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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ONS rebuffs Leave £350m claim

May 25, 2016

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It’s official – chief financial officers are just “over-hyped” spreadsheet masters

May 25, 2016

Are you a chief financial officer (CFO)? Probably best to stop reading here. That’s because far from being the eyes, ears, brains and brawn of the operation, a heartbeat away from the top job and a driver of company strategy, a new survey has found CFOs are little more than “over-hyped" glorified spreadsheet wizzes. According to a [...]
National Audit Office investigation finds 3.2m people could have paid the wrong amount of tax

May 25, 2016

More than three million taxpayers could have paid the wrong amount of tax last year after staff cuts at HM Revenue and Customs (HMRC) saw the number of tax investigations double and people were left waiting nearly an hour to speak to the taxman. An investigation from the National Audit Office (NAO) found that the number of [...]
Institute for Fiscal Studies says Brexit could blow £40bn hole in public finances

May 25, 2016

Despite saving £8bn a year from no longer contributing to the EU budget, Brexit could put a multi-billion pound black hole in the public finances, the Institute for Fiscal Studies (IFS) has said. In a new report, published today, the number crunchers say that leaving the EU could result in the UK needing to find [...]
At the close: Traders looking up on bumper day for the FTSE 100

May 24, 2016

The markets were up today, the pound was up today and oil was up today, as buyers outnumbered sellers across the board. The FTSE 100 closed up 1.4 per cent at 6,219.26, with greens dominating screens, defying logic as economic data pointed to a looming US rate rise and UK public sector finances disappointed. Tesco was the [...]
US new home sales figures lay foundations for June rate hike

May 24, 2016

Sales of new homes in the United States jumped to their highest level since before the crisis, as the US economy picks up momentum in the second quarter. The number of newly-built homes sold – on an annual basis – hit 619,000, a jump of 16.6 per cent on last month and around 100,000 ahead of [...]
Long day and night ahead for Eurozone ministers as they discuss Greek debt crisis

May 24, 2016

One of the key players in the latest Greek bailout talks has warned there is a long way to go to strike a deal to unlock another €11bn (£8.4bn) of loans. The Slovakian finance minister, Peter Kazimir, said talks currently underway in Brussels between the Eurozone finance ministers could last all night, pointing to a host of [...]
Think tank warns lower levels of immigration will mean higher taxes

May 24, 2016

A post-Brexit fall in migration would hit growth across the UK and result in higher taxes for UK citizens, according to a new think tank report. If net migration from the European Union were to drop – as it might should the UK vote to leave the European Union – the National Institute of Economic [...]
Mark Carney and George Osborne have been asked to reveal the details of their Brexit discussions

May 24, 2016

Mark Carney has come under pressure to reveal details of his meetings with George Osborne in the run-up to the EU referendum. Jacob Rees-Mogg, the Conservative MP who sits on the Treasury Select Committee (TSC), asked the governor of the Bank of England whether he had notes, documents or minutes from his conversations with the [...]
EU referendum: Mark Carney clashes with Jacob Rees-Mogg over Brexit warning at Treasury Select Committee

May 24, 2016

Mark Carney has defended the Bank of England's Brexit analysis as he faced accusations of becoming "politically involved" with the EU referendum in a tense hearing in front of MPs. Conservative MP Jacob Rees-Mogg accused the chancellor of making unprecedented political interventions of the kind that would be impossible before a general election. Carney fired back in [...]

NBA and EuroLeague line up fresh talks over compromise deal

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Barbican Centre: the brutalist landmark weaving art into everyday London life.

By: Jake Cordell

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