Five things CAs need to know this week: 7 November 2016
A look ahead to some of the things happening in business, accountancy and politics this week.
1. World braced for US election result
After many months of campaigning, the wait is finally over and the US will decide its 45th President tomorrow (8 November ET and 9 November GMT). Around 41 million votes have already been cast in early voting.
Votes will close between 7pm and 8pm ET on Tuesday (midnight and 1am GMT). The earliest time the likely result can be predicted will be 11pm ET (4am GMT on 9 November).
While most pollsters are still predicting victory for Hillary Clinton, the predictions are varied.
- The New York Times says Clinton has an 84% chance of becoming the next President, while Trump has 16%.
- FiveThirtyEight is giving Clinton a 66.9% chance of winning, compared to Trump's 33%.
- The Huffington Post, which tracks 370 polls, is predicting a Clinton majority of 47.5% compared to 42.3% for Trump.
- The Washington Post-ABC News poll is giving Clinton a five-point lead over Trump (48% vs 43%).
- The BBC gives a closer picture, with Clinton predicted to get 45% of the vote, compared to 44% for Trump.
The new President will be inaugurated on 20 January 2017.
2. Government to make statement on High Court Brexit ruling
The Government is due to make a statement to the House of Commons today (7 November) on the High Court's ruling last week that Article 50 cannot be triggered without a vote from MPs.
Number 10 said last week that the judgement would not "derail" its timetable for triggering Article 50.
The statement said: "We are determined to continue with our plan, preparing for negotiations, and sticking to the timetable we set out."
Prime Minister Theresa May was intending to trigger Article 50 by the end of March 2017 and leave the European Union by spring 2019.
Ministers have already announced that they will be appealing against the decision in the Supreme Court, with a hearing expected to begin on 7 December.
3. Oil sector, manufacturing and GDP figures
There are a host of economic figures due this week. Today (7 November), Halifax will release its house price index, which could show that inflation has fallen.
The National Institute of Economic and Social Research will release its latest GDP estimate on Tuesday (8 November), which is expected to show a small rise.
On Wednesday (9 November), manufacturing production and industrial production figures are due. Analysts are expecting manufacturing output to have fallen by around 1% in the third quarter.
We will also get an insight into the health of the oil sector this week, with the release of the International Energy Agency’s monthly oil market report on Thursday (10 November) and OPEC’s report on Friday (11 November).
4. ICAS supports Trustees' Week
ICAS is encouraging CAs to support this year's Trustees' Week, which runs from 7 to 13 November.
Trustees’ Week is an annual event which celebrates trusteeship and gives trustees the opportunity to share their experiences and to take part in events and training courses taking place across the UK.
Christine Scott, Assistant Director, Charities and Pensions, said: "UK charities come in a variety of shapes and sizes but they have one thing in common – they are governed by volunteers – their charity trustees. Therefore, the success and reputation of the sector, and not just individual charities, very much depends on the leadership given by the UK’s million plus trustees."
For more information on what’s happening visit the Trustees’ Week website.
5. Results due from HSBC, M&S, Sophos, SSE, AstraZeneca
- Monday: Interims due from HSBC plc. Finals due from Oncimmune Holdings. Trading update from Hiscox Ltd and Dignity plc.
- Tuesday: Interims due from M&S, AVEVA group and Trifast plc. Finals due from Associated British Foods, Ceres Power Holdings, Imperial Brands, Punch Taverns. Trading update from BBA Aviation and Direct Line Insurance Group.
- Wednesday: Interims due from Burberry Group, Experian plc, FlyBe, Sainsburys, Sophos Group, SSE plc, Wizz Air Holdings and Workspace Group. Trading update from Tullow Oil and esure Group.
- Thursday: Interims due from Auto Trader Group, AstraZeneca, Dairy Crest, Halfords, 3i, National Grid plc, Vedanta Resources. Trading update from IMI plc, ITV plc, SuperGroup plc and UBM plc.
- Friday: Interims due from Castings plc, Grupo Clarin and TBC Bank Group.