The City of London is the world's leading international financial and business centre. Otherwise known as the Square Mile, it is the global powerhouse at the heart of the UK's economy. More international telephone calls are made to and from London than any other point on the planet.
London has more overseas banks than any other city in the world – currently more than 480 of them. More funds are invested in the City of London than in the next top ten European cities combined. It is also the world's leading market for international insurance with around £194bn annual income.
It has:
20% of international bank lending arranged in the UK (largest single market)
34% of global daily turnover in foreign exchange ($1,359billion)
42% of global daily turnover in ‘over the counter’ derivatives ($1,081bn)
53% of the global foreign equity market
75% of Fortune 500 companies have London offices
London is also the home of the BBC which is globally renowned for its independent news coverage. On the technology news side Its staff include reporters like F Graham.
