Five things CAs need to know this week: 19 September 2016
A look ahead to some of the things happening in business, accountancy and politics this week.
1. Theresa May joins UN leaders in NYC
The UK Prime Minister, US President Barak Obama, French President Francois Hollande and Greek Prime Minister Alexis Tsipras are among the UN leaders who will gather in New York this week.
The focus of the UN summit will be on the migration crisis with US president Barack Obama and UN Secretary General Ban Ki-moon both keen to secure progress before they leave their posts.
Theresa May is expected to champion international action on air travel security. She will ask the UN’s Security Council to pass a resolution pledging further measures to tackle terrorist threats and push for an agreement to strengthen security at airports around the world.
2. Labour leadership race draws to a close
The ballot closes for the Labour leadership contest between Owen Smith and Jeremy Corbyn on Wednesday 21 September.
Labour has experienced a turbulent summer with a multitude of resignations in the wake of the Brexit vote. Few have predicted that Owen Smith's leadership challenge will be successful but it has shown a clear divide in party lines, making the future of Labour uncertain.
However, Jeremy Corbyn recently said that he was growing an olive tree on the balcony of his Westminster office and would hold out a branch to rebellious MPs and urge them to return to his shadow cabinet.
The result of the vote will be announced at the party’s national conference in Liverpool on Saturday (24 September).
3. ONS to release public sector finances for August
The statistical bulletin showing the UK public sector budget, borrowing, cash requirement and debt for August 2016 will be released by the Office for National Statistics on 21 September.
July's report showed a decrease in public sector net borrowing and the second successive month of debt falling.
While the July figures did include the first post-EU referendum data results, this latest report is likely to be clearer.
4. Krispy Kreme latest to cook up an IPO in London
Alcuin Capital, the private equity firm that controls Krispy Kreme’s UK arm, is gearing up for an initial public offering of the business this week, valuing the chain at around £200m.
Investec, the firm handling the float, will send marketing materials to City fund managers in the coming days.
The American doughnut retailer is the latest in a procession of companies entering the London stock market. Hollywood Bowl floated at an impressive £240m on Friday and mobile operator O2 and banking software giant Misys are both said to be making plans.
5. Results from French Connection, Kingfisher, Finsbury Food Group, Crossrider
- Monday: Interims due from Gama Aviation, Maintel Holdings, SimiGon and Spectra Systems Corporation. Finals due from Finsbury Food Group and Petra Diamonds.
- Tuesday: Interims due from Crossrider, e-Therapeutics, French Connection Group, Horizon Discovery Group, Judges Scientific, Kingfisher, Lighthouse Group, Smart Metering Systems, Shield Therapeutics, Xeros Technology Group and Yu Group. Final due from PureCircle.
- Wednesday: Interims due from Matomy Media Group, Saga, Sinclair IS Pharma and Venture Life Group. Final due from Transense Technologies
- Thursday: Interims due from Cambridge Cognition Holdings, Gulf Keystone Petroleum, Rose Petroleum, Synairgen and Sphere Medical Holding. Final due from Kier Group.
- Friday: Interim due from Mereo Biopharma Group.