Wednesday, 5 February 2025
The Mighty Headlines
Economics: US imposes maximum economic pressure on Iran
Business: Aldi to hire 1,600 more people in the UK
Markets: Palantir shares rise by nearly 24 per cent
Foreign Affairs: El Salvador offers to house US criminals
Security and intelligence: Syria seeks defence deal with Turkey
Domestic politics: New poll shows two-thirds lack confidence in UK Chancellor
The Mighty Stats
FTSE = 8,570.77 (down 0.15 per cent)
S&P500 = 6,037.88 (up 0.72 per cent)
Nasdaq = 19,654.02 (up 1.35 per cent)
CAC40 = 7,906.40 (up 0.66 per cent)
£1 = $1.25 / €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: President Trump has signed a memo imposing “maximum economic pressure on Iran”. It instructs the US Treasury and State Department to drive “Iran’s oil exports to zero” which will deprive it of funds to build a nuclear weapon. Last year, Iran’s oil exports earned it $54 billion.
Business: Aldi is set to create 1,600 new jobs this year as it expands its operations in the UK. The discount supermarket chain’s approach is in contrast to that of Sainsbury's which has announced 3,000 job cuts.
Markets: Shares in Palantir rose by nearly 24 per cent during trading yesterday. The software company is a major provider of tech services to defence agencies and it saw its Q4 2024 sales reach $828 million. Analysts had predicted sales of around $776 million.
Foreign Affairs: The President of El Salvador, Nayib Bukele, has offered to house US criminals, including those with US citizenship, in his country’s jails for a fee. US Secretary of State, Marco Rubio, said he was "profoundly grateful for the offer". El Salvador is known for its system of mega-jails and tough penal system which have attracted debate.
Security and intelligence: Syria’s interim President, Ahmad al-Sharaa, met Turkish President Recep Tayyip Erdogan yesterday. Al-Sharaa discussed plans for a strategic partnership with Turkey to “confront the security threats in the region”.
Domestic politics: According to a new poll, two-thirds of those surveyed lack confidence in the ability of the UK Chancellor, Rachel Reeves, to manage the UK economy. A little over 70 per cent also said that they have little confidence in the Chancellor's plan to grow the UK economy.
The Mighty Calendar
What’s happening today?
Prime Minister’s Questions in UK Parliament
Eurozone, UK services PMI data (January)
US, Canada, Australia trade data (December)
Company results from: QUALCOMM, Novo Nordisk, Total, Santander, Disney, News Corp, Ford, Toyota, Credit Agricole
Lookahead to tomorrow
New Zealand public holiday (national day)
Environment Questions in UK Parliament
Bank of England interest rate decision
Eurozone retail sales data (December)
Eurozone construction data (January)
US unemployment data (weekly)
Company results: Amazon, AstraZeneca, ArcelorMittal, Société Générale, Nippon Steel
The Mighty Finale
🌤️Weather today
Sunny in most parts of England. High of 10C and low of 0C. Bright sunshine in Belfast and Edinburgh. A beautiful day all round!
✏️Life coaching quote of the day
“Very little is needed to make a happy life; it is all within yourself in your way of thinking.” – Marcus Aurelius, Ancient Roman emperor and philosopher
Mighty takeaway: You are as happy as the thoughts you think.
That’s about it for today’s edition.
Adios!
The Mighty Memo team