Goldman Sachs (logo seen in New York stock exchange) is expecting a $5 billion hit to profits during the fourth quarter because of the tax overhaul recently signed into law. The New York bank said on Frisday that two thirds of the $5 billion are due to changes in repatriation taxes, when funds are returned from overseas. Photo: AP

Donald Trump’s tax changes to blow a US$5 billion hole in Goldman Sachs’ profits

Topic |   Goldman Sachs

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Goldman Sachs (logo seen in New York stock exchange) is expecting a $5 billion hit to profits during the fourth quarter because of the tax overhaul recently signed into law. The New York bank said on Frisday that two thirds of the $5 billion are due to changes in repatriation taxes, when funds are returned from overseas. Photo: AP
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