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Week ahead: UK and global PMIs, Eurozone inflation, US employment data
Financial markets will grapple with Brexit, COVID-19, US election hangover and a host of data releases for a busy end to a chaotic year, as we enter the last month of 2020.
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News
Sky video
UK drug manufacturing given £20m boost to deal with future pandemics
The UK's medicine manufacturing industry is being given a £20m boost to help the response to future pandemics, the prime minister has announced.
News
Reuters
OPEC+ yet to find compromise on oil policy for 2021, say sources
OPEC and allies led by Russia have yet to find a consensus on oil output policy for 2021, after an initial round of talks on Sunday and ahead of crucial meetings on Monday and Tuesday, four OPEC+ sources told Reuters. OPEC+, a grouping comprising members of the of Organization of the Petroleum Exporting Countries, plus Russia and others, had been due to ease production cuts from January 2021, but a second coronavirus wave has reduced demand for fuel around the world. OPEC+ is now considering rolling over existing cuts of 7.7 million barrels per day, or around 8% of global demand, into the first months of 2021, sources have said.
Business
Reuters
Field narrows for global miner Rio Tinto's top job
Rio Tinto will look to a handful of external candidates in a narrowing field for its new chief executive, as the miner tries to win back investors dismayed by the blasting of an ancient Australian rock shelter, bankers and investors say. The top priority for a new CEO will be strong stakeholder management skills, as the world's biggest iron ore miner begins to repair its relationships with Aboriginal groups and navigates a host of government issues elsewhere, they said. Front runners are seen as former BP Chief Financial Officer Brian Gilvary, Anglo American finance director Stephen Pearce, OZ Minerals CEO Andrew Cole, and former Fortescue Metals Group CEO Nev Power.