Business

Live news updates: Asian markets fall as interest rate concerns persist

The long hot summer is coming to an end. And while solutions to the current economic and political conflict seem far from resolved – the UK’s summer of discontent, for example, is turning into a autumn of industrial unrest – we will enter a new leadership season in the next seven days.

UK Conservative Party leadership election will (finally) be completed by Monday. Unless the data probe is incorrect, Liz Truss will claim the prize and name it new cabinet. FT will provide full analysis of these events.

Switzerland Magdalena Andersson hopes to be reappointed prime minister when her country goes to the polls on Sunday. Like both outgoing and incoming British prime ministers, Andersson came to power chaotic situation after her party had ruled the country for several years. Unlike the British Prime Minister, Andersson is more popular than her party and her opponents. However, this election is much closer to being called than the Conservative vote in the UK.

US President Joe Biden will be very confused with the midterm elections in November on his mind. The week will end with reflection for the United States as it passes the 21st anniversary of the 9/11 attacks.

Another Conservative leadership election will also end this Saturday, in Canada. The contest – which began in February with the resignation of Conservative leader Erin O’Toole – makes Britain’s Tory leadership contest seem a bit rushed. But Canada’s Conservatives have the luxury of taking their time because whoever wins won’t get to run the country right away.

Economic data

The week will begin with an Opec+ meeting. Saudi Arabia last month warned it could promote a cut oil production if prices continue to fall.

The European Central Bank’s Monetary Policy Committee meets on Thursday. The euro area unemployment rate fell last week spurred speculation that the central bank will accelerate its tightening cycle to rein in eurozone inflation by 0.75 percentage points.

There’s also inflation and trade data from China, industrial production data from Germany, employment data from Canada and international service sector comparisons with the latest round of index data from other countries. purchasing manager. The holiday is officially over.

It’s Labor Day on Monday, which means US markets will be closed.

Companies

Apple Launched its new iPhone lineup.

Among those expected to deliver some pretty positive news are Ashtead, equipment rental group. Supply chain constraints and economic uncertainty have pushed companies to lease equipment from Ashtead instead of buying it, chief executive Brendan Horgan said in June.

According to Steve Woolf at investment bank Numis, this will be further enhanced by a series of infrastructure projects coming up. “The medium-term outlook is supported by infrastructure spending, with a large number of large-scale projects set to break ground over the next 12 to 18 months,” he wrote.

Read the calendar a week in advance here.

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