Live news updates: China and Hong Kong stocks drop as Covid curbs spook investors

The United States is gearing up for Thanksgiving celebrations, so expect the usual slew of travel chaos and traffic jam stories in the days leading up to Thursday’s national holiday. Then get ready for the economic analysis of Black Friday sales figures the next day.

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After a week or so of international summits, President Joe Biden will be forced to talk turkey with a turkey (instead of other world leaders) this Monday as he undertakes the traditional holiday season bird pardon ; of course, others may choose to save. a turkey due to rising costs.

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Across the Atlantic, where the pre-Christmas bird flu nightmare for festive British poultry farmers worsens, the big constitutional event is the Supreme Court’s decision – expected on Wednesday – on whether the Scottish parliament can call a second independence referendum without the approval of the UK’s Westminster Government.

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Scottish National Party leader Nicola Sturgeon, who ironically missed out on the first referendum to become prime minister because it forced the resignation of her predecessor Alex Salmond, has upped the ante by bidding for IndyRef2.

Scottish independence campaigners attend a rally in Glasgow

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

The court is expected to rule against Sturgeon’s proposal, which some say is his real aim because it will fuel nationalist sentiment of grievance against Westminster ahead of a general election due in the next two years.

British business leaders will be able to have their say on UK policy at the CBI conference, which starts in Birmingham on Monday. Speakers include a ‘senior cabinet minister’, John Lewis association chairman Sharon White and BT Group chief executive Philip Jansen.

Oh yes, and there is more football being played. Click for the FT’s full coverage of Qatar.

Economic data

The G7 Flash Purchasing Managers’ Index reports are the highlight of a light statistical program, thanks in large part to Thanksgiving. In addition, the OECD updates its economic forecasts on Tuesday.

Rate-setting intentions will be back in the news with November’s Federal Open Market Committee proceedings showing how views are shifting among US central bankers. Rate hikes are expected in South Korea, where a 25 basis point increase is expected, and South Africa, where a 75 basis point increase is expected. Turkey bucks this trend with a huge expected drop of 150 basis points.

companies

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

Ingka Group, which owns the majority of Ikea stores worldwide, reports full-year figures on Thursday, which will include the home furnishings retailer’s profit.

Read the full week’s schedule here.

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