Whats up and welcome to the working week.
The following seven days will not be all concerning the US, simply largely. The headline act would be the Democratic Nationwide Conference, which formally kicks off on the United Middle in Chicago on Monday with greater than 50,000 folks anticipated to attend over the following couple of days, together with FT colleagues.
The DNC is an act of choreography to make an Olympic opening ceremony appear to be the Gloucester cheese-rolling contest, with momentum progressively constructing over the week. This yr will characteristic speeches by President Joe Biden, then former presidents Barack Obama and Invoice Clinton earlier than the arrival on Thursday of Kamala Harris for her coronation deal with.
Since Biden stepped apart to permit Harris to take the nomination, the celebration temper has been reworked, offering a momentum that has enabled her to drag forward of Republican rival Donald Trump within the important battleground states of Michigan (+1.4 factors) and Wisconsin (+0.6 factors), in accordance with the (free to view) FT poll tracker.
The ghost of the 1968 Democratic gathering in Chicago has hung over this yr’s DNC, nevertheless, because the FT’s lady on the bottom Claire Bushey explains.
Furthermore, pre-election polls have to be handled with warning. There’s nonetheless a protracted strategy to go till the election itself on November 5, the one ballot that counts. Turmoil within the Center East, a slowdown in US jobs development and protracted voter considerations about inflation are the obvious dangers Harris faces, however she will additionally anticipate sharper assaults from the Republican camp and better scrutiny of her coverage plans.
So for now one query stays: can Harris keep her momentum?
The following cease for the FT information bus this week is slightly additional west at Jackson Gap, Wyoming, venue for the annual gathering of central bankers, finance ministers and enterprise executives hosted by the Federal Reserve Financial institution of Kansas Metropolis. The 2024 Jackson Gap Financial Symposium begins on Thursday and the headline act shall be Federal Reserve chair Jay Powell, whose speech on Friday might want to react to current poor US jobs knowledge and market volatility.
The financial knowledge run is way quieter over the subsequent few days than final week, as is the schedule for firm outcomes. Most noteworthy shall be an rate of interest announcement by China’s central bankers, the publication of minutes from the Federal Open Market Committee rate-setting assembly and the worldwide comparisons offered by the buying managers’ index (PMI) comparisons between China, India and G7 wealthy nations. Extra particulars under.
Yet another factor . . .
Thanks to all who’ve written in to level out both the place you might be on vacation this yr, or why few folks in your nation are taking a break over the summer season. Thanks notably to these writing from India on that final level.
My colleague Simon Kuper has a different take, pointing to file numbers getting away this yr, so please learn it and share your ideas.
Being European/British, I’m placing the out of workplace signal on my electronic mail, taking my household to the place the place my FT story started 25 years in the past: New York Metropolis. I’ll subsequently break the cardinal rule on holidays and spend a number of hours catching up with colleagues within the Manhattan bureau, a few of whom have been there once I joined as a tech and telecoms reporter in 1999.
The Week Forward by no means rests, nevertheless, so David Hindley and Melody Abike Adebisi shall be your guides whereas I’m away. Thanks each.
Maintain your feedback coming about probably the most urgent objects for you and what I ought to (and shouldn’t) be together with. Electronic mail me at jonathan.moules@ft.com (I promise to learn them on my return) or, in case you are studying this out of your inbox, hit reply.
Key financial and firm stories
Here’s a extra full record of what to anticipate when it comes to firm stories and financial knowledge this week.
Monday
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Twentieth anniversary of web search engine firm Google debuting on New York’s Nasdaq change
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Deutsche Bundesbank, Foundations of Regulation and Finance, Frankfurt College of Finance & Administration and CEPR two-day convention on regulating monetary markets begins on the Frankfurt College of Finance and Administration campus
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Japan: June machine orders knowledge
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UK: Rightmove August Home Worth Index
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Outcomes: Lendlease FY, Palo Alto Networks This fall, Plus500 HY, Suncorp FY
Tuesday
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Takeover Panel prolonged deadline for Bellway to both announce a agency intention to make a proposal for Crest Nicholson or announce that it doesn’t intend to make a proposal
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Canada: July client value index (CPI) inflation price knowledge
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China: Folks’s Financial institution of China mortgage prime price announcement
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EU: July harmonised index of client costs (HICP) inflation price knowledge
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UK: July insolvency statistics
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Outcomes: Lowe’s Q2, Medtronic Q1, Wooden Group HY
Wednesday
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Financial institution of Italy Governor Fabio Panetta speaks at Italian cultural pageant, the Rimini Assembly, on debt sustainability and financial growth
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Indonesia: rate of interest announcement
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Japan: July commerce steadiness figures
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South Africa: July CPI inflation price knowledge
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UK: July public sector web borrowing figures
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US: Federal Open Market Committee assembly minutes printed
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Outcomes: Agilent Applied sciences Q3, Alcon Q2, Analog Units Q3, Costain HY, Mobico HY, Goal Q2, City Outfitters Q2, Zoom Q2
Thursday
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EU: European Central Financial institution publishes the accounts of its final financial coverage discussions
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Eurozone, France, Germany, India, Japan, UK, US: S&P World/HCOB/HSBC/au Jibun Financial institution flash buying managers’ index (PMI) knowledge
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South Korea: rate of interest announcement
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Turkey: rate of interest announcement
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Outcomes: Aegon HY, Hays FY buying and selling replace, Intuit This fall, MacFarlane HY, Ross Shops Q2, Swiss Re HY, TD Financial institution Group Q3
Friday
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Federal Reserve chair Jay Powell is scheduled to ship remarks on the financial outlook on the Jackson Gap Financial Symposium
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France: August enterprise confidence survey
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Japan: July CPI inflation price knowledge
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EU: ECB Shopper Expectations Survey
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UK: GfK Shopper Confidence Survey
World occasions
Lastly, here’s a rundown of different occasions and milestones this week.
Monday
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FT and Schroders Business Book of the Year lengthy record introduced
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Sint Maarten: basic election, referred to as after the coalition authorities led by Prime Minister Luc Mercelina misplaced its majority within the 15-seat parliament
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US: The Democratic Nationwide Conference opens within the United Middle, Chicago, operating till Thursday
Tuesday
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UK: Edinburgh Tv Competition begins within the Scottish capital, operating till Friday
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US: presidential candidates anticipated to file monetary disclosures to the Federal Election Fee masking the earlier month
Wednesday
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China: World Robotic Convention begins in Beijing. Additionally, Fiji Prime Minister Sitiveni Rabuka completes a go to to the nation, searching for to extend financial ties with Beijing
Thursday
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UK: outcomes printed for GCSEs in England, Wales and Northern Eire. Additionally, nominations shut for poll to interchange Douglas Ross because the Scottish Conservative chief
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US: Jackson Gap Financial Coverage Symposium begins in Wyoming
Saturday
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Saudi Arabia: eSports Awards, recognising excellence in on-line gaming
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Ukraine: Independence Day, commemorating the declaration of independence from the USSR in 1991
Sunday
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UK: Notting Hill Carnival, 58th annual avenue celebration and African Caribbean cultural pageant, begins in west London
