Five things CAs need to know this week 3 October 2016
A look ahead to some of the things happening in business, accountancy and politics this week.
1. World Bank and IMF meeting
The World Bank and the International Monetary Fund (IMF) hold their annual meeting in Washington this week (7-9 October), and Brexit is expected to be in the spotlight.
IMF Managing Director Christine Lagarde will urge the Bank of England and the UK Treasure to continue economic stimulus measures, The Guardian reports.
The US and China are predicted to feature heavily in talks, in the backdrop of what Lagarde has described as the “new mediocre” of global economic growth.
In a speech last week, she said: “For the past several years, the global recovery has been weak and fragile…And while there are some good signs, the overall growth outlook still remains subdued.”
Ending global inequality will also be on the agenda. The World Bank said the number of people living in extreme poverty (those living on less than $1.90 USD a day) had fallen despite the “sluggishness” of the global economy, but called for faster growth and further anti-inequality measures.
The Bank wants to eliminate extreme poverty by 2030.
2. The Conservative party conference
The conservative party conference kicked off on Sunday with Theresa May confirming she intends to trigger Article 50 by March.
The conference will run until Wednesday with several key speeches set to take place.
The Chancellor will speak today (3 October) and is expected to give indications to what his spending and tax plans are ahead of the Autumn Statement in November.
3. European parliament to discuss Greece
The progress of the Greek economy will be discussed in the European Parliament on Tuesday ahead of the country’s creditors approving its next aid pay out.
Earlier this month Euro area finance ministers expressed their frustrations that Greece has yet to make significant progress with the various creditor imposed conditions.
Although the economy has improved slightly in Q2 thanks to a successful tourism sector and normalising of the country’s political situation, Greece is still struggling to ignite any significant growth.
4. Google to unveil new devices
In the wake of the new iPhone 7 release earlier this month, Google is expected to announce two new devices at its annual autumn event on Tuesday.
It is rumoured that the Pixel phone, images of which were reportedly leaked in October, will replace the tech company’s Nexus handset.
Other tech expected to be on display at the event is Google Home, a AI robot assistant to rival the Amazon Echo.
The Daydream VR headset may also feature as the popularity for virtual reality devices has grown with the release of similar headsets from Samsung and the Oculus Rift.
5. Results from Progility, James Halstead, Quantum Pharma
- Monday: Finals from James Halstead and Seeing Machines.
- Tuesday: Interims from Quantum Pharma. Finals from CAP-XX.
- Thursday: AGM/EGM of PUMA VCT VII and Taptica International.
- Friday: Finals from Progility.