Monday 13 October 2025
The Mighty Headlines
Economics: UK household debt at lowest level since 2002
Business and markets: Trump puts 100% tariffs on China
Foreign Affairs: Afghanistan kills 58 Pakistani soldiers in border clash
Security and intelligence: North Korea unveils new “most powerful” missile
Domestic politics: UK Treasury explores tax rises for those on higher incomes
The Mighty Stats
FTSE = 9,427.47 (down 0.86%)
S&P 500 = 6,552.51 (down 2.71%)
Nasdaq = 22,204.43 (down 3.56%)
CAC40 = 7,918.00 (down 1.53%)
£1 = $1.34 / €1.15
Lab / Con / Reform = 22 / 18 / 32 per cent
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The Mighty Detail
Economics: Household debt in the UK is at its lowest level since 2002. Debt as a share of household income now stands at just over 117 per cent. It follows a period of spending restraint by UK consumers, which has affected economic growth in the UK.
Business and markets: President Trump has announced additional 100 per cent tariffs on China and exports controls on critical software from the 1st November. It comes after China announced restrictions on rare earth exports, added new port fees on US ships and started a trade investigation into US tech giant Qualcomm.
Foreign Affairs: Afghan forces reportedly killed 58 Pakistani soldiers on Sunday during border clashes. The Pakistan army said that it had “neutralised” more than 200 “Taliban and affiliated terrorists”. Pakistan accuses Afghanistan of harbouring the banned group Tehreek-e-Taliban, which it says carries out attacks in Pakistan.
Security and intelligence: North Korea unveiled a new intercontinental ballistic missile, the Hwasong-20, at a parade in Pyongyang on Friday.
North Korea described it as the “most powerful nuclear strategic weapons system”.
The missile could, however, only be a mock-up because test flights for it have not yet been announced.
Domestic politics: There are reports that the UK Treasury is exploring tax rises for those on higher incomes ahead of the Budget in November. Treasury sources suggests that the Chancellor “would be fair” when asking people to pay more tax. This could mean higher taxes on investments, property and inheritance.
The Mighty Calendar
What’s happening today?
Israeli hostages expected to be released
President Trump due to address Israeli Knesset (Parliament)
Prime Minister Starmer and President Macron in Egypt for signing of the Israel-Gaza peace plan
Nobel Prize for Economics announced
UK Parliament returns with Housing and Communities Questions
China trade data (September) – exports expected to increase 5.2%
Lookahead to tomorrow
World Cup Qualifier: England vs Latvia
Energy Questions in UK Parliament
UK Defence Secretary co-chairs Ukraine meeting in Brussels
UK unemployment rate (August) – expected to stay at 4.7%
Company results from: Wells Fargo, Goldman Sachs, JPMorgan, BlackRock, Citigroup, Johnson & Johnson, Ericsson
The Mighty Finale
🌤️Weather today
Light cloud over most of England but sunny spells in the southwest. High of 17C and low of 12C in London. Sunny spells in Belfast and Edinburgh.
✏️Life coaching quote of the day
“Thoughts are just what is. They appear. They’re innocent. They’re not personal. They’re like the breeze or the leaves on the trees or the raindrops falling.” – Byron Katie, writer
Mighty takeaway: Thoughts are nothing. They only gain meaning because of the way you react to them. How can you react to your thoughts to make yourself happier?
That’s it for this Monday morning. Thanks for reading and we hope you have a good start to the week.
Adios!
The Mighty Memo team
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