Royal Bank of Canada has signed a deal to acquire HSBC Bank Canada for $13.5 billion in cash. RBC chief executive Dave McKay said the deal offers the opportunity to add a complementary business and client base. “This also positions us as the bank of choice for commercial clients with international needs, newcomers to Canada and…
HSBC Becomes First Foreign Bank to Install Communist Party Committee
HSBC has become the first foreign bank with investment business in mainland China to set up a Chinese Communist Party (CCP) committee as part of its operations, according to a July 21 Financial Times report. HSBC Qianhai is a securities joint venture between HSBC and Qianhai Financial Holdings. After HSBC’s stake in the joint venture increased from…
LIVE 5 PM ET: Biden ‘Doing Well’ After Positive COVID-19 Test; ECB Hikes Rates, 1st in 11 Years | NTD Business
President Biden tested positive for COVID-19 today, but he assures Americans he’s doing well and getting work done. The European Central Bank is raising interest rates for the first time in over a decade, reversing years of loose monetary policy. HSBC bank could be the first-ever foreign lender to directly employ members of the Chinese Communist…
LIVE NOW: Biden ‘Doing Well’ After Positive COVID-19 Test; ECB Hikes Rates, 1st in 11 Years | NTD Business
President Joe Biden tested positive for COVID-19 Thursday, but he assures Americans he’s doing well and getting work done. The European Central Bank is raising interest rates for the first time in over a decade, reversing years of loose monetary policy. HSBC bank could be the first-ever foreign lender to directly employ members of the Chinese…
Biden ‘Doing Well’ After Positive COVID-19 Test; ECB Hikes Rates, 1st in 11 Years | NTD Business
President Joe Biden tested positive for COVID-19 Thursday, but he assures Americans he’s doing well and getting work done. The European Central Bank is raising interest rates for the first time in over a decade, reversing years of loose monetary policy. HSBC bank could be the first-ever foreign lender to directly employ members of the Chinese…
UK Banks No Longer ‘Too Big To Fail,’ Says Central Bank
The biggest banks in the United Kingdom are no longer “too big to fail,” and could continue offering services even when facing a crisis, the Bank of England (BoE) said in a June 10 press release. The UK central bank works with financial institutions to minimize disruptions to the economy should the banks fail: a process…
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