The author is a Reuters Breakingviews columnist. The opinions expressed are her own.
The confab to anoint Donald Trump the GOP presidential candidate is full of controversy, but short on business support and cogent financial policy. Tesla boss Elon Musk unveils his master plan, to underwhelming response. And there are silver linings to recent ho-hum bank results.
The City of London will remain a financial hub for longer than Britain remains a member of the European Union. Talks over how the United Kingdom leaves the EU could end with extra regulation, higher costs and more capital requirements for the financial sector. But it’s unlikely that clients – principally, asset managers and non-financial companies – will move much. They are the ones who drive the so-called “cluster effect”.