Five things CAs need to know this week: 18 July 2016
A look ahead to some of the things happening in business, accountancy and politics this week.
1. CPI and other UK economic indicators due
After the Bank of England surprised the markets with leaving interest rates unchanged, this week we will get an insight into the short term impact of the UK’s decision to leave the EU.
The consumer price index (CPI) will be released on Tuesday (19 July), unemployment and average earnings figures are due on Wednesday (20 July), and retail sales will follow on Thursday (21 July).
2. ECB holds first monetary policy meeting since Brexit vote
The European Central Bank (ECB) will hold its first monetary policy meeting since the EU referendum result.
Thursday's meeting (21 July) will include an interest rate announcement for the Eurozone economy. However, economists surveyed by Bloomberg predict that there is "little chance" ECB President Mario Draghi will announce any new stimulus measures just yet.
3. Trident vote, Labour leadership and May’s first questions
It’s set to be another busy week in British politics. Later today (18 July), the UK parliament will vote on whether to renew its commitment to the Trident nuclear weapons system. David Cameron previously said he believed the vote would “confirm support for replacing the full fleet of four submarines”.
Also today, Labour leadership contenders Angela Eagle and Owen Smith will hold hustings to pitch for support from MPs. Mr Smith, who launched his official bid for the leadership on Sunday, hinted that he would withdraw from the race if Ms Eagle wins more support.
Prime Minster Theresa May will face her first parliamentary questions on Wednesday (20 July).
4. G20 meeting and UN trade conference
China is hosting a G20 meeting of finance ministers and central bank governors in Chengdu this weekend (23-24 July).
China’s commerce minister Gao Hucheng recently said the G20 economies must lead the way to improve the global economy. He said the world's economy is still “lacking in strength” and global trade and investment had not yet recovered from pre-financial crisis levels.
Meanwhile, the United Nations (UN) is holding its conference on trade and development all week until Thursday in Nairobi.
5. Updates from BHP Billiton, Rio Tinto, SSE, EasyJet, Vodafone
- Monday: Interims from Microgen plc. Finals from Mirada plc. Trading updates from British Land Co and Rio Tinto.
- Tuesday: Interims from Alliance Pharma and Synectics. Finals from ASA Resource Group. Trading updates from BHP Billiton, Royal Mail and Evraz plc.
- Wednesday: Trading updates from Anglo American, Clinigen Group, Fresnillo, Revolution Bars, Severn Trent, TalkTalk Telecom, Wizz Air.
- Thursday: Interims from Nichols plc, Unilever, W.H. Ireland Group. Trading updates from Babcock, Britvic, Daily Mail, EasyJet, SABMiller, SSE, Tate & Lyle.
- Friday: Trading updates from Big Yellow Group and Vodafone Group.