Tuesday, 19 November 2024
The Mighty Headlines
Economics: Price of UK homes for sale falls in October
Business: Cost of olive oil to fall significantly after increase of 150 per cent
Markets: Tesla shares rise by over 5 per cent yesterday
Foreign Affairs: Russia vetoes UN Security Council resolution to pause Sudan war
Security and intelligence: Russia warns against Ukraine’s use of US weapons
Domestic politics: UK Prime Minister talks trade and human rights with China
The Mighty Stats
FTSE = 8,109.32 (up 0.57 per cent at Monday close)
S&P500 = 5,893.62 (up 0.39 per cent at Monday close)
Nasdaq = 18,791.81 (up 0.6 per cent at Monday close)
CAC40 = 7,278.23 (up 0.12 per cent at Monday close)
£1 = $1.27 / €1.20
Second Trump Administration Cabinet Positions
Secretary of State: Marco Rubio, Florida Senator (2011 to now)
Defence: Pete Hegseth, Iraq and Afghanistan veteran and television presenter
Attorney General: Matt Gaetz, Florida Congressman (2017 to 2024)
Interior: Doug Burgum, Governor of North Dakota (2016 to now) and software entrepreneur
Homeland Security: Kristi Noem, Governor of South Dakota (2019 to now)
Health: Robert Kennedy Jr, environmental lawyer
Energy: Chris White, CEO of Liberty Energy
Veterans Affairs: Doug Collins, former Georgian Congressman (2013 to 2021)
Treasury, Commerce, Labour, Housing, Transport: vacant
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The Mighty Detail
Economics: The average price of new properties coming to the market in the UK fell by 1.4 per cent in October to £366,952. This is greater than the usual drop in October of around 0.8 per cent. Over a year, however, home asking prices are 1.2 per cent higher and the volume of sales has increased by 26 per cent.
Business: The world’s largest producer of olive oil, Deoleo, has said the price of olive oil is set to fall in the coming months on the expectation of a better harvest this year. This follows two years of drought which reduced harvests in Spain – the home of nearly 50 per cent of the world’s olive oil production. In January, olive oil prices were 150 per cent higher than at the end of 2021.
Markets: Tesla shares increased by over 5 per cent during trading yesterday. This follows reports that the incoming Trump administration may seek to reduce regulations on self-driving vehicles.
Foreign Affairs: Russia has vetoed a UN Security Resolution calling for a cease-fire in Sudan. The Sudanese army has been at war with Sudanese paramilitary forces since April 2023 as both groups struggle for control of the country. The UN says that Sudan is on the brink of famine. Russia said it applied its veto because “solely the government of Sudan” should be responsible for what happens in Sudan.
Security and intelligence: Russia has said that President’s Biden decision to allow Ukraine to use American long-range weapons against Russia adds “fuel to the fire” and risks escalating tensions higher. Ukraine may use the weapons in the coming days. Meanwhile, there are reports that North Korea may deploy 100,000 troops to support the Russian military against Ukraine.
Domestic politics: The UK’s Prime Minister met President Xi of China yesterday at the G20 summit in Brazil. As well as trade, the Prime Minister Starmer raised the issues of Taiwan, human rights, the South China Sea, the UK and China’s shared interest in Hong Kong and the deterioration in prison of Jimmy Lai, a British citizen and pro-democracy activist in Hong Kong. At this point, Chinese officials pushed British reporters out of the room.
The Mighty Calendar
What’s happening today?
Farmers’ protest in London
Volodymyr Zelensky addresses the European Parliament
Health Questions in UK Parliament
UK, Italy, Germany, France car registration data (October)
Eurozone, Canada CPI inflation data (October)
Japan trade data (October)
Company results from: Walmart, ThyssenKrupp, Imperial Tobacco
Lookahead to tomorrow
Prime Minister’s Questions in UK Parliament
UK CPI inflation data (October)
UK house price data (October)
Eurozone construction output data (September)
United States mortgage applications data (weekly)
Company results from: Nvidia, Severn Trent, British Land
The Mighty Finale
🌤️Weather today
Rain in southern England tomorrow. High of 6oC and low of -1oC in London. Sunny spells in Belfast and Edinburgh.
✏️Life coaching quote of the day
“Either you run the day or the day runs you.” – Jim Rohn, motivational speaker
Mighty takeaway: Organise your time so that you get the most out of every day. Don’t waste your time on the unimportant stuff.
That’s about it for today’s edition. See you tomorrow!
Adios!
The Mighty Memo team