``Putin has been pushing Russian companies to cut back on doing business with overseas banks and bring some of that business home.. London has suffered collateral damage. Takeovers involving Russian companies plunged 39% to $16.6 billion in the first half of 2014, Bloomberg reported. London being the "undisputed" center for Russian finance took much of the hit... The sanction spiral is having its effects. London is paying a price. Other cities too. Russia's economy, short term, has been hit and may be slithering into a recession. Some companies are squealing.''

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