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Hello, welcome to work week.
The American British (like American cousins) will start the next seven days from the holidays. But he is not King Charles. He has something to do in one of the other areas and there is a lot of local excitement about this. Charles is set to become this century (and his first monarch in 50 years) and is planning to make history by dealing with the opening of a parliamentary nation in Ottawa, setting the legislative agenda for Canada’s newly elected prime minister, Mark Carney.
The King’s health during the trip was a local talk ahead of his two-day state visit, but more importantly, there are concerns about whether (at least constitutionally) his speech will deal with the elephant in the room (Donald Trump), and how the US president, known to be a royal fan, will respond. Charles and Queen Camilla perform their usual royal duties, including planting trees, seeing 28 horsepower escorts in military honors, and, a little more unusual, taking part in street hockey games.
The official state openings offer Kearney, who has so far offered a chance to shine at home with his first big domestic set piece, with big things like visiting the White House.
As the next president is decided in Sunday’s leaked vote, election attention will focus on Poland. The contest was turned into a cliffhanger after Warsaw pro-Eu mayor Rafau Truzaskovsky secured an unexpected narrow victory over nationalist candidate Karol Nowrocky in the first round. This week’s vote could be determined by two-fifths of voters who chose candidates who failed to leak.
The results are a major consequence for the EU and the central right-hand Prime Minister Polish, Donald Task’s reform agenda. Now Rocky’s victory could increase the collapse of the Task’s Union government in 2027 and his return to power in Euroskeptical Law and Justice (PIS).
This week, the company’s results will be trickle this week. This is because US financial markets are closed on Monday for anniversary.
However, corporate news can be generated by senior executives speaking at conferences. To give an example, Boeing CEO Kelly Autoberg is one of those working on Thursday’s Bernstein Strategic Decision Meeting. He is expected to cover several issues that have been making headlines recently, including the 737’s production stability, as well as the 777X, F-47 fighter jets and the outlook for the Air Force 1.
Central bankers are also effective at speaking circuits. There are limited economic data, particularly EU Nation Inflation Reports and quarterly GDP estimates (and updated estimates) from the US, Canada, France, India, Brazil and Turkey. Although these will be monitored, G7 bond market trends, national and geopolitics will likely continue to be a comprehensive impact on market sentiment. More details are below.
One more thing. . .
In a newsletter about last Wednesday’s Europa League final, some of you noticed an obvious lack of comment. As a long-time/suffering Spurs fan, I’ll admit that I didn’t want to jinx it. Perhaps it worked. But there was also the fact that as European football season reached its climax, this felt like a much stronger news week for a beautiful game. On Saturday, Munich will host the Champions League final between France’s Paris Saint-Germain (who has never won this trophy) and Inter Milan. This is the 70th edition of Europe’s largest club football tournament. If you want more FT insights into the business of soccer, read this.
Thank you for your feedback on this newsletter. Email jonathan.moules@ft.com or if you’re reading this from your inbox, please click reply.
Major Economy and Company Reports
Here is a more complete list of what you should expect from a company’s report and economic data perspective this week.
Monday
Spain: April Producer Price Index (PPI) inflation rate data
UK: Bank holidays in late May. Financial markets have been closed
USA: Anniversary public holidays. Financial markets have been closed
Tuesday
Japan: April Service Producer Price Index (PPI) inflation rate data
UK: The UK Retail Consortium may shop price indexes. Also, Adzuna Job Market Report
US: Conference Committee Consumer Trust Index
Results: Autozone Q3, Soitec Fy
Wednesday
OPEC and non-OPEC Ministerial Oversight Committee Meetings to confirm oil production power policy
Australia: April Consumer Price Index (CPI) inflation rate data
France: First Quarter GDP Estimates and PPI Inflation Data for April
Germany: Labor Market Figures for April
US: Federal Open Market Committee meeting minutes have been published
Results: Agilent Technologies Q2, AroundTown Q1, C&C Group FY, Grosvenor FY, HP Q2, Kingfisher Q1 Trading Update, Nvidia Q1, Pets at Home FY, Salesforce Q1
Thursday
Boeing CEO Kelly Autoberg will speak at the Bernstein Strategy Decision Meeting. Other executives participating include Doug Ostermann, Chief Financial Officer of Stellantis, and John Waldron, President and Chief Operating Officer of Goldman Sachs.
UK: Bank of England April Capital Issuance Statistics
US: Second Quarter GDP Estimates
Results: Auto Trader FY, Bath & Body Works Q1, Best Buy Q1, Costco Wholesale Q3, Dell Technologies Q1, Gap Q1, Hollywood Bowl HY, Nationwide Building Society FY, Royal Bank of Canada Q2
Friday
Australia: Retail sales in April
Brazil: Q1 GDP estimate
Canada: Q1 GDP estimate
Germany: Consumer Prices Harmonized with CPI (HICP) Inflation Rate Data
India: Q4 GDP estimate
Türkiye: Q1 GDP estimate
US: Personal income and expenditure data for April
World events
Finally, we’ll give you an overview of other events and milestones this week.
Monday
Australia: Sorry about the nationwide but to commemorate the forced Aboriginal children from parents
Canada: King Charles and Queen Camilla begin a visit to a country where he remains head of state
Malaysia: The 46th ASEAN Summit will be held in Kuala Lumpur
Romania: Romanian presidential election Nicoadan is expected to be sworn at a ceremony at the Capitol of the Parliament in Bucharest
Tuesday
Belgium: EU Council meeting in Brussels. The agenda includes ways to simplify and strengthen the carbon border adjustment mechanism, preparation for the Council of Europe meeting in June, and Spain’s demands to include Catalan, Basque and Galician in the EU language regime regulations.
Canada: King Charles deals with the opening of parliamentary states in Ottawa.
Indonesia: French President Emmanuel Macron and his wife will begin a two-day state visit to Southeast Asian countries, promoting trade agreements and promoting France as a reliable alternative to US-China rivalry
US: The 2025 Spellbee Competition begins with a spare round airing from Gaylord National Resort & Convention Center in National Harbor, Maryland. The winner will be crowned in Thursday’s final
Wednesday
600 days after Hamas-Israel conflict began, after Hamas launched an attack on Israel on October 7, 2023
UK: New rules will be enacted to cover serious misconduct in police in England and Wales. Data obtained by the FT shows that London metropolitan police settlement payments for illegal act cases have more than doubled in fiscal year 2023-24 to £7.6 million.
Thursday
Ascension Day, Christian Holidays celebrated in many countries
UK: The 75th anniversary of the first pilot episode of The Shooters airing on BBC’s Midlands Home Service. Set in the fictional village of Umbridge, the show is now the longest running soap opera in the world.
US: Former Goldman Sachs partner Tim Reissner is set to be declared in federal court in Brooklyn and pleaded guilty to a charge of corruption to his role in supporting billions of dollars from Malaysia’s 1MDB Development Fund. Raisner testified at the April 2022 trial of Roger Ng, former managing director of Goldman Sachs.
Friday
Singapore: The dialogue between the major Asian Defense Summit, IISS Shangri-la, begins. The three-day gathering will include discussions on the region’s most pressing security challenges
Saturday
Anglo American Platinum’s Anglo American Demerger is expected to be effective after receiving shareholder approval at its general meeting in April.
Germany: UEFA Champions League Finals in Munich
Sunday
According to weather seasons, the first day of summer in the Northern Hemisphere
OPEC+ Eight major countries meetings will consider market conditions, suitability and compensation and determine production levels for July
Poland: Presidential election leaked vote
UK: Disposable steam sales ban is enforced
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