A week of testing for Apple and ECB tariffs

Get free global economic updates

We will send you a myFT Daily Digest e-mail rounding up the latest World economy news every morning.

Hello and welcome to the work week.

September is a month when the hopes of a peaceful summer vacation, at least for those living in the northern hemisphere, can be dashed by the disappointments of changing weather and the dark days ahead. So it can be shown this week with the news agenda.

Apple is hoping the luster of its latest product launch event this week won’t be marred by parties in Beijing cracking down on iPhone use by government officials. The hype surrounding the iPhone 15, which will be unveiled on Tuesday, was supposed to help Apple finally unseat Samsung as the world’s largest phone maker. However, China generates about a fifth of the iPhone maker’s revenue.

The key economic event this week will be the European Central Bank’s interest rate decision on Thursday, which is on a knife’s edge. Eurozone inflation, at 5.3 percent, is too far from the ECB’s 2 percent target for central bankers to stop rate hikes, especially given rising oil prices and fast wage growth. However, recent data indicating a sharp economic downturn may tip the scales for a pause this time.

Apparel retail is the theme this week among heavyweight earnings reports H&M and Inditex. Will the late summer sun bring a smile, or are those street bells burnt? If these market leaders can’t beat the post-holiday blues, we might as well shut up.

We are also approaching a number of landmark anniversaries. Monday marks 50 years since the coup d’état in Chile that brought General Augusto Pinochet to power, and 22 years since the 9/11 attacks in the United States.

However, Monday’s celebration of Catalonia’s National Day, a focus of pro-independence rallies, will be of particular concern to politicians in Madrid this week due to the hard-line separatist Together for Catalonia’s role in forming Spain’s next government. Junts, as the party is called in Catalan, wants to use its influence to push for greater official use of the region’s language and, more controversially, an amnesty for people facing criminal charges for the latest push for independence. Spain’s acting prime minister, Pedro Sánchez, would no doubt have welcomed the fall-like temperatures this week, at least in an emotionally charged political debate.

What is your priority for the next week? Email me at jonathan.moules@ft.com or if you received this in your inbox, click Reply.

One more thing. . .

The Maules family, like many others, were focused on going back to school last week, with one young member starting A-levels and another preparing for GCSEs.

You can help your children get the year off to a good start by asking your school or secondary to sign up for free access to the FT for 16-19 year olds and teachers. Apply here for a free online subscription. Also sign up for the Schools Digest newsletter, which contains feature articles selected by our mentor teachers. If you are a teacher and would like to submit articles/essays, please email schools@ft.com.

Basic economic and corporate reports

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

Monday

• EU: summer interim economic forecast of the European Commission

• UK: Bank of England Chief Economist Hugh Peel speaks at Kent Invicta Chamber of Commerce

• Results: Oracle Q1, The Vistry Group H1

Tuesday

• an apple holds an annual media event for new product launches in Cupertino

• OPEC Oil Market Report for September

• Germany: Zew Economic Sentiment Report

• UK: September employment data

• Results: Associated British Foods trade update, Fever-Tree drinks FG, IQ H1, Gym group H1, Weeks H1

Wednesday

• IEA report on the oil market for September

• EU: monthly industrial production figures

• UK: revised July GDP figure

• US: Consumer Price Index (CPI) inflation data for September

• Results: Inditex H1, Redo it FG, Tullow oil H1

Thursday

• EU: European Central Bank announces interest rates

• UK: RICS House Price Balance

• US: August retail sales figures

• Results: Adobe Q3, IG Group 1 Quarter Trade Update, John Lewis Partnership H1, The Kier Group FG, M&C Saatchi H1, THG H1, Train line H1 trade update

Friday

• Novartis Company holds an extraordinary meeting of shareholders to vote on the Sandoz spin-off

• Rupert Soames becomes CEO of a medical technology company Smith + Nephewsucceeding Roberto Quarto.

• China: August retail sales and industrial production figures

• France: September CPI and Harmonized Index of Consumer Prices (HICP) inflation data

• United Kingdom: August insolvency statistics for England and Wales

• US: August industrial production figures plus September University of Michigan consumer sentiment survey

• Results: H&M Q3 sales update

World events

Finally, here’s a rundown of this week’s other events and milestones.

Monday

• Bangladesh: French President Emmanuel Macron arrives in Dhaka on a state visit after attending the G20 summit in New Delhi

• Chile: 50th anniversary of military coup that ousted President Salvador Allende and brought General Augusto Pinochet to power

• Norway: local elections

• Spain: National Day of Catalonia

• UK: TUC trade union leaders’ congress continues in Liverpool

• USA: 22nd anniversary of the 9/11 attacks on the USA

Tuesday

• Great Britain: The 150th anniversary match between Scotland and England between two football teams, recognized by FIFA as the oldest international match in the world, at Hampden Park

Wednesday

Thursday

Friday

• Rosh Hashanah celebrations begin tonight for the Jewish New Year

• France: French air traffic controllers have launched a nationwide strike over inflation and wage revaluations. The cancellation is expected to cause flight chaos during the Rugby World Cup and may affect flights from other countries crossing French airspace

• Great Britain: London Fashion Week kicks off

saturday

• Germany: 188th annual Oktoberfest, Bavarian beer festival and fair kicks off in Munich

• UK: Launch of the 21st London Design Festival, an annual city-wide exhibition featuring architecture, furniture, graphic design, multimedia technology, fashion and fine art.

Sunday

• Australia: Philip Lowe steps down as governor of the Reserve Bank of Australia. He will be succeeded by Michelle Bullock following her appointment as Treasurer by Jim Chalmers in July

• Spain: 78th La Vuelta a España, also known as the Tour of Spain, ends in Madrid