These three things will change the world today.
1. Trump and Xi to meet for the first time
US president Donald Trump will host China’s president Xi Jinping at Mar-a-Lago today in the two leaders’ first meeting.
There is much international concern over what will arise from the meeting of the two states. In the past, Trump accused China of “raping our country” and has taken calls from Taiwan’s president, which is in disregard of the One China policy.
As well, Trump is expected to discuss North Korea’s nuclear capability and to ask Xi to put pressure on the communist state to end its tests. Otherwise, he has said the US will take unilateral action.
In an interview with the Financial Times, Trump said:
“China has great influence over North Korea. And China will either decide to help us with North Korea, or they won’t. if they do, that will be very good for China and if they don’t, it won’t be good for anyone.”
2. Czech National Bank will rule on its currency today
The Czech National Bank (CNB) will meet today and are expected to scrap the cap on the country’s currency, the Czech crown.
For the past three years, the bank committed to keeping the crown week, which kept euro trading above 27 crowns. However, this pledge ended on Friday and it is expected that today the CNB will announce that it will scrap the cap.
According to data compiled by Reuters, the euro/Czech crown overnight implied volatility hit 6.325 percent, it’s highest since Britain decided to leave the European Union last June.
3. UK Supreme Court rules on term-time holidays
The Supreme Court has ruled today on whether a father should have been fined for taking his daughter out of school for a holiday during term time.
The five justices decided that parents cannot legally take their children out of school during term time without permission from the headteacher.
Jon Platt was fined by his local education authority, the Isle of Wight Council, £120 for taking his daughter on a family holiday during the school term.
The coalition government introduced regulations in 2013 to prevent headteachers in state schools from granting term-time holiday, which led to several fines for parents.
Platt appealed against the case, which was heard by the Court in January this year. However, in today’s ruling the judges said Platt had shown a “blatant disregard of school rules” and that his approach had been a “slap in the face” to parents who play by the rules.