This week presents one in all Africa’s most vital votes this yr as Kenyans go to the polls on Tuesday to determine a brand new president.
The competition is between the present deputy president William Ruto, 55, and Raila Odinga, a 77-year-old veteran of such campaigns now on his fifth try on the high job. Relations with China, which has invested closely within the nation over current a long time, elevating issues amongst Kenyans, have change into a key battleground for the marketing campaign.
The same old rule of benefit to the incumbent has been flipped after Ruto fell out with the present president Uhuru Kenyatta, who has in flip thrown his weight behind Odinga. Because of this, the competition is now large open, based on the FT’s Africa editor David Pilling. Additional FT touch upon Kenya’s ballot, which may also embrace elections for parliament and 47 native assemblies, will likely be posted as outcomes are available in.
Consideration may also flip this week (as soon as once more) to a earlier vital ballot: the 2020 US presidential election. Rudy Giuliani, the previous New York mayor turned private legal professional to former president Donald Trump, has been ordered by a New York decide to testify on Tuesday in entrance of a grand jury investigating makes an attempt by Trump supporters to overturn Georgia’s 2020 election outcomes.
It is a sign of the risk the Georgia grand jury probe poses to Trump and people round him, better some consider than the congressional January 6 committee investigation into the 2021 Capitol assault.
In different information, the UK’s Summer time of Discontent over post-lockdown pay awards grinds on this week with as much as 120 Pink Funnel workers on the Isle of Wight ferry kicking issues off with a walkout on Tuesday. Greater than 1,000 workers at Armagh Metropolis, Banbridge and Craigavon Borough Council, one in all Northern Eire’s largest native authorities, will maintain a strike on Wednesday, affecting refuse assortment, planning and leisure companies.
On Friday will probably be the flip of Glasgow Subway employees, a specific inconvenience for Rangers followers on a match day, adopted by a (nother) nationwide rail strike by Aslef practice drivers at 9 rail firms on Saturday.
On the brilliant facet, and goodness is aware of we’d like it, Tuesday kicks off the British faculty examination outcomes season with Scottish college students hoping for information that they’ve the required grades in Highers and Superior Highers to safe college and school locations.
This has been the primary yr of scholars sitting exams for the reason that pandemic so anticipate this to be mentioned as a think about no matter grades college students will obtain. It can even be an opportunity for a faculty report on the Scottish Nationwide occasion’s efficiency working training north of the border.
Financial information
The headline financial information this week will likely be inflation information from the US and China, plus the UK’s first stab on the second-quarter gross home product determine.
We might additionally get some indication of the long run motion of gasoline costs with the month-to-month oil market reviews from the Vitality Info Administration and Opec. The rising chance of a recession and, by extension, oil demand issues will have an effect on these updates regardless of provide remaining very tight.
Corporations
Like the vacation tan, the push of firm outcomes bulletins is fading for one more season. The dominant theme will likely be insurance coverage firms, offering additional proof of the injury being performed by inflation to the sector, particularly motor insurers, as the worth of components and different claims prices rise sharply.
After July revenue warnings for Direct Line and Sabre, all eyes will likely be on Admiral’s half-year outcomes on Wednesday to see whether or not its profitability and steering can stand up to the inflationary risk.
The opposite notable gamers are Aviva and Zurich. “These will present extra proof of how the most important, diversified teams are faring in a interval of rising rates of interest and a worsening financial outlook,” says my colleague, FT insurance coverage correspondent Ian Smith.
Learn the total week forward calendar right here