THE British government has announced over £1.25 billion ($1.69bn) in fresh investment from major US financial firms, including PayPal, Bank of America, Citigroup and S&P Global, ahead of a state visit by president Donald Trump.
The investment is expected to create 1,800 jobs across London, Edinburgh, Belfast and Manchester, and deepen transatlantic financial ties, the Department for Business and Trade said.
Bank of America will launch its first operation in Northern Ireland, creating up to 1,000 jobs in Belfast. Citigroup plans to invest £1.1bn across its UK operations, including a further commitment to growing its presence in Northern Ireland.
S&P Global will invest over £4 million in Manchester, supporting 200 permanent roles, while BlackRock is expected to allocate £7m to the UK market next year and has opened a new office in Edinburgh, nearly doubling its local workforce.
"These investments reflect the strength of our enduring 'golden corridor' with one of our closest trading partners," said Britain's trade minister, Peter Kyle.
Chancellor Rachel Reeves said the investments would "kickstart the growth that is essential to putting money in working people's pockets across every part of the UK."
The government said the deals line up £20bn in trade between Britain and the US.
Also on Saturday (13), the British Embassy in Washington said the countries were planning to sign a technology agreement in the coming days to bolster collaboration between their trillion-dollar tech sectors.
Trump is to fly to Britain on Tuesday (16) for his second state visit, which is expected to last three days.
(Reuters)
