Banking giant JP Morgan may scrap plans to build a new £1.5bn (€1.66bn) headquarters in London due to the British Government’s bonus tax and tougher City regulations, it was reported today.

More dire figures on the state of the UK's public finances today failed to derail the FTSE 100 Index's winning run despite a subdued day of trading.

A long-running battle to gain control of Docklands developer Canary Wharf concluded tonight when a bid from consortium Songbird was accepted.