New York has overtaken London in the ranking of world financial centers, according to a study by the City of London administration.
London for the first time in history lost its sole leadership as the main financial center of the world. This was announced on Thursday, March 30, by the Financial Times, citing a report from the City of London administration.
According to him, London and New York scored 60 points each in the field of competitiveness. At the same time, London’s index rose by one point compared to last year, and New York – by two, allowing it to catch up with the British capital. Singapore ranked third with 51 points. The top five are Frankfurt (46) and Paris (43).
It has been noticed that more and more companies, including British ones, prefer to conduct their initial public offering (IPO) not in London, but in New York.
So, in early March, the largest developer of chips, the British company ARM, owned by the Japanese holding company SoftBank, announced its intention to conduct an IPO in the United States.
London continues to perform well in the areas of innovation, financial scale, sustainability, business infrastructure, attracting capable financiers and regulation.
In turn, New York scores highly for growth in technology investment, deal-making, and the issuance of sustainable financial instruments.
It was previously reported that the Bank of England raised the rate by 25 basis points to 4.25% per annum. Rate increases have occurred 11 times in a row.
Inflation in Britain at highest level in 30 years
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.