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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World on course for record number of debt downgrades

July 7, 2016

This year will see more downgrades to government credit ratings than ever before, one of the top sovereign debt calculators has predicted. Fitch said 15 countries have already had their credit score slashed, and another 22 are on course for a downgrade if they do not swiftly improve their economic outlook. This puts the world on track [...]
Brexit risks means investors can’t get enough of government debt

July 7, 2016

The demand for government debt was its strongest for more than three years in the second post-referendum auction of UK bonds held this morning. Investors jumped at the opportunity to get their hands on the safe haven 10-year bonds, with demand for the £2.25bn worth of coupons on offer outstripping supply by 2.3 to one. [...]
It’s official: Londoners are the grumpiest in the country

July 7, 2016

Fed up of all the Brexit doom and gloom? Need a little pick-me-up as we enter the summer months? Then look away now. Because new research from those happy-go-lucky number crunchers over at the Office for National Statistics (ONS) has found Londoners are the grumpiest people in the country. For anybody who has incurred the uncompromising [...]
One analyst thinks sterling could reach parity against US dollar

July 7, 2016

Sterling could be on course to reach its lowest ever level against the dollar if the country does not sort out the political crisis and secure a good deal with Europe, a leading economist has warned. The chief economic adviser to insurance giant Allianz, Mohamed El-Erian, said the pound is "facing a double whammy" of [...]
Business confidence comes crashing down after Brexit vote

July 7, 2016

The latest evidence of the extent to which the UK's vote to leave the EU has shaken the economy has been released today, with another survey showing a remarkable decline in business confidence. The Lloyds business barometer crashed from a score of 32 to just six on an index where positive scores indicate rising business activity. [...]
At the close: Markets enter reverse as Brexit strains stack up

July 6, 2016

Sterling has been savaged today, the FTSE 100 has crashed and half of all assets in UK property funds have been frozen in a difficult day on the financial markets. The pound dropped down below $1.28 overnight, recovered briefly, but is now on the slide after a number of analysts published decidedly bearish forecasts. A [...]
Royal Bank of Scotland chair hints Brexit turmoil will delay government sale

July 6, 2016

The boss of Royal Bank of Scotland (RBS) has predicted it will be some time before the government can start to sell off its shares in the bank. Sir Howard Davies, chairman of the lender, which is 73 per cent taxpayer-owned, told the BBC it was “realistic” to think the government will have delayed its plans [...]
Slow lane for EU-Canada trade deal could hit Brexit negotiations

July 6, 2016

The EU’s landmark free trade deal with Canada could be years away from coming into force, after it was agreed national parliaments across the continent will have to approve the treaty. Earlier this week the EU’s trade commissioner Cecilia Malmstrom said she had ceded to political pressure and decided all 28 members will have to take [...]
Moody’s: Osborne created even more uncertainty by ditching surplus target

July 6, 2016

George Osborne has added fuel to the fire of uncertainty by abandoning his target to balance the books by the end of the decade, Moody's said today. The ratings agency said the chancellor's announcement last week that he would no longer be seeking to run a budget surplus this decade instantly heaped more pressure on [...]
Dip in car sales provides few clues about Brexit fallout

July 6, 2016

New car sales dipped slightly in June after recording their best ever start to a year, as analysts get one more snapshot of how the UK economy is faring in the aftermath of the EU referendum. The total number of vehicles registered in June fell by 0.8 per cent compared to last year, with a [...]

El Nino heatwaves to ‘fuel inflation next year’

Champions Cup rugby team hacked in ransom attack with player data at risk

A tribute to wine legend Matthew Jukes by his friend Libby Brodie

By: Jake Cordell

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