Thursday 29 May 2025
The Mighty Headlines
Economics: JD Vance indicates support for stablecoins
Business and markets: Shein to move IPO from London to Hong Kong
Foreign Affairs: Hamas leader reported dead
Security and intelligence: EU ready to sanction China over cyberattacks
Domestic politics: UK to reform planning rules for small builders
The Mighty Stats
FTSE = 8,726.01 (down 0.59%)
S&P 500 = 5,888.55 (down 0.56%)
Nasdaq = 19,100.94 (down 0.51%)
CAC40 = 7,788.10 (down 0.49%)
£1 = $1.35 / €1.19
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The Mighty Detail
Economics: The US Vice President, JD Vance, has said that stablecoins are not a threat to the US dollar. Stablecoins are cryptocurrency designed to have a value linked to another asset such as the US dollar. In a speech in Las Vegas, Vance also touted the benefits of the GENIUS Act currently going through the US Congress. This legislation could allow cryptocurrencies to become a mainstream form of digital payment.
Business and markets: Fast-fashion company Shein is expected to shift its IPO from London to Hong Kong. It comes after Chinese regulators have delayed giving Shein regulatory approval for a London listing. Shein had intended to list in London or New York to extend its reach beyond China and access a wider pool of Western investors.
Foreign Affairs: Benjamin Netanyahu has said that the Israeli military has killed Hamas leader, Mohammed Sinwar. Sinwar is the brother of the late Yahya Sinwar who was leader of Hamas until he was similarly killed in an Israeli strike last year. Netanyahu’s comments have not been independently verified.
Security and intelligence: The EU has said that it is prepared to impose sanctions on China following news of Chinese-linked cyberattacks on the Czech Republic. The Czech authorities have said that the APT31group - intelligence officers suspected of working for China - began attacking the Czech foreign ministry in 2022. APT31 has already been linked to thousands of attacks against military organisations, governments and private companies.
Domestic politics: The UK Government has said that it is to reduce planning regulations for small construction companies. Under new plans, planning permission for developments of up to 9 homes could be delegated to “expert trained planners” rather than local planning committees. The Government has pledged to deliver 1.5 million homes this Parliament.
The Mighty Calendar
What’s happening today?
Norway, Switzerland public holiday (Ascension Day)
40th anniversary of Heysel Stadium disaster
UK Attorney General delivers annual RUSI security lecture
UK Parliament in recess
US GDP data (Q1 2025)
US initial jobless claims (weekly)
Japan CPI inflation data (May)
Company results from: Nationwide, Costco
Lookahead to tomorrow
President Macron delivers security speech in Singapore
UK Parliament in recess
Canada GDP data (Q1 2025)
China manufacturing growth data (May)
Germany, Italy, Spain CPI inflation data (May)
The Mighty Finale
🌤️Weather today
A dash of rain in the north of England. Dry but cloudy in the south. High of 22C and low of 14C. Light rain in Belfast. Heavy rain and gusty winds in Edinburgh.
✏️Life coaching quote of the day
“Know that you are the perfect age. Each year is special and precious, for you shall only live it once. Be comfortable with growing older.” – Louise Hay, writer
Mighty takeaway: Nothing further to add to this!
That’s it for this Thursday morning. See you tomorrow!
Adios!
The Mighty Memo team