JPMorgan Chase has finally agreed to build a skyscraper near Ground Zero for its investment banking headquarters. Daily Telegraph
After months of wranglings over costs and tax breaks, it becomes the second Wall Street firm, after Goldman Sachs, to commit to moving into the area devastated by the terrorist attacks of September 11.
The bank is to occupy a 40-storey tower totalling 1.3m sq ft and six trading floors. It will invest around $2bn (£1.01bn) in the project, but will receive generous tax breaks worth more than $100m.
JPMorgan chief executive Jamie Dimon said: 'We’re proud of going back home,' adding that the bank traces back its roots in lower Manhattan more than 200 years.