Friday 5 September 2025
*On Sunday 7 September at 3.00pm, the UK Government will carry out a National Emergency Alert test. Most mobile telephones and tablets will receive a message which will be accompanied by a vibration and siren-like sound. Further details are available here.*
The Mighty Headlines
Economics: UK companies cut jobs at fastest rate since 2021
Business and markets: Paramount orders 5 days a week in the office
Foreign Affairs: Nepal blocks access to social media sites
Security and intelligence: US to cut military aid to Eastern Europe
Domestic politics: UK PM refuses to comment on Rayner’s departure
The Mighty Stats
FTSE = 9,216.87 (up 0.42%)
S&P 500 = 6,502.08 (up 0.83%)
Nasdaq = 21,707.69 (up 0.98%)
CAC40 = 7,698.92 (down 0.27%)
£1 = $1.34 / €1.15
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The Mighty Detail
Economics: UK companies are cutting jobs at their fastest rate since 2021. According to a Bank of England survey, UK businesses cut jobs by an annual rate of 0.5 per cent in the three months to August. Around half of the businesses surveyed blamed pressure from higher national insurance contributions.
Business and markets: Paramount will require employees to be in the office five days a week from January 2026. Employees who do not wish to do so will receive a severance package. Paramount was bought by Skydance in August and is looking to cut between 2,000 and 3,000 jobs and make $2 billion of savings.
Foreign Affairs: The Nepalese Government will block access to social media companies including Facebook, Youtube, X and LinkedIn. It comes after the social media companies failed to register with Nepalese authorities and to name a local contact and grievance handler. The Nepalese Government says it is concerned about cybercrime and the spread of hate and rumours on social media.
Security and intelligence: The US is set to cut its military assistance to Eastern Europe. The “Section 333” programme currently helps to train and equip the armies of countries on Russia’s border. Section 333 funding provided $1.6 billion to Europe between 2018 and 2022 but the current programme will end in 2026.
Domestic politics: The UK Prime Minister has refused to say whether he will sack the Deputy Prime Minister and Housing Secretary, Angela Rayner, if she is found to have broken the ministerial code over her tax affairs. A report by the Independent Adviser on Ministerial Standards is expected within the next few days.
The Mighty Calendar
What’s happening today?
Reform UK party conference begins, Birmingham
UK house price data (August)
UK retail sales data (August)
US employment data (August)
EU GDP data (Q2 2025)
Lookahead to tomorrow
Saturday
US Open Tennis women’s final
England versus Andorra (football World Cup qualifier)
Classic Boat Festival, St Katherine Docks, London
Sunday
National Emergency Alert test (UK)
US Open Tennis men’s final
London Underground strike begins
F1 Italian Grand Prix
The Mighty Finale
🌤️Weather today
Sunny spells across the UK and little rain. High of 21C and low of 11C in London.
✏️Life coaching quote of the day
“There is nothing more dreadful than the habit of doubt. Doubt separates people. It is a poison that disintegrates friendships and breaks up pleasant relations. It is a thorn that irritates and hurts; it is a sword that kills.” – Buddha
Mighty takeaway: Believe in yourself, your goals and your future.
That’s it for this morning and for this week. Thanks for reading and we hope you have a good weekend.
Cheerio!
The Mighty Memo team