Business Calendar: calm or calamity

STORY: From hopes for renewed calm in the UK, to clues on what Xi Jinping will do next, these are the business and finance stories to watch out for over the coming week.

Investors will look to see if Friday’s dramatic events in the UK have calmed market jitters.

Prime Minister Liz Truss ditched finance minister Kwasi Kwarteng and reversed course on some tax cutting plans.

The move is intended to restore her government’s credibility after plans to slash taxes and ramp up borrowing roiled currency and bond markets.

The carnage on UK bond markets has also raised general jitters about stability risks, with the IMF warning of potential “financial market contagion”.

The coming days will see investors hunt for other possible hot spots that regulators might have missed.

Third-quarter earnings season will heat up on Wall Street.

Traders will watch how big firms are coping with a strong dollar and soaring inflation.

Overall earnings are forecast to grow at their slowest pace since late 2020.

China’s twice-a-decade Communist Party Congress gets under way.

Xi Jinping is set to be confirmed for an unprecedented third term.

Investors will be hoping for clues to economic policy, and signs that he’s set to ease health-crisis restrictions that have hobbled business.

And currency traders will be back on intervention watch.

Japan and South Korea have already been stepping in to prop up their battered currencies.

It’s thought China has also told state banks to sell dollars to cushion the yuan’s slide.

Advertisement