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.

All 1029 Articles

EU referendum: Conservative chancellors and leaders attack Bank of England and George Osborne for dishonesty

June 16, 2016

Four Conservative grandees, including two former chancellors and a pair of ex-leaders, have accused the Bank of England of "peddling phoney forecasts and scare stories", as they lashed out at George Osborne's plans for an emergency Brexit budget. Writing in The Telegraph this morning, the group – chancellors Norman Lamont and Nigel Lawson, and former leaders Iain Duncan-Smith and [...]
City A.M. Shadow MPC votes 9-0 to hold rates before EU vote

June 16, 2016

The Bank of England has no option but to keep interest rates on hold until after the EU referendum, leading city economists and experts have said. The Bank’s rate-setting monetary policy committee (MPC) meets today, just one week before the 23 June vote, with all eyes on governor Mark Carney who warned last month that a [...]
Financial sector faces toughest competition in nearly a decade

June 16, 2016

Banks are facing their toughest squeeze on profitability in nearly two years as fierce competition in the financial services industry puts pressure on bottom lines. The latest quarterly survey of the sector from the CBI and PwC found that more firms are feeling pessimistic than optimistic about the outlook for the industry for the second quarter [...]
At the close: FTSE 100 back on the up as markets and sterling recover some lost ground

June 15, 2016

The FTSE 100 ended a four-day losing streak and sterling recovered some of its lost ground in a reassuring day for the markets. After yesterday's routing which wiped £30bn from the UK's leading companies, the blue chip index ended up 0.7 per cent at 5,966.80. That wasn't enough, however, to offset even half of yesterday's dramatic losses, [...]
What to look out for from the Federal Reserve’s interest rate decision this evening

June 15, 2016

For a few brief hours this evening, markets will turn their attention away from next week's EU referedum. Eyes will drift across the pond, to the most powerful central banker in the world, Janet Yellen. Tonight the US Federal Reserve's rate-setting Federal Open Market Committee (FOMC) will update the market on its latest economic thinking and [...]
Record employment eases pre-referendum pressure on household finances

June 15, 2016

Households' confidence in their own financial situation rebounded this month in the latest sign that uncertainty around the EU referendum does not appear to be weighing on the economy too heavily. The Markit household finances index, which measures how optimistic or pessimistic UK households feel jumped up from a 22-month low of 42.3 in May [...]
Unemployment rate hits lowest level for 11 years and wage growth holds up

June 15, 2016

The unemployment rate has fallen to its lowest level in 11 years, as EU referendum fears and the introduction of the national living wage failed to hold back UK firms. Falling from 5.1 per cent last month to five per cent, the headline unemployment rate in the three months to the end of April was the [...]
Stocks and sterling show signs of life in mini-recovery after market rout

June 15, 2016

Markets jumped in the first minutes of trading this morning and the pound rose against the dollar, clawing back some of yesterday's losses. The FTSE 100 climbed 0.8 per cent at the open, but was still below 6,000 points at 5,972 following yesterday's rout. Standard Chartered, Anglo American, Antofagasta, Glencore, Burberry and Tesco were the [...]
EU referendum: Conservative MPs threaten to bring down their own government in Brexit row

June 15, 2016

A host of Conservative MPs have threatened to vote down a revenue-raising post-Brexit budget as the civil war engulfing the Conservative Party reaches new heights. As George Osborne threatened Brexit would force him to raise new taxes or cut spending to plug a £30bn hold in the public finances, 57 Conservatives have this morning issued [...]
IMF raises fresh alarm over Chinese debt time bomb

June 14, 2016

Excessive Chinese borrowing is one of the most serious threats to the world economy, the International Monetary Fund (IMF) has declared, as it urged policymakers to press ahead with reforms. Concluding its annual health check of the world’s second biggest economy, the IMF said getting a grip of the debt problem — particularly in the [...]

Missing US airman rescued as Trump warns “all hell will rain down”

Back of the Netflix: Sports content is fuelling wave of ad-funded streaming

Barbican Centre: the brutalist landmark weaving art into everyday London life.

By: Jake Cordell

All 1029 Articles

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