Goldman Sachs says US tax reform to cut earnings by $5 bn

US banking giant Goldman Sachs said Friday the recently-enacted US tax reform will cut its earnings this year by about $5 billion, mainly because of a tax targeting earnings held abroad. The tax reform package is expected to “result in a reduction of approximately $5 billion in earnings for the fourth quarter,” the company said in… Please follow and like us:

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HSBC Q3 profits up five-fold to $4.6 bn on booming Asia

Profits at banking giant HSBC leapt five fold in the third quarter to $4.6 billion, the company said Monday, as business booms in Asia and a huge restructuring drive bears fruit. The massive jump in pre-tax profits came weeks after a new chief executive was unveiled as part of a management overhaul that has seen the… Please follow and like us:

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