Five things CAs need to know this week: 13 May 2019
A look ahead to some of the things happening in business, accountancy and politics this week.
1. Meet the President at The House of Lords
The newly-elected ICAS President invites you to consider the year ahead at an exclusive reception in the prestigious surroundings of the House of Lords, with kind permission of The Lord Stephen MP.
2. Figures on unemployment, productivity and retail sales to be released
Numbers released on Tuesday should show that unemployment has fallen to around 1.3m, which equates to 3.8% of the workforce.
These numbers represent the lowest rate if unemployment in the UK since 1974.
Q1 figures are likely to show that productivity fell slightly with levels only marginally higher than before the recession, which in turn has stalled wage growth.
Retail sales numbers are due to paint a positive picture, with the good weather over Easter having likely helped sales.
3. May to address resignation calls
Graham Brady, Chairman of the Committee, said last week that Mrs May said she intended to remain at her post until she can secure a Brexit deal.
Speaking to the BBC, he said: "She has made clear not only her determination to secure the first stage of the Brexit process in the very near future but crucially to introduce the necessary legislation before the European elections take place, and possibly in the much nearer future than that."
4. Apple to face EU probe
The EU has announced plans to launch a probe into the Apple App store following a complaint from music streaming service Spotify.
The complaint field by Spotify states that Apple has abused its power in the App Store.
In a blog posted in March, Daniel Ek, Spotify CEO, said: "Apple requires that Spotify and other digital services pay a 30 percent tax on purchases made through Apple's payment system, including upgrading from our free to our premium service.
"If we pay this tax, it would force us to artificially inflate the price of our premium membership well above the price of Apple Music. And to keep our price competitive for our customers, that isn't something we can do."
5. Results due from Thomas Cook, Sage, TUI and Brewin Dolphin.
- Monday: Interims due from Obrascon Huarte Lain SA, Bank of Cyprus Holdings, Diploma, TBC Bank and Victrex. Finals due from Centralic.
- Tuesday: Interims due from BGEO, EI, Stock Spirits, TCS, Telecom Egypt and Zytronic. Finals due from Braemar Shipping Services, Great Eastern Energy Coporation, Land Securities Group, Premier Foods and Vodafone.
- Wednesday: Interim due from Brewin Dolphin Holdings, Compass, Marston's, Sanderson, Solid State, Ten Lifestyle and TUI.
- Thursday: Interims due from Euromoney Institutional Investor, Grainger and Thomas Cook. Finals due from Burberry, 3i, Investec, National Grid and Wincanton.
- Friday: Interims due from easyJet, Future and Sage.