What CAs need to know this week: 26 October 2015
A look-ahead at some of the key things happening this week.
German minister’s crunch VW talks in Washington
German transport minister Alex Dobrindt will be in Washington this week to discuss the ongoing VW emissions crisis with US officials. VW has been under particular pressure in the US, where the controversy broke, and the company says 11 millon cars are affected globally.
CEO hails moves towards gender balance
Leading City figure Helena Morrissey CBE will deliver the annual Aileen Beattie Memorial Lecture today (Monday). Helena, the CEO of Newton Investment Management, will be speaking about the ‘end of patriarchy’ and moves towards greater gender balance in business at the event in Somerset House London.
Peers and government on course for clash
Peers will today (Monday) debate Chancellor George Osborne’s plans for changes to the tax credits system amid continuing controversy over the move. Opposition peers have tabled motions which could delay or block the cuts, with Mr Osborne and Prime Minister David Cameron warning that any such move could prompt a sharp response from government. Lord Butler, a former head of the civil service, has warned of a potential constitutional crisis.
Banking results in the spotlight
This week offers a spot check on progress of some of the UK’s high street banks, with Barclays, Lloyds and Royal Bank of Scotland all publishing third quarter results. Trading updates are also due from energy giants BP and Royal Dutch Shell. Retail giant Next, British American Tobacco and BT are among others posting figures this week. Analysts say the Nasdaq 100 may hit a record high this week, buoyed by technology stocks and Apple shares in particular.
Greek recap law progressing
A law setting out the ground rules for the recapitalisation of Greece’s banks is expected to be passed in the parliament this week as the government continues to implement measures supporting economic recovery. European Central Bank President Mario Draghi last week said the move would be an important step in restoring confidence in the economy.
Net neutrality vote by Euro MPs
Members of the European Parliament are due to vote on rules intended to protect net neutrality in the EU. Net neutrality is the principle that government and internet service providers should treat all data and services on the internet equally.
Syrian peace talks on horizon
Preparations are under way for international talks aimed at ending the conflict in Syria, with Friday earmarked as the possible starting date. The talks will involve the US, Russia, European and Middle Eastern countries, with pressure from Europe for Iran to be included, given its support for President Assad. US Secretary John Kerry has called for an “international…and consistent approach” to establishing peace.