Cycling Craze Sweeps London’s Financial District, FT Reports

A wave of enthusiasm for cycling is sweeping through London’s financial district as people swap Porsches for Pinarellos, the Financial Times reported.

Bike shops are springing up around the capital and cycling trips have increased by 81 percent since 2000, the newspaper said, citing data from Transport for London. Big institutions are responding by providing more bike storage. HSBC Holdings Plc last year doubled cycle-rack capacity at its Canary Wharf headquarters to 400, the Financial Times said.

A top-flight bike from makers such as Parlee of the U.S. or Italy’s Pinarello can cost more than $10,000, the newspaper said.

To contact the reporter on this story: Sherry Su in London at lsu23@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net

Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.