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We always knew how many but today we learned how much business they would take with them from London. Those bankers generate 20% of HSBC's European banking revenue - a number that HSBC wouldn't split out but is in the billions. Revenue is not the same as profit but the move will dent government tax receipts, as will the loss of income tax from a thousand highly paid investment bankers. UBS has also previously threatened to move 1,500 bankers, nearly a third of its workforce, to Europe in the event of Brexit. But today the chairman Axel Weber told the BBC he hoped the final number would be lower. UBS privately acknowledge that whatever happens a significant number of jobs will leave, most probably to Frankfurt, and that process will start soon after the UK triggers Article 50 - the mechanism to leave the EU. With Britain's exit from the single market confirmed by the Prime Minister, what were once contingency plans are now becoming reality. UK citizens voted in a referendum last June that the country should leave the European Union. Since then, there has been widespread speculation that many financial jobs based in London might migrate to cities in the rest of Europe, such as Dublin, Paris or Frankfurt, so that the banks concerned could continue to offer their services to EU clients. Quick decision Mr Gulliver said his bank was in no rush, but added: "Specifically what will happen is those activities covered specifically by European financial regulation will need to move, looking at our own numbers.
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Vowing to slap taxes on foreign-manufactured products, he told executives on Monday: "All you have to do is stay." His comments followed a meeting with executives from companies including defence manufacturer Lockheed Martin, apparel maker Under Armour, appliance manufacturer Whirlpool, electric-carmaker Tesla and pharmaceutical giant Johnson & Johnson. "Busy week planned with a heavy focus on jobs and national security," Mr Trump said in a tweet early on Monday. Media captionNYT columnist Thomas Friedman tells Radio 4's Today he fears a "chaos presidency" According to his schedule, the president will meet labour leaders in the afternoon. It is not clear what executive orders he might sign, but on Sunday his administration said it was pondering topics ranging from immigration to Israel and the economy, including a possible overhaul of the affordable flights to paris france from jax North American Free Trade Agreement. Mr Trump has blamed the trade pact with Mexico and Canada for depriving American workers of their jobs. US media reports Mr Trump will sign an executive action to withdraw from the 12-nation Trans-Pacific Partnership trade deal, which was a linchpin of Mr Obama's pivot to Asia. Mr Trump told Fox News last week that "Monday is really the day that we start signing and working and making great deals for the country". The US Senate will meanwhile vote on the nomination of Mike Pompeo to be CIA director. Rex Tillerson's nomination as Secretary of State was effectively assured on Monday as Senator Marco Rubio dropped his objections.