\n<\/p>\n
Rachel Reeves will host the bosses of top US and UK financial firms in Downing Street on Tuesday morning, as Donald Trump begins his official state visit.<\/p>\n
The meeting, which will be jointly hosted by US Treasury secretary, Scott Bessent, will be attended by senior figures from BlackRock, Barclays and Blackstone, who will have roundtable talks with officials hoping to highlight economic cooperation between the two countries.<\/p>\n
Trump\u2019s two-day visit will include a series of business events, including a state banquet with tech bosses and senior cabinet ministers on Wednesday evening. Trump will later travel to Chequers on Thursday for a business reception, working lunch and press conference with Keir Starmer.<\/p>\n
Meanwhile, ministers will be hoping that Tuesday\u2019s roundtable with financial bosses from the City and Wall Street will secure further foreign investments that can generate growth and positive headlines before a challenging budget in November.<\/p>\n
That is expected to include a \u00a3100bn investment from Blackstone, the alternative asset manager known for its private equity investments and which manages about $1.2tn (\u00a3880bn) worth of assets. It is due to confirm the investment out of the $500bn it is due to invest in Europe over the next decade.<\/p>\n
Sky News, which broke news of Blackstone\u2019s investment on Monday morning, said the funds would involve private equity buyouts as well as other forms of investment.<\/p>\n
Blackstone, which is led by Steve Schwarzman, is marking 25 years in London this year, having launched operations in the City in 2000. The office currently employs 650 people, and has about $100bn already invested in the UK. That includes real estate investments, including a datacentre in the north of England. Schwarzman told Bloomberg in June that \u201cthe UK government has been really helpful, really focused to make that happen\u201d.<\/p>\n
Blackstone\u2019s investment pledge will be welcome news, helping to offset challenging decisions in the upcoming autumn budget. Rumours are swirling that the chancellor is considering a number of potential tax increases \u2013 including on banks, property and landlords\u2019 rental income \u2013 in an effort to plug a shortfall of up to \u00a340bn in the public finances.<\/p>\n
The government has launched a fresh charm offensive to try to keep businesses onside, and Reeves last week pledged to shut down more regulators across the UK to encourage growth.<\/p>\n
Reeves \u2013 who in July claimed regulators were a \u201cboot on the neck\u201d of business \u2013 told private equity bosses that there was \u201cstill more to do\u201d, having already sacked the chair of the competitions watchdog, shut down the payments regulator and \u201cseverely\u201d constrained the Financial Ombudsman Service.<\/p>\n
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Sign up to Business Today<\/span><\/p>\n Get set for the working day \u2013 we’ll point you to all the business news and analysis you need every morning<\/p>\n Privacy Notice: <\/strong>Newsletters may contain information about charities, online ads, and content funded by outside parties. If you do not have an account, we will create a guest account for you on theguardian.com to send you this newsletter. You can complete full registration at any time. For more information about how we use your data see our Privacy Policy. We use Google reCaptcha to protect our website and the Google Privacy Policy and Terms of Service apply.<\/span><\/p>\n after newsletter promotion<\/p>\n \u201cI want to take out more regulators; there\u2019s still too many,\u201d Reeves told investment firms at the British Private Equity & Venture Capital Association summit in London.<\/p>\n The Treasury declined to comment.<\/p>\n","protected":false},"excerpt":{"rendered":" Rachel Reeves will host the bosses of top US and UK financial firms in Downing Street on Tuesday morning, as Donald Trump begins his official state visit. The meeting, which will be jointly hosted by US Treasury secretary, Scott Bessent, will be attended by senior figures from BlackRock, Barclays and Blackstone, who will have roundtable<\/p>\n","protected":false},"author":1,"featured_media":21587,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[48],"tags":[1471,2999,1790,661,6684,2655,2656,81,1774],"class_list":{"0":"post-21586","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-politics","8":"tag-begins","9":"tag-bosses","10":"tag-financial","11":"tag-firms","12":"tag-host","13":"tag-rachel","14":"tag-reeves","15":"tag-trump","16":"tag-visit"},"_links":{"self":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/posts\/21586","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=21586"}],"version-history":[{"count":0,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/posts\/21586\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/media\/21587"}],"wp:attachment":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=21586"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=21586"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=21586"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}