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

Investment bank Societe Generale says Osborne will miss his target of a budget surplus by tens of billions of pounds

May 31, 2016

George Osborne will not even come close to meeting his budget surplus target and the next move for UK interest rates will be down, according to Societe Generale's gloomy global economic outlook, published today. The investment bank said risks were stacking up across the world and the current "sweet spot" for financial markets could come to [...]
The European Union lost over €880m to fraud in 2015

May 31, 2016

More than €880m (£675m) of EU funds was stolen by fraudsters last year, a new report from the European Union's anti-fraud body has found. The European Anti-Fraud Office (Olaf) responded to 1,442 allegations of fraud in 2015, closing more than 300 separate investigations which revealed €888.1m had been lost to fraud. This was slightly down on the €901m lost [...]
Brexit not even close to the top spot in list of investors’ top concerns

May 31, 2016

Retail investors are shrugging off concerns about the EU referendum, as they turn their attention to bigger events on the horizon. More than nine in ten investors said they could think of an issue which was more worrying than the possibility of Brexit, in new research from The Share Centre. Top of investors' minds was the Chinese [...]
Germany and UK push EU unemployment down to post-crisis low

May 31, 2016

Unemployment across the European Union reached a seven-year low in April, as Germany clocked a record-low jobless rate and the UK registered its highest ever number of people in work. The rate of unemployment for the entire EU came in at 8.7 per cent in April, down from 8.8 per cent a month before – the lowest [...]
Inflation rate still negative in Eurozone as ECB policies having muted effect

May 31, 2016

The Eurozone remained locked in deflation in May 2016, according to flash estimates released this morning by Eurostat. Inflation, on the harmonised index of consumer prices (HICP) across the 19-member single currency union came in at minus 0.1 per cent, up slightly from minus 0.2 per cent in April. The main index was dragged down by [...]
Soaring demand for bankers, insurers and accountants, but graduates left out in the cold

May 31, 2016

Finance firms across the UK are on a hiring spree, as the number of job vacancies in banking jumped by ten per cent last month. The new analysis of job openings by a group of recruitment firms will provide welcome respite from reports of swingeing job cuts, as the Association of Professional Staffing Companies (Apsco) [...]
Mario Draghi to keep stimulus on ice in this week’s ECB meeting

May 30, 2016

Mario Draghi will put his weapons out on display but keep the ammunition locked away at this week's European Central Bank (ECB) monetary policy meeting, experts have predicted. The president is expected to hold fire on another bout of quantitative easing or further interest rate cuts, as early indications appear that the ECB's latest efforts to [...]
New economic data to underline UK’s struggle for growth this week

May 30, 2016

The UK economy is still struggling for momentum, fresh data out this week is likely to confirm. Economists expect the bellwether purchasing managers’ indexes (PMIs) to remain glued at three-year lows as businesses and consumers remain cautious until after the EU referendum. Readings on all three measures – which cover the services, manufacturing and construction [...]
EU Commission president Jean-Claude Juncker to visit Russia one week before EU referendum

May 30, 2016

Europe's top official, Jean-Claude Juncker, is set to meet the Russian president Vladimir Putin in June during his first visit to Russia since the Ukraine crisis, it was confirmed today. Juncker, president of the European Commission, is set to attend the St Petersburg International Economic Forum on 16 June – just one week before the UK's referendum – where he will [...]
Setback for Greece as GDP shrinks faster than first thought in first quarter

May 30, 2016

The Greek economy contracted by a shaper amount that previously thought in the first three months of the year, in a reality-check for the troubled nation following a string of upbeat developments. Economic output in Greece fell by 0.5 per cent between January and March – sharper than the 0.4 per cent contraction previously pencilled in. [...]

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By: Jake Cordell

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