Monday 5 January 2026
The Mighty Headlines
Economics: OPEC+ pauses oil supply increase
Business and markets: China’s BYD overtakes Tesla in electric car sales
Foreign Affairs: Maduro in Manhattan court today
Security and intelligence: North Korea launches ballistic missiles
Domestic politics: UK’s Starmer suggests closer ties to EU single market
The Mighty Stats
FTSE 100 = 9,951.14 (up 0.2%)
S&P 500 = 6,858.47 (up 0.19%)
Nasdaq = 23,235.63 (down 0.027%)
Stoxx 600 = 596.14 (up 0.67%)
£1 = $1.35 / €1.15
Lab / Con / Reform = 14 / 18 / 30 per cent (More in Common, 24 Dec 2025)
Polls this time last year = 30 / 23 / 22 (Deltapoll, 30 Dec 2024 – 3 Jan 2025)
*If you’ve been forwarded the Mighty Memo, subscribe for free at www.mightymemo.co.uk. You’ll receive the Mighty Memo directly in your inbox as soon as it’s published!*
The Mighty Detail
Economics: OPEC+ has said that it will pause increases in oil supply this quarter as the market faces a surplus in production. Brent crude oil futures fell by 18 per cent in 2025 to around $61 per barrel. Crude oil prices are close to their lowest level in four years.
Business and markets: China’s BYD has overtaken Tesla as the world’s biggest seller of electric cars. BYD sold 2.26 million vehicles in 2025 – a 28 per cent rise on 2024. Sales at Tesla, by contrast, fell by 8 per cent to 1.64 million vehicles.
Foreign Affairs: Venezuela’s President Maduro will attend a federal court in Manhattan today, after being kidnapped by US Special Forces from his home in Caracas at the weekend.
Maduro has been on a US “wanted” list for nacro-terrorism (see poster here) and the US State Department offered $50 million for information leading to his arrest.
He served as President of Venezuela from 2013. He was previously Vice President under Hugo Chavez from 2012 to 2013 and Minister of Foreign Affairs from 2006 to 2012.
Maduro started his career as a bus driver before working for the transit workers union and entering the Venezuelan Parliament.
Maduro’s wife, Cilia Flores, was Venezuela’s Attorney General under Hugo Chavez.
US Secretary of State, Marco Rubio, has suggested that regime change in Cuba could come next.
Security and intelligence: North Korea launched several ballistic missiles towards the sea off its eastern shores yesterday.
It came as South Korea’s President Lee Jae-Myung travelled to China for a State Visit, where talks on North Korea’s nuclear programme are expected to take place.
North Korea is also thought to be showing off its military achievements ahead of a Communist Party Congress expected in January or February.
Domestic politics: The UK Prime Minister, Sir Keir Starmer, said yesterday that the UK Government may look at aligning more closely with the EU single market on an “issue-by-issue, sector-by-sector basis”.
The Mighty Calendar
What’s happening today?
UN Security Council meets to discuss Venezuela
UK’s PM Starmer gives speech on cost of living
Home Office Questions in UK House of Commons
Lookahead to tomorrow
Energy Questions in UK House of Commons
Cyber Resilience Bill to be debated in UK House of Commons
UK, US and Japan services PMI data (December)
Company results from: NEXT, Sainsbury’s
The Mighty Finale
🌤️Weather today
Light rain in the southwest of England and sleet possible in the northwest. Sunny and dry in the northeast and southeast. High of 2C and low of -5C in London. Sunny and dry in Belfast and Edinburgh.
✏️Life coaching quote of the day
“Happiness is not by chance, but by choice.” – Jim Rohn, motivational speaker
Mighty takeaway: Design your life to maximise your happiness.
That’s it for this Monday morning. Thanks for reading and happy new year to all of our readers!
Cheerio!
The Mighty Memo team
*To read the Mighty Memo manifesto and learn about why we do this visit: https://www.mightymemo.co.uk/why*