Barclays is playing footsie with New York, no doubt trying to send a message to UK regulators that onerous capital requirements will push one of its most stories financial institutions offshore.
Mayor Mike, for his part, says he’d love to have Barclays headquartered in the Big Apple but he won’t buy the business through incentives…
Since financial services has been the biggest driver of the UK economy for the last 25 years, the loss of Barclays would be a big blow to the UK’s effort to emerge from slow-to-no growth…