[stickydink]

"The City" is a small area of London, in terms of business, the US equivalent of a financial district.

http://en.wikipedia.org/wiki/City_of_London

[elemeno]

It's the UK term for Wall Street. It doesn't have as much of the geographic connotation these days - working in Canary Wharf or a Mayfair hedge fund can all come under the phrase of 'working the in the city'

[drakeandrews]

The city is certainly a geographic area. It's the City of London, an entirely separate city with it's own government and everything.