Catch up on the latest finance news in this weeks round-up…

 

EU doesn’t need the City of London, says chief Brexit negotiator

The EU does not need the City of London and that Theresa May is “pleading” for a special deal, Michel Barnier has said.

UK economic growth collapses to just 0.1% in first quarter of 2018

The Office for National Statistics has reported that the UK economy almost stalled in the first quarter of 2018. This was down from 0.4% registered in the final quarter of 2017.

Insurers warned of threat posed by fake data

A majority of insurers around the world are failing to ensure the data that feeds their artificial intelligence systems is accurate. This is potentially undermining business decisions.

 Proportion of mums in work ‘up 50% since mid-1970s’

The Institute of Fiscal Studies found that the proportion of working-age mothers has risen 50% in the past four decades. This rise is most noticeable among partners of higher-earning men.

Bank economist calls for counselling for primary school pupils

The chief economist at the Bank of England has backed counselling for primary school children, arguing that early mental health intervention could lead to a sixfold return on investment.