Five things CAs need to know this week: 13 March 2017
A look ahead to some of the things happening in business, accountancy and politics this week.
1. Greek debt talks to continue between IMF and EU
Negotiators representing the EU and International Monetary Fund (IMF) are set to continue bailout talks with Greece this week.
A deal is being sought on the financial and regulatory reforms that Athens will need to undertake. An IMF spokesman said that important progress had been made and focus was likely to be on labour and pension markets.
The full inclusion of the IMF in the €86bn bailout would ensure protection against a crisis when Greece faces a €7bn debt repayment in July.
Many Euro area finance ministers have deemed the Fund's intervention as essential to an acceptable deal.
2. The Fed is expected to introduce a US rate hike
Federal Reserve Chair Janet Yellen has indicated that the US central bank will hike rates at its policy meeting on 14-15 March.
Strong jobs growth and rising wages reported last week have set a positive tone for the conference, despite slowing economic growth.
Tom Porcelli, RBC Capital Markets Chief US Economist, said: "By any measure this report is consistent with an exceedingly healthy labor backdrop and, I think more critically, it's a number that will embolden the Fed to raise rates in March."
The Fed lifted its benchmark overnight rate in December and has forecast three rate increases for 2017.
3. General election to take place in the Netherlands
Dutch voters will take to the polls on Wednesday to either retain the current Liberal government under Mark Rutte or elect a new Prime Minister.
Populist Geert Wilders had become known in international media as the 'Dutch Trump' during the campaign, having pushed an anti-immigration agenda that was seemingly well-received by the electorate. However, his popularity has diminished in recent weeks, putting both parties at an even keel for the election.
The Netherlands vote is regarded by many as an indicator for political feeling in the rest of Europe.
4. Former minister to push energy price cap
John Penrose, a former Conservative Cabinet Office Minister, will address the government over a 'relative price cap' initiative for energy suppliers on Thursday 16 March.
The proposal for powers allowing Ofgem to set a maximum increase for out-of-contract energy customers on default tariffs will be presented at a backbench debate in the House of Commons.
Penrose is backed by more than 50 MPs, including Labour's Caroline Flint and Patricia Gibson of the SNP.
5. Results due from French Connection, The Gym Group, Prudential, Balfour Beatty
- Monday: Finals due from Computacenter, Grupo Clarin, Gresham Computing, Hutchison China Meditech Ltd, Telit Communications and Telecom Egypt.
- Tuesday: Interims due from Eagle Eye Solutions Group and Kalibrate Technologies. Finals due from Advanced Medical Solutions Group, Antofagasta, Applegreen, Brady PLC, Burford Capital Ltd, Crossrider, French Connection Group, Gresham Computing, The Gym Group, InterQuest Group, Prudential, SIG PLC, Surgical Innovations Group, TP Icap and TCS Group Holding.
- Wednesday: Interims due from Clinigen Group and Thinksmart Ltd. Finals due from Fusionex International, Gem Diamonds, Hikma Pharmaceuticals, MHP S.A GDR, Marshalls, Robert Walters and StatPro Group.
- Thursday: Finals due from Megafon, Balfour Beatty, Capital Drilling Ltd and Oxford BioMedica.
- Friday: Final due from React Group.