Sunday, March 6, 2011

Veiled Threat Or Real Possibility?

HSBC says 'no decision' to move HQ from London to HK

HSBC, Europe's biggest bank, has denied reports it is planning to move its head office from London to Hong Kong. A spokesman told the BBC it had not made any preparations to rebase after 19 years of being London-based. The Sunday Telegraph quoted a major, unnamed investor as saying "we were told that a move [to Hong Kong] is now more than likely".

Posted by rantnrave @ 11:13 AM (1970 views)
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15 thoughts on “Veiled Threat Or Real Possibility?

  • clockslinger says:

    Go on, call our bluff and move to Honkers HSBC. Do it! See to what extent central government is prepared to underwrite your losses there. Then see what happens to your rating with Moodys. Not looking so sexy now, is it?

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  • In summary – apply tighter regulation and we’re off !

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  • in reality what would the UK lose if they did move? the key employees would move with them, tax revenue is not huge, shame tescos doesnt bugger off littering the country with their stores and paying very little tax and treating staff like slaves and suppliers like charities

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  • @clockslinger: actually HSBC was (and is) the best capitalised bank in the UK. It wasn’t in trouble when the financial crisis was at its peak. If anything the govt bailout of the banks did it no favours – if banks had been let go to the wall (ie RBS/HBoS/etc) HSBC would have been in line to pick up huge amounts of deposits and business.

    If HSBC leave, the writings on the wall for the UK.

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  • Think what would happen to London house prices if they left… I’ll happily lock the door once they’ve departed.

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  • Their nominal HQ wil be ‘located’ wherever they see ‘light touch’ regulation, they will then ensure that trading activities are ‘located’ in the most favourable tax havens. In short exactly as they are now.

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  • This is the real face of capitalism, they are not nationalists and will simply move to where they think the new money is to be made.

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  • I’ll carry there bags to the plane.

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  • 6. will

    Spot on.

    The worlds their oyster and like a good strong afrodisiac they don’t care about who they have their way with along the journey.

    Hurray for the policies of neo multiculturalism, globalism and all that underminds sovereignty which has allowed these traitors

    to run foot loose and fancy free.

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  • What are the rules for these companies? Am i right in thinking they have to open an office in another country, call it an ‘HQ’, then their tax liabilities are in that country……

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  • As HSBC have repeatedly stated: they were not responsible for the banking crash, but have been vilified. They were encouraged to borrow token amounts of money to save face at LLoyds -TSB.

    Yes, it is a warning shot to the HM government, but they also know that moving to an area of zero regulation would not help their image one bit!

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  • stillthinking says:

    I don’t think that 50,000 employees would move with them. As Jim Rogers pointed out, financial sectors move. But I don’t think the flop debts will move somehow.

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  • No Will, they have absolutely no interest in the Social good of any Nation. They never have, and they never will.

    What at face value is so astonishing,is not this revelation in itself, but that with this in mind, Nation States would willingly cede such power to them,and, moreover, that members of democracies within those Nation States would be prepared to accept this sorry state of perpetual servitude to International Financiers, as acceptable/ unavoidable.

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  • P*ss off then.

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  • hsbs say they weren’t responsible for the financial crisis,but in fact they first sparked the phrase subprime when in feb 2007,they told the market they were writing off $11.5 billion of subprime loans becasue they could no longer value them-fact

    they were at the forefront of buying and selling mortgage backed securities

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