This week brings up one of Africa’s most important votes this year as Kenyans go to the polls on Tuesday to decide on a new president.
The contest is between incumbent Vice President William Ruto, 55, and Raila Odinga, a 77-year-old veteran of such campaigns who is currently making his fifth attempt to land the top spot. Relations with China, which have invested heavily in the country in recent decades, which have raised concerns among Kenyans, have soured. an important battlefield for the campaign.
The usual rule of incumbent advantage was overturned after Ruto fell to current president Uhuru Kenyatta, who threw his weight behind Odinga. The result is, The contest is now open, according to FT Africa editor David Pilling. FT commented more on From Kenya The exit poll, which will also include parliamentary elections and 47 local councils, will be announced when the results are available.
Attention will also turn this week (again) to an earlier key poll: US presidential election 2020. Rudy Giuliani, the former New York mayor turned personal attorney for former president Donald Trump, has been ordered by a New York judge to testify on Tuesday before a grand jury investigating efforts by Trump supporters to overturn Georgia’s 2020 election results.
It’s a sign of the threat the Georgia grand jury investigation poses to Trump and those around him, some of whom believe more than Congress. Investigative Committee January 6 in 2021 attack the Capitol.
In other news, UK Dissatisfied summer this week, lockdown postpaid awards will take place with up to 120 Red Funnel employees on the Isle of Wight ferry kicking things off with a walkout on Tuesday. More than 1,000 staff at Armagh, Banbridge and Craigavon City Council, one of Northern Ireland’s largest local governments, will hold a strike on Wednesday, affecting waste collection, planning and scheduling services. and entertainment.
On Friday, it will be the Glasgow Underground workers’ turn, a particular inconvenience for Rangers fans on a match day, followed by a national rail strike. driving Aslef trains at nine railway companies on Saturday.
On the bright side, and good to know we need it, Tuesday kicks off the UK school results season with Scottish schoolchildren hoping for news that they have the required grades in schools. College and Advanced to secure admission to university and college.
This is the first year students have had to test since the pandemic hit, so expect this to be discussed as a factor in any grades a student will receive. It will also be an opportunity for the school to report on the achievement of the Scottish National party in running education north of the border.
Economic data
The headline economic news this week will be inflation data from the US and China, plus the UK’s first stab at second-quarter gross domestic product numbers.
We can also get some indication of future movements in fuel prices with monthly oil market reports from the Energy Information Administration and Opec. The possibility of a recession is increasing and, in general, oil demand concerns will weigh on these updates although supply remains tight.
Companies
Like the holiday break, the rush of corporate earnings announcements is fading for another season. The key theme will be insurers, providing more evidence of the damage caused by inflation to the sector, particularly motorcycle insurers, as the price of parts and claims usually increased sharply.
After July profit warnings for Direct Line and Saber, all eyes will be on Admiral’s half-year results on Wednesday to see if profits and its guidance can hold up. inflation threat or not.
Other notable players are Aviva and Zurich. “These should provide further evidence of how the largest, diverse groups are performing in times of rising interest rates and deteriorating economic prospects,” said my colleague, FT insurance reporter. , said Ian Smith.
Read the calendar a week in advance here
