London Mayor Boris Johnson said the city can extend its lead as the financial capital of Europe despite the huge cost-cutting measures announced by Barclays today.
Speaking at the London Stock Exchange, Johnson said, "Obviously times have been tough for lots of banks for a long time, but it remains the case that the financial sector in London remains immensely strong".
"London is still far and away the dominant financial capital of Europe", he continued. "There are going to be shake-outs of individual banks as there have been. That does not mean that those banks won't go from strength to strength and London's lead won't be lengthened as a financial centre".
More top news
Two people have been pulled from the sea and are being treated by paramedics on an East Anglian beach.
Jeremy Corbyn has denied allegations of bullying saying "intimidation is not allowed" in the Labour party.
A gunman who killed nine people and at a Munich shopping centre was German-born and had no links with Islamic State, authorities say.