Tuesday, 13 August 2024
Tuesday, 13th August - www.mightymemo.co.uk
The Mighty Headlines
Economics: Disposable income increases in Europe
Business: India’s Bharti to buy 24.5 per cent of British Telecom
Markets: Foreign investors take money out of China
Foreign Affairs: US in secret talks for Venezuela’s Maduro to leave
Security and intelligence: UK, France and Germany issue joint statement on Iran
Domestic politics: Starmer cancels holiday plans
The Mighty Stats
FTSE = 8,238.22 (currently up 0.34 per cent)
S&P500 = 5,344.39 (up 0.23 per cent at Monday close)
Nasdaq = 16,780.61 (up 0.21 per cent at Monday close)
Nikkei = 36,232.51 (up 3.45 per cent at Tuesday close)
CAC40 = 7,250.67 (down 0.26 per cent at Monday close)
£1 = $1.28 / €1.17/ ¥189.38
The Mighty Detail
Economics: Disposable income in most European countries increases in the three months of 2024. According to the OECD, Poland saw the largest increase at 10.2 per cent, followed by Portugal at 6.7 per cent and Italy at 3.4 per cent. Greece saw the largest decline in disposable income with a 1.9 per cent reduction.
Business: The Indian conglomerate, Bharti Enterprises, has bought a 24.5 per cent in British Telecom from France’s Altice. The deal is valued at around £4 billion and comes after Altice struggles with £60 billion of debt.
Markets: Investors took $15 billion of capital out of China in the three months to June. This represents only the second time on record that China’s direct investment liabilities – in effect the capital traders have invested in China – has turned negative.
Foreign Affairs: The Wall Street Journal is reporting that the US is in secret talks to persuade the President of Venezuela, Nicolas Maduro, to leave power. Maduro is reportedly being offered amnesty from US prosecution in exchange for leaving office. In 2020, the US offered a bounty of $15 million for information that could lead to Maduro’s arrest on charges of drug trafficking.
Security and Intelligence: The UK, France and Germany issued a joint statement yesterday calling on Iran not to escalate tensions in the Middle East. This comes after Iran vowed retaliation for the assassination of Hamas’s top political leader, Ismail Haniyeh, on 31st July. The US has ordered the USS Abraham Lincoln aircraft carrier to quicken its arrival in the region.
Domestic political: The Prime Minister has cancelled his holiday plans. This comes as the government continues to deal with the risk of riots in England and Northern Ireland. There have been 975 arrests and 546 charges so far in relation to the riots.
What’s happening today?
UK average earnings data (June)
UK unemployment rate (June)
Spain CPI inflation data (July)
US PPI inflation data (July)
New Zealand interest rate decision
Lookahead to tomorrow
UK CPI inflation data (July)
France CPI inflation data (July)
US CPI inflation data (July)
Eurozone employment data (Q2 2024)
Eurozone industrial production data (Q2 2024)
China unemployment rate (July)
Weather today
Slightly cooler than yesterday in London. High of 27°C and low of 16°C. Dry all day. Slightly cooler and light rain in Belfast and Edinburgh.
Life coaching quote of the day
“You are what you think about.” – Earl Nightingale, speaker and writer
Mighty takeaway: Everyone has a story that they tell to themselves about themselves. You have the power to change that story and change the way you lead your life at any point you decide.
That’s all for today. If you like what you read or don’t like it at all, let us know. And don’t forget to pass this newsletter on to someone who might find it useful.
Adios!
The Mighty Memo team
hello@mightymemo.co.uk