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London is no longer considered the world's first financial center - now it shares this status with New York, writes “Interfax” with reference to information from the administration of the City of London.
In the ranking of world financial centers, the British capital and New York are in the same position. Both London and New York scored 60 on the competitiveness scale, followed immediately after by Singapore with 51, Frankfurt with 46 and Paris with 43.
The City administration intends to take steps to return London the title of world financial center, for which it has attracted specialists from the largest British banks and financial corporations.
London demonstrates strong performance in areas such as innovation, financial activity, financial stability, business infrastructure, but is inferior to New York in terms of investment, technology and volume of transactions.