Tuesday, 11 February 2025
The Mighty Headlines
· Economics: UK GDP predicted to fall
· Business: Intel’s new Head of AI leaves to become Nokia CEO
· Markets: Shares in “meme stock” GameStop rise by over 9 per cent
· Foreign Affairs: China offers conditional talks with Dalai Lama over Tibet
· Security and intelligence: Hamas stops hostage release and Trump says he is losing patience
· Domestic politics: Farmers protests in London
The Mighty Stats
· FTSE = 8,767.80 (up 0.77 per cent)
· S&P 500 = 6,066.44 (up 0.67 per cent)
· Nasdaq = 19,714.27 (up 0.98 per cent)
· CAC40 = 8,006.22 (up 0.42 per cent)
· £1 = $1.24 / €1.20
*If you’ve been forwarded the Mighty Memo, subscribe for free at www.mightymemo.co.uk. You’ll receive the Mighty Memo directly in your inbox as soon as it’s published!*
The Mighty Detail
Economics: UK GDP is expected to fall when the latest figures are announced on Thursday. New analysis suggests that UK economic growth fell by 0.1 per cent between September and December following stagnating growth in the previous quarter.
Business: Intel’s Head of Artificial Intelligence, Justin Hotard, is to leave his role to become the new CEO of Nokia. Nokia has been suffering from lower demand for its 5G equipment but says that Hotard’s expertise in AI and data centre markets are “critical areas for Nokia’s future growth”.
Markets: Shares in video game store, GameStop, rose by more than 9 per cent yesterday. It comes after CEO Ryan Cohen posted a photo of himself with Michael Saylor, the co-founder of the largest corporate holder of bitcoin. GameStop shares are known as a “meme stock” – shares whose value is influenced by social media posts.
Foreign Affairs: China has said that it is open to discussing the Dalai Lama’s future in Tibet as long as he acknowledges that Tibet and Taiwan are “inalienable” parts of China. This follows the death of the Dalai Lama’s older brother, Guo Jiakun, on Saturday who had acted as an unofficial envoy in talks with China. The Dalai Lama turns 90 in July and has expressed a wish to return to Tibet before his death.
Security and intelligence: Hamas has said that it will stop releasing Israeli hostages. It accuses Israel of violating the ceasefire deal by stopping aid and continuing to attack Gaza. Israel said that Hamas’s decision violates the ceasefire deal and that its military would be put on the highest level of readiness. President Trump said on Sunday that the US would at “some point…lose our patience”.
Domestic politics: UK farmers blocked Parliament Square and Whitehall in London yesterday in protest against the UK Government’s proposals to levy inheritance tax on agricultural properties. Reform leader, Nigel Farage, addressed farmers before the rally calling for an end to all “death taxes.”
The Mighty Calendar
What’s happening today?
· Japan public holiday (national day)
· President Trump meets King of Jordan, Washington DC
· President Macron hosts world leaders for plenary session at AI Summit
· Speech by Bank of England Governor
· Health Questions in UK Parliament
· France unemployment data (Q4 2024)
· US small business confidence data (January)
Lookahead to tomorrow
· UK chairs Ukraine Defence Contact Group meeting, Brussels
· US Senate votes on Tulsi Gubbard’s nomination as Director of National Intelligence
· Indian Prime Minister expected to visit the US
· Canadian Prime Minister meets European Commission President at EU-Canada summit
· Prime Minister’s Questions in UK Parliament
· Italy industrial production data (December)
· US CPI inflation data (January)
· Company results from: Heineken International, Kraft Heinz, SoftBank
The Mighty Finale
🌤️Weather today
Largely dry apart from the northeast of England. High of 6C and low of 2C in London. Light rain in Belfast and Edinburgh.
✏️Life coaching quote of the day
“You are everything you choose to be.” – Shad Helmsetter, motivational writer
Mighty takeaway: Who have you chosen to be and who will you choose to become?
That’s it for this morning. Thanks for reading and we’ll see you tomorrow.
Bye!
The Mighty Memo team