Thursday, 26 September 2024
The Mighty Headlines
Economics: Growth forecast for UK upgraded
Business: PwC reports nearly 10 per cent revenue growth
Markets: Bitcoin reaches one-month high
Foreign Affairs: President Putin issues warning over nuclear weapons
Security and intelligence: Hezbollah fires first ever ballistic missile
Domestic politics: Zombie knives now banned
The Mighty Stats
FTSE = 8,268.70 (down 0.17 per cent at Wednesday close)
S&P500 = 5,722.26 (down 0.19 per cent at Wednesday close)
Nasdaq = 18,082.21 (up 0.043 per cent at Wednesday close)
CAC40 = 7,565.62 (down 0.5 per cent at Wednesday close)
£1 = $1.33 / €1.20
US: Trump / Harris = 47.1 / 49.2 per cent
*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: The UK’s growth forecast for 2024 has been upgraded from 0.4 per cent to 1.1 per cent. The OECD’s prediction would make the UK’s GDP growth this year the second-highest in the G7 after the United States.
Business: PwC UK reported growth of 9 per cent in the 2023 financial year. Revenue reached £6.3 billion. Profits fell slightly, however, from £1.3 to £1.14 billion. Profits distributed to UK partners also fell from an average of £906,000 to an average of £862,000.
Markets: The value of Bitcoin reached a one-month high during trading yesterday. The price of the cryptocurrency increased to over $64,000. The Federal Reserve’s recent cut in interest rates may be a factor as investors seek greater returns elsewhere.
Foreign Affairs: President Putin issued a new threat over nuclear weapons yesterday evening. The Russian president said that he would consider using nuclear weapons if Russia were attacked with conventional weapons or if a nuclear power were to support another country’s attack on Russia.
Security and intelligence: Hezbollah has fired its first ever ballistic missile towards Israel yesterday. The missile was targeting the headquarters of the Israeli intelligence service but was intercepted by Israel’s air defence system. The Iran-back militant group said the missile was launched in support of the “Palestinian people in Gaza” and in “defence of Lebanon.”
Domestic politics: Zombie knives and machetes are now banned. The weapons, which are over 8 inches long, were added to the list of prohibited weapons under the Criminal Justice Act 1988. An amnesty scheme for people wishing to dispose of the weapons ended on Monday.
The Mighty Calendar
What’s happening today?
o President Biden hosts President Zelenskyy at the White House
o Sir Keir Starmer gives speech at UN General Assembly General Debate
o UN Security Council discusses situation in the Middle East
o Professor Chris Whitty appears at Covid-19 Inquiry
o Spain retail sales data (August)
o Italy business and consumer confidence data (September)
o United States GDP data (Q2 2024)
o United States unemployment data (weekly)
Lookahead to tomorrow
Israeli Prime Minister gives speech at UN General Assembly General Debate
New Scottish Conservative Party leader announced
Japan’s ruling LDP party chooses new leader to replace Prime Minister
France CPI inflation data (September)
Spain CPI inflation data (September)
Germany unemployment data (September)
United States personal income and personal spending data (August)
The Mighty Finale
🌤️Weather today
Thunder and rain in London. High of 18oC and low of 10oC. Heavy rain in Belfast. Light rain in Edinburgh.
✏️Life coaching quote of the day
“If you don’t try at anything, you can’t fail… it takes back bone to lead the life you want.” – Richard Yates, writer
Mighty takeaway: Go after your dreams, even if you risk failure, because this life isn’t a practice run. It’s the real one and the only one you’ll have.
That’s all, folks, for today! If you like what you read or don’t like it at all, let us know. And do pass this newsletter on to someone who might find it useful.
Adios!
The Mighty Memo team