Five things CAs need to know this week

CA Today Hangzhou
By Eleanor O'Neill, CA Today

29 August 2016

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

1. G20 leaders will convene in China

The G20 Summit in Hangzhou, China will commence on Sunday 4 September.

World leaders, including UK Prime Minister Theresa May, US President Barack Obama and President of the European Council, Donald Tusk, will be in attendance alongside their Finance Ministers and Central Bank Governors to discuss key issues in the global economy.

Concerns that political tensions between host country China and fellow G20 nation Japan may affect proceedings were voiced last week.

G20 Finance and Central Bank Deputies are due to meet for the fifth time on Wednesday, continuing discussions before the event.


2. European Commission to release business indicators

Tuesday will see the publication of both the Business and Consumer Survey and the Business Climate Indicator for the Euro area.

These surveys are used to forecast economic activity based on the opinions of economic actors, such as entrepreneurs and consumers.

A report on the Euro area rate of core CPI inflation will also be announced on Wednesday. This is expected to show a flat rate of 0.8%, rather than the European Central Bank's target of approximately 2%.


3. Chancellor to argue for remaining in the single market

Chancellor Phillip Hammond will lay out plans for Britain to remain in the European single market at a meeting of Cabinet ministers on Wednesday.

The proposal will reportedly feature a recommendation for access on a 'sector-by-sector' basis, with a particular focus on financial services.

Opposition is expected from pro-Brexit politicians due to the limited control over free movement that membership would entail.

[City AM]

4. Ruling due in Ireland/Apple tax case

The European Commission's three-year inquiry into Apple's tax agreements with Ireland is expected to come to an end this week.

Disagreement surrounds whether the deal Ireland struck with Apple amounts to 'state aid', an allegation both parties deny.

JP Morgan have estimated that, should the Commission rule against them, Apple may face a bill of up to $19bn.

[Business Insider]

5. Results from 888 Holdings, John Fisher & Sons, Alpha Bank, The Gym Group

  • Monday: Interims due from Novorossiysk Commercial Sea Port and JSC Rushydro Gdr.
  • Tuesday: Interims due from Alpha Bank, BATM Advanced Communications, Globaltrans Investment, Inspired Energy, Nord Gold and Petrofac.
  • Wednesday: Interims due from 888 Holdings, Arrow Global Group, Biome Technologies, Cathay International Holdings, Exova Group, James Fisher & Sons, Grafton Group and The Gym Group.
  • Thursday: Interim due from Stilo International. Finals due from Alumasc Group and Hays Plc.

[This is Money]


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