This week affords one in every of 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 incumbent Deputy President William Ruto, 55, and Raila Odinga, a 77-year-old veteran of such campaigns, on his fifth try on the high job. Relations with China, which has invested closely within the nation in current many years, elevating issues amongst Kenyans, has turn into a key battleground for the marketing campaign.
The standard rule of incumbent benefit was reversed after Ruto tangled with incumbent President Uhuru Kenyatta, who in flip threw his weight behind Odinga. Consequently, the competitors is now broad open, in accordance with the FT’s Africa editor David Pilling. Additional FT commentary on the Kenyan ballot, which may even embrace elections for parliament and 47 native assemblies, will probably be posted because the outcomes are available in.
Consideration will flip this week (once more) to a big early ballot: the 2020 US presidential election. Rudy Giuliani, the previous New York mayor turned private lawyer for former President Donald Trump, has been ordered by a choose in New York to testify Tuesday earlier than a grand jury investigating makes an attempt by Trump supporters to overturn the outcomes of Georgia’s 2020 election.
It is a sign of the risk the Georgia grand jury probe poses to Trump and people round him, extra so some imagine than the Jan. 6 congressional panel investigation into the 2021 assault on the Capitol.
In different information, Britain’s Summer time of Discontent over post-lockdown pay awards is grinding to a halt this week, with as much as 120 Crimson Funnel staff on the Isle of Wight ferry kicking issues off with a walkout on Tuesday. Greater than 1,00zero workers at Armagh Metropolis, Banbridge and Craigavon Borough Council, one in every of Northern Eire’s largest native authorities, will go on strike on Wednesday, which can have an effect on waste assortment, planning and leisure providers.
It is going to be the flip of Glasgow Subway staff on Friday, a selected inconvenience for Rangers followers on a match day, adopted by (one other) nationwide rail strike by Aslef prepare drivers at 9 rail firms on Saturday.
On the brilliant aspect, and God is aware of we want it, Tuesday marks the beginning of British faculty examination outcomes season, with Scottish college students hoping to obtain information that they have the Excessive College and Superior Excessive College grades to safe college and school locations.
This was the primary yr that college students have taken exams for the reason that pandemic, so count on this to be mentioned as a think about any grade college students obtain. There may even be an opportunity for a faculty report on the efficiency of the Scottish Nationwide Occasion in working schooling north of the border.
The primary financial information this week will probably be inflation information from the US and China, plus Britain’s first hit to its second-quarter gross home product determine.
We may additionally get some indication of the long run motion of gasoline costs with the month-to-month oil market studies from the Power Data Administration and OPEC. The rising probability of a recession and, by extension, oil demand issues will affect these updates, although provide stays very tight.
Like the vacation tan, the frenzy of firm earnings bulletins fades for one more season. The dominant theme will probably be insurance coverage firms, offering additional proof of the injury brought on by inflation to the sector, significantly motor insurers, as the value of components and different claims prices rise sharply.
After July revenue warnings for Direct Line and Sabre, all eyes will probably be on Admiral’s half-year outcomes on Wednesday to see if its profitability and steerage can stand up to the inflationary risk.
The opposite main gamers are Aviva and Zurich. “They are going to present extra proof of how the most important and most diversified teams are doing in a interval of rising rates of interest and a worsening financial outlook,” says my colleague, the FT’s insurance coverage correspondent Ian Smith.
Learn subsequent week’s full schedule right here