Wednesday 4 June 2025
The Mighty Headlines
Economics: OECD cuts global economic growth for 2025
Business and market: Elon Musk seeks to raise $5 billion in debt finance
Foreign Affairs: Dutch government collapses
Security and intelligence: Ukraine blows up Russia-Crimea bridge
Domestic politics: Analysts state that UK Government will raise taxes by £10 billion in the Budget
The Mighty Stats
FTSE = 8,787.02 (up 0.15%)
S&P 500 = 5,970.37 (up 0.58%)
Nasdaq = 19,398.96 (up 0.81%)
CAC40 = 7,763.84 (up 0.34%)
£1 = $1.35 / €1.19
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The Mighty Detail
Economics: The OECD has cut predictions for global growth this year to 2.9 per cent. This is a 0.2 per cent reduction from its forecast in March. UK growth was cut from 1.4 per cent to 1.3 per cent. Eurozone growth stays at 1 per cent. The OECD cites US tariffs as a factor in the weaker economic growth.
Business and market: Elon Musk is seeking to raise $5 billion in debt financing from investors to support his artificial intelligence company xAI. The company is also reported to be raising capital by selling $300 million worth of stock. Musk has returned full-time to his companies after finishing his 130-day contract with the US Government last week.
Foreign Affairs: The Netherland's coalition government collapsed yesterday. The Dutch Prime Minister, Dick Schoof, has stepped down. The collapse was precipitated by the departure of Geert Wilders, the right-wing politician, who said that the government would not agree to his strict migration plans. A snap general election will now be held.
Security and intelligence: Ukraine has blown up part of the bridge connecting Crimea to Russia. The Kerch Bridge is an important Russian supply route and was built to link Russia to Crimea after Russia annexed Crimea in 2014. The bridge was attacked using underwater explosives and was partially closed to traffic yesterday.
Domestic politics: Deutsche Bank analysts state that the UK Government will be required to raise taxes by £10 billion at the Autumn Budget. Researchers state that higher inflation and higher spending will eat into the Government’s fiscal headroom and force it find additional income elsewhere.
The Mighty Calendar
What’s happening today?
UK and Germany convene meeting of Ukraine Defence Contact Group
Prime Minister’s Questions in UK Parliament
UK, Eurozone service growth data (May)
Bank of Canada interest rate decision
Lookahead to tomorrow
Holyrood by-election for Hamilton, Larkhall and Stonehouse constituency
NATO Defence Ministers meeting, Brussels
Japanese private lunar lander “Resilience” due to land on the Moon
Cabinet Office Questions in UK Parliament
European Central Bank interest rate decision
US, Canada trade data (April)
US jobless claims (weekly)
The Mighty Finale
🌤️Weather today
Chance of light rain in the south and west of England. Dry elsewhere. High of 19C and low of 12C in London. Light rain in Belfast and Edinburgh.
✏️Life coaching quote of the day
“Excuses are the nails used to build a house of failure.” – Jim Rohn, motivational speaker
Mighty takeaway: What excuses are stopping you from achieving your goals?
That’s it for this morning. Thanks for reading!
Bye!
The Mighty Memo team