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Is Standard Chartered looking to relocate its headquarters?

Banking giant Standard Chartered, which has significant operations in the Far East, is rumoured to be looking at a potential relocating of its headquarters out of the UK. As with a number of UK banking operations, the company feels that the introduction of banking taxes and "heavy" regulations on the UK arena has reduced its competitiveness in the short term. So is this a real threat from Standard Chartered?

It would appear that the company is seriously considering its position in the UK with rumours that the company is concerned about the fact the UK government is introducing various changes before overseas counterparts. Whether the financial light of London is starting to fade is another question but if the UK government is left high and dry by foreign counterparts unwilling to introduce the same level of taxation and regulation, then London may well be in trouble.

London has been one of the major financial centres for over 100 years although there is a growing feeling that a pincer movement by the UK government, introducing further regulation and costs, and the European Union, looking to grab power from London, could cause problems in the short, medium and longer term.

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