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In the third quarter, General Electric recorded a net loss of $22 billion 810 million against a net profit of $1 billion 320 million over the same period of 2017. Adjusted earnings of 14 cents per share were lower than experts' forecast of 20 cents per share. Revenues of $29 billion 570 million dollars also fell short of economists' expectations of 29 billion 770 million dollars. The decline for the year was 4%. The revenue of the energy technology business fell by 33%. The renewable energy division increased revenue by 15%. Aircraft business increased revenue by 12%, oil and gas – by 7%.
On Friday, Caterpillar Inc (CAT.N) announced a lower second-quarter profit because of the recession caused by the coronavirus outbreak. The decline was due to lower sales volume and changes in dealer inventories. During the second quarter ...
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
Samsung Electronics Co Ltd looks forward to the second half of the year as it expects a larger increase in chip demand brought by new smartphone launches. However, the company warned that the coronavirus crisis and trade disputes carry risks. Samsung, ...
The second quarter had seen Australian consumer prices dropping by a record. This could be attributed to the coronavirus crisis dragging child care cost and petroleum prices, inflicting a serious damage to years of growth toward higher inflation. Last ...
Indonesia on Wednesday rolled out a 100 trillion Rupiah ($6.92 billion) loan guarantee scheme for prioritized businesses to keep them afloat as the COVID-19 situation continued to worsen around the world, the country’s finance minister ...
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