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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Homeowners worried house prices are falling – but dip may prove temporary

July 22, 2016

Homeowners across the country think the value of their houses fell over the last month for the first time in more than three years. With talk of a slowdown in transactions and pre-referendum warnings about a house price crash, the house price sentiment index (HPSI) compiled by IHS Markit and estate agents Knight Frank, published [...]
Research suggests we may have hit peak house price inflation

July 22, 2016

A rush of new listings and a dip in sales in the weeks after the referendum have knocked the wind from the London housing market, according to new research published today. Hometrack’s monthly monitor of house prices in UK cities showed that while prices rose by 10.2 per cent in the year to June, post-vote [...]
ExxonMobil buys InterOil in $2.5bn deal to explore gas field in Papua New Guinea

July 21, 2016

ExxonMobil is set to buy InterOil in a $2.5bn deal after rival Australian bidders pulled out of the deal. InterOil owns a one-third stake in the Elk-Antelope gas field in Papua New Guinea which it is planning to explore alongside French energy giant Total. The pair hope bringing the world's largest oil company, Exxon, on board will speed up development at the [...]
Another 700 jobs at risk as more BHS store closures confirmed

July 21, 2016

More misery was heaped onto worried BHS staff yesterday as administrators confirmed 30 more stores will be shut down at the end of July. The closures, announced today, will affect more than 700 jobs and takes the total number of shops that will close their doors over the next week to 50. Read more: Pensions lifeboat remains [...]
Pokemon Go catches a ban as Saudi Arabia renews fatwa against Nintendo game

July 21, 2016

Saudi Arabia's top religious authority has slammed hit app Pokemon Go, arguing the game is un-Islamic as it renewed a 15-year old fatwa banning all forms of the Pokemon game. Saleh al-Fawzan, a leading Islamic legal expert and member of the Committee for Islamic Research and Ifta, the body tasked by the Saudi royal family to interpret and make judgments in Islamic [...]
Fox News head Roger Ailes resigns amid sexual harassment allegations

July 21, 2016

Rupert Murdoch will take over the reins at Fox News after chairman and CEO Roger Ailes has resigned amid a number of allegations and media reports of sexual harassment. Announcing Ailes' departure this evening, Murdoch, who is executive chairman of holding company 21st Century Fox thanked him for his contribution and said he will become its new acting [...]
Number of private renters doubled over last decade

July 21, 2016

The rise of renters was laid bare today as new figures showed the proportion of homes in the private rental sector has doubled over the past decade. The Office for National Statistics (ONS) said 19.6 per cent of households — or 4.3m — were renting in 2015, up from 10.3 per cent in 2005. Fewer [...]
The housing market was buoyed by mortgage momentum on the eve of the EU referendum

July 21, 2016

Mortgage lending rocketed to an eight-year high before last month's EU referendum as the housing market showed few signs of pre-vote jitters Figures released by the Council of Mortgage Lenders (CML) showed £20.7bn was dished out to homebuyers and re-mortgagers in June – 16 per cent more than in May. The figure was an eight-year [...]
European banking shares bounce on Draghi bailout chatter

July 21, 2016

For once, European banks may well be liking the cut of Mario Draghi's jib. The Eurostoxx index of the Eurozone's top lenders has jumped by 1.3 per cent today after the European Central Bank (ECB) president put the pressure on EU politicians to push ahead with a bailout fund for troubled lenders. Draghi, who has acknowledged the strain his negative [...]
Draghi to hold fire as Eurozone prepares for difficult summer season

July 21, 2016

The European Central Bank (ECB) will edge closer towards extending its unprecedented stimulus package today as it enters a crucial period for the future of the single currency in the wake of the UK's Brexit vote. President Mario Draghi is expected to issue yet another last ditch call for national governments to help join him in the battle [...]

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By: Jake Cordell

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