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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Carney defends attacks on recession warning and Brexit bazooka

September 7, 2016

Mark Carney has issued a robust defence over the Bank of England's conduct in the run-up to the EU referendum and its decision to unleash a massive post-vote stimulus package. Addressing MPs who criticised the governor for "over-egging" the possibility of a vote to leave the EU plunging the UK into turmoil, Carney said: "I [...]
US economy struggles to impress over the summer

September 7, 2016

Growth in the US remained sluggish over the summer, according to the latest economic indicator out of the world's biggest economy this afternoon. The Markit purchasing managers' index (PMI), which tracks activity across the economy, came in at an uninspiring 51.5 in August, bang in line with expectations but down from 51.8 in July. The news settled [...]
GDP estimates show UK economy still growing after Brexit vote

September 7, 2016

The UK economy is still on track to avoid a contraction in the crucial third quarter of the year, analysts at the National Institute of Economic and Social Research (Niesr) have argued. The think tank's closely watched GDP estimates suggest the UK grew by 0.3 per cent in the three months to August. This marks a slowdown [...]
Sir Charlie Bean: London will lose its foreign exchange crown after Brexit

September 7, 2016

The City of London will be stripped of its status as the world's premier foreign exchange centre once the UK leaves the EU, a former Bank of England deputy governor has warned. Sir Charlie Bean, who sat on the Bank's rate-setting Monetary Policy Committee (MPC) for 14 years between 2000 and 2014, told peers he [...]
Australian trade minister hits the brakes on quick-fire trade deal

September 7, 2016

Just hours after announcing the UK and Australia have opened talks on a free trade deal, the Australian trade minister has dismissed the idea of a deal being signed straight after the UK leaves the EU. Steven Ciobo, counterpart to UK trade secretary Liam Fox, told the BBC Today programme this morning: "The UK is [...]
Think tank hits back at businesses trying to neuter Osborne’s living wage

September 7, 2016

A leading think tank has urged Theresa May to ignore the complaints of businesses and push ahead with raising the national living wage (NLW) over the coming years. The Resolution Foundation has today called on the prime minister to “stick to her guns”, warning watering down the policy could result in low-paid workers losing out [...]
That massive UK current account? Don’t worry about it, yet

September 6, 2016

The UK has been told its record-high current account deficit may not be cause for concern, despite the result of the EU referendum raising fears over a potential balance of payments crisis. Ratings agency Fitch has said it is too early to begin fretting about whether the UK economy will come under pressure from a [...]
UK and Australia to start planning free trade deal

September 6, 2016

The UK and Australia will start to lay the groundwork for a sweeping free trade deal ahead of the UK's formal exit from the EU. At an event in London this evening, trade secretary Liam Fox and his Australian counterpart Steven Ciobo announced the creation of a "bilateral trade working group" to shape out the details [...]
Multinationals could be forced to declare country-by-country revenues and taxes thanks to an amendment tabled in parliament by a Labour MP

September 6, 2016

New UK legislation could force multinational corporations to reveal the taxes they have paid in every country in which they operate, after MPs voted in favour of landmark new tax proposals this evening. The new rules would introduce a country-by-country reporting system, allowing tax information published by HM Revenue and Customs (HMRC) to include details on where a company's revenues [...]
Aiming high: Junior market hits £80bn milestone

September 6, 2016

The Alternative Investment Market (Aim) soared over the summer, taking its combined market cap to £80bn at the end of August. The UK's junior market, which is designed to attract smaller companies to go public, climbed by 3.4 per cent in August. Combined with a sprinkling of new listings, the rise helped the index pass [...]

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By: Jake Cordell

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