Thursday 20 March 2025
The Mighty Headlines
Economics: US Federal Reserve keeps interest rates the same
Business: Ben & Jerry’s accuses Unilever of sacking CEO for political reasons
Markets: German defence stocks fall
Foreign Affairs: Istanbul mayor arrested in political opposition crackdown
Security and intelligence: EU unveils €800 billion defence spending plans
Domestic politics: UK Government departments could see 7 per cent cuts
The Mighty Stats
FTSE = 8,706.66 (up 0.016%)
S&P 500 = 5,675.29 (up 1.08%)
Nasdaq = 17,750.79 (up 1.41%)
CAC40 = 8,171.47 (up 0.7%)
£1 = $1.30 / €1.19
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The Mighty Detail
Economics: The US Federal Reserve announced yesterday evening that it would keep interest rates at between 4.25 per cent and 4.5 per cent. Fed Chair Jerome Powell said they would be kept at this level if the economy stays strong and inflation does not fall. The Bank of England’s interest rate decision is published later today.
Business: Ben & Jerry’s is accusing its owner Unilever of unlawfully removing its CEO because of political activism. The details were published as part of an ongoing lawsuit between Ben & Jerry’s and Unilever, which it accuses of silencing Ben & Jerry’s pro-Palestinian statements in the Israel-Gaza war. Unilever bought Ben & Jerry’s for $326 million in 2000 but it plans to sell all its ice-creams businesses by the end the year.
Markets: German defence stocks fell during trading yesterday. It comes after the lower house of the German Parliament agreed to loosen debt rules on defence investment while also creating a €500 billion climate and infrastructure fund. Arms manufacturer Rheinmetall fell by 4.53 per cent and Hensoldt fell by 9.31 per cent.
Foreign Affairs: Police in Turkey have arrested the Mayor of Istanbul in what is being reported as a crackdown against President Erdogan’s political rivals. Mayor Ekrem İmamoğlu has been detained along with 100 other people and is accused of corruption and supporting pro-Kurdish political forces among others.
Security and intelligence: The EU has published plans that could increase EU defence spending by up to €800 billion. An EU loans scheme will provide €150 billion to countries to spend on defence and a loosening of debt restrictions could provide €650 billion of further funding. The EU also said yesterday that Russia would be a “fundamental threat” for the “foreseeable future”.
Domestic politics: There are reports that the UK Chancellor is set to cut public spending more than previously expected in the Spring Statement next week. Some departments could face reduction of around 7 per cent and future budgets could rise by less than previously announced.
The Mighty Calendar
What’s happening today?
European Council summit for EU leaders, Brussels (ends tomorrow)
Western military chiefs meet in London to discuss Ukraine peacekeeping
Prince of Wales begins two-day visit to Estonia
International Olympic Committee chooses new President
Bank of England interest rate decision
Environment Questions in UK Parliament
UK average earnings data (January)
UK unemployment rate (January)
US jobless claims (weekly)
Japan CPI inflation data (February)
Company results from: RWE, Nike, FedEx, Prudential
Lookahead to tomorrow
European Council summit for EU leaders continues, Brussels
UN Security Council discuss Israel-Gaza conflict
England vs Albania in World Cup 2026 qualifier
UK public sector debt data (February)
EU consumer confidence data (March)
Company results from: JD Wetherspoon
The Mighty Finale
🌤️Weather today
Another sunny and dry day across the UK. High of 19C and low of 7C in London.
✏️Life coaching quote of the day
“No one can be myself like I can.” – from The One and Only by Chesney Hawkes and Nik Kershaw
Mighty takeaway: Be yourself. Don’t copy others. Find your own path.
That’s it for this morning. Thanks for reading and we’ll see you tomorrow.
Bye!
The Mighty Memo team