Live News Update: Japan’s economy accelerates after easing of Covid restrictions

Live News Update: Japan’s economy accelerates after easing of Covid restrictions

Afghanistan has two anniversaries coming up. Friday is Independence Day, commemorating the signing of the Rawalpindi Treaty in 1919, by which Britain gave Afghanistan self-determination in its foreign affairs. However, most will be more concerned about Monday, which marks one year since the Taliban regained control.

This week also marks the 75th anniversary of the British withdrawal from the Indian subcontinent, marking the partition of India and Pakistan. Indian Prime Minister Narendra Modi will address the nation from the historic Red Fort in Delhi with a focus on the problems in Kashmir, the only Muslim-majority state.

For British schoolchildren, it’s all about the present as students in England, Wales and Northern Ireland receive emails and envelopes with A-level and vocational exam results on Thursday. The task of getting accepted and finding university places through the clearing process will then begin in earnest.

As with advanced higher exam results announced for Scottish students last week, A-level results are expected to be down on last year but likely up on pre-pandemic years. Exam body AQA said papers would be more generously marked to reflect a return to normal testing conditions.

Britain’s summer of discontent will be marked by another national rail strike this week, exacerbated by a blanket shutdown of London’s public transport networks. Next Sunday, more than 1,900 workers at Britain’s biggest container port, Felixstowe, are due to strike, plus we have another week of criminal barrister strikes in courts in England and Wales, with no resolution in sight.

We are about to take a significant a step forward in NASA’s Artemis space program. The mission aims to land the first female and minority astronaut on the moon, preparing for a long-term presence on the moon and providing a springboard for sending humans to Mars. NASA plans to live-stream the transfer of the Artemis 1 rocket to the launch pad on Wednesday with the goal of completing the liftoff by the end of the month.

Economic data

Inflation watchers will be busy this week with news from the EU, Japan and Canada, plus Wednesday’s release of the latest minutes from the Federal Open Market Committee meeting may give some indication of the Fed’s willingness to tighten monetary policy.

It will also be a busy week for UK economic news with figures on employment, inflation, productivity, retail sales, consumer confidence and house prices. Everyone is likely to get comments on the state of UK plc.

Companies

This week we come to the end of the current reporting season with results from a group of retailers who are either exclusively online or have benefited greatly from e-commerce, particularly Walmart on Tuesday, Target and Tencent a day later, and AO World on Thursday.

AO World is trying change your business model away from growing sales to building and maintaining margins. The problem for such retailers as we enter the economic slowdown will be maintaining sufficient sales demand.

Read the calendar for the entire week in advance here.



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