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It’s Groundhog Day Again | FinancialTimes

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Hello and welcome to the working week.

Groundhog Day is approaching. I know. Have we ever escaped it since the pandemic hit? This week’s headlines certainly sound eerily familiar: British Prime Minister Boris Johnson on the ropes, Ukraine and Russia on the brink of conflict. Are we really about to witness a return of the Soviet empire?

Luckily, it’s a good time to celebrate this week with the Lunar New Year on Tuesday – get some tips on the wisdom of investing in China from this FT video.

There are also changes underway with the lifting of Covid-19 restrictions in France, England and Scotland, allowing the Old Firm football game in Glasgow to be played in front of a decent sized crowd at Celtic Park for the first time in what feels like an age on Wednesday.

Are you grateful for the certainty or eager for a change? Email me at [email protected]

Economic data

It’s a busy week for economic news with fresh indications on inflation and unemployment in developed countries with PMI data to provide international comparisons.

The UK interest rate decision will come on Thursday and a hike is expected, despite last week’s data pointing to a slowing economy. After the Bank of England communications fiasco late last year, it decided to respond by saying less rather than more. A rate hike will be the first consecutive tightening of monetary policy since 2004, fueling expectations that others will follow.

Companies

We’re halfway through the quarterly earnings season with more Big Tech and banking results. These sectors have been among the winners of the pandemic, but now face challenges as developed economies emerge from the crisis.

Meta, the parent company of Facebook and Instagram, which reported Wednesday, has been looking for new sources of revenue to fuel its future growth. It has also been stung by recent content moderation and privacy scandals, contributing to a decline in the popularity of its leading social media products, which in turn threatens its $85 billion ad-based business model. per year.

A number of automakers will be hitting the Wall Street forecourt, and analysts will be looking to see if they’re any closer to making technological breakthroughs, like the perhaps overhyped driverless car.

General Motorswhich reported on Tuesday, is funding the transition to electric vehicles even as analysts expect fourth-quarter revenue and profits to fall.

The company said last week it would spend more than $4 billion to convert a Michigan factory to build electric pickup trucks and another $2.6 billion with LG Chem to build a battery cell factory.

Analysts polled by FactSet predicted the automaker would earn $1.16 a share in the fourth quarter, from $1.93 a year earlier, on revenue that fell 5% to $36 billion over the same period. .

Main economic and corporate reports

Here’s what to expect in terms of corporate reports and economic data this week.

Monday

  • EU, Italy, Mexico: Q4 GDP flash data

  • Evraz Fourth Quarter Business Update

  • Germany, preliminary consumer price index (CPI) data for January

  • Italy, Japan: monthly unemployment figures

  • United Kingdom, quarterly estimates of government deficit and debt, as well as the British Retail Consortium’s monthly economic briefing

  • Results: KPN Q4, Mitsubishi engines Q3, Ryanair Q2, UBS Q4

Tuesday

  • Australia, the Reserve Bank of Australia holds its monthly meeting

  • Brazil, beginning of the meeting of the monetary policy committee of Banco Central do Brasil

  • Canada, monthly GDP data

  • France, provisional CPI figures for January

  • Eurozone, France, Germany, Italy, United Kingdom, United States: IHS Markit Manufacturing Purchasing Managers’ Index data

  • Quarterly Eurozone Bank Credit Survey Q4 EU and European Central Bank and Eurostat unemployment figures

  • Germany, monthly labor market figures

  • India, Union budget

  • UK, Bank of England monthly money and credit figures

  • Results: Alphabet Q4, ExxonMobil Q4, General Motors Q4, Monday Energy AF, Starbucks Q1, TV2 Q4, UPS Q4

Wednesday

  • EU, monthly euro area inflation flash data

  • Italy, monthly CPI data

  • United Kingdom, national house price index

  • Vodafone Third Quarter Business Update

  • Results: AbbVie Q4, Santander Bank AF, Ferrari AF, Meta Q4, Novartis Q4, panasonic Q3, sony Q3, Spotify Q4, Telenor Q4

Thusday

  • Compass Group Q1 Trade Update

  • EU and European Central Bank monetary policy meeting in Frankfurt, Eurozone main refinancing rate and retail sales figures

  • Euro zone, France, Germany, Italy, Japan, United Kingdom, United States: IHS Markit services PMI data

  • South Korea, Turkey: CPI data

  • UK, Bank of England bank rate decision plus target to buy corporate bonds and gilts

  • Results: ABB Q4, Amazon Q4, Banco Bilbao Vizcaya Argentaria Q3, BT Q3, Conoco Phillips Q4, Dassault Systems Q4, Eli Lilly and Co. Q4, Enel AF, ICE Q4, Infineon Technologies Q3, ING Q4, Merck & Co. Q4, nintendo Q3, nokia AF, Norton Life Lock Q3, OMV Q4, Prudential Financial Q4, Ralph Lauren Q3, rock AF, Shell Q4, Skanska AF, Takeda Q3

Friday

  • Canada, monthly unemployment figures

  • France, industrial production index

  • Germany, monthly factory orders figures

  • Euro zone, France, Germany, United Kingdom: IHS Markit construction PMI data

  • U.S. Monthly Motor Vehicle Sales, Payrolls and Unemployment Figures

  • Results: aon Q4, Bristol Myers Squibb Q4, Carlsberg AF, Intesa San Paolo AF, Regeneron Pharmaceuticals Q4, Sanofi-Aventis Q4, Sumitomo Q3, Suzuki Q3

Global Events

Finally, here’s a look at some of the other events and milestones from this week.

Monday

  • Norway, the annual Arctic Frontiers conference begins in Tromso

  • UK and Scottish office workers will be allowed to return to their desks and there will be no limits on visits to care homes in England as lockdown rules are eased

Tuesday

  • Austria, compulsory vaccination laws come into force

  • Lunar New Year celebrations, marking the start of the Year of the Tiger

  • Myanmar, anniversary of the military overthrow of the elected government of Aung San Suu Kyi in a coup

  • Russia takes over the presidency of the United Nations Security Council

  • United Kingdom, the 50th winner of the Costa Book of the Year announced in London

  • United States, National Freedom Day commemorating the date Abraham Lincoln signed the 13th Amendment abolishing slavery

Wednesday

  • France, most of the country’s remaining Covid restrictions should be lifted, including the reopening of nightclubs

  • UK, Celtic and Glasgow Rangers match kicks off at Celtic Park, Old Firm’s first derby since restrictions on fan numbers were lifted in mid-January

  • United States, Groundhog Day celebrated in the town of Punxsutawney in Pennsylvania

Thusday

  • Bafta announces nominations for EE British Academy Film Awards

  • By-election for the Southend West seat previously held by Tory MP David Amess, who was killed last October

Friday

  • Denmark, the annual Copenhagen Lights Festival begins

  • China, Summit between Chinese President Xi Jinping and his Russian counterpart Vladimir Putin in Beijing

  • UK, deadline for an agreement to be reached between the Mayor of London and the government to cover the shortfall of Transport for London in the event of a pandemic

Saturday

  • The Six Nations rugby tournament opens with Ireland taking on Wales at the Aviva Stadium, Dublin, and Scotland taking on England at Murrayfield, Edinburgh

Sunday

  • Costa Rica, general election

  • Queen Elizabeth reigned for 70 years, the first British monarch to reach this Platinum Jubilee milestone

To hear the news in less than three minutes, Listen to the new FT audio summary, updated three times a day, every day of the week

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