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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European banking shares skid lower as FTSE 100 sinks

June 10, 2016

European banking shares finished sharply lower today, making their biggest intraday decline since the beginning of February. The Stoxx 600 Banks index finished 4.2 per cent lower, its biggest one-day fall since 11 February. It was pushed down by the likes of Deutsche Bank, which skidded 4.6 per cent to €14.06, and Credit Suisse, which fell 3.8 per cent [...]
Jean-Claude Juncker to meet Russian President Vladimir Putin next week

June 10, 2016

The president of the European Commission, Jean-Claude Juncker will meet Vladimir Putin next week for the first time in eighteen months, his spokesperson confirmed this afternoon. Juncker is set to make his first visit to Russia since the Ukraine crisis, and the imposition of sanctions by the EU against Russia, next week to attend the [...]
Could Eurozone stock markets be set for a bull run?

June 10, 2016

Over the past 12 months, Eurozone equity markets have underperformed US stocks by around 11 per cent in local currency – or nine per cent in dollar terms. There are a number of different reasons for this – but could the equity markets be about to catch up? Slow and steady European hard data suggest that the domestic economy [...]
We asked 12 experts to predict what the FTSE and sterling will do the day before the EU referendum

June 10, 2016

Sterling will fall against the dollar and the FTSE 100 will slip back as the UK edges closer to the EU referendum, a dozen leading economists and market analysts have told City A.M. With the pound shooting up and crashing down in response to every new piece of referendum news – especially the opinion polls – [...]
Pre-referendum bounce for construction industry in April

June 10, 2016

The construction industry became the latest bit of the UK economy to shake off Brexit uncertainty as output grew at its fastest pace since January 2014 on a monthly basis. Figures released by the Office for National Statistics (ONS) this morning showed that the construction industry was 2.5 per cent larger in April than in March [...]
Business investment growth slows ahead of Brexit vote

June 10, 2016

Businesses investment is set for a modest slowdown in the second quarter of the year, as the UK economy creeps towards its vote on EU membership, taking place in just 13 days, accountants have said. The Institute of Chartered Accountants (ICAEW) has predicted growth in corporate spending will dip to 4.1 per cent in the three [...]
Tesco takes a hit on sale of Giraffe restaurants

June 10, 2016

Tesco has confirmed it will sell its Giraffe restaurant chain to British restaurateur and food empire giant Ranjit Singh Boparan, the owner of Harry Ramsden's for an undisclosed fee. The supermarket giant also announced today it will offload its Turkish supermarket arm, Kipa in a deal which reduces the company's debt burden by £110m. Tesco bought Giraffe [...]
Eastern European leaders want the UK to stay in the EU

June 9, 2016

Eastern European leaders have called on the UK to vote to stay in the European Union later this month, saying that the UK is a strong force for dealing with Europe’s upcoming challenges. The prime ministers of the Czech Republic, Hungary, Poland and Slovakia, the so-called Visegrad Group (V4), issued a joint statement yesterday outlining [...]
French central banker calls for Eurozone parliament to end mistrust

June 9, 2016

Mistrust between Eurozone countries has cost the single currency bloc "millions of jobs", according to France's top central banker, who called for the creation of a Eurozone parliament to help the recovery. The Eurozone economy could be up to five percentage points bigger had it been fully prepared for the economic crisis, but "deep political resistance" [...]
Yields on UK government debt have just hit a record low ahead of the EU referendum

June 9, 2016

The price of government debt in both the UK and Germany hit record lows today, as investors rushed into safe haven assets with the EU referendum and further monetary stimulus on the horizon. The yield on the benchmark 10-year UK bonds hit 1.22 per cent this morning, the lowest since Bloomberg starting tracking the cost of debt [...]

Businesses brace for costs as new workers’ rights kick in

Woods to McIlroy: How Tiger Slam at Masters reshaped economics of sport

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

By: Jake Cordell

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