Friday 30 May 2025
The Mighty Headlines
Economics: US courts block and then reinstate Trump tariffs
Business and markets: Salesforce shares fall by over 3 per cent
Foreign Affairs: Trump suggests US-Iran nuclear deal is near
Security and intelligence: UK invests £1 billion in new digital warfare
Domestic politics: UK to double pension megafunds
The Mighty Stats
FTSE = 8,716.45 (down 0.11%)
S&P 500 = 5,912.17 (up 0.4%)
Nasdaq = 19,175.87 (up 0.39%)
CAC40 = 7,779.72 (down 0.11%)
£1 = $1.35 / €1.19
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The Mighty Detail
Economics: A US federal appeals court has temporarily reinstated President Trump’s global reciprocal tariffs and his tariffs on Canada, China and Mexico. It comes after a lower court, the US International Court of Trade, ruled on Wednesday that Trump’s use of executive orders to impose the tariffs was unlawful.
Business and markets: Shares in Salesforce fell by over 3 per cent during trading yesterday. It comes as the software developer said that AI had reduced its hiring of computer engineers and customer service staff. The company also announced its intention to buy data management firm, Informatica, for $8 billion.
Foreign Affairs: President Trump has suggested that the US is close to reaching a deal with Iran on its nuclear programme. He said that he a wanted a deal that would allow US inspectors (not just UN inspectors) to “take whatever we want” and “blow up whatever we want, but nobody getting killed”. The suggestion is that Iran would continue to be able to enrich uranium – one of its key demands – but that it would be prevented from developing nuclear weapons.
Security and intelligence: The UK Government is to invest over £1 billion in a new digital warfare system to eliminate enemy targets on the battlefield. The UK will also establish a Cyber and Electromagnetic Command to protect military networks against cyberattacks. The announcements are part of the UK’s strategic defence review due to be published in full next week.
Domestic politics: The UK Government has said that it plans to double the number of UK pension megafunds and require pension funds to invest in private markets. The policy will seek to provide more money and greater returns for pensioners by investing in UK infrastructure, homes and businesses. The £392 billion Local Government Pension Scheme, for instance, will be consolidated from 86 pools into 6 pools.
The Mighty Calendar
What’s happening today?
President Macron delivers security speech in Singapore
UK Parliament in recess
Canada GDP data (Q1 2025)
China manufacturing growth data (May)
Germany, Italy, Spain CPI inflation data (May)
Lookahead to the weekend
Saturday
UEFA Men’s Champions League Final, Munich, Germany
The Major General’s Review, London (Trooping of the Colour rehearsal)
Sunday
Polish Presidential Election runoff
London to Brighton Classic Car Run
F1 Spanish Grand Prix
US Women’s Open (Golf)
The Mighty Finale
🌤️Weather today
Rain in Manchester but mostly dry elsewhere in England. High of 25C and low of 14C in London. Touch of rain in Belfast and Edinburgh.
✏️Life coaching quote of the day
“If you really want to do something, you'll find a way. If you don't, you'll find an excuse.” – Jim Rohn, motivational speaker
Mighty takeaway: What an interesting perspective. We’ll muse on this quote this weekend.
That’s it for this morning and for this week. See you next week.
Bye!
The Mighty Memo team