Monday 28 July 2025
The Mighty Headlines
Economics: US and EU agree trade deal
Business and markets: Facebook hires ChatGPT’s co-creator
Foreign Affairs: Bid to oust pro-China lawmakers in Taiwan fails
Security and intelligence: Trump organises Thailand-Cambodia ceasefire
Domestic politics: Starmer meets Trump in Scotland today
The Mighty Stats
FTSE = 9,120.31 (down 0.2%)
S&P 500 = 6,388.64 (up 0.4%)
Nasdaq = 21,108.32 (up 0.24%)
CAC40 = 7,834.58 (up 0.21%)
£1 = $1.34 / €1.14
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The Mighty Detail
Economics: The US and the EU have agreed a trade deal which will see a 15 per cent tariffs on EU goods entering the US. This will be a reduction from the 30 per cent tariffs the EU faces at the moment. A 50 per cent tariff on steel and aluminium, which the US has applied globally, will remain.
Business and markets: Facebook has hired Shengjia Zhao, the co-creator of OpenAI’s ChatGPT, to serve as its chief scientist at Meta Superintelligence Labs. Facebook is trying to advance its AI research and recently made a $14 billion investment in AI development company, Scale AI.
Foreign Affairs: A move in Taiwan to unseat lawmakers from the China-friendly KMT party has failed. The recall motions, which were held yesterday, were backed by the ruling pro-Taiwan Democratic Progressive Party (DPP). The DPP won the presidency last year but does not have a majority in Parliament.
Security and intelligence: Thailand and Cambodia have agreed to meet to negotiate a ceasefire, following days of fighting last week which killed 32 people and displaced over 200,000. It comes after President Trump spoke to leaders of both countries and said he would not agree a trade deal with them if they continued fighting.
Domestic politics: The UK Prime Minister is meeting President Trump in Scotland today. The Prime Minister’s office said that the pair would discuss the UK-US trade deal, the situation in Gaza and the war in Ukraine.
The Mighty Calendar
What’s happening today?
Sir Keir Starmer expected to meet President Trump in Scotland
UN Conference on Palestine
US and China hold trade talks in Sweden
Company results from: Audi, Heineken
Lookahead to tomorrow
President Trumps ends Scottish holiday
IMF publishes update to its World Economic Outlook
Company results from: Barclays, Boeing, Spotify, AstraZeneca, Stellantis, Starbucks
The Mighty Finale
🌤️Weather today
Sunny spells across the UK. High of 24C and low of 13C in London.
✏️Life coaching quote of the day
“Remember not only to say the right thing in the right place, but far more difficult still, to leave unsaid the wrong thing at the tempting moment.” – Benjamin Franklin, statesman and writer
Mighty takeaway: Nothing further to add to this!
That’s it for this Monday morning. We hope you enjoy the start to your week.
Adios!
The Mighty Memo team