Five things CAs need to know this week: 17 July 2017
A look ahead to some of the things happening in business, accountancy and politics this week.
1. Nuclear materials and the ECJ focus of Brexit negotiations
Brexit talks will continue this week between the UK and the EU this week, with two issues in particular likely to be the main focus of the discussions.
One will be the role the European Court of Justice play in the UK post-Brexit.
On Thursday, the UK published its position paper on the EU in which it says that the ECJ should not hold any further jurisdiction over UK cases, including those which were not before the court on the day of the EU referendum result.
It is the EU’s position that all cases in the UK which originated in UK courts up to the day the UK formally leaves the bloc should still fall under the ECJ’s jurisdiction.
On the subject of nuclear material, the UK wants to ensure ownership is held by whoever has the right to it irrespective of where the material is. This would mean that liability of nuclear material sent to the UK from EU countries to be turned into “higher quality nuclear waste” would remain with those who sent it.
2. Nigel Risner to speak at ICAS event
Join motivational speaker, author and TV presenter Nigel Risner for his lively and interactive presentation which demonstrates how his simple, yet proven, formula can positively influence others.
Managers want to know how to maximise productivity and efficiency from their staff, salespeople need to build a better rapport with customers, and employees want to get along with their peers and managers. Nigel illustrates how to decipher personal style first, then identify the styles of others and finally adjust personal behaviour to increase cooperation, relationships and profit.
You had me at hello: The new rules for better networking takes place 20 July in London and is free to members.
3. Inflation and sales figures to be released
Figures on consumer price inflation will be released tomorrow (Tuesday) by the ONS.
The data is expected to show that prices have risen to a near four year high to 2.9%.
The fall in the pound following the UK's decision to leave the EU has caused some Bank of England policy makers to consider the possibility of a rise in interest rates in the coming months.
The ONS will also be releasing data on June retail sales later in the week (Thursday) which are likely to have increased by around 0.4%.
4. Possible announcement from the ECB
The European Central Bank (ECB) could announce details of a planned exit from quantitative easing this week.
The ECB’s President Mario Draghi is due to deliver the banks latest policy decisions during a meeting in Frankfurt on Thursday.
It is expected a move away from quantitative easing would give sterling a boost, allowing it to recover since its drop following the EU referendum result last year.
It is expected that such a move would be used to calm expectations from markets which have bid the Euro up in anticipation of the ECB’s exit from its stimulus programme, expectations which may not be met by the end of the month.
“We expect Mario Draghi to adopt a rather dovish tone on the back of the absence of major improvement in inflation dynamics since the June meeting,” said Alan Lemangnen at Natixis.
5. Results due from Moneysupermarket.com, Sports Direct and IG Group Holdings.
- Monday: Trading statement due from Rio Tinto. Interims due from Etalon.
- Tuesday: Interims due from Synectics. Finals due from Castleton Technology, Ideagen, IG Group Holdings and NCC Group.
- Wednesday: Trading statements due from Evraz, RPC, Severn Trent and TalkTalk Telecom. Interims due from Drax and Wizz Air Holdings.
- Thursday: Interims due from Kcell Jsc, Moneysupermarket.com, Nichols and Unilever. Finals due from Sports Direct International.
- Friday: Trading statements due from Close Brothers, Euromoney Institutional Investors and Vodafone. Interims due from Acacia Mining and Capital and Countries Properties.