Thursday, 31 October 2024

The Mighty Headlines

• Economics: Donald Trump says the EU will pay a “big price” economically if he wins

• Business: Russia fines Google $2.5 decillion

• Markets: Volkswagen shares fall to 24-year low

• Foreign Affairs: UN Special Envoy warns Burma is spiralling into lawlessness

• Security and intelligence: CIA Director visits Egypt and Israel today

• Domestic politics: UK Budget includes billions in tax rises and spending

The Mighty Stats

• FTSE = 8,159.63 (down 0.73 per cent at Wednesday close)

• S&P500 = 5,813.67 (down 0.33 per cent at Wednesday close)

• Nasdaq = 18,607.93 (down 0.56 per cent at Wednesday close)

• CAC40 = 7,428.36 (down 1.1 per cent at Wednesday close)

• £1 = $1.30 / €1.20

• US swing states: Trump / Harris

Michigan            47.2            48.0            Harris +0.7

Pennsylvania     48.0            47.6            Trump +0.4

Wisconsin          47.7            48.0            Harris +0.3

Arizona               48.8            46.6            Trump +2.2

N. Carolina        48.4            47.2            Trump +1.2

Georgia              48.8            47.0            Trump +1.8

Nevada               47.5            47.6            Harris +0.1

*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: Donald Trump has indicated that the EU would pay “a big price” economically if he were to win the election. At a campaign event in Pennsylvania, Trump said of the EU “They don't take our cars. They don't take our farm products. They sell millions and millions of cars in the United States. No, no, no, they are going to have to pay a big price.” He has previously indicated tariffs of up to 10 per cent on all EU goods exported to the United States.

Business: Russia has fined Google $2.5 decillion for allegedly removing pro-Government content on YouTube. The fine is worth $2.5 trillion trillion trillion and is greater than the world’s GDP which is estimated to be $110 thousand billion. Google said earlier this week that it did not believe that ongoing legal matters would have a “material adverse effect” on the company.

Markets: Volkswagen shares fell to a 24-year low yesterday after its earnings results for Q3 2024 were lower than expected. Volkswagen reported earnings of €3.34 per share, below the €3.46 expected. Shares stand at just under €90, a fall of 75 per cent from an all-time high of €355 in March 2021. The auto manufacturer faces falling demand in China and rising costs.

Foreign Affairs: The UN Special Envoy for Burma, Julie Bishop, has said that the country is spiralling into lawlessness. Bishop, a former Australian Foreign Minister, said that criminal networks of arms production, human trafficking and drug manufacture were “out of control”. She warned that the situation in Burma risks being a “forgotten crisis”.

Security and intelligence: The Director of the CIA, William Burns, is visiting Egypt and Israel today to discuss tensions in the Middle East including Iran, Lebanon and the release of Israeli hostages. Separately, the new leader of Hezbollah, Naim Qassem, has said that Hezbollah will continue fighting against Israel “no matter how long it takes” until it receives suitable ceasefire terms.

Domestic politics: The UK Chancellor, Rachel Reeves, published the Government’s Budget yesterday. The Budget includes £40 billion of tax increases and provides £22.6 billion for the NHS, £2.3 billion for schools, £2.9 billion for defence and £5 billion for housing. The independent Office for Budget Responsibility has said that the larger state may “crowd out” business activity and push living standards down by around 1 per cent.

The Mighty Calendar

What’s happening today?

• Trade Questions in UK Parliament

• Japan housing data (September)

• German retail sales data (September)

• France, Italy, Eurozone CPI inflation data (October)

• United States jobless data (weekly)

• United States personal income and spending data (September)

• Canada GDP data (August)

• South Korea trade data (October)

• China manufacturing growth data (October)

• Company results from: Apple, Amazon, Shell, Total, Samsung, Intel

Lookahead to tomorrow

• Switzerland CPI inflation data (October)

• Spain, UK, Canada, United States manufacturing data (October

• Brazil industrial production data (September)

• United States unemployment data (October)

• Company results from: ExxonMobil, Chevron, Nomura

The Mighty Finale

🌤️Weather today

Dry and misty in London. High of 16oC and low of 9oC. Cloudy and dry in Belfast and Edinburgh too.

✏️Life coaching quote of the day

“You are not stuck where you are unless you decide to be.” – Wayne Dyer, motivational speaker

Mighty takeaway: No further explanation needed about this quote!

That’s about it for today’s edition. See you tomorrow!

Adios!

The Mighty Memo team

hello@mightymemo.co.uk

Wednesday, 30 October 2024

The Mighty Headlines

• Economics: Tax rises and public spending increases expected in UK budget

• Business: BP reports Q3 profits of £1.8 billion: the lowest profits in nearly four years

• Markets: HSBC shares rise by nearly 4 per cent after positive profit news

• Foreign Affairs: Italian prosecutors uncover government hacking network

• Security and intelligence: Hezbollah elects Naim Qassem as new leader

• Domestic politics: UK Government gives funding for 2 million more NHS appointments

The Mighty Stats

• FTSE = 8,219.61 (down 0.8 per cent at Tuesday close)

• S&P500 = 5,832.92 (up 0.16 per cent at Tuesday close)

• Nasdaq = 18,712.75 (up 0.78 per cent at Tuesday close)

• CAC40 = 7,511.11 (down 0.61 per cent at Tuesday close)

• £1 = $1.30 / €1.20

• US swing states: Trump / Harris

Michigan            47.3            47.9            Harris +0.6

Pennsylvania     48.0            47.8            Trump +0.2

Wisconsin          47.8            48.0            Harris +0.2

Arizona               48.8            46.8            Trump +2.0

N. Carolina        48.5            47.1            Trump +1.4

Georgia              48.7            47.2            Trump +1.5

Nevada               47.6            47.4            Harris +0.2

*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 Budget takes place today from 12.30pm. The Chancellor, Rachel Reeves, is widely expected to increase taxes and public spending in some areas. Rishi Sunak will respond to the Budget in what will likely be his final appearance as Leader of the Opposition.

Business: BP reported its lowest quarterly profits in nearly four years yesterday. The oil company posted profits of £1.8 billion for Q3 2024. This is down by 28 per cent on last year when BP reported profits of $3.2 billion.

Markets: Shares in HSBC increased by nearly 4 per cent yesterday as the bank reported a 10 per cent increase in its quarterly profits. Profits were $8.5 billion in Q3 2024. This comes as the bank’s new CEO announced a restructuring plan that would see its operations divided into eastern and western markets. This could be a potential precursor to separating off the more profitable Asian side of the business although this is denied by HSBC.  

Foreign Affairs: Italian prosecutors have uncovered a network of computer hackers and former Italian police officers who have broken into Government databases. The network has allegedly stolen data from 800,000 people with information used to blackmail politicians and entrepreneurs. Prime Minister Meloni and President Mattarella were two of the alleged targets.

Security and intelligence: Hezbollah has elected a new leader, Sheik Naim Qassem. Qassem, 71 years old, has been deputy leader of the Islamist militant group since 1991. He has acted as coordinator of Hezbollah’s parliamentary election campaigns since 1992 and is one of the group’s main spokesmen.

Domestic politics: Ahead of the Budget, the Government announced funding to provide 2 million more NHS operations, scans and appointments a year. It also announced that it would increase the minimum wage by 77 pence to £12.21.

The Mighty Calendar

What’s happening today?

• Prime Minister’s Questions in UK Parliament

• Budget Statement in UK Parliament

• United States, France, Spain, Italy, Germany, Eurozone GDP data (Q3 2024)

• Spain, Germany CPI inflation data (October)

• Germany unemployment data (October)

• China manufacturing data (October)

• United State home sales data (weekly)

• Japan, Korea retail sales data (September)

• Bank of Japan interest rate decision

• Company results from: Microsoft, Meta, Standard Chartered, NEXT, Starbucks, eBay, Eli Lilly, Volkswagen

Lookahead to tomorrow

• Trade Questions in UK Parliament

• Japan housing data (September)

• German retail sales data (September)

• France, Italy, Eurozone CPI inflation data (October)

• United States jobless data (weekly)

• United States personal income and spending data (September)

• Canada GDP data (August)

• South Korea trade data (October)

• China manufacturing growth data (October)

• Company results from: Apple, Amazon, Shell, Total, Samsung, Intel

The Mighty Finale

🌤️Weather today

Light cloud and dry all day in London. High of 16oC and low of 9oC. Same weather in Belfast but sunny spells again in Edinburgh.

✏️Life coaching quote of the day

“If you always do what you have always done, you will always be where you are right now.” – W. Clement Stone, businessman

Mighty takeaway: You need to take new actions to achieve new things.

That’s about it for today’s edition. Thank you so much for reading to the end! 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

hello@mightymemo.co.uk

Tuesday, 29 October 2024

The Mighty Headlines

• Economics: UK Prime Minister sets out plan for tax rises

• Business: Ford posts positive Q3 results

• Markets: Oil prices fall over 6 per cent

• Foreign Affairs: Uruguay faces tight presidential election run-off

• Security and intelligence: Pentagon confirms North Korean troops to Russia

• Domestic politics: UK Government sanctions Russian public relations firms

The Mighty Stats

• FTSE = 8,285.62 (up 0.45 per cent at Monday close)

• S&P500 = 5,823.52 (up 0.27 per cent at Monday close)

• Nasdaq = 18,567.19 (up 0.26 per cent at Monday close)

• CAC40 = 7,556.94 (up 0.79 per cent at Monday close)

• £1 = $1.30 / €1.20

• US swing states: Trump / Harris

Michigan            47.3            47.6            Harris +0.3

Pennsylvania     48.0            47.6            Trump +0.4

Wisconsin          47.8            47.9            Harris +0.1

Arizona               48.7            46.8            Trump +1.9

N. Carolina        48.4            47.1            Trump +1.3

Georgia              48.6            47.0            Trump +1.6

Nevada               47.5            47.3            Harris +0.2

*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 Prime Minister has said that tax rises will be required in the Budget on Wednesday to “prevent austerity and rebuild public services”. Income tax bands are expected to be frozen while employers’ National Insurance rates are expected to increase.

Business: The Ford Motor company has posted better than expected Q3 results. Revenue came in at $43.07 billion and earnings per share came in at 49 cents versus the 47 cents expected. This compares well with Q2 results where earnings were around 47 cents per share versus 68 cents expected.

Markets: US oil prices fell by over 6 per cent during trading yesterday. This followed news at the weekend that Israel’s air strikes did not hit Iranian oil facilities. US West Texas Intermediate futures fell by 6.13 per cent – the biggest daily fall since July 2022.

Foreign Affairs: Uruguay will face a tight run-off in its presidential election next month. In the first round of voting at the weekend, centre-left candidate Yamandu Orsi came out top with 1.06 million votes. The two centre-right candidates received 1.03 million votes between them. This means their supporters need only 30,000 votes to stop Orsi from winning in the second round.

Security and intelligence: The Pentagon has said that 10,000 North Korean troops are being sent to Russia and that if this happens they will be “co-belligerents” in the war. The UN Security Council will discuss the possible deployment of North Korean troops at a meeting on Wednesday.

Domestic politics: The UK Government has placed sanctions on three Russian public relations agencies and three senior Russian employees of those companies. The Government accuses the companies of undermining Ukraine’s democracy with a “vast malign online network” known as “Doppelganger”. The network produces fake online posts, counterfeit document and deepfake material.

The Mighty Calendar

What’s happening today?

• Treasury Questions in UK Parliament

• Great British Energy Bill (Remaining Stages) in UK Parliament

• UK mortgage approvals data (September)

• United States house prices data (August)

• Australia CPI inflation data (Q3 2024)

• Company results from: Alphabet, McDonald’s, Santander, HSBC, BP, Lufthansa

Lookahead to tomorrow

• Prime Minister’s Questions in UK Parliament

• Budget Statement in UK Parliament

• United States, France, Spain, Italy, Germany, Eurozone GDP data (Q3 2024)

• Spain, Germany CPI inflation data (October)

• Germany unemployment data (October)

• China manufacturing data (October)

• United State home sales data (weekly)

• Japan, Korea retail sales data (September)

• Bank of Japan interest rate decision

• Company results from: Microsoft, Meta, Standard Chartered, NEXT, Starbucks, eBay, Eli Lilly, Volkswagen

The Mighty Finale

🌤️Weather today

Light cloud in London and dry. High of 17oC and low of 10oC. Same weather in Belfast but sunny spells in Edinburgh.

✏️Life coaching quote of the day

“Develop an attitude of gratitude, and give thanks for everything that happens to you, knowing that every step forwards is a step towards achieving something bigger and better than your current situation.” – Brian Tracy, motivational speaker

Mighty takeaway: Congratulate yourself on the small victories you achieve not just the big milestones.

That’s about it for today. Happy Tuesday and we’ll see you tomorrow. And do pass this newsletter on to someone who might find it useful.

Adios!

The Mighty Memo team

hello@mightymemo.co.uk

Monday, 28 October 2024

The Mighty Headlines

• Economics: Russia increases interest rates to 21 per cent

• Business: Panama Canal increases its profits to nearly $3.5 billion

• Markets: Nvidia briefly overtakes Apple as world’s most valuable company

• Foreign Affairs: Ukraine cancels visit of UN Secretary General

• Security and intelligence: Chinese group reportedly hacking phone of Donald Trump

• Domestic politics: UK Government announces £500 million for affordable housing

The Mighty Stats

• FTSE = 8,248.84 (down 0.25 per cent at Friday close)

• S&P 500 = 5,808.12 (down 0.030 per cent at Friday close)

• Nasdaq = 18,518.61 (up 0.56 per cent at Friday close)

• CAC40 = 7,497.54 (down 0.076 per cent at Friday close)

• £1 = $1.30 / €1.20

• UK: Con / Lab / Reform = 24 / 29 / 19 per cent

• 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

*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: Russia’s central bank has increased interest rates from 19 per cent to 21 per cent. This is the highest level since February 2003. Export revenues from oil and government spending on the military means the rate of inflation in the country is higher than the target and will average out to around 7.9 per cent this year. CNBC

Business: The Panama Canal’s profits increased by 9.5 per cent in the year to September to $3.45 billion. This is despite the Canal suffering from the third driest year on record which has reduced the water available for ships to pass through it. An average of 27 ships a day pass through the Panama Canal out of a maximum capacity of 36 ships. Reuters

Markets: Chipmaker Nvidia briefly overtook Apple as the world’s most valuable company during trading on Friday. Nvidia’s value reached $3.53 trillion on Friday, just above Apple which is worth $3.52 trillion. Nvidia’s shares have risen by 18 per cent in October alone. Reuters

Foreign Affairs: The Ukrainian Government has cancelled a visit by the UN Secretary General following intelligence that North Korean troops would be deployed in Russia against Ukraine. It is thought that North Korean troops could be deployed to the Kursk region of Russia, parts of which Ukraine has held since August. Associated Press

Security and intelligence: There are reports that Chinese hackers have attempted to infiltrate the telephones of Donald Trump, JD Vance and people working on the Harris campaign. The Washington Post has said that the attacks come from a Chinese hacking group called “Salt Typhoon” which is reportedly linked to China’s intelligence agency, the Ministry of State Security.

Domestic politics: Ahead of the UK Budget this week, the Government has said that it will be investing an additional £500 million to deliver up to 5,000 new affordable homes. The Government has said that it will also seek to protect social housing stock by reducing the discount provided by the Right to Buy scheme which allows social housing tenants to purchase their home.

The Mighty Calendar

What’s happening today?

• New Zealand public holiday (Labour Day)

• Housing Questions in UK Parliament

• General Debate on Remembrance in UK Parliament

• World Meteorological Organisation Greenhouse Gas Bulletin

• Spain retail sales data (September)

• Hong Kong trade data (September)

• Japan unemployment data (September)

• Company results from: Ford Motors

Lookahead to tomorrow

• Treasury Questions in UK Parliament

• Great British Energy Bill (Remaining Stages) in UK Parliament

• UK mortgage approvals data (September)

• United States house prices data (August)

• Australia CPI inflation data (Q3 2024)

• Company results from: Alphabet, McDonald’s, Santander, HSBC, BP, Lufthansa

The Mighty Finale

🌤️Weather today

Light cloud in London and a chance of rain for most of the day. High of 16oC and low of 13oC. Drizzle in Belfast and light could in Edinburgh.

✏️Life coaching quote of the day

“No person, no place and no thing has any power over us, for ‘we’ are the only thinkers in our mind. When we create peace and harmony and balance in our minds, we will find it in our lives.” – Louise Hay, motivational speaker

Mighty takeaway: What you think becomes your reality.

That’s all for today. Have a great week. And don’t forget to live your dreams!

Cheerio!

The Mighty Memo team

hello@mightymemo.co.uk

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

 *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 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

Thursday, 24 October 2024

The Mighty Headlines

• Economics: US home sales fall to lowest September level since 2010

• Business: Heathrow Airport reports record summer passenger numbers

• Markets: Tokyo Metro IPO sees shares increase by 44 per cent

• Foreign Affairs: South Korea warns of North Korea troops in Russia

• Security and intelligence: US confirms Russian disinformation against Walz

• Domestic politics: UK PM warns of Russian threat to global security

The Mighty Stats

• FTSE = 8,258.64 (down 0.58 per cent at Wednesday close)

• S&P500 = 5,797.42 (down 0.92 per cent at Wednesday close)

• Nasdaq = 18,276.65 (down 1.6 per cent at Wednesday close)

• CAC40 = 7,497.48 (down 0.5 per cent at Wednesday close)

• £1 = $1.29 / €1.20

• US swing states: Trump / Harris

Michigan            48               47.4            Trump +0.6

Pennsylvania     47.9            47.1            Trump +0.8

Wisconsin          48.1            48               Trump +0.1

Arizona               49.1            47.3            Trump +1.8

N. Carolina 48               47.6            Trump +0.4

Georgia              48.9            46.4            Trump +2.5

Nevada               47.8            46.9            Trump +0.9

*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: ‎In a sign of a potential slowdown in the US housing market, September home sales in the US fell to their lowest level since 2010. Around 3.8 million homes were sold at an annualised rate last month. The median value of a home also increased by 3 per cent in the year to date to $404,500. This represents the 15th annual increase in home prices.

Business: Heathrow Airport received a record 30.7 million passengers this summer. This brings the total number of people visiting the airport in the first nine months of this year to 63.1 million. The airport reported pre-tax profits of £350 million which compares to a £19 million loss at the same time last year.

Markets: The Tokyo Metro went public on the Tokyo Stock Exchange yesterday. The price of its shares increased by 45 per cent during trading. The listing represents Japan's biggest Initial Public Offering in 6 years and has reduced the national and local government‎s' stake in the company to 50 per cent.

Foreign Affairs: South Korea has warned that it may consider sending weapons to Ukraine in response to North Korea allegedly sending troops to Russia. South Korea is concerned that Russia could give North Korea military equipment in return for its troops. North Korea could then use this equipment against the South.

Security and intelligence: US intelligence has confirmed that a viral disinformation campaign against Democratic Vice-Presidential nominee, Tim Walz, has been linked to Russian disinformation operations. ‎The Office of the Director of National Intelligence also said that Russia was also spreading disinformation to sow divisions ahead of the election and may seek to encourage violence after election day.

Domestic politics: The UK Prime Minister has warned that Russia's threat to global security is accelerating. Sir Keir Starmer spoke following Russian strikes on Ukrainian ports in the Black Sea and on ships in the Black Sea. The strikes are preventing UN World Food Programme deliveries destined for Palestine and southern Africa from being made.

The Mighty Calendar

What’s happening today?

• UK Prime Minister visits Samoa for Commonwealth Heads of Government Meeting

• G20 Finance Ministers meeting, Washington D.C.

• French Government holds International Conference on Lebanon in Paris

• Cabinet Office Questions in UK Parliament

• UK Housing and Local Government Secretary addresses Local Government Association

• UK, France, Germany and Eurozone manufacturing and services growth data (October)

• United States employment data (weekly)

• Company results from: Barclays, Renault, Unilever, American Airlines, Unicredit, Fujitsu

Lookahead to tomorrow

• 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

The Mighty Finale

🌤️Weather today

Sunshine in London today! High of 17oC and low of 11oC. Light rain in Belfast and a mixture of cloud and sun in Edinburgh.

✏️Life coaching quote of the day

“People who ask confidently get more than those who are hesitant and uncertain. When you've figured out what you want to ask for, do it with certainty, boldness and confidence.” – Jack Canfield, motivational speaker

Mighty takeaway: What are you waiting to ask for? Take action to get it!

That’s about it for this Thursday. Enjoy today and make the most out of the day!

Cheerio!

The Mighty Memo team

hello@mightymemo.co.uk

Wednesday, 23 October 2024

The Mighty Headlines

• Economics: IMF raises UK’s growth forecast to 1.1 per cent

• Business: Mulberry rejects £111 million takeover bid from Frasers Group

• Markets: GM shares rise by nearly 10 per cent on revenue news

• Foreign Affairs: BRICS summit continues into second day

• Security and intelligence: Zelensky says Germany is opposing NATO membership

• Domestic politics: UK Government announces £2.2 billion loan for Ukraine

The Mighty Stats

• FTSE = 8,306.54 (down 0.14 per cent at Tuesday close)

• S&P500 = 5,851.20 (down 0.047 per cent at Tuesday close)

• Nasdaq = 18,573.13 (up 0.18 per cent at Tuesday close)

• CAC40 = 7,535.10 (down 0.015 per cent at Tuesday close)

• £1 = $1.30 / €1.20

• US swing states: Trump / Harris

• Michigan            48.4            47.2            Trump +1.2

• Pennsylvania     47.9            47.1            Trump +0.8

• Wisconsin          48.3            47.9            Trump +0.4

• Arizona               49.1            47.3            Trump +1.8

• N. Carolina        48.1            47.8            Trump +0.3

• Georgia              48.9            46.4            Trump +2.5

• Nevada               47.8            46.9            Trump +0.9

*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 International Monetary Fund has increased the UK’s growth forecast for 2024. It now expects the UK economy to grow by 1.1 per cent this year versus the 0.7 per cent it previously forecast. France is expected to growth at the same rate, while the US’s economy is expected to grow by 2.8 per cent.

Business: British luxury goods manufacturer Mulberry has rejected a takeover bid of £111 million from Frasers Group. Frasers Group, which is owned by Mike Ashley, also owns Sports Direct, House of Fraser, Evans Cycles and Flannels. Mulberry made a pre-tax loss of £34 million in the year to March.

Markets: Shares in US automobile maker General Motors rose by nearly 10 per cent during trading yesterday. This follows news that the company saw revenue of $48.76 billion in Q3 2024 versus the $44.59 billion expected.

Foreign Affairs: The second day of the BRICS summit continues in the Russian city of Kazan today. The group was founded in 2009 by Brazil, Russia, India, China and later South Africa but today includes other countries such as Iran, the UAE, Saudia Arabia, Egypt and Ethiopia. It is often referred to as a counter to the Euro-American, Western-led world. The Kremlin has called it “the largest foreign policy event ever held” by Russia.

Security and intelligence: Ukrainian President Volodymyr Zelensky has said that while some Western allies such as the UK, France and Italy are supportive of NATO membership for his country, Germany is presenting the main opposition. Zelensky said that only support from the United States could change Germany’s position.

Domestic politics: The UK Government has announced a £2.26 billion loan for Ukraine to support its military and for reconstruction. The loan will be repaid using the profits on sanctioned and immobilised Russian assets.  

The Mighty Calendar

What’s happening today?

• King Charles visits Samoa for Commonwealth Heads of Government Meeting

• Prime Minister’s Questions in UK Parliament

• Tokyo Metro goes public on the Tokyo Stock Exchange (valued at $4.6 billion)

• Bank of Canada interest rate decision

• United States home sales data

• South Korea GDP data (Q3 2024)

• Japan manufacturing and services growth data (October)

• Company Results from: Tesla, Boeing, Heathrow, IBM, Lloyds Bank, Deutsche Bank, Reckitt Benckiser, Coca-Cola, Heineken

Lookahead to tomorrow

• UK Prime Minister visits Samoa for Commonwealth Heads of Government Meeting

• G20 Finance Ministers meeting, Washington D.C.

• French Government holds International Conference on Lebanon in Paris

• Cabinet Office Questions in UK Parliament

• UK Housing and Local Government Secretary addresses Local Government Association

• UK, France, Germany and Eurozone manufacturing and services growth data (October)

• United States employment data (weekly)

• Company results from: Barclays, Renault, Unilever, American Airlines, Unicredit, Fujitsu

The Mighty Finale

🌤️Weather today

Misty in London. High of 17oC and low of 8oC. Cloudy but dry in Belfast. Sunny again in Edinburgh!

✏️Life coaching quote of the day

“No man needs sympathy because he has to work, because he has a burden to carry. Far and away the best prize that life offers is the chance to work hard at work worth doing.” – Theodore Roosevelt, former United States President

Mighty takeaway: Everyone needs to work towards a goal or dream in life. Just make sure that goal is yours rather someone’s goal.

That’s about it for today’s edition. Thank you so much for reading to the end! 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

hello@mightymemo.co.uk

P.S. Forward the Mighty Memo to 10 people, let us know and we’ll send you a Mighty Memo pen!

Don’t want to hear from us anymore? Email us at hello@mightymemo.co.uk and we’ll unsubscribe you. Trouble seeing this in your email? Read online here: https://www.mightymemo.co.uk/newsletters/uk-growth-upgraded-mulberry-rejects-takeover-bid-zelensky-on-nato-membership-and-more

Tuesday, 21 October 2024

The Mighty Headlines

• Economics: China cuts interest rates to boost growth

• Business: Volkswagen fined £5.4 million for mistreating customers

• Markets: Gold reaches new record high

• Foreign Affairs: Moldova votes for EU accession

• Security and intelligence: India and China make deal on Himalayan border

• Domestic politics: UK Government publishes consultation on future of the NHS

The Mighty Stats

• FTSE = 8,318.24 (down 0.48 per cent at Monday close)

• S&P 500 = 5,853.98 (down 0.18 per cent at Monday close)

• Nasdaq = 18,540.01 (up 0.27 per cent at Monday close)

• CAC40 = 7,536.23 (down 1.01 per cent at Monday close)

• £1 = $1.30 / €1.20

• US swing states: Trump / Harris

Michigan            48.8            47.6            Trump +1.2

Pennsylvania     47.9            47.1            Trump +0.8

Wisconsin          48               47.8            Trump +0.2

Arizona               49               47.4            Trump +1.6

N. Carolina        48.4            47.9            Trump +0.5

Georgia              48.8            47               Trump +1.8

Nevada               47.7            46.9            Trump +0.8

 *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: China’s central bank has cut interest rates in a bid to increase economic growth. The People’s Bank of China cut the one-year loan prime rate – important for businesses and consumers – from 3.35 per cent to 3.1 per cent. The five-year loan prime rate – important for mortgages – has been cut from 3.85 per cent to 3.6 per cent.

Business: Volkswagen has been fined £5.4 million for mistreating borrowers between 2017 and 2023 who were in financial difficulty. The car maker will also be required to pay £21.5 million in compensation to around 110,000 customers who took out finance to pay for vehicles.

Markets: The price of gold hit a new record high during trading yesterday to £2,097.67 per ounce. The metal has increased in value by nearly 40 per cent in 12 months and by 83 per cent in the last five years.

Foreign Affairs: Moldova has narrowly voted in favour of EU accession. Of those who voted on Sunday, 50.4 per cent voted to accede to the EU although there are concerns of Russian interference. The Presidential election was held at the same time and pro-EU incumbent Maia Sandu won 42 per cent of the vote. 50 per cent is needed to win outright and a runoff will be held on the 3 November.

Security and intelligence: India and China have reached an agreement on military patrols along their disputed Himalayan border. Clashes between the Indian and Chinese military at the border in July 2020 killed at least 20 Indian soldiers and 4 Chinese soldiers.

Domestic politics: The UK Government has launched a consultation into the future of the NHS. The Government says that responses will help to shape its future policy on healthcare with a focus on three items: shifting care from hospitals to the community, shifting care from sickness to prevention, and shifting healthcare administration from analogue to digital.

The Mighty Calendar

What’s happening today?

• Russia hosts 16th annual BRICS Summit (Brazil, Russia, India, China, South Africa)

• IMF publishes World Economic Outlook report

• Foreign Office Questions in UK Parliament

• Japan CPI inflation data (annual figures)

• UK government borrowing data (September)

• UK, Italy, Germany, France car registration data (September)

• Bank of England Governor speaks at Bloomberg Global Regulation Forum, New York

• Company results from: Verizon, 3M Company, InterContinental Hotels, Lockheed Martin, L’Oreal, General Motors

Lookahead to tomorrow

• King Charles visits Samoa for Commonwealth Heads of Government Meeting

• Prime Minister’s Questions in UK Parliament

• Tokyo Metro goes public on the Tokyo Stock Exchange (valued at $4.6 billion)

• Bank of Canada interest rate decision

• United States home sales data

• South Korea GDP data (Q3 2024)

• Japan manufacturing and services growth data (October)

• Company Results from: Tesla, Boeing, Heathrow, IBM, Lloyds Bank, Deutsche Bank, Reckitt Benckiser, Coca-Cola, Heineken

The Mighty Finale

🌤️Weather today

Dry and a bit cloudy in London. High of 17oC and low of 8oC. Same weather in Belfast but sunshine in Edinburgh. Lucky Edinburgh!

✏️Life coaching quote of the day

“Be thankful for what you have; you'll end up having more. If you concentrate on what you don't have, you will never, ever have enough.” – Oprah Winfrey

Mighty takeaway: Happiness is having what you already have. It’s difficult but it’s true.

That’s about it for this Tuesday. We hope you enjoy today and we’ll see you again tomorrow.

Cheerio!

The Mighty Memo team

hello@mightymemo.co.uk

P.S. Forward the Mighty Memo to 10 people, let us know and we’ll send you a Mighty Memo pen!

Don’t want to hear from us anymore? Email us at hello@mightymemo.co.uk and we’ll unsubscribe you. Trouble seeing this in your email? Read online here: https://www.mightymemo.co.uk/newsletters/china-cuts-interest-rates-moldova-votes-for-eu-accession-uk-health-service-consultation

Monday, 21 October 2024

The Mighty Headlines

·       Economics: US budget deficit reaches $1.8 trillion

·       Business: Boeing reaches tentative 35 per cent pay rise for striking workers

·       Markets: Netflix share price increases by 11 per cent on sales results

·       Foreign Affairs: Ex-army general sworn in as Indonesia’s new President

·       Security and intelligence: US warns Israel over operations in Lebanon

·       Domestic politics: UK Foreign Secretary visits China, Indonesia and South Korea

The Mighty Stats

·       FTSE = 8,358.25 (down 0.32 per cent at Friday close)

·       S&P 500 = 5,864.67 (up 0.40 per cent at Friday close)

·       Nasdaq = 18,489.55 (up 0.63 per cent at Friday close)

·       CAC40 = 7,613.05 (up 0.39 per cent at Friday close)

·       £1 = $1.30 / €1.20

·       UK: Con / Lab / Reform = 25 / 28 / 20 per cent

·       US swing states: Trump / Harris

·       Michigan     48.8       47.6       Trump +1.2

·       Pennsylvania            48.1       47.4       Trump +0.7

·       Wisconsin   48          47.8       Trump +0.2

·       Arizona                    49          47.4       Trump +1.6

·       North Carolina         48.4       47.9       Trump +0.5

·       Georgia       48.8       47          Trump +1.8

·       Nevada                     47.7       46.9       Trump +0.8

*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 United States budget deficit stands at $1.8 trillion, an increase of 8 per cent from the previous year. United States Government debt has increased to $35.7 trillion and interest payments stand at $1.16 trillion. The IMF meeting this week will focus on countries’ increasing debt levels and the threat these pose to economic stability.

Business: Boeing is moving closer towards resolving an ongoing strike by its workers after the union said on Saturday it would present a 35 per cent wage increase to its workers on Wednesday. Boeing is the US’s largest exporter and contributes an estimated $79 billion to the US economy. The strikes began on the 13 September.

Markets: Shares in Netflix rose by 11 per cent by end of trading of Friday and by 42 per cent year to date. The streaming company’s revenue rose by 15 per cent over the year to $9.8 billion – exceeding expectations. Netflix added 5 million subscribers in Q3 2024.

Foreign Affairs: Prabowo Subianto was sworn in as Indonesia’s president yesterday. Subianto, 73, is a former military general and defence minister. He stood on a platform of continuity, taking over from the popular former President Jao Widodo. Indonesia, with a population of 282 million is the world’s most populous Muslim-majority country.

Security and intelligence: The United States Defence Secretary, Lloyd Austin, has said that Israel should scale back its operations in Lebanon. Austin said the number of civilian casualties was “far too high”. Last week, Austin and Secretary of State Anthony Blinken, told Israel to improve the humanitarian situation in Gaza or face restrictions on US military aid.

Domestic politics: The UK Foreign Secretary, David Lammy, visited Indonesia on Sunday before travelling to South Korea. On Friday, Lammy visited China where he said that “more diplomacy” was needed with China “not less”.

The Mighty Calendar

What’s happening today?

• Commonwealth Heads of Government Meeting begins, Samoa

• UK Foreign Secretary visits South Korea

• IMF and World Bank annual meetings begin, Washington D.C. (ends Saturday)

• Home Office Questions in UK Parliament

• Employment Rights Bill introduced to UK Parliament (Second Reading)

• Germany and South Korea PPI inflation data (September)

• UK house price data (October)

• New Zealand trade data (September)

Lookahead to tomorrow

• Russia hosts 16th annual BRICS Summit (Brazil, Russia, India, China, South Africa)

• IMF publishes World Economic Outlook report

• Foreign Office Questions in UK Parliament

• Japan CPI inflation data (annual figures)

• UK government borrowing data (September)

• UK, Italy, Germany, France car registration data (September)

• Bank of England Governor speaks at Bloomberg Global Regulation Forum, New York

• Company results from: Verizon, 3M Company, InterContinental Hotels, Lockheed Martin, L’Oreal, General Motors

The Mighty Finale

🌤️Weather today

Dry all day in London. High of 15oC and low of 7oC. Patchy rain in Belfast and Edinburgh.

✏️Life coaching quote of the day

“The most important single factor that guarantees good results, day in, day out, all the months and years of our lives, is a healthy attitude…Our attitude tells the world what we expect in return. If it’s a cheerful, expectant attitude, it says to everyone with whom we come in contact that we expect the best in our dealings with our world. You see, we tend to live up to our expectations. And others give to us, as far as their attitudes are concerned, what we expect.” – Earl Nightingale, motivational speaker

Mighty takeaway: We’ve included an extra-long life coaching quote today but we think you’ll agree it’s worth the extra detail. Your attitude in life really is the key to your happiness and success.

That’s it for this Monday. Thank you for reading today and we hope you have a happy and successful week.

Cheerio!

The Mighty Memo team

hello@mightymemo.co.uk

P.S. Forward the Mighty Memo to 10 people, let us know and we’ll send you a Mighty Memo pen!

Don’t want to hear from us anymore? Email us at hello@mightymemo.co.uk and we’ll unsubscribe you. Trouble seeing this in your email? Read online here: https://www.mightymemo.co.uk/newsletters/us-budget-deficit-boeing-workers-deal-indonesias-new-president

Friday, 18 October 2024

TO:                  Mighty Memo Readers

FROM:             Mighty Memo Editorial Department

SUBJECT:        Additional Polling Information

You will see that we have included seven US states in the polling section of today’s Mighty Memo. These are the key swing states that could decide the US presidential election. The other 43 states roughly vote the same way in each election. We hope this information will help you to better understand the presidential race. If you have any feedback on this or any other part of the Mighty Memo, please contact us at hello@mightymemo.co.uk.

The Mighty Headlines

• Economics: ECB cuts interest rates to 3.25 per cent

• Business: Amazon invests in nuclear energy following Google and Microsoft

• Markets: World’s largest chipmaker posts record sales of over $10 billion

• Foreign Affairs: EU leaders to consider “new ways” to deal with migration

• Security and intelligence: US uses B-2 stealth bombers against Houthis in Yemen

• Domestic politics: Badenoch wins snap poll following TV debate with Jenrick

The Mighty Stats

• FTSE = 8,385.13 (up 0.67 per cent at Thursday close)

• S&P500 = 5,841.47 (down 0.017 per cent at Thursday close)

• Nasdaq = 18,373.61 (up 0.036 per cent at Thursday close)

• CAC40 = 7,583.73 (up 1.22 per cent at Thursday close)

• £1 = $1.30 / €1.20

• US swing states: Trump / Harris

• Michigan           48.3       47.4       Trump +0.9

• Pennsylvania     47.9       47.4       Trump +0.5

• Wisconsin          47.9       47.8       Trump +0.1

• Arizona              48.4       47.3      Trump +1.1

• North Carolina 48.5       47.5      Trump +1.0

• Georgia              48.7       47.8      Trump +0.9

• Nevada               47.7       47.2      Trump +0.5

*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 European Central Bank (ECB) has cut interest rates from 3.5 per cent to 3.25 per cent. President of the ECB Christine Lagarde, cited a fall inflation and weakening business and consumer activity as factors in the decision.

Business: Amazon has announced that it is investing in nuclear energy to power its data centres. The investment in US nuclear company X-energy comes after Google and Microsoft announced similar investments in nuclear energy. The size of Amazon’s investment has not been made public.

Markets:  The world’s largest contract chipmaker, TSMC, reported record sales of $10.1 billion between July and September. Its share price rose by more than 11 per cent on the news. The sales figures are a 54 per cent increase from the same period last year and are driven by demand from AI. As a contract chipmaker, TSMC manufactures chips designed by other companies.

Foreign Affairs: EU leaders agreed to consider “new ways to prevent and counter” irregular migration at the European Council summit yesterday. This effectively gives political approval to consider transferring rejected asylum applicants to locations outside of the EU.  

Security and intelligence: The United States sent B-2 stealth bombers to hit the Houthi’s underground bunkers in Yemen yesterday. The Houthis, an Islamist paramilitary organisation backed by Iran, have been attacking shipping in the Red Sea since the outbreak of the Israel-Gaza conflict. US Defence Secretary, Lloyd Austin, said the strikes were “a unique demonstration of the United States’ ability to target facilities that our adversaries seek to keep out of reach”.

Domestic politics: The two contenders for the leadership of the Conservative Party, Robert Jenrick and Kemi Badenoch, participated in a televised debate yesterday evening. Following questions on prisons, the NHS and the ECHR among others, a poll of audience members indicated greater support for Badenoch than Jenrick.

The Mighty Calendar

What’s happening today?

• The King and Queen begin a tour of Australia

• NATO Defence Ministers meet in Brussels ends

• European Council Meeting ends

• UK retail sales data (September)

• United States housing data (September)

Lookahead to the weekend

Saturday

• G7 Defence Ministers meeting, Naples (end Sunday)

• QIPCO Horse Racing Champions Day

• NASA space telescope lecture, Royal Institution, London

Sunday

• United States Grand Prix

• NFL London Edition: Jacksonville Jaguars vs. New England Patriots

• Amsterdam Marathon

The Mighty Finale

🌤️Weather today

Fog in London (like a Victorian novel!). High of 17oC and low of 13oC. Heavy rain in Belfast. Sunny in Edinburgh.

✏️Life coaching quote of the day

“Every time you are tempted to react in the same old way, ask if you want to be a prisoner of the past or a pioneer of the future.” – Deepak Chopra, spiritual writer

Mighty takeaway: Changing your future requires you to change your habits and actions today.

That’s it for this week. We hope you have a good weekend and see you on Monday. 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

hello@mightymemo.co.uk

Thursday, 17 October 2024

The Mighty Headlines

• Economics: UK house prices rise by 2.8 per cent

• Business: BMW says that ban on petrol cars by 2035 “no longer realistic”

• Markets: Morgan Stanley shares reach record high

• Foreign Affairs: European Council meeting begins with migration high on the agenda

• Security and intelligence: US warns of North Korea’s military support for Russia

• Domestic politics: IMF warning on the UK’s national debt ahead of UK Budget

The Mighty Stats

• FTSE = 8,329.07 (up 0.97 per cent at Wednesday close)

• S&P500 = 5,842.47 (up 0.47 per cent at Wednesday close)

• Nasdaq = 18,367.08 (up 0.28 per cent at Wednesday close)

• CAC40 = 7,492.00 (down 0.4 per cent at Wednesday close)

• £1 = $1.30 / €1.20

• US: Trump / Harris = 47.5 / 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: UK house prices rose by 2.8 per cent in the 12 months to August. The average house price in the UK now stands at £293,000. This comes as inflation fell from 2.2 per cent in August to 1.7 per cent in September – a fall which may encourage the Bank of England to cut interest rates further.

Business: The Chairman of BMW, Oliver Zipse, has said that European regulators should reconsider the 2035 ban on petrol and diesel vehicles. Zipse said that the ban was “no longer realistic” and that continuing with it would risk manufacturers relying on Chinese batteries. European manufacturers are behind China in developing affordable electric cars.

Markets: Shares in US bank Morgan Stanley rose by 7.6 per cent during morning trading yesterday and the bank’s stock reached a record high of $120.80. This came as Morgan Stanley’s profits exceeded expectations at $1.88 per share. Morgan Stanley’s investment banking revenue rose by 56 per cent in Q3 2024.

Foreign Affairs: The European Council summit of EU heads of state and government begins today. The issues of Ukraine, the Middle East, EU competitiveness and migration are on the agenda. Migration is likely to dominate discussions, however, particularly on outsourcing asylum procedures and making deportations quicker.

Security and intelligence: The United States Deputy Secretary of State, Kurt Campbell, is warning that North Korea’s increasing military support for Russia and its war on Ukraine was “creating further instability in Europe.” Ukrainian President, Volodymyr Zelensky, has previously said that North Korea was sending troops to fight against Ukraine.

Domestic politics: The International Monetary Fund has said that debt risks in the UK are “elevated” and that the lack of a credible plan to deal with the national debt could “trigger adverse market reactions”. This comes ahead of the UK Budget on the 30th October in which the Chancellor is widely expected to raise taxes.

The Mighty Calendar

What’s happening today?

• NATO Defence Ministers meet in Brussels (ends Friday)

• European Central Bank interest rate decision

• European Council Meeting (ends Friday)

• Culture, Media and Sport Questions in the UK Parliament

• Robert Jenrick and Kemi Badenoch participate in GB News television debate

• Eurozone and Japan CPI inflation data (September)

• United States unemployment data (weekly)

• United States and China retail sales data (September)

• United States and China industrial production data (September)

• China GDP data (Q3 2024)

Lookahead to tomorrow

• The King and Queen begin a tour of Australia

• NATO Defence Ministers meet in Brussels ends

• European Council Meeting ends

• UK retail sales data (September)

• United States housing data (September)

The Mighty Finale

🌤️Weather today

Sunny and dry in London. High of 18oC and low of 8oC. Rain in Belfast from mid-morning onwards. Sunny and dry in Edinburgh.

✏️Life coaching quote of the day

“Your actions reveal how badly you want something. If you keep saying something is a priority but you never act on it, then you don’t really want it. It’s time to have an honest conversation with yourself. Your actions reveal your true motivations.” – James Clear, writer

Mighty takeaway: If you never take action on your dreams, do you really want that dream to become a reality?

That’s it 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

hello@mightymemo.co.uk

Wednesday, 16 October 2024

The Mighty Headlines

• Economics: Donald Trump says tariffs will help the US economy

• Business: LVMH sales fall in Q3 2024

• Markets: Shares in chipmakers ASML and Nvidia fall

• Foreign Affairs: Fatal shootings in Sweden double in a year

• Security and intelligence: Hezbollah calls for action against Israel and a ceasefire

• Domestic politics: Hereditary Peers Bill introduced in the UK House of Commons

The Mighty Stats

• FTSE = 8,249.28 (down 0.52 per cent at Tuesday close)

• S&P500 = 5,815.26 (down 0.76 per cent at Tuesday close)

• Nasdaq = 18,315.59 (down 1.01 per cent at Tuesday close)

• CAC40 = 7,521.97 (down 1.05 per cent at Tuesday close)

• £1 = $1.31 / €1.20

• US: Trump / Harris = 47.6 / 48.9 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: In a wide-ranging interview yesterday evening, Donald Trump defended his policy on tariffs saying they would protect companies in the United States from competition. He also said that tariffs would raise money for the Government and incentivise foreign companies to open factories in the United States. Last week, Donald Trump suggested he could impose tariffs of over 200 per cent on Mexican vehicle imports.

Business: Luxury fashion retailer, LVMH, saw revenues drop by 3 per cent in Q3 2024. It posted sales of €19.1 billion. Revenue growth of 1 per cent had been expected. The fashion and leather goods division, which makes up nearly half of LVMH’s revenue, saw sales fall by 5 per cent.

Markets: Shares in semiconductor equipment manufacturer, ASML, fell by 15.6 per cent yesterday following a poor set of company results. Net orders for the Dutch company in Q3 2024 came in at €2.6 billion – far below the €5.6 billion that had been estimated. Shares in chipmakers Nvidia and Broadcom fell by 4 per cent on the news.

Foreign Affairs: Fatal shootings in Sweden have more than doubled in a year, with an average of one shooting every day for every 10 million residents. The shootings are linked to a rise in gang-related violence in the country.

Security and intelligence: The Deputy Chief of Hezbollah, Naim Qassem, has said that the group aims to inflict pain on Israel and that it has a right to attack anywhere in Israel. Qassem also added that “the solution is a ceasefire”. Separately, the Israeli Government said that it would listen to the United States in conducting its military campaigns but that it would make “final decisions based on our national interests.”

Domestic politics: The House of Lords (Hereditary Peers) Bill had its Second Reading in the House of Commons yesterday. The Bill will remove the right of the 92 remaining hereditary peers to sit and vote in the House of Lords. The Government says it is a “long-overdue reform.”

The Mighty Calendar

What’s happening today?

• EU-Gulf Cooperation Council summit, Brussels

• Hong Kong Chief Executive delivers annual Policy Address

• Prime Minister’s Questions in UK Parliament

• Assisted Dying Bill introduced to the UK Parliament

• UK CPI, RPI and PPI inflation data (September)

• Canada housing starts data (September)

• United States trade data (September)

• Japan trade data (September)

Lookahead to tomorrow

• NATO Defence Ministers meet in Brussels (ends Friday)

• European Central Bank interest rate decision

• European Council Meeting (ends Friday)

• Robert Jenrick and Kemi Badenoch participate in GB News television debate

• Eurozone and Japan CPI inflation data (September)

• United States unemployment data (weekly)

• United States and China retail sales data (September)

• United States and China industrial production data (September)

• China GDP data (Q3 2024)

The Mighty Finale

🌤️Weather today

Sunny and largely dry in London. High of 21oC and low of 15oC. Light rain in Belfast. Heavy rain in Edinburgh.

✏️Life coaching quote of the day

“Let others lead small lives, but not you…let others argue over small things, but not you…let others cry over small hurts, but not you…let others leave their future in someone else’s hands but not you.” – Jim Rohn, motivational speaker

Mighty takeaway: Live your life in your own way and live a life that has meaning for you.

That’s about it for this Wednesday. 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

hello@mightymemo.co.uk

Tuesday, 15 October 2024

The Mighty Headlines

• Economics: China’s export growth slows down

• Business: Google signs deal with nuclear power company

• Markets: S&P 500 reaches record high

• Foreign Affairs: Poland suspends right to asylum

• Security and intelligence: China performs military exercises around Taiwan

• Domestic politics: UK PM downplays capital gains tax increases

The Mighty Stats

• FTSE = 8,292.66 (up 0.47 per cent at Monday close)

• S&P500 = 5,859.85 (up 0.77 per cent at Monday close)

• Nasdaq = 18,502.69 (up 0.87 per cent at Monday close)

• CAC40 = 7,602.06 (up 0.32 per cent at Monday close)

• £1 = $1.31 / €1.20

• UK: Con / Lab / Reform = 24 / 29 / 19 per cent

• US: Trump / Harris = 47.2 / 48.9 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: China’s exports rose by 2.4 per cent in September, significantly lower than the 8.7 per cent increase in August. Exports were expected to increase by around 6 per cent last month. US and EU tariffs may be having a role in depressing China’s exports.

Business: Google has signed a deal with a nuclear power company to satisfy the energy demands of its data centres and artificial intelligence programmes. The deal will see Google buy energy from small modular reactors produced by Kairos. The reactors will go live in 2035.

Markets: The S&P 500 reached a new record high during trading yesterday. Monday also marked two years of a bull market for the index – where stock prices increase in value over a prolonged period of time. The stock index has risen by 23 per cent this year and by 63 per cent since October 2022.

Foreign Affairs: The Polish Government is temporarily suspending the right of people to claim asylum in the country. The number of people coming to Poland from the Middle East and Africa has increased markedly since 2021. The Polish Government claims that Belarus and Russia are organising a mass migration to Poland to destabilise the EU. The European Commission has rebuked the Polish Government over its decision.

Security and intelligence: China deployed 125 aircraft as well as aircraft carriers and ships in a military exercise around Taiwan on Monday. China’s Taiwan Affairs Office said “This is a resolute punishment for [the President of Taiwan] Lai Ching-te’s continuous fabrication of ’Taiwan independence’ nonsense.” President Lai Ching-te spoke last week of Taiwan’s independence from China.

Domestic politics: The Prime Minister has said speculation that capital gains tax could be increased to 39 per cent at the Budget were “wide of the mark”. Sir Keir Starmer was speaking after the Government’s International Investment Summit at which the Chancellor, Rachel Reeves, launched a new £27.8 billion National Wealth Fund to deliver “impactful investments” in the UK.

The Mighty Calendar

What’s happening today?

• Pakistan hosts the Shanghai Cooperation Organisation Summit

• Health Questions in UK Parliament

• UK Hereditary Peers Bill introduced to the UK Parliament

• UK unemployment data (August)

• Canada, France and Spain CPI inflation data (September)

• Eurozone industrial production data (August)

• India trade data (September)

Lookahead to tomorrow

• EU-Gulf Cooperation Council summit, Brussels

• Hong Kong Chief Executive delivers annual Policy Address

• Prime Minister’s Questions in UK Parliament

• Assisted Dying Bill introduced to the UK Parliament

• UK CPI, RPI and PPI inflation data (September)

• Canada housing starts data (September)

• United States trade data (September)

• Japan trade data (September)

The Mighty Finale

🌤️Weather today

Light cloud but dry in London. High of 18oC and low of 14oC. Light rain in Belfast. Sunny spells in Edinburgh.

✏️Life coaching quote of the day

“A quitter never wins and a winner never quits.” – Napoleon Hill, motivational speaker and writer

Mighty takeaway: Don’t give up on your dreams and goals. Keep on persisting and eventually you’ll arrive at your destination.

That’s about it for this Tuesday. Thank you for reading to the end. 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

hello@mightymemo.co.uk

Monday, 14 October 2024

The Mighty Headlines

• Economics: China announces further economic stimulus measures

• Business: Boeing’s credit rating may be downgraded because of strikes

• Markets: Traders look to earnings this week for information on consumer spending

• Foreign Affairs: Taiwan reports Chinese aircraft carriers nearby

• Security and intelligence: US to send advanced missile defence system to Israel

• Domestic politics: UK Investment Summit taking place today

The Mighty Stats

• FTSE = 8,253.65 (up 0.19 per cent at Friday close)

• S&P500 = 5,815.03 (up 0.61 per cent at Friday close)

• Nasdaq = 18,342.94 (up 0.33 per cent at Friday close)

• CAC40 = 7,577.89 (up 0.48 per cent at Friday close)

• £1 = $1.31 / €1.19

• UK: Con / Lab / Reform = 27 / 27 / 21 per cent

• US: Trump / Harris = 47.2 / 48.9 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: On Saturday, the Chinese Finance Minister Lan Foan announced further stimulus measures to reverse the country’s falling economic growth. Without providing specific figures, the Government said that it would provide capital to state-owned banks, provide further support to local government, offer subsidies to people on low incomes and support the property market.

Business: Aircraft manufacturer Boeing faces a credit rating downgrade after battling with striking workers over the past month. The strike involves 13,000 people and began on the 13th September. A 25 per cent pay rise was rejected by union members last month and a 30 per cent pay rise was rejected last week. Boeing could be losing $100 million a day in revenue and Standard and Poor’s now says it might downgrade the company because of the lost cash.

Markets: Investors are looking ahead to the earnings of major companies which will be published this week. Earnings from American Express, Netflix, Procter & Gamble and United Airlines as well as retail sales data on Thursday are expected to give an indication of the state of consumer spending in the United States.

Foreign Affairs: Taiwan’s defence ministry said yesterday that a Chinese aircraft carrier group was sailing south of the island. The Chinese Army’s Eastern Theatre Command, which covers Taiwan, also published a video online saying that it was “fully prepared” and “biding one’s time before battle”. Taiwan’s President made a series of remarks last week about his country’s independence from China which are likely to have antagonised China.

Security and intelligence: The United States Government announced yesterday that it would send an advanced missile defence system and associated troops to Israel to support Israeli air defences against Iranian attack. Reacting to the news, the Iranian Foreign Minister said that there were “no red lines in defending our people and interests”.

Domestic politics: The UK Government is holding an International Investment Summit today. It says the Summit will bring business leaders “from around the globe” to boost investment and growth. Ahead of the Summit, the Government launched an Industrial Strategy and confirmed that the CEO of Microsoft UK, Clare Barclay, would chair a new Industrial Strategy Council.

The Mighty Calendar

What’s happening today?

Canada Thanksgiving public holiday

Japan National Sport Day public holiday

Defence Questions in UK Parliament

Terrorism Bill (Second Reading) in UK Parliament

UK Inquiry into the Novichok Poisoning of Dawn Sturgess begins

UK Foreign Secretary meets EU Foreign Ministers in Luxembourg

United States budget data (September)

India CPI inflation data (September)

South Korea trade data (September)

Lookahead to tomorrow

Pakistan hosts the Shanghai Cooperation Organisation Summit

Health Questions in UK Parliament

UK Hereditary Peers Bill introduced to the UK Parliament

UK unemployment data (August)

Canada, France and Spain CPI inflation data (September)

Eurozone industrial production data (August)

India trade data (September)

The Mighty Finale

🌤️Weather today

Dry from mid-afternoon in London. High of 13oC and low of 9oC. Dry all day and mostly sunny in Belfast. Dry and sunny in Edinburgh.

✏️Life coaching quote of the day

“Learn to enjoy every minute of your life. Be happy now. Don't wait for something outside of yourself to make you happy in the future. Think how really precious is the time you have to spend, whether it's at work or with your family. Every minute should be enjoyed and savoured.” – Earl Nightingale, motivational speaker

Mighty takeaway: Enjoy today – you’ll never get it back.

That’s it 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

hello@mightymemo.co.uk

Friday, 11 October 2024

The Mighty Headlines

• Economics: US inflation falls to 2.4 per cent

• Business: Harvest in the UK set to be the second worst on record

• Markets: GSK shares climb on drug lawsuit payout

• Foreign Affairs: Taiwan President says China has “no right to represent Taiwan”

• Security and intelligence: Israel’s Security Cabinet discusses Iran response

• Domestic politics: New Employment Rights Bill won’t be law until 2026

The Mighty Stats

• FTSE = 8,237.73 (down 0.073 per cent at Thursday close)

• S&P500 = 5,780.05 (down 0.21 per cent at Thursday close)

• Nasdaq = 18,282.05 (down 0.052 per cent at Thursday close)

• CAC40 = 7,541.59 (down 0.24 per cent at Thursday close)

• £1 = $1.31 / €1.19

• US: Trump / Harris = 47.1 / 49.1 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 rate of inflation in the United States stood at 2.4 per cent in the year to September. This is down slightly on the 2.5 per cent rate in the year to August. On a monthly basis, inflation increased by 0.2 per cent in September, driven by rising food and housing costs.

Business: The harvest in the UK this year is set to be the second worst on record. Heavy rain and cold weather between autumn 2023 and summer 2024 mean that the wheat harvest is down by 21 per cent. Farmers could lose around £600 million on wheat, barley, oats and oilseed rape.

Markets: Shares in pharmaceutical company GSK climbed by over 3 per cent during trading yesterday. This comes after it agreed to pay $2.2 billion to settle legal claims that its heartburn drug, Zantac, caused cancer. Around 80,000 claimants are involved in the lawsuit which GSK has settled without admitting wrongdoing. Zantac was first approved for sale in the US in 1983 and was discontinued in 2020.

Foreign Affairs: In a speech marking Taiwan’s national day, President Lai Ching-te has said that China has “no right to represent Taiwan”. He added, however, that Taiwan would be willing to work with China on issues such as climate change, health and regional security. Anticipating that the remarks could antagonise China, the US Government said that China should not use the speech as a pretext for military activity against Taiwan.

Security and intelligence: Israel’s Security Cabinet met yesterday evening to discuss the country’s response to Iran’s military strike. It was expected to authorise the Prime Minister and Defence Secretary to initiate a response at their discretion. Israeli Defence Minister, Yoav Gallant, previously warned that Israel’s response would be “lethal, precise and above all surprising”.

Domestic politics: The UK Government introduced its Employment Rights Bill in Parliament yesterday but it is unlikely to become law before 2026 because of extensive scrutiny from business leaders and lawmakers. The Bill includes enhanced sick pay, extends paternity pay and protection from unfair dismissal and bans “exploitative” zero hours contracts.

The Mighty Calendar

What’s happening today?

• Hong Kong public holiday

• Yom Kippur (holiest day in the Jewish calendar)

• Nobel Peace Prize winner announced

• UK construction data (August)

• UK GDP data (August)

• UK trade data (August)

• UK industrial production data (August)

• United States PPI inflation data (September)

• Canada employment data (September)

Lookahead to the weekend

Saturday

• 100th day anniversary of Labour Government in the UK

• America’s Cup Match begins, Barcelona

Sunday

o   World Health Summit begins in Berlin

o   NFL London Edition: Jacksonville Jaguars vs. Chicago Bears

o   ICC Women’s T20 Cricket World Cup: England vs. Scotland

The Mighty Finale

🌤️Weather today

Sunny and dry in London. High of 14oC and low of 10oC. Clear skies in Belfast before turning cloudy in the early evening. Rain in Edinburgh.

✏️Life coaching quote of the day

“Most of us spend too much time on what is urgent and not enough time on what is important.” – Stephen Covey, writer

Mighty takeaway: What are you prioritising that you shouldn’t be and what do you want to prioritise instead? Make a decision to prioritise what is truly important to you.

That’s it for today and for this week. See you again on Monday! 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

hello@mightymemo.co.uk

Thursday, 10 October 2024

The Mighty Headlines

• Economics: Germany heading for second year of economic recession

• Business: X operating again in Brazil

• Markets: US stocks rise on higher tech valuations

• Foreign Affairs: EU marks Hungary out as a “risk” to EU security

• Security and intelligence: North Korea blocks roads and railways to South Korea

• Domestic politics: Badenoch and Jenrick reach final Conservative leadership vote

The Mighty Stats

• FTSE = 8,243.74 (up 0.65 per cent at Wednesday close)

• S&P500 = 5,792.04 (up 0.71 per cent at Wednesday close)

• Nasdaq = 18,291.62 (up 0.6 per cent at Wednesday close)

• CAC40 = 7,560.09 (up 0.52 per cent at Wednesday close)

• £1 = $1.31 / €1.19

• US: Trump / Harris = 47.2 / 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: Germany is likely to suffer from a second successive year of economic contraction in 2024. Germany’s Economy Minister, Robert Habeck, said yesterday that the country’s economy is likely to decrease by 0.2 per cent this year. Growth of 0.3 per cent had been expected. In 2023, the German economy shrank by 0.3 per cent.

Business: X is operating again in Brazil after being banned from the country by a Supreme Court Justice earlier this year. Justice Alexandre de Moraes banned X in August after it refused to remove certain user accounts and pay outstanding fines. X has now complied with de Morae’s requests.

Markets: US stock markets rose again yesterday, driven by the rising valuations of tech companies. Amazon and Apple each rose by 1 per cent and the S&P 500 reached a new high during trading.

Foreign Affairs: The European Commission President, Ursula von der Leyen, has said that Hungary’s close relationship with Russia and China is putting the EU’s security at risk. Von der Leyen pointed to Hungary’s reluctant support for Ukraine, its decision to ease visa restrictions for Russians and its decision to allow police officers from China to patrol streets in Hungary with the Hungarian police.

Security and intelligence: North Korea is set to block all road and railway networks into South Korea. The army also announced that defensive structures would be reinforced. The General Staff said this was necessary because “the touch-and-go of war is ever-escalating.” Tensions between North and South are at their highest level in years, with both sides conducting more regular military drills.

Domestic politics: Kemi Badenoch and Robert Jenrick have made it to the final round of the Conservative Party leadership election. Badenoch, a former Business Secretary, received 41 votes. Jenrick, a former Housing Secretary, received 40 votes. Conservative Party members will now have the final say, with the victor announced on the 2 November.

The Mighty Calendar

What’s happening today?

• President Biden travels to Germany

• French budget announced

• Transport Questions in UK Parliament

• General Debate on Sport in UK Parliament

• Boris Johnson’s memoirs are published

• Italy industrial production data (August)

• United States CPI inflation data (September)

• South Korea interest data decision

Lookahead to tomorrow

• Hong Kong public holiday

• Yom Kippur (holiest day in the Jewish calendar)

• President Biden meets German Chancellor Olaf Scholz

• Nobel Peace Prize winner announced

• UK construction data (August)

• UK GDP data (August)

• UK trade data (August)

• UK industrial production data (August)

• United States PPI inflation data (September)

• Canada employment data (September)

The Mighty Finale

🌤️Weather today

Light cloud in London and largely dry. High of 12oC and low of 3oC. Sunny in Belfast and Edinburgh.

✏️Life coaching quote of the day

“You are today where your thoughts have brought you; you will be tomorrow where you thoughts take you.” James Allen, author

Mighty takeaway: Do you want to change your future? Change your thoughts and attitude. If you don’t change anything, you’ll stay you exactly where you are.

That’s all for this Thursday. 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

hello@mightymemo.co.uk

Wednesday, 9 October 2024

The Mighty Headlines

• Economics: China puts provisional tariffs on EU brandy

• Business: US states sue TikTok over children’s mental health

• Markets: Oil falls while technology shares rise

• Foreign Affairs: Pakistan’s former PM charged with attempted murder

• Security and intelligence: MI5 warns of Russian spy plots

• Domestic politics: James Cleverly leads Conservative leadership election

The Mighty Stats

• FTSE = 8,190.61 (down 1.36 per cent at Tuesday close)

• S&P500 = 5,751.13 (up 0.97 per cent at Tuesday close)

• Nasdaq = 18,182.92 (up 1.45 per cent at Tuesday close)

• CAC40 = 7,521.32 (down 0.72 per cent at Tuesday close)

• £1 = $1.31 / €1.19

• US: Trump / Harris = 47.2 / 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: China is putting provisional tariffs on EU brandy of up to 39 per cent. This comes after the EU agreed earlier this year to levy tariffs of up to 35 per cent on Chinese electric vehicles. Both China and the EU accuse each other of unfairly subsiding or pricing their goods.

Business: More than a dozen US states are suing TikTok, claiming that the platform is addictive and harming children’s mental health. Cari Fais, acting director of New Jersey’s Division of Consumer Affairs said, “The ugly truth is that TikTok misrepresents its platform as being safe for young users when, in reality, it is designed to turn a generation of children into social media addicts for TikTok’s profit.” TikTok has not yet responded to these comments.

Markets: Oil prices fell by more than 4 per cent yesterday as investors saw the threat of an immediate retaliatory strike by Israel on Iran diminishing. Technology shares also increased in value with Nvidia up 4 per cent and Tesla and Microsoft up 1 per cent.

Foreign Affairs: Pakistan’s former Prime Minister, Imran Khan, has been charged with attempted murder. Khan, who is currently in prison, has been accused of inciting the violence that led to the death of a policeman during protests in Islamabad at the weekend.

Security and intelligence: The head of MI5, Ken McCallum, has warned of the threat that the Russian security services (GRU) pose to the UK. He said the GRU had carried out arson and sabotage in the UK with “increasing recklessness” and that MI5’s state-threat investigations had increased by 48 per cent in the last year. He also added that MI5 has acted on 20 Iranian-backed plots since 2022.

Domestic politics: James Cleverly has taken the lead in the latest round of the Conservative Party leadership election. Cleverly, a former UK Foreign Secretary and Home Secretary, secured 39 votes from MPs. Robert Jenrick received 31 votes and Kemi Badenoch received 30 votes. Tom Tugendhat, a former Security Minister, was knocked out.

The Mighty Calendar

What’s happening today?

• South Korea public holiday

• General Election in Mozambique

• Prime Minister’s Questions in UK Parliament

• Renters’ Rights Bill Debate (Second Reading) in UK Parliament

• Conservative MPs vote in fourth round of Party leadership election

• Germany trade data (August)

• Mexico and Brazil CPI inflation data (September)

• Japan PPI inflation data (September)

Lookahead to tomorrow

• President Biden travels to Germany

• French budget announced

• Transport Questions in UK Parliament

• General Debate on Sport in UK Parliament

• Boris Johnson’s memoirs are published

• Italy industrial production data (August)

• United States CPI inflation data (September)

• South Korea interest data decision

The Mighty Finale

🌤️Weather today

Light cloud in London. Small chance of rain. High of 17oC and low of 10oC. Patchy rain in Belfast and Edinburgh.

✏️Life coaching quote of the day

“It’s time to start living the life you imagined.” – Henry James, author

Mighty takeaway: Why put off the life you want to lead? You won’t get a second chance at life. Take one action every day that will help you to achieve your goals.

That’s all 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

hello@mightymemo.co.uk

Tuesday, 8 October 2024

The Mighty Headlines

• Economics: Retails sales grow in Eurozone

• Business: Trump promises up to 200 per cent tariffs on Mexican auto imports

• Markets: Brent crude oil surpasses $80 a barrel

• Foreign Affairs: President of Tunisia wins another term in office

• Security and intelligence: Terrorist attack in Pakistan targets Chinese workers

• Domestic politics: UK PM calls for ceasefire in Lebanon and Gaza

The Mighty Stats

• FTSE = 8,303.62 (up 0.28 per cent at Monday close)

• S&P500 = 5,695.94 (down 0.96 per cent at Monday close)

• Nasdaq = 17,923.90 (down 1.18 per cent at Monday close)

• CAC40 = 7,576.02 (up 0.46 per cent at Monday close)

• £1 = $1.31 / €1.19

• US: Trump / Harris = 46.8 / 48.9 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: Retail sales in the Eurozone grew by 0.2 per cent in August. Factory orders in Germany, however, fell by 5.8 per cent in the same month. This was worse than the 2 per cent decline in factory orders expected. The euro fell below $1.10 on the news.

Business: Donald Trump has indicated he could put 200 per cent tariffs on vehicles from Mexico if he is re-elected President. Trump has previously said that he would impose 100 per cent tariffs in order to support the US auto industry. The President was speaking in the swing-state of Wisconsin – his fourth visit to the state in eight days.

Markets: The price of oil rose to over $80 a barrel yesterday following the continuing tensions in the Middle East. Last week, Brent crude oil rose by more than 8 per cent – the highest weekly increase since the beginning of 2023.

Foreign Affairs: The President of Tunisia, Kais Saied, has secured another term in office with 90 per cent of the vote. Saied faced two rivals, one of whom was jailed last month. A total of 14 other potential candidates were also barred from running.

Security and intelligence: The Chinese Embassy said yesterday that two Chinese workers were killed in a terrorist attack in Karachi, Pakistan on Sunday. The Baloch Liberation Army (BLA), which seeks independence from Pakistan, claimed responsibility. The BLA believes ethnic Baloch residents are not receiving their share of wealth from Chinese investments in the region.

Domestic politics: Speaking in Parliament yesterday, the Prime Minister called for an immediate ceasefire in Lebanon and for Hezbollah to move back north of the Litani River. Sir Keir also called for the return of the Israeli hostages, a ceasefire in Gaza and a two-state solution.

The Mighty Calendar

What’s happening today?

• Germany industrial production data (August)

• Energy Questions in UK Parliament

• European Parliament Debate on the Middle East

• French trade data (August)

• United States trade data (August)

• Canada trade data (August)

Lookahead to tomorrow

• South Korea public holiday

• General Election in Mozambique

• Prime Minister’s Questions in UK Parliament

• Renters’ Rights Bill Debate (Second Reading) in UK Parliament

• Conservative MPs vote in fourth round of Party Leadership election

• Germany trade data (August)

• Mexico and Brazil CPI inflation data (September)

• Japan PPI inflation data (September)

The Mighty Finale

🌤️Weather today

Thundery showers in London. High of 18oC and low of 13oC. Heavy rain in Belfast and Edinburgh. Autumn is definitely here!

✏️Life coaching quote of the day

“First tell yourself what kind of person you want to be, then do what you have to do. For in nearly every pursuit we see this to be the case. Those in athletic pursuit choose the sport they want, and then do that work.” – Epictetus, Ancient Greek philosopher

Mighty takeaway: If you imagine your successful self in the future, what would they be doing today to achieve your dreams? Take that action today.

That’s about it for today’s edition. Thank you so much for reading to the end! 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

hello@mightymemo.co.uk

Monday, 7 October 2024

The Mighty Headlines

• Economics: US dockworkers suspend three-day strike

• Business: £550 million bid to buy UK Daily Telegraph newspaper

• Markets: Middle Eastern stock markets fall following geopolitical tensions

• Foreign Affairs: President of Taiwan says “impossible” for China to be the motherland

• Security and intelligence: Iran calls for further strikes against Israel if necessary

• Domestic politics: Prime Minister’s Chief of Staff resigns

The Mighty Stats

• FTSE = 8,280.63 (down 0.023 per cent at Friday close)

• S&P500 = 5,751.07 (up 0.9 per cent at Friday close)

• Nasdaq = 18,137.85 (up 1.22 per cent at Friday close)

• CAC40 = 7,541.36 (up 0.85 per cent at Friday close)

• £1 = $1.31 / €1.19

• UK: Con / Lab / Reform = 23 / 31 / 18 per cent

• US: Trump / Harris = 46.9 / 49.1 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: US dockworkers have suspended a three-day strike after reaching an agreement with ports and shipping companies. The dockworkers had sought a 77 per cent pay rise over 6 years and a ban on automation at ports. A 62 per cent pay rise is reported to have been agreed. The strikes had come at the peak holiday shopping season for ports.

Business: The owner of the New York Sun is in the lead to buy the UK’s Daily Telegraph. Dovid Efune is reported to be offering £550 million for the newspaper. Efune may seek to expand the  Daily Telegraph into the United States.

Markets: Middle Eastern stock markets closed down at the end of trading on Sunday. This follows continued geopolitical tensions in the region. On Friday, Iran’s Supreme Leader called for further strikes against Israel, and Israel continued its bombardment of Lebanon on Sunday. The Saudi Arabian Tadawul All Share Index fell by 1.6 per cent and Qatari QE Index fell by 0.5 per cent.

Foreign Affairs: The President of Taiwan, Lai Ching-te, has said that it is “impossible” for China to be Taiwan’s motherland. Lai Ching-te was elected in May and has been called a “separatist” by China. China claims Taiwan as part of its territory and the comments are likely to inflame tensions with Beijing.

Security and intelligence: Iran’s Supreme Leader, Ayatollah Ali Khamenei, has said that his country would take further action against Israel if necessary. Last Tuesday, it sent nearly 200 missiles to Israel. Separately, Donald Trump has said that Israel should “hit the nuclear first” and strike Iran’s nuclear facilities.

Domestic politics: The UK Prime Minister’s Chief of Staff, Sue Gray, has resigned from her position. Gray said that the “intense commentary” about her role in government risked becoming a distraction. There have been rumours about her influence over the government and tensions with the Prime Minister’s chief adviser, Morgan McSweeney. McSweeney now replaces her as Chief of Staff.

The Mighty Calendar

What’s happening today?

• China public holiday

• Anniversary of the 7th October attack in Israel

• Work and Pensions Questions in UK Parliament

• UK house price data (September)

• Germany factory orders (August)

• Eurozone retail sales (August)

• Japan household spending data (August)

Lookahead to tomorrow

• Germany industrial production data (August)

• European Parliament Debate on the Middle East

• French trade data (August)

• United States trade data (August)

• Canada trade data (August)

The Mighty Finale

🌤️Weather today

Light rain from mid-morning onwards in London. High of 19oC and low of 13oC. Raining in Belfast and Edinburgh too.

✏️Life coaching quote of the day

“Most people die with their music still in them. Why is this so? Too often it is because they are always getting ready to live. Before they know it, time runs out.” – Oliver Wendell Holmes, former United States Supreme Court Justice

Mighty takeaway: Don’t get ready to start your life some day in the future. Live your life now.

That’s it for this Monday. 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

hello@mightymemo.co.uk

Friday, 4 October 2024

The Mighty Headlines

• Economics: France increases corporation tax on largest companies

• Business: Levi’s sales weaker than expected

• Markets: Markets fall following Middle East tensions

• Foreign Affairs: Mexico’s first woman president reforms women’s rights

• Security and intelligence: NATO head gives support for Ukraine to strike Russia

• Domestic politics: UK gives up sovereignty of Chagos Islands

The Mighty Stats

• FTSE = 8,282.52 (down 0.1 per cent at Thursday close)

• S&P500 = 5,699.94 (down 0.17 per cent at Thursday close)

• Nasdaq = 17,918.48 (down 0.037 per cent at Thursday close)

• CAC40 = 7,477.78 (down 1.32 per cent at Thursday close)

• £1 = $1.31 / €1.19

• US: Trump / Harris = 47.2 / 49.4 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 French Prime Minister, Michel Barnier, has confirmed an increase in corporation tax for around 300 of France’s largest companies to help balance the government’s budget. The increase will apply to companies with over a €1 billion in turnover.

Business: Levi’s has posted weaker than expected revenue for Q3 2024. Sales amounted to $1.52 billion versus the $1.55 billion expected. Sales at Dockers, the khaki clothing brand Levi’s founded in the 1980s, fell by 15 per cent and has pushed overall results down. Levi’s is now considering selling the brand.

Markets: Stock markets fell on Thursday following concerns about the situation in the Middle East. The pan-European Stoxx 600 fell by nearly 1 per cent and the Dow Jones fell by 0.44 per cent. At the same time, the price of oil rose by 5 per cent as traders anticipate reduced supply.

Foreign Affairs: Mexico’s new president, Claudia Sheinbaum, has announced a number of measures to strengthen women’s rights. Sheinbaum, who took office on Tuesday as Mexico’s first female president, is proposing equal pay for women, equal representation of men and women in state and federal government cabinets, financial support for women over 60 and tackling violence against women.

Security and intelligence: The new head of NATO, Mark Rutte, has given his support to Ukraine to hit targets inside Russia. Rutte, who was prime minister of the Netherlands before becoming head of NATO this week, said that Ukrainian defence “does not end at the border”. He added that Ukraine had a right to target Russian fighter jets and missiles before they arrived in Ukraine.

Domestic politics: The UK Government has announced that it is giving up sovereignty of the Chagos Islands to Mauritius following a long-running dispute. The largest of the islands, Diego Garcia, has been used as a joint UK-US military base since the 1960s and will continue to be so. Residents who were forcibly expelled in the 1960s now hope to return to the islands.

The Mighty Calendar

What’s happening today?

• China public holiday

• UK PM gives speech on £22 billion carbon capture investment

• French President hosts Francophonie Summit at Villers-Cotterêts (ends Saturday)

• South Korea retail sales data (August)

• Spain and France industrial production data (August)

• UK construction data (September)

Lookahead to the weekend

Saturday

• Donald Trump returns to Butler, Pennsylvania for rally after attempted assassination

• Spanish Book Fair, Conway Hall

• Planet Earth III Live in Concert, OVO Arena Wembley

• ICC Women's T20 World Cup: England vs Bangladesh

Sunday

• Conker Championships, Hampstead Heath

• NFL London Edition: New York Jets vs Minnesota Vikings, Tottenham Hotspur Stadium

• ICC Women's T20 World Cup: Scotland vs West Indies

The Mighty Finale

🌤️Weather today

Sunny and dry in London. High of 17oC and low of 7oC. Raining all day in Belfast and mostly sunny in Edinburgh.

✏️Life coaching quote of the day

“If you are bored with life, if you don’t get up every morning with a burning desire to do things – you don’t have enough goals.” – Lou Holtz, American Football coach

Mighty takeaway: Don’t waste your time leading an uninspired life. Live a life that is worthwhile and meaningful to you.

That’s all for this week. We'll see you again on Monday! 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

hello@mightymemo.co.uk