The City roundup video: BoE chief economist paints gloomy economic picture for UK

Video: Alex Lawson provides a run-down of the day's major news from the City

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The Independent Online

Don't miss out on the goings on in the business world, with our daily round-up of the biggest news from the City.

Britain’s economy is “writhing in both agony and ecstasy”, according to the Bank of England’s chief economist, Andy Haldane.

In a blunt pronouncement today Haldane said he was feeling “gloomier” over the global economy and that the much-vaunted interest rate hike could be a while yet.

Haldane said rates are moving onto the “back foot” and likened our economic position to England batsman Joe Root’s typical style of play.

Elsewhere, shares in Rolls-Royce fells sharply today as the engineering giant issued its second profit warning of the year.

It blamed the global, economic gloom for the surprise news as well as a tit-for-tat trade war between the EU and Russia over the Ukraine crisis.

And finally, fans of big beat electronica DJ Jon Carter will be pleased to find the 1990s favourite is in the money today.

He’s sold off his London live music pubs chain which includes bars from Shepherd’s Bush to Islington. Carter co-founded 580 Limited in 2004 having previously co-owned The Lock Tavern in Camden and has sold the pubs to Young & Co’s in a £10.4 million deal.