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 and Trump fears push supply chain risk index to three-year high

August 22, 2016

Geopolitical risks have spiked to their highest level for three years, threatening to cause widespread disruption for firms that ship goods and people around the world. A quarterly monitor of "supply chain risk", which charts the potential for economic and political threats to upset worldwide trade, has climbed off the back of the UK's vote [...]
Keep calm and carry on: City giants play down Brexit hit

August 22, 2016

The City's top financial services firms are keeping calm and carrying on in the face of the UK’s shock vote to leave the European Union, according to new research from accountancy giant EY published today. After tracking every public statement from 232 banks, insurers, asset managers, fintech firms and private equity houses since the vote, [...]
Janet Yellen to talk interest rates and Fed shake-up at Jackson Hole

August 21, 2016

The Federal Reserve's No. 2 ratesetter has signalled the US economy should prepare for a rate rise in the near future, as Janet Yellen gears up to make a key intervention at the annual central bankers' gathering at Jackson Hole, Wyoming. Stanley Fischer, vice chairman of the Fed said this afternoon he believed the US would [...]
Recession risks fade on upbeat post-referendum data

August 21, 2016

Economists believe the chances of the UK economy slipping into a post-referendum recession have slipped, following a steady stream of upbeat economic data. Figures out early last week, compiled before a raft of bumper employment and retail sales statistics had been released, showed the consensus estimate for the UK economy was a 1.6 per cent [...]
Britons overwhelmingly back giving EU migrants right to stay in UK

August 21, 2016

The public overwhelmingly supports granting EU migrants currently living in the UK permission to stay after the UK formally leaves the bloc, a new poll has found. In a survey for think tank British Future, pollsters ICM found 84 per cent of people backed giving the three million EU citizens in the UK the right to stay [...]
At the close: EasyJet brightens up drab day in the City

August 19, 2016

It's August. It's raining. It's Friday. It was never going to be easy for the traders still at their desks to get going. And it showed, with the FTSE 100 yawning to a 0.2 per cent loss for the day, clocking off at 6,858. That was down slightly on the week after the bluechip index [...]
RBS to introduce negative interest rates on corporate investment accounts

August 19, 2016

The Royal Bank of Scotland (RBS) is to start charging some of its top corporate clients to hold cash with the bank. RBS wrote to some of its largest investment banking customers this week to tell them it could no longer let them keep cash held as collateral in their accounts for free and will impose negative interest rates from [...]
Sterling slides as nervy traders cash in

August 19, 2016

The pound has tumbled against both the dollar and the euro this afternoon, dampening an otherwise strong week for the currency. After strong post-referendum inflation and retail sales figures had put some steam behind sterling on Wednesday and Thursday, traders started to reassess the dizzying heights of $1.31 and €1.16. Against the US dollar, the pound lost [...]
CMA proposals to hit bank profits in latest squeeze on sector

August 19, 2016

Banks should prepare for another squeeze on profits thanks to the latest recommendations to boost competition in the sector. Ratings agency Fitch said today proposals from the Competition and Markets Authority (CMA) to encourage customers to switch bank accounts would put even more pressure on bottom lines at the UK's top high street lenders. The central [...]
Top ONS economist: Brexit recession still possible

August 19, 2016

The top economist at the Office for National Statistics (ONS) has warned it is too early to rule out the prospect of a recession, despite a flurry of strong post-referendum indicators. Joe Grice, ONS chief economist told Bloomberg this morning there were still too many pieces of the puzzle to put together and would not like to [...]

OpenAI rewrites Pentagon AI deal following backlash

English cricket facing tragedy if ECB doesn’t change, warns county boss

Psst… This is how to ski Les 3 Vallées without the crowds

By: Jake Cordell

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