Breaking news: China, Hong Kong shares fall as Covid curbs investors

The US is gearing up for Thanksgiving celebrations, so expect the traditional travel chaos and stories of road chaos in the days leading up to the holiday on Thursday. Then get ready for an economic analysis of Black Friday sales numbers the day after.

After a week or so of international summits, President Joe Biden will be forced to talk turkey to turkey this Monday (rather than other world leaders) as he makes the traditional holiday poultry pardon — others, of course, may choose to save the turkey due to escalating costs.

Across the Atlantic, where the pre-Christmas nightmare of bird flu worsens for Britain’s festive poultry farmers, the big constitutional event is a High Court decision – due on Wednesday – on whether the Scottish Parliament can call a second independence referendum without Scotland’s consent. British government at Westminster.

Scottish National Party leader Nicola Sturgeon, who somewhat ironically was not thanked in the first referendum for winning the job of First Minister by forcing the resignation of her predecessor Alex Salmond, has upped the ante by offering IndyRef2.

Scottish independence campaigners take part in a rally in Glasgow

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

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

British business leaders will have their say on UK policy at the CBI conference, which starts in Birmingham on Monday. Speakers include ‘Senior Cabinet Minister’ John Lewis Partnership Chair Sharon White and BT Group Chief Executive Philip Jansen.

Oh yeah, and there’s more football being played. Click for FT’s comprehensive coverage of Qatar.

Economic data

Flash G7 PMI news is the highlight of a light statistical schedule, thanks in large part to Thanksgiving. The OECD will also update its economic outlook forecasts on Tuesday.

Rate-setting intentions will be in the news again with the Federal Open Market Committee’s November minutes showing how views are changing among US central bankers. Rate increases 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 is bucking this trend with an expected huge 150 basis point decline.

Companies

Just in time for the biggest retail event on the US calendar, we’ve got a bundle 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 that will include profits for the home furnishings retailer.

Read the entire weekly calendar here.

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