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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Migration figures become latest political football in EU referendum

May 26, 2016

David Cameron and the Remain camp could probably have done without this morning's immigration statistics – figures that are almost certain to be put centre stage during the last four weeks of the referendum campaign. The numbers, published by the Office for National Statistics (ONS), showed net migration was running at 330,000 in 2015, as a record number of [...]
The cost of hedging against a swing in the value of the pound just hit a seven-year high

May 26, 2016

The price of hedging against volatility on the currency markets spiked today, as traders become increasing nervous with just four weeks to go until the EU referendum. The cost of insuring against swings on the value of the pound, as measured by one-month options for swapping sterling into US dollars hit a seven-year high today. [...]
IMF will not join Greek bailout until clear steps on debt relief have been agreed

May 26, 2016

The International Monetary Fund (IMF) has said that it "hopes" to officially join the Greek bailout programme by the end of the year, but insisted it could not make any guarantees. Earlier this week Greece agreed a €10.3bn (£7.8bn) deal to unlock funds from Eurozone to help it cover debt repayments due this summer. The programme [...]
The European Union is facing a perfect storm this summer

May 26, 2016

As Europeans look ahead to summer holidays, the union faces a series of severe tests. By now, drama in Greece and mid-year market gyrations may seem routine, but the number and timing of this year’s challenges set 2016 apart from summers past. With the UK’s referendum on EU membership set for 23 June, Spain’s rerun general [...]
At the close: FTSE 100 shaping up for an impressive week

May 25, 2016

We're just over half way through but UK markets seem to have a spring in their step this week as they closed even higher today on the back of "buying frezny". The FTSE 100 popped up another 0.7 per cent to 6,262.85 – the bluechip's highest close since the end of April. Banks once again led the [...]
Sterling could lose its reserve currency status after Brexit

May 25, 2016

Sterling could lose its reserve currency status if the UK votes to leave the European Union, ratings agency Standard and Poor’s (S&P) has said today, in the latest warning about a currency crisis after Brexit. Analysts said that governments would turn away from the pound as a store of value if Britain votes to break [...]
The pound’s looking sound as it gains even more ground

May 25, 2016

There's no doubt about it – the pound is tearing it up this week. Sterling smashed through another barrier this afternoon to stand at $1.4708, up another 0.5 per cent against the US dollar on the day and approaching one of its highest levels for the year. Read more: Sterling volatility just hit a seven-year high Against the euro, the quid [...]
Greek bailout deal: Details, reaction and next steps

May 25, 2016

At 2am this morning, the final 'i's were being dotted and 't's being crossed on the latest stage of the multi-billion euro bailout of Greece. It may have felt like a slog for the finance ministers gathered in Brussels, but they have long memories, and the events of last summer – endless nights, referendums, broken promises [...]
Calculator: How much does the UK contribute to the EU budget?

May 25, 2016

Statisticians have fired another shot in the war with Brexit campaigners over how much the UK contributes to the European Union – with an online calculator. The Office for National Statistics (ONS) has this morning published a guide outlining what they feel are responsible estimates of how much the UK pays into the EU, one of the key battlegrounds [...]
Calculator: How much does the UK contribute to the EU budget?

May 25, 2016

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By: Jake Cordell

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