Five things CAs need to know this week: 6 February 2017
A look ahead to some of the things happening in business, accountancy and politics this week.
1. Brexit bill goes to committee stage
The Government’s bill outlining its plans for Britain to leave the European Union will pass through a committee stage next week in parliament.
This process will begin on Monday and last for three days. During this stage, MPs have the opportunity to debate specific issues they have with the bill without opposing the bill in its entirety.
The main issue is likely to be that of EU nationals currently living in the UK. Questions around their eligibility to remain in the country after Brexit and whether they would need to seek UK citizenship are likely to be raised.
2. UK economic growth figures to be released
Official figures on the UK’s GDP will be released this week and are expected to show that manufacturing and construction output grew in December.
Figures released by the NIESR is expected to show an estimation of GDP rising in January, with it sitting around 0.7% higher in the past three months than the three before that.
The growth is likely the result of a rise in net exports, with figures expected to show a decline in the trade gap in Q4.
3. British Airways cabin crew continue strike action
British Airways has sought to reassure customers that they will all reach their destinations throughout the week despite a fresh wave of walk-outs by airline staff.
The strike by lower-paid cabin crew, which began on Sunday, is planned to last six days in total.
The airline has increased sanctions on staff who take part in the walk-out including docking two years of bonuses and terminating staff travel discounts for the next year.
BA has said it expects that many of the 2,900 crew will report to work as usual.
During the last two walkouts by BA, employees airline said 68 flights had to be cancelled.
4. Donald Trump and Shinzo Abe to discuss trade
The Japanese Prime Minister will travel to Washington this week to meet with the US President.
The meeting is expected to focus on trade between the two countries.
Last week Abe told a parliamentary committee that he plans to discuss a wide range of economic ties with Trump.
Abe also said that he plans to discuss the prospect of job creation in the US, improving productivity and infrastructure.
After taking office, Trump pulled of an Asia-Pacific trade deal which was backed by Abe.
5. Results due from BP, GlaxoSmithKline and Dunelm Group
- Monday: Trading statement due from Randgold Resources.
- Tuesday: Interims due from BP. Finals due from RM and St Modwen Properties.
- Wednesday: Interims due from GlaxoSmithKline, Dunelm Group, UK Property Trust and Sophos Group. Finals due from Rio Tinto, Smurfit Kappa Group and Tullow Oil.
- Thursday: Interims due from Ashmore Group, Frontier Developments and Innovaderma. Finals due from Henderson Group and Smith & Nephew.