Lates News

According to the Financial Times, JPMorgan Chase CEO Jamie Dimon spoke with UK Chancellor of the Exchequer Jeremy Hunt last week via phone, warning him not to raise taxes on the banking industry. The UK government is currently considering a new tax on the banking sector ahead of the October budget, and Dimon indicated that a non-competitive tax regime could undermine London's position as a financial center, potentially leading to a loss of capital and financial jobs from the UK.