Five things CAs need to know this week: 16 January 2017

CA Today Arlington
By Eleanor O'Neill, CA Today

16 January 2017

A look ahead to some of the things happening in business, accountancy and politics this week.

1. Donald Trump to be sworn in as President of the United States

Friday 20 January will see the official presidential inauguration of US President-elect Donald Trump.

In an interview with former Justice Secretary Michael Gove for The Times, Mr Trump promised a quick trade deal with the UK after he takes office.

He said: "I’m a big fan of the UK. We're gonna work very hard to get it done quickly and done properly. Good for both sides."

The inauguration ceremony is traditionally an A-list event, attended and endorsed by celebrities and politicians alike. However, big names such as Elton John, Rebecca Ferguson and Moby have all reportedly declined to perform at the event.

Inauguration Chairman Tom Barrack commented: "[We are] fortunate in that we have the greatest celebrity in the world, which is the president-elect." 

[The Guardian

2. Prime Minister to make long-awaited Brexit speech

Downing Street have confirmed that Theresa May will set out a clearer plan for the UK's Brexit negotiations in a speech on Tuesday 17 January.

The Prime Minister has previously pledged to put Article 50, which will jump-start the UK's exit from the EU, into motion by the beginning of April this year. Up until this point, however, details of the separation have been unclear.

Shadow Brexit secretary Keir Starmer said: "The Prime Minister must therefore take this opportunity to reassure the country that she has a plan for Brexit and that she will fight for a deal that prioritises jobs, the economy and delivers trading arrangements that are free of tariffs and bureaucratic impediments."

The speech comes as the Supreme Court is preparing to rule on whether Article 50 can be triggered without a vote in Parliament.

[BBC News

3. The annual meeting of the World Economic Forum takes place in Davos

A record 3,000 political and business leaders will convene in Davos-Klosters, Switzerland on 17-20 January for the 47th World Economic Forum (WEF) Annual Meeting, this year themed around 'responsive and responsible leadership'.

Chinese President Xi Jinping will be the first Chinese president to attend the event, leading the country’s biggest-ever delegation as a statement of intent that China wants to assume a global leadership role. He is expected to defend globalisation in his opening address, in direct contrast to comments made by US President-elect Donald Trump.

Topics under discussion at the conference will include strengthening global growth, reforming market capitalism, preparing for the Fourth Industrial Revolution and re-imagining global co-operation.

[The Guardian]

4. ONS will release unemployment and house price figures

The Office for National Statistics is due to publish several reports this week, including the UK house price index for November 2016 and the latest UK labour market figures.

Labour market statistics, including unemployment figures, will be released on Wednesday 18 January. The last report showed that between May-July 2016 and August-October 2016, the number of people in work remained steady while the number of economically inactive people increased.

The UK house price results are due on Tuesday 17 January. The figures for October 2016 stated that the average house prices in the UK had increased by 6.9% in the course of the year, continuing the strong growth seen since the end of 2013.

[ONS]

5. Trading statements from Experian, Moneysupermarket.com, Royal Mail, Close Brothers Group

  • Monday: Trading statements from Ashmore Group and Rio Tinto. 
  • Tuesday: Trading statements from Cairn Energy, Provident Financial and Sinclair IS Pharma. Finals due from Elegant Hotels Group. 
  • Wednesday: Trading statements from Burberry Group, Experian, JD Wetherspoon and Ladbrokes Coral Group.
  • Thursday: Trading statements from British Land Co, Halfords Group, Moneysupermarket.com Group, Pets at Home Group and Royal Mail. Interims due from NCC Group and 1pm. 
  • Friday: Trading statement from Close Brothers Group.

[This is Money]

Topics

  • Business

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