HSBC profit surges by third as compliance costs fall

LONDON (AP) — HSBC, Europe's largest bank by market value, may defer into next year a decision on whether to move its headquarters out of London, with management conceding Monday they might need more time to assess whether relocating to Asia would make sense in the long term.

The bank has been steadily shifting its center of gravity toward the fast-growing Asian economies — on Monday it announced a new joint venture in China's booming Pearl River Delta region. But Chairman Douglas...

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