Thursday, 12 September 2024
The Mighty Headlines
Economics: Spain’s PM publicly urges EU to drop China tariffs
Business: Amazon Web Services to invest £8 billion in UK
Markets: Tech shares help Nasdaq end day on a high
Foreign Affairs: Palestinian representative gets seat in UN General Assembly
Security and intelligence: Islamist Action Force largest party in Jordan
Domestic politics: Government introduces Renters’ Rights Bill
The Mighty Stats
FTSE = 8,193.94 (down 0.15 per cent at Wednesday close)
S&P500 = 5,554.13 (up 1.07 per cent at Wednesday close)
Nasdaq = 17,395.53 (up 2.17 per cent at Wednesday close)
Nikkei = 36,833.27 (up 3.41 per cent at Thursday close)
CAC40 = 7,396.83 (down 0.14 per cent at Wednesday close)
£1 = $1.31 / €1.18 / ¥186.00
US: Trump / Harris = 47.3 / 48.4 per cent
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The Mighty Detail
Economics: Spain’s Prime Minister, Pedro Sanchez, has publicly urged the European Union to “reconsider” tariff proposals on Chinese electric vehicles. After speaking with President Xi earlier in the week, Sanchez added yesterday that “we need to build bridges between the European Union and China.”
Business: Amazon Web Services is set to invest £8 billion in building data centres in the UK over the next five years. Amazon Web Services provides cloud computer and internet services and reported revenue of $26.28 billion in Q2 2024.
Markets: An increase in the value of tech shares helped the Nasdaq end the day over 2 per cent higher than yesterday. Shares in chipmakers Nvidia and Arm Holdings rose by nearly 8 per cent and nearly 10 per cent respectively.
Foreign Affairs: Palestine now has a seat among member states at the UN General Assembly. The change took place at the opening of the 79th UN General Assembly on Tuesday. The Palestine representative formerly sat at the back of the assembly chamber. Palestine has observer status at the UN and will not gain full membership unless recommended by the Security Council.
Security and intelligence: An Islamist political party is now the largest party in Jordan’s parliament. This follows elections on Tuesday. The Islamist Action Front won 31 seats in the 138-seat Parliament. Under the constitution, however, most power in Jordan rests with the King.
Domestic politics: The Government introduced the Renters’ Rights Bill in Parliament yesterday. The Bill will end so-called ‘no-fault’ evictions and require landlords to give a valid cause to end a tenancy early. Landlords will also be required to publish an asking rent and will be banned from accepting bids above this price which the Government says will prevent bidding wars.
The Mighty Calendar
What’s happening today?
G7 Employment Ministers meet in Italy (ends Friday 13th)
G20 Agricultural Ministers meet in Brazil (ends Friday 13th)
Beijing-Xiangshan Security Forum begins in China (ends Saturday 14th)
ECB interest rate decision
Environment Questions in UK Parliament
Spain CPI inflation data (August)
United States PPI inflation data
India industrial production data (July)
Lookahead to tomorrow
UK Prime Minister holds meeting with President Biden in Washington D.C.
NATO defence chiefs meet in Prague (ends Sunday 15th)
German Chancellor receives Kenyan President William Ruto
Japan industrial production data (July)
Eurozone industrial production data (July)
France CPI inflation data (August)
China retail sales data (August)
China industrial production data (August)
China unemployment rata data (August)
The Mighty Finale
🌤️Weather today
Dry until mid-afternoon when there’s a small chance of rain in London. High of 15oC and low of 5oC. Same weather in Edinburgh but cooler. Patchy rain throughout the day in Belfast.
✏️Life coaching quote of the day
“Success follows doing what you want to do. There is no other way to be successful.” – Malcolm Forbes, publisher of Forbes Magazine
Mighty takeaway: It’s hard work trying to do well in something you don’t enjoy. If you have a talent for something, enjoy doing it and can be paid to do it, why wouldn’t you pursue it?
That’s all for this morning. See you tomorrow. 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