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.

Saudi Arabia to raise $17.5bn in record-breaking bond auction

October 19, 2016

Saudi Arabia is on course to break records with its first ever government bond sale on the open markets. The oil giant will raise $17.5bn as it seeks to accelerate its diversification away from oil in the largest dollar-denominated deal of its kind from an emerging market economy, according to reports on Wednesday. Appetite for [...]
Jobs market holds up as experts await Brexit hit

October 19, 2016

The UK labour market is holding up well in the face of the shock vote to leave the EU, though experts say it is just a matter of time before wages come under pressure and jobs stutter. Employment and pay growth managed to beat expectations in figures published by the Office for National Statistics (ONS) [...]
The pound’s doing what the pound does best

October 19, 2016

Of course it was too good to be true. Yesterday, the FTSE 100 rose and the pound was up by more than one per cent against the dollar and the euro. But those who said such a mighty jump to the giddy highs of $1.23 and €1.12 (compared to $1.48 and €1.30 back in June), [...]
Leaked government documents reveal £75bn cost of hard Brexit

October 19, 2016

Theresa May has come under fire for regurgitating pre-referendum economic warnings to claim leaving the EU Customs Union would cost the UK £75bn and inflict travel chaos across the country. According to The Guardian, the Prime Minister has circulated papers to top cabinet colleagues on her Brexit planning committee outlining the potential mutli-billion pound cost of a [...]
China reports “better than expected” economic growth

October 19, 2016

China’s economy is showing signs of stability after the nation’s government reported growth at an annual rate of 6.7 per cent in the last quarter. The growth figure for the three months to September was in line with forecasts and at the same rate as the previous two quarters. Read more: Chinese trade tumbles amid [...]
Brexit deal and EU trade policy in the spotlight as EU-Canada deal falters

October 18, 2016

The EU’s entire trade policy was brought into question today after political squabbling looked set to cast another delay to the landmark EU-Canada free trade agreement. Following a regional parliament in Belgium voting against the deal last week, trade ministers from the other 27 EU countries were forced to issue an ultimatum to the Belgian [...]
Sterling and FTSE 100 jump as inflation hits two-year high

October 18, 2016

Sterling recovered some poise today, soaring higher after inflation jumped to a two-year high. The FTSE 100 also jumped back above 7,000 in early morning trading, fading only slightly to end the day up 0.7 per cent at 6,994 as traders and investors digested the news that prices rose by one per cent in the year to [...]
Autumn Statement 2016: Infrastructure boom to provide Brexit boost for construction sector

October 18, 2016

The construction industry looks set to be the shining light of the UK’s post-Brexit economy as the industry benefits from an infrastructure spending spree over the next decade. Researchers at BMI Research, part of the Fitch Group, which also owns the powerful ratings agency, said the construction sector will grow at a rate of 2.8 [...]
PwC sounds alarm over sluggish economic recovery

October 18, 2016

PwC has become the latest big name to raise concerns about the implications of the technological revolution on inequality, economic growth and unemployment. In a new report, the accountants point out that while the developed world has bounced back from the financial crisis in terms of the size of individual economies, consumer spending is still down [...]
Banks blame Draghi for their dwindling profits

October 18, 2016

There is no end in sight for Europe's squeezed banking sector as the continent's top lenders prepare to feel the pain of negative interest rates for at least the next six months. Nearly every bank in the Eurozone said their profits had been hit as a result of the European Central Bank (ECB)'s historically low [...]

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