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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Credit Suisse warns shareholders to brace themselves for a bumpy 2016

April 29, 2016

The chief executive of Credit Suisse has said the bank’s performance has been “encouraging” after it posted a pre-tax loss of 2.4bn swiss francs (£1.6bn) in 2015, but warned that 2016 will be a “challenging" year. Tidjane Thiam, who moved to Credit Suisse last year, told shareholders at the group’s annual general meeting (AGM) today that he expects [...]
Eurozone grows by 0.6 per cent in first quarter – faster than US and UK

April 29, 2016

The Eurozone expanded at its fastest pace in a year during the first quarter of 2016, even as the single currency bloc fell back into deflation, allaying fears of secular stagnation across the continent. GDP grew by 0.6 per cent in the first three months of the year – faster than both the United States and the United Kingdom which [...]
Bank of England: Yes, there was a mortgage stampede in March

April 29, 2016

The final – and perhaps most definitive – proof that mortgage lending surged in March has been published by the Bank of England this morning, showing just how much tax changes distorted the property market. After a string of industry reports said that investors and landlords rushed to snap up houses before the three per cent [...]
At the open: FTSE 100 slips back after strong start to the week

April 29, 2016

The FTSE 100 is finishing the week on the back foot as a series of disappointing trading updates weighed on the markets this morning. The benchmark index sank by one per cent on the open and stood at 6,262 in the first hour of trading – wiping off gains made earlier in the week and putting the [...]
Passenger numbers and profits fly higher at IAG, but shares drop on Brussels fears

April 29, 2016

Profits soared at British Airways owner International Airlines Group (IAG) in the first three months of the year, but it wasn't enough to offset warnings of a slowdown over the next few months, which sent shares down four per cent The FTSE 100 airline giant, which was formed by the merger of British Airways with Spanish [...]
Profits slip at AstraZeneca as expiring patents take their toll

April 29, 2016

Profits have dropped at pharmaceutical giant AstraZeneca as the company ramped up its spending on research and development to counter upcoming expiring patents. The figures Net profit at AstraZeneca dropped by 12 per cent to $1.2bn in the three months to the end of March, bringing earnings per share in at $0.95, slightly below expectations of $0.96. Revenues [...]
US shares finish lower as economy looks less solid after weak GDP figures

April 29, 2016

Suddenly, things might not be looking so rosy for the US economy. Markets fell last night after GDP growth for the first quarter came in at a miserly 0.5 per cent – down from 1.4 per cent in the final three months of 2015, and well off expectations. Some poor earnings figures from its tech giants [...]
First-time home buyers come roaring back despite investor surge in March

April 29, 2016

The number of first-time buyers soared to its highest level in nearly two years last month, according to Your Move, in a new study which counters claims that a surge in buy to let investors has squeezed out homeowners. Homes bought by newbies rose by 48 per cent between February and March to a total [...]
Businesses want the government to pay them to become more energy efficient

April 29, 2016

Businesses want the government to pay them to make their premises energy efficient, according to the British Chambers of Commerce (BCC). In a new report, launched today, 36 per cent of businesses told the BCC the best thing that could be done to encourage them to spend on energy efficient technology and equipment would be to [...]
US GDP: Growth slows to 0.5 per cent in world’s largest economy

April 28, 2016

The world's largest economy grew by 0.5 per cent in the first three months of the year, according to official statistics released this afternoon. Financial turmoil and a dramatic fall in business investment meant GDP growth in the United States came in at its slowest rate in two years and missed economists' expectations of a [...]

Labour’s tax and wage squeeze risks youth jobs slowdown

UK Sport: We invest £32m in winter sports because Britain cares deeply

Ministry of Sound: ‘industry is on the up’ as it reveals brand new take on The Box

By: Jake Cordell

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