Goldman expects $5 billion hit to quarterly earnings due to new tax law
December 29, 2017Wall Street drifts lower on last trading day of 2017
December 29, 2017Goldman to take one-time $5 billion hit to profit from new tax law
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(Reuters) – Goldman Sachs Group Inc said on Friday it expects fourth-quarter earnings to decrease by about $5 billion, as the bank looks to take advantage of a new tax law that makes it cheaper for U.S. companies to repatriate profits.
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