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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Property market mushrooms in March as mortgage borrowing hits a post-crisis high

April 26, 2016

The property market was in full swing last month with yet another industry report showing mortgage lending shot up as investors piled in to beat the stamp duty surcharge which came into effect on 1 April. According to the British Bankers’ Association (BBA), banks and building societies dished out £17.1bn to people taking out mortgages in March – [...]
Whitbread’s expansion drive continues as Costa Coffee and Premier Inn sales jump

April 26, 2016

Costa Coffee and Premier Inn owner Whitbread has promised more expansion is on the way for the food, beverage and hotel chain as it posted improved profits in its full year results out this morning. Investors had clearly had their morning dose of caffeine as they bought up Whitbread with vigour on Tuesday morning, sending it up 2.97 per [...]
Profits collapse at oil giant BP, but shares rise as it avoids a loss in first quarter

April 26, 2016

Profits at BP fell by 79 per cent in the first quarter of the year, as the oil major's cost-cutting drive helped it beat analysts' expectations and maintain its dividend payout. BP's share price rose 4.5 per cent today to 376p this morning as investors were relieved that it stayed in the black. The oil giant said it would carry [...]
Oil prices start to climb on news of Saudi Arabia’s share offering in Aramco

April 26, 2016

Oil prices started Tuesday morning on the front foot, climbing closer to the $45 a barrel mark, following Saudi Arabia's announcement that it will sell shares in state owned oil giant, Aramco. Brent Crude climbed by 0.67 per cent to $44.78 before the European stock markets opened. Yesterday, the commodity started the week on the slide as investors [...]
UK economy slowdown expected to be confirmed this week with official GDP growth figures

April 25, 2016

The UK economy is expected to have recorded a marked slowdown in the first quarter of this year when official figures for GDP growth are released on Wednesday by the Office for National Statistics (ONS). The economy grew by 0.6 per cent in the final quarter of last year, though economists are suggesting that could have [...]
Low oil prices will lead to skills crisis for North Sea and mean UK does not realise full potential of oil and gas reserves

April 25, 2016

A leading industry expert has raised concerns that low oil prices could dampen the long-term prospects for the North Sea, create a generational skills crisis and lead to oil being left in the ground. Alan McCrae, a partner at PwC who heads up oil and gas tax, said that unless there was a “dramatic recovery [...]
The Bank of Japan could unleash a triple dose of monetary stimulus – negative interest rates, quantitative easing and paying banks to borrow more

April 25, 2016

The Bank of Japan (BoJ) looks geared to ramp up its reputation for out-of-the-box thinking when it meets later this week, unveiling an extra bout of monetary easing which could lead to it paying banks to borrow money. Japan's fight with deflation has been notorious. In 10 of the last 20 years prices have actually [...]
Manufacturing industry still stagnant, but does the latest CBI survey point to a recovery on the horizon?

April 25, 2016

The manufacturing industry had a mixed start to the year, though the latest CBI industrial trends survey, out today, showed tentative signs of a pick-up over the next few months and provided some grounds for optimism. Manufacturers reported output was stable over the first three months of 2016, while orders dipped slightly but employment picked up. [...]
Stable oil prices and a stock market surge mean the global economy is a little less likely to fall into recession

April 25, 2016

The world is no longer teetering on the brink of a full-blown recession thanks to a rally in global stock markets and surging commodity prices, according to a new report out today. Researchers at Oxford Economics said that there are slightly fewer alarm bells ringing over the health of the economy today than there were [...]
EU referendum: Pound hits a 10-week high against the US Dollar after President Barack Obama’s Brexit warning

April 25, 2016

Barack Obama’s visit to the UK may have annoyed Leave campaigners, but it did wonders for the pound which has hit a 10-week high on back of the President’s plea for Britain to stay in the European Union. The pound was trading at $1.4495 on Monday morning, up 0.64 per cent on the day and one per [...]

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By: Jake Cordell

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