For those of us trying to get into (or keep up with) work, however, this is not going to be a week for celebrations. French rail workers will go on strike on Wednesday, days before the start of the country’s school holidays. Then there is the unfolding drama of the British summer of discontent. Solicitors in England and Wales will continue their ‘crime doesn’t pay lawyers’ strike tomorrow. On Tuesday, bank regulators will join the Financial Conduct Authority — represented by Unite — who are again walking out in defiance of their latest pay offer. In addition, the range of workers taking action is increasing. Also on Tuesday, Whirlpool washing machine makers will vote to strike over what union bosses have described as an “insulting” pay offer. This seems like a good point to mention that the Financial Times is conducting research into the cost of living — how do you cope with higher prices? To participate click here. After last week’s NATO summit in Madrid, the focus of Western efforts to help Ukraine this week will turn to Lugano in Switzerland. The Ukraine Recovery Conference is the latest in a series of high-level political gatherings first held in London in 2017, initially to discuss reforms that could open up foreign investment in a time of relative peace for the nation. Russia’s invasion has given new urgency to such support. Is there anything to lighten the mood? Well, the summer season has begun — and by that I mean the FT Live summer season of inspiring talks and gatherings. This Thursday’s event, Capitalizing On Disruption To Create Business Opportunities, is free and you can do so by clicking here. Sainsbury’s trading update will actually be a repeat of Tesco’s a few weeks ago © Neil Hall/Reuters
Financial data
The key question for now is whether, or in some cases, when, the major Western economies will go into recession. A series of business surveys this week will highlight areas of concern for business owners. Also closely watched will be the minutes of the Federal Reserve’s latest rate-setting meeting on Wednesday and the US labor market report on Friday.
Companies
We’re in for another week of UK corporate news, dominated by retailers. J Sainsbury’s trading update on Tuesday will effectively be a repeat of Tesco’s a few weeks ago, as it too has made a strategic decision to accept lower prices that will cut profits in order to retain customers. Currys could be quite interesting given that the UK electronics retailer is the clear market leader, but its market capitalization has shrunk, margins are tight and there’s a sense that the pandemic was the company’s high-water mark. Read the full calendar for the week here
