How many sweeteners does JP Morgan need to build an office in Canary Wharf? | Nils Pratley

The way Rachel Reeves told it last November after her budget, it seemed to be a done deal that JP Morgan would build a 279,000 sq metre (3m sq ft) tower in Canary Wharf to serve as its European headquarters. The chancellor was “thrilled” the Wall Street bank had chosen London and hailed “a multibillion-pound vote of confidence in the UK economy and this government’s plans for growth”.And, to be fair to Reeves, Jamie Dimon, JP Morgan’s big boss, also presented the plan as final. “The UK government’s priority of economic growth has been a critical factor in helping us make this decision,” he said.One did not have to be overly cynical to wonder whether Dimon had waited to give the green light until Reeves had confirmed her tax-raising budget would not introduce fresh levies on banks

British Steel on track to be fully nationalised within weeks

British Steel is on track to be fully nationalised within weeks, the Guardian understands, a year after the government took over the daily running of the loss-making business from its Chinese owner.The steelmaker, which employs 3,500 people at its plant in Scunthorpe, was taken under government control last April amid fears that the owner Jingye was planning to shut down the site.British Steel operates the last two remaining blast furnaces in the UK but it is still economically controlled by the Chinese company, which bought it out of insolvency in early 2020.Ministers moved to designate the steel industry as vital to national security last week, which could clear the way for a nationalisation on those grounds, a source with knowledge of the matter said.They are understood to have offered £100m to Jingye for British Steel earlier this month but were rebuffed

‘Soon publishers won’t stand a chance’: literary world in struggle to detect AI-written books

Recently, the literary agent Kate Nash started noticing that the submission letters she was receiving from authors were becoming more thorough – albeit also more formulaic.“I took it as a rise in diligence,” she said. “I thought it was a good thing.”But then she had what she described as her eureka moment: the letter with the AI prompt right at the top. “It read: ‘Rewrite my query letter for Kate Nash including a comp to a writer she represents,’” she said

‘Our assumptions are broken’: how fraudulent church data revealed AI’s threat to polling

If you had been keeping tabs on the news about church attendance in Britain lately, you would be forgiven for thinking the country was in the midst of a Christian revival.Stories of swelling congregations, filled with young people returning to the flock, spurred on by everything from social media to a rise in bible sales appeared to be confirmed by a 2024 report from the Bible Society.Based on data collected by a YouGov survey, it claimed church attendance was increasing in England and Wales. The findings drove headlines, and the narrative was established.There was just one problem – the survey turned out to be based on “fraudulent” data and has been withdrawn

F1 must find answers to safety crisis after Bearman’s escape but there are no easy fixes | Giles Richards

Oliver Bearman emerging unhurt from a huge accident at the Japanese Grand Prix was considered a lucky escape. Formula One must think it is catching a break given there is a full month to work out how best to reduce the chance of such an incident happening again. F1 is going to need every minute of that time given the complexity of the problem.Bearman’s Haas car was travelling at 307kph (191mph) when he was forced to veer off‑track as he came up behind the relatively slow moving Alpine of Franco Colapinto. The closing speed between the two cars was 50kph, a frightening pace

Worcestershire overseas signing leaves one-day final early to catch flight to England

Worcestershire’s new overseas signing has arrived under a cloud after leaving a one-day final in South Africa in order to catch his flight to England. Beyers Swanepoel was playing for Lions against Titans on Sunday when, according to a report by Times Live, he set off for the airport “around the 43rd over” of the second innings without informing his teammates as to why. It was widely assumed he had picked up an injury.The all-rounder had bowled his full allocation of 10 overs, but because there was no injury, Lions were denied a substitute fielder for the final stages of the match. Titans went on to chase down the target with a ball to spare