is london or new york the financial capital of the world
Financial centre The Global Financial Centres Index is compiled semi-annually by the London-based British think-tank Z/Yen in conjunction with the Shenzen-based think-tank China Development Institute.[67] London has been the top-ranked centre from the index's inception in 2007, except from March 2014 to September 2015, when New York City led.[67]:7
Insurance Insurance is a means of protection from financial loss. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss.
Alonso Álvarez de Pineda
Manhattan Manhattan is often described as the cultural, financial, media, and entertainment capital of the world,[5][6][7][8][9] and the borough hosts the United Nations Headquarters.[10] Anchored by Wall Street in the Financial District of Lower Manhattan, New York City has been called both the most economically powerful city and the leading financial center of the world,[11][12][13][14][15] and Manhattan is home to the world's two largest stock exchanges by total market capitalization: the New York Stock Exchange and NASDAQ.[16][17] Many multinational media conglomerates are based in Manhattan, and the borough has been the setting for numerous books, films, and television shows. Manhattan is historically documented to have been purchased by Dutch colonists from Native Americans in 1626 for 60 guilders, which equals US$1050 today.[18][19] Manhattan real estate has since become among the most expensive in the world, with the value of Manhattan Island, including real estate, estimated to exceed US$3 trillion in 2013;[4][20] median residential property sale prices in Manhattan exceeded US$1,500 per square foot ($16,000/m2) as of 2017,[21] and Fifth Avenue in Midtown Manhattan commands the highest retail rents in the world, at US$3,000 per square foot ($32,000/m2) in 2017.[22]