Economist jan 2014 pdf

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Some of the other major US banks, for example JPMorgan, will also be deducting large sums (in its case $2.4bn) from its earnings as a once-off adjustment for lower tax rates to come.

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It will be making enough of a tax charge to its earnings – as much as US$20bn – for the bank to become loss making in 2017.

Special reports The <strong>Economist</strong>

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This is the case with a number of the very large US banks reporting or about to report their latest results.

Special reports The Economist

Wells Fargo by contrast was able to add $3.35bn to its earnings, as was another large bank, PNC, which added about 9c to its reported earnings of $4.18 a share.


Economist jan 2014 pdf:

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