Friday 28 March 2025
The Mighty Headlines
Economics: US seeks full control of future Ukraine investments
Business: Next reaches £1 billion profit milestone
Markets: European markets fall after US car tariffs announcement
Foreign Affairs: Burma’s military announces elections by the end of 2025
Security and intelligence: Europe rejects Russia’s demand to lift sanctions
Domestic politics: UK Government gives £740 million for SEND places
The Mighty Stats
FTSE = 8,666.12 (down 0.27%)
S&P 500 = 5,693.31 (down 0.33%)
Nasdaq = 17,804.03 (down 0.53%)
CAC40 = 7,990.11 (down 0.51%)
£1 = $1.29 / €1.20
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The Mighty Detail
Economics: The US Government is seeking to have a right of first refusal on investments in all future infrastructure and critical mineral projects in Ukraine. Under the new deal, Ukraine would also put 50 per cent of all income from new projects into an investment fund, which the US would control and have the right to all profits as well as a four per cent annual return.
Business: Next’s pre-tax profits increased by over 10 per cent in 2024 to just over £1 billion. Total sales across the company increased to £6.3 billion. Next is only the fourth retailer after Tesco, Marks & Spencer and Kingfisher to reach the £1 billion profit milestone.
Markets: European markets closed down yesterday, following the news on Wednesday that the US would impose tariffs of 25 per cent on cars made outside of the US. Shares in Stellantis, the owner of Jeep, fell by 4.2 per cent. Shares in Mercedez-Benz and BMW fell by 2.7 per cent and 2.55 per cent respectively.
Foreign Affairs: The head of Burma’s military, Min Aung Hlaing, has said that he will hold a General Election by the end of the year. The democratically elected leader of Burma, Aung San Suu Kyi, was ousted from office by a military coup in 2021. Suu Kyi is currently serving 27 years in prison for convictions which are generally accepted to be politically motivated.
Security and intelligence: The UK, France and the EU have rebuffed Russian proposals that sanctions must be lifted before a ceasefire can take place on shipping in the Black Sea. Sir Keir Starmer said at a meeting to discuss Ukraine in Paris yesterday “now is not the time for pulling back or weakening sanctions – now is the time to increase sanctions to get [Russia] to the table.”
Domestic politics: The UK Government has announced £740 million to support 10,000 new places for pupils with special educational needs in schools. The Government states that fewer than 1 in 10 mainstream schools have specific provision for pupils with special educational needs.
The Mighty Calendar
What’s happening today?
Private Members’ Bills in the UK Parliament
Reform UK launches local election campaign
Former Liverpool mayor Joe Anderson in court on bribery charges
UK GDP data (Q4 2024)
UK retail sales data (February)
US personal income and spending data (February)
Eurozone consumer confidence data (March)
Germany unemployment data (March)
Lookahead to the weekend
Saturday
Partial solar eclipse in the UK (between 9.56am and 12.14pm)
Côte Chalonnaise Wine Marathon, France
Sunday
Mothering Sunday in the UK (Don’t forget!)
FA Cup semi-final draw
Ulster National Raceday, Co. Down, Northern Ireland
The Mighty Finale
🌤️Weather today
A bit of rain in the morning in the southeast but largely dry elsewhere. High of 14C and low of 3C in London. Light rain in Belfast and Edinburgh.
✏️Life coaching quote of the day
“The older you get, the more fragile you understand life to be. I think that’s good motivation for getting out of bed joyfully each day.” – Julia Roberts, actress
Mighty takeaway: You have the gift of live. Make the most of it.
That’s it for this week. Thanks for reading and we’ll see you again next week.
Adios!
The Mighty Memo team