Quote:
HSBC reveals plans to quit London for Hong Kong
HSBC has told its biggest shareholders that it is preparing to quit London in a shock move that the bank has revealed to key investors is now "more likely than not".
|
http://www.telegraph.co.uk/finance/n...Hong-Kong.html
HSBC didn't take funding from the tax payer but are being driven away by increased regulation in terms of capital requirements and taxation.
Prize to the first person to say 'Good riddance.' without thinking it through.
EDIT: As a note
the BBC report that HSBC say they've no plans to do so, could just be a bit of a PR exercise.