Five things CAs need to know this week: 31 July 2017
A look ahead to some of the things happening in business, accountancy and politics this week.
1. ICAS London Summer Social
The ICAS London Summer Social is one of the most popular and eagerly anticipated events in our busy social calendar. Organised by the ICAS Student Committee, this event is perfect for CA students and newly qualified ICAS members to meet and connect with like-minded CAs in your local area.
To help you have the right conversations with the right people, we’ve invited along a number of emerging CA leaders who are working in key areas of interest. These include representatives from financial services, banking, innovation, sustainability, entrepreneurship and technology. They’ll be on hand to share their experiences over a drink or two at this informal networking event.
This event is extremely popular and has a limited number of places available. This year our venue is the beautiful outdoor decked terrace at Browns Bar on Butlers Wharf.
2. The Bank of England strike
Staff at the Bank of England (BoE) will begin a four-day strike today (Monday), the first in 50 years.
Unite union, which announced the strike earlier this month after a ballot which saw 95% of members voting in favour of the strike, said that the industrial action is in response to a dispute over pay.
Unite regional officer Mercedes Sanchez said: “Staff at the Bank of England has made their anger clear by voting for strike action in July. 95 per cent of the staff in maintenance, parlours and security have backed industrial action due to their employer’s outright refusal to negotiate a fair pay deal for its workforce.
“The Bank of England now faces its first strike action in over 50 years when staff in vital services across the country will be taking action because of the bank’s total refusal to accept that its workforce is struggling to meet their costs of living.”
3. Policy announcement from the Bank of England
BoE is due to announce its rate decision on Thursday along with the release of its Quarterly Inflation Report.
It is expected that rates will remain at their current record low levels.
A recent surge in levels of inflation has seen some BoE policymakers call for higher interest rates, but continued uncertainty surrounding the effect Brexit will have on the economy has prevented the bank from taking this course of action.
4. Rio Tinto set to post healthy returns
Shareholders in Rio Tinto are set to see a healthy return as the mining company is expected to announce a promising interim return.
Due to rising commodity prices, the company could potentially increase shareholders returns by around £1.9bn.
A Credit Suisse analyst was quoted in The Telegraph saying: “We see Rio substantially increasing its capital returns by $2.5bn this half followed by $5bn in 2018.”
Increased demand in China for iron ore and aluminium has also helped boost the windfall.
5. Results due from BP, Direct Line, BAE and RBS
- Monday: Interims due from Arix Bioscience, Coats, Fidessa, Keller and Senior.
- Tuesday: Interims due from BP, Direct Line Insurance, Forterra, Gocompare.com, Greggs, Rolls-Royce and Taylor Wimpey.
- Wednesday: Interims due from Aggreko, BAE Systems, Johnston Press, Rio Tinto, RSA Insurance, Smurfit Kappa, Standard Chartered, Travis Perkins and William Hill.
- Thursday: Interims due from Avacta, Dairy Farm International Holdings, esure, Hong Kong Land Holdings, Ladbrokes Coral, Non-standard Finance and Serco.
- Friday: Interims due from FBD Holdings, Jardine Strategic Holdings, Merlin Entertainments, Pearson and Royal Bank of Scotland.