Goodbye autumn, hello COP28

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Hello and welcome to the working week.

Here in the northern hemisphere the days are getting colder, but the conversation on many people’s lips around the world over the next seven days will be about warming up: yes, the COP28 climate conference is about to begin in Dubai.

Health will be high on the agenda as delegates gather for the formal opening on Thursday. The pressure will be on hosts UAE to prove that COP gatherings are more than just talking shops. Much will be made of world leaders (somewhat ironically) flying in to attend, including the Pope and King Charles III. FT Live will be there too, hosting debates to evaluate and reflect on the negotiations, announcements and agreements taking place. Click here to register your place with FT Live.

The economic data machine will also be working hard over the next seven days, churning out quarterly gross domestic product figures for India, Germany and the US, inflation figures for the eurozone, Australia and Brazil, plus the purchasing managers’ index (PMI) comparators of industrial activity across the G7 nations among other items. Not to be outdone, the central bankers will be busy too, on the speaking circuit — more details of all this below.

It’s the tail-end of the earnings season. The trickle of results announcements are led by easyJet, likely to report buoyant figures thanks to the post-pandemic return to holidays abroad, and a clutch of retailers giving us an indication of consumer confidence, notably Ikea owner Ingka Group, Pets at Home, Foot Locker and Farfetch.

For the UK companies news diary there is an extraordinary general meeting for shareholders in The Restaurant Group to vote on the proposed takeover deal by Apollo Global Management. And, the former bosses of collapsed UK retail chain Wilko and its auditor have been summoned to appear before MPs on Tuesday to explain why the 92-year-old company went bust.

One more thing . . . 

If like me you have been quietly fuming about the arrival of Christmas trees and decorations when it is not even December, fear not: this week brings the official beginning of the season of Advent, the time of expectation and excitement ahead of the Nativity. Mushroom vol-au-vents, anyone?

What are your priorities this week? Email me at [email protected] or, if you are reading this from your inbox, hit reply.

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

• Cyber Monday, the first Monday after the US Thanksgiving holiday, when many retailers traditionally hold special promotions and sales online

• European Central Bank president Christine Lagarde answers questions in the quarterly monetary dialogue with the European parliament committee on economic and monetary affairs

• The Restaurant Group holds an extraordinary general meeting where shareholders will vote on the proposed acquisition of the company by Apollo Global Management in a £506mn deal

• US: monthly new home sales figures

Tuesday

• Federal Reserve board governor Christopher Waller speaks on the economic outlook before an American Enterprise Institute event in Washington. His fellow board governor Michelle Bowman will be speaking on “Monetary Policy and the Economy” at a Utah Bankers Association breakfast in Salt Lake City.

• Bank of England deputy governor David Ramsden, Reserve Bank of Australia governor Michele Bullock, Bank of Spain governor Pablo Hernández de Cos and People’s Bank of China governor Pan Gongsheng speak at the HKMA-BIS high-level conference in Hong Kong.

• Germany: GfK consumer climate survey

• UK: Zoopla house price index

• US: Conference Board consumer confidence survey

• Results: easyJet FY, GB Group HY, Greencore FY, Intuit Q1, Pets at Home HY, Topps Tiles FY

Wednesday

• OECD Economic Outlook

• Germany: preliminary consumer price index (CPI) and harmonised index of consumer prices (HICP) inflation rate data

• US: Federal Reserve Beige Book published, plus revised Q3 GDP figures

• Results: CVS Group trading update and AGM, Dollar Tree Q3, Farfetch Q3, Foot Locker Q3, General Motors business update, Halfords HY, Ingka Group FY, Pennon HY, Prosus HY

Thursday

• Delayed Opec+ meeting to be held online

• Eurozone, France: November CPI and HICP inflation rate data

• Canada: Q3 GDP figures

• India: Q2 GDP figures

• Results: Dr Martens HY, Rémy Cointreau HY, Royal Bank of Canada Q4, Salesforce Q3, SAS FY, Toronto-Dominion Bank Q4, Victoria’s Secret Q3

Friday

• EU, France, Germany, Italy, Japan, UK, US: S&P Global/Cips final November manufacturing purchasing managers’ index (PMI) data

• UK: Nationwide November house price index

• Results: National Bank of Canada Q4

World events

Finally, here is a rundown of other events and milestones this week.

Monday

• UK: Prime Minister Rishi Sunak hosts the second Global Investment Summit, showcasing British expertise to attract foreign backers. More than 200 heads of multinational companies and investment firms have been invited to attend

Tuesday

• Belgium: Nato foreign ministers meet in Brussels, chaired by Nato secretary-general Jens Stoltenberg. Discussions are likely to focus on the Ukraine war

• Ireland: British and Irish ministers gather for the British-Irish Intergovernmental Conference in Dublin, with the lack of government in Northern Ireland set to again dominate the agenda

• UK: MPs on the Treasury Committee question economists about the consequences of chancellor Jeremy Hunt’s Autumn Statement last week. Hunt gets his turn in front of the committee the next day

Wednesday

• UK: former first secretary of state Dominic Raab and former health secretary Sajid Javid to give evidence to the UK’s Covid Inquiry. Fellow former health secretary Matt Hancock will follow later in the week

• US: funeral service in Plains, Georgia, of Rosalynn Carter, former first lady to president Jimmy Carter

Thursday

• Bhutan: parliamentary elections

• UAE: COP28, the latest international gathering to discuss reducing greenhouse emissions, begins in Dubai. It will run until December 12

• US: annual national Christmas tree lighting ceremony in Washington

Friday

• First day of winter in the northern hemisphere according to the meteorological calendar

• Brazil takes over the rotating one-year presidency of the G20

Saturday

• Germany: final draw ceremony to decide groups for the Uefa Euro 2024 football tournament at the Elbphilharmonie in Hamburg

• US: Kiss conclude their latest tour at Madison Square Garden with their last ever show, 50 years after the American rock band formed

Sunday