LONDON: Prime Minister Keir Starmer has welcomed significant investment commitments from major US finance firms ahead of President Donald Trump’s state visit.
Leading American companies including PayPal, Citi Group, Bank of America and S&P Global will invest £1.25 billion ($1.7 billion) in the United Kingdom.
The investment package will create 1,800 new jobs across London, Edinburgh, Belfast and Manchester according to government announcements.
This development comes as Britain prepares to host President Trump for his second state visit beginning Tuesday.
Prime Minister Starmer stated that working with allies creates employment opportunities within the United Kingdom despite facing domestic political challenges.
The UK leader recently dismissed his Washington ambassador Peter Mandelson over connections to sex offender Jeffrey Epstein and lost his deputy in a separate tax scandal.
Starmer added on social media platform X that these investments confirm Britain’s position as a global finance leader.
Bank of America will establish its first Northern Ireland operation in Belfast, creating up to 1,000 new jobs through this initiative.
Citi Group will invest £1.1 billion across its UK operations while expanding its existing Northern Ireland presence where it already employs over 4,000 people.
The UK government described these twin investments as firmly establishing Belfast as a major technology powerhouse.
S&P Global will invest over £4 million into its Manchester offices, supporting 200 permanent positions and boosting its nearly 3,000-strong UK workforce.
PayPal will commit £150 million toward product innovations and growth initiatives across its British operations.
BlackRock opened a new Edinburgh office this week and plans to allocate £7 billion to UK markets next year while investing £500 million in enterprise data centres.
President Trump’s visit will include meetings with King Charles III at Windsor Castle before discussions with Prime Minister Starmer about strengthening transatlantic economic cooperation. – AFP
