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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Reducing net migration could mean the state pension age goes up and annual payments come down

June 2, 2016

Hitting the government’s net migration target would put an £8bn hole in the public finances, and could lead to lower state pensions or higher taxes. New analysis, out today, from the National Institute for Economic and Social Research (Niesr) found that reducing immigration to the "tens of thousands" would hit tax revenues by £3bn a year by [...]
EU referendum: The industries that will – and won’t – feel the Brexit hit

June 1, 2016

Big UK and European businesses could see investment dry up if the UK votes to leave the European Union on 23 June, according to Standard and Poor’s (S&P). The ratings agency warned Brexit would “paralyse capital investment”, leave companies across the continent struggling to secure funds for “years to come” and “erode the competitive position” [...]
At the close: Stocks and sterling on the slide

June 1, 2016

The FTSE 100 picked up where yesterday left off, shedding yet more points as a package of opinion polls, weak economic data, and a miserable start to meteorological summer dented traders' spirits. The London index dropped 0.6 per cent to fall below the 6,200 mark, after it missed out on stumbling to four consecutive months of gains [...]
Graduates expect to earn £28,362 in their first job after university

June 1, 2016

As the class of 2016 polish off finals and prepare for graduation, eyes will turn to the prize – that lucrative and hard-earned first foray into the world of work. And this year's graduates – the second cohort to have paid £9,000 a year in tuition fees – are expecting some rather handsome pay packets to [...]
Sterling has plunged against the dollar after opinion polls show the EU referendum sides are neck-and-neck

June 1, 2016

Sterling has crashed against the dollar over the last 48 hours after a smattering of opinion polls raised the chances of the UK voting to leave the EU. The pound was trading at $1.4428 this lunchtime, down more than three cents on the highs of $1.4739 reached last week as traders said volatility was going to increase [...]
John McDonnell attacks George Osborne’s economic policy as an “absolute failure”

June 1, 2016

The shadow chancellor John McDonnell has launched a stinging attack on George Osborne’s economic policy after the Organisation for Economic Co-operation and Development (OECD) slashed its growth forecasts for the UK economy. The OECD said it now expects the UK to grow by 1.7 per cent this year, down from a prediction of 2.1 per cent [...]
Manufacturing industry set for further slowdown as PMI figures remain weak

June 1, 2016

The manufacturing industry is still in the doldrums, according to the new data out today which points to a marked decline in output in the run-up to the EU referendum. The sector clocked a score of 50.1 on the Markit/Chartered Institute of Procurement and Supply (Cips) purchasing managers’ index (PMI) for May, where scores above 50 indicate [...]
OECD slashes growth forecasts and says Brexit could spark panic in global economy

June 1, 2016

The Organisation for Economic Development and Co-operation (OECD) has warned that a vote to leave the European Union would set off a chain reaction of market turmoil across the global economy. The body said the "most immediate" risk facing the world economy was the prospect of Brexit as it slashed its growth forecasts for the UK [...]
EU referendum: Britain Stronger in Europe and Vote Leave trade blows over Brexit jobs risk

June 1, 2016

If the UK leaves the European Union and the single market, London could miss out on tens of thousands of extra jobs, pro-EU campaigners have claimed, as Remain campaigners today seek to put forward the case for membership from manufacturers. Analysis by the Centre for Economic and Business Research (CEBR) for the official Britain Stronger in [...]
At the close: Brexit poll sends FTSE 100 down for the month and knocks sterling back

May 31, 2016

A shock EU referendum poll killed the FTSE 100’s chances of stumbling to a fourth consecutive month of growth today, as the blue chip index failed to stay above the 6,241 gain line. The FTSE 100 closed the day down 0.6 per cent at 6,230.79 following a new ICM survey which put the Leave side four [...]

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By: Jake Cordell

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