UK secures record US investment
The United Kingdom has secured a total of 150 billion pounds ($205 billion) in investment from the United States to coincide with US President Donald Trump's state visit.
The record-breaking investment package, which includes previously announced major commitments from tech giants Microsoft and Google, as well as private equity group Blackstone, is expected to create 7,600 "high-quality" jobs across the UK, according to a government news release.
Blackstone alone has pledged 90 billion pounds in new investment, adding to its existing commitment of 10 billion pounds for data center development.
Other notable commitments include Palantir's investment of 1.5 billion pounds that promises 350 new jobs, while Prologis pledged 3.9 billion pounds to expand its Cambridge Biomedical Campus operations.
The total package marks the largest investment commitment ever secured during a UK state visit, according to the government.
Broader talks
UK Prime Minister Keir Starmer and Trump were scheduled to meet with British and US investors at the prime minister's countryside retreat of Chequers on Thursday to discuss strengthening economic partnerships as part of broader talks, with tech investment, steel tariffs and potentially tricky talks over Ukraine and Gaza on the agenda.
The full package announcement comes at a crucial time for the UK government, following recent decisions by major pharmaceutical companies to redirect their investments from the UK to the US, reported the BBC.
Pharmaceutical giant GSK is investing 22 billion pounds in US research, development, and manufacturing facilities over the next five years.
Among other reciprocal investments, energy company BP is set to invest 3.6 billion pounds annually in US operations through 2028, expanding on its existing $160 billion investment that currently supports 30,000 US jobs.
The Financial Times reported on Wednesday that the UK's efforts to seek a reduction in US steel tariffs from 25 percent to zero have been suspended, despite earlier agreements this year.
