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Forbes Names HSBC Largest Company in the UK

HSBC, the 4th largest bank group in the world in equity, is the largest company in the UK. Forbes magazine published its UK 40 list, naming the UK`s 40 largest companies. After HSBC is Royal Dutch, and then BP at 3rd place. 4th, 5th and 6th places are the three banks, Royal Bank of Scotland, Barclays and HBOS. While in 7th place is GlaxoSmithKline, the leading research-based pharmaceutical firm. At 10 is the insurance firm Aviva.

15 of the 40 companies listed are banks, insurance companies and other financial institutions, which also take up 6 out of the top 10 places. The highest ranked new entry in the list is the insurance company Standard Life, which is placed 26th. BT, the British telecom giant lost 4 places from last year and is now ranked 18th. The British-American Tobacco Company also dropped 4 places from 17th last year to 21st in this current issue. The beer producing giant, SAB, also lost 4 places and is now 32nd and so did J Sainsbury, the retailer that is now listed 32nd.

Xstrata, the mining company made its d?but appearance on the list together with, the real-estate development company, Land Securities, Scottish & Southern, the utilities company and the newly incorporated beauty product retailer, Alliance Boots. Among those to drop off the list are the insurance and other financial service providers, Alliance & Leicester, that occupied the 30th place last year, and the Hilton Group that was listed dead last, last year at 40, are no longer on the list.