Hello and welcome to the working week.
On Monday, the US Congress will preside over the electoral college vote count, which will certify Donald Trump’s election victory. Although this is typically no more than a small formality, the last occurrence four years ago was tarnished by the attack on the US Capitol building.
The Biden administration’s days are numbered. The FT’s Washington team will be keeping a close eye on any last-minute initiatives from the White House over the coming days, especially on Ukraine and the climate, as the outgoing president looks to consolidate his legacy.
Secretary of State Antony Blinken will meet South Korean foreign minister Cho Tae-yul on Monday, the first high-level diplomatic talks since President Yoon Suk Yeol’s impeachment. (Last week’s Lunch with the FT is an illuminating guide to Blinken’s foreign policy thinking.) Over the coming days, South Korea’s main opposition, the Democratic party, plans to summon Yoon to a parliamentary hearing and appoint special counsels to investigate his failed bid to impose martial law.
On Friday, Trump is set to appear for sentencing in the New York “hush money” criminal case. Justice Juan Merchan, who has presided over the trial, signalled in last week’s order that the president-elect could attend the hearing virtually and would not face jail time over the conviction.
That same day, the US Supreme Court will hear arguments on a law that would outlaw TikTok in the country if it is not sold to an American company. The ban is set to come into effect on January 19, a day before Trump’s inauguration. However, the president-elect has urged the court to delay the ban, saying he would prefer “to pursue a political resolution” instead.
Venezuela’s President Nicolás Maduro is set to be sworn in for a third term following his disputed election victory in July. Since the vote, Maduro has clamped down on his political opponents. Dozens of human rights campaigners and journalists have had their passports cancelled and opposition leader Edmundo González has sought political asylum in Spain. Expect a tightly choreographed show of power as his government remains on high alert.
There are a raft of trading updates from UK retailers this week, including Tesco, Sainsbury’s and Marks and Spencer. Anticipate analysis on what the reports reveal about consumer strength this Christmas season. Moreover, analysts will study the reports for clues on which supermarkets will be able to withstand the headwinds from the Labour party’s Budget in 2025, as increased employers’ national insurance contributions squeeze grocers’ margins.
One more thing . . .
It’s a big week for film and TV. Movie buffs can binge-watch the Critics Choice Awards, the National Board of Review gala, the AARP awards and the Golden Globes over the coming days. I won’t be joining them. I haven’t watched much of anything this year. And shamefully, I missed all 10 of our film critic’s best films of 2024.
What must-see film of the last 12 months did I miss? Let me know at [email protected].
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
Tuesday
Wednesday
Thursday
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Greggs Q4 trading update, B&M Q3 trading statement, Marks and Spencer Christmas trading update, Tesco Q3 and Christmas trading statement
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Peru interest rate
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Bank of Mexico monetary policy minutes
Friday
World events
Finally, here is a rundown of other events and milestones this week.
Monday
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US Congress meets to certify Trump’s election
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Antony Blinken to meet South Korean Foreign Minister Cho Tae-yul
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Golden Globe Awards
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Malaysia’s court of appeal to hear jailed former prime minister Najib Razak’s bid for house arrest
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Epiphany
Tuesday
Friday
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US Supreme Court to hear arguments on a law that would ban TikTok if it is not sold to an American company
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Venezuela’s Nicolás Maduro to be sworn in for a third term following his disputed election victory
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President Joe Biden to meet Pope Francis and Italian Prime Minister Giorgia Meloni in Rome
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Donald Trump to be sentenced in ‘hush money’ trial
Saturday
Sunday
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