Friday 9 May 2025
The Mighty Headlines
Economics: President Trump predicts “substantive” China trade talks
Business: Next increases profit forecast for 2025
Markets: US stocks rise after US-UK trade deal reached
Foreign Affairs: Russia and China pledge to stand together against the US
Security and intelligence: North Korea launches ballistic missiles
Domestic politics: UK Government to give UK firms new migration rules
The Mighty Stats
FTSE = 8,531.61 (down 0.32%)
S&P 500 = 5,663.94 (up 0.58%)
Nasdaq = 17,928.14 (up 1.07%)
CAC40 = 7,694.44 (up 0.89%)
£1 = $1.33 / €1.18
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The Mighty Detail
Economics: President Trump has said that trade negotiations with China this weekend could be “substantive”. He suggested that 145 per cent tariffs on many Chinese goods could be lowered and that the US would “have a very good relationship” with China. The talks start in Switzerland today and end on Monday.
Business: Next has increased its profit forecast this year after better-than-expected spring sales. The high street retailer said that sales increase at the start of this year came to £55 million, with the warm weather leading to early sales of summer clothing. It expects profits before tax to reach £1.08 billion in 2025. It also warned, however, that UK tax increases could affect future sales.
Markets: The US stock markets rose yesterday following the news that a trade deal had been reached with the UK. The deal removes tariffs on British steel and aluminium, lowers tariffs on cars, provides for “reciprocal markets access on beef” but keeps a 10 per cent tariff on most other UK goods.
Foreign Affairs: President Putin and President Xi pledged yesterday to stand together against the “dual containment’ of Russia and China by the United States. In a veiled reference to the US, the two leaders also said they should be “true friends of steel” and would counter “unilateralism and bullying”. They added that they would deepen relationships in all areas, including military relationships.
Security and intelligence: North Korea launched a number of ballistic missiles at around 8.10am local time yesterday. The missiles travelled around 500 miles before landing into the sea. It is thought that North Korea may have been testing the missiles prior to exporting them. North Korean missiles have reportedly been used by Russia against Ukraine.
Domestic politics: The UK Government could require UK firms to train UK staff if they wish to hire staff from overseas. The Government’s immigration white paper is due to be published in the coming weeks and will seek to reduce net migration in the UK. Around 728,000 net migrants arrived in the UK in the year to June 2024.
The Mighty Calendar
What’s happening today?
President Macron and President Tusk expected to sign security deal
President Putin and President Xi attend VE Day parade in Moscow, Russia
Joint Expeditionary Force Leaders’ Summit, Oslo, Norway
European Foreign Ministers meeting, Kyiv, Ukraine
Giro d’Italia (cycling) begins
UK industrial and manufacturing data (March)
Canada employment data (April)
China trade data (April)
China CPI inflation data (April)
Company results from: International Airlines Group, Panasonic, Nippon Steel, Commerzbank
Lookahead to the weekend
Saturday
Russia’s Ukraine ceasefire officially expected to end
Ice Hockey World Championships begin, Czech Republic
World Athletics Relays begin, China
Sunday
Parliamentary elections in Albania
The Lord Mayor's Hot Air Balloon Regatta 2025 (weather dependent)
BAFTA TV awards
The Mighty Finale
🌤️Weather today
Mostly sunny across the UK but a bit of cloud in southwest England and in Scotland. High of 19C and low of 8C in London.
✏️Life coaching quote of the day
“Our entire life consists ultimately in accepting ourselves as we are.” – Jean Anouilh, French dramatist
Mighty takeaway: Accept yourself and your “imperfections”. It’s the only way to be happy.
That’s it for this week. Thanks for reading and we’ll see you next week.
Bye!
The Mighty Memo team