London in Crisis: FTSE’s Largest Firm Moves to U.S

AstraZeneca has announced plans to shift its listing to the United States, a move that the UK Treasury estimates could cost up to £200 million annually in lost stamp duty revenues. The decision delivers a major blow to government finances and raises concerns about London’s future as a leading financial hub.

Source Financial Times

The pharmaceutical giant, the largest company in the FTSE 100 by market capitalization, will list its shares in New York while maintaining its presence in London and Stockholm. The move grants AstraZeneca broader access to U.S. investors but deprives the UK Treasury of significant tax income.

Analysts warn that AstraZeneca’s decision may encourage other major corporations to follow suit, fueling fears that London is gradually losing its competitiveness in the global capital markets.