October 2, 2007, 10:59 am Economic Threat From London? Not to Worry, Mayor Insists By Jennifer 8. Lee
Is New York losing ground to London as a global financial center?
That question has bedeviled local policymakers since consultants at McKinsey & Company released a report in January, which argued that the tough regulatory environment in the United States was driving private equity and initial public offerings across the Atlantic.
But this morning, in contrast to the alarmist tone of the McKinsey report, Mayor Michael R. Bloomberg — fresh from a visit to England, during which he stayed at his London apartment — presented an extremely cheerful report card on the state of New York's economy, in a keynote speech at a conference sponsored by The Economist.
The conference in Midtown, called "The Future of New York as the World's Business Hub," has drawn business leaders, government officials and academics from across the region.
The Economist has implicitly endorsed the idea of a Bloomberg presidency, and the United States news editor for the magazine, Matthew Bishop, introduced Mayor Bloomberg by saying: "He's the sort of guy that The Economist would love to have as president. Maybe one day. We would love to have you running the country, running the world." ...
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