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London , finance and Labour
jcfalkenberg
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0
12-2-2007 4:38 AM
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tags:
uk
,
city of london
,
labour
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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/cfaa9eec-fc7a-46b5-89b0-44b2fdd7d448/A927B5B3-48B3-4E08-A612-C16501720ADB/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.economist.com/PrinterFriendly.cfm?story_id=10208311" href="http://www.economist.com/PrinterFriendly.cfm?story_id=10208311" style="font-size: 11px;">www.economist.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.economist.com/PrinterFriendly.cfm?story_id=10208311"><div align="center"><img src="http://content9.clipmarks.com/blog_cache/www.economist.com/img/5B3A0256-036E-49DC-9856-45AF13811539" alt="" /></div></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.economist.com/PrinterFriendly.cfm?story_id=10208311"><FONT size="-1" face="verdana,geneva,arial,sans serif">Finance is more important to the economy in Britain than it is in other countries. What makes the difference is the City's role as a global financial hub, where leading banks and moneymen congregate to do business with one another. As a centre for international finance, London heads the league. Its foreign-exchange markets are huge, with over twice New York's share of trading; it dominates off-exchange dealing in derivatives; and last year it hosted the most new share issues, by value. London's specialist wholesale financial services and markets, which now extend well beyond the historic “square mile” round St Paul's Cathedral to encompass Canary Wharf in the east and Mayfair in the West End, make up a third of Britain's financial sector.</FONT></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.economist.com/PrinterFriendly.cfm?story_id=10208311">As the shockwaves ripple out from London's financial district, they could undermine the regional foundations of Labour's long electoral hegemony.</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;"> </td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/A927B5B3-48B3-4E08-A612-C16501720ADB/blog/" title="blog or email this clip"><img src="http://content6.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>
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