Foreign news: Brexit to create 5000 German bank jobs, Dimon's laundry list
Germany's foreign banking association expects as many as 5,000 new jobs will be created among its members over the next 12 to 18 months due to the UK's departure from the European Union, Reuters reports. The association told bankers at an event in Frankfurt earlier this week that almost 50 financial institutes had decided to boost their activities in Germany. Nevertheless, not everything would be completely set up and functioning right after Brexit, according to the non-German banks' lobby group. Meanwhile, Brexit chaos has resumed, with the UK Parliament voting on Thursday to delay a no-deal settlement. JPMorgan Chase boss Jamie Dimon has used his annual shareholders' letter to lay out a ten-point manifesto to restore America's fortunes, FT.com reports. Among his "laundry list of issues" in the 27,000 word missive were demands that policymakers reform a dysfunctional mortgage market and tackle "soaring healthcare costs". Other areas demanding attention include education, immigration, infrastructure, regulation, the tax system, litigation, the labour market and budgeting and planning. The banker also repeated warnings on the dangers of cyber security, which "may very well be the biggest threat to the US financial system".