Monday, 25 November 2024
The Mighty Headlines
Economics: Business activity falls in Eurozone in November
Business: EasyJet to announce profits of nearly £600 million this year
Markets: Dow Jones stock index reaches record high
Foreign Affairs: COP29 announces £300 billion a year to tackle climate change
Security and intelligence: Hezbollah fired 250 rockets into Israel yesterday
Domestic politics: UK Government plans to tackle “bulging” benefits bill
The Mighty Stats
FTSE = 8,262.08 (up 1.38 per cent at Friday close)
S&P500 = 5,969.34 (up 0.35 per cent at Friday close)
Nasdaq = 19,003.65 (up 0.16 per cent at Friday close)
CAC40 = 7,255.01 (up 0.58 per cent at Friday close)
£1 = $1.26 / €1.20
UK opinion polling: Con / Lab / Reform = 27 / 29 / 17 per cent
Second Trump Administration Cabinet Positions
*Donald Trump has now appointed his incoming Cabinet. These appointments will need to be approved the US Senate. The full list is available below.*
Secretary of State: Marco Rubio, Florida Senator (2011 to now)
Defence: Pete Hegseth, Iraq and Afghanistan veteran and television presenter
Attorney General: Pam Bondi, former Attorney General of Florida (2011 to 2019)
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)
Commerce: Howard Lutnick, financier
Transport: Sean Duffy, former Wisconsin Congressman (2011 to 2019)
Education: Linda McMahon, former head of the Small Business Administration (2017 to 2019)
Treasury: Scott Bessent, financier
Labour: Lori Chavez-DeRemer, Oregon Congresswoman (2023 to now)
Housing: Scott Turner, former NFL player and Texas Congressman (2013 to 2017)
Agriculture: Brooke Rollins, President of the America First Policy Institute think tank
*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: Business activity in the Eurozone fell in November. Data from the Purchasing Managers Index shows that activity declined from 50 in October to 48.1 in November. Any number below 50 indicates a decline.
Business: EasyJet is set to report pre-tax profits of £595 million this year. This is an increase on the £455 million reported last year. EasyJet’s strong earnings have been driven in part by the success of its package holiday division. This has taken in over £180 million this year, up from £122 million last year.
Markets: The United States’ Down Jones stock index closed at a record high on Friday at 44,296.51. This is an increase of around 2 per cent in a week. The Russell 2000 stock index – which is focused on smaller companies – also did well, increasing by nearly 4.5 per cent in a week.
Foreign Affairs: At the close of the COP29 climate change summit yesterday, western countries agreed to pay $300 billion a year from 2035 for climate change adaptation in developing countries and for emissions reductions. On Friday, developing countries had walked out of the summit after western countries offered $250 billion a year.
Security and intelligence: Hezbollah, an Iranian-backed Islamist militant group in Lebanon, fired around 250 rockets into Israel yesterday. This took place as negotiators continue to seek a cease-fire. Lebanon’s Prime Minister, Najib Mikati, condemned Hezbollah’s strikes.
Domestic politics: The UK Prime Minister, Sir Keir Starmer, has said that he will set out plans this week to “get to grips with the bulging benefits bill”. The Work and Pensions Secretary, Liz Kendall, also said yesterday that the Government had to solve the issues of “poor health, poor work and not enough people being able to earn to build a better life.”
The Mighty Calendar
What’s happening today?
President Biden pardons Thanksgiving turkeys
G7 Foreign Ministers meeting, Italy
Home Office Questions in UK Parliament
Singapore CPI inflation data (October)
South Korea consumer confidence data (November)
Canada manufacturing sales data (October)
Company results from: Kingfisher
Lookahead to tomorrow
Foreign Office Questions in UK Parliament
Tobacco and Vapes Bill debated in UK Parliament
New Zealand interest rate decision
Japan CPI inflation data (October)
Hong Kong trade data (October)
United States house price data (September)
United States consumer confidence data (November)
Company results from: CrowdStrike, HP, Co-operative Bank, Compass Group
The Mighty Finale
🌤️Weather today
Sunny spells and dry for most of England. High of 12oC and low of 5oC in London. Patchy rain in Belfast. Raining all day, with gusty winds in Edinburgh.
✏️Life coaching quote of the day
“You have exactly one life in which to do everything you’ll ever do. Act accordingly.” – Colin Wright, travel writer
Mighty takeaway: Don’t put on your dreams and goals on hold. Go for it!
That’s it for this Monday. If you wish, do pass this newsletter on to someone who might find it useful!
Adios!
The Mighty Memo team