Breaking up City of London would be 'huge mistake'

It is in interest of both the United Kingdom and the European Union to keep London's financial services industry broadly the way it is after Brexit, the UK's finance minister said Thursday (8 September).

“I believe that the structures that we have in London - with its very complex ecosystem of banks, funds, insurance companies, law firms, business services firms - would not and could not be replicated anywhere else,” chancellor of the exchequer Philip Hammond told members of the House o...