What CAs need to know this week: 14 March 2016
A look ahead to some of the things happening in business, accountancy and politics this week.
It's Budget Day on Wednesday
All eyes will be on Westminster on Wednesday when Chancellor George Osborne announces the 2016 Budget. Tougher measures to curb tax avoidance and evasion are expected to feature prominently, as the UK looks to cut the tax gap. ICAS will be providing live analysis and coverage of the Budget throughout the day. Follow @icasaccounting on Twitter to stay up-to-date.
Deutsche Boerse and LSE could make merger official
The London Stock Exchange (LSE) and Germany’s Deutsche Boerse will reportedly announce a finalised merger agreement this week, in an effort to deliver cost savings of more than 300 million Euros. It’s the third time that LSE and Deutsche Boerse have talked about a deal – the last attempt was in 2004-5.
Bank of England announces interest rate decision
The Bank of England will make its interest rate decision on Thursday (17 March). Like the US (see below), analysts are expecting the BoE to leave interest rates unchanged at 0.5%. While Governor Mark Carney has not ruled out cutting interest rates close to zero in the future, monetary policy committee member Martin Weale said last week that the BoE is still more likely to raise interest rates than cut them over the next two years.
Federal Reserve to give projections for the US economy
The US Federal Reserve’s Federal Open Market Committee (FOMC), which determines the direction of monetary policy, will also announce its interest rate decision on Wednesday (16 March) and give projections for the US economy. Economists surveyed by Bloomberg believe the central bank will leave rates unchanged.
Inflation and unemployment data due
Two releases of important economic information are due this week from the Office for National Statistics (ONS). On Tuesday (15 March), the ONS will publish the basket of goods and services which it uses for inflation data. Unemployment figures will follow on Wednesday (16 March).
Results due from Cairn Energy, Legal & General, Ted Baker, M&C Saatchi.
Here’s a list of some of the results due this week:
- Monday: Prelims due from Applegreen plc, NMC Health and Fevertree Drinks
- Tuesday: Prelims due from Cairn Energy, Antofagasta, The Gym Group, Legal & General, Balfour Beatty, Hunstworth, Hastings Group Holdings. Interims due from Sainsbury’s.
- Wednesday: Prelims due from Advanced Medical Solutions Group, Paysafe Group, SkyePharma. Interims due from Smiths Group, Finsbury Food Group.
- Thursday: Prelims due from Gulf Keystone Petroleum, Soco International, Ted Baker, Centaur Media, Enquest. Interims due from Kier Group.
- Friday: Prelims due from M&C Saatchi. Interims due from Volution.