Former British Prime Minister Harold Wilson reportedly said that a week is a long time in politics. So how long is a month? Given the political and economic turmoil since Liz Truss became party leader in early September, that is a very long time. Perhaps he should have heeded the advice of the FT editorial board.
This week Truss will explain herself to her party gathered for her annual convention in Birmingham. Although there have been reports Tory MP no-showHis Chancellor Quasi Quarteng must be included in the truss. He will address the conference on Monday. Truss will deliver the concluding remarks on Wednesday.
On the other side of the world, the leadership of China is also involved in some party management. The country is beginning its annual Golden Week holiday, which is expected to be a month of patriotic celebration during which President Xi Jinping is set to be given an unprecedented third term as general secretary of the Communist Party and head of the Chinese military. .
Then there are the more traditional elections. You can read an analysis by FT journalists of the vote for Brazil’s “imperfect” presidential election. And this Sunday, Austria will vote to choose its new president.
Finally, it’s going to be another big week for rocket enthusiasts as the SpaceX Crew-5 astronaut mission is set for NASA take off From Kennedy Space Center in Florida to the International Space Station – until Hurricane Ian disrupts proceedings.
In a very thin week for economic data, the focus will be on jobs. The US and Canada publish the numbers on Fridays.
There will also be an opportunity for international comparison with the Purchasing Managers’ Index report for manufacturing and services.
It’s another busy week for news from the High Street. Inflation will dominate UK retailer Tesco’s half-year results: how much of it to absorb, how much to force suppliers to absorb and how much to pass on to consumers. Investors were somewhat surprised in April when the supermarket chain said it would forgo some profit this year in order to maintain pricing, but the decision now looks accurate.
Other retailers are using the money to help their employees deal with the cost of living crisis. The John Lewis Partnership will begin offering free meals to employees of its department stores and Waitrose supermarkets this week. This isn’t entirely a philanthropic measure given the escalating “war for talent” ahead of the busy Christmas trading period and warnings from the employee-owned company this month that it might not be able to pay its annual employee bonuses. Is.
Wages are increasing in the sector. At least three retailers have pushed through wage increases in-year and now they’re also making it out of benefits — free meals, employee discounts and paid breaks between them.
Read the full week ahead calendar here.