London named top city for foreign investment

London remains the top city in the world for foreign investment, according to a report into the growth of emerging market economies.

London beat other established financial hubs, including Shanghai and Hong Kong which were second and third, in a report issued by consulting firm KPMG and the Greater Paris Investment Agency. The Global Cities Investment Monitor ranked Brazilian city Sao Paulo fourth, after a 160% increase in investment in the last two years, making it the city that has climbed the furthest up the rankings. Brazil also recently became the sixth-biggest economy in the world, overtaking the UK. The report said other cities in the BRIC group of nations also rose strongly. Brazil, Russia, India and ...