Wednesday, 4 December 2024

The Mighty Headlines

• Economics: China bans export of critical minerals to US in tit-for-tat

• Business: French pharma firm Sanofi makes record investment in China

• Markets: Spread in French and German bonds increase following political uncertainty

• Foreign Affairs: Martial law in South Korea blocked by its Parliament

• Security and intelligence: NATO head calls for military aid for Ukraine

• Domestic politics: UK PM won’t block return of Parthenon sculptures to Greece

The Mighty Stats

• FTSE = 8,359.41 (up 0.56 per cent at Tuesday close)

• S&P500 = 6,049.88 (up 0.045 per cent at Tuesday close)

• Nasdaq = 19,480.91 (up 0.4 per cent at Tuesday close)

• CAC40 = 7,255.42 (up 0.26 per cent at Tuesday close)

• £1 = $1.28 / €1.21

*If you’ve been forwarded the Mighty Memo, subscribe for free at www.mightymemo.co.uk. You’ll receive the Mighty Memo directly in your inbox as soon as it’s published!*

The Mighty Detail

Economics: China has banned the export of critical minerals to the United States as part of escalating trade tensions between the two superpowers. It comes after the United States curbed exports to 140 Chinese companies on Monday, in an effort to reduce their ability to produce computer chips and make progress with artificial intelligence.

Business: French pharmaceutical compan‎y Sanofi is to invest around €1 billion to build a new insulin production site near Beijing. It marks Sanofi's biggest single investment in China. China accounts for a quarter of the world's diabetes population and Sanofi says it will be producing insulin for the local market.

Markets: The spread between French and German sovereign bond yields is close to its widest level since the Eurozone debt crisis of the early 2010s. This reflects the riskier nature of French government bonds as the French Government faces a vote of confidence today. The vote of confidence will only succeed if the far-right National Rally party votes with left-wing parties, a situation which President Macron has called "unbearable cynicism".

Foreign Affairs: The South Korean President, Yoon Suk-yeol, declared martial law yesterday evening only for this‎ to be blocked by the South Korean Parliament this morning. Yoon's decision is reported to have been motivated by difficulties over budget negotiations with the opposition, which controls the Parliament. Yoon has accused the opposition of paralysing the country.

Security and intelligence: The head of NATO, Mark Rutte, has said that President Putin is using Ukraine as a “testing ground for experimental weapons” and has called for more military aid to Ukraine. Ukraine’s Foreign Minister, Andrii Sybiha, says that only full NATO membership will guarantee Ukraine’s future security.

Domestic politics: A senior Greek government official has said the UK Prime Minister will not stand in the way of the Parthenon sculptures in the British Museum being returned to Greece. This is the latest development in a decades-long dispute and follows talks between the UK Prime Minister and the Greek Prime Minister in Downing Street yesterday.

The Mighty Calendar

What’s happening today?

• Prime Minister’s Questions in UK Parliament

• UK, United States, Spain, France, Italy, Germany, Eurozone services data (November)

• Eurozone PPI inflation data (October)

• United States mortgage data (weekly)

• South Korea GDP data (Q3 2024)

• Australia trade data (October)

• Company earnings results: Royal Bank of Canada, Campbell Soup, Foot Locker

Lookahead to tomorrow

• Organisation for Security and Cooperation in Europe meeting, Malta (ends Friday)

• Sir Keir Starmer gives speech on new government targets

• Singapore, Eurozone retail sales data (October)

• Switzerland unemployment data (November)

• Germany factory orders (November)

• Spain, France industrial production data (October)

• UK, Italy, Germany, France, Eurozone construction data (November)

• United States, Canada trade data (October)

• United States unemployment data (weekly)

• Japan household spending data (October)

• Company earnings results: AJ Bell, DS Smith, DocuSign, Watches of Switzerland

The Mighty Finale

🌤️Weather today

Dry in England until early evening when the rain arrives. High of 9oC and low of 8oC. Dry in Belfast until lunchtime. Dry in Edinburgh until late afternoon.

✏️Life coaching quote of the day

“I have learned over the years that when one's mind is made up, this diminishes fear; knowing what must be done does away with fear.” – Rosa Parks, US civil rights activist

Mighty takeaway: Take one decision you have been putting off because you have been afraid and see if the fear goes away. It takes courage but the fear will disappear.

That’s about it for today’s edition. See you tomorrow morning!

Adios!

The Mighty Memo team

Tuesday, 3 December 2024

The Mighty Headlines

• Economics: UK and EU manufacturing falls again

• Business: Volkswagen workers go on strike in Germany

• Markets: Vauxhall owner’s share price drops after CEO resigns

• Foreign Affairs: French Government faces confidence motion

• Security and intelligence: Philippines reports Russian military submarine in its waters

• Domestic politics: UK Government says arrests increase for people working illegally

The Mighty Stats

• FTSE = 8,312.89 (up 0.31 per cent at Monday close)

• S&P500 = 6,047.15 (up 0.24 per cent at Monday close)

• Nasdaq = 19,403.95 (up 0.97 per cent at Monday close)

• CAC40 = 7,236.89 (up 0.025 per cent at Monday close)

• £1 = $1.26 / €1.21

• Key European election results

Romania – The pro-West Social Democrat party has narrowly come first in Romania’s Parliamentary election with 22.3 per cent of the vote. The nationalist AUR party won 18.2 per cent of the vote. The second round of the Presidential election, in which pro-Russia Calin Georgescu enters as the favoured candidate, takes place on the 8th December.

Republic of Ireland – Due to a close result, a coalition between the three major parties in the Republic of Ireland is likely. Centre-right Fianna Fáil won 21.9 per cent of the vote (46 seats), centre-right Fine Gael won 20.8 per cent of the vote (38 seats) and Sinn Féin won 19 per cent of the vote (38 seats).

*If you’ve been forwarded the Mighty Memo, subscribe for free at www.mightymemo.co.uk. You’ll receive the Mighty Memo directly in your inbox as soon as it’s published!*

The Mighty Detail

Economics: UK and Eurozone manufacturers reported falling demand for goods in November. Eurozone PMI data fell to 45.2 in November, down from 46 in October. Any figure below 50 indicates a contraction. UK PMI fell to 48 in November, down from 49.9 in October.

Business: Volkswagen workers are on strike at nine factories across Germany. They are protesting against planned pay cuts and factory closures. Volkswagen is facing slowing demand for vehicles in Europe, higher costs and increased competition from China.

Markets: Shares in carmaker Stellantis fell by over 6 per cent yesterday after the sudden resignation of its CEO, Carlos Tavares. Stellantis, which owns brands including Vauxhall, Fiat, Citroën and Chrysler, is facing reduced demand for electric vehicles and potential fines from the Government if it doesn’t meet zero-emissions sales targets.

Foreign Affairs: The French Government faces a vote of confidence as early as Wednesday. This comes after French Prime Minister Michel Barnier put through the Government’s social security budget yesterday by executive decree. Barnier, a centre-right politician, leads a minority government. He has faced opposition from the right and the left in Parliament since he was appointed in September after an inconclusive general election, which left no party in control.

Security and intelligence: The President of the Philippines, Ferdinand Macros Jr., said yesterday that the presence of a Russian military submarine in Philippine waters was “very worrisome”. The Russian Kilo-class submarine, known for its silence, was spotted on the 28th November. Upon contact, the submarine crew said they were waiting for the weather to improve before returning to Russia but they did not explain why they were in the area.

Domestic politics: The Government has said that the number of arrests of migrants working illegally has increased by 25 per cent in a year and that 10,000 people with no right to stay in the UK have been returned since the election. Separately, Sir Christopher Wormwald, formerly head of the Health Department, has been appointed Cabinet Secretary and Head of the Civil Service.

The Mighty Calendar

What’s happening today?

• Emir of Qatar state visit to the UK (ends Wednesday)

• NATO Foreign Ministers meeting, Brussels (ends Wednesday)

• Turner Prize Winner announced (40th Anniversary)

• Treasury Questions in UK Parliament

• French Government budget data (October)

• Spain unemployment data (November)

• Australia GDP data (Q3 2024)

• Hong Kong manufacturing data (November)

• Company earnings results: Salesforce, On The Beach Group, Paragon Banking Group, Greencore, Moonpig

Lookahead to tomorrow

• Prime Minister’s Questions in UK Parliament

• UK, United States, Spain, France, Italy, Germany, Eurozone services data (November)

• Eurozone PPI inflation data (October)

• United States mortgage data (weekly)

• South Korea GDP data (Q3 2024)

• Australia trade data (October)

• Company earnings results: Royal Bank of Canada, Campbell Soup, Foot Locker

The Mighty Finale

🌤️Weather today

Sunny and dry in England. High of 8oC and low of 3oC. Heavy rain in Belfast from mid-afternoon. Sunny spells in Edinburgh.

✏️Life coaching quote of the day

“You gain strength, courage and confidence by every experience in which you really stop to look fear in the face. You are able to say to yourself, 'I lived through this horror. I can take the next thing that comes along.' You must do the thing you think you cannot do.” – Eleanor Roosevelt, diplomat and activist

Mighty takeaway: Confidence comes by sometimes putting yourself in uncomfortable situations, taking calculated risks and proving to yourself that you can do it.

That’s about it for today’s edition. Do pass this newsletter on to someone who might find it useful and we’ll see you tomorrow.

Cheerio!

The Mighty Memo team

Monday, 2 December 2024

The Mighty Headlines

• Economics: Confidence in UK economy falls among business leaders

• Business: Disney takes record ticket sales with movie “Moana 2”

• Markets: Value of semiconductor shares rises after US Government news

• Foreign Affairs: Protests in Georgia and Romanian elections

• Security and intelligence: Taiwan’s President visits Hawaii amid Chinese opposition

• Domestic politics: Government supports new law to stop puppy smuggling

The Mighty Stats

• FTSE = 8,287.30 (up 0.073 per cent at Friday close)

• S&P500 = 6,032.38 (up 0.56 per cent at Friday close)

• Nasdaq = 19,218.17 (up 0.83 per cent at Friday close)

• CAC40 = 7,235.11 (up 0.78 per cent at Friday close)

• £1 = $1.27 / €1.20

• UK: Con / Lab / Reform = 25 / 29 / 21 per cent

• Second Trump Administration Cabinet Positions

*Over the weekend, Donald Trump made the following appointments to his incoming administration.*

Ambassador to France: Charles Kushner, real-estate developer and father of Donald Trump’s son-in-law Jared Kushner

Director of the FBI: Kash Patel, chief of staff to Acting US Defence Secretary (2020 to 2021)

Drug Enforcement Agency: Chad Chronister, Sheriff of Hillsborough County, Florida (2017 to now)

*If you’ve been forwarded the Mighty Memo, subscribe for free at www.mightymemo.co.uk. You’ll receive the Mighty Memo directly in your inbox as soon as it’s published!*

The Mighty Detail

Economics: Confidence in the UK economy among business leaders fell in November to its lowest level since the Covid-19 pandemic. The Institute of Directors’ monthly Economic Confidence Index fell from -52 in October to -65 in November. This is its fourth consecutive monthly drop.

Business: The Disney film “Moana 2” has generated record ticket sales for a Thanksgiving weekend. The movie made $221 million in ticket sales over the five-day US holiday period and made $386 million worldwide. Disney has had a positive end to the year with operating profits of $253 million in Q4 2024 compared to a loss of $420 million at the same point last year.

Markets: Semiconductor stocks rose again during trading last Friday. Lam Research rose by more than 3 per cent, while Nvidia rose by more than 2 per cent. This follows news that the Biden administration is considering reducing the scale of the barriers it intended to put on the sale of semiconductor equipment to China.

Foreign Affairs: Tens of thousands of people protested outside Georgia’s Parliament over the weekend. This followed news that Georgia’s Prime Minister was suspending EU membership talks. Separately, Romania’s parliamentary elections – which include a similar battle between pro-Western and pro-Russian factions – were held yesterday and results could be finalised today.

Security and intelligence: Taiwan’s President, Lai Ching-te, visited Hawaii as part of a Pacific tour on Sunday. In response, China’s Foreign Ministry said it opposed official interaction between the US and Taiwan and that it would take “resolute and strong measures” to defend its sovereignty. On Friday, the United States separately announced it would be selling $385 million worth of weapons to Taiwan.

Domestic politics: The Government has announced its support for a Private Members’ Bill to end puppy smuggling. The Bill would give the Government the power to ban the importing of puppies and kittens under six months old. A Private Members’ Bill is initiated by an MP instead of the Government and usually does not succeed without Government support.

The Mighty Calendar

What’s happening today?

• Cyber Monday (first full working day after Thanksgiving, with shopping discounts online)

• Sir Keir Starmer gives foreign policy speech at Lord Mayor’s Banquet

• UK house price data (November)

• UK, United States, Canada, Spain, Italy, France, Germany, Eurozone manufacturing data (November)

• Italy GDP data (Q3 2024)

• Eurozone unemployment data (October)

• South Korea CPI inflation data (November)

• Company earnings results: SRT Marine Systems

Lookahead to tomorrow

• Emir of Qatar state visit to the UK (ends Wednesday)

• NATO Foreign Ministers meeting, Brussels (ends Wednesday)

• Turner Prize Winner announced (40th Anniversary)

• French Government budget data (October)

• Spain unemployment data (November)

• Australia GDP data (Q3 2024)

• Hong Kong manufacturing data (November)

• Company earnings results: Salesforce, On The Beach Group, Paragon Banking Group, Greencore, Moonpig

The Mighty Finale

🌤️Weather today

Patchy rain in north-east England and the Midlands. Dry elsewhere. High of 11oC and low of 3oC. Light cloud but dry in Belfast. Light rain in Edinburgh.

✏️Life coaching quote of the day

“People tell you the world looks a certain way. Parents tell you how to think. Schools tell you how to think. TV. Religion. And then at a certain point, if you're lucky, you realize you can make up your own mind. Nobody sets the rules but you. You can design your own life.” – Carrie Ann Moss, actress

Mighty takeaway: You decide what life to live. Nothing can stop you apart from the thoughts in your head. And you can choose to switch those thoughts to better ones.

That’s about it for today’s edition. Thank you so much for reading to the end! We hope you have a good start to the week.

Cheerio!

The Mighty Memo team

Friday, 29 November 2024

The Mighty Headlines

• Economics: German inflation increases to 2.2 per cent

• Business: Microsoft faces antitrust investigation in the United States

• Markets: France’s stock market at a nearly 4-month low

• Foreign Affairs: Georgia’s PM suspends talks on EU membership

• Security and intelligence: China suspends another high-ranking military official

• Domestic politics: UK migration figures hit record levels

The Mighty Stats

• FTSE = 8,281.22 (up 0.078 per cent at Thursday close)

• S&P500 = 5,998.74 (down 0.38 per cent at Thursday close)

• Nasdaq = 19,060.48 (down 0.6 per cent at Thursday close)

• CAC40 = 7,179.25 (up 0.51 per cent at Thursday close)

• £1 = $1.27 / €1.20

*If you’ve been forwarded the Mighty Memo, subscribe for free at www.mightymemo.co.uk. You’ll receive the Mighty Memo directly in your inbox as soon as it’s published!*

The Mighty Detail

Economics: German inflation increased to 2.2 per cent in November, up from 2 per cent in October. In September, the rate of inflation in Germany was 1.6 per cent. Combined with new data showing a modest increase in Eurozone consumer confidence in October, a cut in Eurozone interest rates in December is uncertain.

Business: The US Federal Trade Commission (FTC) has opened an antitrust investigation into Microsoft. It is being reported that the FTC is especially looking into Microsoft’s bundling of its Office and security software with cloud services, effectively blocking out potential competitors.

Markets: The French stock market is at a nearly four-month low. French Prime Minister, Michel Barnier, is facing heavy opposition to his budget in the French Assembly and there is a possibility the Government could collapse. On Wednesday, the CAC40 fell to its lowest level since the 6th August and has recovered only slightly since then.

Foreign Affairs: Georgia’s Prime Minister, Irakli Kobakhidze, has said that he is suspending talks on EU membership until 2028. This comes after the EU called for Georgia’s October parliamentary elections to be re-run and said it would stop financial support for the country. The opposition in Georgia refuses to recognise Georgia’s new Parliament and is boycotting it.

Security and intelligence: China’s defence ministry has suspended another high-ranking military official – the latest in a series of dismissals. Miao Hua, the head of the political section of the Central Military Commission is under investigation for breaches of discipline. Miao is reported to be a close aide of President Xi.

Domestic politics: Revised figures show that net migration to the UK reached 906,000 in the year to June 2023. The previous figures had been 740,000. In the year to June 2024, net migration fell to 728,000. This includes 432,225 student visas and 94,253 visas for students’ dependants.

The Mighty Calendar

What’s happening today?

• Parliamentary elections in Republic of Ireland

• President Macron visits Notre Dame Cathedral, Paris ahead of its re-opening

• France, Canada, Switzerland, India GDP data (Q3 2024)

• France CPI inflation data (November)

• Eurozone CPI inflation data (November)

• Germany unemployment data (November)

• China manufacturing data (November)

Lookahead to the weekend

Saturday

• Emirates Dubai 7s Rugby Tournament continues (ends Sunday)

• 150th anniversary of birth of Winston Churchill

• Royal Observatory Greenwich, special late-night opening

Sunday

• Qatar Grand Prix

The Mighty Finale

🌤️Weather today

Sunny and dry for England for most of the day. High of 9oC and low of 6oC. Light rain in Belfast for most of the day. Dry in Edinburgh until the evening.

✏️Life coaching quote of the day

“The happiness of your life depends on the quality of your thoughts.” – Marcus Aurelius, Roman emperor and philosopher

Mighty takeaway: Think uplifting, supportive and helpful thoughts. Say no to the negative thoughts. It’s wholly within your power.

That’s about it for today and this week. We hope you enjoy the weekend and we’ll see you on Monday.

Adios!

The Mighty Memo team

Thursday, 28 November 2024

The Mighty Headlines

• Economics: Consumer confidence falls in Germany

• Business: EasyJet confirms profits of over £600 million

• Markets: Shares in Dell and HP fall by over 10 per cent

• Foreign Affairs: Donald Trump picks Jamieson Greer as trade negotiator

• Security and intelligence: Baltic and Nordic countries increase support for Ukraine

• Domestic politics: UK Government to impose levy on gambling industry

The Mighty Stats

• FTSE = 8,274.75 (up 0.2 per cent at Wednesday close)

• S&P500 = 5,998.74 (down 0.38 per cent at Wednesday close)

• Nasdaq = 19,060.48 (down 0.6 per cent at Wednesday close)

• CAC40 = 7,143.03 (down 0.72 per cent at Wednesday close)

• £1 = $1.27 / €1.20

*If you’ve been forwarded the Mighty Memo, subscribe for free at www.mightymemo.co.uk. You’ll receive the Mighty Memo directly in your inbox as soon as it’s published!*

The Mighty Detail

Economics: Consumer confidence in Germany is falling. Data from the GfK Consumer Climate Indicator fell by 4.9 points in a recent survey, indicating a decreased willingness to purchase products and an increased willingness to save. Private consumption, which provides around half of Germany’s GDP, is expected to drop further.

Business: As highlighted in the Mighty Memo earlier this week, EasyJet has confirmed increased profits for the year and record profits over the summer. The airline’s headline profit before tax increased by 34 per cent to £610 million. EasyJet’s package holiday division saw profits increase by 56 per cent to £190 million.

Markets: Shares in Dell and HP declined by more than 12 per cent and 11 per cent respectively yesterday. Both companies published reports which forecast that revenue and earnings in the next quarter would fall below analysts’ expectations.

Foreign Affairs: Donald Trump has chosen Jamieson Greer as the next United States Trade Representative (USTR). The USTR leads trade negotiations for the United States. Greer served as Chief of Staff to then USTR Robert Lighthizer in the first Trump administration. Donald Trump said that Greer would rein in the United States’ “massive trade deficit”.

Security and intelligence: At the Nordic-Baltic Summit in Sweden yesterday, countries agreed to give more ammunition to Ukraine. The countries also said that they were ready to increase sanctions against Russia and that they would investigate the suspected sabotage of underwater communication cables. Countries participating in the Summit included Denmark, Norway, Sweden, Finland, Estonia, Latvia and Poland.

Domestic politics: The UK Government has said that it is to impose a levy on gambling profits, following a consultation last year, and introduce online stake limits. Half of the funds generated from the levy will go towards healthcare, 30 per cent will go towards tackling “gambling harm” and 20 per cent will develop “bespoke research programmes on gambling” to inform future policy.

The Mighty Calendar

What’s happening today?

• United States public holiday (Thanksgiving)

• Spain, Germany, Japan CPI inflation data (November)

• Italy business confidence data (November)

• Eurozone consumer confidence data (November)

• Japan unemployment rate data (October)

• Japan, South Korea retail sales data (October)

• Japan, South Korea industrial production data (October)

Lookahead to tomorrow

• Parliamentary elections in Republic of Ireland

• President Macron visits Notre Dame Cathedral, Paris ahead of its re-opening

• France, Canada, Switzerland, India GDP data (Q3 2024)

• France CPI inflation data (November)

• Eurozone CPI inflation data (November)

• Germany unemployment data (November)

• China manufacturing data (November)

The Mighty Finale

🌤️Weather today

Basically dry and sunny in all of England. High of 6oC and low of 3oC. A small chance of rain in Belfast around lunchtime. Sunny and dry in Edinburgh.

✏️Life coaching quote of the day

“Step out of the history that is holding you back. Step into the new story you are willing to create.” – Oprah Winfrey

Mighty takeaway: Don’t let your past hold you back. You can choose at any moment to change your future.

That’s it for this Thursday. See you tomorrow morning.

Adios!

The Mighty Memo team

hello@mightymemo.co.uk

Wednesday, 27 November 2024

The Mighty Headlines

• Economics: Donald Trump to impose 25 per cent tariffs on Canada and Mexico

• Business: Smithfield market to close after 900 years

• Markets: Shares in European automakers fall after Trump tariffs news

• Foreign Affairs: Germany setting out plans for new bunkers

• Security and intelligence: Protestors clash with security forces in Pakistan

• Domestic politics: UK Government to invest £240 million to tackle unemployment

The Mighty Stats

• FTSE = 8,258.61 (down 0.4 per cent at Tuesday close)

• S&P500 = 6,021.63 (up 0.57 per cent at Tuesday close)

• Nasdaq = 19,174.30 (up 0.63 per cent at Tuesday close)

• CAC40 = 7,194.51 (down 0.87 per cent at Tuesday close)

• £1 = $1.25 / €1.20

*If you’ve been forwarded the Mighty Memo, subscribe for free at www.mightymemo.co.uk. You’ll receive the Mighty Memo directly in your inbox as soon as it’s published!*

The Mighty Detail

*STOP PRESS: In the early hours of this morning (2.00am GMT), a ceasefire between Israel and Lebanon came into effect to stop the fighting with Hezbollah in Lebanon. The deal was brokered by the United States.*

Economics: Donald Trump has confirmed that he will impose 25 per cent tariffs on all products coming from Mexico and Canada as well as an additional 10 per cent tariff on products coming from China. He said that the tariffs on Mexico and Canada would continue until crime and drugs entering the US from those two countries stopped.

Business: Smithfield market, London’s oldest meat market, is set to close after 900 years. Existing plans to relocate Smithfield and Billingsgate fish market to the east end of London were reviewed and voted down yesterday by the City of London Corporation on cost grounds. The market, which started in 1327, will continue to operate until 2028.

Markets: Shares in European car manufacturers fell yesterday following the news that Donald Trump would impose tariffs on Chinese, Mexican and Canadian goods. There are concerns that those tariffs could impact businesses in Europe by inflaming trade tensions. Volkswagen shares fell by over 2 per cent. Shares in Stellantis – which owns Chrysler, Citroën, Jeep and Fiat among others – fell by nearly 5 per cent.

Foreign Affairs: The German Government is making a list of public and private buildings that could be turned into bunkers. An app with a digital directory of emergency shelters is also planned. The Government has said the work will take time and has not given a timetable.

Security and intelligence: Supporters of the imprisoned former Pakistani Prime Minister, Imran Khan, have clashed with security forces in Islamabad. They are seeking Khan’s release from prison. At least four security personnel have been killed. The Pakistani Government has put in place a lockdown and blocked major roads into the capital city.

Domestic politics: The UK Government has said that it will invest £240 million to tackle the “root causes of unemployment”. To support more people into work, it added that it would improve mental health support, turn Jobcentres into a new jobs and careers service and provide a “Youth Guarantee” so that young people have access to education or training to help them find work.

The Mighty Calendar

What’s happening today?

• Sweden hosts the Nordic-Baltic Summit in Harpsund, Sweden

• Prime Minister’s Questions in UK Parliament

• South Korea interest rate decision

• Norway unemployment rate data (October)

• France consumer confidence data (November)

• Spain retail sales data (October)

• United States mortgage data (weekly)

• United States employment data (weekly)

• United States GDP data (Q3 2024)

• United States personal spending and personal income data (October)

• Company results from: Nationwide Building Society, EasyJet

Lookahead to tomorrow

• United States public holiday (Thanksgiving)

• Spain, Germany, Japan CPI inflation data (November)

• Italy business confidence data (November)

• Eurozone consumer confidence data (November)

• Japan unemployment rate data (October)

• Japan, South Korea retail sales data (October)

• Japan, South Korea industrial production data (October)

The Mighty Finale

🌤️Weather today

Light rain for most of the UK until the afternoon or early evening. High of 10oC and low of 1oC. Dry in Belfast. Light rain in Edinburgh until early afternoon.

✏️Life coaching quote of the day

“Treat yourself like someone you are responsible for helping.” – Jordan Peterson, psychologist and writer

Mighty takeaway: Why are we kind to others but then criticise ourselves? Be kind to yourself as well.

That’s about it for today’s edition. See you all tomorrow morning!

Adios!

The Mighty Memo team

Tuesday, 26 November 2024

The Mighty Headlines

• Economics: CBI says half of UK businesses will reduce jobs because of tax increases

• Business: Lower profits at Kingfisher because of UK and French government budgets

• Markets: FTSE 100 reaches monthly high

• Foreign Affairs: G7 countries to put pressure on China for supporting Russia

• Security and intelligence: UK Government warns about Russia’s cyber warfare

• Domestic politics: UK debates bill to ban smoking for people born after 2009

The Mighty Stats

• FTSE = 8,291.68 (up 0.36 per cent at Monday close)

• S&P500 = 5,987.37 (up 0.3 per cent at Monday close)

• Nasdaq = 19,054.84 (up 0.27 per cent at Monday close)

• CAC40 = 7,257.47 (up 0.034 per cent at Monday close)

• £1 = $1.26 / €1.20

• Second Trump Administration Cabinet Positions

*Donald Trump has now appointed his incoming Cabinet. These appointments will need to be approved by the US Senate. The full list is available below.*

Secretary of State: Marco Rubio, Florida Senator (2011 to now)

Defence: Pete Hegseth, Iraq and Afghanistan veteran and television presenter

Attorney General: Pam Bondi, former Attorney General of Florida (2011 to 2019)

Interior: Doug Burgum, Governor of North Dakota (2016 to now) and software entrepreneur

Homeland Security: Kristi Noem, Governor of South Dakota (2019 to now)

Health: Robert Kennedy Jr, environmental lawyer

Energy: Chris White, CEO of Liberty Energy

Veterans Affairs: Doug Collins, former Georgian Congressman (2013 to 2021)

Commerce: Howard Lutnick, financier

Transport: Sean Duffy, former Wisconsin Congressman (2011 to 2019)

Education: Linda McMahon, former head of the Small Business Administration (2017 to 2019)

Treasury: Scott Bessent, financier

Labour: Lori Chavez-DeRemer, Oregon Congresswoman (2023 to now)

*If you’ve been forwarded the Mighty Memo, subscribe for free at www.mightymemo.co.uk. You’ll receive the Mighty Memo directly in your inbox as soon as it’s published!*

The Mighty Detail

Economics: The Confederation of British Industry (CBI) has said that around half of British companies will cut jobs because of the tax increases announced in the Government’s budget. The Chancellor, Rachel Reeves, said yesterday that no-one had yet provided any alternatives to tax rises. The CBI is a membership organisation representing around 170,000 businesses.

Business: Kingfisher, which owns DIY stores B&Q in the UK and Castorama in France, has said that its profits will fall to between £510 million and £550 million this year because of customers’ uncertainty following government budgets in the UK and France. It also said that it would face additional costs of £31 million next year in the UK because of increases to national insurance and additional costs of £14 million in France because of changes to social taxes.

Markets: The FTSE 100 closed at its highest level in a month yesterday at 8,291.68. This was helped by an increase in the share price of banks, which has been buoyed by the news of financier Scott Bessent being picked as Donald Trump’s Treasury Secretary.

Foreign Affairs: G7 Foreign Ministers are set to put pressure on China following accusations that it is increasing support for Russia against Ukraine. G7 Foreign Ministers are meeting in Italy and a final statement will be published today. Last week, Germany’s Foreign Minister, Annalena Baerbock said that China’s support for Russia “will and must have consequences.”

Security and intelligence: The UK Government has issued a warning about Russia’s cyber attacks on the UK and NATO countries. The UK Government has called Russia’s cyber warfare a “hidden war” which is being used to destabilise Ukraine and countries supporting Ukraine.

Domestic politics: The Tobacco and Vapes Bill is being debated in Parliament today. The Bill seeks to gradually create a smoke-free generation. The sale of tobacco to those born on or after 1 January 2009 will be banned and those people will never be able to buy tobacco products legally.

The Mighty Calendar

What’s happening today?

• G7 Foreign Ministers meeting, Italy (ends today)

• Foreign Office Questions in UK Parliament

• Tobacco and Vapes Bill debated in UK Parliament

• New Zealand interest rate decision

• Japan CPI inflation data (October)

• Hong Kong trade data (October)

• United States house price data (September)

• United States consumer confidence data (November)

• Company results from: CrowdStrike, HP, Co-operative Bank, Compass Group 

Lookahead to tomorrow

• Sweden hosts the Nordic-Baltic Summit in Harpsund, Sweden

• Prime Minister’s Questions in UK Parliament

• South Korea interest rate decision

• Norway unemployment rate data (October)

• France consumer confidence data (November)

• Spain retail sales data (October)

• United States mortgage data (weekly)

• United States employment data (weekly)

• United States GDP data (Q3 2024)

• United States personal spending and personal income data (October)

• Company results from: Nationwide Building Society, EasyJet

The Mighty Finale

🌤️Weather today

Dry and sunny for most of England until evening. High of 9oC and low of 6oC down in London. Same weather in Belfast and Edinburgh.

✏️Life coaching quote of the day

“A bird sitting on a tree is never afraid of the branch breaking, because its trust is not on the branch, but on its own wings. Always believe in yourself.” – Charlie Wardle, coach and motivational speaker

Mighty takeaway: Trust that everything will be fine. You have already survived everything that’s happened to you.

That’s about it for this Tuesday. See you tomorrow and feel free to pass this newsletter on to others who may find it helpful!

Adios!

The Mighty Memo team

Monday, 25 November 2024

The Mighty Headlines

• Economics: Business activity falls in Eurozone in November

• Business: EasyJet to announce profits of nearly £600 million this year

• Markets: Dow Jones stock index reaches record high

• Foreign Affairs: COP29 announces £300 billion a year to tackle climate change

• Security and intelligence: Hezbollah fired 250 rockets into Israel yesterday

• Domestic politics: UK Government plans to tackle “bulging” benefits bill

The Mighty Stats

• FTSE = 8,262.08 (up 1.38 per cent at Friday close)

• S&P500 = 5,969.34 (up 0.35 per cent at Friday close)

• Nasdaq = 19,003.65 (up 0.16 per cent at Friday close)

• CAC40 = 7,255.01 (up 0.58 per cent at Friday close)

• £1 = $1.26 / €1.20

• UK opinion polling: Con / Lab / Reform = 27 / 29 / 17 per cent

• Second Trump Administration Cabinet Positions

*Donald Trump has now appointed his incoming Cabinet. These appointments will need to be approved the US Senate. The full list is available below.*

Secretary of State: Marco Rubio, Florida Senator (2011 to now)

Defence: Pete Hegseth, Iraq and Afghanistan veteran and television presenter

Attorney General: Pam Bondi, former Attorney General of Florida (2011 to 2019)

Interior: Doug Burgum, Governor of North Dakota (2016 to now) and software entrepreneur

Homeland Security: Kristi Noem, Governor of South Dakota (2019 to now)

Health: Robert Kennedy Jr, environmental lawyer

Energy: Chris White, CEO of Liberty Energy

Veterans Affairs: Doug Collins, former Georgian Congressman (2013 to 2021)

Commerce: Howard Lutnick, financier

Transport: Sean Duffy, former Wisconsin Congressman (2011 to 2019)

Education: Linda McMahon, former head of the Small Business Administration (2017 to 2019)

Treasury: Scott Bessent, financier

Labour: Lori Chavez-DeRemer, Oregon Congresswoman (2023 to now)

Housing: Scott Turner, former NFL player and Texas Congressman (2013 to 2017)

Agriculture: Brooke Rollins, President of the America First Policy Institute think tank

*If you’ve been forwarded the Mighty Memo, subscribe for free at www.mightymemo.co.uk. You’ll receive the Mighty Memo directly in your inbox as soon as it’s published!*

The Mighty Detail

Economics: Business activity in the Eurozone fell in November. Data from the Purchasing Managers Index shows that activity declined from 50 in October to 48.1 in November. Any number below 50 indicates a decline.

Business: EasyJet is set to report pre-tax profits of £595 million this year. This is an increase on the £455 million reported last year. EasyJet’s strong earnings have been driven in part by the success of its package holiday division. This has taken in over £180 million this year, up from £122 million last year.

Markets: The United States’ Down Jones stock index closed at a record high on Friday at 44,296.51. This is an increase of around 2 per cent in a week. The Russell 2000 stock index – which is focused on smaller companies – also did well, increasing by nearly 4.5 per cent in a week.

Foreign Affairs: At the close of the COP29 climate change summit yesterday, western countries agreed to pay $300 billion a year from 2035 for climate change adaptation in developing countries and for emissions reductions. On Friday, developing countries had walked out of the summit after western countries offered $250 billion a year.

Security and intelligence: Hezbollah, an Iranian-backed Islamist militant group in Lebanon,  fired around 250 rockets into Israel yesterday. This took place as negotiators continue to seek a cease-fire. Lebanon’s Prime Minister, Najib Mikati, condemned Hezbollah’s strikes.

Domestic politics: The UK Prime Minister, Sir Keir Starmer, has said that he will set out plans this week to “get to grips with the bulging benefits bill”. The Work and Pensions Secretary, Liz Kendall, also said yesterday that the Government had to solve the issues of “poor health, poor work and not enough people being able to earn to build a better life.”

The Mighty Calendar

What’s happening today?

• President Biden pardons Thanksgiving turkeys

• G7 Foreign Ministers meeting, Italy

• Home Office Questions in UK Parliament

• Singapore CPI inflation data (October)

• South Korea consumer confidence data (November)

• Canada manufacturing sales data (October)

• Company results from: Kingfisher

Lookahead to tomorrow

• Foreign Office Questions in UK Parliament

• Tobacco and Vapes Bill debated in UK Parliament

• New Zealand interest rate decision

• Japan CPI inflation data (October)

• Hong Kong trade data (October)

• United States house price data (September)

• United States consumer confidence data (November)

• Company results from: CrowdStrike, HP, Co-operative Bank, Compass Group 

The Mighty Finale

🌤️Weather today

Sunny spells and dry for most of England. High of 12oC and low of 5oC in London. Patchy rain in Belfast. Raining all day, with gusty winds in Edinburgh.

✏️Life coaching quote of the day

“You have exactly one life in which to do everything you’ll ever do. Act accordingly.” – Colin Wright, travel writer

Mighty takeaway: Don’t put on your dreams and goals on hold. Go for it!

That’s it for this Monday. If you wish, do pass this newsletter on to someone who might find it useful!

Adios!

The Mighty Memo team

Friday, 22 November 2024

The Mighty Headlines

• Economics: OECD says UK receives highest number of permanent migrants

• Business: Nissan cuts jobs in US and worldwide

• Markets: Nvidia share price falls despite positive Q3 results

• Foreign Affairs: US Justice Department seeks to break up Google

• Security and intelligence: Russia fires ballistic missiles and ICC issues arrest warrants

• Domestic politics: UK Environment Secretary talks about farmers’ inheritance tax

The Mighty Stats

• FTSE = 8,149.27 (up 0.79 per cent at Thursday close)

• S&P500 = 5,948.71 (up 0.53 per cent at Thursday close)

• Nasdaq = 18,972.42 (up 0.033 per cent at Thursday close)

• CAC40 = 7,213.32 (up 0.21 per cent at Thursday close)

• £1 = $1.26 / €1.20

• Second Trump Administration Cabinet Positions

*Matt Gaetz has withdrawn his name from consideration as Donald Trump’s attorney general, stating that he was “unfairly becoming a distraction” to the Trump/Vance Transition.*

Secretary of State: Marco Rubio, Florida Senator (2011 to now)

Defence: Pete Hegseth, Iraq and Afghanistan veteran and television presenter

Attorney General: Matt Gaetz, Florida Congressman (2017 to 2024)

Interior: Doug Burgum, Governor of North Dakota (2016 to now) and software entrepreneur

Homeland Security: Kristi Noem, Governor of South Dakota (2019 to now)

Health: Robert Kennedy Jr, environmental lawyer

Energy: Chris White, CEO of Liberty Energy

Veterans Affairs: Doug Collins, former Georgian Congressman (2013 to 2021)

Commerce: Howard Lutnick, financier

Transport: Sean Duffy, former Wisconsin Congressman (2011 to 2019)

Education: Linda McMahon, formerly of the Small Business Administration (2017 to 2019)

Treasury, Labour, Housing: vacant

*If you’ve been forwarded the Mighty Memo, subscribe for free at www.mightymemo.co.uk. You’ll receive the Mighty Memo directly in your inbox as soon as it’s published!*

The Mighty Detail

Economics: According to the OECD, the UK received the highest number of migrants settling permanently in the country relative to its population in 2023. In the absolute numbers, the UK was second only to the United States. The UK received 750,000 new arrivals, of whom half arrived under a Health and Care worker visa. The US received 1.2 million permanent migrants.

Business: Around 1,000 Nissan employees in the United States have accepted early retirement as the car maker restructures its business. In the six months to September, Nissan reported a 90 per cent drop in its operating profits and net income. The company is reducing its worldwide workforce by 9,000 people.

Markets: Shares in Nvidia dropped by over 1 per cent yesterday. Although its Q3 earnings results were better than expected, there is concern that revenue growth is slowing relative to previous quarters. Nvidia’s share price has increased by 190 per cent this year.

Foreign Affairs: The US Department of Justice is seeking to break up Google over concerns that it holds a monopoly on internet searches. Actions currently proposed include requiring Google to sell Chrome – the internet browser – and prevent Android phones from favouring the Google search engine. Google may also be prohibited from favouring its own platforms such as YouTube.

Security and intelligence: Russia has said that it has struck Ukraine with intermediate-range ballistic missiles in response to the use of “American and British long-range weaponry.” Separately, the International Criminal Court has issued arrest warrants for Israeli Prime Minister Netanyahu, former defence minister Yoav Gallant, and Hamas military commander Mohammed Deif for alleged war crimes.

Domestic politics: The UK Environment Secretary, Steve Reed, spoke to the Country Land and Business Association yesterday where he addressed concerns about plans to levy inheritance tax on agricultural estates. Reed said that although he had promised at the Conference last year not to levy the tax, he said he had not known the financial situation the Government would inherit. He added that “it's hard to be sorry for trying to make this country's economy work and our public services work again.”

The Mighty Calendar

What’s happening today?

• UK, Canada retail sales data (October)

• UK, United States, France, Germany, Eurozone manufacturing growth data (November)

• Canada retail sales data (September)

Lookahead to the weekend

Saturday

• Philadelphia Half Marathon, United States

• Free entry to Hampton Court Palace (Saturday and Sunday)

• Swedish Church Christmas Fair, Marylebone, London

Sunday

• Stir Up Sunday (the traditional day to make a Christmas Pudding!)

• England versus Japan, Autumn Rugby Nations Series

The Mighty Finale

🌤️Weather today

Sunny spells mixed with cloud in England. High of 7oC and low of 0oC. Same weather in Belfast but bright sunshine in Edinburgh.

✏️Life coaching quote of the day

“I say “Out” to every negative thought that comes to my mind. No person, place, or thing has any power over me, for I am the only thinker in my mind. I create my own reality and everyone in it.” – Louise Hay, motivational speaker

Mighty takeaway: What thoughts will you change to make your life better?

That’s it for this week. We hope you have an enjoyable weekend and see you again on Monday!

Au revoir!

The Mighty Memo team

Thursday, 21 November 2024

The Mighty Headlines

• Economics: European Central Bank warns of rising national debt

• Business: Ford to cut 4,000 jobs in Europe because of weak demand

• Markets: Shares in Comcast, a media company, rise following plans to sell subsidiaries

• Foreign Affairs: Pro-democracy activist Jimmy Lai testifies in Hong Kong

• Security and intelligence: British-made missiles used by Ukraine against Russia

• Domestic politics: UK Government outlines priorities for online safety

The Mighty Stats

• FTSE = 8,085.07 (down 0.17 per cent at Wednesday close)

• S&P500 = 5,895.01 (down 0.37 per cent at Wednesday close)

• Nasdaq = 18,869.64 (down 0.62 per cent at Wednesday close)

• CAC40 = 7,198.45 (down 0.43 per cent at Wednesday close)

• £1 = $1.26 / €1.20

• Second Trump Administration Cabinet Positions

Secretary of State: Marco Rubio, Florida Senator (2011 to now)

Defence: Pete Hegseth, Iraq and Afghanistan veteran and television presenter

Attorney General: Matt Gaetz, Florida Congressman (2017 to 2024)

Interior: Doug Burgum, Governor of North Dakota (2016 to now) and software entrepreneur

Homeland Security: Kristi Noem, Governor of South Dakota (2019 to now)

Health: Robert Kennedy Jr, environmental lawyer

Energy: Chris White, CEO of Liberty Energy

Veterans Affairs: Doug Collins, former Georgian Congressman (2013 to 2021)

Commerce: Howard Lutnick, financier

Transport: Sean Duffy, former Wisconsin Congressman (2011 to 2019)

Education: Linda McMahon, former head of the Small Business Administration (2017 to 2019)

Treasury, Labour, Housing: vacant

*If you’ve been forwarded the Mighty Memo, subscribe for free at www.mightymemo.co.uk. You’ll receive the Mighty Memo directly in your inbox as soon as it’s published!*

The Mighty Detail

Economics: The European Central Bank is warning that rising national debt levels in the Eurozone is reviving concerns about a debt crisis. It said that high national debt, high budget deficits, slow growth and fiscal slippage – where a government’s actual budget deficit is more than expected – are to blame.

Business: Ford is to cut 4,000 jobs in Europe by the end of 2027. The automaker has said that the decision is based on economic problems in Europe, weaker than expected sales of electric vehicles and increased competition. The job cuts represent around 14 per cent of Ford’s European workforce.

Markets: Shares in Comcast, the US media company, rose by over 1 per cent yesterday after it announced that it would sell of some of its networks including CNBC and MSNBC. Shares in chipmaker Nvidia fell by over 1 per cent ahead of its earnings results which were published after the markets closed.

Foreign Affairs: Jimmy Lai, a prominent pro-democracy activist in Hong Kong, testified in court yesterday for the first time since he was charged in 2020. Lai founded Apple Daily, a pro-democracy newspaper, and is charged with endangering National Security. He said in court that he wanted to give people information so that they could enjoy freedom.

Security and intelligence: British-made Storm Shadow missiles are reported to have been fired by Ukraine into Russia for the first time yesterday. This required approval from the UK and the US as the missiles use American-supplied navigation technology. Separately, the US closed its embassy in Kyiv yesterday as it anticipated a large-scale Russian attack on the city.

Domestic politics: The UK Technology Secretary, Peter Kyle, has set out the Government’s priorities on online safety for Ofcom. The regulator is preparing to implement the Online Safety Act next year. Priorities include seeking more transparency from tech companies and embedding safety in online platforms from the start. The UK Government has separately announced a study on the effects of smartphone and social media use on children.

The Mighty Calendar

What’s happening today?

• Transport Questions in UK Parliament

• Former UK Health Secretary Matt Hancock gives evidence to the Covid-19 Inquiry

• EU ministerial meeting on trade relations with the United States

• UK public sector borrowing data (October)

• United States jobless data (weekly)

• United States home sales data (October)

• Eurozone consumer confidence data (November)

• Japan CPI inflation data (October)

• Company results: Royal Mail Group, Intuit

Lookahead to tomorrow

• UK, Canada retail sales data (October)

• UK, United States, France, Germany, Eurozone manufacturing growth data (November)

• Canada retail sales data (September)

The Mighty Finale

🌤️Weather today

A mixture of sun and cloud in England but dry. High of 4oC and low of -1oC. Rain in the afternoon in Belfast. Sunny all day in Edinburgh!

✏️Life coaching quote of the day

“You don't have to get it perfect, you just have to get it going. Babies don't walk the first time they try, but eventually they get it right.” – Jack Canfield, motivational speaker

Mighty takeaway: Never stop trying. Eventually, if you persist, you will get to where you want to be.

That’s about it for today’s edition. If you find this newsletter helpful, do pass it on to someone who might find it helpful too.

Adios!

The Mighty Memo team

Wednesday, 20 November 2024

The Mighty Headlines

• Economics: Inflation in Eurozone increases to 2 per cent

• Business: Mulberry cuts a quarter of staff as sales drop

• Markets: Nvidia shares rise ahead of earnings report today

• Foreign Affairs: Russian Government lowers threshold for nuclear weapons response

• Security and intelligence: The Philippines and ‎the US sign intelligence sharing pact

• Domestic politics: UK Prime Minister launches Global Clean Power Alliance

The Mighty Stats

• FTSE = 8,099.02 (down 0.13 per cent at Tuesday close)

• S&P500 = 5,916.98 (up 0.4 per cent at Tuesday close)

• Nasdaq = 18,987.47 (up 1.04 per cent at Tuesday close)

• CAC40 = 7,229.64 (down 0.67 per cent at Tuesday close)

• £1 = $1.27 / €1.20

• Second Trump Administration Cabinet Positions

Secretary of State: Marco Rubio, Florida Senator (2011 to now)

Defence: Pete Hegseth, Iraq and Afghanistan veteran and television presenter

Attorney General: Matt Gaetz, Florida Congressman (2017 to 2024)

Interior: Doug Burgum, Governor of North Dakota (2016 to now) and software entrepreneur

Homeland Security: Kristi Noem, Governor of South Dakota (2019 to now)

Health: Robert Kennedy Jr, environmental lawyer

Energy: Chris White, CEO of Liberty Energy

Veterans Affairs: Doug Collins, former Georgian Congressman (2013 to 2021)

Commerce: Howard Lutnick, financier

Transport: Sean Duffy, former Wisconsin Congressman (2011 to 2019)

Treasury, Labour, Housing: vacant

*If you’ve been forwarded the Mighty Memo, subscribe for free at www.mightymemo.co.uk. You’ll receive the Mighty Memo directly in your inbox as soon as it’s published!*

The Mighty Detail

Economics: Inflation in the Eurozone increased to 2 per cent in October. This is an increase from the 1.7 per cent recorded in September but down from the 2.9 per cent rate of inflation recorded in October 2023.

Business: Luxury British retail company, Mulberry is cutting around a quarter of its workforce. This follows a 19 per cent drop in its revenues in the sixth months to September. Last month, Mulberry refused a £111 million takeover offer by ‎Mike Ashley's Frasers Group.

Markets: Shares in chipmaker Nvidia rose by 2 per cent yesterday. The rise came as investors look ahead to the company's quarterly results. The market more broadly took little account of rising tensions with Russia, with the Nasdaq and S&P 500 both ending the day in positive territory.

Foreign Affairs: The Russian President, Vladimir Putin, has formally lowered the threshold at which the Russian Government would consider using nuclear weapons. This means it may now use nuclear weapons in response to a conventional weapons attack by any country supported by a nuclear power – a tacit reference to US support for Ukraine.

Security and intelligence: The Governments of the Philippines and the United ‎States have signed a new agreement allowing them to share military intelligence with each other. The deal has immediate effect. The pact comes at a time of heightened tension in the South China Sea, parts over which China and the Philippines both claim sovereignty.

Domestic politics: The UK Prime Minister, Sir Keir Starmer, launched the Global Clean Power Alliance in Brazil yesterday. The initiative, which has been joined by 12 countries, aims to help countries share expertise in moving to green energy. Separately, in the UK, around 10,000 farmers protested against the Government's plans to impose inheritance tax on agricultural estates.

The Mighty Calendar

What’s happening today?

• Prime Minister’s Questions in UK Parliament

• UK CPI inflation data (October)

• UK house price data (October)

• Eurozone construction output data (September)

• United States mortgage applications data (weekly)

• Company results from: Nvidia, Severn Trent, British Land

Lookahead to tomorrow

• Former UK Health Secretary Matt Hancock gives evidence to the Covid-19 Inquiry

• EU ministerial meeting on trade relations with the United States

• UK public sector borrowing data (October)

• United States jobless data (weekly)

• United States home sales data (October)

• Eurozone consumer confidence data (November)

• Japan CPI inflation data (October)

• Company results: Royal Mail Group, Intuit

The Mighty Finale

🌤️Weather today

Sunny and dry in the south of the UK. High of 5oC and low of -2oC. Sunny and dry as well in Belfast and Edinburgh.

✏️Life coaching quote of the day

“If you go out looking for friends, you're going to find they are very scarce. If you go out to be a friend, you'll find them everywhere.” – Zig Ziglar, motivational speaker

Mighty takeaway: One to ponder for today – an interesting reverse take.

That’s about it for today’s edition. Thank you so much for reading to the end! If you like what you read or don’t like it at all, let us know. And do pass this newsletter on to someone who might find it useful.

Adios!

The Mighty Memo team

Tuesday, 19 November 2024

The Mighty Headlines

• Economics: Price of UK homes for sale falls in October

• Business: Cost of olive oil to fall significantly after increase of 150 per cent

• Markets: Tesla shares rise by over 5 per cent yesterday

• Foreign Affairs: Russia vetoes UN Security Council resolution to pause Sudan war

• Security and intelligence: Russia warns against Ukraine’s use of US weapons

• Domestic politics: UK Prime Minister talks trade and human rights with China

The Mighty Stats

• FTSE = 8,109.32 (up 0.57 per cent at Monday close)

• S&P500 = 5,893.62 (up 0.39 per cent at Monday close)

• Nasdaq = 18,791.81 (up 0.6 per cent at Monday close)

• CAC40 = 7,278.23 (up 0.12 per cent at Monday close)

• £1 = $1.27 / €1.20

• Second Trump Administration Cabinet Positions

Secretary of State: Marco Rubio, Florida Senator (2011 to now)

Defence: Pete Hegseth, Iraq and Afghanistan veteran and television presenter

Attorney General: Matt Gaetz, Florida Congressman (2017 to 2024)

Interior: Doug Burgum, Governor of North Dakota (2016 to now) and software entrepreneur

Homeland Security: Kristi Noem, Governor of South Dakota (2019 to now)

Health: Robert Kennedy Jr, environmental lawyer

Energy: Chris White, CEO of Liberty Energy

Veterans Affairs: Doug Collins, former Georgian Congressman (2013 to 2021)

Treasury, Commerce, Labour, Housing, Transport: vacant

*If you’ve been forwarded the Mighty Memo, subscribe for free at www.mightymemo.co.uk. You’ll receive the Mighty Memo directly in your inbox as soon as it’s published!*

The Mighty Detail

Economics: The average price of new properties coming to the market in the UK fell by 1.4 per cent in October to £366,952. This is greater than the usual drop in October of around 0.8 per cent. Over a year, however, home asking prices are 1.2 per cent higher and the volume of sales has increased by 26 per cent.

Business: The world’s largest producer of olive oil, Deoleo, has said the price of olive oil is set to fall in the coming months on the expectation of a better harvest this year. This follows two years of drought which reduced harvests in Spain – the home of nearly 50 per cent of the world’s olive oil production. In January, olive oil prices were 150 per cent higher than at the end of 2021.

Markets: Tesla shares increased by over 5 per cent during trading yesterday. This follows reports that the incoming Trump administration may seek to reduce regulations on self-driving vehicles.

Foreign Affairs: Russia has vetoed a UN Security Resolution calling for a cease-fire in Sudan. The Sudanese army has been at war with Sudanese paramilitary forces since April 2023 as both groups struggle for control of the country. The UN says that Sudan is on the brink of famine. Russia said it applied its veto because “solely the government of Sudan” should be responsible for what happens in Sudan.

Security and intelligence: Russia has said that President’s Biden decision to allow Ukraine to use American long-range weapons against Russia adds “fuel to the fire” and risks escalating tensions higher. Ukraine may use the weapons in the coming days. Meanwhile, there are reports that North Korea may deploy 100,000 troops to support the Russian military against Ukraine.

Domestic politics: The UK’s Prime Minister met President Xi of China yesterday at the G20 summit in Brazil. As well as trade, the Prime Minister Starmer raised the issues of Taiwan, human rights, the South China Sea, the UK and China’s shared interest in Hong Kong and the deterioration in prison of Jimmy Lai, a British citizen and pro-democracy activist in Hong Kong. At this point, Chinese officials pushed British reporters out of the room.

The Mighty Calendar

What’s happening today?

• Farmers’ protest in London

• Volodymyr Zelensky addresses the European Parliament

• Health Questions in UK Parliament

• UK, Italy, Germany, France car registration data (October)

• Eurozone, Canada CPI inflation data (October)

• Japan trade data (October)

• Company results from: Walmart, ThyssenKrupp, Imperial Tobacco

Lookahead to tomorrow

• Prime Minister’s Questions in UK Parliament

• UK CPI inflation data (October)

• UK house price data (October)

• Eurozone construction output data (September)

• United States mortgage applications data (weekly)

• Company results from: Nvidia, Severn Trent, British Land

The Mighty Finale

🌤️Weather today

Rain in southern England tomorrow. High of 6oC and low of -1oC in London. Sunny spells in Belfast and Edinburgh.

✏️Life coaching quote of the day

“Either you run the day or the day runs you.” – Jim Rohn, motivational speaker

Mighty takeaway: Organise your time so that you get the most out of every day. Don’t waste your time on the unimportant stuff.

That’s about it for today’s edition. See you tomorrow!

Adios!

The Mighty Memo team

hello@mightymemo.co.uk

Monday, 18 November 2024

The Mighty Headlines

• Economics: Starmer to meet China’s President Xi today to discuss trade

• Business: General Motors to fire 1,000 staff

• Markets: Pharmaceutical stocks fell on Friday after Donald Trump appointed RKF Jr

• Foreign Affairs: Indian authorities introduce restrictions as smog worsens

• Security and intelligence: Biden approves long-range missiles for Ukraine

• Domestic politics: Farmers protest at Welsh Labour Conference

The Mighty Stats

• FTSE = 8,063.61 (down 0.094 per cent at Friday close)

• S&P500 = 5,870.62 (down 1.32 per cent at Friday close)

• Nasdaq = 18,680.12 (down 2.24 per cent at Friday close)

• CAC40 = 7,269.63 (down 0.58 per cent at Friday close)

• £1 = $1.26 / €1.20

• UK: Con / Lab / Reform = 27 / 28 / 17 per cent

• Second Trump Administration Cabinet Positions

Secretary of State: Marco Rubio, Florida Senator (2011 to now)

Defence: Pete Hegseth, Iraq and Afghanistan veteran and television presenter

Attorney General: Matt Gaetz, Florida Congressman (2017 to 2024)

Interior: Doug Burgum, Governor of North Dakota (2016 to now) and software entrepreneur

Homeland Security: Kristi Noem, Governor of South Dakota (2019 to now)

Health: Robert Kennedy Jr, environmental lawyer

Energy: Chris White, CEO of Liberty Energy

Veterans Affairs: Doug Collins, former Georgian Congressman (2013 to 2021)

Treasury, Commerce, Labour, Housing, Transport: vacant

*If you’ve been forwarded the Mighty Memo, subscribe for free at www.mightymemo.co.uk. You’ll receive the Mighty Memo directly in your inbox as soon as it’s published!*

The Mighty Detail

Economics: UK Prime Minister, Sir Keir Starmer, is to meet President Xi of China at the G20 in Brazil today. The Prime Minister has said that China is one of the UK’s biggest trading partners and that he would have “serious, pragmatic” discussions with Xi. This is a change from the more distant relationship between the UK and China under the previous Government.

Business: General Motors is to fire 1,000 around workers to decrease costs and increase efficiency. Most of the roles will be white collar roles rather than manufacturing roles. GM’s share price fell by 1 per cent on Friday following the news.

Markets: Pharmaceutical stocks fell on Friday after Donald Trump announced that he had chosen Robert Kennedy Jr to be his Health Secretary. Kennedy, who is sceptical about vaccines, is also an opponent of “Big Pharma” – large and influential pharmaceutical companies. Amgen fell by over 4 per cent and Moderna by over 7 per cent.

Foreign Affairs: Authorities in New Delhi, India are tightening restrictions on vehicles and construction activity as pollution in the city intensifies. On Thursday last week, pollution was 50 times greater than what is considered safe by the World Health Organisation.

Security and intelligence: Yesterday, President Biden authorised Ukraine’s use of American long-range missiles to strike deeper into Russia – a long-term request of Ukraine. Separately, at the Asia-Pacific Economic Cooperation Summit in Peru, President Biden met President Xi of China and reportedly urged China to end its military activity around Taiwan.

Domestic politics: At the Welsh Labour Party Conference in Llandudno, farmers protested against the Government’s plan to impose inheritance tax of 20 per cent on agricultural estates over £1 million. Further protests are expected in London on Tuesday.

The Mighty Calendar

What’s happening today?

• Mexico public holiday (Revolution day)

• G20 summit in Brazil

• Defence Questions in UK Parliament

• Eurozone trade data (September)

• Canada housing data (October)

Lookahead to tomorrow

• Farmers’ protest in London

• Volodymyr Zelensky addresses the European Parliament

• Health Questions in UK Parliament

• UK, Italy, Germany, France car registration data (October)

• Eurozone, Canada CPI inflation data (October)

• Japan trade data (October)

• Company results from: Walmart, ThyssenKrupp, Imperial Tobacco

The Mighty Finale

🌤️Weather today

Rain in the south of England, dry elsewhere. High of 8oC and low of 6oC. Rain in Belfast. Sunny spells in Edinburgh.

✏️Life coaching quote of the day

“To be yourself, in a world that is constantly trying to make you something else, is the greatest accomplishment.” – Ralph Waldo Emerson, writer and philosopher

Mighty takeaway: This is quite profound for a Monday morning but perhaps one to keep with you for the rest of the week.

That’s about it for today. See you tomorrow!

Adios!

The Mighty Memo team

hello@mightymemo.co.uk

Friday, 15 November 2025

The Mighty Headlines

·       Economics: Bank of England Governor warns against retaliatory tariffs

·       Business: Disney shows positive earnings results

·       Markets: US markets close down as Fed Chair signals caution on interest rate cuts

·       Foreign Affairs: Donald Trump chooses Robert Kennedy Jr as Health Secretary

·       Security and intelligence: Suicide bomber in Brazil tries to blow up Supreme Court

·       Domestic politics: UK Government to legislate against new coal mines

The Mighty Stats

·       FTSE = 8,071.19 (up 0.51 per cent at Thursday close)

·       S&P500 = 5,949.17 (down 0.6 per cent at Thursday close)

·       Nasdaq = 19,107.65 (down 0.64 per cent at Thursday close)

·       CAC40 = 7,311.80 (up 1.32 per cent at Thursday close)

·       £1 = $1.27 / €1.20

·       US swing states results

*The Republican Party has won control of the executive and the legislature. It has the presidency as well as a majority in the Senate and the House of Representatives. There are still 7 seats in the House of Representatives which have not been decided.*

Presidency Trump / Harris

·       Electoral College: 312 votes / 226 votes

·       Popular vote: 75.8 million / 72.8 million

Senate Republican / Democrat

·       Senate seats: 53 / 47

House of Representatives Republican / Democrat

·       House seats: 218 / 209

Governors Republican / Democrat

·       Governors: 27 / 23

*If you’ve been forwarded the Mighty Memo, subscribe for free at www.mightymemo.co.uk. You’ll receive the Mighty Memo directly in your inbox as soon as it’s published!*

The Mighty Detail

Economics: The Governor of the Bank of England, Andrew Bailey, has stressed the importance of not retaliating against potential new tariffs around the world. Bailey said “let’s remember the importance of openness” and that openness is an “important determinant of productivity”.

Business: Disney’s latest results show sales rising by 6 per cent to $22.6 billion in its fourth quarter. The films, Inside Out 2 and Deadpool & Wolverine, helped the company achieve its positive results. Disney+ also did well, with an operating profit of $253 million in the last quarter. This compares to a loss of $420 million at the same time last year.

Markets: US stocks fell slightly yesterday after the Chairman of the US Federal Reserve, Jerome Powell, indicated caution on the speed of future interest rate cuts. Speaking in Texas, Powell said that “the strength we are currently seeing in the economy gives us the ability to approach our decisions carefully”.

Foreign Affairs: Donald Trump has chosen Robert F. Kennedy Jr as his Health Secretary. Kennedy has said that he would return US health agencies to evidence-based science. Kennedy has also had a history of spreading conspiracy theories about vaccines, cancer and autism. He started his career as an environmental lawyer.

Security and intelligence: Brazilian Supreme Court Justice, Alexandre de Moraes, has said that a suicide bomber who killed himself outside Brazil’s supreme court on Wednesday had wanted to blow up the building itself. This has raised security concerns as Brazil prepares to host the G20 Summit next week.

Domestic politics: The UK Government is to legislate to ban the licensing of new coal mines in the UK. The UK stopped using coal to generate power last month and the Government has said that the UK is in a “prime position to lead the way in phasing out coal power around the world.”

The Mighty Calendar

What’s happening today?

o   Brazil, India public holidays

o   Peru hosts the Asia-Pacific Economic Cooperation leaders’ summit (ends Saturday)

o   UK construction, industrial production, manufacturing production data (September)

o   UK GDP data (Q3 2024)

o   France, Italy CPI inflation data (October)

o   United States retail sales data (October)

o   United States industrial production, manufacturing production data (October)

Lookahead to the weekend

Saturday

o   England versus South Africa Rugby Autumn International, Twickenham

o   Celebration of 50 years of the Rubik’s cube, Hanover Square, London

o   Scottish Liberal Democrat Conference

Sunday

o   Senegal holds snap Parliamentary elections

o   Men’s ATP Tennis finals, Italy

o   Men’s DP World Tour Golf Championship final, Dubai

The Mighty Finale

🌤️Weather today

Sunny intervals today in London. High of 11oC and low of 4oC. Nice for November! Light cloud in Belfast and Edinburgh.

✏️Life coaching quote of the day

“To get what you want, you have to deserve what you want. The world is not yet a crazy enough place to reward a whole bunch of undeserving people.” – Charlie Munger, investor

Mighty takeaway: Are you putting in the effort and taking the action to get to where you want to be? Focus on your goals and dreams and take steps every day towards achieving them.

That’s it for this week. We hope you have an enjoyable weekend and have time to rest, relax and recharge for all the opportunities that will be coming your way next week.

Bye!

The Mighty Memo team

hello@mightymemo.co.uk

Thursday, 14 November 2024

The Mighty Headlines

·       Economics: French unemployment rises to 7.4 per cent

·       Business: Homebase enters into administration

·       Markets: European defence stocks rise in value following Donald Trump victory

·       Foreign Affairs: Donald Trump announces key Cabinet positions

·       Security and intelligence: Ukraine optimistic about long-range attacks on Russia

·       Domestic politics: UK Chancellor to create pension “megafunds”

The Mighty Stats

·       FTSE = 8,030.33 (up 0.057 per cent at Wednesday close)

·       S&P500 = 5,985.38 (up 0.023 per cent at Wednesday close)

·       Nasdaq = 19,230.74 (down 0.26 per cent at Wednesday close)

·       CAC40 = 7,216.83 (down 0.14 per cent at Wednesday close)

·       £1 = $1.27 / €1.20

·       US election results

*The Republican Party is one seat away from gaining control of the House of Representatives. A total of 218 seats is needed to gain control of the House. If they achieve this, they will have full control of the legislature – the House and the Senate – and of the executive.*

Presidency Trump / Harris

·       Electoral College: 312 votes / 226 votes

·       Popular vote: 74.6 million / 70.9 million

Senate Republican / Democrat

·       Senate seats: 53 / 47

House of Representatives Republican / Democrat

·       House seats: 217 / 202

Governors Republican / Democrat

·       Governors: 27 / 23

*If you’ve been forwarded the Mighty Memo, subscribe for free at www.mightymemo.co.uk. You’ll receive the Mighty Memo directly in your inbox as soon as it’s published!*

The Mighty Detail

Economics: Unemployment in France increased by 35,000 people in Q3 2024 and the rate of unemployment rose from 7.3 per cent to 7.4 per cent. Youth unemployment stood at 19.7 per cent in Q3, an increase of 1.8 per cent on the previous quarter.

Business: UK DIY store chain, Homebase, has fallen into administration. The owner of homeware store chain, The Range, is buying up to 70 shops. It is also buying the Homebase brand. A total of 49 shops do not yet have a buyer and will continue to trade for the time being.

Markets: European defence stocks have increased in value significantly since the election of Donald Trump as the next US President. Trump has repeatedly made clear that he believes the US spends too much on NATO. Shares in Italian defence contractor, Leonardo SpA, have risen by 17 per cent in the last week. German arms manufacturer Rheinmetall’s stock has increased by 22 per cent while shares in German defence tech firm, Hensoldt, have increased by 18 per cent.

Foreign Affairs: Donald Trump has been selecting the members of his new government which includes his one-time opponent in the Republican primaries, Marco Rubio, as Secretary of State;

Tulsi Gubbard, a former Democrat Congresswoman turned Republican, as Director of National Intelligence; and Matt Gaetz, an outspoken Florida Congressman, as Attorney General.

Security and intelligence: After meeting with US Secretary of State, Antony Blinken, the Ukrainian Foreign Minister says that he is “cautiously optimistic” that Ukraine will be allowed to use long-range missiles to attack deep within Russia. NATO allies, including the United States, have previously been reticent to support long-range attacks for fear of escalating the conflict.

Domestic politics: The UK Chancellor, Rachel Reeves, has announced plans to create pension “megafunds” to provide “around £80 billion of investment for infrastructure projects”. The funds will be created by merging existing council pension schemes and assets.

The Mighty Calendar

What’s happening today?

o   King Charles’s birthday

o   Environment, Food and Rural Affairs Questions in UK Parliament

o   UK Chancellor delivers keynote speech (“Mansion House” speech)

o   Eurozone employment data (Q3 2024)

o   Eurozone, Japan GDP data (Q3 2024)

o   Eurozone, Japan industrial production data (September)

o   China industrial production data (October)

o   China retail sales data (October)

o   China unemployment rate data (October)

o   United States jobless claims (weekly)

o   South Korea trade data (October)

o   Company results from: E.ON, Disney, WHSmith, Siemens, Swiss Re, Burberry

Lookahead to tomorrow

o   Brazil, India public holidays

o   Peru hosts the Asia-Pacific Economic Cooperation leaders’ summit (ends Saturday)

o   UK construction, industrial production, manufacturing production data (September)

o   UK GDP data (Q3 2024)

o   France, Italy CPI inflation data (October)

o   United States retail sales data (October)

o   United States industrial production, manufacturing production data (October)

The Mighty Finale

🌤️Weather today

Sunny spells in London. High of 12oC and low of 3oC. Getting chilly! Cloudy in Belfast. Sunny spells in Edinburgh.

✏️Life coaching quote of the day

“Too often, people get stuck in a state of over-thinking. The result if that they never reach a decision.” – Steve Backley, athlete

Mighty takeaway: Hesitation can sometimes be helpful but you need to take action at some point or nothing will ever change for you.

That’s it for this morning. Thanks for reading and we’ll see you again tomorrow.

Bye!

The Mighty Memo team

hello@mightymemo.co.uk

Wednesday, 13 November 2024

The Mighty Headlines

• Economics: China increases vehicles sales for first time in 5 months

• Business: Shell wins landmark climate change legal case

• Markets: US stocks fall in value after week-long rally

• Foreign Affairs: Germany to hold new elections in February 2025

• Security and intelligence: US Secretary of State in Brussels for urgent Ukraine meetings

• Domestic politics: UK strengthens carbon emissions reduction target

The Mighty Stats

• FTSE = 8,025.77 (down 1.22 per cent at Tuesday close)

• S&P500 = 5,983.99 (down by 0.29 per cent at Tuesday close)

• Nasdaq = (down by 0.09 per cent at Tuesday close)

• CAC40 = 7,226.98 (down 2.69 per cent at Tuesday close)

• £1 = $1.27 / €1.20

• US election results

*Donald Trump is due to meet President Biden at the White House today to discuss the transition of power. The Republican Party currently looks likely to take control of the House of Representatives. A total of 218 seats is required to win control of the House of Representatives.*

Presidency Trump / Harris

·       Electoral College: 312 votes / 226 votes

·       Popular vote: 75.1 million / 71.8 million

Senate Republican / Democrat

·       Senate seats: 53 / 47

House of Representatives Republican / Democrat

·       House seats: 214 / 205

Governors Republican / Democrat

·       Governors: 27 / 23

*If you’ve been forwarded the Mighty Memo, subscribe for free at www.mightymemo.co.uk. You’ll receive the Mighty Memo directly in your inbox as soon as it’s published!*

The Mighty Detail

Economics: New Chinese vehicle sales rose for the first time in five months in October with exports standing at around 3.05 million vehicles. This is an increase of 7 per cent on the month before. Nearly 50 per cent of shipments were of electric, plug-in hybrid and fuel cell vehicles.

Business: Shell has won a landmark case in the Dutch Court of Appeal against reducing its carbon emissions. A lower court had previously ruled that Shell was required to cut its carbon emissions by 45 per cent by 2030 compared to 2019 levels. The Court of Appeal has now annulled the decision saying that “There is currently insufficient consensus in climate science on a specific reduction percentage to which an individual company like Shell should adhere.”

Markets: Stocks in the US have fallen after the surge in valuations that followed Donald Trump’s election. Shares in Tesla, which had increased by 31 per cent since the election, fell by 6 per cent. Shares in Trump Media fell by nearly 9 per cent. Bitcoin, meanwhile, increased to over $90,000.

Foreign Affairs: Germany is to hold federal elections on 23 February 2025 following agreement by the leaders of the country’s main political parties. This follows the collapse of the current ruling coalition led by Chancellor Olaf Scholz. A vote of confidence will be held on the 16th December to set the path for the February election.

Security and intelligence: The US Secretary of State, Antony Blinken, is in Brussels today to hold urgent talks with EU and NATO leaders on Ukraine. The talks are due to focus on how the US can increase support for Ukraine before the arrival of the Trump administration in January.

Domestic politics: At the COP29 climate summit in Azerbaijan, the Prime Minister announced a new target to reduce UK carbon emissions by 81 per cent by 2035. Then Prime Minister, Boris Johnson, had announced plans in 2021 to reduce emissions by 78 per cent by 2035.

The Mighty Calendar

What’s happening today?

• Presidential election in Somaliland

• Prime Minister’s Questions in UK Parliament

• France, Australia unemployment rate (Q3 2024)

• United States CPI inflation data (October)

• Company results from: Scottish & Southern Energy, RWE, Fuller

Lookahead to tomorrow

• King Charles’s birthday

• Environment, Food and Rural Affairs Questions in UK Parliament

• UK Chancellor delivers keynote speech (“Mansion House” speech)

• Eurozone employment data (Q3 2024)

• Eurozone, Japan GDP data (Q3 2024)

• Eurozone, Japan industrial production data (September)

• China industrial production data (October)

• China retail sales data (October)

• China unemployment rate data (October)

• United States jobless claims (weekly)

• South Korea trade data (October)

• Company results from: E.ON, Disney, WHSmith, Siemens, Swiss Re, Burberry 

The Mighty Finale

🌤️Weather today

Sunny and dry in London. High of 12oC and low of 5oC. Cloudy in Belfast. Sunny spells in Edinburgh.

✏️Life coaching quote of the day

“Our greatest weakness lies in giving up. The most certain way to succeed is always to try just one more time.” – Thomas Edison, inventor

Mighty takeaway: Nothing more to add!

That’s about it for today’s edition. See you tomorrow!

Adios!

The Mighty Memo team

hello@mightymemo.co.uk

Tuesday, 12 November 2024

The Mighty Headlines

• Economics: China trade surplus reaches nearly $1 trillion

• Business: Alitalia to dismiss over 2,000 employees

• Markets: Bitcoin reaches another record high of over $85,000

• Foreign Affairs: Taliban said it will seek closer ties with the US

• Security and intelligence: Israel claims responsibility for pager attacks

• Domestic politics: UK Health Secretary proposed reduction in agency staff

The Mighty Stats

• FTSE = 8,125.19 (up 0.65 per cent at Monday close)

• S&P500 = 6,001.35 (up 0.097 per cent at Monday close)

• Nasdaq = 19,298.76 (up 0.062 per cent at Monday close)

• CAC40 = 7,426.88 (up 1.2 per cent at Monday close)

• £1 = $1.29 / €1.21

• US election results

*Donald Trump is due to meet President Biden at the White House tomorrow, Wednesday 13th November to discuss the transition of power. The Republican Party currently looks likely to take control of the House of Representatives. A total of 218 seats is required to win control of the House of Representatives.*

Presidency Trump / Harris

·       Electoral College: 312 votes / 226 votes

·       Popular vote: 74.8 million / 71.2 million

Senate Republican / Democrat

·       Senate seats: 53 / 46

House of Representatives Republican / Democrat

·       House seats: 214 / 203

Governors Republican / Democrat

·       Governors: 27 / 23

*If you’ve been forwarded the Mighty Memo, subscribe for free at www.mightymemo.co.uk. You’ll receive the Mighty Memo directly in your inbox as soon as it’s published!*

The Mighty Detail

Economics: China’s trade surplus with the rest of the world is set to reach nearly $1 trillion this year. This means that China exports nearly $1 trillion more in goods and services than it imports from the rest of the world. This imbalance risks provoking a trade war with other countries, particularly in the US under President-elect Donald Trump who believes the situation is unfair.

Business: The bankrupt Italian airline Alitalia is to dismiss its remaining 2,059 employees after merger talks between its successor, ITA Airways, and Lufthansa stalled. The Italian Government, which owns ITA Airways, has refused Lufthansa’s offer to adjust the price for a 41 per cent stake in ITA Airways.

Markets: The value of Bitcoin saw another significant rise during trading yesterday, reaching another all-time high of over $85,000. The value of all cryptocurrencies now stands at $2.69 trillion and exceeds the value of all the companies in the FTSE 100 which have a combined value of $2.09 trillion.

Foreign Affairs: The Taliban has said that it will seek closer ties with the United States following Donald Trump’s election. The head of the Islamist militant group’s political office in Qatar, Suhail Shaheen, said the Taliban is “open to positive engagement” and that “It seems Mr Trump is more pragmatic and I think we need to be realistic in solution issues.”

Security and intelligence: The Israeli Government has now claimed responsibility for the pager attacks that took place against Hezbollah members in Lebanon in September. The pager attacks injured nearly 3,000 people and killed 37 people. Ahead of the Cabinet Meeting on Sunday, Netanyahu also said that he sees “eye-to-eye” with Donald Trump “on the Iranian threat in all its aspects”.

Domestic politics: The UK Health Secretary, Wes Streeting, has proposed banning the NHS from using agency staff to fill lower-skilled temporary jobs such as healthcare assistants and domestic support workers. NHS spent £3 billion on agency staff last year and this measure is intended to reduce this spending in the future.

The Mighty Calendar

What’s happening today?

• Energy Questions in UK Parliament

• COP29 Climate Change Summit begins, Azerbaijan (ends 22nd November)

• UK average earnings data (September)

• Germany CPI inflation data (October)

• Japan PPI inflation data (October)

• Company results from: Spotify, Vodafone, AstraZeneca, SoftBank

Lookahead to tomorrow

• Presidential election in Somaliland

• Prime Minister’s Questions in UK Parliament

• France, Australia unemployment rate (Q3 2024)

• United States CPI inflation data (October)

• Company results from: Scottish & Southern Energy, RWE, Fuller

The Mighty Finale

🌤️Weather today

Sunny and dry in London. So nice! High of 12oC and low of 7oC. Misty in Belfast but dry. Sunny in Edinburgh. Another great weather day!

✏️Life coaching quote of the day

“The most important thing is to enjoy your life, to be happy, it's all that matters.” – Audrey Hepburn, actress

Mighty takeaway: This is a very simple quote but absolutely true. At the end of the day, what else matters?

That’s all for this Tuesday. See you tomorrow!

Adios!

The Mighty Memo team

hello@mightymemo.co.uk

Monday, 11 November 2024

Today is Armistice Day. There will be a two minutes’ silence across the country at 11.00am

The Mighty Headlines

·       Economics: Indonesia and China sign $10 billion of business deals

·       Business: United States orders chipmaker TMSC to stop shipping to China

·       Markets: Bitcoin value crosses $80,000 for the first time

·       Foreign Affairs: Protests in Valencia against regional government

·       Security and intelligence: Ukraine and Russia exchange record number of drone attacks

·       Domestic politics: Tesco to pay £1 billion more in National Insurance from Budget

The Mighty Stats

·       FTSE = 8,072.39 (down 0.84 per cent at Friday close)

·       S&P500 = 5,995.54 (up 0.38 per cent at Friday close)

·       Nasdaq = 19,286.78 (up 0.09 per cent at Friday close)

·       CAC40 = 7,338.67 (down 1.17 per cent at Friday close)

·       £1 = $1.29 / €1.21

·       US swing states results

*Donald Trump is due to meet President Biden at the White House on Wednesday 13th November to discuss the transition of power. The Republican Party currently looks likely to take control of the House of Representatives. A total of 218 seats is required to win control of the House of Representatives.*

Presidency Trump / Harris

·       Electoral College: 312 votes / 226 votes

·       Popular vote: 74.6 million / 70.9 million

Senate Republican / Democrat

·       Senate seats: 53 / 46

House of Representatives Republican / Democrat

·       House seats: 213 / 202

Governors Republican / Democrat

·       Governors: 27 / 23

*If you’ve been forwarded the Mighty Memo, subscribe for free at www.mightymemo.co.uk. You’ll receive the Mighty Memo directly in your inbox as soon as it’s published!*

The Mighty Detail

Economics: Indonesia and China signed business deals worth more than $10 billion on Sunday. In his first state visit to any country, the newly-elected President of Indonesia, Prabowo Subianto, called for “collaboration, not confrontation” with China and said that he wanted Indonesia to be part of China’s economic and “civilizational” power. The two countries also agreed to deepen security ties.

Business: The United States has ordered TSMC – the world’s most valuable semiconductor company – to stop sending sophisticated computer chips to China. The chips would be used in Artificial Intelligence. This comes as TMSC reported last month that one of its chips had been found in a Huawei computer processor, in an apparent violation of US export controls.

Markets: The value of Bitcoin reached $80,000 for the first time during trading yesterday. The rally follows the election of Donald Trump as the next US President. Trump has said that he would make the United States the “crypto capital of the world.”

Foreign Affairs: Ten of thousands of people gathered in Valencia on Saturday to protest at the regional government’s response to floods which have devasted the region. The protestors say that authorities have responded too slowly to the floods, which have killed 220 people, and that flood alerts were sent out too late. They are calling on regional president Carlos Mazón to resign.

Security and intelligence: Ukrainian authorities reported a record number of Russian drone attacks at the weekend. It says a total of 145 drones were launched, targeting cities including Kyiv and Odesa. Russia, at the same time, shot down 34 Ukrainian drones aimed at Moscow – also a record number – which had disrupted flights in the capital city.

Domestic politics: Tesco is set to face a £1 billion increase in its national insurance contributions (NICs) according to analysis by investment bank Morgan Stanley. The company employs 300,000 people in the UK and expects to make profits of £2.9 billion this year. This follows the Chancellor’s increase of employers’ NICs rates at the Budget last month.

The Mighty Calendar

What’s happening today?

o   Sir Keir Starmer attends Armistice Day service in France

o   Work and Pensions Questions in UK Parliament

o   Urgent Question in UK Parliament on breach of security at the Police Service of Northern Ireland

o   Norway CPI inflation data (October)

o   Mexico industrial production data (September)

o   Australia business confidence survey (October)

Lookahead to tomorrow

o   COP29 Climate Change Summit begins, Azerbaijan (ends 22nd November)

o   UK average earnings data (September)

o   Germany CPI inflation data (October)

o   Japan PPI inflation data (October)

o   Company results from: Spotify, Vodafone, AstraZeneca, SoftBank

The Mighty Finale

🌤️Weather today

Sunny in London! Dry all day and high of 11oC and low of 5oC. Sunny in Edinburgh and sunny intervals in Belfast. A good start to the week for everyone!

✏️Life coaching quote of the day

“Inaction breeds doubt and fear. Action breeds confidence and courage. If you want to conquer fear, do not sit home and think about it. Go out and get busy.” – Dale Carnegie, self-improvement writer

Mighty takeaway: Don’t put off your goals or dreams through fear and indecision. Take action today – just one step will get you started.

That’s it for this Monday morning. We hope you have a good start to this week and we’ll see you tomorrow.

Bye for now!

The Mighty Memo team

hello@mightymemo.co.uk

Friday, 8 November 2024

The Mighty Headlines

• Economics: Bank of England and US Federal Reserve cut interest rates

• Business: Sainsbury’s, M&S and BT may increase prices because of the Budget

• Markets: US markets reach record high following Trump’s victory

• Foreign Affairs: German opposition party calls for vote of confidence

• Security and intelligence: Hungary and Ukraine leaders clash

• Domestic politics: UK Government announces 56 new sanctions on Russia

The Mighty Stats

• FTSE = 8,140.74 (down 0.32 per cent at Thursday close)

• S&P500 = 5,973.10 (up 0.74 per cent at Thursday close)

• Nasdaq = 19,269.46 (up 1.51 per cent at Thursday close)

• CAC40 = 7,425.60 (up 0.76 per cent at Thursday close)

• £1 = $1.30 / €1.20

• US Presidential and Congressional election results

*At the time of writing, Donald Trump has won the Presidency and the Republican Party has won control of the Senate and looks highly likely to win control of the House of Representatives. A total of 218 seats is required to win control of the House of Representatives.*

Presidency Trump / Harris

·       Electoral College: 295 votes / 226 votes

·       Popular vote: 72.8 million / 68.2 million

Senate Republican / Democrat

·       Senate seats: 53 / 45

House of Representatives Republican / Democrat

·       House seats: 210 / 198

*If you’ve been forwarded the Mighty Memo, subscribe for free at www.mightymemo.co.uk. You’ll receive the Mighty Memo directly in your inbox as soon as it’s published!*

The Mighty Detail

Economics: The Bank of England and the United States Federal Reserve both decided to cut interest rates yesterday. The Bank of England cut rates from 5 per cent to 4.75 per cent. Inflation in the UK is at its lowest in three years, standing at 1.7 per cent. US interest rates – which are given as a range rather than a single figure – were also cut and now stand between 4.5 per cent and 4.75 per cent.

Business: Sainsbury’s, Marks & Spencer and BT have all said they may put up their prices because of the UK Government’s Budget last month. The businesses said they may pass on the cost of the National Insurance tax increase to their customers.

Markets: The US stock markets continue to rise following the election of Donald Trump as the next US President. The S&P 500 closed at a record high of 5,973.10 and the Nasdaq reached a record high of 19,269.46.

Foreign Affairs: Germany’s coalition Government collapsed on Wednesday after Chancellor Scholz, a Social Democrat, fired his Finance Minister Christian Linder, a Free Democrat. Although Chancellor Scholz said he would hold a vote of confidence in January, with a view to elections in March, the opposition CDU party is now demanding the vote be held next week.

Security and intelligence: Hungarian Prime Minister, Viktor Orban, and Ukrainian President Volodymyr Zelensky clashed at the European Political Community summit in Budapest yesterday. Orban called for a ceasefire between Ukraine and Russia, claiming that the United States’ attitude to the war would soon be changing. In a tacit reference to Orban, Zelensky denounced “People who didn't live through war but have only seen it in books and movies. People who've spent years or months talking to Putin, hugging, but never fought him.”

Domestic politics: The UK Government announced 56 new sanctions against Russia yesterday. This is the largest package of sanctions against the country since May 2023. The sanctions target the supply of goods to Russia’s military from companies in China, Turkey and central Asia.

The Mighty Calendar

What’s happening today?

o   French trade data (September)

o   Italy industrial production data (September)

o   Italy retail sales data (September)

o   Canada employment data (October)

o   China CPI inflation data (October)

o   Company results from: IAG, Sony, Paramount

Lookahead to the weekend

Saturday

• Lord Mayor’s Show, City of London (free attendance)

• NEC Classic Motor Show, Birmingham

• Chester Literature Festival (ends 16th November)

Sunday

• National Service of Remembrance at the Cenotaph

• NFL Munich Game: New York Giants vs. Carolina Panthers, Germany

• Men’s ATP Tennis Finals begin, Italy

The Mighty Finale

🌤️Weather today

Light cloud in London and dry. High of 13oC and low of 9oC. Getting colder! Thick cloud in Belfast and sunny spells again in Edinburgh.

✏️Life coaching quote of the day

“Fear does not have any special power unless you empower it by submitting to it.” – Les Brown, motivational speaker

Mighty takeaway: This is a quote to ponder for the weekend. What fears are you giving in to?

That’s all for today and for this week. We hope you enjoy the weekend and we’ll see you again on Monday.

Adios!

The Mighty Memo team

hello@mightymemo.co.uk

Thursday, 7 November 2024

The Mighty Headlines

• Economics: Iran’s currency falls to all-time low against the dollar following Trump victory

• Business: Profits fall at Toyota despite rising sales

• Markets: Tesla shares increase by 14 per cent following Trump victory

• Foreign Affairs: Kashmir requests that India Government restore its autonomy

• Security and intelligence: China and Malaysia agree to strengthen security ties

• Domestic politics: UK Government provides £10 million more to tackle rough sleeping

The Mighty Stats

• FTSE = 8,166.68 (down 0.07 per cent at Wednesday close)

• S&P500 = 5,929.04 (up 2.53 per cent at Wednesday close)

• Nasdaq = 18,983.47 (up 2.95 per cent at Wednesday close)

• CAC40 = 7,369.61 (down 0.51 per cent at Wednesday close)

• £1 = $1.29 / €1.20

• US Presidential and Congressional election results

*At the time of writing, Donald Trump has won the Presidency and the Republican Party has won control of the Senate and looks likely to win control of the House of Representatives.*

Presidency Trump / Harris

• Electoral College: 294 votes / 223 votes

• Popular vote: 72 million / 67 million

Senate Republican / Democrat

• Senate seats: 52 / 44

House of Representatives Republican / Democrat

• House seats: 205 / 189

*If you’ve been forwarded the Mighty Memo, subscribe for free at www.mightymemo.co.uk. You’ll receive the Mighty Memo directly in your inbox as soon as it’s published!*

The Mighty Detail

Economics: Iran’s currency fell to an all-time low against the dollar following the election of Donald Trump as the next President of the United States. The Iranian currency fell to around 703,000 rials for $1. Around the time of the Iran nuclear deal in 2015, the rial traded at around 32,000 rials for $1.

Business: Profits at Toyota fell in the first half of the tax year despite rising sales. The car maker’s sales came to around $151 billion between April and September. This is 6 per cent higher than last year but net profits fell by 20 per cent to around $3.3 billion.

Markets: Shares in Tesla rose by nearly 15 per cent on the news of Donald Trump’s victory in the US Presidential election. Tesla CEO Elon Musk has been a strong supporter of Donald Trump. Although subsidies for electric vehicles may fall under Donald Trump, Tesla’s large market share could insulate it from the potentially weaker demand for electric vehicles.

Foreign Affairs: The Indian-controlled region of Kashmir passed a resolution yesterday requesting that the Indian Government restore its semi-autonomous status. Kashmir’s semi-autonomy was abandoned by Indian Prime Minister Modi in 2019 and the region was split into two centrally governed areas: Ladakh and Jammu-Kashmir.

Security and intelligence: The Chinese and Malaysian Governments have agreed to strengthen ties in security, defence and in infrastructure projects. This follows a meeting between their two Prime Ministers earlier this week. Malaysian Prime Minister Anwar Ibrahim also thanked China for supporting Malaysia’s application to become a full member of the BRICS group of countries.

Domestic politics: The UK Government is providing £10 million of emergency funding to support rough sleepers this winter. It says that the funding will go to councils “in the highest need” and provide access to accommodation.

The Mighty Calendar

What’s happening today?

o   King Charles hosts reception for Olympic and Paralympic athletes

o   Environment Questions in UK Parliament

o   United States Federal Reserve interest rate decision

o   Bank of England interest rate decision

o   UK house price data (October)

o   Germany trade data (September)

o   Germany industrial production data (September)

o   Italy, Germany construction growth data (October)

o   Eurozone retail sales data (September)

o   United States jobless claims (weekly)

o   Company results from: Sainsbury’s, BT Group, National Grid, Expedia, Taylor Wimpey, ArcelorMittal, Air France

Lookahead to tomorrow

o   Sir Keir Starmer attends European Political Community summit in Hungary

o   French trade data (September)

o   Italy industrial production data (September)

o   Italy retail sales data (September)

o   Canada employment data (October)

o   China CPI inflation data (October)

o   Company results from: IAG, Sony, Paramount

The Mighty Finale

🌤️Weather today

Dry and cloudy (again!) in London. High of 14oC and low of 8oC. Cloudy in Belfast with rain in the evening. Sunny spells in Edinburgh.

✏️Life coaching quote of the day

“Too many of us are not living our dreams because we are living our fears.” – Les Brown, motivational speaker

Mighty takeaway: What is stopping you from living your dream? The only limitation is the one you impose upon yourself.

That’s it for today. See you tomorrow!

Cheerio!

The Mighty Memo team

hello@mightymemo.co.uk