Monday 23 June 2025
The Mighty Headlines
Economics: Food inflation threatens UK interest rates
Business and markets: UK top destination for European mergers in 2025
Foreign Affairs: Iran’s Foreign Minister in talks with Putin today
Security and intelligence: NATO members to spend 5% of GDP on defence
Domestic politics: Reform UK tops poll on 34%, ahead of Labour Party
The Mighty Stats
FTSE = 8,774.65 (down 0.2%)
S&P 500 = 5,967.84 (down 0.22%)
Nasdaq = 19,447.41 (down 0.51%)
CAC40 = 7,589.66 (up 0.48%)
£1 = $1.35 / €1.17
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The Mighty Detail
Economics: There are concerns that the increasing price of food in the UK could slow the rate at which the Bank of England cuts interest rates. The price of butter, beef and chocolate rose by nearly 20 per cent last month. This is attributed partly to increases in national insurance, the minimum wage and the cost of packaging. The Bank of England kept interest rates at 4.25 per cent last week.
Business and markets: The UK was the number one place in Europe for mergers and acquisitions in the first six months of 2025. According to a report by law firm White & Case, a total of 1,207 transactions worth £87.7 billion were done in the first half of the year.
Foreign Affairs: Iran’s Islamic Revolutionary Guard has said that “war starts right now” after the US bombed three Iranian nuclear sites early on Sunday. Iran’s Foreign Minister, Abbas Araghchi, will travel to Russia today to discuss the situation with President Putin. He has said that the US has crossed “a very big red line.”
Security and intelligence: NATO members yesterday agreed in principle to increase defence spending to 5% of GDP by 2035. The agreement will become official when NATO leaders, including President Trump, sign the deal on Wednesday. Spain is the only member to opt out of the deal, saying that it would meet its commitments without the need to meet the spending target.
Domestic politics: A new opinion poll has put Reform UK on 34 per cent. This is nine points ahead of the Labour Party on 25 per cent and nearly twenty points ahead of the Conservative Party on 15 per cent.
The Mighty Calendar
What’s happening today?
UK Industrial Strategy and National Security Strategy published
Reform UK’s Nigel Farage holds press conference at 9.00am, London
UK, Eurozone services and manufacturing growth data (May)
US services and manufacturing growth data (June)
Lookahead to tomorrow
UK Prime Minister attends NATO summit, The Hague
US Federal Reserve chair testifies before the Joint Economic Committee, Washington DC
Canada CPI inflation data (May)
The Mighty Finale
🌤️Weather today
Patchy sun in England. High of 23C and low of 14C in London. Patchy sun in Belfast and Edinburgh too.
✏️Life coaching quote of the day
“You are the only person who thinks in your mind! You are the power and authority in your world.” – Louise Hay, motivational writer
Mighty takeaway: Change your thoughts and you can change your life!
That’s it for this Monday morning. Thanks for reading and we’ll see you again on Wednesday.
Bye!
The Mighty Memo team