- Gold Is in a 'Bubble' And Will Keep Going Higher: Gartman
- Millions May Have to Repay Part of Obama Tax Credit
- Madoff Auction: $4,750 for a Decoy Duck?
- Retail Sales Show Gain, But Manufacturing Gauge Slips
- Business Inventories Fall 0.4% in September
- Intel Plans to Increase Dividend 12.75%; Shares Gain
- Several Credit Card Companies See Default Rate Fall
- Fed Proposes Crackdown on Excessive Gift-Card Fees
- How Much Do You Know About Green?
- S&P to Hit 1,175 in the Short Term: Strategist
- Busch: US Health Care Bill a Concern for the Chinese
- Underwater Mortgages Could Sink Even Deeper
- My Market and Fed Outlook Now: BlackRock's Doll
- Farrell: The Market is Still Seeking Reassurance
- GM Cuts Losses—Plans Early Loan Repayment
- Schork Oil Outlook: Still Bearish Crude, But Skeptical
- Michelle Wie Wins, Now What?
- Taking a Page from Obama's Asia Agenda in Investing
MOST SHARED
- BlackRock: Central Banks To Be Net Buyers of Gold
- Weak US Housing Market Drags on Lowe's Profit
- Gold Is in a 'Bubble' And Will Keep Going Higher: Gartman
- EADS Cautious on Full-Year Forecast after Earnings Dip
- CNBC Video: Warren Buffett & Bill Gates - Keeping American Great
- Cisco Ups Tandberg Bid, Claims Over 40% Backing
- Signs of Stability, but 'We're Not All Satisfied': GM CEO
- Devon to Sell its Gulf, International Assets
- JP Morgan to Bid Over $3 Billion for Cazenove Stake
Text Size 
Controversial surveys and heated debates aside, by some tangible measures, London is clearly ahead of New York and has bragging rights as the world's financial capital.
"Closing Bell's" Maria Bartiromo traveled to London to see for herself and report back.
Take IPOs, for example. London exchanges totaled some $51.3 billion in new listings in 2006, versus $46.8 for U.S. exchanges. Thus far this year, the story is the same with London ahead of New York by $11.0 billion to $8.2 billion.
New York's share of the global IPO market went from 45.9% in 2001 to 17.7% in 2006, while London's grew from 10.7% to 19.3% lasyt year.
At a recent high-profile Washington gathering on competitiveness and the capital markets even NYSE Group CEO John Thain acknowledged the situation: "There are signs that we need to be concened," said Thain.
On the other hand, New York -- or U.S. based-companies -- still dominate the M&A business.
In our special coverage, Maria interviews Michael Mainelli, executive director of the U.K. consultancy Z/Yen, which conducted The Global Financial Centres Index survey for the City of London Corporation, one of two major studies on the subject, and happened to conclude that London is No 1, while Meliissa Lee reports on some important industry yardsticks.
Print
Email
- Where, what, how.
- Warren Buffett and Bill Gates spoke to Columbia students, and Buffett made the students a startling offer.
- For the chief of cable company Comcast, growth has been about making deals – generally very large deals.
- Some companies may start using insurance to shift carbon risk from their balance sheets to maybe... yours?
- The president and founder of Genesis Today wants to improve America’s health, and thinks Wal-Mart can help.
- If a terrible driver on your morning commute has you feeling like you want to scream, check this out.
Data is a real-time snapshot *Data is delayed at least 15 minutes