March 31 (Bloomberg) -- U.S. employers probably added more workers to payrolls in March than the 175,000 a month earlier as the jobless rate fell.
U.S. manufacturing and service industries probably expanded, data this week may also show.
General Motors Co. Chief Executive Officer Mary Barra will testify before U.S. lawmakers about why it took the company more than a decade to recall 1.6 million vehicles linked to 12 deaths.
The European Central Bank is likely to leave its benchmark interest rate at a record low. Data on euro-area unemployment are released.
Japan plans to raise its sales tax to 8 percent from 5 percent as the country seeks to cut its debt.
Companies releasing earnings include China Construction Bank Corp., Monsanto Co. and Prada SpA.
MONDAY, MARCH 31
-Obamacare enrollment deadline. Uninsured Americans who want coverage from private carriers this year must sign up by midnight today (23:59). Six million people had signed up for private plans under the 2010 health-care act as of March 27. The government on March 26 announced an extension for people who attempt to sign up by the deadline.
-Federal Reserve Chair Janet Yellen delivers the keynote speech at the National Interagency Community Reinvestment Conference sponsored by institutions including the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency and the Federal Reserve district banks of Chicago and San Francisco. 08:55 in Chicago (09:55 EDT).
-The International Monetary Fund releases the analytical chapters of its Global Financial Stability Report. Topics covered include emerging-market economies and the implicit subsidy that large U.S. banks enjoy as too-big-to-fail institutions. Press conference at 09:00 in Washington.
-Revived U.S. tax breaks. The Senate Finance Committee may vote this week on whether to extend 55 tax breaks that lapsed Dec. 31, including the research and development credit and a provision that lets some U.S.-based financial companies defer taxes on foreign income.
-The U.S. Federal Communications Commission is scheduled to vote on whether to limit how many television stations a company can control in a local market. FCC Chairman Tom Wheeler, a Democrat, has said some companies are using shared advertising agreements to circumvent ownership limits. Broadcasters say the arrangements help smaller stations shoulder costs of public-interest programming. 10:30 in Washington.
-Apple Inc. vs. Samsung Electronics Co. Apple will allege in a jury trial that Samsung infringed several patents that Samsung says are invalid. Apple this month lost a legal bid to bar U.S. sales of more than 20 Samsung phones in a separate case. 09:00 at the U.S. District Court, San Jose, California (12:00 EDT).
-Euro-area CPI for March. Euro-area inflation unexpectedly slowed in February, keeping pressure on the European Central Bank to defend the currency bloc against falling prices. 11:00 CET (05:00 EDT).
-Chinese President Xi Jinping meets with European Union President Herman Van Rompuy and European Commission President Jose Barroso in Brussels at 09:00 CET (03:00 EDT).
-Financial Stability Board Chairman Mark Carney and Secretary General Svein Andresen hold a press conference at the Bank of England in London following a plenary meeting. London 18:15 (13:15 EDT).
-The Intergovernmental Panel on Climate Change releases the second installment of its report on global warming after a meeting in Yokohama, Japan. IPCC Chairman Rajendra K. Pachauri and representatives from the United Nations and World Meteorological Organization will hold a press conference at 09:00 local time (03/30 20:00 EDT).
-The AFPM International Petrochemical Conference takes place in San Antonio, Texas, with delegates including Peter Cella, the president and CEO of Chevron Phillips Chemical Co. 08:00 in San Antonio (09:00 EDT). Through 04/01.
-The FT Global Commodities Summit takes place in Lausanne, Switzerland. It will focus on the global economy and the role of Russia and Central Asia in commodities, transparency and regulation, and commodity trade finance. Speakers include the CEOs of Gazprom OAO, Gunvor Group Ltd. and Mercuria Energy Group Ltd. 09:00 CET (03:00 EDT). Through 04/02.
-Hyundai Motor Co. will report billionaire CEO Chung Mong Koo’s pay as part of its disclosure of executive salaries for the first time under more stringent rules in South Korea. As early as 08:00 in Seoul (03/30 19:00 EDT).
-The U.S. Department of Agriculture releases its quarterly report on grain stockpiles and its outlook for plantings. 12:00 in Washington.
-Bank of Israel Governor Karnit Flug holds a press conference in Jerusalem to mark the publication of the central bank’s annual report. 11:30 local time (04:30 EDT).
-U.S. Supreme Court is in session for 2013-14 period. Click this line for the weekly schedule.
-ECONOMY: Chicago purchasing managers index (March), Hong Kong retail sales (Feb.) South Korea current account (Feb.), Japan industrial output (Feb.), Turkey trade balance (Feb.), Turkey gross domestic product (fourth quarter), South Africa M3 money supply (Feb.), South Africa trade balance (Feb.), U.K. Hometrack Housing survey (March), BOE Mortgage Approvals (Feb.), Spain current account balance (Jan.), Italian inflation (March).
-CENTRAL BANKS: Chile monetary policy report (first quarter).
-EARNINGS: Evergrande Real Estate Group Ltd.
-South African murder trial of Paralympian athlete Oscar Pistorius resumes at the High Court in Pretoria. It’s expected to continue all week.
TUESDAY, APRIL 1
-U.S. manufacturing probably expanded at a faster pace in March, according to a Bloomberg survey, showing factories are making headway after harsh weather slowed growth. The Institute for Supply Management releases its report at 10:00 in Washington.
-General Motors Co. recalls. GM Chief Executive Officer Mary Barra will testify before the House Oversight and Investigations Subcommittee about why it took the automaker more than a decade to recall 1.6 million vehicles with faulty ignition switches linked to 12 deaths. The panel has also invited National Highway Traffic Safety Administration Acting Administrator David Friedman to testify. 11:00 in Washington.
-U.S. Senate hearing on Caterpillar offshore-tax strategies. The Senate’s Permanent Subcommittee on Investigations will examine Caterpillar Inc.’s offshore tax strategies. The company was sued in 2009 by an employee who alleged that Caterpillar used shell companies and other tactics to evade taxes. 09:30 in Washington.
-The German, French and Polish foreign ministers meet in Weimar, Germany, to discuss topics including the EU and Ukraine. Press conference at 10:40 CET (04:40 EDT).
-North Atlantic Treaty Organization foreign ministers meet in Brussels to discuss Ukraine and the withdrawal of troops from Afghanistan, and may appoint a new civilian chief of the alliance to replace outgoing Secretary General Anders Fogh Rasmussen. The two-day meeting starts in Brussels at about 12:00 CET (06:00 EDT).
-Kerry’s Europe, Africa trip. U.S. Secretary of State John Kerry participates in the conference of NATO foreign ministers, after which he travels to meet leaders in Algeria and Morocco.
-U.S. Defense Secretary Chuck Hagel hosts a meeting in Honolulu of the defense ministers from the Association of Southeast Asian Nations, including Malaysia, Indonesia, the Philippines and Vietnam. Hagel then plans to travel to Asia. Times to be announced.
-The Bank of Japan releases the Tankan business sentiment survey for the first quarter, with the indexes for large manufacturers and non-manufacturers forecast to rise. 08:50 in Tokyo (03/31 19:50 EDT).
-Japan’s sales tax rises to 8 percent from 5 percent. Prime Minister Shinzo Abe is lifting the tax in an effort to rein in the world’s biggest debt burden.
-Euro-area unemployment for February. The unemployment rate, which ECB President Mario Draghi has cited as contributing to low inflation, held at 12 percent in January, near the euro-era record of 12.1 percent last seen in September. 11:00 CET (05:00 EDT).
-Euro-area finance ministers convene in Athens to discuss the progress of Cyprus, Greece and Portugal in their bailout programs and possible direct recapitalization of banks by the European Stability Mechanism. Time to be decided.
-The Bank of England’s Financial Policy Committee publishes the minutes of its March 19 meeting at 09:30 (04:30 EDT).
-Bank of England Deputy Governor for Prudential Regulation Andrew Bailey speaks on a panel at the Westminster Business Forum in London at 10:05 (05:05 EDT).
-World Economic Forum on Latin America. Mexican President Enrique Pena Nieto and Venezuelan billionaire Lorenzo Mendoza lead delegations of political and business leaders at the annual event, which focuses on ways the region can bolster economic growth. In Panama City, Panama. Through April 3.
-China to report official March manufacturing purchasing managers’ index (PMI). The gauge fell to an eight-month low in February, adding to signs of a first-quarter slowdown that’s making it tougher for Premier Li Keqiang to reach the year’s 7.5 percent economic-growth target. 09:00 in Beijing (3/31 21:00 EDT).
-HSBC March China purchasing managers’ index (PMI). A preliminary reading published on March 24 was for 48.1, down from February’s final figure of 48.5. 09:45 in Beijing (3/31 21:45 EDT).
-The Reserve Bank of Australia will set its benchmark interest rate after keeping it at a record-low 2.5 percent since August to stoke domestic industries such as residential construction. 14:30 in Melbourne. (03/31 23:30 EDT).
-Reserve Bank of India Governor Raghuram Rajan will review the country’s benchmark interest rate as he fights inflation. All but one of 25 economists in a Bloomberg survey see the rate being held at 8 percent. 11:00 in Mumbai (01:30 EDT).
-ECONOMY: U.S. vehicle sales (March), South Korea consumer price index (March), South Korea export, import data (March), Japan wages (Feb.), South Africa’s Kagiso purchasing managers’ index (March), Euro-area manufacturing PMI (March), German unemployment (March), U.K. manufacturing PMI (March), Italian unemployment (Feb.).
-CENTRAL BANKS: Lee Ju Yeol takes over as governor of the Bank of Korea.
-In the quarterfinals of European soccer’s Champions League, title holder Bayern Munich is away at Manchester United in a first-leg match at 19:45 local time (14:45 EDT). Barcelona hosts Atletico Madrid at 20:45 CET (14:45 EDT).
-President Barack Obama hosts the World Series baseball champions, the Boston Red Sox, at the White House at 11:15 in Washington.
WEDNESDAY, APRIL 2
-International Monetary Fund Managing Director Christine Lagarde delivers a speech on the global economy and challenges it faces, at the Paul H. Nitze School of Advanced International Studies at Johns Hopkins University. 11:00 in Washington.
-Microsoft Corp. holds its annual Build conference for software developers who use its operating system, server software and programming tools. The world’s largest software company is expected to unveil its Windows Phone 8.1 update and Cortana, a voice-activated information assistant to rival Apple Inc.’s Siri. Starts at 08:30 in San Francisco (11:30 EDT). Through April 4.
-Detroit’s plan to cancel interest-rate swaps. The city will ask a federal judge to let it pay UBS AG and Bank of America Corp.’s Merrill Lynch unit $85 million to cancel the swaps, removing one obstacle in the city’s $18 billion municipal bankruptcy, the nation’s largest. The accord is opposed by bond insurer Syncora Guarantee Inc. 10:00 at the U.S. Bankruptcy Court, Detroit.
-Brazil rate decision. Banco Central do Brasil may raise borrowing costs from 10.75 percent to 11 percent. Inflation remains above the 4.5 percent midpoint of policy makers’ target range, and economists surveyed by the central bank have raised their year-end inflation forecast. After 19:00 in Brasilia (18:00 EDT).
-European Union finance ministers meet in Athens to discuss financial assistance for Ukraine, legislation creating a Single Resolution Mechanism for euro-area banks and economic growth in the bloc. Timing to be decided.
-European Union leaders start a two-day summit with African leaders in Brussels. Time to be determined.
-U.K. Deputy Prime Minister Nick Clegg and U.K. Independence Party leader Nigel Farage hold the second of two broadcast debates on Britain’s membership in the European Union. The anti-EU Farage won last week’s first round, a poll found. The hour-long debate in London starts at 19:00 (14:00 EDT).
-The U.S. Energy Information Administration releases its weekly oil supply report. 10:30 in Washington.
-ECONOMY: ADP U.S. employment (March), U.S. factory orders (Feb.), Brazil industrial production (Feb.), Australia building approvals (Feb), U.K. Nationwide house prices (March), U.K. construction PMI (March).
-CENTRAL BANKS: Bank of Japan to release its first Tankan report on inflation expectations among companies.
-EARNINGS: Monsanto Co., Prada SpA.
-In the quarterfinals of European soccer’s Champions League, last year’s losing finalist Borussia Dortmund is away at Real Madrid and Paris Saint-Germain is at home against Chelsea in first-leg matches. The games start at 20:45 CET (14:45 EDT).
THURSDAY, APRIL 3
-The ECB will leave its benchmark interest rate unchanged at a record low 0.25 percent, according to a survey of economists, after President Mario Draghi reinforced policy makers’ commitment to keep borrowing costs accommodative by citing spare capacity in the 18-nation economy. The ECB announces its decision at 13:45 CET (07:45 EDT). Draghi holds a press conference at 14:30.
-U.S. service industries probably rebounded in March from the slowest pace since February 2010, according to a Bloomberg survey, indicating the economy will pick up. Services account for about 90 percent of the economy. The Institute for Supply Management reports at 10:00 in Washington.
-The U.S. trade deficit was probably little changed in February from a month earlier, according to a Bloomberg survey, suggesting that export growth did little to propel the economy in the first quarter. The Commerce Department reports at 08:30 in Washington.
-IMS Health Holdings Inc., a health-care information technology company taken private four years ago, plans to raise as much as $1.37 billion in an initial public offering. The company’s owners include TPG Capital, Canada Pension Plan Investment Board and Leonard Green & Partners LP. Including debt, the sale would value the company at $10.6 billion, at the high end of the price range and about double the company’s value in 2010. IMS will list on the New York Stock Exchange under the symbol IMS and start trading on April 4.
-ECB President Mario Draghi speaks at the award ceremony of the Generation Euro competition in Frankfurt at 16:00 CET (10:00 EDT).
-The United Nations Food and Agriculture Organization publishes its food price index for March. 09:00 in London. (04:00 EDT).
-The U.S. Energy Information Administration releases its weekly natural gas supply report. 10:30 in Washington.
-ECONOMY: U.S. initial jobless claims (weekly), Challenger U.S. job cuts (March), U.S. consumer comfort (weekly), Australia retail sales, trade (Feb.), China non-manufacturing PMI (March), China HSBC services PMI (March), Turkey consumer price inflation (March).
-EARNINGS: Barry Callebaut AG.
-PGA tour. The $6.4 million Houston Open, the final PGA tour event before the Masters Tournament, starts in Humble, Texas. Tee times to be determined. Through April 6.
FRIDAY, APRIL 4
-Employers in the U.S. probably added more workers to payrolls in March than the 175,000 a month earlier, according to a Bloomberg survey. At the same time, the unemployment rate may have dropped to 6.6 percent, matching the lowest level since October 2008. The data may signal the labor market began to shake off the effects of severe winter weather. The Labor Department reports at 08:30 in Washington.
-President Barack Obama hosts Prime Minister Mehdi Jomaa of Tunisia at the White House to discuss topics including economic and security cooperation. The U.S. has guaranteed Tunisian debt to smooth its transition to a democratic government after protests toppled the government of President Zine El Abidine Ben Ali in 2011. Time to be determined.
-ECONOMY: Canada jobs report (March), German factory orders (Feb.), U.K. new car registrations (March).
-SOVEREIGN RATING UPDATES: Abu Dhabi (S&P), Republic of Congo (S&P and Fitch), Greece (Moody’s), Lithuania (Fitch), Mauritius (Moody’s), Moldova (Moody’s), Qatar (S&P), Slovakia (Moody’s), Turkey (Fitch), Zambia (S&P).
SATURDAY, APRIL 5
-National Collegiate Athletic Association men’s basketball tournament semifinals, known as the Final Four, takes place in Arlington, Texas. The first of the day’s two games begins about 17:00 (18:00 EDT.) The winners advance to the national championship game on April 7.
-Afghan voters will head to the polls to pick President Hamid Karzai’s successor in the third presidential election since the U.S. invasion in 2001. A runoff will be scheduled if no candidate wins more than half of the votes. 08:00 in Kabul (04/04 23:30 EDT).
-Western Australian voters head back to the polls to elect six federal senators after the country’s top court rejected the results of a Sept. 7 ballot. The Australian Electoral Commission lost 1,370 ballots cast in the last poll. The Senate has the power to block and amend legislation and its composition is crucial to Prime Minister Tony Abbott’s efforts to repeal a carbon-price mechanism and a mining profits tax. The new 76-member upper house takes over on July 1.
-Horse racing’s Grand National, one of the biggest betting events in U.K. sports, takes place at Aintree, Liverpool. 16:15 local time (11:15 EDT).
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