Friday 28 March 2025

The Mighty Headlines

Economics: US seeks full control of future Ukraine investments

Business: Next reaches £1 billion profit milestone

Markets: European markets fall after US car tariffs announcement

Foreign Affairs: Burma’s military announces elections by the end of 2025

Security and intelligence: Europe rejects Russia’s demand to lift sanctions

Domestic politics: UK Government gives £740 million for SEND places

The Mighty Stats

FTSE = 8,666.12 (down 0.27%)

S&P 500 = 5,693.31 (down 0.33%)

Nasdaq = 17,804.03 (down 0.53%)

CAC40 = 7,990.11 (down 0.51%)

£1 = $1.29 / €1.20

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The Mighty Detail

Economics: The US Government is seeking to have a right of first refusal on investments in all future infrastructure and critical mineral projects in Ukraine. Under the new deal, Ukraine would also put 50 per cent of all income from new projects into an investment fund, which the US would control and have the right to all profits as well as a four per cent annual return.

Business: Next’s pre-tax profits increased by over 10 per cent in 2024 to just over £1 billion. Total sales across the company increased to £6.3 billion. Next is only the fourth retailer after Tesco, Marks & Spencer and Kingfisher to reach the £1 billion profit milestone.

Markets: European markets closed down yesterday, following the news on Wednesday that the US would impose tariffs of 25 per cent on cars made outside of the US. Shares in Stellantis, the owner of Jeep, fell by 4.2 per cent. Shares in Mercedez-Benz and BMW fell by 2.7 per cent and 2.55 per cent respectively.

Foreign Affairs: The head of Burma’s military, Min Aung Hlaing, has said that he will hold a General Election by the end of the year. The democratically elected leader of Burma, Aung San Suu Kyi, was ousted from office by a military coup in 2021. Suu Kyi is currently serving 27 years in prison for convictions which are generally accepted to be politically motivated.

Security and intelligence: The UK, France and the EU have rebuffed Russian proposals that sanctions must be lifted before a ceasefire can take place on shipping in the Black Sea. Sir Keir Starmer said at a meeting to discuss Ukraine in Paris yesterday “now is not the time for pulling back or weakening sanctions – now is the time to increase sanctions to get [Russia] to the table.”

Domestic politics: The UK Government has announced £740 million to support 10,000 new places for pupils with special educational needs in schools. The Government states that fewer than 1 in 10 mainstream schools have specific provision for pupils with special educational needs.

The Mighty Calendar

What’s happening today?

• Private Members’ Bills in the UK Parliament

• Reform UK launches local election campaign

• Former Liverpool mayor Joe Anderson in court on bribery charges

• UK GDP data (Q4 2024)

• UK retail sales data (February)

• US personal income and spending data (February)

• Eurozone consumer confidence data (March)

• Germany unemployment data (March)

Lookahead to the weekend

Saturday

• Partial solar eclipse in the UK (between 9.56am and 12.14pm)

• Côte Chalonnaise Wine Marathon, France

Sunday

• Mothering Sunday in the UK (Don’t forget!)

• FA Cup semi-final draw

• Ulster National Raceday, Co. Down, Northern Ireland

The Mighty Finale

🌤️Weather today

A bit of rain in the morning in the southeast but largely dry elsewhere. High of 14C and low of 3C in London. Light rain in Belfast and Edinburgh.

✏️Life coaching quote of the day

“The older you get, the more fragile you understand life to be. I think that’s good motivation for getting out of bed joyfully each day.” – Julia Roberts, actress

Mighty takeaway: You have the gift of live. Make the most of it.

That’s it for this week. Thanks for reading and we’ll see you again next week.

Adios!

The Mighty Memo team

Thursday 27 March 2025

The Mighty Headlines

Economics: UK house prices increase by 4.9 per cent

Business: Wall Street bonus pool rises to record $47.5 billion

Markets: Tesla shares fall by 6 per cent as European sales fall by 40 per cent

Foreign Affairs: ex-President of Brazil set for trial over alleged coup

Security and intelligence: France holds Ukraine summit but US focuses on China

Domestic politics: UK Chancellor delivers Spring Statement

The Mighty Stats

FTSE = 8,689.59 (up 0.3%)

S&P 500 = 5,712.20 (down 1.12%)

Nasdaq = 17,899.02 (down 2.04%)

CAC40 = 8,030.68 (down 0.96%)

£1 = $1.29 / €1.20

*The Mighty Memo is now on Bluesky. Follows us on @themightymemo.*

The Mighty Detail

Economics: Average UK house prices increased by 4.9 per cent in the year to January. The average UK house price now stands at £269,000. The increase was fastest in the northwest of England, where growth reached 9.1 per cent. It was slowest in London at 2.3 per cent.

Business: Average bonuses on Wall Street rose by nearly one third to a record $244,700 in 2024. The total bonus pool paid out rose to $47.5 billion. This is the largest bonus pool since 1987 when records began. It comes as profits in financial services almost doubled last year.

Markets: Shares in Tesla fell by nearly 6 per cent during trading yesterday. It comes on the news that new Tesla registrations fell by 40 per cent in Europe in the year to February 2025. It also came ahead of President Trump’s announcement that he would impose 25 per cent tariffs on all cars “not made in the United States”.

Foreign Affairs: The former President of Brazil, Jair Bolsonaro, has been ordered by the country’s Supreme Court to stand trial for allegedly attempting a coup after his election defeat in 2022. The coup reportedly included a plan to poison the current President and to kill a Supreme Court judge. Bolsonaro claims that the case against him is politically motivated.  

Security and intelligence: Ahead of a meeting today in Paris to discuss Ukraine, President Macron said that a European peacekeeping force in Ukraine would respond if attacked by Russia.  In a sign of different priorities to Europe, the US intelligence community published its Annual Threat Assessment report yesterday and said that China remained the top military and cyber threat to the US. It added that China seeks to replace the US as the top AI power by 2030.

Domestic politics: The UK Chancellor delivered her Spring Statement yesterday in which growth is forecast to halve this year from 2 per cent to 1 per cent. Other key points include:

·       Inflation to increase to 3.2 per cent in 2025 before falling to 2.6 per cent in 2026

·       Budget to move from a deficit of £36.1 billion this year to surplus of £6 billion in 2027

·       Universal Credit health element cut by 50 per cent and frozen for new claimants

·       Tighter eligibility for disability benefits

·       Voluntary redundancy for civil servants to save £3.5 billion by 2029

·       Defence to receive an extra £2.2 billion next year

The Mighty Calendar

What’s happening today?

Transport Questions in the UK Parliament

France hosts meeting on Ukraine and European security

UN Security Council discusses the Democratic Republic of Congo

US GDP data (Q4 2024)

US jobless claims (weekly)

Japan CPI inflation data (March)

Company results from: NEXT, H&M

Lookahead to tomorrow

Private Members’ Bills in the UK Parliament

Reform UK launches local election campaign

Former Liverpool mayor Joe Anderson in court on bribery charges

UK GDP data (Q4 2024)

UK retail sales data (February)

US personal income and spending data (February)

Eurozone consumer confidence data (March)

Germany unemployment data (March)

The Mighty Finale

🌤️Weather today

Sunny spells in most of England but still a little cloudy in the southwest. High of 17C and low of 8C in London. Heavy rain in Belfast and Edinburgh.

✏️Life coaching quote of the day

“No one knows enough to be a pessimist.” – Wayne Dyer, motivational speaker

Mighty takeaway: If you look at your worries, are you ever 100 per cent certain they will come true? The answer has to be no, because you can’t see into the future.

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

Bye!

The Mighty Memo team

Wednesday 26 March 2025

The Mighty Headlines

Economics: Russian oil exports reach a five-month high

Business: Kingfisher announces 35 per cent drop in profits

Markets: Value of sterling forecast to fall after today’s Spring Statement

Foreign Affairs: EU says “Chinese lithium” cannot be the new “Russian gas”

Security and intelligence: Fallout out from US security leak continues

Domestic politics: UK Government takes first step on an east-west railway

The Mighty Stats

FTSE = 8,663.80 (up 0.3%)

S&P 500 = 5,776.65 (up 0.16%)

Nasdaq = 18,271.86 (up 0.46%)

CAC40 = 8,108.59 (up 1.08%)

£1 = $1.29 / €1.20

*The Mighty Memo is now on Bluesky. Follows us on @themightymemo.*

Ukraine update: The US Government said yesterday that Ukraine and Russia have agreed on a partial ceasefire covering shipping in the Black Sea. ‎Russia has said, however, that the US must lift its sanctions on Russian financial institutions which support agriculture and fertiliser exports before the ceasefire can go ahead.

The Mighty Detail

Economics: Russian oil exports have reached a five-month high. In the month to the 23rd March‎, oil exports increased to 3.45 million barrels a day. This is the highest level since October. Despite sanctions, oil exports are continuing with reports of new shipments to Syria in the last week.

Business: Kingfisher has announced pre-tax profits of £307 million in the year to January 2025. This is a 35 per cent drop on the previous year. The company, which owns B&Q and Screwfix in the UK, said it expected a hit of £145 million this year from higher wages, tax increases and inflation.

Markets: JP Morgan is forecasting a fall in the value of sterling to around 85 pence per euro after the UK Chancellor's Spring Statement today. This is the weakest value since August. ‎Spending cuts, higher borrowing and weaker economic growth in the UK is set against higher growth in the eurozone after Germany approved a €500 billion defence and infrastructure investment plan.

Foreign Affairs: The EU is seeking to fast track 47 projects essential to the mining and processing of critical raw materials. It comes as countries race to secure supplies of technologically important metals such as lithium, cobalt and copper. In a reference to Europe’s former reliance on Russian energy, the EU said that "Chinese lithium will not be tomorrow's Russian gas".

Security and intelligence: At a US Senate Committee hearing yesterday, the CIA Director and the Director of National Intelligence stated that the information leaked about strikes against the Houthis in Yemen was not classified. Democrat Committee members questioned why the information could not be shared immediately with the Committee if it was not classified.

Domestic politics: The Government has appointed Chiltern Railways as the operator for the first stage of a new east to west railway line. East West Rail will link Oxford and Cambridge by the mid-2030s. The first stage will link Oxford and Milton Keynes this year. The Government says East West Rail could generate “£6.7 billion of growth per year” by 2050.

The Mighty Calendar

What’s happening today?

• UK Chancellor delivers the Spring Statement

• Prime Minister’s Questions in UK Parliament

• UK CPI inflation data (February)

• US mortgage applications data (weekly)

• France consumer confidence data (March)

• Company results from: Porsche

Lookahead to tomorrow

• Transport Questions in the UK Parliament

• France hosts meeting on Ukraine and European security

• UN Security Council discusses the Democratic Republic of Congo

• US GDP data (Q4 2024)

• US jobless claims (weekly)

• Japan CPI inflation data (March)

• Company results from: NEXT, H&M

The Mighty Finale

🌤️Weather today

Cloudy in the southwest of England. Sunny spells elsewhere. High of 17C and low of 6C in London. Sunny spells in Belfast. Bright sunshine in Edinburgh.

✏️Life coaching quote of the day

“Do you want to know what you think about most of the time? Take a look at the results you're getting. That will tell you exactly what's going on inside.” – Bob Proctor, motivational speaker

Mighty takeaway: The thoughts you think lead to the outcomes you have in your life. How could it be otherwise? Change your thoughts to change your life.

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

Adios!

The Mighty Memo team

Tuesday 25 March 2025

The Mighty Headlines

Economics: US factory activity contracts in March

Business: Bayer to pay $2.1 billion in weedkiller Roundup cancer case

Markets: SAP becomes Europe’s most valuable public company

Foreign Affairs: $1.45 million for former Japanese death row inmate

Security and intelligence: Turkey’s President condemns protests

Domestic politics: UK and French military chiefs meet in London

The Mighty Stats

FTSE = 8,638.01 (down 0.1%)

S&P 500 = 5,767.57 (up 1.76%)

Nasdaq = 18,188.59 (up 2.27%)

CAC40 = 8,022.33 (down 0.26%)

£1 = $1.29 / €1.20

*The Mighty Memo is now on Bluesky. Follows us on @themightymemo.*

The Mighty Detail

Economics: US factory activity contracted this month. According to the S&P PMI, activity fell from 52.7 in February to 49.8 in March. Any number below 50 indicates a contraction. More expensive materials because of US tariffs may be a factor in the fall in activity.

Business: The pharmaceutical giant Bayer has been ordered to pay $2.1 billion by a court in the US state of Georgia for damages and compensation relating to the weedkiller Roundup. Plaintiffs have argued that Roundup causes cancer. Bayer bought Roundup as part of its acquisition of US agrochemical company Monsanto in 2018. Bayer has already paid $10 billion in cancer-related Roundup legal cases. It is keeping another $5.9 billion for cases which have not yet been settled.

Markets: German software company SAP has become Europe’s most valuable public company. Yesterday, its market capitalisation (the total value of all its shares) reached €312 billion. Its share price has risen by 40 per cent in the last year. Europe’s second most valuable public company is Novo Nordisk, the Danish drug manufacturer.

Foreign Affairs: The President of Turkey, Tayyip Erdogan, has said that the anti-government protests which have followed the imprisonment of the main opposition politician are a “movement of violence”. Prosecutors have charged the opposition figure with corruption. The opposition claims the arrest is politically motivated.

Security and intelligence: A court in Japan has ordered that a man who was wrongly imprisoned for 48 years over a murder he did not commit should receive $1.47 million in compensation. In a retrial last year, it was revealed that investigators had fabricated evidence against Iwao Hakamada, now aged 89. He spent 48 years in prison, 45 years on death row and most of it in solitary confinement.

Domestic politics: UK and French military chiefs met in London yesterday to discuss securing peace in Ukraine and European security. It comes as the UK and France seek to review the 2010 Lancaster House Defence Agreement with stronger arrangements later this year.

The Mighty Calendar

What’s happening today?

• US intelligence chiefs discuss global threats at US Senate hearing

• New German Parliament sits for the first time

• Health Questions in UK Parliament

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

• US new homes sales (February)

• Japan CPI inflation data (yearly)

• Company results from: Kingfisher, Smiths Group

Lookahead to tomorrow

• UK Chancellor delivers the Spring Statement

• Prime Minister’s Questions in UK Parliament

• UK CPI inflation data (February)

• US mortgage applications data (weekly)

• France consumer confidence data (March)

• Company results from: Porsche

The Mighty Finale

🌤️Weather today

Dry in the southwest and southeast of England. A chance of light rain in the northwest and northeast. High of 14C and low of 7C in London. Sunny spells in Belfast and Edinburgh.

✏️Life coaching quote of the day

“Life has no limitations, except the ones you make." – Les Brown, motivational speaker

Mighty takeaway: Change your mindset. Think of the possibilities instead of the obstacles.

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

Bye!

The Mighty Memo team

Monday 24 March 2025

The Mighty Headlines

Economics: France’s credit outlook downgraded

Business: Gordon Ramsay’s TV company made over £60 million in 2024

Markets: Ticket reseller StubHub’s New York IPO could raise over $1 billion

Foreign Affairs: Turkey’s main opposition politician jailed amid protests

Security and intelligence: US calls UK approach to Ukraine “simplistic”

Domestic politics: UK Government to cut 10,000 civil service jobs

The Mighty Stats

FTSE = 8,646.79 (down 0.63%)

S&P 500 = 5,667.56 (up 0.082%)

Nasdaq = 17,784.05 (up 0.52%)

CAC40 = 8,042.95 (down 0.53%)

£1 = $1.29 / €1.19

*The Mighty Memo is now on Bluesky. Follows us on @themightymemo.*

Canada special update: Canada’s new Prime Minister, Mark Carney, has called a snap election for 28 April as he seeks to strengthen his Government’s mandate. Carney became Prime Minister earlier this month after Justin Trudeau resigned.

The Mighty Detail

Economics: Morningstar DBRS has issued a negative outlook on France’s creditworthiness. The ratings company said that it was concerned about France’s “large fiscal deficit and high public debt ratio”. France budget deficit stood at 6 per cent of GDP last year. The Government aims to reduce it to 5.4 per cent this year.

Business: Newly filed accounts show that Gordon Ramsay’s television production company, Humble Pie Productions, posted turnover of £60.6 million last year with a profit of £7.1 million. Ramsay’s restaurant business turned over £95.6 million, with a loss of £3.4 million.

Markets: StubHub, the online events ticketing platform, is set to be listed on the New York stock exchange. The move could raise more than $1 billion for the company. StubHub, known as Viagogo outside of the US, was launched in 2000 and bought by eBay for $310 million in 2007. It was bought back by its co-founder Erick Baker for $4 billion in 2020.

Foreign Affairs: The Mayor of Istanbul, Ekrem İmamoğlu, was jailed yesterday while he awaits trial on corruption charges. İmamoğlu is the main opposition figure to President Erdogan. Members of İmamoğlu’s party continued, however, with a Presidential primary yesterday to select him as their Presidential candidate.  

Security and intelligence: US Government envoy Steve Witkoff, has said that the UK’s plan to support a ceasefire in Ukraine with international forces is “simplistic”. Witkoff also said “I don’t regard Putin as a bad guy”. Separately, the US National Security Advisor, Mike Waltz, has suggested a three-stage approach to a ceasefire in Ukraine. It would cover energy infrastructure, stopping hostilities in the Black Sea and then dividing up territories.

Domestic politics: UK Chancellor, Rachel Reeves, said that the UK Government plans to cut government operating costs by 15 per cent and reduce the number of civil servants by 10,000. The announcement comes ahead of the Chancellor’s Spring Statement on Wednesday.

The Mighty Calendar

What’s happening today?

• Bank of England delivers lecture on economic growth

• Ukraine, US, Russia hold separate talks in Riyadh, Saudi Arabia

• Impeachment verdict for South Korea’s Prime Minister Han Duk-soo

• UK, US, Eurozone manufacturing growth data (March)

• UK, US, Eurozone services growth data (March)

Lookahead to tomorrow

• US intelligence chiefs discuss global threats at US Senate hearing

• New German Parliament sits for the first time

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

• US new homes sales (February)

• Japan CPI inflation data (yearly)

• Company results from: Kingfisher, Smiths Group

The Mighty Finale

🌤️Weather today

Bright sunshine in the northwest of England. Sunny intervals elsewhere. High of 15C and low of 4C in London. Bright sunshine in Belfast and Edinburgh.

✏️Life coaching quote of the day

“People are frugal in guarding their personal property; but as soon as it comes to squandering time they are most wasteful of the one thing in which it is right to be stingy.” – Seneca, Ancient Roman philosopher

Mighty takeaway: Think carefully about how prioritise and spend your time. Are you spending your time on the right things?

That’s it for this morning. Thanks for reading and we’ll see you tomorrow. Do join us then.

Bye!

The Mighty Memo team

Friday 21 March 2025

The Mighty Headlines

Economics: Bank of England keeps interest rates at 4.5 per cent

Business: Elon Musk sues the Indian Government over alleged censorship

Markets: Accenture shares fall by over 7 per cent

Foreign Affairs: Houthis fire missiles at Israel

Security and intelligence: UK shifts away from putting roops in Ukraine

Domestic politics: Protestors disrupt UK House of Lords debate

The Mighty Stats

FTSE = 8,701.99 (down 0.054%)

S&P 500 = 5,662.89 (down 0.22%)

Nasdaq = 19,677.61 (down 0.3%)

CAC40 = 8,094.20 (down 0.95%)

£1 = $1.30 / €1.19

*Are you interested in sponsoring this briefing? Email us at hello@mightymemo.co.uk for more information*

The Mighty Detail

Economics: The Bank of England has kept interest rates at 4.5 per cent. The Bank of England said that “global trade uncertainty has intensified” but Governor Andrew Bailey added that interest rates were on a "gradually declining path.”

Business: Elon Musk is suing the Indian Government alleging that it is unlawfully increasing its censorship powers to make it easier to take down content online. The case comes as Musk is also seeking to launch his Starlink broadband in the country, for which he is seeking the Government’s authorisation.

Markets: Shares in consulting firm Accenture fell by over 7 per cent yesterday. It reported fairly week Q2 revenue of $16.66 billion versus the $16.62 billion that had been expected. It also announced that it had lost US Federal Government contracts amid the Department of Government Efficiency’s crackdown on spending.

Foreign Affairs: The Iran-backed Houthi rebels in Yemen fired two missiles at Israel yesterday. Both missiles were intercepted. The Houthis are increasing their attacks in response to the US increasing its own attacks on the Houthis. There were at least four US strikes on the city of Hodeidah in Yemen yesterday, where the Houthi navy is stationed.

Security and intelligence: There are reports that the UK Prime Minister is moving away from the idea of putting troops on the ground as a security guarantee in Ukraine and that the UK may favour air and naval support instead. Speaking at the NATO Permanent Joint Headquarters in Northwood, Sir Keir said that Ukrainian forces would remain the first line of defence.

Domestic politics: Protestors disrupted a debate in the UK House of Lords yesterday with cries of “Lords out, people in”. The protest was organised by Assemble, a group which promotes citizens’ assemblies. The House of Lords was debating the 80th anniversary of VE Day.

The Mighty Calendar

What’s happening today?

• European Council summit for EU leaders continues, Brussels

• UN Security Council discuss Israel-Gaza conflict

• England vs Albania in World Cup 2026 qualifier

• UK public sector debt data (February)

• EU consumer confidence data (March)

• Company results from: JD Wetherspoon

Lookahead to tomorrow

Saturday

• Liberal Democrat Spring Conference begins

• WWF World Earth Hour, 8.30pm

• Hampton Court Palace gardens (free entry Saturday and Sunday)

Sunday

• Fifth anniversary of UK’s first Covid-19 lockdown

• F1 Chinese Grand Prix (final day)

• World Indoor Athletics Championships (final day)

The Mighty Finale

🌤️Weather today

Spring must be here! Sunny for most of England apart from the southwest where it’s raining. High of 18C and low of 11C in London. Sunshine in Edinburgh too but light rain in Belfast.

✏️Life coaching quote of the day

“When you arise in the morning, think of what a precious privilege it is to be alive – to breathe, to think, to enjoy, to love.” – Marcus Aurelius, Ancient Roman emperor and philosopher

Mighty takeaway: Don’t forget how lucky you are to have a chance at life. Enjoy it!

That’s it for this Friday and this week. Thanks for reading and join us again next week!

Adios!

The Mighty Memo team

Thursday 20 March 2025

The Mighty Headlines

Economics: US Federal Reserve keeps interest rates the same

Business: Ben & Jerry’s accuses Unilever of sacking CEO for political reasons

Markets: German defence stocks fall

Foreign Affairs: Istanbul mayor arrested in political opposition crackdown

Security and intelligence: EU unveils €800 billion defence spending plans

Domestic politics: UK Government departments could see 7 per cent cuts

The Mighty Stats

FTSE = 8,706.66 (up 0.016%)

S&P 500 = 5,675.29 (up 1.08%)

Nasdaq = 17,750.79 (up 1.41%)

CAC40 = 8,171.47 (up 0.7%)

£1 = $1.30 / €1.19

*Are you interested in sponsoring this briefing? Email us at hello@mightymemo.co.uk for more information*

The Mighty Detail

Economics: The US Federal Reserve announced yesterday evening that it would keep interest rates at between 4.25 per cent and 4.5 per cent. Fed Chair Jerome Powell said they would be kept at this level if the economy stays strong and inflation does not fall. The Bank of England’s interest rate decision is published later today.

Business: Ben & Jerry’s is accusing its owner Unilever of unlawfully removing its CEO because of political activism. The details were published as part of an ongoing lawsuit between Ben & Jerry’s and Unilever, which it accuses of silencing Ben & Jerry’s pro-Palestinian statements in the Israel-Gaza war. Unilever bought Ben & Jerry’s for $326 million in 2000 but it plans to sell all its ice-creams businesses by the end the year.

Markets: German defence stocks fell during trading yesterday. It comes after the lower house of the German Parliament agreed to loosen debt rules on defence investment while also creating a €500 billion climate and infrastructure fund. Arms manufacturer Rheinmetall fell by 4.53 per cent and Hensoldt fell by 9.31 per cent.

Foreign Affairs: Police in Turkey have arrested the Mayor of Istanbul in what is being reported as a crackdown against President Erdogan’s political rivals. Mayor Ekrem İmamoğlu has been detained along with 100 other people and is accused of corruption and supporting pro-Kurdish political forces among others.

Security and intelligence: The EU has published plans that could increase EU defence spending by up to €800 billion. An EU loans scheme will provide €150 billion to countries to spend on defence and a loosening of debt restrictions could provide €650 billion of further funding. The EU also said yesterday that Russia would be a “fundamental threat” for the “foreseeable future”.

Domestic politics: There are reports that the UK Chancellor is set to cut public spending more than previously expected in the Spring Statement next week. Some departments could face reduction of around 7 per cent and future budgets could rise by less than previously announced.

The Mighty Calendar

What’s happening today?

• European Council summit for EU leaders, Brussels (ends tomorrow)

• Western military chiefs meet in London to discuss Ukraine peacekeeping

• Prince of Wales begins two-day visit to Estonia

• International Olympic Committee chooses new President

• Bank of England interest rate decision

• Environment Questions in UK Parliament

• UK average earnings data (January)

• UK unemployment rate (January)

• US jobless claims (weekly)

• Japan CPI inflation data (February)

• Company results from: RWE, Nike, FedEx, Prudential

Lookahead to tomorrow

• European Council summit for EU leaders continues, Brussels

• UN Security Council discuss Israel-Gaza conflict

• England vs Albania in World Cup 2026 qualifier

• UK public sector debt data (February)

• EU consumer confidence data (March)

• Company results from: JD Wetherspoon

The Mighty Finale

🌤️Weather today

Another sunny and dry day across the UK. High of 19C and low of 7C in London.

✏️Life coaching quote of the day

“No one can be myself like I can.” – from The One and Only by Chesney Hawkes and Nik Kershaw

Mighty takeaway: Be yourself. Don’t copy others. Find your own path.

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

Bye!

The Mighty Memo team

Wednesday 19 March 2025

The Mighty Headlines

Economics: US Federal Reserve interest rate decision today

Business: Google to acquire tech start-up for $32 billion

Markets: Investors turning away from US stocks towards European stocks

Foreign Affairs: Germany passes new law for defence and infrastructure

Security and intelligence: Poland and Baltic states to leave weapons treaty

Domestic politics: UK Government’s £5 billion reduction to benefits

The Mighty Stats

FTSE = 8,705.23 (up 0.29%)

S&P 500 = 5,614.66 (down 1.07%)

Nasdaq = 17,504.12 (down 1.71%)

CAC40 = 8,114.57 (up 0.5%)

£1 = $1.30 / €1.19

*Are you interested in sponsoring this briefing? Email us at hello@mightymemo.co.uk for more information*

Ukraine update: President Trump spoke to President Putin about Ukraine yesterday. President Putin agreed to a partial ceasefire on energy infrastructure but also demanded that the US stop military aid to Ukraine and that Ukraine stop “forced mobilisation” of troops to effectively stymie Ukraine’s military activities.

The Mighty Detail

Economics: The US Federal Reserve’s interest rate decision is due later today at around 6.30pm GMT. The Fed is expected to keep current rates the same, which stand at 4.25 per cent to 4.5 per cent. The Fed’s interest rate is not a single figure but is expressed as a range.

Business: Google has agreed to pay $32 billion in cash to buy Wiz, a cloud security company. It will be Google’s largest ever acquisition as it attempts to catch up with competitors such as Microsoft and Amazon in cloud infrastructure. Wiz was founded in 2020.

Markets: A survey of fund managers shows that investors are turning away from US stocks and moving towards European stocks. According to the Bank of America Fund Manager Survey, investors reduced their exposure to US stocks to their lowest level since June 2023 and increased their exposure to European stocks to their highest level since the middle of 2021.

Foreign Affairs: Germany has passed historic legislation to exempt borrowing for defence and infrastructure from its strict debt rules. The bill passed with 513 votes in favour – far above the 489 votes required. Soon-to-be Chancellor Friedrich Merz said it was “nothing less than the first major step towards a new European defence community.”

Security and intelligence: Poland and the Baltic states of Estonia, Latvia and Lithuania have announced that they plan to leave an international treaty banning anti-personnel landmines. In a joint statement, they said that the flexibility and freedom to use new weapons systems to bolster NATO’s Eastern flank was “paramount”. Separately, Lithuania left the Convention on Cluster Munitions earlier this month.

Domestic politics: The UK Government has announced a £5 billion reduction to benefits by 2030 to create a “pro-work system”. The welfare bill is still expected to rise, however, from £65 billion this year to over £100 billion by 2029.

The Mighty Calendar

What’s happening today?

• Prime Minister’s Questions in the UK Parliament

• Matt Hancock appears at the UK Covid-19 Inquiry

• US Federal Reserve interest rate decision

• Eurozone CPI inflation data (February)

• Company results from: Tencent

Lookahead to tomorrow

• European Council summit for EU leaders, Brussels

• Western military chiefs meet in London to discuss Ukraine peacekeeping

• Prince of Wales begins two-day visit to Estonia

• International Olympic Committee chooses new President

• Bank of England interest rate decision

• Environment Questions in UK Parliament

• UK average earnings data (January)

• UK unemployment rate (January)

• US jobless claims (weekly)

• Japan CPI inflation data (February)

• Company results from: RWE, Nike, FedEx, Prudential

The Mighty Finale

🌤️Weather today

Another sunny day for most of England and for Belfast and Edinburgh too. High of 16C and low of 7C in London.

✏️Life coaching quote of the day

“Your attention is the most valuable property you can ever possess.” – Dan Sullivan, life coach

Mighty takeaway: Are you spending your time and focusing your attention on things that are meaningful to you?

That’s it for this Wednesday morning. Do join us again tomorrow!

Bye for now!

The Mighty Memo team

Tuesday 18 March 2025

The Mighty Headlines

Economics: OECD downgrades global growth because of US tariffs

Business: Audi to cut 7,500 jobs by 2029

Markets: Oil prices rise after President Trump’s Iran statement

Foreign Affairs: Trump and Putin to discuss Ukraine today

Security and intelligence: China sends 54 warplanes around Taiwan

Domestic politics: Chagossians take legal action against UK Government

The Mighty Stats

FTSE = 8,680.29 (up 0.56%)

S&P 500 = 5,675.12 (up 0.64%)

Nasdaq = 17,808.66 (up 0.31%)

CAC40 = 8,073.71 (up 0.57%)

£1 = $1.30 / €1.19

*Are you interested in sponsoring this briefing? Email us at hello@mightymemo.co.uk for more information*

The Mighty Detail

Economics: The Organisation for Economic Co-operation and Development (OECD) has reduced forecasts of global economic growth this year because of the impact of US tariffs. UK growth has been revised downwards from 1.7 per cent to 1.4 per cent. US growth has been downgraded from 2.4 per cent to 2.2 per cent. Mexico is hardest hit, with growth of 1.2 per cent turning into a contraction of 1.3 per cent.

Business: Audi has said that it is to cut 7,500 jobs in Germany by 2029. The German carmaker said that the roles would be in administration and development and would save €1 billion a year. Volkswagen, which owns Audi, has planned just under 48,000 job cuts across its businesses.

Markets: Oil prices rose yesterday after President Trump said that Iran would be held responsible for “every shot” fired by Houthi rebels in Yemen. Trump said that Iran would “suffer the consequences” which would be “dire”. Brent crude reached a high of $71.76 per barrel.

Foreign Affairs: President Trump is due to speak to President Putin today about Ukraine. Ahead of the call, Trump said that they would be talking about “land”, “nuclear power plants” and “dividing up certain assets”. Russia currently controls the Zaporizhzhia Nuclear Power Plant, the largest nuclear power plant in Europe, after annexing Ukraine’s Zaporizhzhia region. The EU’s Foreign Policy Chief, Kaja Kallas, said yesterday that Putin “cannot be trusted”.

Security and intelligence: China sent 54 warplanes, including J-10 fighter jets and drones, to areas close to Taiwan yesterday as punishment for the Taiwanese Government’s promotion of “separatism”. A spokesman for the Chinese Government added that if Taiwan’s Government “dares to provoke and play with fire, it will only bring about its own destruction.”

Domestic politics: Chagossians living in the UK are taking legal action against the UK Government over a deal set to give the Chagos Islands to Mauritius. Mauritius claims the Islands as its own but Chagossians say they have not been consulted on the deal with Mauritius. The US, which has a military base on the Chagos Islands, has previously objected to the deal on national security grounds.

The Mighty Calendar

What’s happening today?

• President Trump expected to talk to President Putin about Ukraine

• President Macron and Chancellor Scholz discuss Ukraine in Berlin

• German MPs vote on debt plan to allow more defence and infrastructure investment

• Energy Questions in the UK Parliament

• US new housing data (February)

• US industrial and manufacturing production data (February)

• Canada CPI inflation data (February)

• Bank of Japan interest rate decision

• Company results from: Travis Perkins, Eni

Lookahead to tomorrow

• Prime Minister’s Questions in the UK Parliament

• Matt Hancock appears at the UK Covid-19 Inquiry

• US Federal Reserve interest rate decision

• Eurozone CPI inflation data (February)

• Company results from: Tencent

The Mighty Finale

🌤️Weather today

Sunshine across England. High of 11C and low of -1C in London. Sunny spells in Belfast. Sunshine in Edinburgh.

✏️Life coaching quote of the day

“We suffer more often in imagination than in reality.” – Seneca, Ancient Roman philosopher

Mighty takeaway: Your worries are never as bad in reality, so what’s the point of worrying?

That’s it for this morning. Thanks for reading and please join us for another edition tomorrow!

Cheerio!

The Mighty Memo team

Monday 17 March 2025

The Mighty Headlines

Economics: Price of gold reaches $3000 an once for the first time

Business: UK Government takes Apple to court over privacy settings

Markets: US stocks end high after a difficult week

Foreign Affairs: China condemns G7 countries as “arrogant”

Security and intelligence: US vows to continue striking Houthi rebels

Domestic politics: UK Health Secretary says NHS “addicted to spending”

The Mighty Stats

FTSE = 8,632.33 (up 1.05%)

S&P 500 = 5,638.94 (up 2.13%)

Nasdaq = 17,754.09 (up 2.61%)

CAC40 = 8,028.28 (up 1.13%)

£1 = $1.29 / €1.18

*Are you interested in sponsoring this briefing? Email us at hello@mightymemo.co.uk for more information*

The Mighty Detail

Economics: The price of gold reached $3,000 per ounce on Friday for the first time ever. The rise follows economic and trade tensions between the US and its trading partners. Gold is usually seen as a safe alternative in times of economic stress and prices have risen by 14 per cent since the start of the year.

Business: The UK Government is taking Apple to court over the right to access people’s data on Apple devices. The UK Home Office says that it should be able to access people’s data if there is a risk to national security. Apple says it is important to maintain privacy. The case at the Investigatory Powers Tribunal is being held in secret.

Markets: US stocks rose on Friday, after the Trump administration made no new announcements on tariffs. The day of relief for investors saw tech shares perform particularly strongly, with chipmaker Nvidia up by more than 5 per cent and Tesla up by nearly 4 per cent.

Foreign Affairs: China has condemned the G7 countries, calling them “filled with arrogance, prejudice and malicious intentions”. It comes after a meeting of the G7 on Friday, where members called China’s military activities in the South China Sea (particularly around Taiwan and the Philippines) “illicit, provocative, coercive and dangerous”. 

Security and intelligence: The US Defence Secretary, Pete Hegseth, said yesterday that the US would continue to strike the Houthi rebels in Yemen for as long as they continue to disrupt trade in the Red Sea. A US strike on Saturday killed at least 31 people. The Houthis, who started attacking shipping in 2023 in solidarity with Hamas in the Israel-Gaza conflict, have said they will “meet escalation with escalation”.

Domestic politics: The UK Health Secretary, Wes Streeting, has said that the NHS is “addicted to overspending”. He said yesterday that Integrated Care Boards, which were introduced to organise the delivery of health care services across England, have been asked to cut their running costs by 50 per cent.

The Mighty Calendar

What’s happening today?

Republic of Ireland public holiday (St Patrick’s Day)

UN talks on Cyprus begin

Work and Pensions Questions in the UK Parliament

US retail sales data (February)

Italy CPI inflation data (February)

South Korea trade data (February)

Company results from: UBS

Lookahead to tomorrow

President Macron and Chancellor Scholz discuss Ukraine in Berlin

German MPs vote on debt plan to allow more defence and infrastructure investment

Energy Questions in the UK Parliament

US new housing data (February)

US industrial and manufacturing production data (February)

Canada CPI inflation data (February)

Bank of Japan interest rate decision

Company results from: Travis Perkins, Eni

The Mighty Finale

🌤️Weather today

Sunny in the northeast of England. Overcast and dry elsewhere. High of 9C and low of 1C in London. Cloudy and dry in Belfast and Edinburgh.

✏️Life coaching quote of the day

“If you tell yourself that you cannot, what can the only outcome be?” – Shad Helmstetter, motivational writer

Mighty takeaway: What you say to yourself is powerful. Make a conscious effort to say things to yourself that will support you rather than undermine you.

That’s it for this morning. Thanks for reading and do join us for tomorrow’s edition.

Adios!

The Mighty Memo team

Friday 14 March 2025

The Mighty Headlines

Economics: Jobless claims for US federal employees high again

Business: John Lewis scraps staff bonus for a third year

Markets: Intel shares increase by nearly 15 per cent with new CEO

Foreign Affairs: Syria signs temporary constitution guaranteeing women’s rights

Security and intelligence: Huawei’s Brussels HQ searched by police

Domestic politics: UK Cabinet reportedly concerned about welfare cuts

The Mighty Stats

FTSE = 8,542.56 (up 0.019 per cent)

S&P 500 = 5,521.52 (down 1.39 per cent)

Nasdaq = 17,303.01 (down 1.96 per cent)

CAC40 = 7,938.21 (down 0.64 per cent)

£1 = $1.30 / €1.19

*Are you interested in sponsoring this briefing? Email us at hello@mightymemo.co.uk for more information*

The Mighty Detail

Economics: Weekly jobless claims in the US for federal employees remain high for a third week. There were 1,066 initial jobless claims in the week ending 8 March although this is down from 1,580 the previous week. The decision by Elon Musk’s Department of Government Efficiency to cut federal staff is likely to be a significant factor in the news.

Business: John Lewis has scrapped its famous staff bonus for a third year in a row. John Lewis says, however, that it is spending £114 million to increase employee pay this year. Profits before tax at the retailer have nearly tripled from £42 million in 2023 to £126 million in 2024.

Markets: Shares in Intel increased by nearly 15 per cent during trading yesterday. It comes as the technology company appointed Lip-Bu Tan as the new CEO. Tan was formerly CEO of a semiconductor software company. It is hoped that he can turn around Intel’s fortunes after the company’s value fell below $100 billion for the first time in 30 years last December.

Foreign Affairs: Syria’s interim president has signed a new temporary constitution that requires the separation of powers, guarantees women’s political rights and women’s rights to education and work but also puts the country under Islamist rule for a five-year transition phase. This means that Islamic law continues to be the main source of jurisprudence and the head of state is required to be a Muslim. A new committee will draft a permanent constitution.

Security and intelligence: Belgian police have searched Huawei’s headquarters in Brussels amid a corruption probe. There are reports that the Chinese technology company allegedly bribed former and current Members of the European Parliament. Homes in Belgium and Portugal have also been searched for evidence of money laundering, bribery and forgery.

Domestic politics: It is being reported that over half of the UK Cabinet has asked Chancellor Rachel Reeves to reconsider cuts to welfare and spending. Last week, the BBC reported that “several billion pounds” in draft spending cuts to welfare had been planned.

The Mighty Calendar

What’s happening today?

• Mark Carney is sworn in as Canada’s Prime Minister

• China, Russia and Iran meet to discuss nuclear capabilities

• Private Members’ Bills in the UK Parliament

• Cheltenham Gold Cup

• UK GDP data (January)

• UK industrial and manufacturing production data (January)

• France, Germany, Spain CPI inflation data (February)

• Company results from: Daimler, BMW

Lookahead to the weekend

Saturday

• Rugby Six Nations: Italy vs Ireland

• Rugby Six Nations: Wales vs England

• Rugby Six Nations: France vs Scotland

Sunday

• Miami Tennis Open begins

• Australian F1 Grand Prix

• All England Open Badminton Final 2025

• Rome and Los Angeles Marathons

• Bath, Surrey, and New York City Half Marathons

The Mighty Finale

🌤️Weather today

Wet in the southwest and northeast of England. Largely dry elsewhere. High of 9C and low of 1C in London. Dry in Belfast. Sunny spells in Edinburgh.

✏️Life coaching quote of the day

“Go to bed smarter than you woke up.” – Charlie Munger, investor

Mighty takeaway: Nothing to add!

That’s it for this week. We hope you enjoy the weekend and we’ll see you next week.

Adios!

The Mighty Memo team

Thursday 13 March 2025

The Mighty Headlines

Economics: Canada and EU impose retaliatory tariffs on the US

Business: Germany’s Rheinmetall announces 36 per cent increase in profits

Markets: US stocks rise on better-than-expected inflation news

Foreign Affairs: Measles outbreak in Morocco continues

Security and intelligence: Iran refuses to engage in nuclear talks

Domestic politics: UK expels Russian diplomats

The Mighty Stats

FTSE = 8,540.97 (up 0.53 per cent)

S&P 500 = 5,599.30 (up 0.49 per cent)

Nasdaq = 17,648.45 (up 1.22 per cent)

CAC40 = 7,988.96 (up 0.59 per cent)

£1 = $1.30 / €1.19

*Are you interested in sponsoring this briefing? Email us at hello@mightymemo.co.uk for more information*

The Mighty Detail

Economics: Canada has announced nearly $30 billion worth of retaliatory tariffs on US steel and aluminium imports after the US’s worldwide tariffs on the same products came into effect yesterday. Canada is the largest supplier of steel and aluminium to the US. The European Union is also affected by the US’s policy and is retaliating with $26 billion worth of tariffs on US goods.

Business: Rheinmetall has announced a 36 per cent increase in sales for 2024. Over the same period, the German arms manufacturer’s operating profit increased by 61 per cent to €1.48 billion. The company predicts that defence sales in 2025 will increase by between 35 and 40 per cent “given the dramatically changed security policy situation.”

Markets: US stock markets rose slightly yesterday on the news that US inflation was lower than expected. US inflation in February stood at 0.2 per cent, with the annual inflation rate at 2.8 per cent. This is lower than the 0.3 per cent and 2.9 per cent that had been expected.

Foreign Affairs: Morocco is dealing with an ongoing measles outbreak of “historic levels”. The Moroccan Government states that the “global anti-vax movement” is responsible for the recent low uptake of vaccinations against the disease. Since late 2023, there have been more 25,000 cases reported and 120 deaths.

Security and intelligence: Iran’s Supreme Leader, Ayatollah Ali Khamenei, yesterday rejected the offer of talks with the US on its nuclear capabilities. Yesterday evening, the UK issued a warning at the UN Security Council that it would trigger UN sanctions on Iran to prevent it developing a nuclear weapon.

Domestic politics: The UK Government has expelled a Russian diplomat after Moscow expelled two British diplomats last week. The UK Foreign Office has said that Russia’s attitude towards British diplomats effectively represents an attempt to close the British Embassy in Moscow.

The Mighty Calendar

What’s happening today?

• Business and Trade Questions in UK Parliament

• UK Prime Minister gives speech on reforms to how government works

• Michelle Obama to speak at South by Southwest Film Festival, Texas

• Data on UK MPs’ expenses published

• UK, France, Italy, Germany, China, Japan consumer sentiment data (March)

• Eurozone industrial production data (February)

• US PPI inflation data

• US jobless claims (weekly)

Lookahead to tomorrow

• China, Russia and Iran meet to discuss nuclear capabilities

• Private Members’ Bills in the UK Parliament

• Cheltenham Gold Cup

• UK GDP data (January)

• UK industrial and manufacturing production data (January)

• France, Germany, Spain CPI inflation data (February)

• Company results from: Daimler, BMW

The Mighty Finale

🌤️Weather today

Sunny spells in the southwest. Light rain elsewhere. High of 8C and low of -1C in London. Dry, with sunny spells in Belfast and Edinburgh.

✏️Life coaching quote of the day

“There is only one person responsible for the quality of life you live and that person is you.” – Jack Canfield, motivational speaker

Mighty takeaway: Take action to live the life you envisage for yourself.

That’s it for this Thursday. We’ll see you tomorrow.

Bye!

The Mighty Memo team

Wednesday 12 March 2025

The Mighty Headlines

Economics: China sets 5 per cent growth target for 2025

Business: Volkswagen reports 15 per cent drop in operating profit

Markets: Analysts downgrade prospects for US stocks

Foreign Affairs: Separatists in Pakistan take 35 train passengers hostage

Security and intelligence: Ukraine agrees to ceasefire proposal

Domestic politics: Bin workers go on indefinite strike in Birmingham

The Mighty Stats

FTSE = 8,495.99 (down 1.21 per cent)

S&P 500 = 5,572.07 (down 0.76 per cent)

Nasdaq = 17,436.10 (down 0.18 per cent)

CAC40 = 7,941.91 (down 1.31 per cent)

£1 = $1.29 / €1.19

*Are you interested in sponsoring this briefing? Email us at hello@mightymemo.co.uk for more information*

Breaking: Portugal’s government collapsed late yesterday evening after nearly all opposition parties voted against the government in a motion of confidence. The current centre-right government took office a year ago. Fresh elections are now expected in May.

The Mighty Detail

Economics: China’s annual National People’s Congress finished yesterday after a week of policy discussions. It set a new economic growth target of around 5 per cent for 2025 and a 7.2 per cent increase to the defence budget.

Business: Volkswagen has reported a 15 per cent fall in annual operating profit for 2024. The automaker stated that rising costs and a restructuring of the company were reasons behind the fall. Volkswagen also reported that vehicle sales fell by 3.5 per cent last year, with a particularly strong decline in China.

Markets: Analysts have cut their recommendation for US stocks. Citi Bank has downgraded its rating of US shares from 'overweight' to 'neutral'. Overweight shares outperform the market. Neutral shares keep pace with it. At the same time, Citi Bank has upgraded Chinese stocks to 'overweight'.

Foreign Affairs: A separatist militant group in Pakistan has taken 35 people hostage after blowing up a railway track and attacking a train. The Baloch Liberation Army (BLA) seeks independence from Pakistan and the release of Baloch prisoners. In August last year, the BLA killed 71 people in Balochistan province, accusing the Pakistan Government of selling out Balochistan’s rich natural resources to China.

Security and intelligence: Ukraine has said that it is ready to accept a 30-day ceasefire proposal on land, air and sea. It is being reported that Russia will make a statement once it has been briefed by the US. A US envoy may visit Moscow later this week.

Domestic politics: Bin workers have gone on an indefinite strike in Birmingham. The council has recruited 90 agency crews to fill in for the 200 crews usually on shift. This follows the council’s decision to end the designation of one worker as responsible for safety from the back of bin collection lorries. The Unite union claims that affected workers will lose £8,000 of their salary.

The Mighty Calendar

What’s happening today?

• Ireland’s Taoiseach meets President Trump at the White House

• G7 Foreign Ministers meet in Quebec, Canada

• NASA and SpaceX Crew-10 mission launch expected

• Prime Minister’s Questions in UK Parliament

• US CPI inflation data (February)

• US earnings data (February)

• Bank of Canada interest rate decision

• South Korea unemployment rate (February)

• Company results from: Balfour Beatty, Ferrexpo

Lookahead to tomorrow

• Business and Trade Questions in UK Parliament

• UK Prime Minister gives speech on reforms to how government works

• Michelle Obama to speak at South by Southwest Film Festival, Texas

• Data on UK MPs’ expenses published

• UK, France, Italy, Germany, China, Japan consumer sentiment data (March)

• Eurozone industrial production data (February)

• US PPI inflation data

• US jobless claims (weekly)

The Mighty Finale

🌤️Weather today

Sunshine and showers in most of England. High of 9C and low of 2C in London. Bright sunshine in Belfast. Light rain in Edinburgh.

✏️Life coaching quote of the day

“If you talk about it, it’s a dream. If you envision it, it’s possible. If you schedule it, it’s real.” – Tony Robbins, motivational speaker

Mighty takeaway: Stop thinking about the goal or dream in your head. Take action to make it a reality.

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

Bye!

The Mighty Memo team

Tuesday 11 March 2025

The Mighty Headlines

Economics: Ontario increases electricity prices to the USA

Business: Virgin seeks to create rival to Eurostar

Markets: US stocks fall as recession fears increase

Foreign Affairs: General Election in Greenland today

Security and intelligence: Syria’s President reacts to recent violence

Domestic politics: UK concerned about China’s activity in South China Sea

The Mighty Stats

FTSE = 8,600.22 (down 0.92 per cent)

S&P 500 = 5,614.56 (down 2.7 per cent)

Nasdaq = 17,468.32 (down 4 per cent)

CAC40 = 8,047.60 (down 0.9 per cent)

£1 = $1.29 / €1.19

*Are you interested in sponsoring this briefing? Email us at hello@mightymemo.co.uk for more information*

The Mighty Detail

Economics: Ontario is increasing the price of the electricity it supplies to the US by 25 per cent. This is in response to the US Government’s recent tariffs on Canada. The Premier of Ontario, Doug Ford, said that the surcharge would increase further if US tariffs increase further. Ontario provides electricity to 1.5 million Americans in New York, Michigan and Minnesota.

Business: Virgin Group is looking to raise £700 million to start a cross-Channel rail service. It comes as the Channel Tunnel’s owners seek to increase passenger numbers. Eurostar, however, is frustrating access (it currently has a monopoly on cross-Channel rail service) and so Virgin is appealing to the UK’s rail regulator.

Markets: US stock markets continued to fall during trading yesterday as fears of a recession approach in the United States. The Nasdaq fell by 4 per cent, Bitcoin has fallen below $80,000 and US government bond yields continue to increase as their prices fall. President Trump has refused to rule out the possibility of a recession.

Foreign Affairs: The residents of Greenland are voting in a General Election today. Greenland controls its own domestic policies but foreign and defence policies are led by Denmark. Separately, President Trump has stated his intention to acquire the territory.

Security and intelligence: The interim President of Syria, Ahmed Sharaa, has said that the recent surge in fighting in Syria has threatened his goal of uniting the country. Although he stated that the violence was started by people loyal to former President Assad, Sharaa added that those responsible for revenge killings on the Alawite community (the same religious sect as former President Assad) would also be punished.

Domestic politics: The British Foreign Secretary has said that he is concerned about China’s “dangerous and destabilising” activity in the South China Sea. He highlighted the effect on the Philippines and added that the UK economy depends on secure trade routes through the waters.

The Mighty Calendar

What’s happening today?

French, British, German, Italian and Polish Defence Ministers meet in Paris

US-Ukraine-Russia talks expected to begin in Saudi Arabia

General Election in Greenland

Justice Questions in UK Parliament

Japan PPI inflation data (February)

Company results from Volkswagen, Persimmon

Lookahead to tomorrow

G7 Foreign Ministers meet in Quebec, Canada

NASA and SpaceX Crew-10 mission launch expected

Prime Minister’s Questions in UK Parliament

US CPI inflation data (February)

US earnings data (February)

Bank of Canada interest rate decision

South Korea unemployment rate (February)

Company results from: Balfour Beatty, Ferrexpo

The Mighty Finale

🌤️Weather today

Dry but cloudy in most of England. Light rain in the northeast. High of 9C and low of 1C in London. Sunny spells in Belfast and Edinburgh.

✏️Life coaching quote of the day

“The best way to predict the future is to create it.” – Peter Drucker, management consultation and educator

Mighty takeaway: You are in charge of your life. Decide what you want to do with it.

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

Adios!

The Mighty Memo team

Monday 10 March 2025

The Mighty Headlines

Economics: UK house prices fall in February

Business: Boots bought for $10 billion by US private equity firm

Markets: US markets fall by over 3 per cent following US tariff policy

Foreign Affairs: Mark Carney set to be new Canadian Prime Minister

Security and intelligence: Poland to give all men military training

Domestic politics: UK Government talks to Fujitsu about Post Office money

The Mighty Stats

FTSE = 8,679.88 (down 0.034 per cent)

S&P 500 = 5,770.20 (up 0.55 per cent)

Nasdaq = 18,196.22 (up 0.7 per cent)

CAC40 = 8,120.80 (down 0.94 per cent)

£1 = $1.29 / €1.19

*Are you interested in sponsoring this briefing? Email us at hello@mightymemo.co.uk for more information*

The Mighty Detail

Economics: UK house prices fell by 0.1 per cent in February compared to the month before. Prices had been estimated to increase by 0.3 per cent. The average price of a house in the UK now stands at £298,602. Compared with a year before, however, UK house prices increased by 2.9 per cent.

Business: Walgreens Boots Alliance, the owner of Boots the chemist, is to be taken over for $10 billion by a US private equity firm. The US private equity firm, Sycamore Partners, is expected to complete the buyout by the end of the year.

Markets: US markets fell last week as investors reacted to President Trump’s tariff regime. The S&P 500 fell by 3.1 per cent – its worst weekly performance since September 2024 – while the Nasdaq fell by 3.5 per cent. US Treasury Secretary, Scott Bessent, admitted that the economy was starting to “roll a bit” but said it was a result of the transition to a new government.

Foreign Affairs: Mark Carney has been elected as the new leader of the Canadian Liberal Party and is set to become the new Prime Minister of Canada. He is a former Governor of the Bank of Canada and of the Bank of England. Current Prime Minister Justin Trudeau will step down but a date for the handover of power has not yet been set.

Security and intelligence: Poland is to give all men military training to counteract Russian aggression. This is part of a wider aim to create a 500,000 strong army. Poland is set to spend 4.7 per cent of GDP on defence this year. This is the highest level in NATO.

Domestic politics: The UK Government has met with directors at Fujitsu to discuss compensation for victims of the Post Office IT Horizon scandal. Over £768 million has already been paid to over 5,100 claimants through various existing redress schemes.

The Mighty Calendar

What’s happening today?

• King Charles attends Commonwealth Day service, Westminster Abbey

• President Zelensky meets Crown Prince Bin Salman, Saudi Arabia

• China’s tariffs on US goods come into effect

• Education Questions in UK Parliament

• Japan GDP data (Q4 2024)

• Germany trade data (January)

• Germany industrial production data (January)

• Company results from: BioNTech, Oracle

Lookahead to tomorrow

• French, British, German, Italian and Polish Defence Ministers expected to meet in Paris

• US-Ukraine-Russia talks expected to begin in Saudi Arabia

• General Election in Greenland

• Justice Questions in UK Parliament

• Japan PPI inflation data (February)

• Company results from Volkswagen, Persimmon

The Mighty Finale

🌤️Weather today

Sunny spells in England. High of 15C and low of 6C in London. Cloudy but dry in Belfast. Rain in Edinburgh.

✏️Life coaching quote of the day

“Don't judge each day by the harvest you reap but by the seeds that you plant.” – Robert Louis Stevenson

Mighty takeaway: You may not see the results immediately but small, consistent steps will create the change you are seeking.

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

Bye!

The Mighty Memo team

Friday 7 March 2025

The Mighty Headlines

Economics: ECB cuts interest rates to 2.5 per cent

Business: Klarna set for IPO in New York

Markets: European government bond yields rise

Foreign Affairs: All EU countries except Hungary agree on more Ukraine aid

Security and intelligence: Syrian forces clash with Assad loyalists

Domestic politics: UK and Ireland agree on energy and security cooperation

The Mighty Stats

FTSE = 8,682.84 (down 0.83 per cent)

S&P 500 = 5,738.52 (down 1.78 per cent)

Nasdaq = 18,069.26 (down 2.61 per cent)

CAC40 = 8,197.67 (up 0.29 per cent)

£1 = $1.29 / €1.19

*Are you interested in sponsoring this briefing? Email us at hello@mightymemo.co.uk for more information*

US Government special update: President Trump has now paused tariffs on Mexican and Canadian goods after his administration imposed 25 per cent tariffs on both countries earlier this week. The goods covered by the pause fall under the existing US-Mexico-Canada trade agreement.

The Mighty Detail

Economics: The European Central Bank cut interest rates to 2.5 per cent yesterday. This is the sixth rate cut since June 2024 and comes as inflation in the Eurozone fell to 2.4 per cent in February.

Business: Klarna is set to go for an Initial Public Offering (IPO) in New York. The “pay-now-buy-later” company is reportedly looking to raise $1 billion in New York. The decision to list in New York is seen by some as a further blow to the London Stock Exchange. The IPO will make Klarna, currently a private Swedish company, a public company with shares for purchase.

Markets: European bond yields continued to climb during trading yesterday. This follows the expectation of significant borrowing to fund European defence spending. Bond yields move inversely to price and an increase in borrowing increases the supply of government debt, leading prices to fall. On Wednesday, German bonds had their worst day since the fall of the Berlin Wall.

Foreign Affairs: Following a special European Council summit yesterday, all 27 EU leaders agreed to increase European defence spending. The majority of EU leaders also agreed to continue sending military aid to Ukraine. Only Hungary’s leader, Prime Minister Viktor Orban, refused.

Security and intelligence: Fighters associated with former Syrian President Bashir al-Assad have attacked Government forces in the coastal area of Jableh. State media describe the attack as deadly and well-planned. Al-Assad was deposed three months ago.

Domestic politics: As part of the first UK-Ireland summit yesterday, Ireland has announced £185 million of investment in the UK. The UK Prime Minister and the Irish Taoiseach also agreed to enhance cooperation on security, technology and offshore energy among others.

The Mighty Calendar

What’s happening today?

• US Federal Reserve Chair addresses the Chicago Booth Monetary Policy Forum

• UK and Japan Foreign Ministers and Economy Ministers meeting

• Private Members’ Bills debated in UK Parliament

• UK house price data (February)

• China, France trade data (January)

• Eurozone employment data (Q4 2024)

• Eurozone GDP data (Q4 2024)

Lookahead to the weekend

Saturday

• International Women’s Day

• Special Olympics World Winter Games begin (ends 15th March)

• Rugby Six Nations: Ireland vs France

• Rugby Six Nations: Scotland vs Wales

Sunday

• Canada Liberal Party leadership election

• Rugby Six Nations: England vs Italy

The Mighty Finale

🌤️Weather today

Sunny spells in the southeast and northeast of England. Rain in the southwest and northwest. High of 15C and low of 7C in London. Light rain in Belfast and Edinburgh.

✏️Life coaching quote of the day

“You've been criticising yourself for years and it hasn't worked. Try approving of yourself and see what happens.” – Louise Hay, motivational writer

Mighty takeaway: When has negative self-talk ever helped you?

That’s it for this Friday morning. See you next week!

Adios!

The Mighty Memo team

Thursday 6 March 2025

The Mighty Headlines

Economics: Trump delays automotive tariffs for one month

Business: IAG CEO’s pay increases to £4.6 million

Markets: Shares in car makers rise

Foreign Affairs: Special European Council summit today on defence

Security and intelligence: China increases defence spending by 7.2 per cent

Domestic politics: UK Government consults on future of the North Sea

The Mighty Stats

FTSE = 8,755.84 (down 0.036 per cent)

S&P 500 = 5,842.63 (up 1.12 per cent)

Nasdaq = 18,552.73 (up 1.46 per cent)

CAC40 = 8,173.75 (up 1.56 per cent)

£1 = $1.29 / €1.20

*Are you interested in sponsoring this briefing? Email us at hello@mightymemo.co.uk for more information.*

The Mighty Detail

Economics: President Trump is to delay automotive tariffs on Canada and Mexico for one month. According to analysts, the tariffs would have disrupted one third of car production in North America within one week.

Business: The CEO of British Airways’ owner IAG has seen his pay increase to £4.6 million for 2024. Luis Gallego’s pay is linked to the increase in value of IAG shares from around 150 pence at the start of 2024 to around 325 pence today. IAG also reported a record operating profit of £3.6 billion in its annual report.

Markets: Shares in car markers increased during trading yesterday, following the announcement that the US would delay automotive tariffs on Canada and Mexico. Shares in Ford, General Motors and Stellantis (which owns Citroen, Chrysler and Fiat among others) rose by more than 5 per cent, 7 per cent and 9 per cent respectively.

Foreign Affairs: The European Council meets for a special summit today to discuss European defence and the Ukraine war. Ahead of the meeting, the European Commission announced plans to generate €800 billion of defence investment over the next four years. Around €150 billion of this would be money borrowed on the capital markets and then lent to member states.

Security and intelligence: China has said that it plans to increase its defence spending by 7.2 per cent this year. This will make its defence budget worth around $245 billion. The growth rate for China’s defence spending was the same in 2024 and in 2023.

Domestic politics: The UK Government is consulting on the future of fossil fuel and renewable energy production in the North Sea. As part of the plans, the existing windfall tax on North Sea oil and gas producers would be removed from 2030 but new drilling licences would be banned.

The Mighty Calendar

What’s happening today?

• Eurozone interest rate decision

• Special European Council on Defence and Ukraine (President Zelensky expected to attend)

• US Special Envoy to Ukraine speaks at US Council on Foreign Relations

• Cabinet Office Questions in UK Parliament

• Eurozone construction growth data (February)

• Eurozone retail sales data (January)

• US unemployment data (weekly)

• Company results from: Lufthansa, Costco, Air France KLM

Lookahead to tomorrow

• US Federal Reserve Chair addresses the Chicago Booth Monetary Policy Forum

• UK and Japan Foreign Ministers and Economy Ministers meeting

• Private Members’ Bills debated in UK Parliament

• UK house price data (February)

• China, France trade data (January)

• Eurozone employment data (Q4 2024)

• Eurozone GDP data (Q4 2024)

The Mighty Finale

🌤️Weather today

Sunny in most of England apart from the southwest. High of 15C and low of 9C in London. Cloudy in Belfast. Sunny in Edinburgh.

✏️Life coaching quote of the day

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

Mighty takeaway: Take control of your day. Schedule your time and make sure you prioritise what really matters to you.

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

Adios!

The Mighty Memo team

Wednesday 5 March 2025

The Mighty Headlines

Economics: Eurozone unemployment remains steady

Business: OPEC set to increase oil production

Markets: US futures rise as US Commerce Secretary suggests tariffs relief

Foreign Affairs: China’s National People’s Congress opened today

Security and intelligence: Russian missile experts visit Iran

Domestic politics: UK Chancellor issues warning about US tariffs

The Mighty Stats

FTSE = 8,759.00 (down 1.27 per cent)

S&P 500 = 5,778.15 (down 1.22 per cent)

Nasdaq = 18,285.16 (down 0.35 per cent)

CAC40 = 8,047.92 (down 1.85 per cent)

£1 = $1.28 / €1.20

*US update: In his address to a Joint Session of the US Congress last night, President Trump touted his actions on tariffs, freezing foreign aid and reducing illegal immigration. He also repeated his wish to take control of Greenland and the Panama Canal.*

The Mighty Detail

Economics: The latest figures shows that Eurozone unemployment remained unchanged in January 2025. Unemployment in the Eurozone stood at 6.2 per cent in January. This is the same figure as December 2024.

Business: OPEC has said that it will increase oil production from April. Over the next 18 months, production will increase to 2.2 million barrels a day. This represents 2 per cent of global demand. The price of crude oil fell to $67.8 per barrel following the news.

Markets: US futures increased in value during late trading yesterday. Futures, which continue to be traded after the stock markets close, rose after US Commerce Secretary Howard Lutnick hinted that tariffs on Mexico and Canada could be reduced. Lutnick said that President Trump would “meet in the middle” and consider reducing tariffs if Mexico and Canada “do more”.

Foreign Affairs: China’s National People’s Congress started today. The Congress, which ends in a week’s time, decides on key government policies for the coming year including an economic growth target.

Security and intelligence: There are reports that seven Russian missile experts travelled to Iran last year. Although it has not been publicly confirmed, the group is likely to have been on official state business. It is thought that they visited Iranian missile production facilities, including two facilities underground. 

Domestic politics: The UK Chancellor, Rachel Reeves, has said that the UK will be affected by US tariffs even if they aren’t applied to UK goods. Reeves stated that the UK would be affected “by slowing global trade, by a slower GDP growth and by higher inflation”.

The Mighty Calendar

What’s happening today?

China National People’s Congress begins

India’s Foreign Minister speaks at Chatham House, London

Former UK PM Rishi Sunak’s interview airs on BBC Radio 4 at 8.00pm

Prime Minister’s Questions in the UK Parliament

UK, US, Eurozone services growth data (February)

South Korea CPI inflation data (February)

Company results from: Bayer, Atos

Lookahead to tomorrow

Eurozone interest rate decision

Special European Council on Defence and Ukraine (President Zelensky expected to attend)

US Special Envoy to Ukraine speaks at US Council on Foreign Relations

Cabinet Office Questions in UK Parliament

Eurozone construction growth data (February)

Eurozone retail sales data (January)

US unemployment data (weekly)

Company results from: Lufthansa, Costco, Air France KLM

The Mighty Finale

🌤️Weather today

Sunny in England. High of 15C and low of 4C in London. Cloudy in Belfast and rain in Edinburgh.

✏️Life coaching quote of the day

“It's not what you've got, it's what you use that makes a difference.” – Zig Ziglar, motivational speaker

Mighty takeaway: Nothing to add!

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

Bye!

The Mighty Memo team

Tuesday, 4 March 2025

The Mighty Headlines

Economics: US imposes tariffs on Canada, Mexico and China today

Business: UK manufacturing declines to lowest level in 14 months

Markets: Cryptocurrencies rise after US promises a national crypto reserve

Foreign Affairs: Pakistan and Afghanistan trade fire at their border

Security and intelligence: US pauses offensive cyber ops against Russia

Domestic politics: UK Reform Party leader accused of equivocating over Russia

The Mighty Stats

FTSE = 8,871.31 (up 0.7 per cent)

S&P 500 = 5,849.72 (down 1.76 per cent)

Nasdaq = 18,350.19 (down 2.64 per cent)

CAC40 = 8,199.71 (up 1.09 per cent)

£1 = $1.27 / €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: The US is imposing tariffs today of 25 per cent on Canada and Mexico and tariffs of 20 per cent on China. There are concerns that inflation will increase in the US because tariffs will increase the price of imported goods.

Business: Activity in the UK’s manufacturing sector has dropped to its lowest level in 14 months. The S&P PMI index stands at 46.9. Any figure below 50 indicates a contraction. S&P, which compiled the index, added that the manufacturing industry was losing jobs at its highest rate since mid-2020.

Markets: The price of cryptocurrencies increased to around $90,000 after President Trump announced that he wants that US Government to create a strategic reserve of digital assets. The US Government reserve would include Bitcoin as well as other assets. President Trump will host cryptocurrency leaders at a summit at the White House on Friday.

Foreign Affairs: Pakistani and Afghan forces traded fire yesterday at a northwestern border crossing. The Torkham crossing has been closed for 11 days because Pakistan objects to Afghanistan building a new border post. Around 5,000 lorries are stuck on both sides of the crossing.

Security and intelligence: The US Defence Secretary, Pete Hegseth, has asked the US Cyber Command to pause offensive cyber operations against Russia. A reason for the order has not been given but it could affect Ukraine’s digital defences against Russia. US National Security Advisor, Mike Waltz, said that there would be “all kinds of carrots and sticks to get this war to an end".

Domestic politics: The Leader of the UK Reform Party, Nigel Farage, has been accused by the Conservative and Liberal Democrat parties of equivocating over Russia’s war in Ukraine. Farage said yesterday that President Zelensky had been “rude” to Donald Trump but added that he was not “defending” how President Trump and Vice President Vance behaved.

The Mighty Calendar

What’s happening today?

• Shrove Tuesday

• Brazil public holiday (Carnival)

• President Trump addresses Joint Session of the US Congress

• Treasury Questions in UK Parliament

• Eurozone unemployment data (January)

• Japan, China services growth data (February)

• Company results from: Saudi Aramco, CrowdStrike, abrdn

Lookahead to tomorrow

• China National People’s Congress begins

• India’s Foreign Minister speaks at Chatham House, London

• Former UK PM Rishi Sunak’s interview airs on BBC Radio 4 at 8.00pm

• Prime Minister’s Questions in the UK Parliament

• UK, US, Eurozone services growth data (February)

• South Korea CPI inflation data (February)

• Company results from: Bayer, Atos

The Mighty Finale

🌤️Weather today

Another sunny day for the UK! High of 12C and low of 0C in London. Sunny in Belfast and Edinburgh too.

✏️Life coaching quote of the day

“The mystery of life isn’t a problem to solve, but a reality to experience.” – Frank Herbert, author

Mighty takeaway: Don’t focus on the challenges in life. Focus on the rich experiences you can create instead.

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

Adios!

The Mighty Memo team

Monday, 3 March 2025

The Mighty Headlines

Economics: China’s manufacturing output grows in February

Business: Business confidence in UK increases to highest since August 2024

Markets: European stocks grow for 10 consecutive weeks

Foreign Affairs: Hamas rejects ceasefire extension

Security and intelligence: European leaders pledge more defence support

Domestic politics: UK Parliamentary committee criticises HS2’s “unacceptable” costs

The Mighty Stats

FTSE = 8,809.74 (up 0.61 per cent)

S&P 500 = 5,954.50 (up 1.59 per cent)

Nasdaq = 18,847.28 (up 1.63 per cent)

CAC40 = 8,111.63 (up 0.11 per cent)

£1 = $1.26 / €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: Manufacturing activity in China grew in February for the first time in two months. The Purchasing Managers’ Index stood at 50.2 for the month. Any figure above 50 indicates growth in activity.

Business: New data from Lloyds bank suggests that business confidence in the UK increased by 12 points in February. It now stands at the highest level since August 2024. Economic optimism increased by 18 points which is the largest monthly increase since 2020.

Markets: The European stock markets ended Friday with a 10th consecutive week of growth. The pan-European Stoxx 600 grew by more than 3 per cent in February. This compares with a 2.5 per cent fall for the S&P 500 in February. A brighter economic outlook in Europe and the prospect of an end to the war in Ukraine may be factors in higher valuations in Europe.

Foreign Affairs: Israel has accepted the US’s proposal to extend the ceasefire with Hamas but Hamas has rejected it. In response to Hamas’s rejection, Israel has said that it will stop all goods and supplies into Gaza. The first ceasefire expired on Saturday. The new ceasefire would have lasted until the 20th April to cover Ramadan and Passover.

Security and intelligence: European and NATO countries agreed to increase their defence capabilities and their support for Ukraine at a meeting in London yesterday. The UK Prime Minister Sir Keir Starmer reiterated that the UK would put “boots on the ground and planes in the air” to defend Ukraine. The European Commission President, Ursula von der Leyen said that Europe must “urgently” rearm and “prepare for the worst”. An emergency EU summit will be held on Thursday to discuss Ukraine and European defence.

Domestic politics: A UK Parliamentary committee has said that the High Speed 2 rail project between London and Birmingham is a “cautionary tale” on how “not to run a major project”. The Public Accounts Committee, which scrutinises public spending, added that current construction contracts are “unacceptable to the public purse”. HS2 Limited said that it is now taking action to “get the project back on track at the lowest feasible cost”.

The Mighty Calendar

What’s happening today?

·    Brazil public holiday (Carnival)

·    South Korea public holiday (Independence Movement Day)

·    Housing and Local Government Questions in UK Parliament

·    UK, US, Eurozone manufacturing growth data (February)

·    Eurozone CPI inflation data (February)

·    South Korea industrial product and retail sales data (January)

·    Japan unemployment data (January)

Lookahead to tomorrow

·    Shrove Tuesday

·    Brazil public holiday (Carnival)

·    President Trump addresses Joint Session of the US Congress

·    Treasury Questions in UK Parliament

·    US tariffs on Canada and Mexico and further tariffs on Chinese goods expected

·    Eurozone unemployment data (January)

·    Japan, China services growth data (February)

The Mighty Finale

🌤️Weather today

A dry and sunny day for most of the UK. High of 11C and low of -1C in London. Light cloud in Belfast and sunny spells in Edinburgh.

✏️Life coaching quote of the day

“Don’t wait around for other people to be happy for you. Any happiness you get you’ve got to make yourself.” – Alice Walker, novelist

Mighty takeaway: Only you can decide to be happy.

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

Bye!

The Mighty Memo team