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JP Morgan's proposed 279,000 sq metre tower in Canary Wharf, which would serve as its European headquarters, is contingent on the UK government offering a business rates discount of up to 100% over a period of years. This potential sweetener could amount to hundreds of millions of pounds, as the site is estimated to generate up to £1.6bn in rates over 25 years.The development, which would house 12,000 JP Morgan staff, is part of a £3bn investment in London. The bank's CEO, Jamie Dimon, cited the UK government's priority on economic growth as a critical factor in the decision. However, documents from the local Tower Hamlets council reveal that JP Morgan is unlikely to progress with the project without clarity on the business rates incentive.The proposed discount has sparked controversy, as it would benefit a large corporation while potentially disadvantaging small businesses like pubs and restaurants that were recently hit with increased business rates in the budget. One proposal considers creating an enterprise zone around JP Morgan's development to enable time-limited business rates discounts.The negotiation highlights the significant influence of large corporations in securing favorable deals. Despite the potential economic benefits, including 7,800 construction-related jobs and an estimated £10bn contribution to the UK economy over six years, the deal raises questions about fairness and the cost to taxpayers.

Ed Miliband's stock is rising in the Labour Party as he fills a void left by Morgan McSweeney's departure, becoming a key figure in shaping the party's thinking. His influence has grown significantly in recent weeks, with some suggesting he is the real prime minister, calling the shots on key issues. Miliband's popularity among Labour members has increased, with him leapfrogging Angela Rayner as the membership's favourite cabinet minister. This surge in popularity has led to speculation that he could potentially win a leadership contest if one were to happen. The Labour Party's shift to the left, partly due to the Greens' victory in Gorton and Denton, has contributed to Miliband's rise. His reputation as a deep thinker and intellectual heavyweight has become increasingly valuable in a time when the party needs to address complex global challenges. Miliband's background in intellectual pursuits has prepared him for this role. Having cut his teeth in Gordon Brown's court, which was known for its intellectual voraciousness, Miliband has developed a unique ability to think through complex arguments from first principles. The current political landscape, marked by an energy crisis, potential recession, and rising populism, has highlighted the need for big ideas. Miliband's approach, which emphasizes thoughtful consideration and intellectual rigor, is seen as a welcome change from the party's previous focus on small, practical solutions. While Miliband is not infallible, his tendency to think years ahead of his time has been noted by those who have worked with him. His ideas, though not always successful, have the potential to sharpen the party's mental blades for the challenges ahead. In conclusion, Ed Miliband's rise to prominence is a reflection of the Labour Party's need for intellectual heavyweights who can provide big ideas and thoughtful leadership in a rapidly changing world.

When future generations examine television trends, they might be surprised by the glut of dramatisations about famous men caught in sex scandals. Jimmy Savile and Prince Andrew have both received multiple treatments, and now, with almost crushing inevitability, comes Channel 5's Power: The Downfall of Huw Edwards.Edwards, the high-profile BBC newsreader who resigned in 2024 before being charged with three counts of making indecent images of children, remains defensive. Prior to the broadcast, he released a statement claiming the drama is unlikely to convey reality while asserting: I am repelled by the idea that some people enjoy viewing indecent images of children.The drama earns its title by portraying a powerful man utilizing a queasy power dynamic to manipulate a teenage boy into fulfilling his sexual desires. While not the pinnacle of drama, the film succeeds in capturing a sickening feeling in the pit of your stomach.The main draw comes from its casting. Martin Clunes, known for roles that rely on his innate likability, creates an impressively accurate Edwards. He captures the fascinating mix of swagger and vulnerability, along with Edwards' distinctive accent and diction. Even during disturbing scenes, his performance never wavers.For much of the film, Edwards remains a figure of distant menace. Instead, this is really the story of Ryan (Osian Morgan), a teenage boy who finds himself being groomed by Edwards. The drama is constructed around first-hand interviews with Ryan (using a pseudonym to protect his identity), showing how Edwards validated his desire for connection before making the relationship transactional.Most powerfully, the film depicts the effect on Ryan's parents, as their dismay at his increasing waywardness first becomes anger directed at Edwards and then fear that they had become the bad guys.Still, the producers face challenges with a story that isn't visually interesting. Much of the relationship happened over text, meaning excessive time is spent watching people type or narrate messages. The film makes odd stylistic choices, including framing everything around the Queen's death and ending with Edwards reporting on his own charges.Edwards has promised to tell his side of the story, but as the reviewer notes, few will have the stomach to hear it when that day arrives.

Huw Marc Bennett's third album, Heol Las (Blue Street), takes traditional tunes from Glamorgan and submerges them in languid arrangements, touched by global influences and woozy doses of surf rock and sitar. The album thrums with a fitting beauty and energy, as it drifts from the industrial valleys to the Gower peninsula.The album features synthesiser-driven tracks such as Cân Gwasael (Wassail Song) and Yr Abaty (The Abbey), which sound like lost library-music theme tunes for spooky children's TV dramas. Other tracks, such as Y Fedwen (The Birch), are like sparkling radio-friendly nuggets of lost Sain Records psychedelia.Bennett's album also explores themes of Welsh heritage and identity, with Angela Christofilou adding lyrics inspired by Bennett's nieces being the first generation in his family to experience Welsh-medium education. The album is a revitalising and revelatory blend of Wales's past and future.Other notable albums out this month include Joshua Burnside's It's Not Going to Be Okay, Akkajee's Pölynkerääjä (The Dust Collector), and the Weaving's Dlúth & Inneach (Warp & Weft).