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HSBC considers headquarters move away from UK

Banking giant HSBC is to carry out a review into whether to keep its headquarters in the UK.

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HSBC statement shows EU membership important to UK

File photo of Labour shadow business secretary Chuka Umunna. Credit: PA images

Labour's shadow Business Secretary has said that HSBC's announcement it may move its headquarters outside of the United Kingdom, highlights the importance of EU membership for the country.

Chuka Umunna said:

HSBC's statement today serves to illustrate how irresponsible it is to play fast and loose with the UK's membership of the EU.

It would be a disaster for our financial services sector and business in general if the UK left the EU. Better to stay in and lead reform.

– Chuka Umunna

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