Friday 7 November 2025
*For UK readers, there is a two-minute silence at 11.00am on Sunday for Remembrance Sunday.*
The Mighty Headlines
Economics: Bank of England keeps interest rates at 4 per cent
Business and markets: AI and tech stocks continue to fall
Foreign Affairs: Legendary “Florentine” diamond reappears after 100 years
Security and intelligence: Israel strikes southern Lebanon
Domestic politics: UK Labour Deputy Leader issues warning on manifesto
The Mighty Stats
FTSE = 9,735.78 (down 0.42%)
S&P 500 = 6,720.32 (down 1.12%)
Nasdaq = 23,053.99 (down 1.9%)
CAC40 = 7,964.77 (down 1.36%)
£1 = $1.31 / €1.14
Lab / Con / Reform = 15 / 16 / 33 per cent (Find Out Now, 5-6 November)
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The Mighty Detail
Economics: The Bank of England held interest rates at 4 per cent yesterday. The Bank’s Monetary Policy Committee voted 5-4 in favour of maintaining the rate at 4 per cent. The four dissenters voted for a 25 basis point cut. Given the closeness of the vote, some commentators suggest a rate cut could come as soon as December.
Business and markets: AI and tech stocks continued their decline yesterday, with lingering concerns about their overly optimistic valuations.
Semiconductor maker Qualcomm lost 3 per cent, while Oracle and Palantir lost 2 per cent and 6 per cent respectively.
In contrast, American Express stock is trading at its highest level since it was first listed on the stock market in 1977.
Foreign Affairs: The legendary Florentine diamond – a 137-carat yellow jewel – has reappeared over 100 years after its disappearance. The diamond had been kept hidden in a Canadian bank vault by Austro-Hungary’s imperial Habsburg family.
The diamond’s location was passed from the late Empress Zita to her two sons and then, before their death, to their own sons.
The diamond is likely to have once belonged to the Medici family.
Security and intelligence: Israel launched strikes on southern Lebanon yesterday. They come a year after a US-brokered ceasefire between Lebanon and Israeli. The Israeli military stated that Iranian-backed Hezbollah was seeking to rebuild its military capabilities in the region.
Domestic politics: The new Deputy Leader of the UK Labour Party, Lucy Powell has said that the Party should keep its manifesto commitments not to raise income tax, VAT or national insurance. The move is considered to be adding pressure to Chancellor Rachel Reeves. Powell also suggested that the two child-benefit cap should be lifted.
The Mighty Calendar
What’s happening today?
Lady Mayor of the City of London takes office
President Trump hosts Hungary’s Prime Minister Orban at the White House
Former President Biden gives speech at event in Nebraska
Bob Dylan begins UK tour
Nominees for the Grammy awards announced
Company results from: Honda, International Airlines Group
Lookahead to the weekend
Saturday
Lady Mayor’s Show, City of London (and free entry to St Paul’s Cathedral)
Princess Anne visits Australia
Rugby autumn internationals: England vs Fiji (Twickenham)
Rugby autumn internationals: Scotland vs New Zealand (Murrayfield)
Sunday
Remembrance Sunday
Rugby autumn internationals: Wales vs Argentina (Cardiff)
F1 Brazilian Grand Prix
The Mighty Finale
🌤️Weather today
Light rain across most of England. Thundery showers in the southwest. High of 15C and low of 9C in London. Light rain in Belfast. Dry in Edinburgh.
✏️Life coaching quote of the day
“Think thoughts that make you happy. Do things that make you feel good. Be with people who make you feel good. Eat things that make your body feel good. Go at a pace that makes you feel good.” – Louise Hay, motivational speaker
Mighty takeaway: Why don’t we do more of this? It’s simple. Don’t accept being unhappy or dissatisfied. Don’t put up barriers to your happiness. Enjoy your life!
That’s it for this morning and for this week. Thanks for reading and we very much hope you enjoy the weekend, wherever you are and whatever you are doing.
Adios!
The Mighty Memo team
*To read the Mighty Memo manifesto and learn about why we do this visit: https://www.mightymemo.co.uk/why*