On March 3, it will be 150 years since the Hongkong and Shanghai Banking Corporation opened for business. Normally such a milestone would prompt celebration: After all, the bank founded by colonial merchants now ranks among the world’s largest financial institutions. However, any merriment is likely to be mute. For HSBC, the birthday brings challenges as great as any it has ever faced.

You simply could not make it up, writes Kyran FitzGerald.

The commercial court is being asked to permit transfer of the international life assurance business of Dublin-based HSBC Life (Europe) Ltd — HLE — to another HSBC company in Malta.

Britain’s biggest bank HSBC today said it had not made a decision to leave the UK following reports but warned the country’s “competitive position needs protection”.