Aerial photo of Irpin, northwest of Kyiv. The city was hit by shelling © AFP via Getty Images
The conflict in Ukraine is certain for news events this week, but activities will largely be off the agenda – except for events such as the UK reopening its embassy in Kyiv – over the next seven days. Somewhat ironically, there is a long list of other anniversaries of the war this week, from Anzac Day on Monday to Saturday’s Vietnam Liberation Day. A reminder that peace is an unattainable dream for this world in modern times.
At the same time, we are in a kind of insignificant holiday season. Easter, Orthodox or otherwise, is gone and this coming Sunday heralds the various May Day celebrations around the world.
On Sunday night, Emmanuel Macron defeated Marine Le Pen in the French presidential election, with the current president’s far-right rival stepping down shortly after initial predictions showed he won more than 58 percent of the vote. Expect the Financial Times for analysis this week.
Descendants of Australian servicemen hold a wreath-laying ceremony. This year marks 107 years since the Gallipoli conflict © REUTERS
Economic data
This is a pretty full week of economic news with inflation data for France, Germany and the eurozone, as well as first-quarter GDP forecasts for the eurozone, the United States, Korea, France, Germany, Italy and Spain plus an interest rate decision from the bank. of Japan.
The conflict in Ukraine is having an immediate and long-term impact on the global economy, as the IMF stressed last week when it cut growth forecasts for many countries.
The new world order was described by Pierre-Olivier Gurinchas, the IMF’s chief economist, in an interview with the FT. “If we become a world of many different blocs, we will have to eliminate many of the integrated economies we have built and the supply chains we have built. . . and build something else that is narrower [and] smaller in scope, “he said.
“There will be costs for correction [and] there will be a loss of efficiency and this may lead to an increase in unit costs, as things are not being done as efficiently as before. ”
Companies
This week will be a week for corporate profit maniacs. Big Tech has a good pandemic. The question now is whether Meta, Alphabet, Amazon.com, Microsoft or Spotify can maintain their strong growth rates. After a shocking drop in Netflix subscribers last week, investors are undoubtedly nervous, although, as noted, there is a difference between a company focused entirely on streaming TV and film shows and other technology businesses.
Apple’s golden child can now pose as a Hollywood player after winning the top Oscars, but investors are worried about its ability to deliver a new technology kit amid a wave of blockages at several of its Chinese manufacturing centers. The next iPhone model won’t create itself, you know. Morgan Stanley analysts say Wall Street’s consensus forecast for the June quarter of $ 86.7 billion (up 6 percent year-on-year) “looks high,” given CEO Tim Cook’s typical caution when it comes to question for guidance.
Read the calendar for the rest of the week ahead here
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