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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Have we seen the end of volatility in the currency markets?

July 27, 2016

In the hours after the referendum, sterling suffered its largest ever decline in the era of free-floating currencies. The pound fell from $1.50 just after the polls slammed shut to $1.33 as the count showed the Brexit camp were out in front. Sharp spikes up and down in the value of sterling characterised the referendum campaign. By [...]
No sign of Brexit blues as FTSE 100 hits 12-month high and FTSE 250 back in the black

July 27, 2016

Stock markets have soared again today off the back of strong economic data out this morning, reaching new post-referendum highs. The FTSE 100 has climbed to a 12-month high today after data from the Office for National Statistics (ONS) showed the UK economy expanded by 0.6 per cent in the second quarter of the year, ahead [...]
EU Commission refuses to call for fines against Spain and Portugal over budget breaches

July 27, 2016

The European Commission will not fine Spain and Portugal for breaking the EU's budget rules, despite calls for the EU to take a hard line against the two countries. Spain and Portugal both ran budget deficits which exceeded Eurozone guidelines which prohibit states in the single currency area from running shortfalls of more than three per cent of [...]
EU development funds frozen for at least 600 startups after Brexit vote

July 26, 2016

Hundreds of London startups could lose out on investment because the government has put the distribution of EU funds on hold in the aftermath of the referendum. A scheme, named CASTS, designed to provide advice and support for 600 startups in the capital was due to receive £3.7m from the European Regional Development Fund (ERDF) this month, [...]
US economy unaffected by Brexit vote, but attention turns to presidential election

July 26, 2016

Fresh economic data from the US has shown the world's largest economy is feeling little fallout from the UK's vote to leave the EU. Both consumer confidence and business activity in the dominant services sector were "virtually unchanged" between June and July, figures out this afternoon revealed, although caution remained the prevailing sentiment as the US winds [...]
Bank of Japan and Shinzo Abe prepare for next round of stimulus in fight for growth

July 26, 2016

Japan's policymakers are gearing up to unleash a new round of massive economic stimulus over the next few weeks in a push to bust the economy out of its low-growth low-inflation malaise. The action will get underway this week in a crunch central bank meeting where markets expect the Bank of Japan (BoJ) to deliver [...]
The Bank of England is all but certain to slash rates next week after Martin Weale’s declaration

July 26, 2016

Another member of the Bank of England's rate-setting monetary policy committee (MPC) has signalled their intent to vote in favour of slashing interest rates at next week's meeting, pushing expectations of a cut to a near-certainty. Martin Weale, an independent member of MPC said today in the Financial Times last week's disappointing purchasing managers' index (PMI) had [...]
At the close: FTSE 250 edges towards pre-referendum level

July 25, 2016

The FTSE 250 has taken another step towards wiping out its post-referendum losses as speculation about the latest deal in the gambling industry pushed the mid-caps higher. William Hill investors jumped at the prospect of a being bought out by 888 and Rank Group, with shares popping 11 per cent at the open this morning. They [...]
Top credit ratings agency declares European Union “unsustainable”

July 25, 2016

Standard and Poor's (S&P), one of the world's top credit ratings agencies, has branded the current European Union "unsustainable" as it outlined the urgent need for reform. The UK's vote to sever ties with the other 27 members of the EU is just the latest example of dismay with the system of "pooled" sovereignty where [...]
UK could lose £250bn in potential M&A deals after Brexit

July 25, 2016

Brexit could cost the UK economy hundreds of billions in lost M&A activity over the rest of the decade, as firms hold off wheeling and dealing in the aftermath of the EU referendum. Research for lawyers Baker and McKenzie said a long-drawn out negotiation and prolonged business uncertainty could result in activity shrinking by one-third by [...]

The Capitalist: Lloyds teases wannabe buyers with ‘homebuying tasting menu’

Women’s Super League fans spend more on matchdays than Premier League counterparts

Spirit of Speyside Whisky Festival to drive millions into Scotch sector

By: Jake Cordell

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