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A very British election begins

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Hello and welcome to the work week,

In this year of significant elections, the UK has the most significant elections this week, but one that is only open to a few hundred MPs from Westminster’s back seat. This is the vote to refresh the Conservative Party’s parliamentary body, the 1922 Committee.

The first task of the new group of 18 Tory MPs from the back bench after the referendum on Monday will be to agree on the rules for electing the new leader of their party (i.e. the UK Prime Minister). This Expected to end by September. A clutch of MPs already Throw their hat into the ringBut these can be reduced to a short list of two within a few days, according to the FT parliamentary staff.

The timetable for deciding on the new prime minister is important and severe, with UK inflation the highest in the G7 and the country’s growth next year (if it grows at all) expected to be slowest, According to the International Monetary Fund. There is a critical need in Someone talented To guide the country in the interim period before the general public again decides on its government through general elections.

Also, the summer of British dissatisfaction is rolling. If anything, it is gaining momentum. Criminal lawyers will go out again on Monday, for reasons explained in This passage is from a legal associate. Additional train troubles are on the table with Asalf, which represents train drivers, and TSSA, which represents more than 6,000 Network Rail workers. Voting for a strike. And on Friday, a vote on industrial action for members of the University and College Association closes in a separate dispute over low wages, unmanageable workloads and professional respect. This can lead to Another disorder To students at UK universities and colleges after this long and hot summer of unrest ends.

Thanks again for the comments on this newsletter. Please contact me at jonathan.moules@ft.com Or click Reply to this email.

Economic Data

This is a busy week for announcing significant economic data, including inflation data for the US, UK, France and Germany – perhaps giving an indication if rising cost of living is nearing its peak – plus GDP data from China and the UK.

The Federal Reserve publishes its latest beige book on the current state of the US economy and the commissions of New Zealand and South Korean central banks may raise their interest rates by 50 basis points. Croatia is also accepted as the last member of the Eurozone group.

membership

U.S. banks will begin the U.S. earnings season this week, with excessive results forecast thanks to the Fed’s run of interest rate hikes. Analysts expect JP Morgan Chase, Bank of America and Citigroup See the growth in net interest income, the difference between what banks pay depositors and what they earn from loans and other assets.

The big fear is low tide. Banks are usually the stocks hardest hit during a downturn. When trouble appears on the horizon, the pressure increases to increase capital balances in case existing loans go awry.

Economic reports and key companies

Here is a more complete list of what to expect in terms of company reports and economic data this week.

Monday

Tuesday

  • Germany, ZEW Economic Sentiment Survey

  • India, Consumer Price Index (CPI) data in June and May manufacturing data

  • Japan, June Manufacturer Price Index Data (PPI).

  • OPEC’s monthly oil market report

  • UK Retail Sales Reports, British Retail Consortium and KPMG June

  • Results: Grafton Group H1 Trading Update, PepsiCo Question 2

Wednesday

  • Canada, The Bank of Canada’s Monetary Policy Committee convenes to set tariffs

  • China, June trade data

  • EU Industrial Production Data, May

  • France, final consumer price index data for June

  • Germany, final consumer price index data for June

  • New Zealand Monetary Policy Committee, Central Bank of New Zealand convenes

  • South Korea, tariff setting meeting

  • UK GDP data, June plus trade and services output data for May

  • US Consumer Price Index Data, June plus the Federal Reserve publishes its latest beige book on current economic conditions

  • Results: JD Wetherspoon for your information, Page group Trading update in the second quarter

Thursday

  • EU, European Commission publishes its economic summer forecasts

  • Japan, May Manufacturing Production Data

  • UK, monthly survey of the Royal Institution of Certified Surveyors

  • US PPI data, June

  • Results: Barrett Developments Trade update, Erickson Question 2, Experian Trading update in the first quarter, Ferrovial H1, JP Morgan Chase Question 2, Morgan Stanley Question 2, Rio Tinto Review of operations in Q2, Tulle oil Trade update

Friday

  • Canada, May Wholesale Trade Data

  • China, second quarter GDP data and June retail sales data and manufacturing output

  • Commodity trade data in the EU, May

  • India, Trade Statistics

  • Italy, June Consumer Price Index Data

  • Poland, June Consumer Price Index data

  • Insolvency data of companies and individuals in the UK, June

  • U.S. Food Services and Retail Sales Data, June

  • Results: Bank of New York Hotel Question 2, Black stone Question 2, Burberry Trading update in the first quarter, Citigroup Question 2, Svenska Handelsbanken H1, Wells Fargo Question 2

Global events

Finally, here is an overview of additional events and milestones this week.

Monday

  • The finance ministers of the European Union and the eurozone will meet in Brussels

  • Britain, the continuation of the strike action of criminal lawyers in England and Wales is over Legal aid cuts. In addition, TSSA points to more than 6,000 Network Rail employees in dispute over wages, conditions and job security

  • Britain, the election of members of the Conservative Party committee from 1922, who would then sign the terms of the leadership election to decide on the next prime minister of the country

Tuesday

  • The EU, ministers from 27 member states that are about to go through the last three legal actions required for Croatia to be the 20th company to adopt the euro currency

  • UK, Transport to London concludes consultation on redesign of bus services in the city, following government demand for significant cost savings

  • Britain, a bank holiday July 12 in Northern Ireland, to mark the defeat of the Protestant King William of Orange over the Catholic King James II in the Battle of Bowen in 1690

  • USA, New York is watching the “Manhattan” phenomenon, in which the sun sets in perfect harmony with the numbered streets of the district from east-west

Wednesday

  • France, a national holiday of Bastille Day, marking events at the beginning of the French Revolution in 1789

  • Montenegro, a national holiday, commemorating the date on which the country’s borders were officially recognized at the Berlin Congress

  • US President Joe Biden begins a tour of the Middle East on trips to Israel, the Palestinian territories and Saudi Arabia

Thursday

  • Germany, Representatives at the German Social Democrats’ conference in Hanover will discuss whether to expel former Chancellor Gerhard Schroeder from the party due to his close ties with Russia

  • Iraq, National Republic Day to mark the overthrow of the Hashemite monarchy in 1958

  • In the UK, the NHS publishes waiting times for suspected and diagnosed cancer patients in May, and the Home Office publishes statistics on the EU settlement program in June. Also, the British Open, the oldest golf tournament in the world, starts in St Andrews

Friday

  • UK, BBC Proms’ music concerts begin at the Royal Albert Hall in London. In addition, the Royal International Air Tattoo, the largest air show in Europe, starts at the RAF Fairford in Gloucestershire. Also, Saint Switin Day where folklore says that if it rained it rained for another 40 days

  • The U.S., Donald Trump and two of his adult children have agreed to testify in a New York State civil investigation starting today on the former president’s business practices. Also, the World Athletics Championships begin in Oregon, the first time they are held in the U.S.

Saturday

  • UK, workers at the Budweiser Brewing Group’s Lancashire site, which cooks Budweiser, Stella Artois, Becks, Boddingtons and Export Pale Ale, are starting a 36-hour pay strike

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