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BNY Mellon loses U.S. tax case, to take $850 million profit hit

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BOSTON (Reuters) – BNY Mellon Corp said on Monday it will take an $850 million charge against first-quarter profit after losing a high-stakes tax case to the U.S. Internal Revenue Service, a move that will also erode some of its capital.

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Post Published: 12 February 2013
Found in section: Finance

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