Monday, 2 September 2024
The Mighty Headlines
Economics: Chinese manufacturing slows for fourth month
Business: Business confidence in UK fell in August
Markets: European stocks end August at record high
Foreign Affairs: Brazil supreme court blocks X (Twitter)
Security and intelligence: Chinese and Philippine coastguards clash again
Domestic politics: New workplace health checks begin in England
The Mighty Stats
FTSE = 8,376.63 (down 0.036 per cent at Friday close)
S&P500 = 5,648.40 (up 1.01 per cent at Friday close)
Nasdaq = 17,713.63 (up 1.13 per cent at Friday close)
Nikkei = 38,700.87 (up 0.14 per cent at Monday close)
CAC40 = 7,630.95 (down 0.13 per cent at Friday close)
£1 = $1.31 / €1.19 / ¥192.07
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The Mighty Detail
Economics: Manufacturing in China has slowed for a fourth consecutive month. The Purchasing Managers’ Index stood at 49.1 in August. Any number below 50 indicates a decline in activity. Reduced domestic demand may be a factor behind the slowdown.
Business: According to the Institute of Directors, business confidence in the UK fell 19 points between July and August. The Institute of Directors says that the Government’s announcements on new employment rights and tax rises have “dented confidence” in the UK economy.
Markets: European stocks broadly ended August at a record high on Friday. The cross-European Stoxx 600 stock index closed at 525.05 for the first time. The index stands around 1.3 per cent higher than at the start of the month.
Foreign Affairs: The Brazilian supreme court has blocked access to X, formerly known as Twitter, in Brazil. It claims that X failed to name a legal representative in Brazil. X had already closed its offices in Brazil last month accusing the supreme court of wanting to censor it.
Security and intelligence: Chinese and Philippine ships have again collided in the South China Sea. The Philippine Coast Guard accused the Chinese Coast Guard of ramming one of its patrol vessels on Saturday. The Chinese Coast Guard accused the Philippines Coast Guard of deliberately colliding with its ship.
Domestic politics: The NHS Health Check programme is being extended to workplaces for the first time. The programme will record information from patients at their place of work to assess their risk of cardiovascular disease. Over 16 million people are eligible for an NHS Health Check but only around 40 per cent of people currently complete one.
The Mighty Calendar
What’s happening today?
United States and Canada Labor Day holiday
UK Parliament returns from summer recess
James Cleverly Conservative Party leadership launch event
Kemi Badenoch Conservative Party leadership launch event
Germany retail sales data (May)
Italy, France, Spain, Germany, UK manufacturing data (August)
South Korea CPI inflation data (August)
Lookahead to tomorrow
Switzerland CPI inflation data (August)
Switzerland GDP data (Q2 2024)
Brazil GDP data (Q2 2024)
Mexico unemployment data (July)
United States and Canada manufacturing data (August)
The Mighty Finale
🌤️Weather today
Light rain possible throughout the day in London. High of 23oC and low of 16oC. Light rain as well in Belfast and Edinburgh.
✏️Life coaching quote of the day
“Between now and the end of the day, you’ve got an opportunity to do certain things, and doing them will actually change what’s possible for tomorrow.” – Dan Sullivan, business coach
Mighty takeaway: What you do with your day is up to you. Why not take a step in the direction you want your life to go in?
That’s about it for today’s edition. Thank you so much for reading to the end! If you like what you read or don’t like it at all, let us know. And do pass this newsletter on to someone who might find it useful.
Adios!
The Mighty Memo team