Friday 31 October 2025

Written By Mighty Memo

The Mighty Headlines

 

Economics: US-China deal reduces tariffs by 10 per cent

 

Business and markets: Facebook shares drop after $70 billion AI spend

 

Foreign Affairs: Violent protests in Tanzania after election

 

Security and intelligence: Movement captured at Iran’s nuclear sites

 

UK domestic affairs: Palace to remove titles from Prince Andrew

 

The Mighty Stats

 

FTSE = 9,760.06 (up 0.4%)

S&P 500 = 6,822.34 (down 0.99%)

Nasdaq = 23,581.14 (down 1.57%)

CAC40 = 8,157.29 (down 0.53%)

 

£1 = $1.31 / €1.14

 

Lab / Con / Reform = 16 / 16 / 32 per cent

 

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The Mighty Detail

 

Economics: President Trump has agreed to cut US tariffs on Chinese goods. These currently stand at 55 per cent and include the “Liberation Day” tariff (10 per cent), the fentanyl tariff (20 per cent) and pre-existing tariffs (25 per cent). Trump said the fentanyl tariffs would be cut to 10 per cent and that China would also buy more US soybeans. China said it would end its restrictions on rare earth exports for one year.

 

Business and markets: Shares in Facebook’s parent company, Meta, fell by more than 10 per cent yesterday.

  • The company’s high spending on AI (set to be between $70 billion and $72 billion this year) overshadowed positive earnings results.

  • Meta reported revenue of $51.24 billion in Q3 2025 – a 26 per cent increase on last year.

 

Foreign Affairs: There have been violent protests in Tanzania following Wednesday’s presidential and parliamentary elections. An internet blackout and a curfew have been imposed. President Suluhu Hassan – Tanzania’s first female president – is expected to secure a second term but all main opposition candidates have either been jailed or disqualified from contesting the election.

 

Security and intelligence: The head of the UN’s nuclear watchdog, Rafael Grossi, has said that movement has been detected at Iran’s nuclear sites.

  • Grossi said satellite imagery did not indicate that Iran was accelerating uranium production but that movement was taking place where enriched stockpiles are stored.

 

UK domestic affairs: Buckingham Palace has started procedures to remove the title of ‘Prince’ from Prince Andrew. It has also served notice on his lease at Royal Lodge, Windsor. Andrew’s children, Princesses Beatrice and Eugenie, retain their titles.

 

The Mighty Calendar

 

What’s happening today?

 

  • House of Lords debate on Ukraine

  • China manufacturing data (October) – PMI growth expected at 50.2

  • Eurozone CPI inflation data (October) – set to fall from 2.4% to 2.3%

  • Company results from: ExxonMobil, Chevron, Audi, Colgate-Palmolive

 

Lookahead to the weekend

 

Saturday

  • Barack Obama speaks at Democrat rallies in New Jersey and Virginia

  • Rugby autumn internationals: England vs Australia

  • Rugby autumn internationals: Scotland vs USA

 

Sunday

  • London to Brighton Veteran Car Run

  • Women’s Cricket World Cup final

  • Rolex Paris Tennis Masters men’s final

  • New York Marathon

 

The Mighty Finale

 

🌤️Weather today

 

Light rain across most of England from late morning onwards. Heavy rain all day in the southwest. High of 16C and low of 13C in London. Light rain in Belfast and Edinburgh too.

 

✏️Life coaching quote of the day

 

“Forgiveness is not an occasional act, it is a constant attitude.” – Martin, Luther King Jr.

 

Mighty takeaway: Don’t just think of this in terms of forgiving other people. You must remember to be kind and to forgive yourself as well.

 

That’s it for this morning. Thanks for reading and we hope that you enjoy the weekend.

 

Cheerio!

 

The Mighty Memo team

 

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Wednesday 29 October 2025