The UK is ranked the world's leading financial centre
In a surprise development the World Economic Forum (WEF) has today released a report stating that the UK has overtaken the United States as the world's leading financial centre. This comes at a time when the UK is under significant pressure from not only an economic standpoint but also from EU regulators who appear determined to wrestle control of the city. However, for the UK to come out top of the 55 most financially developed countries is certainly a feather in the UK cap although there are some who are sceptical of the claims.
The same report also detailed a league table of financial stability rankings with the UK at number 37 behind the likes of Mexico, Panama and only just above Venezuela. Norway, Switzerland, Hong Kong and Chile were top of the league with regards to financial stability with Argentina, Kazakhstan and Ukraine rooted at the bottom of the league table. While there is no doubt that the city of London is well known around the world and has a reputation few others can match, many believe that recent changes on the regulatory front and intervention by EU regulators will put London's standing amongst worldwide financial markets at risk.
Share this..
Related stories
George Osborne under attack for stating that the pound is under pressure
Shadow chancellor George Osborne is today under attack from Labour for suggesting that Gordon Brown's economic policies have caused the recent run on sterling. The situation bears strange similarities to Alistair Darling's comments about the collapse of the Icelandic economy although the problem is that the run on the pound is actually the fault of the UK government.
Gordon Brown ha...
Fathers 'putting careers on hold'
A new survey has suggested that fathers in the UK are putting their careers on hold in order to care for their children.The ING Direct study claims that 43 per cent of dads have 'put the brakes on' their careers and are turning down promotions and over-time.Just over 40 per cent of fathers (42 per cent) have even changed their jobs in order to work fewer hours and make time for their childcare res...
Read MoreCar insurance set to rocket in 2009
With news that car insurance premiums rose by 11% in 2008 the AA has put drivers on red alert for a similar rise in 2009. There would appear to be a number of issues which have come into play over the last 12 months and which could continue for some time to come. The average annual premium for comprehensive car insurance increased by 1.3% in the first three months of 2009 and now stands at just ov...
Read MoreVolcanic ash causes chaos in worldwide travel market
Ash from a volcano in Iceland is causing no end of problems within the worldwide travel network with airlines grounded in the UK and many other countries. It is expected that the massive cloud of ash, some of which is actually settling in northern Scotland, will take at least two more days to clear and it is unlikely that airline travel in the UK will return to normal until next week. There a...
Read MoreWhy is the SFO suddenly in the headlines?
Even though the Serious Fraud Office (SFO) has been a very influential agency in the UK for some time, we have seen more references to the SFO and ongoing cases over the last six months than we have possibly seen over the last six years. Suddenly it seems that the SFO has "got its act together" and is now pursuing a number of industries and individual companies with regards to alleged irregulariti...
Read More