Data this week will probably show retail sales in the U.S. rose in November by the most in five months, while factory production in the U.K. grew in October for a second consecutive month. Elsewhere, the Chilean presidential election may determine whether the country’s companies boost spending, and Australia’s conservative government will probably issue its midyear fiscal review.
Australia’s A$10 billion ($9.1 billion) clean-energy fund, set to be wound-up by the new Coalition government, is lobbying to stay in business to aid the nation’s fight to reduce greenhouse gas emissions.
Prime Minister Tony Abbott’s election pledge to turn Australia’s remote north into a food bowl for Asia has set him on a collision course with his own government over foreign ownership of agricultural land.
Australia’s newly elected leaders, claiming a mandate to dump the old government’s climate policies, would actually protect programs the defeated Labor party was using to prepare for emissions trading.
Israel’s opposition Labor Party elected parliament member Isaac Herzog as its new leader in an upset victory over incumbent Shelly Yachimovich, a change that could help peace negotiations with the Palestinians.
A few years back Israeli cannabis smokers grappled with the notion that their drug money often enriched the country’s foes. These days, they’re more likely to light up marijuana produced in Tel Aviv basements or villas outside Jerusalem than hashish smuggled in from abroad.
Australia plans to sell 20-year notes, its longest-tenor nominal bond ever, fulfilling a promise by Treasurer Joe Hockey to extend the yield curve as the government seeks to finance ongoing budget deficits.