km away.
UK domestic affairs: The attacker in yesterday’s terrorist attack on a synagogue in Manchester has been named by the police as Jihad Al-Shamie, a British citizen of Syrian descent. The UK Prime Minister, Sir Keir Starmer, said in a speech yesterday that the UK must defeat rising antisemitic hate.
The Mighty Calendar
What’s happening today?
30 years since OJ Simpson trial verdict
UK services growth data (September) – expected to fall to 51.9
US services growth data (September) – expected to fall to 53.9
Eurozone services growth data (September) – expected to rise to 51.4
Company results from: JD Wetherspoon
Lookahead to the weekend
Saturday
Germany hosts European Interior Ministers’ meeting
Rugby Championship: Argentina vs. South Africa, Twickenham
Sunday
Conservative Party conference begins, Manchester
OPEC+ meets to decide November oil output
NFL London: Minnesota Vikings vs. Cleveland Browns
F1 Grand Prix, Singapore
Hampstead Heath Conker Championships
The Mighty Finale
🌤️Weather today
Strong winds and heavy rain in most of the UK as Storm Amy arrives. Light winds and light rain in southeast England. High of 18C and low of 13C in London.
✏️Life coaching quote of the day
“People rarely succeed unless they have fun in what they are doing.” – Dale Carnegie, motivational writer and speaker
Mighty takeaway: Maximise your happiness and enjoyment in life. What’s the point in doing otherwise?
That’s it for this Friday and for this week. Thank you for reading and we’ll see you next week.
The Mighty Memo team
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