American banker; JPMorgan Chase CEO since 2006
Britain’s housing market has cooled further, with Rightmove reporting a 2% drop in newly listed prices this August. London leads the decline while the North steadies, and investors are pushing prices lower as liquidity returns to the market.
Bankers warn that higher levies could drive investment and jobs away, while politicians face pressure to fund cost‑of‑living measures. Dimon cautions that an uncompetitive tax system risks capital flight as Healey prepares to deliver his Budget.
The Trump administration has mobilized a broad sanctions push to choke Iran’s economy, promising the toughest penalties in history. Officials say secondary sanctions will target countries and firms doing business with Tehran, with aims to isolate Iran and reopen the Strait of Hormuz as the war disrupts regional trade.
Bessent hosts the G20 finance meeting in Asheville, focusing on growth, debt, and monetary stability while Iran tensions and US-China frictions loom over talks, with officials signaling continued use of economic pressure to isolate Iran.
Trade unions and the new Labour leadership are pushing for higher taxes on banks’ profits to fund a social tariff that could lower energy bills for millions, as energy costs and inflation remain central to the policy agenda.
Chinese leader Xi Jinping has arrived in Washington for a state visit and a summit with U.S. President Donald Trump to discuss extending a trade truce, AI safety and the fate of Americans detained in China. Preparatory talks have produced limited deliverables; officials are expecting targeted, incremental agreements rather than a broad breakthrough.
Oil markets face renewed volatility as Iran-aligned attacks tighten supply routes. China has leveraged a large strategic reserve to weather disruption, while Saudi Arabia faces pipeline outages, prompting regional and global safeguards.
London’s fintech scene is facing tighter funding and pressure to demonstrate success. Firms set up over the past decade must now show results or pivot, with exit opportunities narrowing and investors recalibrating valuations.
Bank of America, Morgan Stanley and peers are delivering Q3 results amid a backdrop of higher interest rates and volatile markets. Analysts expect mixed outcomes on revenue and profits, with trading and investment banking performance in focus across the sector.
The BBC and Guardian report that the UK government is weighing an increase to the bank surcharge ahead of the 28 October budget. Ministers are considering reversing Hunt’s cuts and possibly returning the surcharge to 8%, which would raise billions in tax revenue while banks warn on competitiveness. Trade unions press for a larger levy amid record profits in the sector.
The Future Investment Initiative, often dubbed “Davos in the Desert,” has been postponed to 2027. Organizers say the decision aims to deliver the event’s expected scale, quality, and impact, with new dates to be announced soon. Attendees previously expected speakers from Goldman Sachs, Google, BlackRock and others. The postponement follows regional security strains, including Houthi attacks on Saudi Arabia.
The United Airlines chief executive has publicly backed a nationwide wealth tax and higher inheritance taxes, saying they are necessary to address wealth inequality. He has defended airline pricing practices, arguing fares reflect service value, and notes prices remain below 2019 levels after inflation. The remarks come as California contemplates a billionaire tax and as other tech leaders weigh in on tax policy.
Banks are tightening access to AI agents after reports of unauthorized agent activity, while preparing for a potential “day after” scenario in cyber risk planning. Executives warn that agents with user login data could act without explicit permission, prompting strict controls and read-only access options.