All articles tagged with #financial center
Switzerland remains the top destination for the wealthy despite voters rejecting a proposed tax on the ultra-rich, with the country maintaining its status as a leading financial hub amid increasing global competition for millionaires.
Donald Trump's election victory is expected to benefit Singapore's financial sector at the expense of Hong Kong, as U.S. funds may shift away from Hong Kong due to its close ties with China. Singapore's political stability and favorable tax regime have already attracted significant foreign capital, positioning it as a safe haven for U.S. and European investments. OCBC, one of Singapore's leading banks, is poised to capitalize on this shift, despite potential challenges from U.S.-China tensions under Trump's administration.
Tui, one of the world's largest tour operators, is considering leaving the London Stock Exchange due to a significant share of its trading migrating from the UK to Germany. The German company, which is dual-listed in London and Frankfurt, stated that a single listing in Frankfurt could centralize liquidity, provide a clearer investment profile, and reduce costs. The potential delisting would be another blow to the London Stock Exchange, which has seen companies move their primary listings to New York in recent years. Tui's decision will be discussed at the annual shareholder meeting in February.
Citadel founder Ken Griffin believes that Miami has the potential to surpass New York City as the world's financial center. Griffin, who recently moved to Miami, plans to establish Citadel's headquarters in a waterfront tower worth over $1 billion. While he acknowledges New York's status as a hub of talent and engagement, Griffin praises Florida's political environment for encouraging growth. He sees Miami as representing the future of America.
The UK's main opposition Labour party is targeting London's financial center as it aims to win power in the upcoming General Election. Labour is emphasizing its focus on economic growth and engaging the private sector, with a mission to achieve the highest growth in the G7. The party holds a significant lead over the ruling Conservative Party in polls, which has been damaged by scandals and market turmoil. Labour's approach marks a departure from the economic policies of former leader Jeremy Corbyn, focusing more on wealth creation and business engagement. The party aims to bring stability and certainty to the political system and rebuild Britain if it wins the 2024 General Election.