December 4, 2022

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Live News Updates: The coming week

2 min read

The US is gearing up for Thanksgiving Day celebrations. So expect the traditional series of travel chaos and gridlock in the days leading up to National Day on Thursday. Then prepare for the economic analysis of Black Friday sales the day after.

After about a week of international summits, President Joe Biden will be forced to speak to a turkey (rather than other world leaders) about turkey this Monday as he performs the traditional holiday-season pardon of fowl — of course, others can opt for that decide to save a turkey because of escalating costs.

Across the Atlantic, where the pre-Christmas bird flu nightmare is worsening for Britain’s festive poultry farmers, the big constitutional event is Wednesday’s upcoming Supreme Court decision on whether the Scottish Parliament can call a second independence referendum without the consent of the Scottish Parliament Britain’s Westminster Government.

Scottish National Party leader Nicola Sturgeon, who ironically credited the failure of the first referendum for getting her the job as First Minister as it forced the resignation of her predecessor Alex Salmond, has upped the ante by voting for IndyRef2 has commanded.

Scottish independence campaigners take part in a rally in Glasgow © Robert Perry/EPA-EFE

The court is expected to rule against Sturgeon’s proposal, which some say is their real target because it will stoke the nationalist sentiment of the complaint against Westminster ahead of the general election due in the next two years.

British business leaders can have their say on British politics at the CBI conference, which starts in Birmingham on Monday. Speakers will include a “senior cabinet minister”, John Lewis Partnership chair Sharon White and BT Group chief executive Philip Jansen.

Oh yes, and there is still some football to be played. Click here for the FT’s comprehensive coverage of Qatar.

economic data

The G7 flash PMI reports are the culmination of a light statistical schedule, thanks in large part to Thanksgiving. The OECD also updated its economic forecasts on Tuesday.

Rate-fixing intentions will be back in the news as November Federal Open Market Committee minutes show shifting sentiment among US central bankers. Rate hikes are expected to rise 25 basis points in South Korea and 75 basis points in South Africa. Turkey bucks this trend with an expected jumbo decline of 150 basis points.

companies

Just in time for the biggest retail event on the US calendar, we have a range of earnings from US and UK retailers Best Buy, Abercrombie & Fitch, Halfords, Pets at Home and Mothercare.

The Ingka Group, which owns the most Ikea stores worldwide, announced full-year figures on Thursday that will include profits for the home furnishings retailer.

Read the full calendar for next week here.

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