{"id":68948,"date":"2026-05-13T06:52:10","date_gmt":"2026-05-13T06:52:10","guid":{"rendered":"https:\/\/www.europesays.com\/people\/68948\/"},"modified":"2026-05-13T06:52:10","modified_gmt":"2026-05-13T06:52:10","slug":"americas-largest-bank-wades-into-labours-leadership-crisis","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/people\/68948\/","title":{"rendered":"America\u2019s largest bank wades into Labour\u2019s leadership crisis"},"content":{"rendered":"

The chair and CEO<\/a> of JPMorgan Chase has delivered his verdict on Keir Starmer<\/a>\u2019s mounting leadership troubles,<\/a> warning Labour against becoming \u201chostile to banks again\u201d.<\/p>\n

While Jamie Dimon<\/a> offered his support to the prime minister<\/a>, who has been facing intensifying pressure to resign, he threatened to pull a billion-dollar project <\/a>if Labour moved towards the left.<\/p>\n

Nearly 100 MPs have called on Sir Keir to resign or issue a timetable to step down amid the fallout, which has also seen four of his government ministers<\/a> quit after last week\u2019s disastrous local election results.<\/p>\n

\u201cI think Keir Starmer<\/a>\u2019s a very smart guy,\u201d Mr Dimon told Bloomberg TV on Tuesday. \u201cPolitics is really tough. They\u2019re in a bind because of debts and deficits \u2014 they inherited a lot of that. I think the world of Rachel Reeves… They\u2019ve got to be tough… I think they\u2019ve got to work closer with Europe.\u201d<\/p>\n

However, he warned against Labour lurching towards the left in a bid to regain votes and said that he could pull a $3bn investment in a new Canary Wharf skyscraper if it did.<\/p>\n

Plans to construct the building were agreed in November last year, when chancellor Rachel Reeves avoided imposing new taxes on the banking sector in her Budget.<\/p>\n

\"Jamie<\/p>\n

Jamie Dimon warned Labour against becoming ‘hostile to banks’ (AFP\/Getty)<\/p>\n

JPMorgan Chase<\/a>, recognised as one of the world\u2019s largest financial institutions, confirmed that the new structure will offer 3 million sq ft of floorspace and accommodate 12,000 employees.<\/p>\n

Asked if he would review his plans in light of the upheaval, he said: \u201cNot political instability, but if they become hostile to banks again, yes.\u201d<\/p>\n

\u201cI\u2019ve always objected to the fact we didn\u2019t damage the UK in any way, we paid probably $10bn [\u00a37.4bn] in extra taxes by now,\u201d he explained.<\/p>\n

\u201cI don\u2019t think that\u2019s right or fair. If that happens too much, we will reconsider.\u201d<\/p>\n

Safeguarding minister Jess Phillips, former minister for victims and tackling violence against women and girls, MP Alex Davies-Jones, junior minister Miatta Fahnbulleh and health minister Zubir Ahmed have all resigned and implored Sir Keir \u201cto act in the country\u2019s interest and set out a timetable for your departure.\u201d<\/p>\n

\"Starmer<\/p>\n

Starmer has been backed by over 100 Labour MPs, but still faces mounting leadership troubles (Getty)<\/p>\n

More than 90 Labour<\/a> MPs have called for a leadership change, while more than 100 have thrown their support behind the leader.<\/p>\n

US president Donald Trump<\/a> also shared his views on the matter when asked whether the prime minister<\/a> should stay in office or quit.<\/p>\n

\u201cThat\u2019s up to him, but I told him from day one, you\u2019re getting killed on energy,\u201d he said. \u201cYou\u2019re windmilling your country to death. Open up the North Sea. You have one of the greatest sources of energy in the world.\u201d<\/p>\n

Speaking in comments at the White House before flying to China on Tuesday he said that the UK needed to get \u201ctough on immigration\u201d.<\/p>\n","protected":false},"excerpt":{"rendered":"The chair and CEO of JPMorgan Chase has delivered his verdict on Keir Starmer\u2019s mounting leadership troubles, warning…\n","protected":false},"author":2,"featured_media":68949,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[164],"tags":[805,806,264,385,12058,381,4766],"class_list":{"0":"post-68948","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-jamie-dimon","8":"tag-jamie-dimon","9":"tag-jpmorgan-chase","10":"tag-keir-starmer","11":"tag-labour","12":"tag-labour-mps","13":"tag-prime-minister","14":"tag-sir-keir"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@people\/116565950030519115","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/people\/wp-json\/wp\/v2\/posts\/68948","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/people\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/people\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/people\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/people\/wp-json\/wp\/v2\/comments?post=68948"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/people\/wp-json\/wp\/v2\/posts\/68948\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/people\/wp-json\/wp\/v2\/media\/68949"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/people\/wp-json\/wp\/v2\/media?parent=68948"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/people\/wp-json\/wp\/v2\/categories?post=68948"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/people\/wp-json\/wp\/v2\/tags?post=68948"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}