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JPMorganChase announces intention to build landmark tower in London
JPMorganChase has announced its intention to build a new three-million square feet tower in London. This transformative project would enable additional capacity for the firm to grow by creating a world-class workplace for up to 12,000 employees, further strengthening London’ s position as a global financial hub. The plans are subject to a continuing positive business environment in the UK and the receipt of the necessary approvals and agreements at a national and local level.
as co-developer on the project, and the firm is being advised independently by Sir George Iacobescu.
Jamie Dimon, Chairman & CEO of JPMorganChase, said:“ This building will represent our lasting commitment to the city, the UK, our clients and our people. The UK government’ s priority of economic growth has been a critical factor in helping us make this decision.”
Serving as the firm’ s principal headquarters in the UK and its most significant presence in EMEA, the building would be situated on the Riverside development in Canary Wharf. The plans will provide employees and clients with a first-class working environment against a backdrop of uninterrupted views across the River Thames to central London.
Artist’ s impression: The view from JPMorganChase’ s Riverside office
The building is being designed by British architects, Foster + Partners, who also designed the firm’ s iconic global headquarters at 270 Park Avenue in New York City. Its construction is expected to take six years and will begin as soon as necessary approvals and agreements are in place. Canary Wharf Group is working
Global credit outlook for 2026 looks resilient, if uneven, report says
The sustained period of resilient global credit conditions looks set to continue in 2026, as economic growth holds up, supported in part by tech investments, S & P Global Ratings said in a report titled Global Credit Outlook 2026: Music Playing, Noise Rising. Active refinancing in 2025 has pushed out maturities for many borrowers, policy interest rates have decreased or are still doing so and investor appetite remains healthy.
“ This outlook is not uniform though,” said Alexandre Birry, Global Head of Credit Research and Insights.“ Performance across sectors and geographies will diverge, and the evolving geopolitical order may continue to introduce unexpected policy shifts.”
Lower inflation and resilient labour markets should continue to support consumer spending in most developed markets. We forecast stable global economic expansion of 3.2 % in 2026 as growth slows in the US and China, the eurozone continues to recover and emerging markets prolong their resilient streak.
Defaults will likely remain contained, even if above long-term averages. Healthy corporate earnings, the( so far) manageable effects of US tariffs and an expected continuing decline in policy interest rates will likely push down the US trailling-12-month
speculative-grade corporate default rate through September 2026 to 4 %, slightly below the current level. The report expects the rate in Europe to fall to 3.25 % from 3.7 %.
Meanwhile, as assumptions about AI’ s transformative power increasingly drive market valuations and investment volumes, creating a boom in data centre construction and adding to economic growth, these outlays may lead to overinvestment and pain later for credit conditions. x
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