Hey and welcome to the working week.
The canine days of summer season are with us right here in London — faculties and Westminster MPs could also be off on vacation, however for this diary service, the US presidential election marketing campaign is the information reward that retains on giving.
Kamala Harris won the nomination to be the Democratic occasion presidential candidate on Friday and she or he has stated she’s going to choose her operating mate for the White Home by Wednesday. The sector has narrowed significantly now that Michigan governor Gretchen Whitmer and North Carolina governor Roy Cooper have dominated themselves out, leaving Arizona senator Mark Kelly, Pennsylvania governor Josh Shapiro, and Minnesota governor Tim Walz because the frontrunners.
Harris has up to now loved a good wind, along with her polling numbers approaching (however not but decisively forward of) Republican rival Donald Trump, in line with the FT number crunchers.
Harris might be formally endorsed by her occasion on the Democratic conference, which begins in Chicago on August 19, however it’s a lengthy method to election day on November 5. Brace yourselves for a lot of extra weeks of fevered evaluation.
One factor coming to a detailed this week is the Paris 2024 Olympics. Have you ever loved the Video games? I didn’t count on to be enthralled, then acquired hooked (partly as a result of I’ve a canine who has change into greatest pals in our native park with a hound owned by one of many pair of British girls divers that clinched an sudden bronze). And naturally the competitors will not be over as a result of we nonetheless have the Paralympic Video games. Click here for the FT’s tackle the enterprise of this sporting contest.
The primary financial submit this week might be evaluating the buying managers’ indices for providers and building between main nations. The Reserve Financial institution of Australia’s financial coverage committee votes on Tuesday, however it’s anticipated to carry rates of interest at present ranges.
The earnings calendar is extra fulsome, nonetheless, with a smorgasbord of outcomes, from media, insurance coverage, banking and Japanese automotive manufacturers to tech, telecoms and shopper items corporations.
Warner Bros Discovery has had little in the way in which of excellent information heading into its second-quarter earnings report on Wednesday. In July, it misplaced the rights to air Nationwide Basketball Affiliation video games, ending a greater than 35-year relationship and a giant income for its TNT community. My US colleagues reported final month that chief govt David Zaslav is examining his options for the corporate after a 65 per cent decline in its share worth and a outstanding Wall Avenue analyst’s declaration that the corporate’s present construction “will not be working”. Traders count on Warner to submit a lack of 18 cents a share on revenues of $10.14bn, down 2 per cent from a 12 months in the past.
Theme parks powered earnings at Walt Disney within the wake of Covid-19 restrictions easing, however, following the corporate’s second-quarter outcomes, traders feared that the post-pandemic increase was cooling. Theme parks will once more be a spotlight as Disney studies its outcomes, additionally on Wednesday, together with progress on streaming profitability. Worries about its film studios have eased in current weeks with the discharge of two blockbusters — Inside Out 2 and Deadpool & Wolverine — however the advantages of those releases will take some time to filter by way of. Wall Avenue is anticipating earnings of about $1.18 per share on income of $23bn for the third quarter.
Extra particulars on all of the earnings dates are under.
Yet another factor . . .
The UK has nominated Wednesday as Playday, celebrating the valuable childhood reward of inventing enjoyable. That is one thing near my coronary heart, which I’ve been privileged to write about within the FT. Simply to be clear, we’re not speaking about playgrounds, enjoyable as they’re, the place the leisure is ordained by swing designers. That is placing younger folks, and their fast-developing brains, to work within the critical pursuit of creativeness. If we don’t hold investing within the elements that make this doable, future generations might be all of the poorer.
What are your plans for the following seven days? Is there one thing you prefer to highlighted subsequent week? E-mail me at jonathan.moules@ft.com or, if you’re studying this out of your inbox, hit reply.
Key financial and firm studies
Here’s a extra full record of what to anticipate when it comes to firm studies and financial information this week.
Monday
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China, EU, France, Germany, India, Italy, Japan, UK, US: S&P World/HCOB/HSBC/Caixin July providers buying managers’ index (PMI) information
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Indonesia: Q2 GDP figures
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Japan: Financial institution of Japan publishes its newest financial coverage assembly minutes
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Turkey: July shopper worth index (CPI) inflation price information
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UK: Financial institution of England’s month-to-month replace on international reserves
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Outcomes: Clarksons HY, Infineon Applied sciences Q3, Itochu Q1, Tyson Meals Q3
Tuesday
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Australia: Reserve Financial institution of Australia curiosity rate-setting resolution
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EU, France, Germany, Italy, UK: S&P World/HCOB July building PMI information
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Germany: June industrial orders information
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Jamaica: Independence Day. Monetary markets closed.
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UK: British Retail Consortium-KPMG July retail gross sales monitor. Additionally, the Financial institution of England publishes a quarterly replace on its gilt sales programme.
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Outcomes: Abrdn HY, Airbnb Q2, Amgen Q2, Bayer Q2, Caterpillar Q2, Fox Corp This fall, InterContinental Accommodations HY, Worldwide Office Group HY, Keller HY, Kenvue Q2, Reddit Q2, Ricoh Q1, Saudi Aramco HY, Suzuki Motor Corp Q1, Travis Perkins HY, Tripadvisor Q2, Uber Q2, Yum Manufacturers Q2, Zalando Q2
Wednesday
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China: July commerce stability figures
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Germany: June commerce stability figures
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UK: Halifax July home worth index
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Outcomes: ABN Amro Financial institution Q2, Ahold Delhaize Q2, Asahi HY, Beiersdorf HY, CLS HY, Commerzbank Q2, Continental HY, CVS Well being Q2, Glencore HY, Honda Q1, Hilton Worldwide Q2, Hiscox HY, Ibstock HY, Authorized & Normal HY, Lyft Q2, Maersk Q2, Mazda Motor Corp Q1, McKesson Q1, NTT Q1, NiSource Q2, Novo Nordisk Q2, Puma Q2, Ralph Lauren Q1, SoftBank Q1, Sony Q1, TP ICAP HY, Tullow Oil HY, Walt Disney Firm Q3, Warner Bros Discovery Q2, WPP HY
Thursday
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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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Reserve Financial institution of Australia governor Michele Bullock delivers the annual rotary membership lecture in Armidale
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India: Reserve Financial institution of India’s bimonthly financial coverage assertion, plus repurchasing price resolution
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UK: Recruitment & Employment Confederation and KPMG report on jobs
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Outcomes: Allianz Q2, Akamai Applied sciences Q2, AMP HY, Beazley HY, Deliveroo HY, Deutsche Telekom Q2, Eli Lilly & Co Q2, Embraer Q2, Entain HY, Expedia Q2, Hill & Smith HY, Kao HY, Mears HY, Morgan Sindall HY, Information Corp This fall, Nikon Q1, PageGroup HY, Persimmon HY, Petrobras Q2, Pitney Bowes Q2, Siemens Q3, Take-Two Interactive Software program Q1, Viatris Q2, Zurich Insurance coverage HY
Friday
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Canada: July unemployment price information
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China: July CPI and producer worth index inflation price information. Additionally, preliminary Q2 present account stability.
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Germany: July remaining CPI and harmonised index of shopper costs inflation price information
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Russia: Q2 GDP figures and July CPI inflation price information
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Singapore: Nationwide Day. Monetary markets closed.
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Outcomes: Bridgestone HY, Hargreaves Lansdown FY, RTL HY
World occasions
Lastly, here’s a rundown of different occasions and milestones this week.
Monday
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US: sentencing anticipated of former British Virgin Islands premier Andrew Fahie, convicted of a number of costs together with conspiracy to import a managed substance, conspiracy to commit cash laundering and international journey in assist of racketeering. Fahie was discovered responsible on February 8, however sentencing has been delayed a number of instances
Tuesday
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Japan: 79th anniversary of the atomic bomb being utilized in fight for the primary time on Hiroshima. The anniversary of the second and solely different use of an atomic bomb in hostilities, on Nagasaki, might be commemorated on Friday
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UK: Scottish college students obtain outcomes for his or her nationwide, larger and superior larger programs, needed for college locations
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US: Antony Blinken, secretary of state, and Lloyd Austin, secretary of defence, host their respective Australian counterparts Penny Wong and Richard Marles for ministerial consultations
Wednesday
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UK: Playday, annual day celebrating kids’s right to play and its significance of their every day lives
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US: Kamala Harris’s self-imposed deadline to call her operating mate within the Democratic occasion’s presidential election marketing campaign
Thursday
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Asean Day, marking the signing of the Affiliation of Southeast Asian Nations declaration by the 5 founding members, Indonesia, Malaysia, Philippines, Singapore and Thailand 57 years in the past. The physique now has 10 members
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US: San Diego Zoo’s Panda Ridge officially welcomes its two latest members, Xin Bao and Yun Chuan
Friday
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The Japan Meteorological Company forecasts the opportunity of the El Niño climate sample forming, which is commonly linked to heavy rainfall and droughts and may hit the manufacturing of important meals equivalent to rice, wheat and sugar
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US: fiftieth anniversary of President Richard Nixon leaving workplace, a day after saying his resignation on tv and radio, amid the Watergate scandal
Saturday
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UK: Divest for Palestine convention in London, demanding that native councils, universities, cultural establishments and monetary establishments minimize their ties with and divest their funds from corporations which can be arming and supporting Israel
Sunday
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France: Paris 2024 Olympic Video games, remaining day and shutting ceremony of the thirty third Olympiad. The Paris 2024 Paralympic Video games start on August 28
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US: American ban on the importation of Russian uranium takes impact.
