COP30 to start without the US

Hello and welcome to the working week.

In case you haven’t heard, the next fortnight’s news run is going to involve a lot of talk about climate change. On Monday, the 30th session of the Conference of the Parties (COP30) to the United Nations Framework Convention on Climate Change officially opens in Belém, the gateway to Brazil’s lower Amazon region. There has, of course, been quite a build-up, including a meeting of 30 heads of state and government in the port city last week.

And this show has another fortnight to run, at least. COPs rarely end on time, but we will get a sense of whether the Brazilians can get an agreement over the line over the coming days. FT reporters will be on the ground, providing updates. Click here to keep up to date.

One person who will not be jetting into town is Donald Trump. The US is expected to be absent from the talks, but the president will loom over the gathering, with big questions concerning whether countries can push for ambitious climate action amid pressure from the White House for a global green retreat.

Trump has the excuse of attending to guests. Ahmed al-Sharaa is coming to the White House, the first visit by a Syrian president to the executive mansion, and he is expected to sign an agreement during the trip committing Syria to the fight against Isis.

What won’t be happening in Washington is the release of much of the economic data needed by the markets, unless those on Capitol Hill can at last find a resolution to the federal shutdown. This could ensure more attention to the data that will get through, such as The Conference Board Employment Index, out on Monday, and inflation figures, which will be released on Thursday and Friday despite the shutdown. At least the trade truce between the US and China, which was due to end on Monday, has been postponed.

The economic data highlights from elsewhere include UK employment figures on Tuesday, German inflation data on Wednesday and preliminary third-quarter GDP and productivity estimates from the UK on Thursday, and a first call on third-quarter GDP from the EU on Friday. Full details below.

We are getting over the hump of earnings announcements for another season, but still they keep coming, notably Vodafone on Tuesday giving a post Three merger update, Disney (can it keep the magic alive?) and Tata Motors reporting quarterly results that could show the impact of August’s cyber attack that ground Jaguar Land Rover to a halt. Again, more details below.

One more thing . . . 

Time now for a rant. We are barely into November, amid the sobriety of Armistice/Veterans Day, and the Christmas displays are being unveiled. London’s Covent Garden turns on its festive lights on Wednesday, following nearby shopping thoroughfare Oxford Street. On Friday, Buckingham Palace opens its first Christmas shop for goodness sake — aren’t royals at least meant to display some element of decorum! I know I am not the first (by a long chalk) to point this out, but can we decide a sensible date closer to December 25 for all this tinsel traipsing? Email me at jonathan.moules@ft.com or, if you are reading this from your inbox, hit reply, and have a good week.

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

• Bank of England deputy governor for monetary policy Clare Lombardelli makes opening remarks at the Bank of England and Bank of Ghana pan-African Central Bank Governors’ conference in Accra, Ghana

• Japan: summary of opinions from last rate-setting meeting

• UK: CIPD Labour Market Outlook

• US: The Conference Board Employment Index

• Results: ANZ FY, Barrick Mining Q3, Interpublic Q3, Kainos HY, Kingspan trading update, NOK Q2, Tyson Foods Q4

Tuesday

• Bank of England Monetary Policy Committee Member Megan Greene is a panellist at the UBS European Conference in London

• FT Live’s two-day Global Pharma and Biotech Summit begins in person in London and online. Register here

• UK: November labour market figures. Also, British Retail Consortium October Retail Sales Monitor

• US: Johnson Redbook Retail Sales Index

• Results: AB Dynamics FY, Hilton Food Group trading update, Informa 10M trading update, Kirin Holdings Q3, Oxford Instruments HY, Porsche Q3, SoftBank Q2, Sony Q2, Vodafone HY

Wednesday

• Lee Foulger, director of financial stability strategy and risk at the

  Bank of England, gives a keynote speech at the Association of Financial Market’s 20th annual European government bond conference

• Reserve Bank of Australia deputy governor Andrew Hauser gives a speech: On the Rails or Off to the Races? The Outlook for the Australian Economy

• Argentina: October Consumer price index (CPI) inflation data

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

• Results: ABN Amro Q3, Alcon Q3, Asahi Q3, Avon Technologies FY, BAE Systems trading update, Bayer Q3, Brenntag 9M interim statement, Bridgestone Q3, Cisco Systems Q1, Eon Q3, Experian HY, Flutter Entertainment Q3, Foxconn Q3, Fuller’s HY, Infineon Technologies Q4, Marshalls trading update, RWE Q1, SSE HY, Swiss Life Q3 trading update, Tata Steel Q2, Taylor Wimpey trading update, Volex HY

Thursday

• Victoria Cleland, the chief cashier and executive director of payments at the Bank of England, is a panellist at the Singapore Fintech Festival

• IEA Oil Market Report

• Australia: October Labour Force Survey

• EU: European Central Bank Economic Bulletin

• UK: preliminary Q3 GDP and productivity estimates

• US: October CPI inflation rate data

• Results: 3i Group HY, Aegon Q3, Alstom HY, Applied Materials Q4, Aviva Q3 trading update, B&M HY, Burberry HY, Deutsche Telekom Q3, Disney Q4, Grafton Group trading update, Kier trading update, Merck Q3, Persimmon trading update, Premier Foods HY, Qinetiq HY, Rolls-Royce trading update, Siemens Q4, Tencent Q3, Ubisoft Entertainment HY, United Utilities HY, Wizz Air HY

Friday

• EU: preliminary Q3 GDP estimate

• France: October CPI inflation rate data

• UK: KPMG/REC Report on Jobs

• US: October producer price index (PPI) inflation rate data

• Results: Allianz Q3, Landsec HY, Melrose Industries Q3 trading update, Swiss Re 9M/Q3, Tata Motors Q2

World events

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

Monday

• Brazil: UN Climate Change Conference (COP30) begins in Belém

• China: Spanish King Felipe VI begins a four-day state visit to the country

• UK: Booker Prize for Fiction winner announced at a ceremony in London

• US: Syrian President Ahmed al-Sharaa meets US President Donald Trump at the White House

Tuesday

• Armistice Day, using the date for the end of the first world war to commemorate those who have died in all conflicts. In the UK, this will be marked with a two-minute silence and a ceremony at the National Memorial Arboretum in Staffordshire. In the US, which like some countries refers to this as Veterans Day, it is a national holiday, but financial markets will remain open. Canada and others mark the moment as Remembrance Day

• Canada: G7 Foreign Ministers’ Meeting begins in Niagara region, running until tomorrow

• China: Singles’ Day, when unattached men and women receive gifts or dinner invitations from friends in relationships, on the 11th day of the 11th month

• Iraq: parliamentary elections

• Ireland: president-elect Catherine Connolly is inaugurated in Dublin Castle, succeeding Michael Higgins

Wednesday

• Switzerland: Sotheby’s Geneva auction house will offer the Glowing Rose, a 10.08-carat diamond that could fetch $20mn. It is only the third vivid pink cushion cut diamond over 10 carats to come to market in 10 years

• US: Washington National Cathedral will host a funeral service for world-renowned British conservationist Jane Goodall

Thursday

• China: Thai King Maha Vajiralongkorn begins a five-day state visit, the first by a Thai monarch since 1975

• South Africa: G20 T20 Summit begins in Johannesburg, running until tomorrow

• US: Washington-based non-profit body Freedom House launches its report Freedom on the Net 2025: An Uncertain Future for the Global Internet

Friday

• EU: Economic and Financial Affairs Council (Ecofin) meeting of EU finance ministers to discuss negotiations with the European parliament on the bloc’s general budget for 2026.

• Japan: foreign ministry holds a meeting with NGOs and civil society organisations related to the “National Action Plan on Women, Peace and Security” in Tokyo.

• UK: resident doctors in England, previously known as junior doctors, represented by the British Medical Association, are due to begin a five-day strike. The terminally ill adults (end of life) bill, aka the assisted dying bill, progresses to committee stage, the first chance for members of the House of Lords to suggest changes to the proposed legislation. Also, King Charles celebrates his 77th birthday with gun salutes around the country.

Saturday

Sunday

• Chile: presidential and parliamentary elections

• Ecuador: referendums on whether to allow foreign military bases in the country and whether to remove state funding of political parties

• US: the American Revolution, a television documentary by Ken Burns, begins on the public service channel PBS