Week ahead

COP28 kicks off, EasyJet upbeat, Lloyds jobs at risk

COP28 climate change talks take place this week

A delegation of 19 Scottish businesses, supported by the Holyrood government, will attend this week’s COP28 climate change conference in in Dubai.

They will participate in a specially designed programme organised by the Scottish Government, Scottish Development International and the Scottish Chambers of Commerce. 

There will be an opportunity to showcase, pitch for investment and network with other businesses and take part in fringe events.  They will attend a series of business networking receptions and take part in activity in partnership with Heriot Watt and Strathclyde Universities.   

Among the other headline makers this week will be Lloyds Banking Group which is expected to outline its restructuring plans and how this will affect up to 2,500 employees.

Workers across the group will be briefed on what the changes will mean, with expectations that middle management jobs are most at risk. However, the group is promising to create more jobs in growth sectors.

Companies reporting this week include airline and holiday operator easyJet which reports full year results on Tuesday and its chief executive Johan Lundgren enters fiscal 2024 in an upbeat mood, judging by an October update.

He declared that fiscal 2023 had ended with a record half and a record fourth quarter in terms of profit and outlined new plans for earnings growth, capital returns to shareholders and aircraft purchases.

However, AJ Bell analysts say that the goal of generating more than £1 billion in annual pre-tax income is yet to fully resonate with the market, “judging by how the shares still languish two-thirds below their pre-pandemic high, even though that target exceeds the 2015 all-time high pre-tax profit of £686 million.”

Events

Green fuel: Tuesday sees the first transatlantic flight by a major airline using pure sustainable aviation fuel – a Virgin Atlantic plane from Heathrow to New York.

Pitch winners: On Wednesday Scottish Edge announces the latest companies which have been successful in pitching for growth funding

COP28: The UN Climate conference COP28 begins on Thursday.

City diary

Monday 27 November

  • First-half results from Volex

Tuesday 28 November

  • Full-year results from EasyJet, Greencore, and Topps Tiles
  • First-half results from Pets at Home
  • Q3 figures from Miller Homes
  • Analysts’ meeting at Rolls-Royce
  • BRC UK shop price index

Wednesday 29 November

  • First-half results from Halfords
  • UK Nationwide house price index
  • UK mortgage approvals

Thursday 30 November

  • Full-year results from Auction Technology, Parkmead
  • First-half results from Dr Martens and Mulberry
  • Analysts’ meeting at Beazley
  • Chinese purchasing managers’ indices (PMIs) for manufacturing and services industries
  • EU inflation
  • US weekly initial unemployment claims





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