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Republicans get their tax bill, but ‘class warfare’ looms at midterms
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BMO raises dividend, but quarterly profit slides
BMO CEO Darryl White confirmed during the industry conference the bank’s prior guidance that it would reduce its net deferred tax asset by $ 400 million, but said it also expects a positive economic impact of $ 100 million annually.
RBC and BMO’s comments at an industry conference today comes after Toronto-Dominion bank yesterday said it expects its fiscal first-quarter results will be cut by roughly $ 400 million, but the lower corporate rate is expected to have a “positive” effect on its future earnings.