Interestingly not so much because London’s score had diminished, it was the same as last year, but because New York had improved its performance in key areas of finance.
This piece of news prompted the repetition of hairbrained ideas that will supposedly make London more appealing to international investors.
My favourite is the bizarre Edinburgh Reforms announced in December 2022. These propose a loosening of the current “ring-fencing” rules around deposits to give banks greater flexibility with depositors’ money (that translates to taking more risk for more return — maybe). Considering the recent collapse of Silicon Valley Bank and subsequent contagion fears, this just looks reckless to me.
A prime suspect for London’s woes are UK pension funds. At first glance, this doesn’t look misplaced. UK pension fund asset allocation has changed radically in the last 25 years or so. In 1997 they had a 53% weighting to UK equities, last year it was down to just 6%. A smoking gun.
Esta historia es de la edición April 04, 2023 de Evening Standard.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición April 04, 2023 de Evening Standard.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
Only £65k a month to live like Boy George
The Karma Chameleon singer listed his house for £17m in 2022, turning down offers. Now, he's looking for a tenant
Welcome to London, unicorn capital of Europe
We're flying far ahead of anywhere outside US for tech investment
Arteta's Arsenal evolution The next phase
Malik Ouzia and Simon Collings assess how the Spaniard will try to bring down Man City after he signs up for another three years with the title in his sights
Title fight catches fire after Gunners embrace dark side
Arsenal-City clashes take on a welcome edge of animosity
Whack the hippy gong-boho's back
It happened in Paris one grey February day. Sienna Miller was in an oversized, black leather jacket, lace-trimmed silk slip and clumpy great wedges.
There's a Starlink waiting in the sky... 7,000 in fact.Can Elon Musk stop them crashing to Earth?
As he was preparing his fields for seeding this year, Barry Sawchuk came across a giant slab of space debris. It had come from a spacecraft belonging to Elon Musk’s company, SpaceX.
'Politicians are only into power-mongering, corruption and cronyism'
We speak to alt revolutionary DEEPAK CHOPRA about biomarkers, his digital twin and his work to save humanity from disease
I've been waiting for a production of Godotthis brilliant all my life
Ben Whishaw and Lucian Msamati bring a potent, tragicomic chemistry to James Macdonald’s rich revival of Samuel Beckett’s challenging play.
Trust me, the Ritz is London's bestrestaurant
To whom we turn in moments of gloom and glory can be instructive, a filter of our truest friends. I've fallen out with the Ritz a couple of times, including once after a visit to the bar which didn’t warrant a review (“But you said it was lovely!” they said.
'Healing is a dirty word'
After four traumatic years, FKA twigs is back with a new album -and a thrilling metamorphosis