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The government will put the City’s interests at the forefront of its bid to renegotiate Britain’s relationship with the European Union, chancellor George Osborne said today. Writing exclusively for City A.M., the chancellor warns that red tape from Brussels poses a major danger to London’s status as a global financial hub. While Osborne [...]
Today marks a decade since City A.M. established itself as a leading paper for the City of London. Lots has changed over that time, not least the financial crisis of 2007 and 2008 that cost Britain billions in lost economic output. Back then, the City was seen as part of the problem. But since I [...]
Nobody begrudges the public sector owning a certain amount of art. However, the size of the collection is itself staggering. TaxPayers’ Alliance research released today shows that it consists of some eight million pieces, worth more than £3.5bn, with local authorities alone owning more than two million pieces. Most concerning, however, is that [...]
There's no escaping the market meltdown – even Saudi Arabia, which for years has revelled in its oil-rich economy, is having to consider austerity measures. Read more: Saudi Arabia's Tadawul stock exchange opens to foreign investors: Here are six companies you should watch According to anonymous sources who spoke to Bloomberg, the kingdom is [...]
Republican US presidential candidate and Ohio governor John Kasich recently argued that when he gets to the "pearly gates", what will matter is not how much he cut spending, but how much he helped the poor. Austerity is all about spending cuts, which hurt the poor and the vulnerable. This makes the UK government’s [...]
More than 40 academics and activists, including a former member of the Bank of England’s monetary policy committee (MPC), have signed a public letter supporting hard-left Labour leadership hopeful Jeremy Corbyn. In an attempt to counter mounting criticism that the Islington North MP is too extreme in his views, the signatories, including former MPC [...]
Any drop of 10 per cent or more in the stock market over a short space of time is known as a “correction”. The FTSE 100 is well into correction territory. The index of the 100 biggest London-listed firms ended 2014 just above 6,500. It then surged past 7,000 to hit a peak of 7,104 [...]
"Liveability" has fallen in cities across Europe, thanks to terror attacks and economic instability, figures published by the Economist showed today. The global liveability index ranked London at 53rd place out of the 140 cities studied. If you want a more pleasant environment, move to Melbourne instead. For the fifth year running, the Australian city [...]
Holger Schmieding is chief economist at Berenberg, says Yes The Eurozone’s recipe of tough love, whereby members can get help if they accept tough conditions, is working. This means repairing their budgets and improving their growth potential through labour market and other supply-side reforms. The medicine tastes bitter for a while, as Britain discovered when [...]
A cosy, dimly-lit Mayfair cocktail bar with a stage for live music is not the first place you would expect to find a Nobel prize winning economist on a Sunday morning. Firebrand American polemicist Joseph Stiglitz was in town during an eyebrow-raising period for the British left. But while many in Westminster are shocked by [...]
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