(Reuters) - Bank of America Corp's quarterly profit was nearly chopped in half by tax-related charges but the lender's management promised the new U.S. tax system would eventually benefit shareholders. The tax overhaul, signed by U.S. President Donald Trump late in December, is taking a chunk out of Wall Street profits this quarter as lenders swallow one-time charges on overseas earnings and account for tax benefits that are now less valuable because of the lower corporate rate.
Bank of America Corp's fourth-quarter profit nearly halved as it booked a $2.9-billion charge stemming from the new federal tax law. The lender's net income fell to $2.37-billion, or 20 cents per share, for the quarter ended Dec. 31 from $4.54-billion, or 39 cents per share, in the year earlier period. Excluding the tax charge, the lender earned $5.3-billion, or 47 cents per share.
Jan 17 (Reuters) - Bank of America Corp's net profit nearly halved compared with a year earlier as it booked a $2.9 billion charge stemming from the new federal tax law although it beat analysts' estimates when adjusted for the charge. The lender joined other large U.S banks, including JPMorgan Chase & Co and Citigroup Inc, in reporting multi-billion dollar charges because the new law requires them to reassess their deferred tax assets and pay tax on profits kept abroad.
Pooooor accountants:“You find yourself reading pages and pages of legislation trying to figure out what it means,” PwC’s Mr. Katz said. “It’s like a big jigsaw puzzle.” https://t.co/FYVrA2QOfo#wealthmanagement
Muck Rack makes it simple to find people, tweets, or articles that mention any name, keyword, company, hashtag etc. We've compiled this guide to help you make the most of your search.
Selecting a term
Start searching tweets, articles from media outlets, articles mentioned in tweets, journalists'
names, titles and bios with some suggested searches:
Companies or Topics (e.g. iPhone, Microsoft)
Phrases (e.g. "cloud computing") — use quotes to keep the terms together
Twitter handles (e.g. @username) — returns those who have mentioned or replied to
Names (e.g. "David Pogue")
Hashtags (e.g. #sxsw, #london2012)
Bio details (e.g. vegan, Olympics, father)
Muck Rack's Advanced Search allows for many boolean operators.
Find results that mention multiple specified terms, use AND or
+. For example, ensure each result contains both Elon Musk and Mark Zuckerberg by
searching Musk AND Zuckerberg or Musk + Zuckerberg.
Use the operators OR or , to broaden your search when you'd like either of
multiple terms to appear in results. (This is the default behavior of our search when no operators
are used). For example, results will contain either cake or cookie by searching cake OR cookie or cake,cookie
Use NOT or - to subtract results from your search. For
example, searching Disney will yield results about the Walt Disney Company as well as Walt Disney
World Resort. To exclude mentions of Disney World, search for Disney -World or Disney
When using one of these operators with a phrase, enclose it in quotation marks. For example, you can
find results about smartphones excluding Apple's iPhone 4S by searching smartphone -"iPhone
Exact case matching or punctuation
If you're searching for a brand name or keyword that relies on specific punctuation marks or capitalization, you can
find results that match your exact query by adding matchcase: before the keyword you're searching for, like matchcase:E*TRADE .
Use parentheses to separate multiple
boolean phrases. For example, to find journalists talking about having fun in Disney World or
Disneyland, search for ("disney world" OR disneyland) AND fun.
An asterisk can be used to search for any variation of a root word truncated by the asterisk. For example, searching for admin* will return results for administrator, administration, administer, administered, etc.
A near operator is an AND operator where you can control the distance between the words. You can vary the distance the near operation uses by adding a forward slash and number (between 0-99) such as strawberries NEAR/10 "whipped cream", which means the strawberries must exist within 10 words of "whipped cream".