HSBC headquarters to relocate from London to Birmingham
Discussion
Du1point8 said:
Fittster said:
https://uk.finance.yahoo.com/news/hsbc-faces-hit-u...
So which politician will twist HSBC's arm enough to head back to Hong Kong.
Its ok... the lefties want this and think that the banks won't leave the uk, or if they do they were better off without them.So which politician will twist HSBC's arm enough to head back to Hong Kong.
"Mr Osborne increased the bank levy for the eighth time in four years in the Budget . The increase is expected to raise an extra £4.4bn over the next five years. A restriction on tax deductible payments linked to misconduct fines is forecast to raise a further £1bn."
Looks like both parties are happy to go after the banks.
This "on shoring" to cheaper parts of the UK is all the rage especially with within corporate "back office" in London. Relocation for a majority of the staff is generally a non starter, in fact HSBC don't want you to relocate really, why pay London wage rates? What they would like you to do is stay on for an extra 6 months or so for a redundancy package + to facilitate a better handover to the cheaper Midland staff.
TSB did exactly the same thing in the mid-1990's. The good staff, especially those with spouses who didn't have the same employer, found other jobs in London. The not-so-good took the relocation package and by the time the paint was dry TSB merged with Lloyds and the Birmingham HQ idea was reversed back to London.
Nice work for estate agents I suppose.
Nice work for estate agents I suppose.
Not to mention the relocation expenses game that some play.
Pokey flat > nice place
Stay long enough per any rules.
Relocation to SE, but complain look where we live! Can't afford etc etc. Get assistance.
Stay long enough per any rules.
Relocation again into mansion / castle.
Seen people play this game in public sector. Is banking any different except it's not taxpayer's money.
Pokey flat > nice place
Stay long enough per any rules.
Relocation to SE, but complain look where we live! Can't afford etc etc. Get assistance.
Stay long enough per any rules.
Relocation again into mansion / castle.
Seen people play this game in public sector. Is banking any different except it's not taxpayer's money.
iphonedyou said:
McWigglebum4th said:
Poor bds having to locate to birmingham
how will they cope with having houses with more then 1 bedroom
And what if they end up with
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-
-
-
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a
GARDEN
Poor southerns will be lost
Would take a lot more than to entice me. Moon on a stick, maybe.how will they cope with having houses with more then 1 bedroom
And what if they end up with
-
-
-
-
-
-
a
GARDEN
Poor southerns will be lost
My son lives in NW7 and we spent easter in london with him. Was dragged around Camden Lock, and then to the zoo.
Today I had an extra day off, and walked the dog on the beach. I wonder which I prefered?
The thing about Brum is that within commuting distance you can find some very nice property, and you are never far from countryside. The city centre is compact, and there's enough going on to not get board.
Looks like George Osborne could drive HSBC out of London.
"Douglas Flint, the chairman of the UK largest lender, has said that HSBC could soon consider a move away from its London base
Britain's biggest bank could leave London amid concerns from investors that regulators are pushing the sector too hard, the lender’s chairman has warned.
Responding to an investor in Hong Kong, Douglas Flint, chairman of HSBC, said that: “We are beginning to see the final shape of regulation, the final shape of structural reform and as soon as that mist lifts sufficiently, we will once again start to look at where the best place for HSBC is.”
https://uk.finance.yahoo.com/news/hsbc-chairman-wa...
"Douglas Flint, the chairman of the UK largest lender, has said that HSBC could soon consider a move away from its London base
Britain's biggest bank could leave London amid concerns from investors that regulators are pushing the sector too hard, the lender’s chairman has warned.
Responding to an investor in Hong Kong, Douglas Flint, chairman of HSBC, said that: “We are beginning to see the final shape of regulation, the final shape of structural reform and as soon as that mist lifts sufficiently, we will once again start to look at where the best place for HSBC is.”
https://uk.finance.yahoo.com/news/hsbc-chairman-wa...
Sorry, how are HSBC proposing to save this money? If they need the UK banking licence they'll have to pay the levy which is charged on short-term liabilities.
Also in terms of PR, after all that HSBC has been through, would the saving even be worth being seen as more treacherous and deceitful by the public?
Also in terms of PR, after all that HSBC has been through, would the saving even be worth being seen as more treacherous and deceitful by the public?
carreauchompeur said:
Wow, all these institutions moving to Birmingham. Sounds like it's the new financial powerhouse, if only we had a dedicated high speed link to Leeds/Manchester/Sheffield/Hull/Sunderland/Penrith/Liverpool/Holyhead/Cardiff/Glasgow/Inverness/Derby/Rotherham.
I've edited it, to expand on what anyone North of Newport Pagnell wants. We don't give a st how quick it is to get to London, but we'd quite like to be able to get from Southport to Derby on a train, in less than a couple of hours, without changing 3 times. (The North begins in Crewe apparently)
Pit Pony said:
I've edited it, to expand on what anyone North of Newport Pagnell wants. We don't give a st how quick it is to get to London, but we'd quite like to be able to get from Southport to Derby on a train, in less than a couple of hours, without changing 3 times.
(The North begins in Crewe apparently)
Even trains from Crewe aren't great.(The North begins in Crewe apparently)
My wife is having to work out of Milton Keynes for a few months and has to be in by 10am on monday morning. Looked into the trains.
Direct trains that will get her into MK by 10am all take between 2 and 2 and a half hours.
Faster routes all involve 1 or 2 changes - but even then the fastest route (assuming all the connecting services....erm.....connect) is about 1 hour 40 (not including travel times to and from the terminal stations)
As soon as we get into "off peak" time (i.e. around 9am) - there is a direct train to MK with a travel time of just over an hour!
So we have trains running between Crewe and MK in prime commuting time which are a palava of connecting services or are much slower than off peak trains. As soon as we go off peak - the service is direct and fast. Then they wonder why people are reluctant to commute by train!
Moonhawk said:
Pit Pony said:
I've edited it, to expand on what anyone North of Newport Pagnell wants. We don't give a st how quick it is to get to London, but we'd quite like to be able to get from Southport to Derby on a train, in less than a couple of hours, without changing 3 times.
(The North begins in Crewe apparently)
Even trains from Crewe aren't great.(The North begins in Crewe apparently)
My wife is having to work out of Milton Keynes for a few months and has to be in by 10am on monday morning. Looked into the trains.
Direct trains that will get her into MK by 10am all take between 2 and 2 and a half hours.
Faster routes all involve 1 or 2 changes - but even then the fastest route (assuming all the connecting services....erm.....connect) is about 1 hour 40 (not including travel times to and from the terminal stations)
As soon as we get into "off peak" time (i.e. around 9am) - there is a direct train to MK with a travel time of just over an hour!
So we have trains running between Crewe and MK in prime commuting time which are a palava of connecting services or are much slower than off peak trains. As soon as we go off peak - the service is direct and fast. Then they wonder why people are reluctant to commute by train!
Hopefully that will improve when HS2 creates a million free WCML paths
theboss said:
Moonhawk said:
Pit Pony said:
I've edited it, to expand on what anyone North of Newport Pagnell wants. We don't give a st how quick it is to get to London, but we'd quite like to be able to get from Southport to Derby on a train, in less than a couple of hours, without changing 3 times.
(The North begins in Crewe apparently)
Even trains from Crewe aren't great.(The North begins in Crewe apparently)
My wife is having to work out of Milton Keynes for a few months and has to be in by 10am on monday morning. Looked into the trains.
Direct trains that will get her into MK by 10am all take between 2 and 2 and a half hours.
Faster routes all involve 1 or 2 changes - but even then the fastest route (assuming all the connecting services....erm.....connect) is about 1 hour 40 (not including travel times to and from the terminal stations)
As soon as we get into "off peak" time (i.e. around 9am) - there is a direct train to MK with a travel time of just over an hour!
So we have trains running between Crewe and MK in prime commuting time which are a palava of connecting services or are much slower than off peak trains. As soon as we go off peak - the service is direct and fast. Then they wonder why people are reluctant to commute by train!
Hopefully that will improve when HS2 creates a million free WCML paths
Option 1 involved leaving at 5am and arriving between 8:30 and 9:30 by car.
Option 2 involved driving to Runcorn Station (just 30 miles away) to join the 5:43 train from Liverpool, Changing at MK, about 7:15 and getting to Hemel by 7:58. Bus to the factory by 8:30 ish
Pay £8 a day to park at Runcorn. If I got the first train from the station nearest me, I couldn't leave before 6:30 am and would get to HH at 10:40
speedy_thrills said:
Sorry, how are HSBC proposing to save this money? If they need the UK banking licence they'll have to pay the levy which is charged on short-term liabilities.
It's charged on UK based liabilities over 20bn. As I understand it the non-UK banks who would have had to pay the levy simply moved the liabilities. Consequently the British banks are the only ones left paying it. Obviously Barclays and RBS have been shrinking their balance sheets to which leaves the Chancellor picking up a fraction of what he expected and HSBC and Standard Chartered, ironically given their relative crisis performance, paying far more than they ever expected with likely increases in future. My assumption is moving their corporate domicile will allow them to move these liabilities and avoid the charge. It's a very real threat, Gulliver already lives in Hong Kongor chemseley wood, or kitts green, kings Norton... and so on...
you can go both ways... if you catch my drift
you can go both ways... if you catch my drift
Loudy McFatass said:
eatcustard said:
I recommend all the HSBC people moving up from London to move to Sparkbrook, its a top place to live.
Or Alum Rock is another good shout.Gassing Station | News, Politics & Economics | Top of Page | What's New | My Stuff