JPMorgan are close to a £500 million settlement with the Government over a tax-avoidance scheme for bonuses, according to the Financial Times.
The investment bank is reportedly winding up a Jersey-based trust and has asked more than 2,000 current and former staff to contribute to the settlement.
The news comes with corporations' tax affairs facing increased scrutiny, after Starbucks this week responded to public anger by volunteering to pay millions of pounds to the Treasury.
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The live stage version of Peter Kay's Phoenix Nights has reportedly been cancelled after actor Ted Robbins collapsed on opening night.
The much-loved local character, who had lived on the city's streets for decades, died in hospital this week after falling ill.
Man City remain five points behind Chelsea in the Premier League title race after a 1-1 draw at Stamford Bridge