Business calendar: the tightrope trick

STORY: Here’s what to watch in the week to May 13.

Storm clouds are gathering over the world economy,

amid soaring prices and rate rises from central banks - notably the Fed's biggest hike in 22 years.

Fresh sentiment and GDP data from Germany and the UK are likely to highlight the delicate tightrope.

Banks in emerging markets are expected to follow the Fed's lead in the coming days.

Could we have already reached peak U.S. inflation - after its fastest growth in over 40 years?

On Wednesday (May 11), the April consumer price index will give an indication.

That could sway monetary policy in the months ahead.

On Monday (May 9), trade figures will show how much strict ongoing anti-COVID lockdowns are slowing China's economy.

Investors will be watching closely.

The same day, Russia holds its annual Victory Day - which marks the Soviet Union's triumph over Nazi Germany.

Meanwhile, the European Union is close to agreeing its sixth and fiercest package of sanctions against Moscow, including a likely ban on Russian oil imports.

European refineries will need new suppliers and drivers will be paying more at the pumps.

Elon Musk's takeover of Twitter is among over $400 billion in M&A deals hanging.

Global dealmaking is recovering after a first-quarter slump but funding costs are spiraling.

That's left Musk, and Microsoft's purchase of Activision Blizzard scrabbling around for the money.

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