Live news updates: German recession looms as business confidence hits two-year low

let the games begin. No, not the sharp disagreement between the last two Conservative candidates leadership election – Although you can watch it on BBC on Mondays. This week is the beginning Commonwealth Games In the UK’s second largest city, Birmingham.

The opening day of the International Sports Festival will distort that other big event of British summer 2022: the industrial movement. RMT will organize the latest In a series of strikes over pay levels for rail industry workers on Wednesday, the same day Aslef – which represents train drivers – is counting votes in its strike on member payroll bonuses. The unrest continued to spread, with telecom engineers and port workers either going on strike or voting to strike industrial work in lieu of wages.

Across the channel, energy ministers from EU member states will meet this week in Brussels to decide on measures to end European dependence on Russian fuel supplies. The Prospects are not goodAccording to Europe Express newsletter writer Valentina Pope. On Sunday, President Vladimir Putin will have his chance to roam with the celebration of Naval Fleet Day in coastal cities across Russia.

If this is so frustrating, it might be worth celebrating the prospect of additional significant compensation for British postal masters suffering because of the faulty Horizon computer system. Former Supreme Court Justice Lord John Dyson is expected to make an announcement on the final settlement of the victims of the IT scandal after the government announced the Provisional payment totaling £19.5 million in June.

This week’s election news was chosen in Tunisia Vote for a new constitution. Politicians and analysts say there is little doubt that the charter, drafted by populist leader Kais Saied, will be adopted even if they expect a low turnout.

economic data

All eyes will be on Washington on Wednesday for the latest interest rate announcement from the Federal Reserve. The monetary policy mechanism is expected to be tightened by 75 basis points. At least one senior Fed governor would like the FOMC to do so go further.

Then we’ll have the growth data – did someone mention the recession – with the quarterly GDP numbers for the US, Canada, France, Germany and the eurozone bloc.

comp

We’ve hit the peak of earnings season with company names from A to Z (or at least X) — ironic considering Tuesday’s list includes the alphabet.

The negative impact of a stronger dollar was seen across a batch of US earnings calls this quarter. It’s expected to resurface as an issue with a raft of results announcements from tech companies in Silicon Valley, which have some of the highest percentages of revenue from overseas.

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

Attention will also be focused on the consumer goods industry, with Unilever, Danone, Procter & Gamble, Reckitt Benckiser, Nestlé and Mondelēz all reporting this week. The concern among analysts is that shoppers are tightening their belts, choosing inexpensive supermarket products over multinational brands. The decision of Unilever and others to raise their prices It didn’t make the situation any easier.

Read the full calendar for the next week over here.