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: How to make Britain’s EU retreat a treat for trade deals

July 20, 2016

With Britain gearing up to leave the European Union, Westminster is in the midst of a trade frenzy. New departments are being formed, ministers appointed, and the search for trade negotiators is set to span hemispheres. The trio of Leave campaigners that will play a leading role in untangling the UK from Europe – Boris [...]
HSBC currency traders charged in New York in US rate-rigging investigation

July 20, 2016

Two of HSBC's top currency traders have been charged in New York today as part of the US investigation into rate-rigging, currency fixing and market manipulation. One, Mark Johnson, the bank's London-based global head of foreign exchange was arrested at John F Kennedy airport yesterday by FBI agents and was charged this afternoon in a federal court in Brooklyn with [...]
FTSE 250 approaches pre-referendum highs as equities bounce continues

July 20, 2016

Stock markets have surged again today on the back of strong employment data, as the closely-watched FTSE 250 hits a new post-referendum high. The mid-cap index, which is seen as a better gauge of the UK economy than the larger FTSE 100, climbed back above the 17,000 mark this afternoon, and is now down by [...]
Nick Clegg makes return to frontline politics as Lib Dems’ head of Brexit

July 20, 2016

Former deputy prime minister Nick Clegg will make a comeback to frontline politics as the Liberal Democrats' chief Brexit spokesperson. The MP for Sheffield Hallam stepped down as leader of the party following the Lib Dems' near-wipeout at last year's general election. But with so much government policy to scrutinise, his replacement Tim Farron has called on [...]
City representatives at civil war over how to respond to Brexit vote

July 19, 2016

Lobby groups tasked with promoting London's financial services have fallen into a bitter civil war over how the industry should respond to the UK’s decision to leave the European Union. Taking aim at rival organisations, the Chartered Institute for Securities and Investment (CISI) yesterday attacked both the British Bankers’ Association (BBA) and TheCityUK for not “stepping [...]
Cloud brings profit downpour for Microsoft as profits jump and share price climbs

July 19, 2016

Microsoft has bounced back into the black in the second quarter of the year with strong growth in its cloud-based products boosting earnings at the tech giant. After reporting a $3.2bn (£2.44bn) loss in the same period last year, Microsoft raked in $3.1bn in profits during the three months to the end of June pushing [...]
More commuter chaos at London Bridge as station buckles on hottest day of the year

July 19, 2016

Commuters travelling through one of the capital's most troubled railway stations were plunged into yet more misery this evening in blistering London heat. Trains through London Bridge and Cannon Street were delayed by up to 45 minutes through peak rush hour traffic this evening due to signalling disruption. The misery follows reports of a sinkhole [...]
Decision on City’s tallest skyscraper One Undershaft pushed back until Autumn

July 19, 2016

A decision on giving the go-ahead for what would become the square mile's tallest skyscraper was delayed this afternoon. One Undershaft – nicknamed the Trellis – is pitted to soar more than 300m just next to the Cheesegrater, but its construction has been put on hold for a few more months as the final kinks in the planning [...]
Angela Eagle pulls out of Labour leadership race

July 19, 2016

Angela Eagle has pulled out of the Labour leadership challenge, paving the way for Owen Smith to take on Jeremy Corbyn in a head-to-head fight. The former shadow business secretary, who was the first to announce she would challenge Corbyn, was in second place at the end of the first day of nominations from Labour MPs by a [...]
The end of austerity is nigh – but not for the Eurozone

July 19, 2016

Governments around the world could be nearing the end of austerity, as stable borrowing and low interest rates reduce the need to hack into spending or hike taxes. According to Capital Economics' public finance tracker, "fiscal policy in advanced economies is looser this year than last, and may well be eased further in the years ahead. [...]

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By: Jake Cordell

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