Wednesday 20 May 2025
The Mighty Headlines
Economics: UK unemployment rises from 4.9% to 5%
Markets: US Government 30-year debt yields reach highest level since 2007
Business: Standard Chartered to replace 15% of admin roles with AI
Foreign Affairs: Protests in Bolivia over wages, food shortages and fuel
Security and intelligence: US puts new sanctions on Cuba’s ruling class
Domestic politics: Labour and Reform candidates announced for Makerfield by-election
The Mighty Stats
FTSE = 10,330.55 (up 0.066%)
S&P 500 = 7,353.61 (down 0.67%)
Nasdaq = 25,870.71 (down 0.84%)
Stoxx 600 = 611.34 (up 0.19%)
£1 = $1.34 / €1.15
Lab / Con / Reform / Green = 17 / 18 / 25 / 15 per cent (YouGov, 17-18 May)
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The Mighty Detail
Economics:Youth unemployment in the UK rose to 16.2 per cent in April – the highest level since 2015. There were around 960,000 people aged 16 to 24 who are not in education or work at the end of last year. Across the economy, unemployment in the three months to March rose from 4.9 per cent to 5 per cent.
Markets: Yields on long-term, 30-year US Government debt reached 5.19 per cent yesterday. This is the highest level in around 19 years. Yields were last this high just before the financial crisis in 2007.
Investors are concerned about US inflation risks, and the likelihood of the US Federal Reserve raising interest rates.
Business: Standard Chartered has said that it will cut over 15 per cent of its administrative staff in the next four years, equating to around 7,500 jobs. The roles will be replaced by new technologies such as AI.
CEO Bill Winters said that the bank was replacing “lower-value human capital with the financial capital and the investment capital we’re putting in”.
Foreign Affairs: There was unrest in Bolivia earlier this week as protestors clashed with security forces over wages, food shortages and substandard fuel. Centrist President Rodrigo Paz, who has been in office for six months, argues that the economy is improving, with inflation down from around 25 per cent in July 2025 to around 14 per cent today.
Security and intelligence: The US has imposed new sanctions on Cuba’s ruling class, including on three military generals, the head of the Intelligence Directorate, and the President of the National Assembly.
The US is seeking “fundamental change” in Cuba, and CIA Director, John Ratcliffe, visited the country last week for talks.
Domestic politics: The mayor of Greater Manchester, Andy Burnham, has been selected as the Labour Party’s candidate in the Makerfield by-election. The election is expected to be called on the 18th June. Reform UK, expected to be in close competition for the seat, has selected local plumber and Army Reservist, Robert Kenyon, as its candidate.
Other announced candidates include Rebecca Shepherd of Restore Britain, and Alan "Howlin" Laud Hope, of The Official Monster Raving Loony Party.
The Mighty Calendar
What’s happening today?
President Trump delivers US Coast Guard Academy Commencement address
Prime Minister’s Questions in UK House of Commons
NATO Secretary General holds press conference
UK CPI inflation data (April) – set to fall from 3.3% to 3%
Eurozone CPI inflation data (April) – set to fall from 1.3% to 1%
Company results from: Nvidia, M&S, British Land, Experian
Lookahead to tomorrow
Informal meeting of NATO Foreign Ministers, Helsingborg, Sweden
Prince of Wales visits Cornwall
Company results from: EasyJet, Nationwide, Walmart, BT, Tate & Lyle, Sage Group
The Mighty Finale
🌤️Weather today
Light rain in the north of England. Drier in the south. High of 20C and low of 11C in London. Largely dry in Belfast. Light rain in Edinburgh.
✏️Life coaching quote of the day
“Enduring means accepting. Accepting things as they are and not as you wish them to be. And then looking ahead. And not behind.” – Rafael Nadal, 22-time tennis Grand Slam champion
Mighty takeaway: Don’t linger on past events. Accept today and look to all the great things that you can create in the future.
That’s it for this Wednesday morning. We’ll see you again on Friday!
Bye!
The Mighty Memo team
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