Here’s what to expect from the week ahead:
Supreme Court to rule on public-sector union fees.
The Supreme Court will be likely to issue a ruling This specific week with enormous stakes for labor, the Democratic Party in addition to progressive causes. The case, Janus v. American Federation of State, County in addition to Municipal Employees, will decide the constitutionality of laws that will require public-sector workers to pay for collective bargaining regardless of whether they are members of the union. If the court strikes down these laws, which exist in more than 20 states, public sector unions would certainly immediately lose revenue coming from hundreds of thousands of nonmembers. The unions, which are some of the strongest from the country, could also lose hundreds of thousands of additional members over time, costing them even more. The unions would certainly have less money to spend on political candidates in addition to committees, as well as civil rights in addition to worker rights groups, of which they are major financial backers.
— Noam Scheiber
Hearings to start on Uber’s operations in London.
A British court will begin hearings on Monday on Uber’s appeal of a regulator’s decision to ban the ride share company coming from operating in London. Last year, Transport for London, which oversees the city’s transportation systems, found that will Uber was not sufficiently “fit in addition to proper” in addition to revoked its license to operate from the city, the company’s largest European market. Uber has since made efforts to address the agency’s, including introducing limits on how long drivers can continuously operate behind the wheel. that will will be possible that will Uber will reach a deal to allow company cars to continue operating. however given the company’s effort to scale back operations in money-losing Asian markets as well as its plans for an initial public offering, a ban would certainly have impact far beyond the British capital.
— Matthew Sedacca
F.D.A. to decide on drug derived coming from marijuana.
The Food in addition to Drug Administration will be likely to decide by Wednesday whether to approve a drug intended to treat epilepsy that will will be made with an ingredient coming from marijuana. The drug, Epidiolex, will be made by the British company GW Pharmaceuticals. Its active ingredient will be cannabidiol, or CBD, one of the chemical compounds found from the cannabis plant. that will does not contain the properties that will make people high.
In April, an F.D.A. advisory panel unanimously agreed to recommend the drug’s approval to treat two rare in addition to hard-to-treat forms of epilepsy, Lennox-Gastaut syndrome in addition to Dravet syndrome. If the drug will be approved — in addition to the agency often follows the advice of its expert panels — that will would certainly be the first in a brand new class of drugs to treat epilepsy.
— Katie Thomas
Bank of England to report on financial stability.
The Bank of England will publish on Wednesday its semiannual report on the financial stability of the British financial system. The last report, which arrived in November, said that will the country’s banking system would certainly be “resilient” to a variety of risks that will could feature a disorderly departure coming from the European Union. however that will also noted that will “the combination of a disorderly Brexit in addition to a severe global recession in addition to stressed misconduct costs could result in more severe conditions” than its stress test in addition to, as such, regulators might have to rethink the financial cushion that will banks are required to maintain.
— Amie Tsang
European conference to focus on auto industry post-Dieselgate.
With the European auto industry facing a deepening credibility crisis, representatives of government, automakers in addition to watchdog organizations will gather on Wednesday at the European Parliament in Brussels for a conference called “Dieselgate, What Next?” The interest groups in addition to officials will debate how to improve air quality in addition to ease urban congestion without destroying the auto industry, which will be a major source of jobs, from the wake of the conspiracy inside Volkswagen to deceive pollution regulators.
— Jack Ewing
Fed to Discharge second round of results of bank stress tests.
The Fed will Discharge the results on Thursday of the second, in addition to more consequential, round of its stress tests of the country’s big banks. from the reports, officially known as the Comprehensive Capital Analysis in addition to Review, the Fed determines whether banks are sufficiently stable in addition to managed well enough to justify the banks’ plans for raising payouts to shareholders through dividends in addition to share buybacks. from the past, large banks have followed the Fed’s announcements by almost immediately unveiling plans for dividends, which can juice share prices in after-hours trading. All the biggest American banks passed This specific round of the stress tests for the very first time last year.
— Matt Phillips
European leaders to discuss trade war with the U.S.
European leaders will meet on Thursday in Brussels after more than a year of heavily contested elections in which the European Union’s authority was repeatedly questioned. Leaders will be pressed to find agreements on migration policy in addition to eurozone reforms, in addition to must settle disputes regarding the eurozone’s next long-term budget, rule of law issues with Poland in addition to Hungary, in addition to the ongoing trade war with the United States.
— Milan Schreuer
Consumer spending may have cooled in May.
Low unemployment in addition to strong growth have Americans feeling not bad about the economy. Data coming from the Commerce Department on Friday will reveal whether they’re actually opening their wallets. Consumer spending surged late last year as Floridians in addition to Texans rebuilt after the fall hurricanes, however that will slumped early This specific year before rebounding in April. Economists surveyed by MarketWatch expect Friday’s data to show a modest slowdown in May. Economists will be watching closely for signs that will recently imposed tariffs are pushing up consumer prices.
— Ben Casselman
U.S. may issue restrictions on Chinese investment.
The Trump administration will be likely to issue brand new guidelines for restrictions on Chinese investment from the United States by Saturday. The guidelines come out of the administration’s ongoing investigation into Chinese violations of American intellectual property in addition to are likely to further inflame trade tensions between the planet’s two largest economies. Administration officials have said that will the measures will go into effect just days after they are issued. China in addition to the United States have been locked in trade talks to try to avert measures like the investment restrictions in addition to additional tariffs that will the Trump administration has threatened to impose on China in early July. however the White House has said that will not enough progress has yet been made.
— Ana Swanson