Next week: Ballot papers are out for Conservative Party members

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Hello and welcome to work week. Today I step in for Jonathan Mulls, who is on vacation.

This week, the convoy of the Conservative Party leadership contest moves from Parliament to the country’s membership. Ballots are expected to land on the aisles of 150,000 Conservative Party members in the next few days, while finalists Liz Truss and Rishi Sunak will compete in another televised debate on Sky News on Thursday at 8pm.

But have the Conservatives already made up their minds? Opinion polls have shown Truss ahead of the former chancellor among the ranks. Stephen Bush, who runs the newsletter Inside Politics, warns that Sunak has limited time to bridge the gap with Truss, as “most Conservatives will vote as soon as their ballot papers arrive.”

Whoever wins the driving race will inherit a wave of industrial indignation. Thousands of BT employees will walk out on Monday in the second of two strikes led by a telecoms workers’ union in a wage dispute. In response to a £1,500 wage deal for BT that was offered to employees in April, the CWU said the company’s bosses “hanged two fingers” on workers. It is also expected to hit dockers at the UK’s largest container port in August.

Across the Atlantic, Hungarian Prime Minister Viktor Orbán will speak at the Conservative Political Action Conference in Dallas, Texas, despite the international backlash after a speech on race that led to the resignation of one of his close aides, whom he described as “pure.” Nazi”.

Speaking about the controversial international trips, Catherine Hill stated that China is making every stop – including perhaps the military – to dissuade US House Speaker Nancy Pelosi from visiting Taiwan in the next few days.

After the doom and gloom, we can look forward to a weekend full of energy. In addition to World Beer Day on Friday, the streets of Brighton will be flooded with glamor as one of the UK’s biggest Pride events kicks off. The annual LGBTQ parade will see thousands of people flock to the south coast of England. And don’t miss it the fire of love On the big screen writes film critic Danny Lee.

Get in touch with us – via email geogina.quach@ft.com or on Twitter @georgina.quach.

economic data

The Bank of England will be in a tight spot on Thursday as its Monetary Policy Committee considers how high interest rates should be in a bid to bring inflation down to a 2 per cent target. It is currently running at a 40-year high of 9.4 percent and is expected to rise even higher. Governor Andrew Bailey said an increase of half a percentage point – which would be the largest increase in 27 years – is on the table.

The Bank of England is under pressure to step up efforts to tame inflation after the US Federal Reserve raised its benchmark interest rate by 0.75 percentage points for the second consecutive month on Wednesday. The White House will release any good news from the US employment figures this week to reduce fears of a recession. The economy contracted for the second consecutive quarter and “core” personal consumption expenditures rose 0.6 percent in June.

comp

The lull in August earnings isn’t quite upon us. After last week’s frenzy, things will calm down a bit in the coming days, says FT commentator Kat Rutter Polly.

The narrative of FMCG and Beverage groups raising sales expectations on the back of resolutely rising inflation has been set before Heineken Monday results and Kellogg Thursday.

Surprising earnings for the oil and gas groups were a major focus of the earnings season. after, after coincidence Raised $11.5 billion in profits in a record quarter, it BP’s Turning to enter the political storm on Tuesday. The United Kingdom imposed additional taxes on energy companies this year, but another round of record profits may increase calls for additional fees.

And while the major US banks have presented their updates as it seems from time immemorial, reports from the European banking sector still flow through them. HSBC It will be updated on whether the shutdowns in China have continued to affect its Asian profitability, while Bank of Ireland And the Commerzbank Both report on Wednesday.

Major economic reports and company reports

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

Monday

  • European Union, monthly unemployment figures

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

  • Germany, retail figures

  • United States, construction spending figures

  • consequences: First Group Bank Welcome , globaldata Welcome , Heineken Welcome , HSBC Welcome , Pearson H1, Pinterest Q2

Tuesday

  • The Reserve Bank of Australia holds a monthly interest rate meeting

  • UK & Country Monthly House Price Index & Quarterly Insolvency Figures

  • consequences: Airbnb Q2, BP Q2, Direct Line Insurance Group Welcome , Frenelo Welcome , Greg Welcome , JetBlue Airways Q2, man group Welcome , Mitsubishi Q2, PayPal Q2, prudent finance Q2, Starbucks Q3, Uber Technologies Q2

Wednesday

  • EU, retail sales figures for July

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

  • India, Reserve Bank of India holds monthly rate-setting meeting

  • Italy, monthly retail sales figures

  • United States, monthly employment data

  • consequences: axa Welcome , Bank of Ireland Welcome , BMW Welcome , Commerzbank Q2, ebay Q2, Hugo Boss Q2, Infineon Technologies Q3, just eat Welcome , modern Q2, nintendo Q1, Nomura Holdings Q1, Taylor Wimpy Welcome , Telecom Italia Q2, veolia Welcome , Yum Brands Q2

Thursday

  • European Central Bank, monthly economic bulletin

  • Investic The annual general meeting is held

  • Tesla The annual shareholder meeting is held

  • UK, Bank of England Monetary Policy Committee rate setting meeting

  • United States, International Trade in Goods and Services June Figures

  • consequences: Ali Baba Q2, bayer Q2, ConocoPhillips Q2, Eli Lilly and Company Q2, Kellogg Q2, Lift Q2, next one Q2 trading update, Nippon Steel Q1, Novo Nordisk Q2, Basic Q2, Pirelli Q2, Rolls-Royce Welcome , Serco Group Welcome , SoftBank Group Q1, Toyota x 1

Friday

  • Canada, unemployment numbers for July

  • UK monthly house price index, Halifax

  • US, July Unemployment and US Federal Consumer Credit Figures

  • consequences: Capita Group Welcome , Deutsche Postbank Q2, Suzuki Motor Company x 1

world events

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

Monday

  • China, Anniversary of the Founding of the Chinese People’s Liberation Army

  • Cook Island, parliamentary elections

  • Germany has pledged to stop buying Russian coal from today

  • Hungary, the country will stop exporting fossil fuels to neighboring countries from today

  • Liberation Day in Jamaica celebrates the day African slaves in British colonies were granted freedom from slavery

  • Switzerland, National Day holiday

  • UK, St Andrew’s Day Bank Holiday in Scotland. Syndicate members BT and Openreach will be on strike for 24 hours over wage dispute. The first strike occurred on Friday.

Tuesday

Wednesday

Thursday

  • The Qixi Festival in China celebrates the annual meeting of the shepherd girl and weaver in Chinese mythology

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

Friday

  • Japan, anime fans gather for the three-day global cosplay summit

  • Russian President Recep Tayyip Erdogan will meet with Russian Prime Minister Vladimir Putin in Sochi

  • In the United Kingdom, around 150,000 Conservative Party members are due to have their votes by today to begin voting for a new leader, and thus the new British Prime Minister. The weekend begins at Brighton and Hove Pride Festival

Saturday

  • Bolivia Independence Day Holiday

  • Jamaica, Independence Day

  • Japan, 77th Annual Celebration of Atomic Bomb Victims in Hiroshima

Sunday

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