Hello, and welcome to The Week Ahead from the Financial Times
in London.
Here are some of the big stories we'll be watching this week.
The US brings out its latest jobs data,
Greece goes on strike, India's President Modi
takes a strategic trip to Indonesia,
and online retailing is set to shake up the leading share
index, the FTSE 100.
Despite a holiday-shortened trading
week, the US economic calendar is
busy with updates on growth, jobs, inflation, manufacturing,
and consumer spending.
As the Fed charts its course for monetary policy this year,
the data should help give policymakers
a better picture on its dual mandate of maintaining
stable prices, as well as maximum employment.
Mamta Badkar has this analysis.
The US jobs report out on Friday will provide a fresh snapshot
of the labour market, and wages will once again grab
the spotlight.
Economists have argued that as unemployment continues to fall,
wages should firm up as employers boost salaries
to hire and retain employees.
But recent data has showed that while the US unemployment rate
has fallen to the lowest since Bill Clinton was president,
the move has come as the labour force participation rate has
declined.
Friday's report is expected to show wage growth heated
up again in May while the unemployment rate remained
unchanged at about 3.9%.
The scrutiny comes as markets weigh up
whether the Fed will lift interest rates a total of three
or four times this year.
Data at present suggests that there is further slack
in the jobs market.
Moreover, the Fed has for now indicated
that it will not overreact to a run of higher inflation
readings.
Greece's two biggest trade unions, ADEDY,
which represents public sector workers,
and the General Confederation of Labour,
a nationwide umbrella union, will stage a 24-hour strike
on Wednesday.
Union officials said the joint walkout
will be a protest against continued austerity,
high unemployment, and overtaxation.
ADEDY members are also protesting against the decision
by the leftwing Syriza government
to carry out evaluations of civil servants
for the first time.
These surpass the current bailout agreement with the EU.
The strike comes just a few days before parliament
is due to legislate a final package of reforms
agreed with Greece's creditors.
The measures must be in place for the country to exit its
current 86 billion euro programme in late August,
bringing to an end eight years of bailout programmes
supervised by the EU and the International Monetary Fund.
Jean-Claude Juncker, European Commission president,
spoke in Greece in late April about the bailout.
The leftwing Syriza government is increasingly anxious
to get a deal on debt before the bailout ends
and make a smooth return to borrowing
on international capital markets.
Investors are anticipating key changes to the UK retail sector
line-up.
When the composition of the FTSE index
is announced on Wednesday after a quarterly review,
companies included reflect Britain's changing High Street
landscape and sustained pressure on it
from online retail groups.
At the December review of the indices,
the shopping shift was reflected by takeaway website Just
Eat's move to the FTSE 100 index after its stock market value
surpassed supermarket chain Sainsbury's.
Daniel Thomas has more.
This week, we see the quarterly reshuffle
of the FTSE 100, where the top 100 companies get
chosen by their market cap.
It's really interesting this time around,
because we have Marks & Spencer versus Ocado, the old retailer
versus the new retailer.
Marks & Spencer, the stalwart of the High Street,
which has had to restructure its business
in order to regain ground and to restore its fortunes versus
Ocado, this great, great stock at the moment, which
has struck a fantastic deal with North America
and really catapulted its share price as a result.
So this really represents the changing face of the British
High Street - the old versus the new, the online
versus the offline.
And really, it'd be fascinating to see if Ocado really can take
over Marks & Spencer this week.
And Indian Prime Minister Narendra Modi
is trying to strengthen ties in southeast Asia
as a counter to China, and to that end
is set for a three-day visit to Indonesia
to strengthen maritime co-operation with New Delhi's
longtime friend.
During his trip, Mr Modi and his Indonesian hosts
are expected to sign an agreement that
will give India access to port facilities
on the Indonesian island of Sabang,
a part of Aceh province.
Located around 175 kilometres southeast of Asia's own Andaman
and Nicobar Island chain, Sabang sits along the northern end
of the busy Malacca Strait, the critical shipping
lane that links the Indian Ocean to the Pacific Ocean.
India and Indonesia share both ancient cultural ties
and a strong, modern friendship forged
by their first post-independence leaders.
And that's what the week ahead looks like from the Financial
Times in London.
Goodbye.