Thursday, 30 January 2025
The Mighty Headlines
Economics: EU to cut red tape to boost competitiveness
Business: Morrisons increases sales to £15.2 billion
Markets: Aluminium price increases ahead of Russian import ban
Foreign Affairs: France’s budget talks at risk of collapse
Security and intelligence: North Korea calls for increased nuclear capabilities
Domestic politics: UK Government backs third runway at Heathrow
The Mighty Stats
FTSE = 8,557.81 (up 0.28 per cent)
S&P500 = 6,039.31 (down. 0.47 per cent)
Nasdaq = 19,632.32 (down 0.51 per cent)
CAC40 = 7,872.48 (down 0.32 per cent)
£1 = $1.24 / €1.19
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The Mighty Detail
Economics: The EU has announced an “unprecedented simplification” plan to increase the bloc’s economic growth and increase competitiveness. The European Commission President, Ursula von der Leyen, said the plan would reduce administrative costs for companies by 25 per cent.
Business: New data shows that sales at supermarket chain Morrisons increased to £15.2 billion in the year ending October 2024. Revenue the previous year was £14.7 billion. The company said it had made improvements which had led to “better availability in our shops, sharper prices, more effective promotions and a strong and growing loyalty scheme.“
Markets: The price of aluminium rose during trading yesterday as the EU prepares to impose a ban on importing the metal from Russia. The new system would allow buyers in Europe to purchase 275,000 tonnes of aluminium for a year before the ban comes into effect.
Foreign Affairs: Budget talks in France may again be at the point of collapse after the Socialist Party withdrew from discussions. This follows Prime Minister Bayrou’s remarks that many French people feel “submerged” by immigration. No party has overall control in the French Assembly and a lack of agreement on a budget led to the collapse of the previous Government in December.
Security and intelligence: The leader of North Korea, Kim Jong Un, has called for his country’s nuclear capabilities to be increased further following a visit to a nuclear facility earlier this week. It is thought that North Korea may have enough nuclear material for up to 90 warheads.
Domestic politics: In a major speech yesterday, the UK Chancellor Rachel Reeves has confirmed the Government’s support for a third runway at Heathrow in a bid to increase economic growth. Reeves also refused to rule out further tax rises on businesses.
The Mighty Calendar
What’s happening today?
Tulsi Gubbard confirmation hearing as US National Intelligence Director
China, South Korea, Hong Kong, Singapore public holiday (new year)
European Central Bank interest rate decision
Eurozone GDP data (Q4 2024)
Eurozone unemployment data (December)
Spain CPI inflation data (January)
US unemployment data (weekly)
Company results from: Apple, Shell, Intel, Caterpillar, Nokia
Lookahead to tomorrow
China, Hong Kong public holiday (new year)
UK house price data (January)
France CPI inflation data (January)
Germany unemployment rate (January)
US personal spending and income data (December)
South Korea trade data (January)
Company results from: ExxonMobil, Chevron
The Mighty Finale
🌤️Weather today
A day of sun for most of England. High of 8C and low of 2C in London. Sunny and dry in Belfast and Edinburgh too.
✏️Life coaching quote of the day
“Leaders spend 5 per cent of their time on the problem and 95 per cent of their time on the solution.” – Tony Robbins, motivational speaker
Mighty takeaway: Become solution orientated. Do not focus on the problem.
That’s about it for today’s edition.
Adios!
The Mighty Memo team