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Buffalo's largest bank said Monday that its first-quarter profits rose 1 percent because of higher revenues and the sharp drop in the federal tax rate, even after setting aside an additional $135 million to cover expenses for a pre-existing lawsuit. M&T Bank Corp. reported profits of $353 million, or $2.23 per share, up from $349 million or $2.12 per share in the sa…

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Higher U.S. defense spending could boost Moog Inc., in what the company already expects to be a solid year. "There's more and more talk about, the U.S. has to increase the military budget," said John Scannell, chairman and CEO of the Elma-based aerospace manufacturer. "We think it's also going to be a positive in the long term." In the past, when the federal governme…