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The company said it now expects adjusted earnings before interest, tax, depreciation and amortization (EBITDA) of $1.3 billion for the year, having previously said it expected $1.2 billion to $1.3 billion letter cufflinks uk sale. The year-ago figure was $1.6 billion. Smith said he expected underlying profit to improve next year. For the third quarter, Thomson Reuters reported a smaller-than-expected fall in profit. Earnings per share were 11 cents, adjusted for one-time items, down from 27 cents a year ago, hurt by a higher tax expense. That beat analysts’ average estimate of 3 cents, according to IBES data from Refinitiv..
Overall revenue rose 3 percent, excluding the effect of fluctuating exchange rates, to $1.29 billion. Analysts had expected revenue of $1.32 billion, on average. Excluding exchange rate effects, Legal revenue rose 4 percent, Tax & Accounting revenue rose 3 percent and revenue from Reuters News fell 4 percent letter cufflinks uk sale. Adjusted EBITDA fell 21 percent, excluding the effect of exchange rates, to $302 million, due to the higher income tax expense from the company’s continuing operations, offsetting higher earnings from its discontinued operations..
(Reuters) – Wells Fargo & Co (WFC.N) said on Tuesday an internal underwriting error had caused it to reject home loan modifications, resulting in the bank foreclosing more homes than expected. The bank said in a filing with regulators that an expanded review found that 870 customers were incorrectly denied mortgage changes, leading to 545 of them losing their homes letter cufflinks uk sale. This comes after the bank in August had for the first time disclosed a calculation error in an internal underwriting software had caused 625 borrowers to be incorrectly denied mortgage loan modifications under a federal assistance program, 400 of whom had their homes foreclosed upon..
“We’re very sorry that the errors occurred and have assigned a single, dedicated point of contact to ensure that each customer is engaged with and assisted individually,” Tom Goyda, a spokesman for the company, said in an email. The company said the expanded review is still under way and took into account customers who were in the foreclosure process between March 15, 2010, and April 30, 2018 letter cufflinks uk sale. Goyda said the bank had contacted a substantial majority of the affected customers to provide remediation as well as the option to pursue no-cost mediation with an independent mediator..
The revelations are an additional headache for the San Francisco-based bank which is facing numerous regulatory penalties and private lawsuits, most of which stem from a sales practices scandal that touched on all of the bank’s major business units. The bank said the issue stems from a calculation error that overstated attorneys’ fees that were needed in determining whether a customer qualified for a mortgage loan modification or repayment plan. In August, the bank said it rectified the calculation errors and had set aside $8 million to compensate borrowers letter cufflinks uk sale. On Tuesday, the bank, however, did not update that figure..