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Live News: UK economy set to shrink 1.3% next year, KPMG says

Bennie Thompson and Liz Cheney, Chairs and Vice Chairs of the Committee of Inquiry into the January 6, 2021 Capitol Attacks © `

We are well into the holiday season with Christmas rounding out the next seven days. But there is still serious work to be done.

Washington’s Jan. 6 committee has set Wednesday as the date it will present its report on the 2021 storming of the US Capitol and vote on whether to institute criminal proceedings against those involved.

Only a fraction of the material gathered in the 18-month investigation will make it into the eight-chapter final report. Attention is expected to focus on the evidence uncovered about the role of former President Donald Trump and his efforts to reverse his 2020 election loss, as well as ways to prevent a repeat attack.

More strikes will disrupt the UK workweek ahead of the Christmas holidays. The nurses are said to be on strike again on Tuesday. Also that day, on the eve of the first planned ambulance strike, which is expected to involve up to 10,000 workers, the national secretary of the GMB, one of the unions involved in the action, was called to testify before MPs in Westminster over the dispute along with executives the NHS and Ambulance Service to explain what is behind this and why no solution has been found.

It’s not just strikes reminiscent of the 1970s that are giving Brits a blast from their past. On Sunday, the nation returns to something last heard in the 1950s: a national Christmas address from a king. Given Queen Elizabeth’s mastery of the medium, Charles III. have a lot to offer when he delivers his first Christmas message on Sunday afternoon. Perhaps he’s hoping this king’s speech will be as surprising a hit as its namesake was on the big screen nearly 12 years ago.

economic data

Economic news will be dribbled over the next few days after last week’s onslaught of interest rate and inflation announcements. The Bank of Japan is set to announce its latest monetary policy move, while the US and the UK come out with their final best estimates of last quarter’s GDP moves, with many people anticipating a recession.

Pursue

A bunch of results this week. After the World Cup, where the logo was pasted over soccer shirts and boots, Nike hopes to please its investors by announcing second-quarter results on Tuesday. The world’s largest sportswear manufacturer has addressed issues of balance in its progressive marketing campaigns (not sure if its involvement in Fifa Qatar 2022 helped with that) after losing its second diversity officer in as many years this summer .

Bunzl is widely regarded as a boring but worthy company that appears in the financial press every six months. And this could be his week. The supplier of hard hats, beard guards and disposable cutlery is expected to confirm a strong end to its fiscal year when it provides a trading update on Wednesday with good sales growth supported by numerous acquisitions announced over the past 12 months.

Finally, Tuesday is the deadline a High Court judge has given for UK electricity utility Octopus Energy to take over its collapsed rival Bulb. Judge Zacaroli confirmed that the power transmission system deal could be approved. But the dispute is far from over. Competitors Eon, British Gas and Scottish Power have until that date to take legal action. Last week, Centrica warned that the deal could breach EU state aid rules. This could mean that the European Commission interferes.

Read the full calendar for next week here.

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