Your morning

briefing.

Small but

Mighty.

Mighty Memo Mighty Memo

Friday, 20 December 2024

Special Festive Edition, seasonal cheer, goodwill, and more inside…

TO:                  Mighty Memo Readers

FROM:             Mighty Memo Editorial Department

 

SUBJECT:        Christmas holidays

 

The Mighty Memo office will be closed between Monday, 23rd December and Friday, 3rd January. Your next issue of the Mighty Memo will arrive in your inbox on Monday, 6th January. If you wish to contact us during this time, please send your email to hello@mightymemo.co.uk. We will respond to you as soon as we can. As this year comes to an end, we also want to say thank you for subscribing to the Mighty Memo – we’re grateful for your support and loyalty – and we hope you enjoy this special festive edition of the Mighty Memo. Happy Christmas, happy new year and happy holidays!

 

Friday, 20th December 2024 – Special Festive Edition – www.mightymemo.co.uk

 

The Mighty Headlines

 

  • Business: Knitted figures of Mary and Joseph visit London’s commuters

  • Markets: Manchester’s Christmas markets deemed most scenic in the UK

  • Foreign Affairs: Santa Claus train re-starts in Japan

  • Security and intelligence: Finnish PM invites EU leaders to Lapland tomorrow

  • Domestic politics: UK Aviation Authority gives Santa permission to enter UK airspace

 

The Mighty Stats

 

  • FTSE = 8,105.32 (down 1.14 per cent at Thursday close)

  • S&P500 = 5,867.08 (down 0.087 per cent at Thursday close)

  • Nasdaq = 19,372.77 (down 0.1 per cent at Thursday close)

  • CAC40 = 7,294.37 (down 1.22 per cent at Thursday close)

 

  • £1 = $1.25 / €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

 

Business: Miniature knitted figures of Mary, Joseph, a donkey and the angel Gabriel have been giving workers and commuters reminders of the Christmas story on London’s underground. The small, knitted figures were bought off eBay by Father Chrichton Limbert and are pictured at underground stations including Gospel Oak, Angel, Carpenders Park, Marylebone and Covent Garden.

 

Markets: Manchester’s Christmas markets have been named the most scenic in the UK by Jessops. The photography store compiled the list based on the number of Instagram hashtags for each location. Edinburgh was the second-most scenic. London’s Hyde Park Winter Wonderland was deemed to be the third-most scenic.

 

Foreign Affairs: Every year, a Santa Claus train runs in western Japan. The seasonal train is decorated with Christmas ornaments. University students, dressed in Santa Claus and reindeer outfits, also give out presents and quizzes to children. The train is again in operation and runs until the 25th December.

 

Security and intelligence: Finland’s Prime Minister is inviting EU leaders to Lapland tomorrow for a mini-political summit. The EU’s Foreign Affairs and Security Policy Chief, Kaja Kallas, and the Prime Ministers of Italy, Greece and Sweden will be attending. They are due to discuss European security, defence, migration and border security.

 

Domestic politics: The UK Civil Aviation Authority (CAA) has confirmed that Santa Claus has been given permission to enter UK airspace on Christmas Eve. The CAA has also confirmed that Santa Claus’s sleigh has passed vital safety checks, with CAA staff making sure that:

  • Presents are stowed away safely and securely;

  • The aircrew understand the vehicle’s “elf” and safety procedures;

  • Christmas cheer is handled by qualified experts; and

  • The sleigh bells ring at an acceptable decibel level.

 

The Mighty Calendar

 

What’s happening today?

 

  • UK Christmas Number One song announced

  • UK, Canada retail sales data (November)

  • UK Government budget deficit data (November)

  • Germany, France, Italy PPI inflation data (November)

  • Eurozone consumer confidence data (December)

  • United States personal spending data (November)

 

Lookahead to the weekend

 

Saturday

  • Winter solstice celebrations at Stonehenge

  • Tyson Fury versus Oleksandr Usyk II, Saudi Arabia

  • Tours available of The Charterhouse, London

 

Sunday

  • Spain’s annual ‘El Gordo’ lottery draw (€2.7 billion of prize money!)

  • Christmas carol service in most churches and cathedrals this evening

 

The Mighty Finale

 

🌤️Weather today

 

Patchy rain in England, Northern Ireland and Scotland. No snow forecast for Christmas but you never know…For the Met Office to declare a “white Christmas” a single snowflake must be observed by a Met Office observer or automated weather station on the 24 hours of Christmas Day.

 

✏️Life coaching quote of the day

 

“There is nothing in the world so irresistibly contagious as laughter and good humour.” – Charles Dickens, A Christmas Carol

 

Mighty takeaway: It’s simple. Decide to be happy. Make time to do one thing you enjoy doing every day. Too many of us don’t.

 

That’s about it for today’s edition and for this year. We’ll see you in 2025!

 

Adios!

 

The Mighty Memo team

Read More
Mighty Memo Mighty Memo

Thursday, 19 December 2024

US Federal Reserve cuts interest rates, Nissan shares soar, US military spending increases to £895 billion and more…

*Look out for a special festive edition of the Mighty Memo tomorrow!*

 

The Mighty Headlines

 

  • Economics: US Federal Reserve cuts interest rates

  • Business: US Supreme Court to hear TikTok ban appeal on the 10th January

  • Markets: Nissan shares rise by over 23 per cent after Honda merger news

  • Foreign Affairs: France’s top court upholds Nicolas Sarkozy’s corruption verdict

  • Security and intelligence: US Senate authorises $895 billion of military spending

  • Domestic politics: English councils receive £700 million of funding mostly for NICs rise

 

The Mighty Stats

 

  • FTSE = 8,199.11 (up 0.048 per cent at Wednesday close)

  • S&P500 = 5,872.16 (down by 2.95 per cent at Wednesday close)

  • Nasdaq = 19,392.69 (down by 3.56 per cent at Wednesday close)

  • CAC40 = 7,384.62 (up 0.26 per cent at Wednesday close)

 

  • £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 Federal Reserve has cut interest rates to between 4.25 per cent and 4.5 per cent – back to the rate of December 2022. The US Federal Reserve gives a range rather than a single figure. Chair of the Federal Reserve, Jerome Powell said that the Fed may now be more cautious about future adjustments.

 

Business: The US Supreme Court will hear an appeal against a law that would ban TikTok. A law passed earlier this year requires TikTok to separate itself from ByteDance, its China-based parent company, by the 19th January or it will be banned. The US Government sees the Chinese connection as a threat to national security. The Supreme Court hearing will take place on the 10th January.

 

Markets: Shares in Nissan rose by 23.7 per cent yesterday – their best performance in a day since at least 1985 when comparable records began. This follows news of a possible merger between Nissan and Honda as mentioned in the Mighty Memo yesterday. Shares in Honda meanwhile fell by 3 per cent.

 

Foreign Affairs: France’s highest court has upheld a verdict of corruption and influence peddling against France’s former President, Nicolas Sarkozy. The decision by the Cour de Cassation means that Sarkozy will be required to wear an electronic tag for a year. Sarkozy says he plans to appeal to the European Court of Human Rights.

 

Security and intelligence: The US Senate has passed legislation that increases military spending to $895 billion. This means that defence spending is increasing by 1 per cent overall. The legislation also provides a 14.5 per cent pay increase for junior armed forces personnel, establishes a fund that could be used to send military equipment to Taiwan and extends restrictions on the US military buying products from China.

 

Domestic politics: The UK Government has announced that local councils in England are set to receive an additional £700 million next year. This comes on top of an additional £1.3 billion announced at the Budget. Of the £700 million, however, £515 million will be used to pay for the national insurance increases announced at the Budget.

 

The Mighty Calendar

 

What’s happening today?

 

o   European Council summit, Brussels (Ukraine’s President Zelensky to attend)

o   President Putin’s annual press conference

o   Sir Keir Starmer appears before the Liaison Committee in UK Parliament

o   Defra Questions in UK Parliament

o   Bank of England interest rate decision

o   UK, Italy, Germany, France car registrations data (November)

o   US GDP data (Q3 2024)

o   US unemployment data (weekly)

o   Japan CPI inflation data (November)

o   Korea PPI inflation data (November)

o   New Zealand trade data (November)

o   Company results from: FedEx, Blackberry

 

Lookahead to tomorrow

 

o   UK Christmas Number One song announced

o   UK, Canada retail sales data (November)

o   UK Government budget deficit data (November)

o   Germany, France, Italy PPI inflation data (November)

o   Eurozone consumer confidence data (December)

o   United States personal spending data (November)

 

The Mighty Finale

 

🌤️Weather today

 

Generally dry in England. High of 8oC and low of 2oC. Patchy rain in Belfast. Bright sunshine again in Edinburgh!

 

✏️Life coaching quote of the day

 

“If you are distressed by anything external, the pain is not due to the thing itself, but to your estimate of it; and this you have the power to revoke at any moment.” – Marcus Aurelius, Roman emperor and philosopher.

 

Mighty takeaway: You give an interpretation to the events in your life. Any concerns and worries come from that interpretation. But you can change that interpretation.

 

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

 

Bye for now!

 

The Mighty Memo team

Read More
Mighty Memo Mighty Memo

Wednesday, 18 December 2024

US Federal Reserve interest rate announcement, Honda and Nissan possible merger, Russia intensifies Kursk offensive and more…

The Mighty Headlines

 

·       Economics: US Federal Reserve interest rate announcement today

·       Business: Honda and Nissan prepare merger talks

·       Markets: Dow Jones hits a 9-day losing streak, the first since 1978

·       Foreign Affairs: Syria’s al-Jowlani states rebel groups will be disbanded

·       Security and intelligence: Russia makes new bid for Kursk and Donetsk

·       Domestic politics: UK Government increases police funding by £1 billion

 

The Mighty Stats

 

·       FTSE = 8,195.20 (down 0.81 per cent at Tuesday close)

·       S&P500 = 6,050.61 (down 0.39 per cent at Tuesday close)

·       Nasdaq = 20,109.06 (down 0.32 per cent at Tuesday close)

·       CAC40 = 7,365.70 (up 0.12 per cent at Tuesday close)

 

·       £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 Federal Reserve will announce its interest rate decision today. A cut in the rate is expected, despite above-target inflation. Separately, UK unemployment remained unchanged yesterday at 4.3 per cent. UK wages rose by 5.2 per cent between August and October. This data suggests that the Bank of England will not cut interest rates when it meets on Thursday. 

 

Business: Automotive manufacturers Honda and Nissan are preparing to start merger negotiations. The possible merger would help Honda and Nissan compete with Toyota and Tesla as well as with competitors in China.

 

Markets: The Dow Jones Industrial Average – an index of 30 US stocks – fell by 0.61 per cent yesterday. This was its ninth day of consecutive falls and the first nine-day fall since 1978. The Dow Jones contains fewer high-growth tech stocks than other indexes such as the Nasdaq or S&P 500.

 

Foreign Affairs: Mohammed al-Jowlani, the leader of the HTS group now governing Syria, has said that Syrian rebel groups will be disbanded and trained to join the “ranks of the defence ministry”. He added that “Syria must remain united”. UK diplomats met al-Jowlani earlier this week. US officials have also made contact with the new regime.

 

Security and intelligence: Russia is intensifying its offensive in its Kursk region – an area held by Ukraine since August – with around 68 combat clashes a day compared to around 40 at the end of last week. It is also intensifying action in the eastern Donetsk region. The Commander of the Ukrainian Ground Forces, Colonel General Oleksandr Syrskyi, added yesterday that Russia was using North Korean troops in the Kursk region.

 

Domestic politics: The UK Government has said that police forces in England and Wales will be given £1 billion more in funding next year. The total provisional police funding settlement will come to £19.5 billion. The majority will be given to Police and Crime Commissioners to use in their areas.

 

The Mighty Calendar

 

What’s happening today?

 

o   EU-Western Balkans summit, Brussels

o   Prime Minister’s Questions in UK Parliament

o   US Federal Reserve interest rate decision

o   Bank of Japan interest rate decision

o   US housing starts (November)

o   UK, Eurozone CPI inflation data (November)

o   New Zealand GDP data (Q3 2024)

 

Lookahead to tomorrow

 

o   European Council summit, Brussels (Ukraine’s President Zelensky to attend)

o   President Putin’s annual press conference

o   Sir Keir Starmer appears before the Liaison Committee in UK Parliament

o   Defra Questions in UK Parliament

o   Bank of England interest rate decision

o   UK, Italy, Germany, France car registrations data (November)

o   US GDP data (Q3 2024)

o   US unemployment data (weekly)

o   Japan CPI inflation data (November)

o   Korea PPI inflation data (November)

o   New Zealand trade data (November)

 

The Mighty Finale

 

🌤️Weather today

 

Rain in the northwest and northeast of England in the morning. Rain everywhere in England by the evening. High of 15oC and low of 7oC. Patchy rain in Belfast. Sunny spells in Edinburgh!

 

✏️Life coaching quote of the day

 

“Sometimes there is no next time, no second chance, or no time out. Stop waiting. It’s now or never. When you wait, you aren’t procrastinating. You are doing something more dangerous. You are deliberately convincing yourself “now is not the time.” You are actively working against your dreams.” Mel Robbins, motivational speaker

 

Mighty takeaway: Take the action now to start achieving your goals and dreams. Procrastinating will get you nowhere.

 

That’s it for this morning.

 

Bye!

 

The Mighty Memo team

Read More
Mighty Memo Mighty Memo

Tuesday, 17 December 2024

Industrial production rises in China but retail sales slow, Donald Trump warns Hamas, EU takes UK to court and more…

The Mighty Headlines

 

  • Economics: Industrial production rises in China but retail sales growth falls

  • Business: Private equity firm makes reported £1.5 billion investment in Grant Thornton

  • Markets: Broadcom shares rise by 10 per cent

  • Foreign Affairs: French lawmakers pass emergency budget

  • Security and intelligence: Donald Trump warns Hamas about hostages and a ceasefire

  • Domestic politics: UK taken to court by the EU over EU citizens’ Brexit rights

 

The Mighty Stats

 

  • FTSE = 8,262.05 (down 0.46 per cent at Monday close)

  • S&P500 = 6,074.08 (down 0.38 per cent at Monday close)

  • Nasdaq = 20,173.89 (up 1.24 per cent at Monday close)

  • CAC40 = 7,357.08 (down 0.71 per cent at Monday close)

 

  • £1 = $1.27 / €1.21

 

  • UK: Con / Lab / Reform = 25 / 27 / 22 per cent

 

*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: Industrial production in China rose in November by 5.4 per cent when compared to a year earlier. This compares with a 5.3 per cent rise in October. Growth in retail sales slowed, however, from 4.8 per cent in October to 3 per cent in November.

 

Business: The private equity firm Cinven is reported to be investing around £1.5 billion in Grant Thornton, the accountancy firm. Cinven is one of Europe’s largest private equity firms. Grant Thorton’s partners voted unanimously in favour of the deal. Grant Thornton made an operating profit of £146 million in 2023.

 

Markets: Shares in Broadcom, a US semiconductor manufacturer, increased by more than 10 per cent yesterday. This means that the company is worth over $1 trillion – its highest ever value. Shares in Apple, Google and Tesla also rose to all-time highs during trading yesterday.

 

Foreign Affairs: French lawmakers have unanimously passed an emergency budget following the collapse of the Barnier Government earlier this month. The budget rolls over the 2024 budget into 2025 and avoids a Government shutdown. The Banque de France has also reduced France’s growth forecast next year from 1.2 per cent to 0.9 per cent.

 

Security and intelligence: Donald Trump has warned Hamas about releasing Israeli hostages and added that if a cease-fire isn’t reached between Israel and Hamas by the time he takes office “it’s not going to be pleasant.” He said separately that Ukraine should be “prepared to make a deal” to end the war with Russia.

 

Domestic politics: The UK is being taken to court by the EU over the rights of EU citizens who who have lived in the UK since before Brexit. The EU is concerned about the “rights of workers” and “extended family members”. Under the Brexit deal, the EU has a four-year period to bring UK cases to the European Court of Justice. This period ends on the 31 December 2024.

 

The Mighty Calendar

 

What’s happening today?

 

o   BBC Sports Personality of the Year announced

o   Energy Questions in UK Parliament

o   UK average earnings data (October)

o   UK unemployment data (October)

o   Germany business expectations and economic sentiment data (December)

o   United States retail sales data (November)

o   United States manufacturing and industrial production data (November)

o   Canada CPI inflation data (November)

o   Japan trade data (November)

o   Company results from: Chemring Group

 

Lookahead to tomorrow

 

o   Prime Minister’s Questions in UK Parliament

o   US Federal Reserve interest rate decision

o   Bank of Japan interest rate decision

o   US housing starts (November)

o   UK, Eurozone CPI inflation data (November)

o   New Zealand GDP data (Q3 2024)

 

The Mighty Finale

 

🌤️Weather today

 

Light cloud and dry in most parts apart from the northwest of England, where there will be some rain. High of 11oC and low of 9oC. Light rain in Belfast and drizzle in Edinburgh.

 

✏️Life coaching quote of the day

 

“Focus on your likes, not your wants.

You may not want to exercise, but you like how it makes you feel.

You may not want to write, but you like the feeling of accomplishment.

You may not want to wake up early, but you like the calm beauty of morning.

Wanting is the desire you feel before doing something. Liking is the satisfaction you feel after doing something. Let your likes guide you.” – James Clear, writer and speaker

 

Mighty takeaway: Nothing to add!

 

That’s about it for today’s edition. Thank you for reading to the end! See you tomorrow.

 

Cheerio!

 

The Mighty Memo team

Read More
Mighty Memo Mighty Memo

Monday, 16 December 2024

France’s credit rating downgraded, new Georgian President, Syria’s al-Jowlani to reassess ties with Russia and Iran and more…

The Mighty Headlines

 

  • Economics: France’s credit rating downgraded because of political turmoil

  • Business: US lawmakers give orders to Apple and Google on TikTok ban

  • Markets: South Korea’s Finance Ministry ready to stabilise financial markets

  • Foreign Affairs: Georgia’s new anti-Western President elected

  • Security and intelligence: Syria’s al-Jowlani to reassess ties with Russia and Iran

  • Domestic politics: UK Government deports nearly 13,500 people

 

The Mighty Stats

 

  • FTSE = 8,300.33 (down 0.14 per cent at Friday close)

  • S&P500 = 6,051.09 (down 0.0026 per cent at Friday close)

  • Nasdaq = 19,926.73 (up 0.12 per cent at Friday close)

  • CAC40 = 7,409.57 (down 0.15 per cent at Friday close)

 

  • £1 = $1.26 / €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: Ratings agency Moody’s has downgraded France’s credit rating to Aa3 due to the country’s “political fragmentation”. The rating, which measures a country’s ability to repay its debts, is the fourth highest rating and the same rating as the UK. In the G7, Italy and Japan have a lower rating, while the US, Canada and Germany have the highest possible rating.

 

Business: Members of the US House Select Committee on the Chinese Communist Party have ordered the CEOs of Apple and Google to prepare to ban TikTok next month. The US Government passed a law banning TikTok in April on data security grounds – a decision upheld by the US Court of Appeals 10 days ago.

 

Markets: South Korea’s Finance Ministry has said that it will use all policy instruments and work with the Government to avoid any further volatility in the financial markets after the impeachment of President Yoon Suk Yeol on Saturday. Yoon was impeached after his declaration of martial law earlier this month.

 

Foreign Affairs: Mikheil Kavelashvili, has been appointed as Georgia’s new President. The former Manchester City footballer, 53, is known for his anti-Western views and was elected by 224 of 225 members of the electoral college. Georgia’s incumbent pro-Western president, Salome Zourabichvili, has previously vowed to stay in office after her term ends tomorrow. Along with opposition parties, she has stated that the October elections were rigged by Russia.  

 

Security and intelligence: Mohammed al-Jowlani, the leader of the HTS group now governing Syria and a former al-Qaeda fighter, has said that he will reassess relations with Russia and Iran, has no intention of fighting Israel and will build an inclusive society. Separately, Naim Qassem, the leader of Hezbollah, has said his terrorist group has lost a key Iranian military supply route. With the fall of the Assad regime, Hezbollah can no longer import Iranian weapons through Syria.

 

Domestic politics: The UK Government has said that it has deported nearly 13,500 people from the UK since entering office. Most of these were voluntary but enforced returns have increased by 25 per cent compared with a year ago.

 

The Mighty Calendar

 

What’s happening today?

 

o   Vote of confidence in German Chancellor’s Olaf Scholz’s government

o   EU Foreign Affairs Ministers meeting, Brussels

o   Cabinet Secretary, Simon Case, steps down from his role

o   Farmers’ protest in London

o   Work and Pensions Questions in UK Parliament

o   UK, US, France, Germany manufacturing data (December)

o   UK, US, France, Germany services data (December)

o   Italy CPI inflation data (November)

o   UK house price data (December)

 

Lookahead to tomorrow

 

o   BBC Sports Personality of the Year announced

o   Energy Questions in UK Parliament

o   UK average earnings data (October)

o   UK unemployment data (October)

o   Germany business expectations and economic sentiment data (December)

o   United States retail sales data (November)

o   United States manufacturing and industrial production data (November)

o   Canada CPI inflation data (November)

o   Japan trade data

o   Company results from: Chemring Group

 

The Mighty Finale

 

🌤️Weather today

 

Patchy cloud (again) but generally dry in England. High of 12oC and low of 6oC. Sunny spells in Belfast, again! Drizzle in Edinburgh.

 

✏️Life coaching quote of the day

 

“Every morning we are born again. What we do today is what matters most.” – Buddha

 

Mighty takeaway: Live and enjoy today. Do not re-live yesterday, which no longer exists, or wish for tomorrow, which also does not exist.

 

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

 

Bye!

 

The Mighty Memo team

Read More
Mighty Memo Mighty Memo

Friday, 13 December 2024

ECB cuts interest rates, Adobe shares fall, Russia close to agreeing deal on military bases in Syria and more…

The Mighty Headlines

 

  • Economics: ECB cuts interest rates to 3 per cent

  • Business: Currys said it faces £32 million higher tax bill

  • Markets: Adobe shares fall by more than 13 per cent

  • Foreign Affairs: Romania and Bulgaria become full members of EU passport-free zone

  • Security and intelligence: Russia close to agreement on keeping military bases in Syria

  • Domestic politics: UK and EU agree to strengthen relationship

 

The Mighty Stats

 

  • FTSE = 8,311.76 (up 0.12 per cent at Thursday close)

  • S&P500 = 6,051.25 (down 0.54 per cent at Thursday close)

  • Nasdaq = 19,902.84 (down 0.66 per cent at Thursday close)

  • CAC40 = 7,420.94 (down 0.033 per cent at Thursday close)

 

  • £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 European Central Bank (ECB) has cut interest rates to three per cent. This is the third successive cut this year and is designed to strengthen faltering economic growth in the Eurozone. The ECB’s forecast for growth in 2025 has been cut from 1.3 per cent to 1.1 per cent.

 

Business: Currys has said that it faces a £32 million tax increase due to changes announced at the Budget. This includes £9 million from increases to the National Living Wage, £12 million from National Insurance changes, £2 million from business rates and £9 million passed on as increased costs from suppliers.

 

Markets: Shares in Adobe fell by more than 13 per cent during trading yesterday. This came as the computer software company revised its expected revenue in the first fiscal quarter downwards to between $5.63 billion and $5.68 billion. Analysts had expected revenue of $5.73 billion. Revenue in the fourth quarter, however, increased by 11 per cent to $5.61 billion.

 

Foreign Affairs: The European Union has decided to allow Romania and Bulgaria to become full members of the border-free Schengen area. The two EU countries have been waiting to accede to the Schengen area – which waives passport controls – since 2011. They will join on the 1st January 2025 although some checks will remain for six months as a precautionary measure.

 

Security and intelligence: Russia is reported to be close to an agreement with the new authorities in Syria to keep its two military bases in the country. These include Russia’s naval port at Tartus – its only naval base on the Mediterranean – and its air base at Khmeimim.

 

Domestic politics: The UK Prime Minister, Sir Keir Starmer, met the European Council President, António Costa, on Thursday. The two men agreed to “strengthen the relationship” between the UK and EU. They added that an UK-EU summit in early 2025 would provide an opportunity to make further progress “on key areas to deliver tangible benefits” for UK and EU citizens.

 

The Mighty Calendar

 

What’s happening today?

 

  • Italian PM Giorgia Meloni hosts Palestinian Authority President Mahmoud Abbas, Rome

  • World Cup 2026 European qualifying draw

  • UK construction data (October)

  • UK, Eurozone industrial production data (October)

  • UK manufacturing data (October)

  • Germany trade data (October)

  • France, Spain CPI inflation data (November)

 

Lookahead to the weekend

 

Saturday

  • Italian PM Giorgia Meloni hosts Argentinian President Milei, Rome

  • Georgian lawmakers elect a new President (the incumbent, Salome Zourabichvili, has said she will not stand down citing illegitimate parliamentary elections in November)

  • Geminid meteor shower

  • Paul McCartney performs at Co-op Live, Manchester

 

Sunday

  • UK officially joins the Trans-Pacific Trade Partnership

  • World Darts Championship begins

 

The Mighty Finale

 

🌤️Weather today

 

Light cloud and dry in most of England. High of 7oC and low of 4oC. Sunny spells in Belfast. Light cloud in Edinburgh.

 

✏️Life coaching quote of the day

 

“Success is not the key to happiness. Happiness is the key to success. If you love what you are doing, you will be successful.” – Albert Schweitzer, philosopher

 

Mighty takeaway: Choose happiness every time. Life’s too short to do otherwise.

 

That’s it for today’s edition and for this week. We hope you have a good weekend and we’ll see you again on Monday.

 

Adios!

 

The Mighty Memo team

Read More
Mighty Memo Mighty Memo

Thursday, 12 December 2024

OPEC cuts oil demand estimates, SpaceX’s $350 million valuation, UK Conservatives and Reform’s potential electoral pact and more…

The Mighty Headlines

 

  • Economics: OPEC cuts estimate for 2025 oil demand

  • Business: SpaceX becomes world’s most valuable private start-up

  • Markets: S&P 500 rises on US inflation news

  • Foreign Affairs: Russia says it will develop alternative to American AI technology

  • Security and intelligence: China says it will not tolerate Taiwanese “separatists”

  • Domestic politics: Potential election pact between UK Conservatives and Reform Party

 

The Mighty Stats

 

  • FTSE = 8,301.62 (up 0.26 per cent at Wednesday close)

  • S&P500 =

  • Nasdaq =

  • CAC40 = 7,423.40 (up 0.39 per cent at Wednesday 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: OPEC has cut its 2025 estimate for global oil demand to 1.45 million barrels per day. This is down from its previous estimate of 1.54 million barrels per day. This could be indicative of a broader slowdown in the global economy, with the Chinese economy struggling in particular.

 

Business: SpaceX has become the most valuable private start-up company in the world following internal share trading. SpaceX is now worth around $350 billion. The rocket company and its investors bought up to $1.25 billion of the company’s shares from employees at a valuation of $185 a share. Elon Musk owns 42 per cent of the private company.

 

Markets: The S&P 500 has increased by nearly 1 per cent after the rate of US inflation yesterday came out in line with analysts’ expectations. US inflation in November rose by 0.3 per cent from October and by 2.7 per cent when compared with a year ago.

 

Foreign Affairs: Russian President, Vladimir Putin, has said that Russia will seek to develop artificial intelligence with other BRICS nations to challenge the superiority of the United States in the technology. The BRICS group was founded in 2009 by Brazil, Russia, India and China and today includes South Africa, Iran, the UAE, Saudia Arabia, Egypt and Ethiopia among others.

 

Security and intelligence: The Chinese Government has said that it will not tolerate “separatists” and that it was “highly vigilant to the trend of separatist Taiwan forces colluding with external forces”. Taiwan’s President visited Hawaii and Guam earlier this month and this week, Taiwan reported a large scale build-up of Chinese military craft around Taiwan.

 

Domestic politics: There are reports that some local branches of the UK Conservative Party and the Reform Party could make electoral pacts in the local elections next year. The pacts would see either a Conservative or Reform candidate standing down in a local election to avoid the right-wing vote being split. This would give one of the parties a better chance of defeating the Labour candidate. Neither party at national level has endorsed these proposals.

 

The Mighty Calendar

 

What’s happening today?

 

  • EU Interior Ministers meeting, Brussels

  • Time Magazine Person of the Year announced

  • European Central Bank interest rate decision

  • Business and Trade Questions in UK Parliament

  • China, UK, France, Germany, Italy, Spain consumer sentiment data (December)

  • United States jobless data (weekly)

  • United State PPI inflation data (November)

  • Canada building permits data (October)

  • Japan industrial production data (October)

  • Company results from: Currys, Costco

 

Lookahead to tomorrow

 

  • Italian PM Giorgia Meloni hosts Palestinian Authority President Mahmoud Abbas, Rome

  • World Cup 2026 European qualifying draw

  • UK construction data (October)

  • UK, Eurozone industrial production data (October)

  • UK manufacturing data (October)

  • Germany trade data (October)

  • France, Spain CPI inflation data (November)

 

The Mighty Finale

 

🌤️Weather today

 

Drizzle in southeast England. Drier elsewhere. High of 9oC and low of 6oC. Overcast in Belfast but sunny spells in Edinburgh. Lucky Edinburgh!

 

✏️Life coaching quote of the day

 

“Life is very interesting...in the end, some of your greatest pains, become your greatest strengths.” – Drew Barrymore, actress

 

Mighty takeaway: You learn the most from your failures. Failures will strengthen you, not weaken you.

 

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

 

Adios!

 

The Mighty Memo team

Read More
Mighty Memo Mighty Memo

Wednesday, 11 December 2024

President Xi warns against trade war with US, Ashtead leaves the London stock exchange, Taiwan warns of build-up of Chinese military craft and more…

The Mighty Headlines

 

·        Economics: President Xi warns against a trade war with the United States

·        Business: Value of companies leaving the London stock exchange reaches £107 billion

·        Markets: Shares in Google rise after new quantum computer chip unveiled

·        Foreign Affairs: Nobel Peace Prize awarded to atomic bomb survivors

·        Security and intelligence: Taiwan warns of build-up of Chinese military craft

·        Domestic politics: UK Government departments recommend 2.8 per cent rise

 

The Mighty Stats

 

·        FTSE = 8,280.36 (down 0.86 per cent at Tuesday close)

·        S&P500 = 6,034.91 (down 0.3 per cent at Tuesday close)

·        Nasdaq = 19,687.24 (down 0.25 per cent at Tuesday close)

·        CAC40 = 7,394.78 (down 1.14 per cent at Tuesday close)

 

·        £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: President Xi of China has said that there would be “no winners” in a trade war with the United States. Speaking at a meeting with the head of the World Bank and the IMF, among others, Xi added that “only when China is good can the world be good. Only when the world is good can China be better”.

 

Business: The value of companies leaving the London stock exchange has reached £107 billion this year. Yesterday, construction equipment firm Ashtead became the latest to announced that it was moving to the US. More attractive valuations in countries such as the US may be one factor behind the number of companies leaving the London stock exchange.

 

Markets: Shares in Alphabet – the parent company of Google – rose by nearly five per cent during trading yesterday. This comes after Google announced it had produced a new computer chip, “Willow”, that is seen as a breakthrough for the more advanced quantum computing.

 

Foreign Affairs: The Nobel Peace Prize has been awarded to a group of Japanese atomic bomb survivors. The group, known as Nihon Hidankyo, campaigns for a worldwide ban on nuclear weapons. One of the co-chairs of the group, 92 year old Terumi Tanaka, said the deaths he saw because of the atomic bomb “could hardly be described as human deaths.”

 

Security and intelligence: Taiwan’s defence ministry has said that China has sent the largest number of military craft in recent years to surround Taiwan. Taiwan has said it has detected around 47 military airplanes and 21 naval and patrol vessels. The manoeuvres may be a reaction to the Taiwanese President’s visit to Hawaii and Guam earlier this month.

 

Domestic politics: UK Government departments have recommended a 2.8 per cent pay rise for public sector workers next year. This includes teachers, NHS staff and senior civil servants. The recommendations will be considered as part of the pay review process by the independent pay review bodies.

 

The Mighty Calendar

 

What’s happening today?

 

o   Prime Minister’s Questions in UK Parliament

o   Swiss elections for President and Vice President

o   US Secretary of State Blinken before House Committee on US’s exit from Afghanistan

o   US CPI inflation data (November)

o   Australia employment data (November)

o   Bank of Canada interest rate decision

o   Company results from: TUI Group, Macy’s, Inditex 

 

Lookahead to tomorrow

 

o   EU Interior Ministers meeting, Brussels

o   Time Magazine Person of the Year announced

o   European Central Bank interest rate decision

o   Business and Trade Questions in UK Parliament

o   China, UK, France, Germany, Italy, Spain consumer sentiment data (December)

o   United States jobless data (weekly)

o   United State PPI inflation data (November)

o   Canada building permits data (October)

o   Japan industrial production data (October)

o   Company results from: Currys, Costco

 

The Mighty Finale

 

🌤️Weather today

 

A dry but cloudy day for most of England. High of 8oC and low of 5oC. Sunny intervals in Belfast and Edinburgh.

 

✏️Life coaching quote of the day

 

“If you do not think that you deserve success…then you will do things that will keep you from getting success.” – Zig Ziglar, motivational speaker

 

Mighty takeaway: You will only achieve what you think you deserve and what you think you are capable of achieving. It starts and ends with you.

 

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

 

Bye for now!

 

The Mighty Memo team

Read More
Mighty Memo Mighty Memo

Tuesday, 10 December 2024

Chinese inflation stays low, mining stocks on the rise, Ukraine suggests diplomatic end to the war and more…

The Mighty Headlines

 

  • Economics: Chinese inflation stays low at 0.2 per cent

  • Business: Domino’s Pizza’s £3 million tax bill and UK Chancellor’s visit to Brussels

  • Markets: Mining stocks rise after China suggests new stimulus measures

  • Foreign Affairs: South Korean President banned from leaving the country

  • Security and intelligence: Ukraine suggests a diplomatic solution to war

  • Domestic politics: UK Government announces new measures for Middle East

 

The Mighty Stats

 

  • FTSE = 8,352.08 (up 0.52 per cent at Monday close)

  • S&P500 = 6,052.85 (down 0.61 per cent at Monday close)

  • Nasdaq = 19,736.69 (down 0.62 per cent at Monday close)

  • CAC40 = 7,480.14 (up 0.72 per cent at Monday close)

 

  • £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!*

 

Syria update: Mohammed al-Bashir, a high-ranking official from HTS, is reported to have been nominated as Syria’s interim Prime Minister. We include a profile of al-Bashir below:

  • Name: Mohammed al-Bashir

  • Age: 41 years old

  • Role: Currently Prime Minister of the Salvation Government, an administrative area run by HTS in northwest Syria

  • Past: Understood to have an engineering background

  • Future: News of his appointment was announced on Al Jazeera yesterday but has not been officially confirmed.

Reminder: Hayat Tahrir al-Sham (HTS) is an Islamist militant group that was founded as an affiliate of al-Qaeda before breaking ties. HTS translates as “Organization for Liberating Syria” and is designated as a terrorist group by the US.

 

The Mighty Detail

 

Economics: Consumer prices in China rose less than expected last month. CPI inflation was 0.2 per cent in November when compared to a year ago. Consistently low inflation suggests that China is still struggling with low domestic demand.

 

Business: Domino’s Pizza has said that it faces £3 million in additional tax because of the UK Government’s Budget. Domino’s has 38,000 employees through its franchises. Separately, the UK Chancellor said yesterday that negotiations on a new trading relationship between the UK and EU would begin in the new year “in the best interest of our shared economies”.

 

Markets: The value of mining and other Chinese-focused stocks, such as Burberry and Standard Chartered, rose yesterday. It came after China’s Politburo suggested that further economic stimulus measures could be announced as it seeks to stimulate economic growth.

 

Foreign Affairs: South Korea’s president has been banned by the country’s Justice Ministry from leaving the country. President Yoon Suk-yeol is being investigated on allegations of treason and abuse of power after he declared martial law last week. The opposition Democratic Party will also submit another impeachment motion on Saturday after last week’s motion failed.

 

Security and intelligence: President Zelensky raised the possibility yesterday of a diplomatic solution to end the war in Ukraine, saying that it would “save more lives.” He also suggested having the troops of allied nations in Ukraine to guarantee Ukraine’s security if NATO membership were not forthcoming.

 

Domestic politics: In a visit to the Gulf yesterday, UK Prime Minister Starmer announced measures to strengthen UK influence in the region and stabilise the political situation. This includes £11 million of aid to Syria, “greater defence industrial cooperation” with Saudia Arabia, providing training and equipment to the Lebanese armed forces and re-appointing Sir Michael Barber to the Palestine Authority to support its “vital reform agenda”.

 

The Mighty Calendar

 

What’s happening today?

 

o   Chancellor Rachel Reeves attends EU Finance Ministers meeting, Brussels

o   Northern Ireland Assembly holds vote on the Northern Ireland Protocol

o   US Treasury Secretary Yellen speaks at WSJ CEO Council on US’s economic outlook

o   Vivek Ramaswamy and Elon Musk speak at WSJ CEO Council on their future Government roles

o   Justice Questions in UK Parliament

o   Germany CPI inflation data (October)

o   Japan PPI inflation data (October)

o   Italy industrial production data (October)

o   Company results from: Ashtead Group 

 

Lookahead to tomorrow

 

o   Prime Minister’s Questions in UK Parliament

o   Swiss elections for President and Vice President

o   US Secretary of State Blinken before House Committee on US’s exit from Afghanistan

o   US CPI inflation data (November)

o   Australia employment data (November)

o   Bank of Canada interest rate decision

o   Company results from: TUI Group, Macy’s, Inditex 

 

The Mighty Finale

 

🌤️Weather today

 

Patchy rain in the southeast of England until lunchtime. Dry elsewhere. High of 8oC and low of 6oC. Sunny in Belfast and Edinburgh.

 

✏️Life coaching quote of the day

 

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

 

Mighty takeaway: We included this quote in a Mighty Memo recently but it’s so good and pertinent to us all, we’ve decided to include it again. Go and live the life you want.

 

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

 

Cheerio!

 

The Mighty Memo team

Read More
Mighty Memo Mighty Memo

Monday, 9 December 2024

Eurozone GDP growth, US court upholds ban on TikTok, EU-Mercosur deal, profile of Syria insurgent leader and more…

The Mighty Headlines

 

  • Economics: Eurozone GDP grows at fastest rate in two years

  • Business: US court upholds ban on TikTok in the US

  • Markets: S&P 500 and Nasdaq close on high following US jobs data

  • Foreign Affairs: EU and South America agree trade deal in principle

  • Security and intelligence: Profile of al-Jowlani, Syria’s insurgent leader

  • Domestic politics: UK Government to publish updated NHS workforce plan

 

The Mighty Stats

 

  • FTSE = 8,308.61 (down 0.49 per cent at Friday close)

  • S&P500 = 6,090.27 (up 0.25 per cent at Friday close)

  • Nasdaq = 19,859.77 (up 0.81 per cent at Friday close)

  • CAC40 = 7,426.88 (up 1.31 per cent at Friday close)

  • £1 = $1.27 / €1.21

  • UK: Con / Lab / Reform = 25 / 27 / 21 per cent

 

*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: Eurozone GDP increased by 0.4 per cent in Q3 2024. The Eurozone’s economy last grew this quickly two years ago. Ireland recorded the highest growth at 3.5 per cent. Hungary’s economy shrunk the most at 0.7 per cent.   

 

Business: A US federal appeals court has upheld a proposed ban on TikTok in the US. This comes after President Biden signed a law in April that would ban TikTok unless its Chinese owner sells it by 19 January 2025. There are concerns that TikTok could share users’ data with the Chinese Government. TikTok has said it will appeal the decision to the Supreme Court.

 

Markets: The S&P 500 and the Nasdaq finished on a high on Friday following positive US jobs data. US jobs data showed an increase of 227,000 more jobs in November, a significant increase from October’s increase of 36,000. The S&P 500 rose by 0.96 per cent over the week and the Nasdaq by 3.34 per cent.

 

Foreign Affairs: The European Union agreed a trade agreement in principle with South America’s Mercosur trading bloc on Friday. The deal would lift tariffs and ease trade between the EU, Argentina, Brazil, Paraguay, Uruguay and Bolivia. France strongly opposes the deal while Germany strongly supports it. A previous EU-Mercosur deal agreed in 2019 was blocked because it was not supported by all EU member states.

 

Security and intelligence: Abu Mohammad al-Jowlani, is emerging as a new potential leader in Syria. An Islamist militant, he has recently tried to re-make his image. In an interview last week, he said, “Syria deserves a governing system that is institutional, not one where a single ruler makes arbitrary decisions”. We include a short profile of him below.

  • Name: Ahmad al-Sharaa. Goes by the name of Abu Mohammad al-Jowlani.

  • Age: 42 years old

  • Role: Leader of Hayat Tahrir al-Sham (HTS), an Islamist militant group that was founded as an affiliate of al-Qaeda. HTS translates as “Organization for Liberating Syria” and is designated as a terrorist group by the US.

  • Past: Fought against the US in Iraq from 2003. Later broke ties with al-Qaeda.

  • Future: Last week said that Syria needs to be rebuilt and that HTS is just one part of the dialogue and HTS could “dissolve at any time”.

 

Domestic politics: The UK Government has said that it is to publish an updated NHS workforce plan in the summer. It said that the plan will include a “laser focus on shifting care from hospitals and into the community”.

 

The Mighty Calendar

 

What’s happening today?

 

o   Rachel Reeves attending Eurogroup meeting of Eurozone Finance Ministers

o   Education Questions in UK Parliament

o   French Government Budget balance data (October)

o   China trade data (November)

 

Lookahead to tomorrow

 

o   Northern Ireland Assembly holds vote on the Northern Ireland Protocol

o   Justice Questions in UK Parliament

o   Germany CPI inflation data (October)

o   Japan PPI inflation data (October)

o   Italy industrial production data (October)

o   Company results from: Ashtead Group 

 

The Mighty Finale

 

🌤️Weather today

 

Overcast but largely dry in England. High of 8oC and low of 7oC. Bright sunshine in Belfast. Light cloud in Edinburgh.

 

✏️Life coaching quote of the day

 

“Why is it amazing that I don’t act my age? Why should I act my age? Or more to the point, how is someone my age supposed to act? Old age is part fact, part state of mind, part luck, and wholly something best left for other people to ponder, not you or me. Why waste your time? I don’t.” – Dick Van Dyke, actor

 

Mighty takeaway: Your life is what you make it. Age is no barrier. The only barrier is your attitude.   

 

That’s it for this Monday morning. Make the most of your day! We hope you have a good start to the week.

 

Bye!

 

The Mighty Memo team

Read More
Mighty Memo Mighty Memo

Friday, 6 December 2024

French bonds now less risky, Mexico cracks down on drugs and migrants following Trump’s threat, US concerns about Romania and more…

The Mighty Headlines

 

  • Economics: Half of UK companies to raise prices because of NI rise

  • Business: Use of cash in UK shops increases

  • Markets: French bonds less risky after Government collapse

  • Foreign Affairs: Mexico seizes drugs and detains migrants after Trump threats

  • Security and intelligence: US concern over Russian interference in Romania’s election

  • Domestic politics: UK Prime Minister sets out six new targets

 

The Mighty Stats

 

  • FTSE = 8,349.38 (up by 0.16 per cent at Thursday close)

  • S&P500 = 6,075.11 (down 0.19 per cent at Thursday close)

  • Nasdaq = 19,700.26 (down 0.18 per cent at Thursday close)

  • CAC40 = 7,330.54 (up 0.37 per cent at Thursday 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: A survey conducted by the Bank of England shows that 54 per cent of firms expect to raise prices in response to the increase in National Insurance announced at the Budget. A total of 54 per cent also said they expect to lower employment, 38 per cent said they expected to give lower wages and 59 per cent said they would absorb the cost in wages and reduce profits.

 

Business: The use of cash in shops has risen for a second year in a row, according to data from the British Retail Consortium. Cash accounted for a fifth of transactions, with £22.03 the average amount per purchase. Help with budgeting is cited as a major factor behind the increase.

 

Markets: The risk associated with French government debt relative to German debt fell to its lowest level in two weeks yesterday. Following the collapse of the French Government on Wednesday and after weeks of uncertainty, investors hope a new budget will be passed quickly.

 

Foreign Affairs: The Mexican army has seized a record amount of fentanyl, valued at nearly $400 million. Mexico also detained 5,200 migrants across the country earlier this week. This comes after Donald Trump said he would impose 25 per cent tariffs on Mexico unless it reduced the flow of drugs and migrants to the US.

 

Security and intelligence: The US has expressed concern about Russian interference in the Romanian Presidential election. This comes after Romania’s security council said that the pro-Russia presidential candidate, Calin Georgescu, was heavily promoted on TikTok through paid promotion and coordinated accounts. Georgescu won the first round of voting last month, despite being little known and having declared no spending on his campaign.

 

Domestic politics: UK Prime Minister, Sir Keir Starmer, outlined six new targets on which to judge his Government yesterday. They included raising living standards, building 1.5 million homes in England, ending hospital backlogs, having a named police officer in every neighbourhood, having more children “ready to learn” at the age of 5 and having at least 95 per cent clean power by 2030. A poll published yesterday also put Reform ahead of Labour for the first time on 24 per cent, Labour on 23 per cent and the Conservatives on 26 per cent.

 

The Mighty Calendar

 

What’s happening today?

 

  • UK house price data (November)

  • Germany, France trade data (October)

  • Germany industrial production data (October)

  • Italy retail sales data (October)

  • Eurozone employment data (Q3 2024)

  • Eurozone GDP data (Q3 2024)

  • United States, Canada average earnings data (November)

 

Lookahead to the weekend

 

Saturday

  • President Macron hosts inauguration ceremony of Notre Dame Cathedral, Paris

  • Ghana Presidential and Parliamentary elections

  • Illustrators’ Festive Fair, King’s Cross, London

  • Home Alone with Royal Philharmonic Orchestra, Royal Albert Hall, London

 

Sunday

  • Notre Dame Cathedral, Paris re-opens to the public

  • Second Round of Romania Presidential election

  • Barbados Marathon

  • Honolulu, Hawaii Marathon

 

The Mighty Finale

 

🌤️Weather today

 

Sunny and dry for most of England until mid-afternoon. High of 9oC and low of 8oC. Heavy rain in Belfast from midday. Light rain in Edinburgh from late afternoon.

 

✏️Life coaching quote of the day

 

“The worst thing one can do is not to try, to be aware of what one wants and not give in to it, to spend years in silent hurt wondering if something could have materialized - never knowing.” – Jim Rohn, motivational speaker

 

Mighty takeaway: Take action on your dreams!

 

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

 

Adios!

 

The Mighty Memo team

Read More
Mighty Memo Mighty Memo

Thursday, 5 December 2024

London stock market shrinks, Russian ship fires at German helicopter, Scottish Government ends two-child benefit cap and more…

The Mighty Headlines

 

  • Economics: OECD says UK growth will improve but pessimistic on inflation

  • Business: Debenhams returns to profit

  • Markets: London stock market shrinks at fastest rate in over 10 years

  • Foreign Affairs: Russian ship fires at German military helicopter

  • Security and intelligence: US and Russia clash over Syria at UN Security Council

  • Domestic politics: Scottish Government ends two-child benefit cap

 

The Mighty Stats

 

  • FTSE = 8,335.81 (down 0.28 per cent at Wednesday close)

  • S&P500 = 6,086.49 (up 0.61 per cent at Wednesday close)

  • Nasdaq = 19,735.12 (up 1.3 per cent at Wednesday close)

  • CAC40 = 7,303.28 (up 0.66 per cent at Wednesday close)

 

  • £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!*

 

*France update: French MPs voted to topple the French Government by 331 votes yesterday evening. The French PM will present the resignation of his Government at 10.00am CET. President Macron is due to address the nation at 8.00pm CET. No party in the French Parliament has a majority and fresh elections cannot be held until July 2025.

 

The Mighty Detail

 

Economics: The OECD has said that the rate of growth in the UK economy would increase to 1.7 per cent next year. This is up from the 1.1 per cent it projected in September. The economy would then slow again to 1.3 per cent in 2026 and inflation would remain above the 2 per cent target for two years.

 

Business: Debenhams has returned to profit after it was brought out of administration by Boohoo in 2021. In the year to 29 February 2024, it announced pre-tax profits of £4.5 million compared to a loss of £732,000 the year before. Revenue has also fallen, however, from £87.1 million to £39.7 million. The store now trades online only.

 

Markets: The London stock market is shrinking at its fastest rate in over a decade. Around 45 companies have come off the London market this year because of mergers and acquisitions as private equity firms in particular look for bargain deals. The number of companies delisted from the market is up 10 per cent compared to 2023.

 

Foreign Affairs: A Russian ship in the Baltic Sea fired signalling ammunition at a German military helicopter yesterday. The news was announced by Germany’s Foreign Minister, Annalena Baerbock, but she did not provide further details. Signalling ammunition is usually only used in emergencies. Baerbock separately announced that the surveillance of pipelines and data cables in the Baltic Sea would increase following threats from Russia.

 

Security and intelligence: At a meeting of the UN Security Council in New York, the United States and Russia clashed on whether fighting should continue in Syria. Anti-government forces took hold of the important north Syrian city of Aleppo last Wednesday. Russia said the fighting should continue while the US said the airstrikes, some conducted by Russia, should end.

 

Domestic politics: The Scottish Government published its Budget yesterday and said that it would abolish the two-child benefit cap in Scotland. The cap currently means that parents cannot claim benefits for a third child. It also announced that it would end the freeze on council tax rates but warned councils against large increases in rates.

 

The Mighty Calendar

 

What’s happening today?

 

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

  • Sir Keir Starmer gives speech on new government targets

  • Cabinet Office Questions in UK Parliament

  • 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

 

Lookahead to tomorrow

 

  • UK house price data (November)

  • Germany, France trade data (October)

  • Germany industrial production data (October)

  • Italy retail sales data (October)

  • Eurozone employment data (Q3 2024)

  • Eurozone GDP data (Q3 2024)

  • United States, Canada average earnings data (November)

 

The Mighty Finale

 

🌤️Weather today

 

Patchy rain across much of England. High of 14oC and low of 7oC. Drizzle in Belfast and light rain in Edinburgh from mid-afternoon.

 

✏️Life coaching quote of the day

 

“No matter how far away from yourself you may have strayed, there is always a path back. You already know who you are and how to fulfil your destiny.” – Oprah Winfrey

 

Mighty takeaway: Everyone has the opportunity to make changes at any stage of their life.

 

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

 

Adios!

 

The Mighty Memo team

Read More
Mighty Memo Mighty Memo

Wednesday, 4 December 2024

China bans export of critical minerals to US, French pharma firm Sanofi makes record investment in China, possible return of Parthenon sculptures to Greece and more…

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

Read More
Mighty Memo Mighty Memo

Tuesday, 3 December 2024

UK and Eurozone manufacturing falls again, French Government faces confidence motion, Russian military submarine in Philippine waters and more…

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

 

RomaniaThe 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

Read More
Mighty Memo Mighty Memo

Monday, 2 December 2024

Business leaders’ confidence in the UK falls, Georgia protests, Romanian elections, Taiwan’s President visits Hawaii and more…

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

Read More
Mighty Memo Mighty Memo

Friday, 29 November 2024

Microsoft under investigation, French stock market lows, Georgia’s EU membership talks suspended and more…

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

Read More
Mighty Memo Mighty Memo

Thursday, 28 November 2024

German consumer confidence falls, Nordic and Baltic countries increase support for Ukraine, UK Government gambling levy and more…

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

Read More
Mighty Memo Mighty Memo

Wednesday, 27 November 2024

Donald Trump tariffs, Germany planning for bunkers, Pakistan protests and more…

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

Read More
Mighty Memo Mighty Memo

Tuesday, 26 November 2024

UK business group says job cuts are coming, G7 puts pressure on China over support for Russia, UK Parliament debates gradual smoking ban and more…

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

Read More
Mighty Memo Mighty Memo

Monday, 25 November 2024

EasyJet profits of nearly £600 million, COP29 summit deal, Hezbollah rocket fire and more…

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

Read More