Five things CAs need to know this week: 24 July 2017

CA Today Cincinnati
By Eleanor O'Neill, CA Today

24 July 2017

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

1. High street banking figures due from new trade association

The monthly report showing the trends in deposits and finance for UK households and businesses in June 2017 will be released by UK Finance on 26 July. The British Bankers' Association (BBA) was formerly responsible for the statistics.

Considering the figures for May, BBA Managing Director for Retail Banking Eric Leenders commented: "Businesses appear to be weighing up their options before raising finance to fund projects or developments.  After a long period of subdued company borrowing, overall growth is starting to stabilise at a modest rate."

UK Finance launched earlier this month, representing around 300 UK finance, banking, markets and payments-related service providers.

[UK Finance]

2. ONS to release preliminary GDP figures for 2017 Q2

The next estimate of the UK's gross domestic product (GDP) is due for publication on Wednesday 26 July.

Changes to the country's GDP are used as the main indicator of how economic growth is progressing. In the first quarter of 2017, UK GDP was estimated to have increased by 0.2%, growth slowed since December of last year.

Preliminary estimates are based on the output approach measures of gross value added (GVA), analysed at a detailed industry level.

[ONS]

3. US and UK representatives set to talk trade in Washington DC 

International Trade Secretary Liam Fox is due to meet US Trade Representative Robert Lighthizer and Commerce Secretary Wilbur Ross in Washington DC this week.

Mr Fox will be in the American capital from 24 to 25 July for discussions surrounding proposed 'continuity agreements' for trade between the two countries. He will also be speaking at the American Enterprise Institute on Monday morning.

A US trade official stated: “The early discussions will focus on laying the groundwork for commercial continuity for U.S. and U.K. businesses as the U.K. leaves the EU and exploring possible ways to strengthen trade and commercial ties, consistent with the EU’s common commercial policy.”

[Politico]

4. UK Foreign Secretary to visit Australia and New Zealand

Boris Johnson will fly to New Zealand on 23 July for a three-day visit. He will be received by Prime Minister Bill English and participate in a memorial ceremony at Pukeahu National Park in Wellington.

NZ Foreign Minister Gerry Brownlee said: "We welcome Secretary Johnson's visit as an opportunity to strengthen our close relationship at a time when the United Kingdom is seeking to reshape its relationships around the world following its decision to leave the European Union."

Mr Johnson will also visit Australia this week to attend the Australia-United Kingdom Ministerial meeting (AUKMIN) in Sydney.

[NZ Herald]

5. Results due from Domino's Pizza, Lloyds Banking Group, GlaxoSmithKline, Just Eat

  • Monday: Interims due from Ascential, Dialight, Reckitt Benckiser Group and Science Group. Finals due from Tungsten Corporation.
  • Tuesday: Interims due from Croda International, Domino's Pizza Group, Informa, Provident Financial, Proteome Sciences, Rathbone Brothers, Science Group, Segro, Spectris and Tyman. Finals due from Games Workshop Group and PZ Cussons.
  • Wednesday: Interims due from Berendsen, Centaur Media, GKN PLC, GlaxoSmithKline, Hammerson, Huntsworth, International Personal Finance, ITV PLC, Jupiter Fund Management, Staffline Group, Tullow Oil and Unite Group. Finals due from Joules Group.
  • Thursday: Interims due from Anglo American, AstraZeneca, British American Tobacco, Bodycote, Countrywide, Inchcape, Indivior, Intu Properties, Just Eat, Jardine Lloyd Thompson Group, Lloyds Banking Group, Lancashire Holdings, National Express Group, Primary Health Properties, Royal Dutch Shell, RELX, Rentokil Initial, Schroders, Smith & Nephew, St James's Place, Telefonica SA, Greencoat UK Wind, Vesuvius and Weir Group. Finals due from Angle, Diageo, Renishaw, Sky Plc and Torotrak.
  • Friday: Interims due from Aberforth Smaller Companies Trust, Barclays, BT Group, International Consolidated Airlines Group, IMI PLC, Morgan Advanced Materials, Rightmove, UBM Plc and UK Commercial Property Trust. Finals due from Clipper Logistics.

[This is Money]

Topics

  • Business

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