Wednesday 13 May 2026

Written By Mighty Memo

The Mighty Headlines

 

Economics: US inflation rises 3.8% in April and gasoline by 28%

 

Business and markets: eBay rejects $55.5bn takeover bid from GameStop

 

Foreign Affairs: Uganda’s President sworn in for seventh term

 

Security and intelligence: President Trump visits China tomorrow

 

Domestic politics: State Opening of Parliament and King’s Speech at 11.30am

 

The Mighty Stats

 

FTSE = 10,265.32 (down 0.04%)

S&P 500 = 7,400.96 (down 0.16%)

Nasdaq = 26,088.20 (down 0.71%)

Stoxx 600 = 606.63 (down 1.01%)

 

£1 = $1.35 / €1.15

 

Lab / Con / Reform / Green = 16 / 17 / 28 / 16 per cent (YouGov, 10-11 May)

 

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The Mighty Detail

 

Economics: New data indicates that US inflation rose by 3.8 per cent last month compared with a year earlier. This is the highest level since May 2023, when inflation stood at 4.05 per cent.

  • Gasoline prices in the US rose by nearly 28 per cent in the 12 months to April, while food prices also increased.

 

Business and markets: eBay has rejected a $55.5 billion takeover bid from video game retailer GameStop. GameStop, which was the original “meme stock” during the Covid-19 pandemic (a stock which goes viral on social media), is worth around $10.3 billion, while eBay is worth around $48 billion.

 

Foreign Affairs: Yoweri Museveni was sworn in for a seventh term as President of Uganda yesterday. Museveni, 81, first took office in 1986. His son, General Muhoozi Kainerugaba, who is also head of the army, may succeed him in due course.

 

Security and intelligence: President Trump will meet China’s President Xi tomorrow morning as part of a two-day visit to China. Trump is expected to put pressure on Xi on China’s approach to Iran (namely on China purchasing Iranian oil and exporting weapons to Iran) and to discuss US weapons sales to Taiwan.

  • The 1979 Taiwan Relations Act requires the US to support Taiwan’s self-defence.

  • Tesla’s Elon Musk and Apple’s Tim Cook will join the President for the visit.

 

Domestic politics: The King will deliver the King’s Speech tomorrow, setting out the Government’s priorities for the next legislative session. The King is due to arrive in Parliament at 11.15am and to speak from the throne at 11.30am.

 

The Mighty Calendar

 

What’s happening today?

 

  • King’s Speech at State Opening of UK Parliament

  • Princess of Wales visit Italy

  • Company results from: RWE, E.ON, Siemens, Nissan, SoftBank, TUI, Porsche, StubHub, Birkenstock

 

Lookahead to tomorrow

 

  • Ascension Day (public holiday across much of Europe)

  • President Trump starts two-day visit to China

  • Israel and Lebanon hold discussions at the US State Department

  • UK GDP data (Q1 2026) – growth set to rise from 0.1% to 0.3%

  • US retails sales data (April) – growth set to fall from 1.7% to 0.6%

  • Company results from: Honda, National Grid, ITV, Burberry

 

The Mighty Finale

 

🌤️Weather today

 

In short, it’s rain everywhere in England. Thundery too in the north. High of 13C and low of 6C in London. Light rain in Belfast and Edinburgh.

 

✏️Life coaching quote of the day

 

“If you don’t make the time to work on creating the life you want, you’re eventually going to be forced to spend a lot of time dealing with a life you don’t want.” – Kevin Ngo, writer

 

Mighty takeaway: Do you have the life you want?

 

That’s it for this Wednesday morning. See you on Friday!

 

Bye!

The Mighty Memo team

 

*To read the Mighty Memo manifesto and learn about why we do this visit: https://www.mightymemo.co.uk/why*

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Wednesday 11 May 2026