Monday 18 August 2025
The Mighty Headlines
Economics: Italians now as wealthy as Britons
Business and markets: Waterstones opens more shops because of demand
Foreign Affairs: Singapore toughens stance on vaping with jail time
Security and intelligence: Trump says China won't invade Taiwan
Domestic politics: Starmer joins Zelensky at White House today
The Mighty Stats
FTSE = 9,138.90 (down 0.42%)
S&P 500 = 6,449.80 (down 0.29%)
Nasdaq = 21,622.98 (down 0.4%)
CAC40 = 7,923.45 (down 0.67%)
£1 = $1.36 / €1.16
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The Mighty Detail
Economics: Italians are as well off as Britons according to recent data from the International Monetary Fund. Italy has a history of economic stagnation but both countries now have a GDP per head of around £44,000.
The news is thought to be linked to the UK’s decline – a result of high population growth, high inflation and low growth – and somewhat improved performance in Italy.
Business and markets: Waterstones is opening 10 bookshops a year as young adults turn away from screens towards books. CEO James Daunt says that revenues have increased by 5 per cent, partly down to higher prices, TikTok book recommendations and book clubs.
Foreign Affairs: Singapore is to treat vaping as a drug issue, with those selling it liable to be put in jail. Prime Minister Wong said yesterday that he was concerned about harmful substances such etomidate inside vapes and the potential for more dangerous substances to be included in vapes in the future.
Security and intelligence: President Trump has said that China will not invade Taiwan while he is president. Trump explained that Xi gave him the reassurance but added that “China is very patient”. The Chinese Embassy in Washington DC said that Taiwan was the “most important and sensitive issue” in US-China relations.
Domestic politics: Sir Keir Starmer will join President Zelensky in Washington DC at a meeting with President Trump today.
Other European leaders travelling to Washington include France’s President Macron, Germany’s Chancellor Merz, the European Commission’s President von der Leyen and Nato’s Secretary-General Rutte.
The US and Russia reportedly agreed security guarantees for Ukraine on Friday.
The Mighty Calendar
What’s happening today?
President Zelenksy and European leaders to visit President Trump
Chinese Foreign Minister expected to visit India
Lookahead to tomorrow
Edinburgh International Television Festival begins
Annual weigh-ins at London Zoo and Whipsnade Zoo
Canada CPI inflation data (July)
Japan trade data (July)
Company results from: Home Depot, BHP Group
The Mighty Finale
🌤️Weather today
Light rain in the southwest of England. Sunny spells and cloud elsewhere. High of 23C and low of 14C in London. Sunny spells in Belfast and Edinburgh.
✏️Life coaching quote of the day
“Strangely, life gets harder when you try to make it easy.
Exercising might be hard, but never moving makes life harder.
Mastering your craft is hard, but having no skills is harder.
Uncomfortable conversations are hard, but avoiding every conflict is harder.
Easy has a cost.” – James Clear, writer
Mighty takeaway: Every decision in life has a cost, even if it’s not immediately obvious.
That’s it for this morning. Thanks for reading and we hope you have a good start to the week.
Bye!
The Mighty Memo team