Friday, April 11, 2008

World markets soured by poor GE profits

Go to Financial Times original
World stock markets slumped and the dollar fell on Friday after first quarter results from industrial bellwether General Electric missed analysts’ estimates, re-igniting concerns for corporate profits amid ongoing financial market turmoil and fears for the US economy.

GE said earnings from continuing operations fell 12 per cent to $4.36bn, blaming disruptions in global capital markets which made it unable to complete asset sales and led to bigger-than-expected losses at its finance businesses.


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