First Move with Julia Chatterley

Last month the European Central Bank confirmed it would raise interest rates 25 basis points at its next policy meeting. Well, that meeting is this Thursday. We explore what the ECB's first rate hike in over a decade may or may not do to fight inflation. 

Also on today's show: This is a huge week for Netflix, which will report its second-quarter earnings tomorrow. It's shaping up to be one of the most consequential moments in the 25-year history of the company.

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China, which boasts the world's second largest economy, reports surprisingly weak growth for the second quarter, providing a worrisome jolt for everyone concerned we're headed toward a global recession. Plus, we have more big US banking results. And, a live report from CNN's Becky Anderson in Saudi Arabia, where President Biden is scheduled to meet with Mohammed bin Salman.

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President Joe Biden kicked off his four-day Middle East trip by signing a landmark agreement with Israel. The joint declaration with Prime Minister Yair Lapid emphasizes the US's deepening ties with Israel, embraces Israel's integration into the wider region, and promises to never allow Iran to obtain nuclear weapons. Next stop for Biden: a controversial face-to-face with Saudi Arabia's Mohammed bin Salman. Our extensive coverage of this crucial trip begins with a live report by CNN's Becky Anderson in Jeddah.

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Brand new inflation numbers show the Consumer Price Index rose a much hotter than expected 9.1% year over year rate last month. The core rate of that CPI number that excludes volatile food and energy prices also came in higher than expected. If there's any consolation it's that today's numbers are relatively backward looking, not recent enough to catch the significant drop that we've seen in US gas prices over the last few weeks. That said, all the recent talk we may be near an inflationary top appears premature yet again. We take a deep dive into the numbers and what they mean for the US economy moving forward.

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t's a somber day in Japan, as the nation pays final respects to Shinzo Abe. We bring you a live report from Tokyo. Plus, we focus on Sri Lanka's worsening economic crisis, which led to the falls of both of its leaders. We hear from a former finance minister and opposition MP about a way forward for the country. And, rising Covid cases in China are sparking fears of further economic restrictions. Macau casinos are now being forced to shut down for a week, triggering a steep fall in gaming stocks.

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Japan remains in a state of mourning and disbelief after the death of former Prime Minister Shinzo Abe. His wake took place today in Tokyo with the funeral service set for Tuesday. Following the shooting, Abe's Liberal Democratic Party won a landslide election victory. We discuss his life's work and what this election might mean for his economic and political legacy with Tak Niinami, the CEO of beverage giant Suntory, who served as Abe's senior economic adviser. 

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Japanese citizens are in shock following the death of Shinzo Abe after the former prime minister was shot during a campaign speech. Police say the assassination suspect, a 41-year-old unemployed man, admitted to shooting Abe. According to police, the suspect said he holds hatred toward a certain group, which he thought Abe was linked to. He used a homemade gun in the shooting, and authorities confiscated several handmade pistol-like items from his apartment, police said. Abe was the longest-serving Japanese prime minister in history. He stepped down as leader in 2020, citing health reasons.

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UK Prime Minister Boris Johnson announced his resignation as leader of the Conservative party on Thursday, telling the British public that "the process of choosing that new leader should begin now and the timetable will be announced next week." Johnson indicated in his resignation speech that he plans to remain in post until a successor is chosen. That's what would happen under normal circumstances: a prime minister who has resigned as party leader stays in office as caretaker prime minister until there is a new party leader. But it’s not clear that the Conservative party will stand for that in Johnson’s case; many of his lawmakers have called for him to step down now. What happens next? That's the focus of today's show.

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British leader Boris Johnson once again vows to fight on despite the resignations yesterday of two of his top ministers who said they could no longer work for a government mired in scandal. This latest challenge comes as the British pound is at its weakest in two years. Can the embattled PM survive yet another blow? CNN correspondent Max Foster joins the show from London to discuss.

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European markets began today under some serious pressure. The catalyst: a strike by energy workers in Norway, western Europe's number one oil and gas producer. That strike is set to take a big chunk out of Norway's gas output this week at a highly fragile time with the EU already facing the threat of Russia abruptly turning off supplies and potentially pushing vital industries into crisis. And that's not the only strike causing disruption in Europe. We have all of that and much more covered in today's show.

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