Here’s a look at what’s coming up this week.
TECHNOLOGY
As E3 starts, companies pitch new products.
The video game industry’s annual jamboree, E3, is set to open in Los Angeles on Tuesday, but some of the biggest companies in the business will begin their quest to build buzz before then. On Sunday, Microsoft revealed a new game console that supports 4K video, called Xbox One X. It will go on sale on Nov. 7. On Monday, Sony is expected to promote exclusive games for its PlayStation 4, while Nintendo on Tuesday plans to show off games for its new Switch console, including the much-anticipated Super Mario Odyssey. Nick Wingfield
ECONOMY
A third straight quarterly rate increase is expected.
The Federal Reserve is expected to raise its benchmark interest rate on Wednesday after a two-day meeting of its policy-making committee. That would be the Fed’s third straight quarterly rate increase; the benchmark rate would rise to a range between 1 percent and 1.25 percent. With the increase viewed as a foregone conclusion, attention has shifted to what comes next. The Fed has been devising plans to reduce its investment holdings, a final stage in unwinding its postcrisis economic stimulus program. Janet L. Yellen, the Fed’s chairwoman, could discuss those plans at a news conference on Wednesday afternoon. The Fed’s policy statement, and Ms. Yellen’s comments, will also shape expectations about the likelihood of another rate increase in September. Binyamin Appelbaum
New retail sales data may show a tiny rise.
On Wednesday, at 8:30 a.m., the Commerce Department will report data on retail sales in May. Economists are forecasting a 0.1 percent rise in overall retail sales, which they believe were held back by anemic automobile sales and gas purchases. Excluding those more volatile categories, economists expect a gain of 0.2 percent. If the data turns out to be weaker than that, or there is softness beyond those two particular sectors, look for economists to ratchet down their estimate of overall economic growth in the second quarter. Nelson D. Schwartz
Greece’s bailout is back on the eurozone agenda.
Eurozone finance ministers will meet on Thursday in Luxembourg after failing to reach a deal last month to unlock loans for Greece. Athens must pay about 7 billion euros (about $7.8 billion) next month to service its towering debt, and that has raised pressure on Germany and the International Monetary Fund to resolve a dispute that has held up progress. The I.M.F. is pushing European lenders to make it easier for Greece to manage its repayments as a condition for its involvement in the €86 billion bailout — the country’s third since 2010. Prime Minister Alexis Tsipras of Greece also wants concessions after another round of divisive reforms. But Germany has dug in its heels, wary that offering so-called debt relief to Athens could slow the pace of change and damage the popularity of the government in Berlin before German federal elections in September. James Kanter
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TECHNOLOGY
Cellphone use in Europe is set to become cheaper.
The cost of making cellphone calls, sending text messages and browsing the internet will fall across Europe on Thursday when new rules go into effect that limit charges when people use their mobile devices outside their home countries. The digital overhaul applies only to European cellphone contracts, meaning Americans and others may still see hefty fees when they use their phones in the region. It also comes as Europe is facing mounting pressure to make sure its digital economy keeps pace with those of the United States and China. Mark Scott
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ECONOMY
Bank of England may keep interest rates steady.
The Bank of England will release its latest monetary policy decision on Thursday, but could be overshadowed by the expected actions of the United States Federal Reserve. Much like the European Central Bank last week, the Monetary Policy Committee at the Bank of England is widely expected to keep interest rates steady.
After dropping rates to the lowest level in its history in August, the Bank of England has kept rates steady as the British economy has performed better than expected since Britain’s vote to leave the European Union last June. Chad Bray
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Article source: https://www.nytimes.com/2017/06/11/business/video-games-fed-interest-rates.html?partner=rss&emc=rss
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