Here are some of the big stories we'll have our eyes on this week.

來收看一些我們這週正在關注的大事件

The UN Tribunal plans to make a ruling on disputes in the South China Sea between China and the Philipines.

聯合國特別法庭計畫作出中國與菲律賓之間南海之爭的裁決

The aluminum giant ALCOA which is undergoing a major restructuring opens the US earning season.

全球最大鋁業公司 ALCOA 正進行大型重組，開啟了美國的業績公佈期

And the Bank of England Monetary Policy Committee

英格蘭銀行貨幣政策委員會

meets for the first time since the UK voted to leave the EU to discuss how to support the British economy.

自從英國舉辦脫歐公投首次召開會議討論如何撐起英國景氣

First, geopolitical tensions in the South China Sea have ratcheted up in recent years,

首先，在南海的地理政治上的緊張在近幾年來惡化

and this week should see the first international ruling on the much contested claims made by China in the region.

關於中國對於南海主權備受爭議的主張，這週將會發生第一次國際裁決。

The UN Tribunal will decide on a case brought by the Philipines in 2013 to the International Tribunal for the Law of the Sea based in The Hague

菲律賓 2013 年依「聯合國海洋法公約」對中國大陸提南海仲裁案，聯合國特別法庭將作出裁決

Although the case revolves around technical aspect of maritime law,

雖然這個案子環繞著海洋法的技術層面

the ruling could be of great significance by clarifying several issues at the heart of the area's territorial disputes.

這場判決會有高度重要性因為澄清了一些關於南海之爭的議題

However, China's Foreign Ministry has said it doesn't recognize the court's authority.

但是，中華人民共和國外交部說明中國不承認聯合國特別法庭

Experts expect the court to rule against China on a number of the cases

專家預期法庭否決多數案例中的中國南海爭端

and while the Tribunal has no powers of enforcement if the ruling favors the Philippines,

縱使若裁決對菲律賓有利，特別法庭並沒有強制力

China's reputation is likely to be further damaged if it continues to pursue its claims.

若中國繼續堅持主張，名聲將更加受損

The Obama Administration is already framing the ruling as a test of China's respect for international law.

歐巴馬政府用這一判決測試中國尊重國際法的程度

so the verdict could aggravate tensions between those two countries which were involved in a broader contest of influence in the region.

所以裁決有可能惡化兩國間的緊張關係，兩國皆涉入南海區域內更廣的影響力之爭

ALCOA, the US aluminum group that's been working to split itself in two, opens the earnings reporting season on Monday.

正進行分拆作業的美國鋁業公司 ALCOA，在週一展開了業績公佈期

By the end of the year, it will have divided into a commodity business

在年底前，ALCOA 會被分成一個商品交易公司

and a company making specialized metals and components for industries such as cars and aircraft.

以及一個專門為汽車及航空器產業製作金屬及零件的公司

The breakup plan has been welcomed by some investors

一些投資者贊成這樣的分拆

although ALCOA's share price has continued to track closely to the aluminum price, hitting a low in January but recovering somewhat since then.

雖然 ALCOA 的股價緊貼鋁價，在一月跌到最低但隨後恢復

And as our US energy editor Ed Krooks explains, the commodity price remains one of the biggest challenges for the company.

根據我們負責美國能源新聞的編輯 Ed Krooks，商品價對於這間公司而言是很大的挑戰

"The whole group is still very much affected by the price of aluminum and that's gonna be a dominant feature of these latest results.

「大家還是大受鋁價的影響，這會是最近期的結果會呈現的一大特色

The price of aluminum is down about 15% since the last year,

鋁價自去年跌了 15%

it's actually recovered a bit in 2016 but it's still bit down compared to what it was a year ago

在 2016 年其實有回升一點但跟去年比還是蠻低的

and as a result of that we're gonna see lower earnings for ALCOA group, in the second quarter of 2016.

後果是在 2016 年第二季裡，ALCOA 集團的營收會較低

Analysts think they are gonna make about, they will have made about 9 cents in earnings per share during the second quarter of 2016

分析家認為 ALCOA 在 2016 年第二季的每股盈餘將為 USD$0.09

and that's down from 19 cents per share which they reported as underlying earnings for the second quarter of 2015.

這較 2015 年第二季公佈的基本每股盈餘低了 USD$0.19

And finally this week we'll see the first meeting of the Bank of England's monetary policy committee since the UK's vote for Brexit

roiled markets and raced the specter of recession for the British economy.

Signs from Bank of England governor, Mark Carney, that he's willing to prop up a faltering economy,

have seen future's markets point to an almost 80% probability of an interest rate cut this week.

And just over 20% chance of rates going to 0 at the bank's next meeting in August.

Economics reporter Emily Cadman has more.

Governor Mark Carney has already said that in his view, monetary policy easing is going to be needed over the summer.

Now the bank won't get its new forecast of the UK economy until August.

But there's a mood of expectation growing in the city that the bank is going to want to act sooner.

That could mean interest rate cuts as soon as Thursday.

The bank does have other options of things that it could do.

銀行的確有其他的選擇

For example, it could restart its quantitive easing program where it buys assets.

例如：

But most people are expecting it to wait until it has more information before doing that.

That's what the week ahead looks like from the Financial Times in London.

See you again next time.

下次再會