Live News Updates: Recession looms as business confidence hits 2-year low in Germany

Let the games begin. No, not a bitter showdown between the Conservative Party’s final two candidates Chief election – Watch it on the BBC on Monday. It starts this week Commonwealth Games In Birmingham, England’s second largest city.

The opening day of the International Games Festival 2022 will be marred by another big event of the British summer: industrial action. R.M.D Latest performance In one of its series of walkouts over pay levels for rail industry workers on Wednesday, the same day Aslef – which represents train drivers – counted votes in a strike vote on members’ pay awards. Unrest continues to spread, with telecommunications engineers and dock workers striking or voting for industrial action over pay.

Across the Channel, energy ministers from EU member states will meet in Brussels this week to decide on steps to end European reliance on Russian fuel supplies. The The odds are not good, according to Europe Express newsletter writer Valentina Pop. On Sunday, President Vladimir Putin will have a chance to stand out as Navy Day is celebrated in port cities across Russia.

If this is too depressing, the prospect of more significant compensation for British postmasters affected by the faulty Horizon computer system is worth celebrating. Former Supreme Court judge Lord John Tyson is expected to announce the final settlement for the victims of the IT scam. Interim fees total £19.5mn In June.

This week’s selection of election news is from Tunisia To vote on the new constitution. Politicians and analysts say there is little doubt that the charter drawn up by populist leader Qais Syed will be accepted, despite expectations of a low turnout.

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Economic data

All eyes will be on Washington on Wednesday for the Federal Reserve’s latest interest rate announcement. There are expectations of a tightening of the monetary policy machinery with a 75 basis point increase. At least one senior central bank governor will favor the Federal Open Market Committee More to go.

With quarterly GDP figures from the US, Canada, France, Germany and the Eurozone, we’ll get data on growth – did someone mention recession.

Companies

We’ve had peak returns with company names from A to Z (or at least X) — ironically, Alphabet is on Tuesday’s list.

The negative impact of the strong dollar was seen in the range of US earnings calls this quarter. This is expected to emerge as an issue again with results announcements from Silicon Valley tech companies, which have a large percentage of their revenue from overseas.

Microsoft, which reports on Tuesday, has already cut its guidance based on the dollar, and Morgan Stanley issued a note last week that the dollar could lead to disappointing guidance when Apple reveals its numbers on Thursday.

Unilever, Danone, Procter & Gamble, Reckitt Benckiser, Nestlé and Mondales will all be in focus in the consumer goods sector this week. The concern among analysts is that shoppers are tightening their belts, opting for cheaper own-label supermarket products over multinational brands. The decision of Unilever et al raising their prices Doesn’t make the situation any easier.

Read the full weekly calendar Here.

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