Simon Halabi, Irvine Sellar and CLS, the developers of the proposed Shard of Glass tower in Southwark, are in talks with three institutions to raise £500m.

The negotiations follow a £175m fundraising last September for the 70-storey scheme. However, it is believed much of this was spent buying out PricewaterhouseCoopers, whose building was required to allow construction of the tower to begin.

Sunday Telegraph