Jamie Dimon has warned that any tax raid on banks by the new UK prime minister would have 'consequences', threatening JPMorgan's planned £3bn London office. The JPMorgan chief executive's comments come as the bank considers its investment in the capital, with the office project hanging in the balance.
In a separate corporate development, under-fire pollster YouGov has shortlisted a former boss of Kantar's operations in the Americas to become its next chief executive. The London-listed polling firm has been under pressure recently and is looking to a new leader to restore confidence.
“JPMorgan boss warns new PM against bank tax as YouGov shortlists CEO and Tate & Lyle faces pay revolt.”
Tate & Lyle, the FTSE 250 ingredients firm, faces a shareholder revolt over executive pay at its annual general meeting on Wednesday. The company has been under pressure from a leading shareholder advisory firm after failing to address investor concerns about its chief executive's salary. Shareholders could vote down the pay report, sending a strong signal to the board.
The three stories underscore the challenges facing UK businesses: from political risk over tax policy, to leadership changes at a major pollster, and investor activism over executive compensation. Whether the new prime minister heeds Dimon's warning or Tate & Lyle's shareholders rebel will be watched closely.