Wednesday 25 June 2025
The Mighty Headlines
Economics: German budget to raise defence spending by 70% by 2029
Business and markets: Oil prices fall by 6 per cent after ceasefire
Foreign Affairs: Japan conducts first ever missile test on its territory
Security and intelligence: Pentagon leak says Iranian nuclear sites intact
Domestic politics: UK stays the course on welfare reform despite protests
The Mighty Stats
FTSE = 8,758.99 (up 0.011%)
S&P 500 = 6,092.18 (up 1.11%)
Nasdaq = 22,190.52 (up 1.53%)
CAC40 = 7,615.99 (up 1.04%)
£1 = $1.36 / €1.17
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The Mighty Detail
Economics: The German Government announced its budget yesterday, including plans to boost military spending by 70 per cent to €162 billion by 2029. This is a faster increase in defence spending than the UK and France. A total of €134 billion this year is earmarked for infrastructure and defence spending, which the Government also hopes will revitalise the German economy.
Business and markets: The price of oil fell by 6 per cent during trading yesterday after falling 7 per cent on Monday. It follows the ceasefire between Iran and Israel as well as suggestions from President Trump that he would ease sanctions on China to allow the country to buy oil from Iran.
Foreign Affairs: For the first time, Japan has conducted a missile test on its own territory. Japanese forces fired a Type 88 short range missile in Hokkaido. Japan will also begin deploying long range Tomahawk cruise missiles later this year, which it bought from the US. The country is seeking to counter Chinese influence in the region.
Security and intelligence: It is being reported that the US’s strikes on Iran have not significantly damaged Iran’s nuclear sites. Leaked information from the Pentagon’s intelligence section suggests that Iran’s stockpile of uranium and its centrifuges have not been destroyed and that its nuclear programme has been pushed back by only a few months. The White House acknowledged the existence of the report but says it disagrees with it.
Domestic politics: The UK Government is expected to go ahead with planned reforms to welfare despite opposition by around 120 of its MPs. The UK welfare budget is due to reach £100 billion by 2030. The Government is proposing to reduce that by £5 billion which opponents say will affect people with disabilities and long-term health conditions.
The Mighty Calendar
What’s happening today?
NATO leaders’ summit (final day)
Prime Minister’s Questions in UK Parliament
US new homes sales data (May)
Lookahead to tomorrow
European Council leaders’ summit
US GDP data (Q1 2025)
US retail consumer spending (Q1 2025)
US initial jobless claims (weekly)
Company results from: Nike, H&M, Walgreens Boots Alliance
The Mighty Finale
🌤️Weather today
Mixture of cloud and sunshine in most of England. Light rain in the southwest. High of 28C and low of 17C in London. Cloudy in Belfast and Edinburgh.
✏️Life coaching quote of the day
“Honesty is a very expensive gift. Don't expect it from cheap people.” – Warren Buffett, investor
Mighty takeaway: Choose your associates and friends carefully.
That’s it for this morning. Thanks for reading!
Bye!
The Mighty Memo team