The FT has a headline this morning that says:
JP Morgan ready to axe £1.5bn London HQ
I guess it was designed to make it look like another “banker quitting London story”.
Except it isn't. As the story continues, it’s:
opting instead for the former UK premises of Lehman Brothers.
In other words — bad news for construction, no doubt. But otherwise a misleading story giving the impression of bank instability in London when there is none.
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