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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Yuan currency to rule them all: China seeks to boost renminbi

August 10, 2016

China has pledged to boost the role of the renminbi in the international economy as the country prepares to take new steps to develop the reputation and more widespread use of its currency. The People's Bank of China (PBOC) said today it was seeking to increase the use of the renminbi as a reserve currency for central [...]
Tough finance conditions ahead for UK firms

August 10, 2016

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Bank of England Agents’ survey finds six in 10 firms to cut investment plans due to EU vote

August 10, 2016

Investment and hiring will flat-line over the rest of the year as UK businesses come to terms with the result of the EU referendum, a Bank of England survey has revealed. The Bank's agents' summary of business conditions, comprised from interviews with 270 firms representing 1.2m employees "indicated the result of the EU referendum would have a [...]
Unfazed Bank of England to carry on with billion-pound bond purchases despite setback

August 10, 2016

The Bank of England is pushing ahead with its bond-buying programme as planned despite yesterday's stumble. Threadneedle Street was unable to find enough bond sellers on the open markets for its planned purchases yesterday, coming up £52m short of its target in a £1bn-plus operation. This morning the Bank confirmed it will continue with today's asset purchases, [...]
Brazilian Senate votes to open impeachment trial against President Dilma Rousseff

August 10, 2016

The Brazilian Senate has voted to open an impeachment trial against suspended President Dilma Rousseff. Rousseff was suspended in May over alleged accounting discrepancies. She is accused of breaking Brazil's budget laws by implementing government spending without approval from Congress. Her opponents state she used unauthorised loans from state banks to improve the economic picture [...]
Institute for Fiscal Studies: UK better off inside EU Single Market

August 10, 2016

Leaving the EU Single Market will cost the government an extra £8bn in lost tax receipts and result in financial services firms leaving London, the Institute for Fiscal Studies (IFS) has said. The revered number crunchers have argued today in a new paper that any Brexit deal which does not result in the UK remaining [...]
Soft Chinese inflation raise spectre of rate cuts

August 9, 2016

The prospect of more monetary stimulus in China edged closer today with a soft inflation reading from the world's second largest economy. Price rises, as measured on the consumer price index (CPI), slipped back from 1.9 to 1.8 per cent in July – significantly off the People's Bank of China's (PBOC) three per cent target. Factory [...]
UK economy contracted in July amid Brexit fallout

August 9, 2016

The UK economy contracted in July as the UK was left reeling from the fallout of the vote to leave the European Union, a leading economic think tank has estimated. The National Institute of Economic and Social Research (Niesr) said the UK shrunk by 0.2 per cent during the political turmoil of July. Niesr said the figures confirmed their [...]
Research shows people live longer during recessions

August 9, 2016

A new study has found that mortality rates drop and people live longer during periods of economic hardship. For every one percentage point increase in unemployment, research published today by IZA World of Labour found there is a 0.5 percentage point fall in the number of deaths in developed economies. According to Nick Drydakis, a reader in economics at [...]
EU confirms no fines for Spain and Portugal over budget deficits

August 9, 2016

Spain and Portugal will not be fined for breaking the EU's budget rules, it was confirmed today. European leaders have accepted the recommendation to let the countries off with a slap on the wrist, rather than impose a financial penalty which could have been equivalent to 0.2 per cent of GDP. Under the EU's stability and growth pact, members of [...]

Reeves warns oil price shock to fuel higher inflation for Brits

Formula 1 plans peace talks with raging drivers after Verstappen Mario Kart jibe

Aboard the Celebrity Cruises ship with Gwyneth Paltrow partnership

By: Jake Cordell

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