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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Andrew Tyrie blasts banks as they come clean on overdraft fees

September 6, 2016

Influential Tory backbencher Andrew Tyrie has blasted UK banks for their bewildering array of overdraft fees and charges and called for customers to be given more information about their accounts. Tyrie, who chairs the Treasury Select Committee (TSC), also criticised recent proposals from the Competition and Markets Authority (CMA) to encourage customers to switch bank accounts. [...]
Pound storms to two-month high against dollar after shock fall in key US indicator

September 6, 2016

The pound has surged to a new two-month high against the dollar after a crucial indicator of activity in the US economy crashed, raising yet more question marks over the timing of the next interest rate rise. The closely-watched Institute for Supply Management (ISM) non-manufacturing purchasing managers' index (PMI) dropped from 55.5 in July to 51.4 [...]
UN high commissioner compares Donald Trump and Nigel Farage to Isis

September 5, 2016

A top United Nations official has compared Nigel Farage and Donald Trump to terrorist outfit Isis. In a stinging attack on "populists demagogues and political fantasists", Zeid Ra'ad Al Hussein, the UN's high commissioner for human rights has deplored the likes of Farage, Trump and Marine Le Pen for spreading "half-truths, manipulations and peddling fear". Read more: Nigel [...]
US Presidential Election 2016: Donald Trump blasts US Federal Reserve for creating a “false economy”

September 5, 2016

Donald Trump has hit out at the US Federal Reserve, saying the era of record low interest rates since the financial crisis has created a "false economy". On the campaign trail in the key swing state of Ohio, the Republican presidential nominee waded, once again, into the thorny issue of monetary policy, stating the Fed would [...]
The two Morgans now believe the UK will avoid a Brexit recession

September 5, 2016

The UK was given another shot in the arm today, as two leading investment banks hiked their forecasts for economic growth. After suffering its sharpest fall since the financial crisis in the wake of the referendum, the services purchasing managers’ index (PMI) soared from 47.4 to 52.9 in August, smashing expectations on the index where [...]
Sainsbury’s to install 20 Argos outlets in time for Christmas

September 5, 2016

Sainsbury's is set to install another 20 Argos outlets inside its supermarkets in the latest move to integrate the two stores following Sainsbury's acquisition of Argos-owner Home Retail Group (HRG). The supermarket giant completed the £1.4bn takeover of HRG, which also owned Homebase until earlier this year, at the end of last week, after being given the green light [...]
Ratings agency Standard and Poor’s to judge firms on climate change credentials

September 5, 2016

Ratings agency Standard and Poor's (S&P) is gearing up to launch a new set of financial tools to allow investors to monitor the impact of their green investments and check how environmentally friendly big firms are. S&P has today unveiled plans for a "green bond evaluation tool … to analyse and estimate the environmental impact of [...]
Extension of quantitative easing “close call” for ECB

September 5, 2016

The European Central Bank (ECB) faces a tough decision this week as it decides whether to unleash a new bout of monetary stimulus to support the Eurozone. ECB ratesetters will gather in Frankfurt on Thursday, with markets divided as to when president Mario Draghi will announce a hotly-anticipated extension to the Bank's €80bn (£67bn) a month [...]
Bank of Japan paves the way for more monetary stimulus

September 5, 2016

Bank of Japan (BoJ) chief Haruhiko Kuroda has insisted he has plenty of ammunition left to fire up the Japanese economy in a robust defence of the Bank's twin policies of negative interest rates and quantitative easing. In a defiant speech early this morning, Kuroda said the BoJ had "ample room for more monetary policy easing", insisted "new ideas should [...]
CBI beefs up London leadership team in preparation for Brexit negotiations

September 5, 2016

Business group the CBI has refreshed its London leadership team as the organisation prepares for a turbulent few years representing the capital’s firms in the wake of the Brexit vote. Vivian Hunt, managing partner for top consulting firm McKinsey’s UK and Ireland offices will become chair of the CBI London council, while CBI insider and [...]

Greens win Gorton and Denton by-election in humiliating defeat for Keir Starmer

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By: Jake Cordell

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