Tuesday 11 March 2025
The Mighty Headlines
Economics: Ontario increases electricity prices to the USA
Business: Virgin seeks to create rival to Eurostar
Markets: US stocks fall as recession fears increase
Foreign Affairs: General Election in Greenland today
Security and intelligence: Syria’s President reacts to recent violence
Domestic politics: UK concerned about China’s activity in South China Sea
The Mighty Stats
FTSE = 8,600.22 (down 0.92 per cent)
S&P 500 = 5,614.56 (down 2.7 per cent)
Nasdaq = 17,468.32 (down 4 per cent)
CAC40 = 8,047.60 (down 0.9 per cent)
£1 = $1.29 / €1.19
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The Mighty Detail
Economics: Ontario is increasing the price of the electricity it supplies to the US by 25 per cent. This is in response to the US Government’s recent tariffs on Canada. The Premier of Ontario, Doug Ford, said that the surcharge would increase further if US tariffs increase further. Ontario provides electricity to 1.5 million Americans in New York, Michigan and Minnesota.
Business: Virgin Group is looking to raise £700 million to start a cross-Channel rail service. It comes as the Channel Tunnel’s owners seek to increase passenger numbers. Eurostar, however, is frustrating access (it currently has a monopoly on cross-Channel rail service) and so Virgin is appealing to the UK’s rail regulator.
Markets: US stock markets continued to fall during trading yesterday as fears of a recession approach in the United States. The Nasdaq fell by 4 per cent, Bitcoin has fallen below $80,000 and US government bond yields continue to increase as their prices fall. President Trump has refused to rule out the possibility of a recession.
Foreign Affairs: The residents of Greenland are voting in a General Election today. Greenland controls its own domestic policies but foreign and defence policies are led by Denmark. Separately, President Trump has stated his intention to acquire the territory.
Security and intelligence: The interim President of Syria, Ahmed Sharaa, has said that the recent surge in fighting in Syria has threatened his goal of uniting the country. Although he stated that the violence was started by people loyal to former President Assad, Sharaa added that those responsible for revenge killings on the Alawite community (the same religious sect as former President Assad) would also be punished.
Domestic politics: The British Foreign Secretary has said that he is concerned about China’s “dangerous and destabilising” activity in the South China Sea. He highlighted the effect on the Philippines and added that the UK economy depends on secure trade routes through the waters.
The Mighty Calendar
What’s happening today?
French, British, German, Italian and Polish Defence Ministers meet in Paris
US-Ukraine-Russia talks expected to begin in Saudi Arabia
General Election in Greenland
Justice Questions in UK Parliament
Japan PPI inflation data (February)
Company results from Volkswagen, Persimmon
Lookahead to tomorrow
G7 Foreign Ministers meet in Quebec, Canada
NASA and SpaceX Crew-10 mission launch expected
Prime Minister’s Questions in UK Parliament
US CPI inflation data (February)
US earnings data (February)
Bank of Canada interest rate decision
South Korea unemployment rate (February)
Company results from: Balfour Beatty, Ferrexpo
The Mighty Finale
🌤️Weather today
Dry but cloudy in most of England. Light rain in the northeast. High of 9C and low of 1C in London. Sunny spells in Belfast and Edinburgh.
✏️Life coaching quote of the day
“The best way to predict the future is to create it.” – Peter Drucker, management consultation and educator
Mighty takeaway: You are in charge of your life. Decide what you want to do with it.
That’s it for this Tuesday morning. Thanks for reading and we’ll see you tomorrow.
Adios!
The Mighty Memo team