US Top News and Analysis | Jamie Dimon warns JP Morgan may rethink new London office if 'very smart' Starmer is ousted as UK PM
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JP Morgan chief executive Jamie Dimon told Bloomberg that the bank could reconsider its planned multi‑billion‑dollar, three‑million‑square‑foot office tower in London’s Canary Wharf if UK Prime Minister Keir Starmer were ousted, although the firm’s overall strategy would remain unchanged; the project, announced last year and conditional on a positive business environment and necessary approvals, would house up to 12,000 staff, contribute an estimated £9.9 billion to the UK economy over six years, and has already seen JP Morgan pay about $10 billion in additional taxes. Dimon criticised the tax burden, praised Starmer and finance minister Rachel Reeves for their handling of debt, deficits and post‑Brexit relations with the EU, and noted that a government hostile to banks might force a rethink of the London investment, while markets have reacted with mixed movements in gilts amid the political turbulence.
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