London to lose title of world's finance capital, study warns

Rival hubs such as New York and Hong Kong will push beleaguered City into third place by 2015, CEBR forecasts London can expect to lose its crown as the leading global centre for high finance this year amid a barrage of City job cuts, falling bonuses and competition from rival hubs led by New York, Hong Kong and Singapore, according to a study. By 2015 the explosion in jobs in Hong Kong will have pushed the Square Mile into third place on a league table of international financial centres, says t...