Monday 14 July 2025
The Mighty Headlines
Economics: US to impose 30% tariffs on the EU
Business and markets: Google agrees $2.4 billion AI deal
Foreign Affairs: Netherlands rations electricity
Security and intelligence: France boosts defence by €3.5 billion in 2026
Domestic politics: UK Chancellor pledges Thatcher-esque “Big Bang”
The Mighty Stats
FTSE = 8,941.12 (down 0.38%)
S&P 500 = 6,259.75 (down 0.33%)
Nasdaq = 22,780.60 (down 0.21%)
CAC40 = 7,829.29 (down 0.92%)
£1 = $1.35 / €1.15
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The Mighty Detail
Economics: President Trump has said that he would impose 30 per cent tariffs on the EU from the 1st August after trade talks stalled. The European Commission has said that it would continue working to reach a deal with the US by the 1st August. President Trump also said that he would impose 35 per cent tariffs on Canadian goods and 30 per cent tariffs on Mexican goods from 1st August.
Business and markets: Google has reached a $2.4 billion deal with the AI computer coding company Windsurf. Google will have a non-exclusive licence for certain Windsurf technology and it will hire senior Windsurf employees. It comes after OpenAI was in talks to buy Windsurf earlier this year for $3 billion.
Foreign Affairs: There are reports that the Netherlands is rationing electricity to ease the stress on its power grid. More than 11,900 businesses are waiting for electricity network connections in the Netherlands. It comes after increases in power demand and the Netherlands’ move away from gas power in 2022.
Security and intelligence: French President Emmanuel Macron announced plans yesterday to increase defence spending by €3.5 billion in 2026 and by €3 billion in 2027. France will aim to spend €64 billion on defence in 2027, which is double the €32 billion it spent when Macron came into office in 2017. President Macron said on Sunday that “To be free in this world we must be feared. To be feared we must be powerful”.
Domestic politics: The UK Chancellor, Rachel Reeves, will pledge to create a Thatcher-esque “Big Bang” to reduce business regulation and encourage investment in the UK. The news comes ahead of Reeves’s Mansion House speech on Tuesday.
The Mighty Calendar
What’s happening today?
President Trump expected to make “major announcement” on Russia
China hosts meeting of Shanghai Cooperation Council
China GDP data (Q2 2025)
China retail sales, industrial production, unemployment data (June)
Lookahead to tomorrow
UK Chancellor delivers Mansion House speech
President Trump addresses Pennsylvania Energy and Innovation Summit
EU industrial production data (May)
US CPI inflation data (June)
Company results from: Citigroup, Wells Fargo, Blackrock, JPMorgan Chase, BNY Mellon, Barratt Developments, Ericsson
The Mighty Finale
🌤️Weather today
Sunny spells in the south of England. Thundery showers in the north. High of 27C and low of 14C in London. Light rain in Belfast. Thundery showers in Edinburgh.
✏️Life coaching quote of the day
“I’m a very positive thinker, and I think that is what helps me the most in difficult moments.” – Roger Federer, 20 times Grand Slam singles tennis champion
Mighty takeaway: Always try to keep a positive mindset.
That’s it for this Monday morning. Thanks for reading and we hope that you have a good start to the week.
Bye!
The Mighty Memo team