What CAs need to know this week: 11 January 2016
A look ahead to some of the key things happening this week
Taking stock after a bumpy start
Markets have suffered a prolonged New Year hangover, with the first week of January marked by severe turbulence driven by weak economic data from China. All eyes will be on a comeback but the strength and duration of any immediate recovery are topics of some debate for market watchers.
New parliament powers outlined
Scottish Secretary David Mundell will announce details of the new decisions the Scottish Parliament will make as a result of the Scotland Bill, in a speech in Edinburgh today (Monday).
Bank of England interest rates update
The Bank of England’s Monetary Policy Committee will announce its latest decision on interest rates on Thursday. UK rates have been at 0.5% since March 2009 and the prospects for any change within the first half of the year appear to be receding.
More retailers’ festive results in store
It’s another bumper week for post-festive results from UK retailers, with supermarkets Tesco, Sainsbury’s and Morrisons reporting on Christmas trading. There will be updates from Debenhams; JD Sports, AO World, ASOS and Mothercare. Housebuilders Taylor Wimpey, Barratt Developments and Bovis Homes will also issue trading statements.
Big numbers from banks and airlines
Key international data this week will include results from banks JP Morgan Chase, Wells Fargo, BlackRock and Citigroup, while US manufacturer Alcoa and Intel Corp will also check in. Airlines AirFrance KLM and Lufthansa will report December traffic figures early in the week.
Egypt resumes parliamentary politics
Egypt’s first parliament since 2012 has convened and has just over two weeks to ratify hundreds of laws since the last parliament’s dissolution. The parliament is dominated by supporters of president Abdel-Fattah el-Sissi, who as military leader ousted president Mohammed Morsi in 2013 following protests against the Islamist leader and his Muslim Brotherhood. The last parliament was dominated by Islamists and dissolved by a court ruling in 2012.
Trade Union Bill debated by Lords
The House of Lords will debate the Trade Union Bill with vexed questions over political funding reforms. GMB union General Secretary Sir Paul Kenny said the Labour Party could lose £40m in every electoral cycle under the proposals. It is believed Lord Tyler, a former Lib Dem MP, will call for the political funding issue to be separately examined by a select committee.