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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Standard and Poor’s: The good times may be over for Europe’s top companies

July 19, 2016

Brexit could spell the end of a relatively benign period for the UK and Europe's biggest companies, according to Standard and Poor's (S&P). In a new report, the ratings agency warned: "The UK's decision to leave the EU is likely to knock the European corporate sector out of the 'sweet spot' it has been enjoying". The body cited [...]
Internet of Things not so clever as scepticism holds back the rise of smart homes

July 19, 2016

Households are failing to put their money where their mouth – or their food – is when it comes to the Internet of Things (IoT), a new survey into connected devices from consultants Deloitte has found. While two-thirds of UK consumers said they believed IoT gadgets could make their lives better, only half of us [...]
Yahoo posts on-point second quarter earnings as sale draws to a close

July 18, 2016

Yahoo investors were unmoved by a mixed earnings report from the American technology giant this evening as the firm prepares to offload its internet business in the next few days. Revenues came in at a total of $1.3bn in the second quarter of 2016, slightly ahead of expectations, but earnings per share missed analysts' hopes [...]
MPs vote in favour of Trident renewal as majority of Labour MPs vote against Jeremy Corbyn

July 18, 2016

MPs have voted in favour of replacing the UK’s Trident nuclear weapons programme in another day of extraordinary events at Westminster which saw Jeremy Corbyn yet again clash with a majority of his own backbenchers. A majority of Labour MPs – 138 of a total of 230 – voted with the government, in line with their own [...]
Netflix shares dive as punters and investors switch off on poor subscription numbers

July 18, 2016

Shares in Netflix crashed by more than 15 per cent in after hours trading tonight after the video streaming service came in well short of expectations for new subscribers. Just shy of 1.7m people around the world signed up to Netflix in the second quarter of 2016 – thirty per cent off the firm's own guidance [...]
Bundesbank steps up attempts to seize control over euro bailout cash

July 18, 2016

The German central bank has called for the role of the European Commission in managing Eurozone bailouts to be watered down. In its monthly report, published today, the Bundesbank said it wants the finance ministers of Eurozone countries to set and enforce the rules that govern payments made by the European Stability Mechanism (ESM). It [...]
Wells Fargo pounces on property slowdown to snap up new London offices

July 18, 2016

US banking giant Wells Fargo has defied reports of a commercial property crash to sign the dotted line on a £300m deal for a brand new London headquarters. The bank signed off on a new agreement for the 227,000 square foot building, known as 33 Central, on King William Street in the heart of the [...]
Former chancellor George Osborne tries to secure his legacy as anything but Brexit

July 18, 2016

George Osborne has issued a robust defence of his time as chancellor and said he believes the UK's best days lie ahead in a speech littered with attempts to define his own legacy. In the annual Margaret Thatcher memorial lecture held by the Centre for Policy Studies, Osborne placed his achievements such as protecting the UK's commitment to [...]
Turkish stock market investors flee as Erdogan crackdown continues after failed coup

July 18, 2016

The Turkish stock market suffered its sharpest one-day fall in more than three years today in the first day of trading since Friday's failed military coup. All but one of the top 100 stocks on the Borsa Istanbul were in the red today as the index slid by 7.1 per cent as political uncertainty lingered following [...]
The Bank of England says issuing an official cryptocurrency could raise economic output

July 18, 2016

Introducing a Bitcoin-style official currency could boost economic output, help maintain financial stability and smooth the cycle of boom-and-bust, the Bank of England has found. A new report from wonks at Threadneedle Street has modelled the impact of a central bank issuing a new legal tender based on blockchain or distributed ledgers – the technology behind Bitcoin – finding [...]

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By: Jake Cordell

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