Monday, 9 December 2024
The Mighty Headlines
Economics: Eurozone GDP grows at fastest rate in two years
Business: US court upholds ban on TikTok in the US
Markets: S&P 500 and Nasdaq close on high following US jobs data
Foreign Affairs: EU and South America agree trade deal in principle
Security and intelligence: Profile of al-Jowlani, Syria’s insurgent leader
Domestic politics: UK Government to publish updated NHS workforce plan
The Mighty Stats
FTSE = 8,308.61 (down 0.49 per cent at Friday close)
S&P500 = 6,090.27 (up 0.25 per cent at Friday close)
Nasdaq = 19,859.77 (up 0.81 per cent at Friday close)
CAC40 = 7,426.88 (up 1.31 per cent at Friday close)
£1 = $1.27 / €1.21
UK: Con / Lab / Reform = 25 / 27 / 21 per cent
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The Mighty Detail
Economics: Eurozone GDP increased by 0.4 per cent in Q3 2024. The Eurozone’s economy last grew this quickly two years ago. Ireland recorded the highest growth at 3.5 per cent. Hungary’s economy shrunk the most at 0.7 per cent.
Business: A US federal appeals court has upheld a proposed ban on TikTok in the US. This comes after President Biden signed a law in April that would ban TikTok unless its Chinese owner sells it by 19 January 2025. There are concerns that TikTok could share users’ data with the Chinese Government. TikTok has said it will appeal the decision to the Supreme Court.
Markets: The S&P 500 and the Nasdaq finished on a high on Friday following positive US jobs data. US jobs data showed an increase of 227,000 more jobs in November, a significant increase from October’s increase of 36,000. The S&P 500 rose by 0.96 per cent over the week and the Nasdaq by 3.34 per cent.
Foreign Affairs: The European Union agreed a trade agreement in principle with South America’s Mercosur trading bloc on Friday. The deal would lift tariffs and ease trade between the EU, Argentina, Brazil, Paraguay, Uruguay and Bolivia. France strongly opposes the deal while Germany strongly supports it. A previous EU-Mercosur deal agreed in 2019 was blocked because it was not supported by all EU member states.
Security and intelligence: Abu Mohammad al-Jowlani, is emerging as a new potential leader in Syria. An Islamist militant, he has recently tried to re-make his image. In an interview last week, he said, “Syria deserves a governing system that is institutional, not one where a single ruler makes arbitrary decisions”. We include a short profile of him below.
Name: Ahmad al-Sharaa. Goes by the name of Abu Mohammad al-Jowlani.
Age: 42 years old
Role: Leader of Hayat Tahrir al-Sham (HTS), an Islamist militant group that was founded as an affiliate of al-Qaeda. HTS translates as “Organization for Liberating Syria” and is designated as a terrorist group by the US.
Past: Fought against the US in Iraq from 2003. Later broke ties with al-Qaeda.
Future: Last week said that Syria needs to be rebuilt and that HTS is just one part of the dialogue and HTS could “dissolve at any time”.
Domestic politics: The UK Government has said that it is to publish an updated NHS workforce plan in the summer. It said that the plan will include a “laser focus on shifting care from hospitals and into the community”.
The Mighty Calendar
What’s happening today?
o Rachel Reeves attending Eurogroup meeting of Eurozone Finance Ministers
o Education Questions in UK Parliament
o French Government Budget balance data (October)
o China trade data (November)
Lookahead to tomorrow
o Northern Ireland Assembly holds vote on the Northern Ireland Protocol
o Justice Questions in UK Parliament
o Germany CPI inflation data (October)
o Japan PPI inflation data (October)
o Italy industrial production data (October)
o Company results from: Ashtead Group
The Mighty Finale
🌤️Weather today
Overcast but largely dry in England. High of 8oC and low of 7oC. Bright sunshine in Belfast. Light cloud in Edinburgh.
✏️Life coaching quote of the day
“Why is it amazing that I don’t act my age? Why should I act my age? Or more to the point, how is someone my age supposed to act? Old age is part fact, part state of mind, part luck, and wholly something best left for other people to ponder, not you or me. Why waste your time? I don’t.” – Dick Van Dyke, actor
Mighty takeaway: Your life is what you make it. Age is no barrier. The only barrier is your attitude.
That’s it for this Monday morning. Make the most of your day! We hope you have a good start to the week.
Bye!
The Mighty Memo team