Brexit and the City: taking London's financial pulse
Brexit
The financial services sector  which accounts for about 12 percent of Britainâs economic output and pays more tax than any other industry  potentially has a lot to lose from the end of unfettered access to the EUâs post-Brexit market of 440 million people.
But it is particularly vulnerable to  a Brexit shock   because about a third of the transactions which take place on  its  exchanges and in  its  trading rooms involve clients in the EU.
This has led some politicians and economists to predict London will lose its pre-eminence as a financial center after Brexit  although supporters of leaving the EU say Britain will benefit over the long term by being able to set its own rules.
According to Savills  commercial property prices in the City of London have dropped more since the Brexit vote in June 2016 than at any point since 2009  the last year of the global financial crisis.
So far  Brexit seems to be having no impact here. The number of venues  such as bars and restaurants  applying for new licenses to sell alcohol in the City of London in the first eight months of 2017 is at a record high  data from the municipal local authority that runs the district shows.
âBusinesses are naturally hesitant to plan and execute growth hires due to the uncertainty around  Brexit  â said Hakan Enver  a director at Morgan McKinley.
The findings suggest that the first wave of job losses from  Brexit  may be at the lower end of estimates by industry lobby groups and firms  which could mean London will keep its place as the continentâs top finance center  at least in the short term.
The financial services sector  which accounts for about 12 percent of Britainâs economic output and pays more tax than any other industry  potentially has a lot to lose from the end of unfettered access to the EUâs post-Brexit market of 440 million people.
But it is particularly vulnerable to  a Brexit shock   because about a third of the transactions which take place on  its  exchanges and in  its  trading rooms involve clients in the EU.
This has led some politicians and economists to predict London will lose its pre-eminence as a financial center after  [TGT] although supporters of leaving the EU say Britain will benefit over the long term by being able to set its own rules.
According to Savills  commercial property prices in the City of London have dropped more since the  [TGT]  vote in June 2016 than at any point since 2009  the last year of the global financial crisis.
So far   [TGT]  seems to be having no impact here. The number of venues  such as bars and restaurants  applying for new licenses to sell alcohol in the City of London in the first eight months of 2017 is at a record high  data from the municipal local authority that runs the district shows.
âBusinesses are naturally hesitant to plan and execute growth hires due to the uncertainty around  Brexit  â said Hakan Enver  a director at Morgan McKinley.
The findings suggest that the first wave of job losses from  Brexit  may be at the lower end of estimates by industry lobby groups and firms  which could mean London will keep its place as the continentâs top finance center  at least in the short term.