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London Research Paper

1397 Words6 Pages

The only other financial district that is comparable to London’s is New York’s Wall Street. London is the financial center of Europe, and there is nothing else comparable in all of Europe. London’s financial district has expanded from the City of London to the Canary Wharf in the east and then to Mayfair in the west. The reason for that expansion was due to the creation of the Crossrail. The Crossrail was a transportation system that was created in Europe. From the Crossrail, the number of people transporting went up by over 10%. Also, with this new transportation, it supported over 200,000 new jobs. Canary Wharf is the new hotspot for a lot of new companies. It controls global foreign exchange, international bond and fund management operations. It is strongest in the suite of foreign exchange and bond trading. London’s financial district is responsible for 36.5% of GDP and it also generates 46% of the daily global revenue, which is truly astounding. …show more content…

This bank sets the United Kingdom’s monetary policies and issues multiple different banknotes. Secondly, the United Kingdom Stock Exchange is the largest in Europe and additionally is the fourth largest in the entire world. Another company within the financial district, London Bullion Market, which is one that is not too well-known. This company specializes in trading gold and silver. The fourth company researched is one we visited on this trip, Lloyd’s of London. As we learned during our visit there, it is the world’s largest insurance market. The final company worth mentioning is Barclays, which is seen throughout London. Barclays offers retail, commercial and investment banking. These are just some of the companies that make up the financial district and it is visible that each are very unique. Before Brexit, London’s financial district was operated under the European Union, which creates the uproar seen by the people of the United

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