Friday 6 June 2025
The Mighty Headlines
Economics: European Central Bank cuts interest rates to 2 per cent
Business and markets: Tesla shares fall by over 14 per cent
Foreign Affairs: Syria lets in UN nuclear inspectors
Security and intelligence: US vetoes UN resolution on Gaza
Domestic politics: Reform UK Chair resigns
The Mighty Stats
FTSE = 8,811.04 (up 0.11%)
S&P 500 = 5,939.30 (down 0.53%)
Nasdaq = 19,298.45 (down 0.83%)
CAC40 = 7,790.27 (down 0.18%)
£1 = $1.36 / €1.19
*If you’ve been forwarded the Mighty Memo, subscribe for free at www.mightymemo.co.uk. You’ll receive the Mighty Memo directly in your inbox as soon as it’s published!*
The Mighty Detail
Economics: The European Central Bank has cut interest rates to 2 per cent. It marks the eighth cut in a year and comes off the back of slowing economic growth resulting from US tariffs. The Bank also added, however, that increased defence and infrastructure spending in the EU would increase economic growth in the medium term.
Business and markets: Shares in Tesla fell by over 14 per cent during trading yesterday, taking $153 billion of the company’s value. It comes as CEO Elon Musk criticised the Trump administration’s tax and spending reductions and President Trump threatened to end Musk’s government contracts.
Foreign Affairs: The new Syrian Government is to give immediate access to its former nuclear sites to inspectors from International Atomic Energy Agency (IAEA). The UN agency will seek to provide a definitive view on whether the previous Syrian regime had been developing nuclear weapons. The IAEA praised the Syrian Government’s international cooperation.
Security and intelligence: The US has vetoed a UN Security Council resolution seeking an “immediate, unconditional and permanent ceasefire” in Gaza. The other 14 countries on the Council, including permanent members Russia, China, Britain and France, voted in favour. The US said the resolution drew a “false equivalence between Israel and Hamas”.
Domestic politics: The Chair of Reform UK, Zia Yusuf, has resigned stating that helping a Reform UK Government to be elected was no longer a “good use of my time”. It comes after Yusuf criticised the Party’s newest MP, Sarah Pichon, after she asked the Prime Minister whether he would support a ban on women wearing the burka.
The Mighty Calendar
What’s happening today?
Singapore public holiday (Eid al-Adha)
Court hearing for three Iranians charged under UK National Security Act
Google annual shareholders’ meeting
UK Parliament in recess
Eurozone GDP data (Q1 2025)
Canada and US unemployment rate (May)
Lookahead to the weekend
Saturday
England vs Andorra in World Cup 2026 qualifier
Roland Garros women’s singles final
Derby Day, Epsom Downs
Sunday
Axiom Mission 4 launch to International Space Station expected
UEFA Nations League final
Roland Garros men’s singles final
Tony Awards
The Mighty Finale
🌤️Weather today
Rain for most areas. Drier later in the day. High of 19C and low of 12C. Thundery showers in Belfast. Light rain in Edinburgh.
✏️Life coaching quote of the day
“Let us learn to show our friendship for a man when he is alive and not after he is dead.” – F. Scott Fitzgerald, author
Mighty takeaway: Don’t take your family or friendships for granted.
That’s it for this morning and for this weekend.
Adios!
The Mighty Memo team