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London and New York lose ground to Asian rivals in finance rankings

London remains top of a ranking of global financial centres but saw its overall score slide on concerns about its competitiveness in the wake of Brexit.

The City kept its narrow lead over New York in the Global Financial Services Index, according to the report published by the Y/Zen Group in London and the China Development Institute in Shenzhen.

But both cities lost ground to rivals, with America’s main financial hub also slipping as financiers digested the uncertain implications of Donald Trump’s election as president.

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