Location: The Tower Bridge, London, UK
The City of London is a historic financial district, home to both the Stock Exchange and the Bank of England. Modern corporate skyscrapers tower above the vestiges of medieval alleyways below. Affluent workers frequent its smart restaurants and bars. Tourists visit iconic, 17th-century St. Paul’s Cathedral, trace the city’s history at the Museum of London, and take in performances at the huge Barbican arts centre.
The City of London is known colloquially as the Square Mile, as it is 1.12 sq mi (716.80 acres; 2.90 km2) in area. Both the terms the City and the Square Mile are often used as metonyms for the UK's trading and financial services industries, which continue a notable history of being largely based in the City. The name London is now ordinarily used for a far wider area than just the City. London most often denotes the sprawling London metropolis, or the 32 Greater London boroughs, in addition to the City of London itself.
The local authority for the City, namely the City of London Corporation, is unique in the UK and has some unusual responsibilities for a local council, such as being the police authority. It is also unusual in having responsibilities and ownerships beyond its boundaries, e.g. Hampstead Heath. The corporation is headed by the Lord Mayor of the City of London (an office separate from, and much older than, the Mayor of London). The Lord Mayor, as of November 2023, is Michael Mainelli. The City is made up of 25 wards, with administration at the historic Guildhall. Other historic sites include St Paul's Cathedral, Royal Exchange, Mansion House, Old Bailey, and Smithfield Market. Although not within the City, the adjacent Tower of London, built to dominate the City, is part of its old defensive perimeter. The City has responsibility for five bridges across the Thames in its capacity as trustee of the Bridge House Estates: Blackfriars Bridge, Millennium Bridge, Southwark Bridge, London Bridge and Tower Bridge.
The City is a major business and financial centre, with both the Bank of England and the London Stock Exchange based in the City. Throughout the 19th century, the City was the world's primary business centre, and it continues to be a major meeting point for businesses. London came second (after New York) in the Global Financial Centres Index, published in 2022. The insurance industry is located in the eastern side of the city, around Lloyd's building. Since about the 1980s, a secondary financial district has existed outside the city, at Canary Wharf, 2.5 miles (4 km) to the east. The legal profession forms a major component of the northern and western sides of the City, especially in the Temple and Chancery Lane areas where the Inns of Court are located, of which two-Inner Temple and Middle Temple-fall within the City of London boundary.
The City has a resident population of 8,583 based on 2021 census figures, but over 500,000 are employed there (as of 2019) and some estimates put the number of workers in the City to be over 1 million. About three-quarters of the jobs in the City of London are in the financial, professional, and associated business services sectors.
Info.: en.com.wikipedia.org
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