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City of London’s potential is real threat to Wall Street

“London is a real competitor to New York,” said Michael Bloomberg, the outgoing New York mayor, on Sunday – and not for the first time.

With his pro-Wall Street policies under threat from a more leftwing successor, Mr Bloomberg has been warning that the other capital of global finance could seize more ground from its US rival.

“You’ve got to keep making your society open and you’ve got to keep providing opportunities,” he told CNN.

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