Five things CAs need to know this week: 19 December 2016

CA Today Dubai
By Eleanor O'Neill and Andrew Harbison, CA Today

19 December 2016

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

1. First Minister to set out Scotland’s Brexit plan

Scotland's First Minister Nicola Sturgeon will publish her proposed plan to keep the country in the single market post-Brexit on Tuesday 20 December.

Chancellor Phillip Hammond dismissed any prospect of Scotland winning special concessions on trade or immigration earlier this month. However, Prime Minister Theresa May has apparently indicated a willingness to negotiate, Business Insider reports.

Michael Russell, Minister for UK Negotiations on Scotland’s Place in Europe, said: "Brexit is by far the biggest threat to Scotland’s jobs, prosperity and economy, and that is why we have always been clear that remaining members of the EU – and members of the world’s largest single market – is the best option for our future."

[Business Insider]

2. Post Office and Southern Railways staff to strike

Following the breakdown of talks between the Post Office and the Communications Workers Union (CWU), Post Office staff will strike for five days this week in protest over jobs, pay and pensions. 

It has been reported that the CWU's offer to suspend the strike, in exchange for suspension of the closure of main post offices and for “meaningful negotiations” on pensions and jobs, was rejected by the Post Office.

Meanwhile, Southern Rail commuters face further disruption this week as the RMT conductors' strike continues. Industrial action is scheduled from 00:01 Monday 19 December to 23:59 Tuesday 20 December.

[BBC News]

3. Lords EU Committee to hear evidence on Brexit

It's set to be a busy week for the House of Lords EU Select Committee. The committee will hear from the Chief Ministers of the Isle of Man, Jersey and Guernsey on Tuesday (20 December) and receive evidence from the Office of National Statistics on UK-EU movements of people on Wednesday (21 December).

These meetings will mark the latest attempts of the committee to build a comprehensive picture of the UK after Brexit.


4. Culture Secretary may launch investigation into Sky bid

A petition to prompt an Ofcom investigation into an £11.7bn takeover bid for a controlling share of Sky made by Rupert Murdoch's 21st Century Fox is expected to fall before Culture Secretary Karen Bradley this week.

The MP will then have 10 working days to decide whether an inquiry on the grounds of potential media plurality issues is necessary.

As well as Sky, which owns Sky News and Fox News, Murdoch also controls the Times, the Sunday Times, the Sun and news and sport station TalkSport through separate company News Corp.

[The Guardian]

5. AGM/EGMs for JPMorgan, Record, DotDigial, Frontier IP Group

  • Monday: AGM/EGM for Akers Biosciences, PROACTIS Holdings and World Careers Network. Interims due from Collagen Solutions. 
  • Tuesday: AGM/EGM for Artilium, Gfinity, JPMorgan Japanese Investment Trust and DotDigital. Interims due from Carnival. 
  • Wednesday: AGM/EGM for Syqic, Uranium Resources and VinaCapital Vietnam Opp. Fund. Trading announcement due from Public Power GDR SA.
  • Thursday: AGM/EGM for Reconstruction Capital 2 and Uvenco UK. Interims due from Rambler Metals and Mining. 
  • Friday: AGM/EGM for Frontier IP Group, Mosman Oil And Gas and Novolipetsk Steel. 

[This is Money]

The ICAS offices will be closed from Friday 23 December 2016 until Tuesday 3 January 2017. The CA Today daily news briefing emails will not be sent during this time.


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