Thursday 13 March 2025
The Mighty Headlines
Economics: Canada and EU impose retaliatory tariffs on the US
Business: Germany’s Rheinmetall announces 36 per cent increase in profits
Markets: US stocks rise on better-than-expected inflation news
Foreign Affairs: Measles outbreak in Morocco continues
Security and intelligence: Iran refuses to engage in nuclear talks
Domestic politics: UK expels Russian diplomats
The Mighty Stats
FTSE = 8,540.97 (up 0.53 per cent)
S&P 500 = 5,599.30 (up 0.49 per cent)
Nasdaq = 17,648.45 (up 1.22 per cent)
CAC40 = 7,988.96 (up 0.59 per cent)
£1 = $1.30 / €1.19
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The Mighty Detail
Economics: Canada has announced nearly $30 billion worth of retaliatory tariffs on US steel and aluminium imports after the US’s worldwide tariffs on the same products came into effect yesterday. Canada is the largest supplier of steel and aluminium to the US. The European Union is also affected by the US’s policy and is retaliating with $26 billion worth of tariffs on US goods.
Business: Rheinmetall has announced a 36 per cent increase in sales for 2024. Over the same period, the German arms manufacturer’s operating profit increased by 61 per cent to €1.48 billion. The company predicts that defence sales in 2025 will increase by between 35 and 40 per cent “given the dramatically changed security policy situation.”
Markets: US stock markets rose slightly yesterday on the news that US inflation was lower than expected. US inflation in February stood at 0.2 per cent, with the annual inflation rate at 2.8 per cent. This is lower than the 0.3 per cent and 2.9 per cent that had been expected.
Foreign Affairs: Morocco is dealing with an ongoing measles outbreak of “historic levels”. The Moroccan Government states that the “global anti-vax movement” is responsible for the recent low uptake of vaccinations against the disease. Since late 2023, there have been more 25,000 cases reported and 120 deaths.
Security and intelligence: Iran’s Supreme Leader, Ayatollah Ali Khamenei, yesterday rejected the offer of talks with the US on its nuclear capabilities. Yesterday evening, the UK issued a warning at the UN Security Council that it would trigger UN sanctions on Iran to prevent it developing a nuclear weapon.
Domestic politics: The UK Government has expelled a Russian diplomat after Moscow expelled two British diplomats last week. The UK Foreign Office has said that Russia’s attitude towards British diplomats effectively represents an attempt to close the British Embassy in Moscow.
The Mighty Calendar
What’s happening today?
Business and Trade Questions in UK Parliament
UK Prime Minister gives speech on reforms to how government works
Michelle Obama to speak at South by Southwest Film Festival, Texas
Data on UK MPs’ expenses published
UK, France, Italy, Germany, China, Japan consumer sentiment data (March)
Eurozone industrial production data (February)
US PPI inflation data
US jobless claims (weekly)
Lookahead to tomorrow
China, Russia and Iran meet to discuss nuclear capabilities
Private Members’ Bills in the UK Parliament
Cheltenham Gold Cup
UK GDP data (January)
UK industrial and manufacturing production data (January)
France, Germany, Spain CPI inflation data (February)
Company results from: Daimler, BMW
The Mighty Finale
🌤️Weather today
Sunny spells in the southwest. Light rain elsewhere. High of 8C and low of -1C in London. Dry, with sunny spells in Belfast and Edinburgh.
✏️Life coaching quote of the day
“There is only one person responsible for the quality of life you live and that person is you.” – Jack Canfield, motivational speaker
Mighty takeaway: Take action to live the life you envisage for yourself.
That’s it for this Thursday. We’ll see you tomorrow.
Bye!
The Mighty Memo team