ANOTHER round of job cuts at BT and an update on bad debts from HSBC will dominate the City agenda this week.

HSBC is the last of the major UK banks to report on first-quarter trading when it updates today.

It said consumer banking had shown resilience, with stronger margins and volumes from mortgages and an “excellent” quarter at wholesale banking.

Although Credit Suisse analysts are expecting HSBC similarly to report strength from the wholesale side, with a strong investment banking business also adding support, there may be more gloom on bad debts.

Credit Suisse is forecasting about another $5bn (£3.3bn) in US consumer impairment charges.

Telecoms company BT is expected to announce plans to shed as many as 10,000 staff and reveal more than £1bn in write-downs when it delivers its full-year results on Thursday.

Analysts forecast the firm will reveal annual underlying profits of £4.72bn, down from £5.78bn the previous year.

Updates on Wednesday from newspaper publishing firms Trinity Mirror and Johnston Press are likely to underline the huge challenges facing the sector.

The long-term structural challenges of competing with websites for once-staple advertising income have been exacerbated by the impact of recession in the past 12 months.

The Bank of England’s decision to pump an extra £50bn in newly-created money into the economy came as a surprise this week.

The move takes the Monetary Policy Committee’s quantitative easing programme to £125bn – only £25bn below its permitted ceiling.

Markets will gain more insight into the thinking behind the decision when the bank publishes its quarterly forecasts on inflation and growth on Wednesday.

Investors are likely to be cheered when supermarket Sainsbury’s gives its fullyear results on Wednesday.

The food retailer is tipped to reveal underlying pre-tax profits of £526m for the year to March 21, up from £488m in the previous 12 months.

Thomas Cook will give an update on how the travel sector is faring when it reports interim figures on Thursday.

It also comes after the recent swine flu outbreak, which may see Thomas Cook provide an indication of any impact on bookings.

■ Companies reporting this week include: Tomorrow Finals: Stobart.

Wednesday Finals: FirstGroup, Sainsbury’s, VT.

Thursday Finals: BT, Invensys, National Grid; Interims: Thomas Cook.