Financial centres: unprofitable centre

Three years ago, New York authorities worried that London might steal its crown as world financial capital. That title now looks much less desirable. Back then, cities and countries vied with each other to lure the jobs and glamour of this fast-growing industry. The tools included regulation, taxes, language, education and infrastructure.The traditional contestants – New York and London – fought for the top spot. New and old centres, from Frankfurt to Dubai and Singapore to Zug, Switzerland, vi...