JP Morgan could scrap £3bn London HQ if Starmer is replaced by PM ‘hostile to banks’

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The boss of JP Morgan, Jamie Dimon, has warned he could scrap plans to build a new £3bn UK headquarters in London if Keir Starmer is replaced by a new Labour prime minister who is hostile to banks.JP Morgan revealed plans last November to build the tower in Canary Wharf, hours after lenders were spared tax hikes in Rachel Reeves’s autumn budget following strong lobbying by the banking sector.Dimon said the US bank could look past the current political instability around Starmer’s future in No 10, which has roiled bond markets and sent domestic bank shares plunging.However, he warned that plans to build the bank’s new HQ – which will house more than half of its 23,000 UK staff – could be reversed if a new leader were to target lenders.He told Bloomberg TV during an interview in Paris on Tuesday that construction plans would be threatened “not [by] political instability, but if they become hostile to banks again”.

“I’ve always objected to the fact … we paid probably $10bn in extra taxes by now,” he added.“I don’t think that’s right or fair.If that happens too much we will reconsider.”It is understood that Dimon was referring to the UK’s decision to target banks with two sector-specific taxes as a result of the 2008 financial crisis: the bank surcharge, which is a tax on bank profits, and the bank levy, which applies to certain parts of lenders’ UK balance sheets.Dimon has publicly praised Starmer and Reeves in the past, and said on Tuesday that Starmer was a “smart guy”.

However, JP Morgan stressed in November that the Canary Wharf tower plan would depend on “a continuing positive business environment in the UK”.Questions were recently raised about the financial inducements the company has sought from the UK government to build the skyscraper.JP Morgan has requested a discount on its business rates, according to documents produced by Tower Hamlets council, despite having reported a net income of $57bn (£43bn) in 2025.The current political turmoil has ruffled feathers in other corners of the City, with one investment banking source telling the Guardian that stock market flotations “could be derailed” by a leadership fight.“If you’re planning for an IPO, for example, you need stability in the markets … There’s been talk of a number of IPOs coming down the track in the UK, and that gets derailed in situations like this.

”They added that there had been “quite positive signals from the City” about Reeves’ plans to generate growth, “so for anything to be derailed at this point would be damaging”.“The worst thing at the moment would be going through another messy leadership race,” the source said, adding that “we don’t want to see what we experienced with the previous government” – a reference to the Conservative party’s rotating cast of prime ministers.
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Joseph Fiennes on parenting, politics and banning children from social media: ‘Stand up, Keir, this is your kids’ generation’

He’s played English titans from William Shakespeare to Gareth Southgate, but what does the actor really think about the country today?The Guardian’s journalism is independent. We will earn a commission if you buy something through an affiliate link. Learn more.We are at a corner table in a breakfast place in Chelsea, Joseph Fiennes opposite me on the banquette with his jack russell, Noa. “Dog duty,” he says, apologetic

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From The Sheep Detectives to Rivals: your complete entertainment guide to the week ahead

Hugh Jackman and Emma Thompson star in a farmyard mystery, while the spirited bonkbuster returns for a smutty second outingThe Sheep DetectivesOut now Few can claim a writing career as varied as Craig Mazin, creator of TV’s Chernobyl, co-writer of several Scary Movie and The Hangover films, and co-creator of The Last of Us. Here, he turns his hand to a comedy-mystery about sheep, starring Hugh Jackman and Emma Thompson. Adapted from a novel by Leonie Swann.KokuhoOut now Two-time Japan Academy film prize best director winner Lee Sang-il directs this prestige adaptation of Shuichi Yoshida’s novel. It holds the record for the highest-grossing Japanese live-action release ever in Japan – an impressive feat for a nearly three-hour-long period drama set across five decades in the kabuki theatre world

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Historic Oxford cinema under threat as Oriel College refuses to extend lease

The survival of one of the UK’s oldest independent cinemas is under threat while its landlord, the University of Oxford’s Oriel College, refuses to extend its lease to allow what its director says are vital renovations.The Ultimate Picture Palace in east Oxford opened in 1911, and has entertained generations of students and residents, including the Oscar-winning director Sam Mendes. It sells tickets for its 106 seats through an old-fashioned box office window to patrons queueing on the street, and its screen is behind a manually opened curtain.After decades of instability, the UPP, as it is known by locals, recently became a community-owned business when more than 1,200 supporters raised funds to keep the cinema operating in the Grade II-listed building.But plans to secure its long-term future have been dashed by Oriel College’s reluctance to approve an extension that would allow further investments and renovations to take place

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Arthur Miller opens up about marriage to Marilyn Monroe in newly unearthed recordings

He was one of the greatest playwrights of the 20th century and she was one of the greatest actors. In newly unearthed recordings made over a period of nearly three decades, Arthur Miller opened up about his short-lived marriage to Marilyn Monroe, saying she wanted a husband who was a “father, lover, friend and agent,” and the child she longed for would have been an “additional problem”.In taped conversations with his friend and biographer Prof Christopher Bigsby, Miller said he had felt “death was always on her [Monroe’s] shoulder – always”. He had believed that if he did not “take care of her life” she would come to a “catastrophic end”.“One time I brought doctors to pump her out because she had swallowed enough stuff [drugs] to kill her,” he said

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Man charged over bomb hoax after Peter Kay show evacuated

A man has been charged over a bomb hoax after a live show by comedian Peter Kay in Birmingham was stopped when a “potentially suspicious bag” was found around the venue.The Utilita Arena Birmingham was evacuated and a 19-year-old man was taken into custody, West Midlands police said on Friday evening.On Saturday, the force said: “A man has been charged in connection with the events which led to the evacuation of the Utilita Arena in Birmingham last night.“Omar Majed, 19, has been charged with false communications relating to a bomb hoax,” a police spokesperson said. “Majed, of Washwood Heath, Birmingham, has been remanded to appear before magistrates in Birmingham on 4 May

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Royal Opera House calls for release of Georgian bass singer jailed over democracy protests

The Royal Opera House in London has urged Keir Starmer to intervene in the case of Paata Burchuladze, a world-renowned bass singer who has been imprisoned in Georgia since October on a charge of leading a coup against the country’s authoritarian leader.The 71-year-old has performed at the Royal Opera House and the Metropolitan Opera House in New York and collaborated with the likes of Luciano Pavarotti, Plácido Domingo and José Carreras. He was arrested after joining a protest outside the presidential palace in the Georgian capital, Tbilisi. Last week he was given a seven-year jail sentence which Burchuladze suggested to the court was equivalent to a life sentence given his age.Burchuladze became a rallying figure at nightly demonstrations against the government’s perceived pivot away from the west last autumn