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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Mike Ashley appointed Sports Direct CEO as Dave Forsey quits with immediate effect

September 23, 2016

Mike Ashley has taken over as chief executive of Sports Direct after Dave Forsey quit his role at the top of the scandal-hit company yesterday. Shares in the company were up 4.5 per cent mid-morning. Ashley will take over the role with immediate effect, with Forsey set to sever all ties with the company after a short [...]
City finance jobs tumble after Brexit vote

September 23, 2016

Job openings in the City dried up over the summer as finance firms put hiring on hold while they assess the damage of the UK's vote to leave the EU, according to new research. The number of advertised vacancies in financial services dropped by 13.6 per cent in the capital in July and August, according [...]
China told to combat debt problem or face banking crisis

September 22, 2016

Ratings agency Fitch has added its voice to mounting concerns about financial instability in the Chinese economy. Hot off the back of a Bank for International Settlements (BIS) report which suggested the banking system was crippling under the most excessive credit burden faced by any country in the world, Fitch has told the Chinese authorities [...]
Mario Draghi tells banks to stop complaining about negative interest rates

September 22, 2016

Mario Draghi has issued a robust defence of his negative interest policy in a conference designed to address threats to financial stability across the Eurozone. The era of ultra-low interest rates has been cited as one reason for the woes of banking sectors across the world, since lower rates squeeze the profits of financial institutions [...]
Kristin Forbes argues against Bank of England interest rate cut

September 22, 2016

Bank of England rate-setter Kristin Forbes has said the reassuring performance of the UK economy means she sees no need to cut interest rates later this year. Forbes, a member of the Bank's monetary policy committee (MPC), told an audience at Imperial College in London she disagrees with the majority of her MPC colleagues that believe [...]
Bank of England cites huge financial stability risks from Brexit vote

September 22, 2016

The Bank of England has issued a sobering analysis of the state of the UK's financial system in the wake of the EU referendum. Threadneedle Street's Financial Policy Committee (FPC), which is designed to look after the health of the UK's money markets and protect the financial system from bringing down the UK, cited a string [...]
Lloyd’s of London could announce Brexit restructure plans before Christmas

September 22, 2016

Specialist insurance market Lloyd's of London is close to announcing whether it is considering relocating part of its operations if the UK loses vital passporting rights as a result of the Brexit vote. Chairman John Nelson told City A.M. he was "hopeful" the UK could strike a deal with the rest of the EU to preserve the [...]
Brexit fears overshadow latest Lloyd’s of London results

September 22, 2016

Insurance behemoth Lloyd's of London has issued another stark warning over the fallout from the UK's vote to leave the EU as its underwriting profits slipped in the first six months of the year. Update: Lloyd's of London's chairman has told City A.M. it will announce whether it will relocate following the Brexit vote The [...]
UK car production hits 14-year high in August

September 22, 2016

UK carmakers had their best summer for more than a decade, with production climbing on the back of strong demand for new vehicles both at home and overseas. Trade body the Society of Motors Manufacturers and Traders (SMMT) said 109,000 cars were completed in August, nine per cent higher than in 2015 and the highest figure [...]
Majestic Wine issues profit warning after botched US marketing campaign

September 21, 2016

Shares in Majestic Wine closed down by more than almost a quarter today after the booze merchant issued a profit warning, citing challenging trading conditions and a failed marketing drive in the US. The firm was expected to post £440m of revenues in the year to March 2017, up 10 per cent on its sales in the most recent [...]

Gucci sparks backlash with AI-generated ads ahead of fashion week

Manchester United: Ratcliffe’s cuts take club from red to black

London is the best food city in the world – here are 3 reasons why

By: Jake Cordell

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