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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.

Donald Trump has issued a stark warning to Iran, threatening to "obliterate" its power stations and fresh water plants if a peace deal is not reached soon. This comes as the US and Israel's joint war against Iran enters its second month, with Tehran remaining defiant in the face of US peace proposals.The conflict has already had significant repercussions, including a record monthly rise in oil prices and concerns over a potential US ground operation to seize Kharg Island. Trump's threat to destroy civilian infrastructure, such as power and water facilities, has been condemned by human rights groups as a potential war crime.The White House has also suggested that Arab countries may be asked to help foot the bill for the war, adding a new dimension to the conflict. "It's an idea that I know that he has," said White House press secretary Karoline Leavitt.International pressure is mounting, with Spain closing its airspace to US planes involved in the conflict and the UK's prime minister reiterating that "this is not our war and we are not going to get dragged into it". Egypt's president, Abdel Fattah al-Sisi, has called on Trump to end the war, warning that "no one will be able to stop the war in our region".The conflict threatens to plunge the global economy into recession and trigger shortages of food and pharmaceuticals. The International Monetary Fund has warned that "all roads lead to higher prices and slower growth worldwide" if the conflict continues.

The Financial Conduct Authority (FCA) will unveil the final terms of its compensation scheme for the UK car finance scandal on Monday, providing clarity for millions of drivers who may be eligible for payouts. The scheme, which is expected to cost around £11bn, will offer redress to drivers who were overcharged for loans as a result of controversial commission payments between lenders and car dealers.The FCA's proposal, outlined over 360 pages, suggests that 14m motor finance agreements will be affected, with individual compensation payouts averaging around £700. However, some groups have argued that this amount is too low, and that consumers could be due £1,500 or more.The car loan providers most impacted by the scheme include Lloyds Banking Group, Santander, Barclays, and Close Brothers. These companies have been lobbying against the FCA's proposals, arguing that they are too generous and could disrupt the car finance market.The FCA's scheme aims to draw a line under the car finance scandal, but there are concerns that it could be circumvented or delayed by aggrieved parties. Some lenders and claims law firms have signaled that they may consider legal action against the FCA's final proposals.

Pakistan has become a key player in diplomatic efforts to end the conflict between the US and Iran, hosting a meeting of foreign ministers from Turkey, Saudi Arabia, Egypt, and Pakistan in Islamabad. The two-day consultations aim to align regional positions and prepare the ground for possible direct US-Iran engagement, with Pakistan acting as the central interlocutor between the two nations. Pakistani Prime Minister Shehbaz Sharif held a 90-minute phone call with Iranian President Masoud Pezeshkian, focusing on de-escalation and trust-building measures. Pezeshkian stressed that confidence-building measures are required before Tehran can consider direct dialogue. The Islamabad meeting is not a negotiation, but rather preparation for potential talks. Its goals are to consolidate regional backing for de-escalation and harmonize positions on ceasefire sequencing. Iran has transmitted its response to the US proposal via Islamabad, with demands including an end to hostilities, reparations for damages, guarantees against future attacks, and recognition of its strategic leverage in the Strait of Hormuz. The next 48 to 72 hours will determine whether this diplomatic push produces a meeting between US and Iranian officials. If successful, it could provide the political cover both Washington and Tehran need to enter talks without appearing to concede.

Islamabad has re‑emerged as a pivotal conduit between Washington and Tehran, delivering a U.S. 15‑point cease‑fire proposal on March 25, 2026, as the US‑Israeli campaign against Iran enters its second month. Foreign Minister Ishaq Dar confirmed that Pakistan is transmitting the proposal, with Turkey and Egypt offering additional diplomatic backing. Chief US negotiator Steve Witkoff later verified Pakistan’s role as a messenger, and President Donald Trump announced a 10‑day pause on planned strikes against Iranian power plants, citing a request from Tehran. Iran has denied direct talks, yet the pause marks the second deferment of Trump’s original threat, underscoring Pakistan’s function as a key diplomatic facilitator in a high‑stakes conflict. The pattern is not new. In August 1969, President Nixon tasked Pakistan’s military ruler Yahya Khan with opening a channel to Beijing. Two years later, a secret flight carried U.S. Secretary of State Henry Kissinger from Islamabad to China, paving the way for Nixon’s historic 1972 visit and the eventual U.S. recognition of the People’s Republic of China. Analysts note that Pakistan’s unique position—maintaining working ties with both Washington and Beijing—made it the only trusted intermediary capable of handling such a sensitive mission, a view echoed by former ambassador Masood Khan. Beyond the Cold‑War episode, Pakistan has repeatedly leveraged its geography and Muslim‑world connections. It served as the primary conduit for U.S., Saudi and Chinese support to the Afghan mujahideen in the 1980s, helped broker the 1988 Geneva Accords that ended the Soviet occupation, and hosted the 2015 Murree talks between the Taliban and the Afghan government. During the 2020 Doha Agreement, Pakistani pressure on the Taliban was cited by U.S. envoy Zalmay Khalilzad as instrumental, though the rapid U.S. withdrawal and subsequent Taliban takeover left Pakistan’s long‑term interests ambiguous. Efforts to mediate Saudi‑Iran tensions have been less fruitful. In 2016, Prime Minister Nawaz Sharif’s shuttle diplomacy failed to produce a formal agreement, and a 2019 outreach by Prime Minister Imran Khan, prompted by President Trump, yielded no concrete outcome. When China facilitated the 2023 Saudi‑Iran rapprochement, Pakistan’s foreign office claimed it had laid the groundwork, but analysts still view the result as a Chinese‑led success. Pakistan’s brief 2005 overture to Israel, led by Foreign Minister Khurshid Mahmud Kasuri, similarly collapsed under domestic opposition, illustrating the limits of its diplomatic reach when internal politics intervene. Since the launch of Operation Epic Fury—the US‑Israeli air campaign that began in late February 2026 and resulted in the death of Supreme Leader Ali Khamenei—Pakistan’s leadership has intensified back‑channel activity. Prime Minister Shehbaz Sharif has held multiple calls with Iranian President Masoud Pezeshkian, while Army Chief Field Marshal Asim Munir spoke directly with President Trump. Both officials have also visited Saudi Arabia, where Pakistan signed a mutual defence pact in September 2025. Former ambassador Naghmana Hashmi observes that Pakistan’s diplomatic narrative is often eclipsed by conflict, yet a “quieter, more consistent thread” persists: the state’s effort to turn its strategic location and Muslim‑world ties into a lever for peace. Whether the current cease‑fire talks will yield a durable settlement remains uncertain. What is clear, however, is that Pakistan enjoys a rare blend of trust from Washington, Tehran and Gulf capitals—a leverage few regional actors possess.

Iran has formally responded to the US's proposal to end the nearly month-long war, asserting its 'natural and legal right' over the Strait of Hormuz. The Islamic Revolutionary Guard Corps-affiliated Tasnim news agency reported that Iran had sent its official response on Wednesday night and was awaiting a response.The Iranian response appears to contradict US President Donald Trump's claim that Tehran was 'begging to make a deal'. Instead, Iran has laid out conditions that signal a continued hardening of its position, including an end to 'aggressive acts of assassination', compensation and war reparations, measures to ensure 'war does not recur', and an end to hostilities from 'all resistance groups that took part in this battle throughout the region'.US special envoy Steve Witkoff claimed on Thursday that Tehran was seeking an 'off-ramp', with signs that Iran had realised there was no alternative to negotiation. However, the source cited in Tasnim's report slammed the US proposal, claiming that Washington sought to 'deceive the world' by presenting a peaceful image while preparing for 'ground invasion'.Trump posted on Truth Social that he would pause attacks on Iran's energy infrastructure for 10 days until April 6, claiming Tehran requested the move amid 'ongoing' talks that were 'going very well'. He also claimed that Iran was 'begging to make a deal', saying 'We are absolutely obliterating Iran' and that Iranians were 'lousy fighters, but great negotiators'. The economic and humanitarian toll of the conflict continues to mount, with Iran effectively blocking the Strait of Hormuz, leading to fuel shortages worldwide.

A recent jury verdict in California has held Meta and YouTube liable for the harm caused to a young woman, KGM, due to the addictive nature of their platforms. The plaintiff claimed that her social media use, which began at the age of six, led to injuries including body dysmorphia and thoughts of self-harm.The jury's decision marks a significant milestone in the ongoing debate about the impact of social media on young people. The verdict suggests that companies like Meta and YouTube, which have been accused of designing features to keep users engaged, can be held accountable for the harm caused by their platforms.Critics of the judgment argue that it could lead to a flood of lawsuits against social media companies, while others see it as a necessary step to protect young people from the potential dangers of social media. The verdict may also prompt regulatory changes and increased scrutiny of social media companies' practices.According to a report from Brown University, social media can be addictive due to its ability to activate the brain's reward system, releasing feel-good hormones such as dopamine. This can lead to a vicious cycle of use and addiction, particularly among young people who spend many hours a day on social media.In response to growing concerns, some countries have taken action to protect young people. Australia, for example, has banned children under 16 from using social media. In the US, there have been calls for social media companies to be required to put warning labels on their sites, but such proposals have yet to gain traction.The verdict is also significant given the close ties between the tech industry and the US administration. The appointment of Mark Zuckerberg to the president's council of advisers on science and technology has raised concerns about the influence of tech companies on policy decisions.Ultimately, the jury verdict sends a clear message to tech titans that they will be held accountable for the impact of their platforms on young people. As the debate about social media regulation continues, this verdict is likely to have far-reaching implications for the industry and for the protection of young people online.

Following Donald Trump's recent claims that the US is engaged in 'strong talks' to end the war with Iran, Qatar took the unusual step of publicly distancing itself from any alleged diplomatic negotiations. The Gulf state's government spokesperson Majed al-Ansari explicitly stated, 'Qatar was not involved in any mediation efforts,' adding pointedly, 'If they exist.'This represents a significant departure from Qatar's traditional role as a chief mediator in Middle East conflicts, having previously facilitated negotiations between Israel and Hamas, the US and the Taliban, and peace deals in Lebanon and Sudan.Over the past three weeks, Gulf states have found themselves on the frontlines of the conflict after their mediation efforts to prevent war were ultimately rejected by the US. The pattern of broken negotiations is particularly telling: the US attacked Iran twice during talks aimed at halting the Iranian nuclear program, which were championed by Oman. Discussions last June were halted as the US and Israel conducted strikes on Iran's nuclear facilities, and revived talks in February were similarly undermined when Trump began bombing Tehran before the final round of meetings.Since the war began, Gulf states have been forced to spend billions defending against daily Iranian missile and drone attacks, with their economies and sovereignty suffering substantial damage. Analysts suggest their reluctance to engage with the alleged ceasefire efforts reflects both the heavy toll of continued warfare and lingering suspicion about whether Trump's peace initiatives are genuine or merely a pretext for further escalation.As Bilal Saab, senior managing director of advisory group Trends US and former Pentagon official in the first Trump administration, explained: 'They've been burned by their previous experience. They previously thought they played a useful mediating role – until they realised that it was all for naught. Not to mention that they have been directly implicated in the war and are still being attacked by the Iranians. So there's a lot of pent-up frustration and disappointment.'By Wednesday night, the Iranian regime had outright rejected Trump's 15-point plan to end the war, submitted to Tehran via Pakistani generals, as 'extremely unreasonable' and presented their own substantially different proposal.The concern among Gulf states is that any negotiations could become a front for military escalation or even the assassination of additional Iranian leaders. This anxiety is compounded by the simultaneous deployment of thousands of US troops to the region and the persistent fear of being used as pawns in the US and Israel's Middle East strategy.Professor Bader al-Saif of Kuwait University noted: 'Whenever the word negotiation was used by the Trump administration, we unfortunately ended up under the rubric of war.' He emphasized that while Gulf states are reluctant to engage with what they perceive as a potential Trumpian charade, they recognize the critical importance of shaping any realistic peace negotiations that could affect their future.The existential threat to Gulf economic ambitions is particularly concerning. The prospect of Trump ending the war with the current Iranian regime still in place—potentially more vengeful than before and acutely aware of the damage its missiles can inflict on multi-billion-dollar infrastructure—poses significant risks. Additionally, there remains no clear solution to Iran's effective control over the Strait of Hormuz, through which most of the region's oil and gas exports flow.Analysts suggest that beyond relying on US-led negotiations, Gulf states should pursue their own separate dialogue with Iran. As al-Saif stated: 'They shouldn't only count on the US to do the negotiation. They should go and strike a deal with Iran for themselves. This was not our war, and if we can shield ourselves from being impacted any further, we should do it to protect our own national interests.'

The House of Lords has backed an Australian-style social media ban for under-16s, with peers voting 266 to 141 against proposals for a public consultation.Conservative former minister Lord Nash said the vote sent an 'unambiguous message' to the government, emphasizing that 'hollow promises and half-measures are not enough.'The vote comes after a jury in Los Angeles found that Meta, the owner of Google and Facebook, designed deliberately addictive products that harmed a 20-year-old's mental health.Nash proposed the age limit as part of the children's wellbeing and schools bill, stating that 'techies' had taken a 'cavalier approach' to content damaging to children.The decision could influence thousands of similar lawsuits in the US accusing social media companies of deliberately causing harm.Lady Cass, a paediatrician and crossbench peer, criticized the government for 'failing to understand the impact of social media on our children.'