Friday, 24 January 2025
The Mighty Headlines
Economics: US urges OPEC to increase oil production
Business: Stellantis to invest $5 billion in the US
Markets: FTSE 100 closes at near record high
Foreign Affairs: ICC issues arrest warrants for Taliban leaders
Security and intelligence: John Ratcliffe confirmed as CIA Director
Domestic politics: UK Government changes policy on non-doms
The Mighty Stats
FTSE = 8,565.20 (up 0.23 per cent)
S&P500 = 6,118.71 (up 0.53 per cent)
Nasdaq = 20,053.68 (up 0.22 per cent)
CAC40 = 7,892.61 (up 0.7 per cent)
£1 = $1.24 / €1.19
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The Mighty Detail
Economics: In a wide-ranging speech on the economy, Donald Trump urged OPEC to increase oil production in a bid to lower oil prices and precipitate an end to the war in Ukraine. President Trump also said that interest rates should "drop immediately" and that companies which don't wish to pay US tariffs should manufacture their goods in the US instead.
Business: European car maker Stellantis has said that it is set to invest more than $5 billion in the US. Stellantis owns brands such as Chrysler, Jeep and Fiat and will seek to increase sales numbers and market share in America.
Markets: The FTSE 100 closed at a near record high yesterday. It follows a week where President Trump stopped short of imposing tariffs and announced a $500 billion investment in Artificial Intelligence, which caused technology shares to increase in value.
Foreign Affairs: The International Criminal Court is seeking arrest warrants for two senior Taliban leaders. The ICC states that Taliban's Supreme Leader, Haibatullah Akhundzada, and Afghanistan's Chief Justice, Abdul Hakim Haqqani, are complicit in the persecution of women and girls. Women are barred from secondary education, public spaces and most work in the country.
Security and intelligence: John Ratcliffe has been confirmed as the Director of the CIA. Ratcliffe, 59 years old, was Director of National Intelligence in President Trump’s first administration. He previously worked as federal prosecutor in Texas before being elected to Congress in 2014.
Domestic politics: The UK Chancellor Rachel Reeves has said she will soften the Government's policy on non-doms. The Labour Party had previously promised to abolish the regime, which allows wealthy foreigners in the UK not to pay tax on assets and income earned overseas. It has been suggested the change may be due to the fact that 10,800 millionaires left the UK in 2024.
The Mighty Calendar
What’s happening today?
o UK, US, Eurozone manufacturing growth data (January)
o US services growth data (January)
o Company results from: American Express, Burberry
Lookahead to the weekend
Saturday
o Burn’s night
o Pegasus World Cup (horse racing), Florida, USA
o Australian Open Women’s Final (tennis)
Sunday
o Australian Open Men’s Final (tennis)
o Snow Polo World Cup Final, St Moritz, Switzerland
o Annual march commemorating Charles I, The Mall, London
The Mighty Finale
🌤️Weather today
Red alert for wind in Northern Ireland and central Scotland. Rain in the morning in much of England but sunny later. High of 11C and low of 4C.
✏️Life coaching quote of the day
“Working hard for something we don't care about is called stress. Working hard for something we love is called passion.” – Simon Sinek, writer
Mighty takeaway: Spend more time on activities that inspire you and less time on activities that drain you.
That’s about it for this Friday and for this week. We’ll see you next week.
Adios!
The Mighty Memo team