Five things CAs need to know this week 26 September 2016
A look ahead to some of the things happening in business, accountancy and politics this week.
1. CAs to gather for ICAS conference
This year’s annual ICAS Conference will get underway on Thursday (29 September) at the EICC in Edinburgh. The conference will feature a panel of top speakers from the business and political sphere, including Jo Malone MBE, Sir David Tweedie, Nick Leeson, Professor Norman Murray CA, David Nussbaum CA, and many more.
Anton Colella, ICAS Chief Executive, said: “We want to build one of the most inspiring and motivating business conferences in the UK and we want to make it an occasion where the ICAS family can meet and make new, valuable connections across all ages of our membership.”
ICAS is delighted to welcome Investec Wealth & Investment as our first ever principal partner for The ICAS Conference.
2. Markets poised for UK’s largest ever corporate merger
SABMiller investors are due to vote on a £79bn takeover deal with Anheuser-Busch InBev (AB InBev) this week – which will be the UK’s largest ever corporate merger if it goes ahead.
The deadline for proxy votes is tomorrow (27 September), but shareholders can vote in person on Wednesday.
City AM reports that SABMiller’s board unanimously urged shareholders to vote in favour of the ‘topped up’ deal, while The Telegraph says that opposition to the takeover bid has grown.
SAB, which is the world’s second largest brewer, must get the approval of 75% of stock voted for the deal to go ahead.
3. Trump and Clinton to face off in first presidential debate
Hillary Clinton and Donald Trump will meet tonight (26 September) in the first of three presidential debates.
The latest polling suggests that Trump and Clinton are in a “virtual dead heat” in the race for the White House, according to a poll by ABC News and Washington Post. 44% of those polled expect Clinton to win the first debate.
Meanwhile, Citigroup has raised the probability of a victory by Trump, with the bank giving him a 40% chance of winning the presidential election, compared to a 35% chance of a Clinton victory.
The bank said: “Polls have started to tighten ahead of the U.S. presidential election, and Citi has raised the probability of a Trump victory. We expect a Trump win would bring out higher volatility in gold and forex, which in turn should lead to higher volumes in other precious metals.”
4. Labour conference continues
Labour’s annual party conference in Liverpool runs until Wednesday (28 September). Earlier this morning, John McDonnell ruled out an early shadow cabinet reshuffle following Jeremy Corbyn's victory, and said he did not expect one to take place until after the national executive away day on 22 November.
Foreign affairs, defence and the economy are on the agenda for today, while tomorrow, Tom Watson, the party’s deputy leader, will make his set-piece speech, followed by London Mayor Sadiq Khan, who will address the conference for the first time since his election.
Jeremy Corbyn will give his leader’s speech to close the conference on Wednesday afternoon.
5. Results from Wolseley Group, Highland Gold Mining, Harvey Nash
- Monday: Interims from Highland Gold Mining Ltd and Mayair Group plc. Finals from Gemfields plc.
- Tuesday: Interims from Netscientific plc, Toumaz holdings plc and XL Media. Finals from Netcall plc and Wolseley plc.
- Wednesday: Interims from Public Power Corp, Mysale Group, RedT Energy and Volga gas. Finals from Clinigen Group.
- Thursday: Interims from Harvey Nash Group. Finals from Vernalis plc.
- Friday: Interims from Dolphin Capital Investors, Loopup Group, Origo Partners. Finals from Premaitha Health plc.