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Who does the City of London
really work for?
The City of London is a key part of the mechanism by which economic power gets transferred to major companies. The City handles 41% of all the world’s dealing in foreign exchange and nearly half of all interest rate derivative deals between banks and their clients. But while banks are at the centre of this network, they mainly act as the intermediaries for others. Big corporations are the drivers of these deals. They aim to boost their market power, especially through mergers and takeovers, and are helped by their access to financial markets.

Samsung and Apple provide 40% of the world’s smartphones and just five companies produce half the world’s beer. The situation is not so different for many other products people buy. The financial system facilitates this concentration of economic and social power, and it gives special favours to those in the rich countries.

Join Tony Norfield
in conversation with William Davies,
senior lecturer at Goldsmiths and author of The Limits of Neoliberalism and The Happiness Industry, to discuss The City and the Global Power of Finance.
The event is hosted by the Political Economy Research Centre at Goldsmiths.
6pm on 26th May.

Goldsmiths, University of London
New Cross
London SE14 6NW

The event is free and open to all.

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