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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John Kerry: US-EU trade deal more important because of Brexit vote

July 18, 2016

Striking a far-reaching trade deal between the European Union and the United States is more important than ever following the UK's vote for Brexit, the US secretary of state John Kerry said today. In a jam-packed meeting with top EU officials, where recent events in Turkey and Nice dominated the agenda, Kerry reiterated US support for an ambitious [...]
Firms back Theresa May’s attack on runaway executive pay

July 18, 2016

Business leaders have given a resounding endorsement of Theresa May’s proposals to shake up corporate governance and put pressure on runaway levels of executive pay. In a new poll by FTI Consulting, seen exclusively by City A.M., 81 per cent of senior figures from small, medium and large companies backed a tougher government stance on [...]
Ageing small business owners urged to focus on succession planning

July 18, 2016

Small business owners could be risking their financial future by failing to adequately prepare for retirement, according to an accountancy firm. With the average age of directors at the UK’s small and medium-sized companies nearly 55, and one-third over 60, Moore Stephens has raised concerns too few are putting the time and effort into managing [...]
Arrests pass 6,000 as Turkish President Recep Tayyip Erdogan promises fierce retribution following failed military coup

July 17, 2016

The government crackdown following the failed military coup in Turkey continued over the weekend, with President Recep Tayyip Erdogan promising to "cleanse" his opponents as the number of arrests surpassed 6,000. On Sunday Turkish officials claimed the government had regained full control of the state apparatus after the military briefly locked down parts of Istanbul and the capital [...]
Bank of England MPC members want more than just lower interest rates

July 17, 2016

One of the Bank of England's interest rate setters has said the looming cut to interest rates might not be enough to support the UK economy. Gertjan Vlieghe, the newest member of the nine-strong monetary policy committee (MPC), wrote in the Financial Times today that the UK is heading for a period of "lower growth and higher [...]
One-quarter of office space in the City and Canary Wharf could become vacant if UK leaves Single Market

July 17, 2016

Swathes of offices across London could be deserted over the next few years if the UK does not secure access to the Single Market after it leaves the European Union, according to new research. DealX, an analytics company, estimated 26m square feet of commercial real estate, equivalent to nine per cent of all office space [...]
Bank of England to cut interest rates next week according to financial markets

July 10, 2016

Financial markets are expecting the Bank of England to slash interest rates when they meet next week, in a drive to stimulate the economy after the EU referendum. The Bank's rate-setting Monetary Policy Committee (MPC) will announce its latest decision on interest rates on 14 July – and markets put the chances of a cut at [...]
Brexit vote prompts hiring freeze and unemployment fears

July 8, 2016

Hiring has crashed in the weeks after the referendum according to two separate studies of employers, raising fears unemployment could be set to rise over the summer. The closely-watched jobs report from the recruitment and employment confederation recorded the first fall in permanent hiring for four years in June as firms refused to take on [...]
Brexit vote pushes confidence down at fastest pace in two decades

July 8, 2016

One of the most closely-watched barometers of consumer confidence has suffered its sharpest monthly decline in more than two decades as the Brexit shock kicks in and households prepare to tighten the purse strings. The GfK consumer confidence index sank further into negative territory – scores which indicate more people feel the economy will get worse than better – between June [...]
Strong GDP estimates conceal signs of Brexit contraction

July 7, 2016

The UK economy grew by 0.6 per cent in the second quarter of the year according to a new estimate from the National Institute of Economic and Social Research (Niesr) published today. The think tank reckons growth will have picked up from the sluggish 0.4 per cent clocked in the first three months of the year, but [...]

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By: Jake Cordell

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