Five things CAs need to know this week: 01 May 2017
A look ahead to some of the things happening in business, accountancy and politics this week.
1. Purchasing managers and BoE data released
Purchasing manager's reports released this week should show the UK services sector experienced an encouraging amount of growth. However, it is likely that growth in the manufacturing sector may have slowed to a five-month low, with even weaker growth predicted from the construction sector.
On Thursday the Bank of England (BoE) will release data which should provide some insight into corporate behaviour.
The BoE reported last month that there has been a drop in bank lending to companies and a rise in companies cash holdings which is likely a result of weakness in capital spending.
This could be a result of uncertainty surrounding Brexit, however there are many other factors which could be contributing towards weak capital spending.
2. Sir Brian Souter CA to speak at ICAS event
ICAS President Sir Brian Souter CA outlines his thoughts on how we can grow the economy and build a better society.
The ICAS Insight event, Sir Brian Souter - Building a better society, will take place on 2 May in London.
Calling on his experiences as one of the UK’s most successful entrepreneurs and one of the country’s leading philanthropists, Sir Brian delivers this thought provoking and challenging address with his views on a range of subjects from politics to leadership to Brexit to Trump and reflects on his 20+ years as a Chartered Accountant.
3. Local and mayoral elections take place across the UK
With a snap general election fast approaching, the UK will be heading to the polls this week to vote in local and mayoral elections.
4,851 council seats are being contested in England, Scotland and Wales, with six regions in England voting for new mayors.
These elections will be watched closely as they will likely act as a barometer for the popularity of each party ahead of the general election on 8 June.
4. Greece continues bailout talks
As Greece continues to hammer out the details of its second review of the country’s third bailout, it is expected that a staff-level agreement with creditors should be reached by Wednesday at the latest.
Once this has been confirmed, the measures the government has agreed on will be passed in Parliament before the meeting of the Eurogroup on 22 May.
European Commission President Jean-Claude Juncker has said he is concerned over plans of further pension cuts.
He said: “No major cuts in the pension sector should be pursued by the institutions.”
5. Results due from Aberdeen Asset Management, BP and Sage Group.
- Tuesday: Interims due from Aberdeen Asset Management, BP, Oxford Instruments and Shire.
- Wednesday: Interims due from Imperial Brands, Indivior, Livanova and Sage Group. Finals due from Inspiration Health Care, Osirium Technologies and Sainsbury (J).
- Thursday: Interims due from HSBC Holdings, Inmarsat, Lancashire Holdings and Royal Dutch Shell.
- Friday: Interims due from International Consolidated Airlines, Millennium & Copthorne Hotels and Smurfit Kappa Group.