Friday, 25 October 2024

The Mighty Headlines

 

  • Economics: UK Government’s borrowing costs increase

  • Business: Striking Boeing workers reject 35 per cent pay rise

  • Markets: Tesla shares increase by 20 per cent

  • Foreign Affairs: Canada plans to reduce immigration

  • Security and intelligence: Russian Duma ratifies treaty with North Korea

  • Domestic politics: UK PM announces plan to increase Commonwealth trade

 

The Mighty Stats

 

  • FTSE = 8,269.38 (up 0.13 per cent at Thursday close)

  • S&P500 = 5,809.86 (up 0.21 per cent at Thursday close)

  • Nasdaq = 18,415.49 (up 0.76 per cent at Thursday close)

  • CAC40 = 7,503.28 (up 0.077 per cent at Thursday close)

 

  • £1 = $1.30 / €1.20

 

  • US swing states: Trump / Harris

Michigan            47               47.6            Harris +0.6

Pennsylvania     47.9            47.6            Trump +0.3

Wisconsin          47.6            47.8            Harris +0.2

Arizona               48.6            46.7            Trump +1.9

N. Carolina        48.3            47.1            Trump +1.2

Georgia              48.5            47.0            Trump +1.5

Nevada               47.2            47.3            Harris +0.1

 

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The Mighty Detail

 

Economics: The UK government’s borrowing costs are increasing on the financial markets after the Chancellor announced that she would change the Government debt rules to borrow more money. Yields – effectively the interest rates – on UK government bonds increased to 4.23 per cent.

 

Business: Workers on strike at Boeing have rejected a 35 per cent pay rise over four years. Of those who voted, 64 per cent voted against the deal. The strike began on 13 September and will continue. Boeing reported a loss of more than $6 billion in Q3 2024.

 

Markets: Tesla shares increased by 20 per cent during trading yesterday. This marks the company’s best performance on the stock market since 2013. On Wednesday, the company reported revenue of $25.37 billion – an increase of 8 per cent from the year before.

 

Foreign Affairs: The Canadian Prime Minister has announced plans to reduce immigration to the country following a rise after the Covid-19 pandemic. Canada’s population rose by 1.3 million between 2023 and 2024, with 97.6 per cent of that growth from immigration. The target for the number of new permanent residents next year will fall from 500,000 to 395,000 – a 21 per cent decrease.

 

Security and intelligence: The Russian Duma has ratified a treaty with North Korea for mutual military assistance, which was signed by President Putin and King Jong Un in June. Asked at the BRICS summit press conference about the presence of North Korean troops in Russia, President Putin mentioned the treaty and said how the two countries would use it was “our business.”

 

Domestic politics: During his visit to the Commonwealth Heads of Government Meeting in Samoa, the UK Prime Minister has announced a new UK Trade Centre of Expertise to increase trade with the Commonwealth. The meeting is being dominated, however, by requests for talks on reparations for slavery by Caribbean nations.

 

The Mighty Calendar

 

What’s happening today?

 

  • England Women’s Football team play Germany Women’s Football team, Wembley

  • Presidential election on Kiribati (Pacific island nation)

  • France and Italy consumer confidence data (October 2024)

  • Spain unemployment data (Q3 2024)

  • Canada retail sales data (August)

  • Canada manufacturing sales data (September)

  • Singapore industrial production data (September)

  • Company results from: NatWest

 

Lookahead to the weekend

 

Saturday

  • Design and Craft Fair, London

  • Ghostbusters movie in concert with Royal Philharmonic Orchestra, Royal Albert Hall

 

Sunday

  • British Summer Time ends (clocks go back an hour in UK)

  • General Election in Japan

  • Mexico Grand Prix

  • Dublin Marathon

 

The Mighty Finale

 

🌤️Weather today

 

Drizzle in London. High of 18oC and low of 10oC. Light rain in Belfast. Mist in Edinburgh.

 

✏️Life coaching quote of the day

 

“You only have control over three things in your life – the thoughts you think, the images you visualise, and the actions you take.” – Jack Canfield, motivational speaker

 

Mighty takeaway: Change any one of these – your thoughts, the images your visualise or the actions you take and you can change your life.

 

That’s it for this week and this Friday. We hope you’ve achieved great things this week! We’ll see you again on Monday.

 

Cheerio!

 

The Mighty Memo team

hello@mightymemo.co.uk

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Thursday, 24 October 2024