Five things CAs need to know this week 31 October 2016

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By Andrew Harbison, CA Today

31 October 2016

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

1. Possible announcement from Mark Carney

The Bank of England (BoE) will release figures on inflation, but the figures may take a back seat to a possible second announcement.

Mark Carney may use Thursday's press conference to announce his early retirement as governor of the bank. The Guardian reported that the governor is considering making an announcement at the media gathering, but so far there are no official details on what the announcement is.

Carney said last week that he would be considering his continued position at the bank and would make a decision by the end of the year.

The role of governor of the BoE is usually held by an individual over an eight year term. However, there are terms which would allow Carney to vacate the position after five years.

[The Guardian]

2. Bank of England to release Q3 inflation report

Regardless of any announcement by its governor, the BoE will release its inflation report on Thursday. The figures are expected to show that UK economic growth is in a more stable position than it was in August.

This is a partly a result of the pick-up of purchasing managers’ indices and partly because of a higher inflation forecast due to a weak pound.

The BoE is unlikely to raise interest rates, as the rise in inflation may only be temporary.

[Investors Chronicle]

3. ICAS supports anti-money laundering week

To mark the beginning of anti-money laundering week, ICAS has launched a campaign to raise awareness of the crime and the warning signs of when it may be taking place.

As part of the campaign, ICAS will be releasing a series of feature articles and multimedia content for members to which aim to highlight different aspects of money laundering.

These will include a ‘red flags’ article to advise members of the tell-tale sign of the crime taking place, webinars on the subject and featured interviews.

[ICAS]

4. Manufacturing, construction and services PMI figures released

This week will see a flurry of PMI figures released. It is expected that the figures will show that manufacturing output is growing at its fastest rate since 2014.

This positive growth movement may not be indicative of the rest of the UK economy. Managers in the services sector could report only moderate growth. 

The construction sector is expected to show some stronger activity, although spending is likely to be lower due to investment in long lasting UK assets slowing because of uncertainty following the Brexit vote.

[Investors Chronicle]

5. Results from BP, Royal Dutch Shell, Edgon Resources and Paddy Power Betfair

  • Monday: Interims due from Novolipestk Iron and Steel and Nord Gold
  • Tuesday: Interims due from BP, Royal Dutch Shell, Falanx Group and First Derivatives. Finals due from Edgon Resources.
  • Wednesday: Interims due from Indivior Livanova, Millennium & Copthorne Hotels and Smurfit Kappa Group.Trading statements due from Wetherspoons (JD), Just Eat and Next.
  • Thursday: Interims due from Indivior, Inmarsat, Lancashire Holdings and Tate & Lyle.Finals due from Matchtech Group.
  • Friday: Interims due from Paddy Power Betfair. Trading statements due from Informa, Kennedy Wilson Europe Real Estae and Tullett Prebon.

[This is Money]

Topics

  • Business

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