Pound ends longest losing streak since 2008 September 7, 2015 Sterling has risen for the first time in 10 days, ending what's been its longest losing streak in seven years. Global financial market turmoil and fears about the strength of the UK economy sparked a sell-off which saw sterling shed nearly four per cent of its value in just two weeks. Read more: Carney says China [...]
European stocks show resilience to China market fall September 7, 2015 European markets went up today, showing resilience to yet another decline on China's key index. The FTSE 100 closed 0.5 per cent higher at £60.75, while the Germany's Dax and France's Cac 40 rose 0.7 per cent and 0.6 per cent, respectively. Read more: China's stock market turmoil could spell bad news for London [...]
German industrial production rises 0.7 per cent in July, underperforming expectations September 7, 2015 Germany’s industrial production rose 0.7 per cent month-on-month in July, a slower rate than expected, according to data from Deutsche Bundesbank. Economists had expected a rise of 1.1 per cent, according to economists surveyed by Bloomberg. Read more: Non-EU markets boost German export surplus as euro weakens However, in an optimistic signal, industrial production was [...]
North Sea oil industry has lost 5,500 jobs since late 2014, says regulator September 7, 2015 The North Sea oil and gas industry has cut 5,500 jobs since late last year, according to the Oil and Gas Authority (OGA), the UK's oil and gas regulator. In a report published this morning, the OGA said plummeting oil prices had created an even more challenging economic environment for the North Sea's oil and [...]
City A.M.’s 10th Anniversary: Celebrating 10 years of events that shaped a decade September 6, 2015 A crunch, a crash, a coalition… When City A.M. hit the streets in 2005 no one could have predicted what was in store for the Square Mile and the broader UK – and global – economy. Here we revisit a selection of the moments that defined the last 10 years, and remember how they were [...]
Small firms less upbeat as skills gap gets wider September 6, 2015 The supply of skilled workers available for London firms to hire is plunging at its fastest rate for 18 years. The skills shortage adds to the headache of small businesses, which have had a worrisome summer after the introduction of a national living wage and higher dividend taxes. The Recruitment and Employment Confederation’s (REC) barometer [...]
UK housing supply shortage makes Britain a hotspot for residential property investors September 6, 2015 Britain’s housing shortage combined with the country’s strong economic growth has made it the fourth best place in the world if you are looking to park cash in residential property. The UK housing market, which has seen prices climb by 20 per cent over the past five years, was ranked behind only the US, [...]
The City of London’s decade of growth – upwards September 6, 2015 An army of tall buildings that have transformed London’s skyline over the past decade – from the Heron Tower, completed in 2011, to the Shard, which opened in 2012 near the former site of City A.M.’s very first offices, New Bridge House. And there are many more to come in the next few years, [...]
Washout August bank holiday weather leads to record online spending September 6, 2015 Online spending growth hit a four-year high in August as the wet summer weather drove more people to shop from the comfort of their homes. Figures released today based on credit and debit card transactions from Visa Europe show online retailers enjoyed a 10.7 per cent jump in the spending year-on-year in August, the [...]
IMF chief Christine Lagarde says Ukraine is showing “signs of turning the corner” September 6, 2015 International Monetary Fund (IMF) boss Christine Lagarde has said that Ukraine's economic reforms are starting to yield results, and the country is on the cusp of "turning the corner". Lagarde stressed she was "extremely encouraged" by the recent progress towards stabilising Ukraine's economy, even against a backdrop of difficult circumstances. The heavily indebted country has suffered amid [...]