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[Nickbat]

Well, talk about what ye sow, so shall ye reap. I bet Vince Cable is wetting himself with pleasure now.

Indeed, I guess all the bank-bashers - including a few on here - will be joyful. Except for the fact that it will mean job losses and less money for the Treasury coffers. And, of course, if one bank - or indeed any organisation - thinks that London has become uncompetitive, it could well be the start of the exodus.

The Cleggerons score yet another own goal. 

A sad day, IMHO.

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/8363584/HSBC-reveals-plans-to-quit-London-for-Hong-Kong.html

[albitz]

I hate to say I told y,all so, but.....................

[Banjax]

Stop Press: Hong Kong bank threatens to move to ........Hong Kong......again....terribly sorry old boy, I am a little tired.

They won't.

Dig this thread up in a year and they'll still be here. 




and I'll pop in an "I told you so" for 2012 

[MICHELINMAN]

Job losses?
You mean like the thousands of hard working legal miners sacked by Thatcher? 
And the British car workers jobs lost in the last 30 years? 
Banks?
who wants to work for legalised criminals anyway?
 :

[Plomien]

This has been talked about for a while. even if they move the head office to Hong Kong the bank will still function in the UK.
btw EMU83 don't forget there are people on here from all walks of life some of which who work for banks like myself who works for the bank mentioned

[albitz]

Call them what you want, but if you dont recognise the fact that the countries economy is extrememly dependant on the revenue they generate, then you have your head immersed in a very large bucket of sand.
It shouldnt be that way, but it is and it will take a long time to change it.
Be careful what you wish for.

[Banjax]

This has been talked about for a while. even if they move the head office to Hong Kong the bank will still function in the UK.
btw EMU83 don't forget there are people on here from all walks of life some of which who work for banks like myself who works for the bank mentioned

then you'll know, yourself they drag this "we're leaving London" out every few years - we're all supposed to thank them for what? deigning to base themselves in the financial hub of the universe, stay or go - but either way stop bleating about it - even Merv King hates bankers now  :-?

[Mysteryman]

This has been talked about for a while. even if they move the head office to Hong Kong the bank will still function in the UK.
btw EMU83 don't forget there are people on here from all walks of life some of which who work for banks like myself who works for the bank mentioned

then you'll know, yourself they drag this "we're leaving London" out every few years - we're all supposed to thank them for what? deigning to base themselves in the financial hub of the universe, stay or go - but either way stop bleating about it - even Merv King hates bankers now  :-?

Self-loathing. Not a good sign for the governor of the bank of england.

[Nickbat]

Stop Press: Hong Kong bank threatens to move to ........Hong Kong......again....terribly sorry old boy, I am a little tired.

They won't.

Dig this thread up in a year and they'll still be here. 




and I'll pop in an "I told you so" for 2012 

They review their HQ location every three years and this is the first time that staying in London has not gone through "on the nod". Also, I don't read this as a threat, but a statement of intent.

The maintenance of the City of London as financial centre is vital to the UK economy, as Albs has said. You may not like it, but that doesn't make it any less of a fact.     

[Plomien]

It is reviewed every 3 years but the way the tax is being taken for all banks not just those who have had government backing is not fair which is why HSBC is looking at moving away one of the only banks not to require government assistance.
The banks that turn a profit who have had help should be made to turn over part of that profit to pay back what is owed to clear the debit quicker.

[Banjax]

Stop Press: Hong Kong bank threatens to move to ........Hong Kong......again....terribly sorry old boy, I am a little tired.

They won't.

Dig this thread up in a year and they'll still be here. 




and I'll pop in an "I told you so" for 2012 

They review their HQ location every three years and this is the first time that staying in London has not gone through "on the nod". Also, I don't read this as a threat, but a statement of intent.

The maintenance of the City of London as financial centre is vital to the UK economy, as Albs has said. You may not like it, but that doesn't make it any less of a fact.     

yeah i'm sure they're seriously researching where else in the world they can get all their good coke and clean hookers in relative safety 

[albitz]

Thats a rather outrageous thing to say about a whole industry of hundreds of thousands of people, of both sexes.

[Mysteryman]

Thats a rather outrageous thing to say about a whole industry of hundreds of thousands of people.

You're letting him do it again Albs.

[Plomien]

Stop Press: Hong Kong bank threatens to move to ........Hong Kong......again....terribly sorry old boy, I am a little tired.

They won't.

Dig this thread up in a year and they'll still be here. 




and I'll pop in an "I told you so" for 2012 

They review their HQ location every three years and this is the first time that staying in London has not gone through "on the nod". Also, I don't read this as a threat, but a statement of intent.

The maintenance of the City of London as financial centre is vital to the UK economy, as Albs has said. You may not like it, but that doesn't make it any less of a fact.     

yeah i'm sure they're seriously researching where else in the world they can get all their good coke and clean hookers in relative safety 

never touched either and never will (unless you are talking about cola and rugby)

[Sir Tigger KC]

HSBC have form for this sort of thing. The HSBC building was designed so that it could be dismantled and re-erected elsewhere, if Hong Kong went belly up after it was given back to China in 1997.

As an international company they are obliged to review their domicle from time to time to ensure that they are operating in the most advantageous environment. In my view its abit of sabre rattling, but if the witchhunt continous then they may well make good on their threat to leave....

However despite the higher taxes here, the UK remains a relatively safe and stable place to do business and ultimatly if there is another financial crisis they will get help fom the UK government, which they couldn't rely on from the Chinese or Singaporeans....