Tuesday 29 April 2025
The Mighty Headlines
Economics: EY forecasts lower UK GDP in 2025 and 2026
Business: French company in talks to buy ITV
Markets: Deliveroo shares rise after £2.7 billion takeover bid
Foreign Affairs: Russia says it is waiting on Ukraine for peace talks
Security and intelligence: IAEA in Iran for nuclear talks
Domestic politics: UK Government to publish immigration plans
The Mighty Stats
FTSE = 8,417.34 (up 0.025%)
S&P 500 = 5,528.75 (up 0.064%)
Nasdaq = 17,366.13 (down 0.097%)
CAC40 = 7,573.76 (up 0.5%)
£1 = $1.33 / €1.18
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Spain update: Spain's Prime Minister, Pedro Sanchez, has declared a state of emergency following a power outage which hit large parts of Spain and Portugal yesterday afternoon.
The Mighty Detail
Economics: The consultancy EY has changed its forecast of UK economic growth in 2025 and in 2026. In 2025, it now predicts that the UK economy will grow by 0.8 per cent. This is down from the 1 per cent growth it previously predicted. In 2026, it has reduced its forecast for UK growth from 1.6 per cent to 0.9 per cent. It suggests that the weaker global economy and trade uncertainty are to blame.
Business: The French media group Banijay is in early talks to takeover ITV. It is being reported that Banijay would either purchase the broadcaster as a whole or its studio arm only. Analysts have said that ITV Studios alone could be worth around £3 billion.
Markets: Shares in Deliveroo rose by over 16 per cent yesterday. It comes as the food delivery company said on Friday that it had received a takeover bid from DoorDash. DoorDash is the US’s largest takeaway company. DoorDash is offering to buy Deliveroo for £2.7 billion.
Foreign Affairs: The Russian Government said on Monday that it is ready for peace talks but is waiting for a signal from Ukraine. It also announced a three-day ceasefire from 8 May. President Trump had criticised President Putin in recent days for continued delays, saying that “maybe [Putin] doesn’t want to stop the war” and is “just tapping me along”.
Security and intelligence: A delegation from the International Atomic Energy Agency arrived in Iran yesterday for technical talks on Iran’s nuclear programme. It follows three rounds of nuclear talks between the US and Iran. The US wants to stop Iran from developing a nuclear weapon and Iran wants US sanctions to be lifted. Israeli Prime Minister Benjamin Netanyahu said at the weekend that all of Iran’s nuclear infrastructure should be removed.
Domestic politics: There are reports that the UK Government is set to publish a policy paper on immigration in an attempt to fight off Reform UK. Plans could include a goal to reduce net migration and introducing restrictions on graduate visas. The Home Office says that the plans are not in response to the threat from Nigel Farage’s party.
The Mighty Calendar
What’s happening today?
Japan public holiday (Showa day)
Prince and Princess of Wales visit Isle of Mull
President Trump holds rally to mark 100 days in office
UN Security Council debate on the Middle East
Energy Questions in UK Parliament
Eurozone consumer confidence data (April)
Japan industrial production data (March)
China manufacturing data (April)
Company results from: BP, General Motors, HSBC, Deutsche Bank, Associated British Foods, Spotify, AstraZeneca, Adidas, Lufthansa
Lookahead to tomorrow
Prime Minister’s Questions in UK Parliament
US, Eurozone GDP data (Q1 2025)
Bank of Japan interest rate decision
Company results from: Meta, Microsoft, Volkswagen, Mercedes-Benz, Stellantis, Aston Martin, TotalEnergies, Barclays, Santander, UBS, Credit Agricole, Société Générale, Airbus, Next
The Mighty Finale
🌤️Weather today
Sunny and dry across the UK. High of 24C and low of 9C in London.
✏️Life coaching quote of the day
“Those who don’t believe in magic will never find it.” – Roald Dahl, novelist
Mighty takeaway: If you don’t truly believe in your dreams, you’ll never achieve them.
That’s it for this Tuesday morning. Thanks for reading and we’ll see you tomorrow.
Goodbye!
The Mighty Memo team