Doomed

[Sockpuppet]

BBC News - HSBC says 'no decision' to move HQ from London to HK

Or boomed in the short term doomed in the long term.

[scooterscot]

Exactly how the Hong kong and Shanghai Banking Corporation head quarter's is in the city has always been something of a puzzle to me.

I agree doomed etc. This slow unravelling of the truth has been there for everyone to see yet every politician refuses to believe it. You can't milk a dead cow, so the bank feels it's time to move on from this debt ridden society.

[norrahe]

And not long before others make the same move

[TimberWolf]

If they flip up over there would they get multi billion pound bonuses and a can't fail banking environment like in the UK?

[TimberWolf]

More relaxed regulations for financial institutions in the country would mean HSBC could cut costs and generate more profits by making greater use of its balance sheet, shareholders have apparently been told.
HSBC Denies Reports It Is Relocating Its Headquarters From London To Hong Kong | Business | Sky News

[Freamon]

All hot air. The main reason HSBC and the others have to remain based in London is that they have an implicit backstop from the govt, which dramatically improves their creditworthiness. This wouldn't be the case if they moved to HK.

[AtW]

Exactly how the Hong kong and Shanghai Banking Corporation head quarter's is in the city has always been something of a puzzle to me.

Lax regulation that attracted both banks and dodgy money.

Relatively low taxation with very generous tax offset rules.