By-Election Drama, BOE Conference, Cricket: Sunday UK Briefing
(Bloomberg) -- Hello again. Here’s what we’re talking about heading into the new week.
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The big vote: It’s another by-election week, but with a twist. This time Labour is set to lose a seat in Parliament after pulling support from its candidate in Rochdale, over allegedly antisemitic remarks. Meanwhile, former deputy Tory party chairman Lee Anderson was suspended Saturday over his claim that London Mayor Sadiq Khan is controlled by “Islamists.”
The big speakers: The next rate decision is a few weeks away, but we’ll get updated commentary this week from Bank of England officials. Central bankers including Governor Andrew Bailey will be out in force Monday and Tuesday at the bank’s research conference, known as BEAR. Research director Huw Pill, whose most recent comments suggested a rate cut is still months away, caps off the week with a speech at Cardiff University on Friday.
The big report: A year-in-the-making study on housebuilding in England, Scotland and Wales by the Competition and Markets Authority will be released on Monday. It’s likely to focus on the use of land banks and how planning rules may be impacting competition in the sector and the delivery of new homes. Separately, Katherine Griffiths reports that a new cross-government panel led by Chancellor Jeremy Hunt will focus on how to boost investment by cutting red tape.
The big gathering: G-20 finance ministers and central bankers meet in Sao Paulo Wednesday and Thursday. The impact of wars in the Ukraine and the Middle East on the global economy — and on the G-20 itself — will be among a number of contentious topics.
The big reversal: London’s Heathrow airport may shelve plans to add a third runway and will examine other options to handle more passengers, the Sunday Times reported. The airport, which saw passenger numbers increase by about 29% to 79.2 million last year, may increase the use of buses to deliver passengers to their aircraft. The third runway plan for Heathrow has been snarled for years by legal challenges and opposition from local residents. Heathrow says no decision has been taken.
The big earnings: Aston Martin, iconic sportscar maker for James Bond, will be under pressure to present a turnaround plan after years of losses when it reports results on Wednesday. The company’s large debt pile and bloated cost structure could make it an uphill climb. Other earnings of note include the brewing giant Anheuser-Busch InBev on Thursday, and Italian drinks maker Campari on Tuesday.
The big party: Finally there’s a night where political differences can be set aside in the pursuit of a common goal: choosing the best kebab. And that night is Tuesday, at the 12th British Kebab Awards, which will recognize excellence in an industry worth over £2.2 billion to the economy.
The big collapse: It’s not over, but the England cricket team likely squandered a potential comeback after last week’s big loss to India. A second-innings collapse on Sunday squelched England’s chance to set India a formidable target, and the home team quickly got its knock started before stumps. India will need 152 more runs on Monday, with all wickets intact, to win the match and the series.
ICYM our Big Take: The world is losing its fight against malaria, a disease that has a devastating toll in Asia and Africa and is showing up in developed countries like the US. Bloomberg reporters Anna Edney and Michelle Fay Cortez look at how a change in anti-malarial bed nets — a cheap and durable protection against the disease — taken more than a decade ago has had deadly consequences.
And finally, Robert Pickering, former chief executive of the private investment bank Cazenove, joins hosts Francine Lacqua and David Merritt on the In the City podcast to complain that “too many regulations” are getting in the way of snaring top talent in a hot global market. Pickering also discusses his book Blue Blood: Cazenove in The Age of Global Banking and reflects on the changes he’s seen across the City.
Have a good week and see you on the other side.
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