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Wall St higher over potential tax-cut benefits; Accenture hits record high

AT&T, Wells Fargo and Boeing, have promised higher pay for workers or more investment in training

Reuters 

Wall Street's main indexes rose on Thursday as investors expected lower corporate tax rates to encourage companies to spend their additional capital on dividends, new projects and wage hikes. The U.S. Congress approved a $1.5-trillion tax cut bill this week, with the highlight being a corporate tax cut to 21 per cent from 35 per cent. A number of companies, including AT&T, Wells Fargo and Boeing, have promised higher pay for workers or more investment in training. Some others have forecast a rise in earnings due to tax cuts. "The impact is still a work-in-progress, ...

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First Published: Thu, December 21 2017. 22:50 IST
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