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Week Ahead: ballot papers to go out to Conservative party members

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Hello and welcome to the work week. Today I’m stepping in for Jonathan Moles, who has gone on vacation.

This week, the Conservative leadership convoy moves from parliament to state companies. Ballots are expected to land on the carpets of 150,000 Members of the Tory Party In the coming days, as finalists Liz Tress and Rishi Sonk go head-to-head in another televised debate on Sky News on Thursday at 8pm.

But have the Tories already made up their minds? Polls showed Strauss pulling the former chancellor up the ranks. Stephen Bush, who heads the Inside Politics newsletter, warns of this Sunak has limited time to close the gap on TrussBecause “most conservative members will vote immediately when their ballots arrive.”

Whoever wins the leadership race will inherit a wave of industrial discontent. Thousands of BT workers will go on the second of two strikes on Monday, led by the Communications Workers’ Union, in a dispute over pay. In response to BT’s £1,500 pay deal offered to workers in April, the CWU said company bosses had “stuck two fingers” at workers. Berths at the UK’s largest container port are also expected to do so August strike.

Across the Atlantic, Hungarian Prime Minister Viktor Orbán will speak at the Conservative Political Action Conference in Dallas, Texas, despite an international backlash following a speech he gave on race that led to Resignation of one of his close aidesShe called him a “pure Nazi.”

Speaking of controversial international travel, Catherine Hila reports on it China is pulling out all the stops – possibly including the military – to dissuade the Speaker of the US House of Representatives, Nancy Pelosi, from visiting Taiwan in the coming days.

After the doom and gloom, we can look forward to a weekend of revelry. As well as International Beer Day on Friday, the streets of Brighton will be bathed in glitter as one of Britain’s biggest Pride events gets underway. The annual LGBT parade will see thousands of people flock to England’s south coast. And don’t miss the fire of love On the big screen, writes our film critic Danny Lee.

Get in touch – by email georgina.quach@ft.com or on Twitter @georgina.quach.

Economic Data

The Bank of England will be in a tough position on Thursday when its monetary policy committee considers how high to raise interest rates in a bid to bring inflation down to its 2 percent target. It is currently running at a 40-year high of 9.4 percent and is expected to climb higher. Governor Andrew Bailey said An increase of half a percent – which will be the largest increase in 27 years – is on the agenda.

The BoE is under pressure to step up efforts to tame inflation after the US Federal Reserve raised its interest rate by 0.75 percentage points for the second straight month on Wednesday. The White House will break out any good news from the US employment data this week to play down fears of a recession. The economy Zimek for the second quarter in a row And “core” personal consumption expenditures (PCE) rose 0.6% in June.

membership

A lull in profits in August is not quite in the offing. After last week’s madness, things will calm down just a little in the coming days, says FT corporate commentator Cat Rutter Pooley.

The narrative of consumer goods and beverage groups raising sales forecasts amid rising inflation was well defined before of Heineken Results on Monday and Kellogg’s On Thursday.

Oil profits earned by oil and gas groups were also a major focus of earnings season. after the shell Accumulated profits of $11.5 billion in a record quarterThis of BP turn to enter the political storm on Tuesday. Britain has imposed more taxes on energy companies this year, but another round of record profits is likely to increase calls for more levies.

And although the major US banks gave their updates a few years ago, reports from the European banking sector are still trickling in. HSBC Will update if the lockdown in China continued to weigh on its profitability in Asia, while Bank of Ireland and Commerzbank Both report on Wednesday.

Key economic and company reports

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

Monday

  • EU, monthly unemployment data

  • Eurozone, France, Germany, Japan, UK, US: S&P Global Manufacturing Purchasing’s Index (PMI) data

  • Germany, retail trade data

  • USA, Construction Expenditure Data

  • Results: Aresta Group Bank Hey, GlobalData Hey, Heineken Hey, HSBC Hey, Pearson H1, Pinterest Question 2

Tuesday

  • Australia, the Reserve Bank of Australia holds a monthly interest rate setting meeting

  • The monthly house price index across the UK, and quarterly insolvency data

  • Results: Airbnb question 2, BP question 2, Direct Line Insurance Group Hey, Pernillo Hey, Greggs Hey, JetBlue Airways question 2, A group of men Hey, Mitsubishi question 2, PayPal question 2, Financial caution question 2, Starbucks question 3, Uber Technologies Question 2

Wednesday

  • EU retail sales data, July

  • France, Germany, Italy, UK, US: S&P Global Services PMI data

  • India, the Reserve Bank of India holds a monthly interest rate setting meeting

  • Italy, monthly retail sales data

  • US, monthly employment data

  • Results: AXA Hey, Bank of Ireland Hey, B.M. hook Hey, Commerzbank question 2, Ebay question 2, Hugo Boss question 2, Infineon Technologies question 3, just eat Hey, modern question 2, Nintendo Q1, Nomura Holdings Q1, Taylor Wimpy Hey, Telecom Italia question 2, Viola Hey, Yum brands Question 2

Thursday

  • ECB, Monthly Economic Bulletin

  • Investec Holds an annual general meeting

  • Tesla Holds an annual shareholder meeting

  • United Kingdom, Bank of England Monetary Policy Committee meeting to set interest rates

  • Data on international trade in goods and services in the US, June

  • Results: Ali Baba question 2, in Iyar question 2, ConocoPhillips question 2, Eli Lilly & Co. question 2, Kellogg question 2, Lift question 2, the next Trading update in the second quarter, Nippon Steel Q1, Novo Nordisk question 2, Paramount question 2, Pirelli question 2, Rolls Royce Hey, Serco Group Hey, Softbank Group Q1, Toyota question 1

Friday

  • Canada, July unemployment data

  • UK Monthly House Price Index, Halifax

  • The unemployment data in the US, in July and the consumer credit data of the Federal Reserve in the US

  • Results: Capita Group Hey, Deutsche Postbank question 2, Suzuki Motor Corp question 1

world events

Finally, here’s a rundown of other events and milestones this week.

Monday

  • China, the anniversary of the founding of the Chinese People’s Liberation Army

  • Cook Islands, parliamentary elections

  • Germany, the country has committed Stop buying Russian coal from today

  • Hungary, a country will stop exporting fossil fuel to neighboring countries from today

  • Jamaica, Emancipation Day celebrates the day African slaves in the British colonies were freed from slavery

  • Switzerland, national holiday

  • Great Britain, Saint Andrew’s Day in Scotland. BT and Openreach union members are set to strike for 24 hours in a pay dispute. The first strike took place on Friday.

Tuesday

Wednesday

Thursday

  • China Festival, Chixi celebrates the annual meeting of the cowherd girl and the weaver in Chinese mythology

  • USA, the four-day Conservative Political Action Conference (CPAC) begins in Texas

Friday

  • Japan, anime fans gather for the three-day World Cosplay Summit

  • Russia, Turkish President Recep Tayyip Erdogan will meet Russian Prime Minister Vladimir Putin in Sochi

  • Britain, about 150,000 members of the Conservative Party are due to receive their ballots by today to begin voting for a new leader, and hence the new Prime Minister of the UK. Brighton and Hove Pride festival weekend begins

Saturday

  • Bolivia, Independence Day

  • Jamaica, Independence Day

  • Japan, the 77th annual memorial event for the victims of the atomic bomb in Hiroshima

Sunday

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