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Morning Briefing

Morning Briefing

As was largely expected, HSBC has decided to remain headquartered in London, rather than moving to Hong Kong, after a ten-month review.

The unanimous decision by the bank's board comes at a time when the regulatory climate for big banks in the UK has eased, and there is growing uncertainty about Beijing's possible influence in Hong Kong.

Despite ongoing concerns about the health of European and UK banks in a turbulent market, the Bank of England is expected to approve banks' dividend plans this week, confirming its view that the sector has achieved stability.

Indian online marketplace Snapdeal has raised $200 million in funding, giving it a valuation in the region of $6.5 billion, as it seeks to increase investments in logistics and infrastructure.

Smaller banks in Australia have warned that the central bank's plans to cut the debit card fees they collect from merchants by a third will drive people back to using credit cards, increasing the risk that they will become trapped in debt.

Dijsselbloem rejects calls for looser banking rules
State-run banks like SBI, Bank of Baroda, Central Bank of India, apprise PM Narendra Modi of rising bad loans
Online P2P lenders eye high street move
Former boss of Mastercard, Thomas Cook and First Direct to head AvantCredit

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