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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Goodbye, €500 note. We hardly knew you

May 4, 2016

The €500 note will be withdrawn from circulation by the end of 2018, the European Central Bank (ECB) confirmed this afternoon. The violet-coloured note, dubbed the "Bin Laden" in parts of the Eurozone because of how rarely it is spotted in everyday life, is one of the highest value notes in circulation anywhere in the world. Its design features [...]
At the close: One-way traffic on the FTSE 100 as miners and supermarkets drag it down

May 4, 2016

Sunshine may be sweeping the capital, but the stock markets are still feeling down, as the FTSE 100 sunk to a four-week low. Closing down 1.2 per cent at 6,112.02, the FTSE 100 has now lost five per cent since it hit 2016 highs back in the middle of April. Miners dug themselves into a hole as [...]
New Labour Prime Ministers cause the biggest stock market swings

May 4, 2016

Live in 10 Downing Street and spend a bit of time in Whitney on the weekends? Then clear your diary and whip out the bunting – this Saturday it's time to celebrate. That's right, on 7 May it will have been one whole year since David Cameron won what was supposed to be the most tightly-fought [...]
EU referendum: Brexit would mean higher inflation and more quantitative easing

May 4, 2016

The Bank of England may have to extend its bond-buying quantitative easing programme if the UK votes to leave the European Union, an asset management firm has said today. Hermes Investment Management warned that Brexit would cause the pound to fall – potentially to around $1.20 – and growth would be hit, putting the Bank of England [...]
Do these five charts explain the productivity puzzle?

May 4, 2016

What do the UK’s jobs boom, the rise of self-employment, the plethora of start-ups, short-term investors, meetings, access to finance, employee wellbeing, the skills shortages, too much government and not enough government have in common? They’ve all been blamed for the UK’s productivity crisis. “Productivity” – a slightly woolly measure which basically divides total economic output by [...]
Anonymous hackers launch cyber attack on Bank of Greece … no money taken

May 4, 2016

The activist group Anonymous shut down the website of the Greek Central Bank yesterday, according to a report from Reuters, after it launched a distributed denial of service (DDOS) attack on the institution. “The attack lasted for a few minutes and was successfully tackled by the bank’s security systems,” an official said, adding that because the event took place on a public [...]
At the open: FTSE 100 falls as gold and oil lose their shine

May 4, 2016

There was no "dead cat bounce" on European markets this morning as they continued to crash, hitting three-week lows on the back of a smorgasbord of mediocre economic data. The FTSE 100 sunk 0.6 per cent in the first few hours of the day to stand at 6,150.48. The German Dax is now more than 100 [...]
Construction industry grows at its slowest pace in three years

May 4, 2016

The makers and manufacturers are marching a little slower than they once were – and a great deal slower than chancellor George Osborne would like. Fresh purchasing managers' index (PMI) figures for the construction sector out this morning showed that the building industry expanded at its slowest pace since June 2013 last month. That comes off [...]
The apprenticeship levy could be a disaster

May 4, 2016

Manufacturers have a strong track record and a vested interest in providing quality apprenticeships in the UK. Which is why it’s worth listening when they say that there are serious flaws in the Government’s new apprenticeship levy that could derail the scheme when it is rolled-out. In its current state the levy will be detrimental [...]
The EEF has clashed with the government over the flagship apprenticeship levy scheme

May 4, 2016

Manufacturers have called on the government to delay the introduction of the apprenticeship levy as just one per cent of employers said they backed the policy in its current form. Manufacturers’ body, the EEF, has today ramped up its warnings over the levy, saying that the government faces a “looming car crash” after it found [...]

Starmer not told Mandelson was denied security clearance

Trump-hating Fifa World Cup fans should have costs paid if denied visa

Avenue Q is wonderfully lawless chaos (with very rude puppets)

By: Jake Cordell

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