Five things CAs need to know this week: 6 May 2019
A look ahead to some of the things happening in business, accountancy and politics this week.
1. ICAS Brexit tracker deadline closes
There is still time to take part in the ICAS Brexit Tracker survey, which this time will be focusing on the impact of continuing uncertainty on ICAS members and business generally.
Have you or your clients incurred costs as a result of preparing for Brexit – or specifically for a no-deal Brexit? The survey only takes a few minutes and your input is important, whether or not you have taken part in previous Trackers.
Please note this survey closes at 5pm on Tuesday 7 May.
2. Brexit deal could be agreed this week
Theresa May and Jeremy Corbyn may be on the cusp of agreeing on a Brexit deal this week.
According to reports, the leaders of the Conservatives and Labour will put forward a deal which would see the UK remain in a customs union with the EU following its exit.
The move come a week after both party's suffered heavy losses during local elections, with many party members citing the lack of a Brexit deal as being the main reason for the defeats.
3. Key economic data from the ONS and figures on trade to be released
Figures from the Office for National Statistics (ONS) due to be released on Friday may show that the UK economy grew by around 0.5% in Q1.
Figures on trade released on the same day are expected to show that the trade deficit hit a record high in Q1 of £40bn, which is 7% over GDP.
The stockpiling of imported good as a safeguard against a potential no-deal Brexit could be partly to blame for these figures.
A report from the Royal Institute of Chartered Surveyors (RICS) due this week is expected to paint a negative picture, as demand and house prices continue to fall.
4. Uber drivers plan mass strike
Drivers for the ride hailing app Uber will hold a strike on Wednesday ahead of the firm's $90bn float on the stock market.
Drivers in London, Birmingham, Nottingham and Glasgow who are members of the Independent Workers Union of Great Britain (IWGB), will log off of their app between the hours of 7am and 4pm in retaliation of an unsettled pay dispute.
The strike across the UK is part of a global day of action against the company, with drivers in Britain demanding a rise is pay per mile and a reduction in the commission take by Uber.
Uber maintains that all drivers who use the app are self employed.
5. Results due from HSBC Holdings, Samsung, Paddy Power Betfair and Royal Dutch Shell.
- Tuesday: Interims due from Zeal Network and Verona Pharma. Finals due from Faron Pharmaceuticals.
- Wednesday: Interim due from Jyske Bank, Thompson Reuters, Elegant Hotels and Imperial Brands. Finals due from JZ Capital Partners, Osirium and Smartspace Software.
- Thursday: Interims due from Lucara Diamond, Arrow Global, Bank Pekao and Valeura Energy. Finals due from Air Partner, BT and Water Intelligence.
- Friday: Interims due from International Consolidated Airline Group and Millennium & Copthorne Hotels.