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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Sterling slips again after latest opinion polls show strong support for Brexit

June 6, 2016

The pound has yet again borne the brunt of the twists and turns of the EU referendum campaign, with another big drop in the value of the currency today after more opinion polls showed the Leave side on top. Sterling has lost 0.7 per cent against the US dollar today, falling to a three-week low of $1.4406, [...]
The curious case of Swiss referendums: Tunnels and trains win the day but tax changes shot down at the polls

June 6, 2016

Swiss voters rejected the much-hyped basic income proposal put to them in yesterday's referendum. More than three-quarters of voters sided with the government and campaigners who warned the proposal to give every man and woman 2,500 Swiss francs (£1,773) a month was just too expensive. The proposal was put forward by a Swiss businessman through Switzerland's form [...]
Weak overseas demand hits German manufacturers

June 6, 2016

Germany's manufacturing industry took a surprise hit in April as factory orders fell, denting hopes of another quarter of impressive economic growth. New orders with German manufacturers fell two per cent between March and April, according to statistics released this morning, as weaker overseas demand could knock the German economy in the second quarter. Domestic orders grew [...]
Tax freedom day slips into June as annual tax bill grows

June 3, 2016

Today marks “tax freedom day”, the day of the year when the average UK worker stops paying tax and starts earning for themselves. The date, calculated by the Adam Smith Institute (ASI), falls four days later than in 2015 and has crept into the month of June for the first time in 15 years. With tax [...]
Brace yourself: 72 brand new emojis are hitting screens later this month

June 2, 2016

The emojis you never knew you couldn't live without are finally arriving. The body that polices the use of smiley faces (yes, it's a thing), signed off on a total of 72 new animated characters that will be rolled out later this month. After a gruelling admission process that involves weekly phone calls among a top-secret body [...]
This is what the new polymer £5 note will look like

June 2, 2016

After months of waiting, the Bank of England has finally unveiled the new polymer £5 note that will come into circulation later this year. The design features former prime minister Winston Churchill and will be the first of the new generation polymer notes that the Bank says will make paper money "cleaner, safer and stronger". [...]
Mario Draghi wants the UK to stay in the European Union as he unveils date for big bazooka

June 2, 2016

Mario Draghi has explicitly called on UK voters to reject Brexit and choose to stay in the EU in the 23 June referendum. The president of the European Central Bank (ECB), speaking in Vienna this afternoon, did not hedge his bets, saying point blank: "The UK should remain in the EU. "The EU will benefit [...]
ECB will start buying corporate bonds as part of €80bn a month package next week

June 2, 2016

The European Central Bank (ECB) will start buying corporate bonds as part of its quantitative easing package next week, it was confirmed today, as the Bank kept monetary policy on hold. The central bank, headed by president Mario Draghi, left its headline interest rates unmoved, with its deposit facility at minus 0.4 per cent and [...]
The only “logical” answer to Brexit: Declare London a city state

June 2, 2016

I believe any rational assessment of the situation should lead to a vote to remain in the EU. There is almost universal consensus among economists and the major global economic institutions that a Brexit will result in an economic hit to the country. There is a small possibility that it might destabilise global financial markets. [...]
Construction PMI hits new low with building on hold until after EU vote

June 2, 2016

Another PMI. Another disappointing score. Another sign that the UK economy is slowing down. This morning it was the turn of the construction industry to post the latest weak score on the purchasing managers' index (PMI), as the industry experienced the first fall in new orders in three years and edged dangerously close to slowdown territory. [...]

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By: Jake Cordell

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