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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Sterling stops the Brexit slide by hitting three-week high

August 23, 2016

The pound has climbed higher again today as the trickle of strong post-referendum data boosts the outlook for the beleaguered currency. Sterling briefly touched above $1.32 this morning, a three-week high, before falling back to stand at $1.3187, up 0.4 per cent on the day and nearly four cents clear of last week's low. The pound also [...]
Weak pound prompts overseas spending spree in UK

August 23, 2016

Tourists are hitting the UK's shops like never before as they cash in on a weak pound to snap up British goods at knock-down prices, new payment data has revealed. Card payment giant WorldPay said today spending from foreign cards at UK stores has jumped by 12.4 per cent since the referendum. The climb mirrors the 14 per cent [...]
Manufacturing exports jump on weaker pound

August 23, 2016

Manufacturing exports are running at their highest level in two years thanks to the pound's post-referendum slump, the CBI's latest Industrial Trends survey has revealed. The survey of manufacturers, published this morning, also showed the overall health of the sector was better than expected, but firms predicted the prices they pay for materials will rise over the next [...]
Male managers more likely to get promoted

August 23, 2016

Men are more likely to secure a promotion than their female colleagues, new research has found, in another piece of the gender pay gap puzzle. Analysis of 60,000 employees by the Chartered Management Institute (CMI) shows 14 per cent of men in top management roles scooped a promotion last year, compared to just 10 per cent of [...]
At the close: Pound picks up and FTSE 100 falls down

August 22, 2016

Sterling moved higher today as the shine came off the stock markets in afternoon trading. Today, 31 was the magic number for the pound. After flirting with setting a new 31-year low last week, the currency climbed back above what has become a crucial $1.31 barrier to stand at $1.3131 at pixel time against the greenback. The pound [...]
Ryan Lochte dunked as Speedo ditches sponsorship

August 22, 2016

Swimwear giant Speedo has cancelled its sponsorship agreement with disgraced US swimmer Ryan Lochte. The 32-year old, who won a gold medal in the men's 4x200m freestyle relay in Rio, was embroiled in scandal after he claimed to have been mugged at gunpoint while out celebrating with fellow swimmers from Team USA. The claims quickly unravelled [...]
Investment bank issues warning about “dangerous” trend of shorting the fear index

August 22, 2016

One of the world's top investment banks has warned that financial markets are entering "dangerous" territory as investors eye up increasingly exotic products in the search for returns. In a note to clients, entitled "dangerous yield chasing", the Bank of America Merrill Lynch (BoAML) today raised a "red flag" over the "worrisome trend" of investors selling [...]
Study shows low market volatility leads to banking crises

August 22, 2016

Beware the calm before the storm. A new report has found periods of low volatility in the financial markets increase the chance of a banking crisis. Researchers from the London School of Economics (LSE), the University of Chile and the US Federal Reserve studied more than 200 years of economic history across 60 countries, finding spells of more predictable [...]
I, Human: Spending on staff more important than robots to harness fourth industrial revolution

August 22, 2016

Manufacturers are putting skills ahead of software even as they race to implement new technology to improve productivity, a new survey has found. More than eight in ten manufacturing firms said they would be investing in skills to realise the potential of the so-called “fourth industrial revolution”, according to a survey by trade body the EEF. [...]
New poll claims the skills shortage is crippling the construction industry

August 22, 2016

The skills shortage in the construction sector is at “breaking point” according to a new survey of project managers and contractors. Six in ten senior decision-makers in the industry said they believed the quality of their work was suffering due to a lack of experienced staff, while one in ten said low supply of skilled [...]

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By: Jake Cordell

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