A peak week for Big Tech


World updates

This article is an on-site version of our The Week Ahead newsletter. Sign up here to receive the newsletter sent directly to your inbox every Sunday

Welcome to the work week.

The holiday season could be subdued this year because of coronavirus, but the holiday season feels like it always is and this week we are in full swing with a particular focus on tech and banking companies. More on that below.

July 2021 was formed as a month of races. But we are in the last week. After the battle of the billionaires, it is the turn of the governments this week, with the Ariane 5, supported by the EU, which will return in flight after being put on the ground. Success will be greeted with relief – the European project has struggled lately to maintain its leading position in space exploration – and perhaps talk of moving forward with Ariane 6.

There is another race out there: the one to get the world vaccinated against Covid-19. Monday is the deadline set by a Brussels court for AstraZeneca to honor its contractual obligations to supply the first 15m of the 50m vaccines ordered by the EU. AstraZeneca will have to pay € 10 for a dose not delivered. It won’t be the end of the matter, though explains this analysis of the timing of the court’s decision.

At the end of this week Simon Stevens will resign from the post of NHS Executive Director in England, which I mentioned because of this. his Lunch with the FT this weekend is this revealing scoop we had Friday.

Before I go through the company reports, I have to say a big thank you to all of you who sent me an email – to jonathan.moules@ft.com – with your friendly comments on the new format of The Next Week. Rishi Zaveri, founder of post-graduate loan provider Lendwise, who says he has been an FT reader “since the beginning of time” said he appreciates “personality and character”. If you want a little more, or less, let me leave a line.

Company

Coronavirus has paid off at several parties this year, but not the first topic of conversation at these internal meetings: moving house. Expect to hear more about this both in economic data announcements and in company reports this week.

A boom in property sales it is seen as the only bright spot for retail banks NatWest and Lloyds. Analysts have been looking to see if the increased volume of mortgages is enough to offset the decline in consumer lending and new business loans.

Spanish banking giant Santander hopes to profit from improved performance in the UK, where it is a major mortgage lender, while a market for second-hand used car benefits should benefit its business in the US and help to compensate for the weakness in other countries. The bank, which has traditionally focused on retail and corporate lending, will also hope to demonstrate further progress in extending its investment banking arm.

Earlier this month, Wall Street said bank revenues almost record amid a boom in M&A, private equity acquisitions and capital market issuance. Wednesday, it’s the turn of its European counterparts – Barclays and Deutsche Bank – which is supposed to follow widely. Both have experienced a “good” pandemic, in the sense that persistent questions about the viability of their highly maligned investment banking weapons have been temporarily silenced as profits increased in turbulent markets.

Credit Suisse is an unhappy story. The Swiss creditor is in crisis after suffering two scandals in rapid succession: the closure of $ 10 billion of funds linked to Greensill Capital and the collapse of Archegos Capital, which caused losses of $ 5.5 billion. Thursday, all eyes will be fixed new chair António Horta-Osório, tasked with leading the 165-year-old bank illness through chaos.

The other big topic of this week’s reporting calendar will be technology companies. The latest quarterly earnings from Big Tech will be highlighted an uncomfortable truth for the world’s regulators looking at flapping its wings: As they gain their digital dominance emerging from the pandemic, major U.S. technology companies record their strongest growth rates in years.

Wall Street expects Apple, Microsoft, Amazon, Alphabet and Facebook to report a combined jump of $ 72 billion in revenue for the second quarter compared to the same period a year earlier. That’s a stupid 30 percent increase. It may not correspond to the first quarter of this year, when Apple alone announced a 54 percent increase in sales on the back of its first iPhone 5G, but it will also put other industries in the shadows.

A likely point from recent earnings reports: Google and Facebook ads are expected to show a 50 percent jump in revenue, underscoring their dominance of Internet advertising at a time when companies of all backgrounds types have become much more dependent on digital channels to reach their customers.

Economic data

There is a busy data calendar, focused on consumer confidence, house prices and unemployment data. In the UK, we will get some details on the impact of coronavirus work retention schemes from data published by the HMRC tax authority.

Key economic and business reports

Here’s a more complete list of what to expect in terms of company reports and economic data this week.

Monday

  • Tesla Q2

  • Hasbro Q2

  • Heathrow H1 Airport

  • LVMH H1

  • Michelin H1

  • Philips Electronics Q2

  • Ryanair Q1

  • Tata Motors Q2

  • Lockheed Martin Q2

Tuesday

  • The United States, the Federal Housing Finance Agency publishes a monthly index of house prices

  • The United Kingdom, the Office for National Statistics publishes figures for trade in services

  • 3M Q2

  • AMD Q2

  • Apple Computer Q3

  • Dassault Systems Q2

  • German Stock Exchange Q2

  • Croda International H1

  • Alphabet H1

  • JetBlue Q2

  • Seccu H1

  • Mitsubishi Motors Q1

  • Mondelēz International District 2

  • Starbucks Q3

  • Telecom Italia Q2

  • Virgin Money Q3 Business Update

  • Vodafone AGM

  • Mattel Q2

  • General Electric Q2

  • UPS Q2

  • Raytheon Q2

  • Microsoft Q4

  • Visa Q3

Wednesday

  • Canada, monthly consumer price index

  • France, consumer confidence figures Insee

  • Facebook Q2

  • Santander Bank Q2

  • Barclays H1

  • BASF Q2

  • British American Tobacco H1

  • Deutsche Bank Q2

  • Fresnillo H1 production report

  • GlaxoSmithKline Q2

  • ITV H1

  • Group Man H1

  • McDonald’s Q2

  • Nissan Q1 engine

  • Rio Tinto H1

  • Spotify Q2

  • Vivendi H1

  • OMV Q2

  • Ford Motor Company Q2

  • Pfizer Q2

  • Boeing Q2

  • Bristol-Myers Squibb Q2

  • Moody’s Q2

Thursday

  • US, GDP Q2

  • Germany, monthly unemployment figures

  • UK, HMRC coronavirus work retention scheme statistics

  • Airbus H1

  • Amazon Q2

  • Anglo-American H1

  • Anheuser-Busch InBev H1

  • ArcelorMittal H1

  • BAE Systems H1

  • Banco Sabadell Q2

  • BT Group Q1

  • Carrefour H1

  • Cooperative Bank H1

  • Comcast Q2

  • Credit Suisse Q2

  • Daiwa Securities Group Q1

  • Danone H1

  • Diageo FY

  • Enel Q2

  • Evraz Q2

  • JCDecaux H1

  • Lloyds H1 Banking Group

  • Mastercard Q2

  • Mediobanca Q2

  • Merck & Co. Q2

  • National Express H1

  • Nestle H1

  • Northrop Grumman Q2

  • Orange H1

  • Panasonic Q1

  • Pinterest Q1

  • Rentokil H1

  • Repsol Q2

  • Royal Dutch Shell Q2

  • Saint-Gobain H1

  • Samsung Q2

  • Sanofi-Aventis Q2

  • Schroders H1

  • Securitas H1

  • Smith & Nephew Q2

  • Tate & Lyle AGM

  • Telefonica H1

  • The Hershey Company Q2

  • Q2 Total

  • Veolia H1

  • Volkswagen H1

Friday

  • EU, Eurostat flash estimate of eurozone inflation

  • Unemployment data in the EU, in the euro area

  • Japan, industrial production figures

  • United Kingdom, Monthly house price data

  • Canada, monthly GDP figures

  • Air France-KLM H1

  • Banco Bilbao Vizcaya Argentaria (BBVA) Q2

  • Berkshire Hathaway Q2

  • BNP Paribas Q2

  • Caterpillar Q2

  • Chevron Q2

  • Colgate-Palmolive Q2

  • Engie Q2

  • Eni Q2

  • ExxonMobil Q2

  • Glencore H1 production ratio

  • Hermes H1

  • International Airlines Group (IAG) H1

  • LafargeHolcim H1

  • Mazda Motorcycle Q1

  • NatWest H1

  • Nomura Q1

  • Pearson H1

  • Procter & Gamble Q4

  • Renault Q2

  • UniCredit H1

World events

Finally, here’s a summary of key events and milestones this week.

Monday

Tuesday

  • I, Ariane 5 launch

  • The United Kingdom, announced the Long Book Prize

  • UK, Glorious Goodwood, horse event kicks off at Goodwood Racecourse near Chichester

  • Monaco, 45th Annual World Backgammon Championship

Wednesday

Thursday

Friday

  • In the United States, the House of Representatives stands up for the summer break

  • United Kingdom, first night of the Proms

Newsletter recommended for you

Editor’s choice – Personal selection of favorite stories from the FT Editor. Sign up here

Unhedged – Robert Armstrong analyzes the most important market trends and discusses how the best minds on Wall Street respond to them. Sign up here



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *