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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Recruiters say UK jobs have been in “freefall” since the Brexit vote

August 5, 2016

The number of people in permanent work fell by its sharpest amount since the recession in July, it was revealed this morning. Pay rises have also ground to a halt and even the rise of temporary workers stuttered in the first full month after the referendum, the latest report on jobs from Markit and the [...]
Mark Carney says UK banks have “no excuse” to stop lending after his new stimulus package

August 4, 2016

Announcing a new massive stimulus package and a cut to interest rates, Bank of England governor Mark Carney has told banks they have no excuse to stop lending to the real economy. As part of today's package a new £100bn scheme was announced which will see the Bank printing cash in order to finance cheap [...]
Carney fires his big bazooka with massive Bank of England stimulus programme

August 4, 2016

The Bank of England has unleashed a massive stimulus package today as it warned growth in the UK economy will grind to a halt over the next 18 months. In a dramatic move, the Bank’s monetary policy committee (MPC) voted unanimously to slash interest rates to 0.25 per cent while also unleashing a huge extension of [...]
Markets poised for crunch interest rate move from Bank of England

August 4, 2016

Markets are standing by this morning for the Bank of England to take interest rates to a record low later today – and the nerves are showing. Sterling is falling ahead of the announcement and the FTSE 100 has also eased back as traders assess just how much fuel the Bank of England will throw onto the [...]
Ladbrokes the real winner from Leicester City’s Premier League triumph

August 4, 2016

Euro 2016 and a less-than-predictable Premier League season boosted earnings at bookies Ladbrokes and sent shares climbing 3.8 per cent this morning, as it edges closer towards its £2bn tie-up with Gala Coral. The figures Profits before tax climbed by 61 per cent to £39.8m in the six months to June at Ladbrokes, with operating profits up 34 [...]
RSA share price ticks up with strong second quarter

August 4, 2016

Insurers RSA claim they are on course for another bumper year after posting a big jump in operating profits and hiking its dividend in the first six months of the year, sending the shares up 2.7 per cent at the open. The figures Pre-tax profits came in at £148m for the first half of the year. This [...]
Economists call for Bank of England cash handouts to prop up economy

August 4, 2016

A group of economists has called on the Bank of England and the government to sanction direct cash handouts – so-called helicopter money – to stimulate the economy in the wake of the EU referendum. In a letter to the Guardian ahead of the Bank of England's crunch meeting today, economists from a number of universities [...]
Over to you, Mark II: City A.M. Shadow MPC votes for interest rate cut

August 4, 2016

City economists have called on Mark Carney to pull the trigger and cut interest rates for the first time in seven and a half years today. City A.M.’s Shadow monetary policy committee (MPC) voted five to four in favour of slashing rates to a new all-time low of 0.25 per cent. Futures markets indicate a [...]
A rate cut could wipe £1.4bn off operating profits at the UK’s top banks

August 4, 2016

Profits will be decimated at the UK’s top banks if, as widely expected, the Bank of England cuts interest rates to a historic low of 0.25 per cent today. New analysis by the banking practice of consultants Simon-Kucher and Partners predicts that lower rates would wipe £1.4bn off the operating profits at the UK’s top [...]
Profits dive 46 per cent at Standard Chartered but share price jumps

August 3, 2016

Standard Chartered's share price has jumped even as it reported a 46 per cent fall in profits and said it was not yet ready to reinstate an interim dividend. The emerging markets focused bank reported pre-tax underlying profits of $994m (£745m) in the first six months of the year, down from $1.8bn in the comparable period of 2015, [...]

Italy World Cup flop kills five per cent of bets on tournament winner

PSG sign deal with Whoop as Qatar links grow

Friends of The Whisky Exchange launches to reward customers

By: Jake Cordell

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