A coalition of industry groups plans to warn U.K. Chancellor George Osborne that a proposed European tax on financial transactions would hinder the economic recovery and damage London's status as a leading financial hub. "Some of those involved say it is the first time that such a broad constituency of City interests have joined forces on a major issue such as this, underlining the growing fears that a financial transactions tax (FTT) is now seen as inevitable," blogger Mark Kleinman writes.

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