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London is still the world’s leading financial center. It extended its lead over New York notwithstanding Britain’s looming departure from the EU, as a poll disclosed on Monday.
The UK’s departure from the EU bloc has given grounds to predict London might lose its pre-eminent status as a leading financial center. Nevertheless, there’re few signs of it taking place yet.
London has been successfully holding the first position, followed by New York, Hong Kong as well as Singapore in the Z/Yen global financial centers index, ranking up to 92 financial centers on such factors as infrastructure as well as access to high quality staff. As for New York, it found itself just 24 points behind London, the greatest gap between the two since the poll started in 2007.
Evidently, New York's ranking edged down 24 points from 2016, which is the largest dip among the top contenders, a sag the survey's authors told turned to be presumably due to concerns over US trade.
In October, the United Kingdom recorded a greater budget deficit than anticipated, as follows from first borrowing figures, since finance minister Philip Hammond pledged an end to austerity was over there…
Find out about the most important market movers from today's digest!
In November, UK factory orders managed to recover, although previously in October they sagged steeply…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
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