Friday, 17 January 2025
The Mighty Headlines
Economics: UK Chancellor tells regulators to cut red tape
Business: Donald Trump may delay US TikTok ban
Markets: Morgan Stanley shares rise after beating earnings expectations
Foreign Affairs: French PM survives vote of no confidence
Security and intelligence: Japan establishes NATO mission
Domestic politics: Russian diplomats breach security at UK Parliament
The Mighty Stats
FTSE = 8,391.90 (up 1.09 per cent)
S&P500 = 5,937.34 (down 0.21 per cent)
Nasdaq = 19,338.29 (down 0.89 per cent)
CAC40 = 7,634.74 (up 2.14 per cent)
£1 = $1.22 / €1.19
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The Mighty Detail
Economics: The UK Chancellor, Rachel Reeves, met UK regulators today in a bid to cut regulation and increase growth. The leaders of the Competition and Markets Authority, the Environment Agency, Ofcom, Ofgem, Ofwat and others attended the meeting where Reeves said they had to “tear down regulatory barriers”.
Business: There are reports that Donald Trump is to suspend the upcoming US ban on TikTok. The ban, which the Supreme Court has upheld and which has received bipartisan support, comes into effect on Sunday.
Markets: Shares in Morgan Stanley rose by more than two per cent yesterday after it beat earnings expectations. Other banks, including JP Morgan and Goldman Sachs, also saw their shares increase after they beat earnings expectations this week.
Foreign Affairs: The French Prime Minister, François Bayrou, has survived a vote of no confidence in the French Assembly. Left-wing parties called for the vote after Bayrou outlined his government’s programme on Tuesday. His predecessor, Michel Barnier, was voted out after presenting a budget, which Bayrou has yet to do.
Security and intelligence: Japan has formally inaugurated a diplomatic representation to NATO. Following Russia’s invasion of Ukraine and the stronger ties between Moscow and Beijing, NATO has sought to increase ties with Japan and other countries in the Indo-Pacific region including Australia, New Zealand and South Korea.
Domestic politics: Russian diplomats breached security to access a private area of the UK Parliament late last year. The news was revealed yesterday. Although Russian diplomats have been banned from entering Parliament since 2022, these diplomats are believed to have joined a tour in December and broken away from the group.
The Mighty Calendar
What’s happening today?
German Chancellor Scholz receives Swedish Prime Minister Kristersson
Russian President Putin meets Iranian President Pezeshkian in Moscow
UK retail sales data (December)
Eurozone CPI inflation data (December)
US industrial and manufacturing production data (December)
US housing construction data (December)
Lookahead to the weekend
Saturday
Protest rally in Washington DC ahead of inauguration
Free entry to Hampton Court Palace gardens (ends Sunday)
Sunday
Donald Trump attends pre-inauguration rally, Washington DC
Deadline for ByteDance to sell TikTok
Masters final (snooker), Alexandra Palace, London
The Mighty Finale
🌤️Weather today
Sunny intervals. High of 7C and low of 1C in London. Same weather in Belfast and Edinburgh.
✏️Life coaching quote of the day
“Too many of us are not living our dreams because we are living our fears.” – Les Brown, motivational speaker
Mighty takeaway: Don’t let your fears hold you back!
That’s it for this week. We hope you enjoy the weekend and we’ll see you next week.
Adios!
The Mighty Memo team