UK banking giant HSBC has announced it is to keep its headquarters in London.

Concerns about stricter UK regulations led Europe’s biggest bank to launch a review into whether to move elsewhere, with Hong Kong seen as the most likely alternative.

But the bank said it had decided unanimously against the move and that London offered the best outcome for its customers and shareholders.

According to BBC News, the decision was seen as a vote of confidence for the UK where the bank has had its headquarters since 1993.

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