Tag Archives: hsbc

Support Hong Kong. Boycott HSBC and First Direct.

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A few days ago, June 4th, marked the 31st anniversary of the Tiananmen Square protests. It also marked the day that HSBC would announce the disappointing news that they were standing with China in support of its new “security” law.

It would be naive to think that the bank, which in its advertising has described itself as a “global citizen” actually cares about the citizens of Hong Kong. However by doing this they are making the assumption that you also do not care about the citizens of Hong Kong. Or, at the very least, you do not care about it enough to close any accounts you have with them.

With eight million customers in the UK, across their First Direct and HSBC brands, I’m not going to pretend that a few committed activists shutting their accounts will cause them to row back on their policy, but, that being said, I for one am also not content with sitting and doing nothing. I cannot “support” a business with my custom which chooses to favour a totalitarian state that quashes free speech and backs a law which has led to sustained protests in Hong Kong.

Posted in Op-eds | Also tagged and | 6 Comments

Danny Alexander says HSBC worries about UK leaving EU show dangers of Conservatives and UKIP

HSBC has said today that it might consider pulling out of the UK and cited uncertainty over Britain’s position in the EU as part of its reasoning. From the Guardian:

HSBC, Britain’s biggest bank, has issued a stark warning about the economic risks of the UK pulling out of the European Union as it revealed it was considering moving its headquarters out of London.

The surprise announcement of a full-blown review into where the bank should base its operations will stun politicians on the general election campaign trail.

HSBC listed the economic uncertainty created by the risk of the UK going alone – a blow to the Conservatives which have pledged to hold an “in-out” referendum on the EU.

It would be a massive deal if HSBC were to leave as 48,000 jobs would go.

Danny Alexander said that this highlighted the dangers of a Conservative/UKIP government:

Today’s HSBC announcement confirms fears that businesses have over a swing to the right and the prospect of a ‘Blukip’ coalition pulling us out Europe.

David Cameron, held hostage by UKIP partners and the right wing of his party, would drive the country further towards a ‘Brexit’ – which would hit both jobs and business.

As I revealed today, the markets and businesses are increasingly showing their concern at the prospect of an unstable government.

Only stable government with the Liberal Democrats in the mix will stop Britain from being pulled sharply to the right with Nigel Farage, or to the left with Alex Salmond.

Posted in News | Also tagged and | 31 Comments
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