New York replaces London as world’s leading global financial centre, report says | The National

New York replaces London as world’s leading global financial centre, report says | The National:



"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 the 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, the 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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