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Hsbc Threatens To Leave For Asia

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Seeing as a lot of those companies have transferred jobs to asian countries it does make sense for them to transfer their HQ there as well - plus the directors.

As soon as possible and it's just a surprise they haven't done it sooner as they keep on threatening it. For sure the bailouts would be bigger and better there as well as better weather etc.

They should write an open letter to the British public and allow them to vote on it.

Actually they should just be kicked out of Britain for the way that they've helped to wreck the economy.

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Well they're making a rotten job of it but now its getting obvious and they're going to scarper.

They should.

Are Barclays still in the UK - they were issuing threats to leave not so long ago.

Edited by billybong

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They're not going anywhere, it's too big a market for them.

As an aside, I would say they are probably one of the very few prudent lenders out there. My mortgage application for a 1x salary loan was pretty tough, which I was happy with. Clearly they aren't that bothered about asking where monies to be deposited come from.

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Leave London - global financial hub in the perfect time zone. Go to small island overseen by a Communist govt who may nationalise the banks if the SHTF. Yeah, I can see the shareholders jumping at that.

Of course they won't leave - although it will be great if they did. How many of their UK workforce at CW would make the move? Very few , imo. Bankers talk the talk, but rarely walk....We should all know this by now given the last 10 years.

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The Hongkong and Shanghai Banking Corporation?

HSBC moved HQ to UK as a condition of when they bought up Midland Bank

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The Its the EU that are bothering them. They don't like the idea that they can't continue their criminal activities.

Simples, b off.

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Moving their HQ. Doesn't that just mean they move the wall plaque that denotes where they pay tax? They won't go, may pay less tax but they won't get the bailout from the proles.

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£750m savings from the bank levy. i.e. paying their taxes.

Which of course they can then stuff into their hidden accounts in Panama.

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The Its the EU that are bothering them. They don't like the idea that they can't continue their criminal activities.

Simples, b off.

They're worried that they might end up outside of the EU, so they threaten to leave the EU. Huh? Nonsensical threats like this do nothing but increase support for Labour. There are some seriously stupid people at HSBC.

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They're worried that they might end up outside of the EU, so they threaten to leave the EU. Huh? Nonsensical threats like this do nothing but increase support for Labour. There are some seriously stupid people at HSBC.

Then it would make more sense of them to move to Frankfurt. Does the special economic zone status of Hong Kong mean they would have access to the Chinese market with less of the regulation? Seems like they want to have their cake and eat it either way.

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Leave London - global financial hub in the perfect time zone. Go to small island overseen by a Communist govt who may nationalise the banks if the SHTF. Yeah, I can see the shareholders jumping at that.

Of course they won't leave - although it will be great if they did. How many of their UK workforce at CW would make the move? Very few , imo. Bankers talk the talk, but rarely walk....We should all know this by now given the last 10 years.

+1

Whether HSBC a have their headquarters in in the Europe or Asia they are always going to be forced to have a substantial presence in London if they want to be part of its capital markets. Similarly, any retail arm in the UK will almost certainly have to have some form of British HQ even if ultimate control lies overseas. I have worked for a few global corprations in my career and I have noticed that the obsession with the location of the Head Office is something that senior managers fret about a lot while most of the staff simply dont care.As for the guff about the banking levy I have been reading in some of the financial press it should be noted that all banks that operate in the UK have to pay it regardless of where they have their HQ.The truth is that if HSBC want to move its headquarters overseas they will so why make a big song and dance about it. At least it will be one potential mega banking liabillity moved off the UKs balance sheet.

Edited by stormymonday_2011

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There is nowhere that will take them that they would also want to be head quartered in. Singapore is too small to want a bank that size and the shareholders would be fearful of moving under China'a control. And there is no other convincing alternative. It is exactly the same reason that Standard Chartered did not move years ago.

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