Live news update: Pound falls ahead of Conservative party meeting

Former British Prime Minister Harold Wilson is said to have said that a week is a long time in politics. How long does a month feel? It has turned out to be a very long time, given the political and economic upheaval since Liz Truss took over as party leader at the beginning of September.perhaps she should have paid more attention Advice from the FT Editorial Board.

Truss will present herself to her party gathered for the annual conference in Birmingham this week. Congressman Tory’s no-show, Truss will undoubtedly join her chancellor, Kwasi Kwarten. He will speak at the conference on Monday. Truss will deliver his closing remarks on Wednesday.

On the other side of the world, China’s leadership is also involved in running some political parties. The country started its annual Golden Week holidays, patriotic pageantry month Meanwhile, President Xi Jinping is set to enter an unprecedented third term as General Secretary of the Communist Party and Chief of the Chinese Armed Forces.

Then there are the more traditional elections.you could read the analysis By Brazilian FT reporter “incomplete” Vote in the presidential election. And this Sunday, Austria will go to polls to elect a new president.

Finally, NASA’s SpaceX Crew-5 astronaut mission is scheduled, so it’s going to be another big week for rocket enthusiasts. take off For the International Space Station from Kennedy Space Center in Florida — unless Hurricane Ian sabotages the process.

economic data

Employment will be the focus of a rather thin week for economic data. The US and Canada will release their numbers on Friday.

There is also an opportunity for international comparisons with the Manufacturing and Services Purchasing Managers’ Index report.

enterprise

Another busy week with news from High Street. Inflation will dominate British retailer Tesco’s half-year results. How much is absorbed, how much is absorbed by suppliers, and how much is passed on to consumers. The investor was somewhat embarrassed when his chain announced in April that it would forego some of this year’s profits to maintain pricing, but now the decision seems prescient. I can see.

Other retailers are using funds to help staff deal with the problem. cost of living crisisThe John Lewis Partnership will begin offering free food to staff at department stores and Waitrose supermarkets this week. or an employee-owned company this month by an employee-owned company may not pay Annual staff bonus.

Wages are rising in this sector. At least three retailers have pushed for pay increases this year, but now they’re also scrapping perks like free meals, employee discounts and paid breaks.

Read the full calendar for the week ahead here.