Monday, 28 October 2024
The Mighty Headlines
Economics: Russia increases interest rates to 21 per cent
Business: Panama Canal increases its profits to nearly $3.5 billion
Markets: Nvidia briefly overtakes Apple as world’s most valuable company
Foreign Affairs: Ukraine cancels visit of UN Secretary General
Security and intelligence: Chinese group reportedly hacking phone of Donald Trump
Domestic politics: UK Government announces £500 million for affordable housing
The Mighty Stats
FTSE = 8,248.84 (down 0.25 per cent at Friday close)
S&P 500 = 5,808.12 (down 0.030 per cent at Friday close)
Nasdaq = 18,518.61 (up 0.56 per cent at Friday close)
CAC40 = 7,497.54 (down 0.076 per cent at Friday close)
£1 = $1.30 / €1.20
UK: Con / Lab / Reform = 24 / 29 / 19 per cent
US swing states: Trump / Harris
Michigan 47 47.6 Harris +0.6
Pennsylvania 47.9 47.6 Trump +0.3
Wisconsin 47.6 47.8 Harris +0.2
Arizona 48.6 46.7 Trump +1.9
N. Carolina 48.3 47.1 Trump +1.2
Georgia 48.5 47.0 Trump +1.5
Nevada 47.2 47.3 Harris +0.1
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The Mighty Detail
Economics: Russia’s central bank has increased interest rates from 19 per cent to 21 per cent. This is the highest level since February 2003. Export revenues from oil and government spending on the military means the rate of inflation in the country is higher than the target and will average out to around 7.9 per cent this year. CNBC
Business: The Panama Canal’s profits increased by 9.5 per cent in the year to September to $3.45 billion. This is despite the Canal suffering from the third driest year on record which has reduced the water available for ships to pass through it. An average of 27 ships a day pass through the Panama Canal out of a maximum capacity of 36 ships. Reuters
Markets: Chipmaker Nvidia briefly overtook Apple as the world’s most valuable company during trading on Friday. Nvidia’s value reached $3.53 trillion on Friday, just above Apple which is worth $3.52 trillion. Nvidia’s shares have risen by 18 per cent in October alone. Reuters
Foreign Affairs: The Ukrainian Government has cancelled a visit by the UN Secretary General following intelligence that North Korean troops would be deployed in Russia against Ukraine. It is thought that North Korean troops could be deployed to the Kursk region of Russia, parts of which Ukraine has held since August. Associated Press
Security and intelligence: There are reports that Chinese hackers have attempted to infiltrate the telephones of Donald Trump, JD Vance and people working on the Harris campaign. The Washington Post has said that the attacks come from a Chinese hacking group called “Salt Typhoon” which is reportedly linked to China’s intelligence agency, the Ministry of State Security.
Domestic politics: Ahead of the UK Budget this week, the Government has said that it will be investing an additional £500 million to deliver up to 5,000 new affordable homes. The Government has said that it will also seek to protect social housing stock by reducing the discount provided by the Right to Buy scheme which allows social housing tenants to purchase their home.
The Mighty Calendar
What’s happening today?
New Zealand public holiday (Labour Day)
Housing Questions in UK Parliament
General Debate on Remembrance in UK Parliament
World Meteorological Organisation Greenhouse Gas Bulletin
Spain retail sales data (September)
Hong Kong trade data (September)
Japan unemployment data (September)
Company results from: Ford Motors
Lookahead to tomorrow
Treasury Questions in UK Parliament
Great British Energy Bill (Remaining Stages) in UK Parliament
UK mortgage approvals data (September)
United States house prices data (August)
Australia CPI inflation data (Q3 2024)
Company results from: Alphabet, McDonald’s, Santander, HSBC, BP, Lufthansa
The Mighty Finale
🌤️Weather today
Light cloud in London and a chance of rain for most of the day. High of 16oC and low of 13oC. Drizzle in Belfast and light could in Edinburgh.
✏️Life coaching quote of the day
“No person, no place and no thing has any power over us, for ‘we’ are the only thinkers in our mind. When we create peace and harmony and balance in our minds, we will find it in our lives.” – Louise Hay, motivational speaker
Mighty takeaway: What you think becomes your reality.
That’s all for today. Have a great week. And don’t forget to live your dreams!
Cheerio!
The Mighty Memo team