Wednesday 10 December 2025
The Mighty Headlines
Economics: US Fed expected to cut interest rates today
Business and markets: Microsoft announces $23 billion AI investment
Foreign Affairs: US pressures Ukraine to have ceasefire by Christmas
Security and intelligence: South Korea deploys military aircraft
Domestic politics: UK strengthens anti-corruption force
The Mighty Stats
FTSE = 9,642.01 (down 0.032%)
S&P 500 = 6,840.51 (down 0.088%)
Nasdaq = 23,576.49 (up 0.13%)
CAC40 = 8,052.51 (down 0.69%)
£1 = $1.33 / €1.14
Lab / Con / Reform = 19 / 18 / 27 per cent (YouGov, 7-8 Dec)
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Today’s Mighty Question and Answer
Q: I hear about tariffs all the time in the news. I know what they are, but how do they work in practice? Who collects the money and what happens to the money? Who pays? Thanks, B.
A: Thank you, B. Tariffs are a tax levied by the Government on goods received from foreign countries. The company which imports the goods pays the tariff to the Government. In the UK, the company would pay HMRC. The exact amount to be paid is usually a percentage of the value of the good. The UK, for instance, has a 10 per cent tariff on foreign-made cars. A company importing a £30,000 car into the UK would then pay £3,000 to HMRC.
The Mighty Detail
Economics: The US Federal Reserve announces its interest rate decision today. It is expected to cut rates by 25 basis points to sit with a range of 3.5% to 3.75%. The decision will be announced at 2.00pm ET (7.00pm GMT).
President Trump separately said on Tuesday that support for immediately cutting interest rates was a requirement for any candidate wishing to lead the Federal Reserve.
Business and markets: Microsoft has announced $23 billion of investment in artificial intelligence. The greater part ($17.5 billion) will be invested in India. India has one billion internet users and is seen as a key market for US tech companies. In October, Google announced a $15 billion investment in India to build a data centre.
Foreign Affairs: The US administration has said that Ukraine has “days” to respond to peace proposals, with the aim of agreeing a ceasefire with Russia by Christmas Day. President Zelensky said yesterday he had no right to give away Ukrainian land (as proposed by the US) under Ukrainian and international law.
Security and intelligence: South Korea deployed military aircraft yesterday morning as seven Russian and two Chinese warplanes entered a South Korean defence identification zone. The zone is an area where aircraft are required to identify themselves as they approach.
Russia released a statement stating that the operation yesterday was “strictly in accordance with the provisions of international law”.
China and Russia have been conducting joint air patrols since 2019 and yesterday’s session last for 8 hours.
Domestic politics: The UK Government is expanding the Domestic Corruption Unit, based within the City of London Police. The unit will receive an additional £15 million. The UK Government, which has also published a new anti-corruption strategy, is concerned about corrupt actors working for foreign criminal gangs or for hostile countries such as Russia.
The Mighty Calendar
What’s happening today?
US Federal Reserve interest rate decision
Rachel Reeves appears before Treasury Select Committee
Prime Minister’s Questions in Parliament
Company results from: Oracle, Berkeley
Lookahead to tomorrow
Time Magazine Person of the Year announced
Nine months since the Birmingham bin strikes began
Business Questions in Parliament
Company results from: Costco, Broadcom
The Mighty Finale
🌤️Weather today
Sunny and dry in most of England but rain in the northwest. High of 13C and low of 6C in London. Sunny spells in Belfast. Rain in Edinburgh.
✏️Life coaching quote of the day
“Be bold. If you’re bold you might royally screw up, but you can also achieve much more, so be bold. You’ve only got your own reputation to lose and that’s not important…Even if you work on a customer help desk somewhere, ask yourself how can I be bold? Find those small moments of boldness because they are everywhere.” – Martha Lane Fox, entrepreneur
Mighty takeaway: Be courageous in a small way (or in a big way). Keep trying new things.
That’s it for this morning.
Adios!
The Mighty Memo team
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