HSBC’s Deal With RBC Upends Canada’s Foreign Investment Data
The foyer of the former HSBC Canada head office in Vancouver..
Photographer: Paige Taylor White/BloombergThis article is for subscribers only.
Royal Bank of Canada’s landmark deal to acquire HSBC Holdings Plc’s Canadian division led to the country’s first decrease in foreign direct investment in 14 years.
Foreigners withdrew C$6.2 billion ($4.5 billion) in direct investment funds in the first quarter, Statistics Canada reported Thursday from Ottawa. That’s the first such outflow since 2010.