What CAs need to know this week: 2 May 2016
A look ahead to some of the things happening in business, accountancy and politics this week.
Voters head to the polls
Voters will cast their ballots in parliamentary elections in Scotland, Wales and Northern Ireland on Thursday (5 May).
In Scotland, polls have suggested that First Minister Nicola Sturgeon's SNP party will retain the majority of 129 seats. It will also be the first parliamentary election in Scotland in which 16 and 17 year olds can vote.
Narrow margins are predicted for the Welsh Assembly elections. Polls indicate that Welsh Labour is on course for a victory but both they and the Welsh Conservatives have suffered a dip in popularity of late.
The Northern Ireland Assembly is likely to be a two-horse race between the Democratic Unionist Party and Sinn Féin. Both parties have consistently topped opinion polls, with each holding around 25% of support among respondents.
London to elect a new Mayor
The 2016 London Mayoral Election will decide Boris Johnson's successor on Thursday.
Despite an eight year hold over the area by the Conservatives, poll data has named Labour's Sadiq Khan as the favourite. Recent polling has suggested that Tory candidate Zac Goldsmih has struggled to capture the same popularity as his successor.Voter turnout in certain areas is thought to likely be the deciding factor.
Council and authority elections are also being held in England on Thursday.
Eurogroup talks on Greek debt set for this week or next
Dutch finance minister Jeroen Dijsselbloem has stated that Eurozone finance ministers may meet this week to discuss the escalating debt crisis in Greece.
Greek Prime Minister Alexis Tsipras had requested an EU summit on the crisis last Tuesday, but was refused by Council President Donald Tusk.
The nation faces default if it fails to secure €3.5bn (£2.7bn) in loans by July.
Australia to cut rates on day of Budget announcement
Following the country's first period of quarterly deflation since the 2008 global financial crisis, the Reserve Bank of Australia is expected to lower interest rates this week.
The country's latest CPI figures have prompted the belief among economists that Australia's central bank should follow the example of its contemporaries and take action to combat falling prices and contracting economic growth.
The move would be well-timed to coincide with tomorrow's release of the 2016/17 Budget.
EC economic forecasts due
The European Commission will publish its spring economic forecasts tomorrow (3 May).
The quarterly reports are produced by the Directorate-General for Economic and Financial Affairs and cover the outlooks of EU member states and other world economic powers for a span of two years.
Tuesday's forecast may reveal whether Spain and other nations will be punished for failing to make debt and deficit targets.
The Big ICAS Midlands Reception will be on Thursday
The biggest Midlands event in the ICAS calendar will be at the prestigious Birmingham Council House this week.
ICAS President Ken McHattie CA, Chief Executive Anton Colella and members of the ICAS Council will be in attendance and the main speaker will be Steve Hollis, leading businessman and Chairman of Aston Villa Football Club. Members and students are entitled to free entry.
Results due from HSBC, Aberdeen Asset Management, Sainsbury's, BT Group
Here’s a list of some of the results due this week:
- Tuesday: Interims due from HSBC Holdings and Aberdeen Asset Management.
- Wednesday: Interims due from Direct Line Insurance Group, Imperial Brands and Royal Dutch Shell. Finals due from J Sainsbury and Venture Life Group.
- Thursday: Interims due from BT Group, The Sage Group and GW Pharmaceuticals.
- Friday: Interims due from Smurfit Kappa Group.