![]() The estimated $800 billion in valuation losses in those cities represents a 26% decline from 2019 levels. McKinsey looked most closely at nine “superstar” cities with a disproportionate share of the world’s urban gross domestic product, namely Beijing, Houston, London, New York, Paris, Munich, San Francisco, Shanghai and Tokyo. And those challenges could imperil the fiscal health of cities, many of which are already straining to address homelessness, transit needs, and other pressing issues.” “Urban real estate in superstar cities around the world faces substantial challenges. “Hybrid work is here to stay,” McKinsey said. HSBC is downsizing its headquarters and leaving London's Canary Wharf Photographer: Simon Dawson/Bloomberg via Getty Images Simon Dawson/Bloomberg/Getty Images to HSBC Holdings Plc have restarted cuts, taking gross losses announced this year to a combined 63,785 jobs, according to a Bloomberg analysis of filings. After a pause during lockdown, lenders from Citigroup Inc. If that’s not possible, place it at the footer of your website, blog or newsletter, or in the credits section.A sign sits on the HSBC Holdings Plc headquarters office building in the Canary Wharf business, financial and shopping district of London, U.K., on Friday, Sept. Choose the medium in which you are going to use the resource.Ĭopy this link and paste it wherever it’s visible, close to where you’re using the resource. We only ask you to add a small attribution link. How to attributeĬreating quality icons takes a lot of time and effort. For more information, please read our Term of use before using the content 5. It does not constitute any contractual obligations. This text is a summary for information only. Our license allows you to use the content:įor an unlimited number of times and perpetually
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