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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The UK stock market is an “over-leveraged disaster” according to Societe Generale

May 16, 2016

The UK equity market has been a "disaster for the best part of a decade" and is dangerously "over-leveraged" according to analysts at Societe Generale. The investment bank issued a hard-hitting note this afternoon warning that firms may be paying out dividends at an unsustainably high rate, and said this was coming at the expense of [...]
EU referendum: Fitch warns that protracted post-Brexit negotiations could trigger recession

May 16, 2016

The stakes of any post-Brexit negotiations were laid bare today in a new report from ratings agency Fitch, which assesses how the UK economy will perform if it were to secure different terms of exit after voting to leave the EU. In its worst scenario – in which Fitch predicts at least two years of political wrangling along with [...]
Ratings agency Fitch thinks Brexit will make Europe weaker, poorer and more populist

May 16, 2016

Europe could become weaker, poorer, more politically fractured and less secure if the UK votes to breakaway from the European Union, according to ratings agency Fitch. "An exit from the EU by the UK would weigh on the economies of other EU countries and increase political risks in Europe," the group said in a new report [...]
Business groups sound alarm bells as Treasury cannot rule out apprenticeship levy hike

May 16, 2016

The government is refusing to rule out a hike in the controversial apprenticeship levy beyond 2017, prompting a volley of fresh criticism from business groups who have already branded it a “payroll tax”. With George Osborne increasingly unlikely to hit his deficit-reduction targets, economists are warning that the chancellor could – yet again – target [...]
Number of high street shoppers falls by sharpest level in two years

May 16, 2016

The number of people visiting the high street dropped by its sharpest amount in over two years last month, as retailers said they faced a combination of bad weather and weak consumer confidence. Footfall at high street stores dropped by 4.7 per cent in April compared to the year before, according to the British Retail Consortium [...]
Profits at UK firms are at their lowest level since before the financial crisis

May 16, 2016

Profits at the UK’s largest companies slumped to their lowest level in a decade in 2015, with turmoil in the banking and commodities industries weighing heavily on corporate performance. New analysis from the Share Centre, released today, shows that the FTSE 350 – the UK’s largest 350 listed companies – posted combined pre-tax profits of £84bn last [...]
Brokers ICAP to become NEX Group later this year after Tullet Prebon deal

May 15, 2016

Trading firm ICAP is to change its name to NEX Group later this year, in an announcement set to be made on Monday, according to Sky News. ICAP is an electronic broker which specialises in wholesale trading for the likes of financial institutions rather than individuals. The name change signifies a shift in strategy for the [...]
Natalie Bennett to stand down as leader of the Green Party after four years

May 15, 2016

Natalie Bennett is to step down as leader of the Green Party, according to the Guardian, as she hailed her achievements in making the party a force in national politics and said it was time to move aside. Bennett, who has been leader of the party since 2012, said she always intended to stand as [...]
UK-bound Ryanair flight evacuated in Oslo after bomb hoax

May 15, 2016

A Ryanair flight which was supposed to be heading for the United Kingdom has been evacuated in Oslo following after a bomb hoax. Ryanair flight 3225 from Oslo Rygge to Manchester airport was scheduled to depart at 6.55pm local time and arrive in Manchester at 7.55pm, but after concerns were raised, the flight was evacuated after boarding and two passengers [...]
Inflation and wages set to falter this week as economy on pause until after EU referendum

May 15, 2016

A stuttering labour market and a dip in inflation are set to be revealed later this week, in mounting signs that the UK economy is struggling for momentum. Figures to be released by the Office for National Statistics (ONS) are set to show inflation falling back towards zero, the number of people in work to [...]

Lex Greensill seeks to throw out director ban

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By: Jake Cordell

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