Monday, 18 November 2024
The Mighty Headlines
Economics: Starmer to meet China’s President Xi today to discuss trade
Business: General Motors to fire 1,000 staff
Markets: Pharmaceutical stocks fell on Friday after Donald Trump appointed RKF Jr
Foreign Affairs: Indian authorities introduce restrictions as smog worsens
Security and intelligence: Biden approves long-range missiles for Ukraine
Domestic politics: Farmers protest at Welsh Labour Conference
The Mighty Stats
FTSE = 8,063.61 (down 0.094 per cent at Friday close)
S&P500 = 5,870.62 (down 1.32 per cent at Friday close)
Nasdaq = 18,680.12 (down 2.24 per cent at Friday close)
CAC40 = 7,269.63 (down 0.58 per cent at Friday close)
£1 = $1.26 / €1.20
UK: Con / Lab / Reform = 27 / 28 / 17 per cent
Second Trump Administration Cabinet Positions
Secretary of State: Marco Rubio, Florida Senator (2011 to now)
Defence: Pete Hegseth, Iraq and Afghanistan veteran and television presenter
Attorney General: Matt Gaetz, Florida Congressman (2017 to 2024)
Interior: Doug Burgum, Governor of North Dakota (2016 to now) and software entrepreneur
Homeland Security: Kristi Noem, Governor of South Dakota (2019 to now)
Health: Robert Kennedy Jr, environmental lawyer
Energy: Chris White, CEO of Liberty Energy
Veterans Affairs: Doug Collins, former Georgian Congressman (2013 to 2021)
Treasury, Commerce, Labour, Housing, Transport: vacant
*If you’ve been forwarded the Mighty Memo, subscribe for free at www.mightymemo.co.uk. You’ll receive the Mighty Memo directly in your inbox as soon as it’s published!*
The Mighty Detail
Economics: UK Prime Minister, Sir Keir Starmer, is to meet President Xi of China at the G20 in Brazil today. The Prime Minister has said that China is one of the UK’s biggest trading partners and that he would have “serious, pragmatic” discussions with Xi. This is a change from the more distant relationship between the UK and China under the previous Government.
Business: General Motors is to fire 1,000 around workers to decrease costs and increase efficiency. Most of the roles will be white collar roles rather than manufacturing roles. GM’s share price fell by 1 per cent on Friday following the news.
Markets: Pharmaceutical stocks fell on Friday after Donald Trump announced that he had chosen Robert Kennedy Jr to be his Health Secretary. Kennedy, who is sceptical about vaccines, is also an opponent of “Big Pharma” – large and influential pharmaceutical companies. Amgen fell by over 4 per cent and Moderna by over 7 per cent.
Foreign Affairs: Authorities in New Delhi, India are tightening restrictions on vehicles and construction activity as pollution in the city intensifies. On Thursday last week, pollution was 50 times greater than what is considered safe by the World Health Organisation.
Security and intelligence: Yesterday, President Biden authorised Ukraine’s use of American long-range missiles to strike deeper into Russia – a long-term request of Ukraine. Separately, at the Asia-Pacific Economic Cooperation Summit in Peru, President Biden met President Xi of China and reportedly urged China to end its military activity around Taiwan.
Domestic politics: At the Welsh Labour Party Conference in Llandudno, farmers protested against the Government’s plan to impose inheritance tax of 20 per cent on agricultural estates over £1 million. Further protests are expected in London on Tuesday.
The Mighty Calendar
What’s happening today?
Mexico public holiday (Revolution day)
G20 summit in Brazil
Defence Questions in UK Parliament
Eurozone trade data (September)
Canada housing data (October)
Lookahead to tomorrow
Farmers’ protest in London
Volodymyr Zelensky addresses the European Parliament
Health Questions in UK Parliament
UK, Italy, Germany, France car registration data (October)
Eurozone, Canada CPI inflation data (October)
Japan trade data (October)
Company results from: Walmart, ThyssenKrupp, Imperial Tobacco
The Mighty Finale
🌤️Weather today
Rain in the south of England, dry elsewhere. High of 8oC and low of 6oC. Rain in Belfast. Sunny spells in Edinburgh.
✏️Life coaching quote of the day
“To be yourself, in a world that is constantly trying to make you something else, is the greatest accomplishment.” – Ralph Waldo Emerson, writer and philosopher
Mighty takeaway: This is quite profound for a Monday morning but perhaps one to keep with you for the rest of the week.
That’s about it for today. See you tomorrow!
Adios!
The Mighty Memo team