By: Jake Cordell

I'm City A.M.'s economics reporter, looking at the news, stories and data that move markets in the UK, Europe and around the globe. I also cover broader developments in the business and political worlds at home and abroad.

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Brexit vote sparks surge in overseas job searches

October 10, 2016

The number of Brits searching for a career abroad has jumped in the months after the EU referendum, according to an analysis of online job adverts. Recruiters Indeed found searches for jobs outside the UK had jumped 20 per cent since the 23 June vote, with Ireland, Australia and Canada the top prospective destinations. Analysts [...]
OECD finds UK growth will be stable but slow

October 10, 2016

The UK will grow at a stable but slower pace for the forseeable future as a result of uncertainty over its future relationship with the European Union, the Organisation for Economic Cooperation and Development (OECD) declared today. On an index which compiles economic indicators to assess how the world's top economies are performing compared to the recent [...]
Deutsche Bank drops after CEO fails to settle $14bn lawsuit

October 10, 2016

Shares in Deutsche Bank have slid this morning after the troubled German lender failed to strike a deal with the US Department of Justice to settle a $14bn (£11.3bn) fine. The bank dropped as much as three per cent in early morning trading, before recovering to stand down 0.9 per cent at €11.98 a share. The rest of [...]
Flash crash and extreme trading slams sterling

October 7, 2016

Sterling has been rocked by an extreme day of trading about a freak flash crash overnight rattled markets and sent investors running. After dropping at least six per cent against the dollar in a matter of minutes, the pressure failed to lift and sterling had its worst week of trading since the referendum. A fresh sell-off had the currency down [...]
Sports Direct to lose £15m in sterling flash crash

October 7, 2016

As if Mike Ashley didn't have enough troubles to deal with at the moment. Fresh from his Sports Direct warehouses being likened to a "Victorian warehouse" and a gaffe-ridden open-doors day at the retailer's Shirebrooke factory, the firm has been caught up in the fallout from sterling's flash crash. A trading update from the firm issued [...]
What does the flash crash mean for UK interest rates?

October 7, 2016

The flash crash in sterling has sent UK inflation expectations to a three-year high and caused bond yields to spike. Sterling sunk six per cent in a matter of minutes overnight before recovering some, but not all, of its losses. In fact, the pound is still down more than two per cent against the dollar [...]
Government announces final details of Lloyds share sale

October 7, 2016

Shares in Lloyds Banking Group have dropped two per cent after the government announced it will press ahead with plans to offload its remaining stake in the part-nationalised lender. Chancellor Philip Hammond announced the plans during a trip to Washington this morning as part of his bid to reassure American financial companies that the UK [...]
Where next for sterling after the flash crash?

October 7, 2016

The flash crash rocked currency markets overnight and has spooked investors this morning. Despite some interesting theories as to its cause, the general consensus is it was a freak event triggered by some hasty algorithmic trading in a relatively dried-up markets. Nevertheless, that hasn't calmed nerves. Before the crash sterling was hovering between $1.25 and [...]
The Bank of England is investigating the overnight drop in sterling

October 7, 2016

Mark Carney has asked the Bank for International Settlements (BIS) to investigate the cause of a sharp fall in the value of the pound in overnight trading in Asia. BIS, often dubbed the central banks for central banks, has global control for the currency markets, though with no hint of wrongdoing, it is unclear exactly how far [...]
Imports jump and inflation looms as sterling crashes

October 7, 2016

The UK's trade deficit widened in August as the value of imports jumped in the face of the weaker pound. In total, the UK bought £4.7bn more from abroad than it exported over the month, a near-doubling of the deficit from the £2.5bn recorded in July, figures out this morning from the Office for National [...]

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By: Jake Cordell

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