Hello and welcome back to the working week.
Excuse me if this letter has an element of bah humbug. Last week I was away — thank you to Maxine Kelly for filling in for me — and I managed to contract a nasty bout of flu. About my only joy — apart from a book I’d been meaning to read — was realising I did not have Covid-19, Omicron variant or otherwise. We live in strange times. Email me at jonathan.moules@ft.com.
You may well be preparing for the main event at the end of the week, but there are still a few items to get through in the coming few days.
Emmanuel Macron turns 44 on Tuesday. Clearly wishing to avoid clashing with any personal birthday celebrations, he got the business of his re-election campaign started last week. Prepare for more of this activity, however, in the coming days and months.
Did you hear that the Financial Times made Elon Musk its person of the year? This week his SpaceX business launches a supply mission to crew on the International Space Station. Not to be outdone, Nasa scientists will separately send up the James Webb Space Telescope, the world’s largest and most advanced cosmic observatory, which could lead to the discovery of life on distant planets. There is hope.
Economic data
The economics calendar has the air of a pre-Christmas wind down. There is US consumer confidence data, home-sales figures plus a run of surveys in the eurozone and UK, with a further setback likely next month. The inflation debate will have another moment after last week’s central bank committee meeting excitement, with the reporting of cost-of-living figures for France and Japan.
Companies
This week has less diarised corporate news, but one or two significant earnings calls. Heineken, which reports full-year earnings on Wednesday, is hoping for better news than last quarter, when it reported a sales fall owing to a decline in Asian sales. Lockdowns across Europe do not bode well for the Dutch group. Nike reports second-quarter figures on Monday.
Key economic and company reports
Here is a more complete list of what to expect in terms of company reports and economic data this week.
Monday
China, policy rate decision
UK, Rightmove monthly house price index and CBI monthly industrial trends survey plus the Office for National Statistics publishes public sector finance statistics and 2020 foreign direct investment figures
Results: Nike Q2
Tuesday
Canada, monthly retail sales data
Germany, GfK consumer confidence survey
Italy, producer price index (PPI) figures
Norway, speech by deputy central bank governor Oystein Borsum about the Norwegian sovereign wealth fund and climate change
UK, revised Q3 GDP figure plus HMRC tax receipts data
US, real Q3 GDP plus Conference Board consumer confidence figures
Results: BlackBerry Q3, General Mills Q2
Wednesday
France, PPI figures
Japan, central bank releases minutes of its October monetary policy meeting
UK, ONS quarterly consumer trends report plus quarterly business investment, sector accounts and economic accounts
Results: Heineken FY, PayChex Q2
Thursday
Canada, monthly GDP figure
Japan, consumer price index (CPI) data
Portugal, Q3 budget deficit data
UK, GfK consumer confidence survey and CBI monthly growth indicator report
Friday
UK, London Stock Exchange closes early for Christmas
World events
Finally, here is a rundown of other events and milestones this week.
Monday
50th anniversary of the founding of international aid organisation Médecins Sans Frontières by Bernard Kouchner and a group of journalists in Paris, France
UK, home secretary Priti Patel is set to rule on whether tech entrepreneur Mike Lynch can be extradited to the US to face charges related to the sale of Autonomy, the software company he founded, to HP
Tuesday
Anniversary of the 1988 Lockerbie disaster when Pan Am flight 103 exploded over the Scottish town, resulting in the deaths of 270 people
France, president Emmanuel Macron celebrates his 44th birthday
A SpaceX Falcon 9 rocket launches a Dragon cargo resupply mission to the International Space Station
US, Oscars preliminary shortlists announced
Winter solstice in northern hemisphere. Those marking the occasion include, in the UK, druids at Stonehenge and The Burning the Clocks parade in Brighton
Wednesday
Spain, El Gordo (The Fat One), Europe’s biggest and oldest lottery draw, takes place in Madrid
US, Nasa’s James Webb Space Telescope, which will be the premier observatory of the next decade, is scheduled to be launched
Thursday
Russia, President Vladimir Putin to hold his annual press conference with Russian media
Friday
Israel, annual celebrations take place in Bethlehem, including a procession in Manger Square
Libya, general election
Vatican City, Christmas mass at St Peter’s Basilica celebrated by Pope Francis
Saturday
Christmas Day
Sunday
Australia, start of the third of five Ashes tests in Melbourne
UK, Boxing Day sales begin
Source: Economy - ft.com
