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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EU trade commissioner rules out talks until after UK formally departs

July 1, 2016

Europe's top trade negotiator has told the UK it might not be able to negotiate a trade deal until it has formally left the European Union. When asked what her plans were for a new relationship between the EU and the UK, Cecilia Malmstrom, the EU trade commissioner and one of the most powerful officials in [...]
At the open: Yields getting killed as investors seek Brexit shield

July 1, 2016

Stock markets have opened with their typical Friday morning calm today, despite frantic trading since last week's vote to leave the EU. The FTSE 100 climbed 0.4 per cent in the first chunk of the session to build on yesterday's impressive gains. The index is standing at a 10-month high of 6,530. With no company [...]
The Daily Mail and more senior cabinet ministers back Theresa May for the Conservative leadership

July 1, 2016

Theresa May has stretched her lead as the frontrunner in the Conservative leadership race this morning, winning the backing of the Daily Mail, support from The Sun, and endorsements from more senior cabinet ministers. The home secretary, who announced her bid to succeed David Cameron in Westminster yesterday, was described as the only candidate with "the right qualities, [...]
Mark Carney prepares to cut rates and raises prospect of more quantitative easing

June 30, 2016

The governor of the Bank of England has told markets to expect a cut in interest rates as he warned the economy was in for a period of prolonged uncertainty and significantly slower growth in the wake of the EU referendum. In his second intervention since the UK voted to walk away from the EU, [...]
What does the Brexit vote mean for the public finances?

June 30, 2016

Economists have warned the government's debt pile is set to jump following the UK's decision to leave the European Union. With growth forecasts being slashed and many fearing the UK is on the brink of a recession, the chances of the UK eradicating its budget deficit by the end of the decade are look slimmer. [...]
Did Boris Johnson just move the currency markets?

June 30, 2016

Traders have managed to keep a cool head today, despite the fallout from the UK's vote to leave the EU continuing to shock the political world, and many clamouring to link the two. The FTSE 100 was down, then up, then flat in the first half of the day's trading, standing unchanged at 6,357 at lunchtime. [...]
Eurozone back in inflation for first time in five months

June 30, 2016

Existential crises, political arguments and the clamour for referendums aside, the Eurozone nudged back towards a semblance of normality today, with a return to inflation in June. Price rose by 0.1 per cent in the year to June, according to the official EU stats body, Eurostat, ticking into positive territory for the first time since January. Cheaper energy [...]
When will Article 50 be triggered? Probably not this year, according to the bookies

June 30, 2016

Although the electorate have signalled their intent to leave the European Union, one big question remains in Westminster, the City, across Europe and even further afield: When will the UK actually break away? This comes down to the crucial matter of Article 50 – the clause which sets the clock ticking on a two-year timetable [...]
UK current account deficit running at a near record high

June 30, 2016

The UK's current account deficit is still running at a near record high, stoking fears about a balance of payments crisis in the wake of the UK's referendum on the EU. The deficit – a measure of the difference between money coming in and going out of the country – came in at £32.6bn in the [...]
Michael Gove ditches Boris Johnson and enters the race to succeed David Cameron

June 30, 2016

Michael Gove has this morning announced he will stand in the Conservative leadership race to succeed David Cameron as prime minister. Gove, who headed up the Vote Leave campaign, was widely expected to throw his support behind Boris Johnson in a joint bid, but has now sought to distance himself from his colleague. In a statement this [...]

Close Brothers set for £320m motor finance hit as it eyes legal rows

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The Lake District but thrilling, with yacht trips and 4×4 off-roading

By: Jake Cordell

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