H.s.b.c. relocating
- 6 March 2011 16:3895504there is a strong rumour that the above bank will move london to hong kong after being here for 19 years.
they say that it is not yet a done deal but many investors say they have been told that it is very likely.
operational expenses last year £37.7 billion up 9.6% on the previous year.
6 billion quid was was wiped from their share value last week and it is estimated that moving to hong kong would put a 30% premium on their share price overnight.
should the move happen it will be a blow to the coalition who are looking to the financial sector to be at the forefront of the recovery. - 6 March 2011 16:3995505Sabre rattling, at best, probably. Retaliation for Kings comments, I suspect.
- Keith Sansum1
- Location: london
- Registered: 25 Aug 2010
- Posts: 23,942
6 March 2011 16:3995507OH DEAR HOWARD
And the co olition are frightened of the banks, as warned we have a crisis on the horizon.
now what will this cobbled together govt come up with?ALL POSTS ARE MY OWN PERSONAL VIEWS - 6 March 2011 16:4195508todays telegraph says yes they will move, the independent reckons they will stay.
the thing is it is company policy that every 3 years they take a look at operating costs and make comparisons with alternative locations. - Brian Dixon
- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
6 March 2011 16:4195509howard,thanks for the tip, might go and buy a couple of hundred quids worth tomorrow.
- 6 March 2011 16:4695512Iagree with Bern, phew that hurt
I think its pure sabre rattling. They're throwing a shot across the governments bows. Seems to me Keith that the banks arefar too powerful, they need their wings clipped. Unfortunately, Compo, Foggy and Clegg are unlikely to take them on, unions are far easier. - 6 March 2011 16:4795513That's two pints you owe me.....!!
- 6 March 2011 16:4795514They will go. The UK only accounts for 20% of their earnings. Their present chief executive is an old friend and ex-colleague of mine. He always held the view that the head office should have stayed in HK when they moved it to London in the early 90s. He moved back to HK late last year upon becoming chief executive.I'm an optimist. But I'm an optimist who takes my raincoat - Harold Wilson
- 6 March 2011 16:4895515Plus ca change........things change all the time, sometimes for the better. We will suck it up and get on with it, probably.
- 6 March 2011 17:0895524Blimey HSBC moving to HK....thats one hell of a trip for me to put my well worn debit card into the hole in the wall to get my beer tokens each Friday. Must check cheapflights.com....Marek
I think therefore I am (not a Tory supporter) - 6 March 2011 17:2995527Let them go. If they are done with the UK then let's the UK be done with them. Sabre rattling perhaps, as has been said What will some not do to sell their newspaper?
Just a rumour, the BBC has it...
http://www.bbc.co.uk/news/business-12658880Ignorance is bliss, bliss is happiness, I am happy...to draw your attention to the possible connectivity in the foregoing.