The U.S. lost its top position as the world’s most developed financial system, according to a study from the World Economic Forum and economist Nouriel Roubini. The rankings list the U.K. first, Australia second and the U.S. third. London replaced New York as the world’s premier financial center, Roubini said. “London and the U.K. are looking ahead of New York and the United States,” he said. “Overall, both bank and nonbanking activities, in terms of [mergers and acquisitions], venture capital, broker-dealers, investment banking — at the margin suggests that there is a strength now in the U.K. and London.”

Article:  Telegraph (London)

   
   

         
         

This entry was posted on Friday, October 9th, 2009 at 5:15 am