Wednesday 29 October 2025
The Mighty Headlines
Economics: US Fed expected to cut interest rates by 0.25bpts today
Business and markets: Amazon to cut 14,000 corporate jobs in AI push
Foreign Affairs: Israel and Hamas accuse each other of ceasefire violations
Security and intelligence: Bulgaria and Rheinmetall sign €1bn defence deal
Domestic politics: Theresa May and John Major warn against Reform UK
The Mighty Stats
FTSE = 9,696.74 (up 0.44%)
S&P 500 = 6,890.89 (up 0.23%)
Nasdaq = 23,827.49 (up 0.8%)
CAC40 = 8,216.58 (down 0.27%)
£1 = $1.33 / €1.14
*For UK Government updates on the situation in Jamaica, please visit the following web site: https://www.gov.uk/foreign-travel-advice/jamaica*
The Mighty Detail
Economics: The US Federal Reserve will announce its interest rate decision today at 2.00pm ET (6.00pm GMT / 7.00pm CET).
The Fed is widely expected to cut interest rates by 0.25 percentage points to a range of 3.75 per cent to 4.00 per cent. This is down from the 4.00 per cent to 4.25 per cent range currently.
The Fed always expresses interest rates as a range.
Business and markets: Amazon is to cut 14,000 corporate jobs globally as it seeks to cut bureaucracy and move forward with Artificial Intelligence. Amazon has over 1.5 million employees, of which around 350,000 are in corporate roles. The company reports its Q3 earnings results tomorrow.
Foreign Affairs: Israel has struck Gaza as both Israel and Hamas accuse each other of violating the ceasefire. Israel says that Hamas has attacked Israeli soldiers and is not fulfilling promises to hand over deceased hostages. Hamas says that Israel is obstructing efforts to find dead hostages.
Security and intelligence: Bulgaria and the German defence company, Rheinmetall, have agreed a €1 billion arms deal. A factory will be constructed to produce 155mm artillery shells and gunpowder and is part of wider European efforts to improve defences following Russia’s invasion of Ukraine.
Domestic politics: Former UK Prime Ministers Theresa May and John Major have warned the Conservative Party against getting too close to Reform UK.
Theresa May said the Party risked “chasing votes from Reform” at the expense of the broader electorate.
John Major said an alliance would “forever destroy” the Tories.
The latest opinions poll puts Reform UK on 27 per cent of the vote and the Conservatives and Labour both on 17 per cent.
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The Mighty Calendar
What’s happening today?
Vietnam’s leader, To Lam, begins two-day visit to the UK
Snap Parliamentary elections in the Netherlands
Prime Minister’s Questions in UK Parliament
UK Joint Committee on National Security Strategy session on China spy case with Attorney General and Chief Secretary to the Prime Minister
US Federal Reserve interest rate decision
Company results from: Google, Microsoft, Facebook, Boeing, Airbus, Starbucks, Mercedes-Benz, Santander, Next, Deutsche Bank, BASF, GlaxoSmithKline
Lookahead to tomorrow
President Trump and President Xi meet in South Korea
Business Questions in UK Parliament
European Central Bank interest rate decision – set to stay at 2.15%
Bank of Japan interest rate decision – set to stay at 0.5%
Company results from: Apple, Amazon, Shell, Total, Standard Chartered, Credit Agricole, Volkswagen, Samsung, Reddit, Liberty Global (Virgin Media)
The Mighty Finale
🌤️Weather today
Morning rain in the southwest of England. Largely dry in the north. Light rain throughout the day in the southeast. High of 13C and low of 4C in London. Sunshine and showers in Belfast and Edinburgh.
✏️Life coaching quote of the day
“Many people delay taking action because they hope to avoid suffering. They keep searching for a path that won’t involve tradeoffs. But some form of suffering is always inevitable. The process of taking action is the process of choosing your pain.” – James Clear, author
Mighty takeaway: There is a cost to everything, both in taking action and in not taking action. Decide which cost you are willing to bear.
That’s it for this morning. Thanks for reading!
Adios!
The Mighty Memo team
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