Royal Bank of Canada (RY,RY.TO) said it has resolved several tax matters and would release nearly $130 million of tax uncertainty provisions recorded earlier against businesses which were discontinued in previous years. Further, RBC would earn interest income of $70 million or $50 million after-tax in relation with a refund of taxes paid in previous years.
The company noted that the financial impact of this settlement would be reflected in its third quarter results.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.