Monday, 20 January 2025
The Mighty Headlines
Economics: Inflation increases to 2.4 per cent in the Eurozone
Business: No carmaker to face UK fines for missing electric vehicle targets
Markets: FTSE 100 reaches record high on Friday
Foreign Affairs: Donald Trump to sign “record setting” executive orders
Security and intelligence: Mauritius PM says Chagos deal is a “sell out”
Domestic politics: Jeremy Corbyn interviewed by The Met under caution
The Mighty Stats
FTSE = 8,505.22 (up 1.35 per cent)
S&P500 = 5,996.66 (up 1 per cent)
Nasdaq = 19,630.20 (up 1.51 per cent)
CAC40 = 7,709.75 (up 0.98 per cent)
£1 = $1.22 / €1.18
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The Mighty Detail
Economics: Inflation in the Eurozone rose by 2.4 per cent in December. This is the third consecutive monthly increase. In November, inflation stood at 2.2 per cent. Ireland recorded the lowest inflation (1 per cent). Romania recorded the highest (5.5 per cent).
Business: It is being reported that no UK carmaker will pay fines for missing electric vehicle sales targets in 2024. Under current targets, carmakers face fines of up to £15,000 for every car they sell above their quota of conventional cars. The Government is likely to adjust the rules as buyers fail to buy electric cars in sufficient numbers.
Markets: The FTSE 100 reached an all-time high of 8,533.43 during trading on Friday. A factor in the rise is the increased probability of an interest rate cut next month, following weak UK retail sales, industrial production and growth data.
Foreign Affairs: The new US President, Donald Trump, takes office today. The inauguration ceremony will take place at 5.00pm UK time. At the weekend, Trump said that he would set a “record setting” number of executive orders after taking office and that deportations of undocumented immigrants would begin “very early, very quickly.”
Security and intelligence: The new Prime Minister of Mauritius, Navin Ramgoolam, has described the Chagos Islands deal with the UK as a “sell out”. Under the deal, the Chagos Islands – which contain UK and US military bases – would be returned to Mauritius but leased back to the UK for 99 years. The new Trump administration opposes the deal.
Domestic politics: The former leader of the Labour Party, Jeremy Corbyn, and the former Shadow Chancellor, John McDonnell, have agreed to be interviewed under caution by the Metropolitan Police. This follows disruption at a pro-Palestine rally in London on Saturday which they attended.
The Mighty Calendar
What’s happening today?
o United States public holiday (Martin Luther King Jr Day)
o Donald Trump’s inauguration (5.00pm UK time)
o World Economic Forum (WEF) summit begins, Davos, Switzerland
o Chris Whitty and Jonathan Van-Tam at UK Covid inquiry
o Housing Questions in UK Parliament
o Germany and South Korea PPI inflation data (December)
o Eurozone construction data (November)
Lookahead to tomorrow
o Ukrainian President Volodymyr Zelensky speaks at WEF summit at Davos
o European Commission President Ursula von der Leyen speaks at WEF summit at Davos
o Polish Prime Minister Donald Tusk addresses European Parliament
o Treasury Questions in UK Parliament
o UK, Germany, Italy, France car registrations data (December)
o UK unemployment data (November)
o Company results from: Netflix
The Mighty Finale
🌤️Weather today
Dry for most of England. High of 7C and low of 0C in London. Dry in Belfast and Edinburgh too.
✏️Life coaching quote of the day
“It's not what we do once in a while that shapes our lives. It's what we do consistently.” – Tony Robbins, motivational speaker
Mighty takeaway: Small consistent actions often have more impact than one big action.
That’s it for this morning. Thanks for reading and we’ll see you again soon.
Bye!
The Mighty Memo team