Wednesday 18 February 2026
The Mighty Headlines
Economics: UK unemployment rises and interest rate cut now likely
Business and markets: Warner Bros re-starts buyout talks with Paramount
Foreign Affairs: Peru’s President ousted over China business meeting
Security: US to send more missiles to Philippines despite China’s concerns
Domestic politics: UK Government cancels post-Brexit trade programme
The Mighty Stats
FTSE = 10,556.17 (up 0.79%)
S&P 500 = 6,843.22 (up 0.1%)
Nasdaq = 22,578.38 (up 0.14%)
Stoxx 600 = 621.29 (up 0.45%)
£1 = $1.36 / €1.14
Lab / Con / Reform = 17 / 19 / 30 per cent (YouGov, 15-16 February)
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The Mighty Detail
Economics: New data published yesterday shows that UK unemployment increased to 5.1 per cent in January, while wage growth slowed more than expected.
These developments increase the probability of a Bank of England interest rate cut. The financial markets are pricing in two cuts in 2026.
The increase in youth unemployment to 16.1 per cent is also noteworthy. It is the highest level in 10 years.
Business and markets: Warner Bros Discovery is re-starting takeover talks with Paramount Skydance, despite already agreeing to be bought by Netflix for $82.7 billion.
Netflix has offered to buy Warner Bros’ studios and streaming business but not its cable channels.
Paramount wants everything and is offering at least $108.4 billion.
Foreign Affairs: Peru’s lawmakers ousted the country’s President, Jose Jeri, yesterday. Jeri has been in post for only four months. Jeri is involved in a public scandal after failing to disclose a meeting with a Chinese businessman. Peru’s lawmakers also ousted Jeri’s predecessor over corruption scandals in October.
Security and intelligence: The US is to increase the deployment of “cutting-edge missiles and unmanned systems” to the Philippines. It follows annual security talks between the two countries. China has repeatedly expressed concern about US missiles in the Philippines.
Domestic politics: The UK Government has cancelled a programme to build a frictionless trade border as part of post-Brexit trade arrangements with the rest of the world. A total of £110 million is reported to have been spent on the project which would have created a new digital platform for import and export paperwork.
The Mighty Calendar
What’s happening today?
China, Hong Kong, Singapore public holiday (Chinese New Year)
Ash Wednesday
Denmark’s King Frederik X visits Greenland
UK CPI inflation data (January) – set to fall from 3.2% to 3.1%
France CPI inflation data (January) – set to fall from 0.8% to 0.3%
Company results from: Glencore, BAE Systems, Liberty Global, eBay
Winter Olympics focus: women’s slalom, women’s freestyle skiing, men’s snowboard slopestyle, men’s ice hockey quarterfinals.
Lookahead to tomorrow
China, Hong Kong, public holiday (Chinese New Year)
UK Foreign Secretary Cooper chairs UN Security Council
Verdict in ex-Korean President Yoon Suk Yeol’s insurrection case
London Fashion Week begins
US, Canada trade data (December)
Company results from: Centrica, Walmart, Klarna, Airbus, Renault, Rio Tinto
Winter Olympics focus: women’s single figure skating, women’s ice hockey gold medal game, men’s speed skating.
The Mighty Finale
🌤️Weather today
Largely dry in the northeast of England. Rain elsewhere in the afternoon. High of 5C and low of 3C in London. Light rain in Belfast. Dry and cloudy in Edinburgh.
✏️Life coaching quote of the day
“We have the power to hold no opinion about a thing and to not let it upset our state of mind – for things have no natural power to shape our judgments.” – Marcus Aurelius, ancient Roman emperor and philosopher
Mighty takeaway: Why have an opinion about everything and let it upset you? Choose to have no opinion about a thing or about the people who upset you. Let them become irrelevant and let yourself be happier!
That’s it for this Wednesday morning. We’ll see you on Friday!
Bye!
The Mighty Memo team
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