Friday 9 January 2026
The Mighty Headlines
Economics: US Supreme Court may rule on legality of tariffs today
Business and markets: Shares in UK retailers fall after poor Christmas sales
Foreign Affairs: French and German Presidents rebuke US administration
Security and intelligence: Syrian Government forces fight Kurds in Aleppo
Domestic politics: UK Government to change course on pub rates
The Mighty Stats
FTSE = 10,044.69 (down 0.035%)
S&P 500 = 6,921.46 (up 0.0077%)
Nasdaq = 23,480.02 (down 0.44%)
Stoxx 600 = 603.83 (down 0.19%)
£1 = $1.34 / €1.15
Lab / Con / Reform = 19 / 23 / 31 per cent (More in Common, 2-5 January)
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The Mighty Detail
Economics: The US Supreme Court may rule on the legality of the Trump administration’s tariffs today. The decision will have implications for US trade policy, US tax revenues (the government may have to pay money back) and is seen by some as a test of the court’s independence from the current US administration.
Business and markets: The share prices of large UK retailers fell yesterday after news of weak sales over Christmas. Shares in Associated British Foods (AB), the owner of Primark, fell by over 13 per cent. Tesco’s shares fell by over 6 per cent, while shares in Greggs fell by over 7 per cent.
Foreign Affairs: In an usual move, the Presidents of France and Germany have both strongly criticised US foreign policy, alluding to Venezuela and Greenland.
President Macron said that the US was “breaking free” from international rules, while Germany’s President Steinmeier accused the US of an “epochal rupture”.
President Trump, meanwhile, indicated yesterday that the US could oversee Venezuela indefinitely.
Security and intelligence: Fighting between Syrian government forces and Kurdish fighters continued in Aleppo for a third day yesterday.
The Kurds established a semi-autonomous government in northeast Syria during the Syrian Civil War (2011 to 2024) and are resisting integration into Syria’s new government.
Domestic politics: The UK Government is expected to change its policy on business rates for pubs. The change will mean pubs face a smaller increase to their tax bills. It is not clear if other hospitality venues will also benefit.
The Mighty Calendar
What’s happening today?
House of Lords continue to debate Assisted Dying Bill
Russia, Iran and China begin naval exercises in South Africa (ends 16 January)
EU member states vote on South America ‘Mercosur’ trade deal
EU retail sales data (Dec) – growth expected to rise from 1.5% to 1.6%
US unemployment rate (Dec) – set to fall from 4.6% to 4.5%
Company results from: Alfa Financial Software, Unite Group
Lookahead to the weekend
Saturday
80th anniversary of the first UN General Assembly
World Athletics Cross Country Championships, Florida, US
Sunday
Annual blessing of the River Thames, London Bridge, London (12.00pm)
Masters Snooker 2026, Alexandra Palace, London (ends 18 January)
Elections in Burma (second phase)
The Mighty Finale
🌤️Weather today
Rain across England. High of 5C and low of 2C in London. Mostly dry in Belfast. Sleet in Edinburgh.
✏️Life coaching quote of the day
“You must live in the present, launch yourself on every wave, find your eternity in each moment. Fools stand on their island of opportunities and look toward another land. There is no other land; there is no other life but this.” – David Thoreau, American philosopher
Mighty takeaway: Don’t let life pass you by. Take action to live the life you want.
That’s it for this Friday and for this week. We hope that you enjoy the weekend!
Cheerio!
The Mighty Memo team
*To read the Mighty Memo manifesto and learn about why we do this visit: https://www.mightymemo.co.uk/why*