The UK brought in a record value of foreign direct investment (FDI) in the financial year of 2014/15, according to UK Trade & Investment (UKTI).
The UKTI figures reveal that the UK attracted 1,988 FCI projects across the period – a 12% increase on the previous financial year.
The success of driving foreign investment has also created a large number of associated jobs in the UK. The report estimates around 85,000 new jobs were brought into the country – along with 23,000 being safeguarded.
The success has seen the UK’s FDI stock break £1 trillion. This is the highest in Europe and third globally behind the US and China.
Prime minister David Cameron said the figures show foreign investment in the UK is a “huge success story”.
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“Securing investment from overseas is a key part of our One Nation policies to create thousands of jobs, provide security and opportunities for working people throughout the UK,” he added.
Trade minister Francis Maude echoed the prime minister’s sentiments, calling 2014 an “exceptional year for UK inward investment”.
“We are proud to be bucking the global trend,” he continued. “The UK is a great place for entrepreneurs and corporations to put their energy, their ideas, their money and their talents to work.
“The government will continue to work hard to attract investment from across the globe to further strengthen the UK economy.”
JP Morgan still top investment bank
JP Morgan remains the top global investment bank with $7bn in revenues, according to a report by Coalition.
The 1Q2015 Global Investment Bank League Table sees JP Morgan continue to lead the way, with fellow US bank Goldman Sachs in second place and Deutsche Bank making up the top three.
Barclays is the only UK bank in the top 10 as it appears in eighth place. The list is dominated by US banks – with Bank of America Merrill Lynch also in the top five.
Global Equities rankings continued to be dominated by strong prime brokerage houses. Goldman Sachs lead the way with $1.9 billion of equity recorded in the first quarter of 2015.
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