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Economy

xchrom

(108,903 posts)

33. New York takes London's crown as top financial centre - survey

Reply to Demeter (Original post)

Sun Mar 16, 2014, 07:50 AM

Mar 2014

http://uk.reuters.com/article/2014/03/15/uk-global-financial-centres-idUKBREA2E0KQ20140315

(Reuters) - New York has knocked London from its position as the world's leading global financial centre after seven years, according to the Global Financial Centres Index compiled by London-based consultancy Z/Yen.

London slipped from the top of the global rankings, scoring 784 against 786 for New York, because a series of own goals had tarnished its reputation, the report said.

"London sees the largest fall in the top 50 centres," said Mark Yeandle, report author and associate director of Z/Yen, in a statement on the group's website.

"This seems to be based on a number of factors including ... uncertainty over Europe, the perception that London might be becoming less welcoming to foreigners and perceived levels of market manipulation."

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