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Effective tax rate of $BF.A $BF.B for 3Q16 fell to 28.8% from 30% in the previous year quarter. The decline was primarily driven by rise in favorable impact of foreign earnings at lower rates, partially offset by rise in the U.S. tax related to effect of recurring permanent items and rise in tax expense related to discrete items.
The latest earnings report by $VZ shows how it is losing customers despite offering the unlimited data plans, a record for the company.
$BEBE is closing down all its stores by the end of May.
$WFC agreed to hike its payout in a class-action settlement over unauthorized accounts by $32 million to $142 million for its retail sales practices. The settlement will now include customers who were impacted as early as May 2002.