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Global Markets: Royal Bank reaps strong profit

By Commodity News Service Canada

WINNIPEG, Feb. 23, 2018 – General Mills Inc. is getting into the pet food business. The maker of Cheerios is buying Blue Buffalo Pet Products Inc. in a deal worth US$8 billion. Last year Blue Buffalo earned more than US$1 billion in annual sales.
Royal Bank of Canada earned a first-quarter profit of C$3 billion, exceeding most analysts’ expectations. Much of the profit came from the bank’s commercial and personal banking services. As well, RBC earned C$258 million from its residential mortgage sector.
The First National Bank of Omaha is pulling its NRA-branded credit card off the market. The bank says it is withdrawing the VISA card due to customer feedback in the wake of a school-shooting in Florida that claimed 17 lives. There are also consumer-led efforts to have Amazon pull NRATV off its website.

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