JP Morgan could abandon plans for a £1.5bn headquarters in London, two newspapers report this morning.
Its chief executive, Jamie Dimon, is angry about the 50% tax on bonuses and Britain’s regulatory crackdown. One JP Morgan executive said no decision had been made on buildings based on the “super-tax” announcement announced by the Treasury along with the pre-Budget report.
The bank must make a decision soon on the Canary Wharf building. It has an option with Songbird Estates to pull out of the deal by the end of the year, a decision that The Times says is hanging in the balance.
29/12/09 Times 36 Daily Telegraph 27
