London Business School has risen from No. 8 in 1999 to take sole position of the top spot in the latest Financial Times' rankings of the world's top MBA schools. Last year, LBS shared the No. 1 spot with Wharton; this year, Penn's business school had to settle for No. 2. According to FT, the rise of LBS in the rankings "indicates a broader trend: the diminishing dominance of U.S.-based schools over the past decade." In 1999, 20 of the top 25 schools in the FT rankings were U.S. institutions compared to only 11 this year.
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