HSBC: No decision made on moving bank HQs to Hong Kong; doesn't like regulation

[EV_Ares]

Britain's biggest bank HSBC today said it had not made a decision to leave the UK following reports but warned the country's "competitive position needs protection".

The bank, which more than doubled annual profits in 2010, was responding to a claim that a major, unnamed investor told The Sunday Telegraph "we were told that a move is now more than likely".

The loss of HSBC's headquarters in London, although threatened for months because of the increase in financial regulations, would be a severe blow to the coalition Government which is relying on a private-sector-led recovery.

The group posted on Monday pre-tax profits of 19 billion US dollars (£12 billion).

(This is nothing more than blackmail & after what the banks there & here have done to our economy through their greed, they take bailout money and still have not been satisfied and still have the same old greed) Good riddance I say, let them live under Hong Kong's gov.

Link to Guardian article: http://ind.pn/h5VlPa