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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Former EU adviser says refugee crisis could boost growth and wages in ailing European economies

May 18, 2016

The refugee crisis has sparked widespread political strife throughout Europe, with governments struggling to agree on how to manage the influx. But now a former economic adviser to Jose Manuel Barroso says that the wave of migration could provide a €127bn (£99bn) shot in the arm to the continent’s economy. With 1.3m refugees expected to arrive [...]
Bank of mum and dad facing a funding crisis as children rack up £6,000 in withdrawals

May 18, 2016

Parents are dipping into savings, eating up their pay packets and even taking out credit cards to provide assistance to their supposedly financially independent children. Over half of all parents have been tapped up by children over the age of 18 for financial assistance from the “bank of mum and dad”, according to a new [...]
Checking out: Are the Burberry short-sellers short-sighted?

May 17, 2016

Investors are not feeling too hot about trenchcoat-maker Burberry today, with its stock among the most heavily shorted ahead of eagerly anticipated results out tomorrow morning. According to financial data providers, Markit, around seven per cent of the company's shares were out on loan to those hoping to cash in from a short-term fall in [...]
US inflation jumps to three-year high as gas prices soar

May 17, 2016

Prices in the United States jumped by their highest amount in more than three years during April, as inflation hit 0.4 per cent, putting more steam behind the chances of further interest rate rises this year. The consumer prices index moved up from 0.1 per cent in March, as energy prices increased considerably during the [...]
Central banks aren’t out of antidotes, but beware the dangerous tonic of helicopter money

May 17, 2016

After years of unconventional monetary policy but stubbornly low inflation, investors are asking whether central banks are out of ammunition. But central banks are not soldiers fighting a war; they are doctors trying to cure a disease. As traditional medicines fail, they try ever more experimental cures. After the standard dose of rate cuts proved [...]
ECB chief economist Peter Praet warns of banking “profitability shock”

May 17, 2016

Eurozone banks should brace themselves for a profitability crisis, the chief economist of the European Central Bank (ECB) has warned today, predicting that the worst is far from over for the industry. "We have in the sector a severe profitability shock," ECB executive board member Peter Praet told a panel in Brussels this morning. Banks in the [...]
Inflation rate falls to 0.3 per cent in April due to cheaper clothes and air fares

May 17, 2016

Inflation was running at 0.3 per cent in April, figures out this morning from the Office for National Statistics (ONS) have shown, denting the trend of slow-and-steady price rises since the start of the year. The headline consumer prices index (CPI) rate fell back from 0.5 per cent in March and is now in line with figures [...]
Tale of two cities: Winners and losers in the London housing market

May 17, 2016

House prices in some of prime central London’s most expensive postcodes have plummeted by more than 10 per cent, while further out of town prices have powered ahead, resulting in a new two-speed market in the capital. The sea-change, caused by factors as diverse as stamp duty reforms and an economic slowdown in China, is creating [...]
British Airways could be about to charge for food on short-haul flights

May 16, 2016

British Airways looks set to cave in to the pressure from low-cost airlines and start charging economy passengers for in-flight meals on its short-haul flights, according to reports this afternoon. The flag-carrier has clutched on to its in-flight perks as a key point of differentiation with the likes of Easyjet and Ryanair after the budget [...]
“Persistent” poverty rates show UK citizens among the least likely in the EU to be trapped in poverty

May 16, 2016

People living in the UK are among the least likely in the European Union to be trapped in poverty, new numbers from the Office for National Statistics (ONS) released today have shown. Between 2011 and 2014, 6.5 per cent of the UK’s population were classified as being in “persistent poverty”. The number – which equates to [...]

Lex Greensill seeks to throw out director ban

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By: Jake Cordell

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