Friday, 23 August 2024
Friday, 23rd August 2024 – www.mightymemo.co.uk
The Mighty Headlines
Economics: Private sector in Eurozone growing
Business: McDonald’s to open over 200 more restaurants in UK and Ireland
Markets: Peleton shares rise by more than 30 per cent
Foreign Affairs: Iranian Parliament approves new Cabinet
Security and intelligence: Taliban dismisses 280 members of its security forces
Domestic politics: Energy Secretary visits Brazil
The Mighty Stats
FTSE = 8,288.00 (up 0.055 per cent at Thursday close)
S&P500 = 5,570.64 (down 0.89 per cent at Thursday close)
Nasdaq = 17,619.35 (down 1.67 per cent at Thursday close)
Nikkei = 38,364.27 (up 0.4 per cent at Friday close)
CAC40 = 7,524.11 (down 0.0081 per cent at Thursday close)
£1 = $1.31 / €1.18 / ¥190.88
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The Mighty Detail
Economics: The private sector in the Eurozone grew more than expected in August. The Purchasing Manager’s Index survey rose to 51.2 this month. Any figure above 50 indicates growth. This is the fastest growth in three months. The expected level was 50.1.
Business: McDonald’s is set to open over 200 restaurants in the UK and Ireland. Over the next four years, McDonald’s will spend £1 billion to bring its total number of sites to 1,700. It says this will create over 24,000 jobs.
Markets: Shares in Peleton rose by more than 30 per cent yesterday afternoon. This comes after the fitness company announced it had increased year-on-year sales for the first time since the 2021 holiday season. Sales rose by 0.2 per cent to $643.6 million in the three months to 30 June.
Foreign Affairs: The Iranian Parliament approved all members of the Cabinet proposed by the new President Masoud Pezeshkian. The new foreign affairs minister, Abbas Araghchi, said that China, Russia, Africa, Latin America and East Asia are priority regions for foreign policy. He added that Europe would only be a priority if it changed its “hostile behaviour” and the relationship with the US would be based on “conflict management”.
Security and intelligence: The Taliban has dismissed more than 280 members of its security forces for failing to grow a beard in line with a strict interpretation of Islamic law. Around 13,000 people have been detained for “immoral acts in the last year”. Separately, the UN rapporteur on human rights in Afghanistan has been banned from entering the country.
Domestic politics: The Energy Secretary, Ed Miliband, visited Brazil this week to discuss climate change and industrial decarbonisation with the Brazilian government. Brazil will take the presidency of the G20 this year and the presidency of COP30 in 2025.
The Mighty Calendar
What’s happening today?
US Federal Reserve Chair speaks at Jackson Hole
Bank of England Governor speaks at Jackson Hole
Singapore CPI inflation data (July)
Spain consumer confidence data (July)
Canada retail sales data (July)
Lookahead to the weekend
Saturday:
Dartmouth Royal Regatta
Bury St Edmunds Food Festival
Victorious Music Festival, Southsea Common
Sunday:
Notting Hill Carnival
International Beatleweek, Liverpool
Leeds Music Festival
The Mighty Finale
🌤️Weather today
Wet start but then dry from mid-morning. High of 23℃ and low of 14℃. Thundery showers in Belfast. Heavy rain in Edinburgh but dry for a few hours around lunchtime.
✏️Life coaching quote of the day
“You have everything you need to achieve anything you want.” – Jack Canfield, writer and motivational speaker.
Mighty takeaway: You may not know it yet but you have what it takes to achieve your goals. You have what it takes to find the answers. They will come to you once you start working on your goals.
That’s it for today. Thank you for reading! If you like what you read or don’t like it at all, let us know. And do pass this newsletter on to someone who might find it useful.
Adios!
The Mighty Memo team