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U.S. banks gain from Washington policy changes but trade worries loom

Reuters  |  NEW YORK 

By Matt Scuffham and David HenryNEW YORK (Reuters) - Second-quarter earnings reports from three of the biggest U.S. banks on Friday showed the sector is benefiting from policy changes in Washington that have lowered their taxes, boosted interest rates and allowed them to buy back more stock.Investors were skeptical, worried that underlying businesses were not as strong as they could be and that tough talk from international leaders about trade tariffs and hardened borders could hurt their bottom lines."With the tariffs, there's this element of uncertainty and people aren't anxious to take ...

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First Published: Fri, July 13 2018. 23:23 IST
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