Monday 2 March 2026

Written By Mighty Memo

The Mighty Headlines

 

Economics: Oil prices to rise after danger in Strait of Hormuz

 

Business and markets: Fintech firm Block to cut 4,000 jobs because of AI

 

Foreign Affairs: What happens to leadership in Iran?

 

Security and intelligence: Pakistan-Afghanistan conflict intensifies

 

Domestic politics: MPs debate extending the vote to 16 and 17 year olds

 

The Mighty Stats

 

FTSE = 10,910.55 (up 0.59%)

S&P 500 = 6,878.88 (down 0.43%)

Nasdaq = 22,668.21 (down 0.92%)

Stoxx 600 = 633.85 (up 0.11%)

 

£1 = $1.35 / €1.14

 

Lab / Con / Reform = 18 / 18 / 30 per cent (Opinium, 25-27 February)

 

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The Mighty Detail

 

Economics: Oil prices are set to rise as shipowners pause sailings through the strategically important Strait of Hormuz (off Iran’s southern coast). Iran attacked three oil tankers yesterday and the US has declared a maritime warning zone.

  • Around 20 per cent of the world’s oil and liquified natural gas supplies pass through the Strait each day.

 

Business and markets: Block, a financial technology firm, is to cut nearly 4,000 jobs or around 50 per cent of its workforce. Block’s CEO, Jack Dorsey (who previously founded Twitter), indicated that AI will allow the company to work with “smaller and smarter” teams.

Block owns mobile payment company CashApp, as well as Tidal and Square.

 

Foreign Affairs: Following US and Israeli strikes on Iran and the death of Iran’s Supreme Leader, Ayatollah Ali Khamenei, who is leading Iran? Technically, the process should be as follows but events are developing quickly:

  • Iran’s President, the head of the judiciary and a member of the Guardian Council are leading the country on an interim basis.

  • The “Assembly of Experts” (an 88-strong committee of Islamic clerics) are to appoint a new Supreme Leader (with one or two days)

  • The head of the Supreme National Security Council, Ali Larijani, may continue to lead on defence issues.

  • President Trump has urged the Iranian people to take control but former CIA Director and US Army General, David Petraeus, says that there is no alternative opposition figure waiting to take power in Iran.

 

Security and intelligence: The conflict between Pakistan and Afghanistan intensified yesterday, with Afghan forces firing at Pakistani jets over Kabul. Pakistan hit facilities in Afghanistan last week, accusing its neighbour of hosting Tehreek-e-Taliban Pakistan militants (i.e. the Pakistan Taliban).

 

Domestic politics: UK MPs will today debate the legislation extending the right to vote to 16- and 17-year-olds. Extending the franchise was a manifesto commitment from the Labour Party. The Liberal Democrats support the change. The Conservative Party and Reform UK oppose the move.

 

The Mighty Calendar

 

What’s happening today?

 

  • South Korea public holiday (Independence Movement Day)

  • Melania Trump chairs UN Security Council meeting on education

  • Education Questions in UK House of Commons

  • MPs debate bill extending the vote to 16 and 17 year olds

  • Company results from: Bank of Ireland, Smith & Nephew

 

Lookahead to tomorrow

 

  • Total lunar eclipse (visible in the Americas, Asia and Australia)

  • President Trump hosts Germany’s Chancellor Merz at the White House

  • US midterm primaries begin in Texas, North Carolina and Arkansas

  • UK Chancellor delivers Spring Statement 2026

  • Foreign Office Questions in UK House of Commons

  • Company results from: ASM International, CrowdStrike, Target

 

The Mighty Finale

 

🌤️Weather today

 

A sunny, dry day in the east of England. Light rain in the west. High of 15C and low of 6C in London. Light cloud (but dry) in Belfast and Edinburgh.

 

✏️Life coaching quote of the day

 

“What starts as an excuse can easily become a habit. Don't let a bad day become a lifestyle.” – James Clear, writer

 

Mighty takeaway: Cultivate the right habits!

 

And finally, here is a witty quote we came across at Mighty Memo HQ and found amusing. It is attributed to Samuel Johnson who was assessing the merits of a book. We hope you find it amusing too:

 

“My congratulations to you, sir. Your manuscript is both good and original; but the part that is good is not original, and the part that is original is not good.”

 

That’s it for this morning! Thanks for reading and we hope you have an excellent start to the week.

 

Adios!

The Mighty Memo team

 

*To read the Mighty Memo manifesto and learn about why we do this visit: https://www.mightymemo.co.uk/why*

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Friday 27 February 2026