London calling
Google’s announcement last week that it would invest £1bn (€1.1bn) in a new London HQ raised eyebrows across the continent. To many it doesn’t seem like the most opportune moment to invest in a country whose government is currently doing its best to convince us – and perhaps itself – that it has a coherent plan to leave the EU. What, then, to make of the news that four of China’s top banks are committing £300m (€349m) to finance the initial stage of a £1.7bn (€2bn) project that will convert an old dock in east London into a financial hub for European and Asian businesses? According to Bloomberg, Chinese companies are set to invest £4bn (€4.7bn) in the capital’s property market this year, adding a third to last year’s total. While only time will tell whether Google and China’s apparent confidence in the UK will pay dividends, it’s clear that, for now at least, the country’s capital is still an enticing place to set up shop.