Business Calendar: reeling retail, parched Europe

STORY: Here’s what to watch in the world of business and finance over the next seven days.

Retailers will round off earnings season in the U.S.

Numbers from Walmart and Target will show whether consumers are reining in spending amid a cost-of-living crunch.

Official U.S. retail sales numbers on Wednesday will give the broader picture.

British shoppers aren’t set for any relief.

Inflation numbers on Wednesday are predicted to top the 9.4% seen in June.

Retail sales data may also add to signs that the UK is headed for a long and deep recession.

Rate rises look far from over, down under.

The Reserve Bank of New Zealand is widely expected to increase again on Wednesday.

Wages data due the same day in Australia may fuel bets on further hikes there too.

Europe will keep praying for rain, with a drought now making its energy crisis worse.

The Rhine river is getting so shallow that barges can’t carry full loads of coal to German power stations

Norway may also have to cap hydropower exports as reservoirs run low.

And the cooling U.S. housing market gets two health checks.

July data on housing starts is due Tuesday, after a nine-month low in June.

Numbers on existing home sales then come on Thursday, after they hit a two-year low the month before.