HSBC set to move 1,000 jobs from London to Paris over UK's departure from single market

The boss of HSBC has said the bank is on course to move 1,000 jobs from its London business to Paris after British Prime Minister Theresa May confirmed Britain will scrap its single market membership after Brexit.

Stuart Gulliver's comments revive warnings the vote to leave could result in an exodus of jobs from the City of London's lucrative financial services sector to the continent.