REUTERS: General Electric Co reported a smaller quarterly loss and a retuepositive cash flow on Wednesday, as the company cut costs in its aviation unit and saw improvement in revenue in its power business.
Cash flow for its industrial operations was US$514 million in the third quarter, compared with the average analyst estimate of an outflow of US$876 million.GE said it expects industrial free cash flow to be at least US$2.5 billion in the fourth quarter and positive in 2021.Revenue at GE's aviation unit fell 39per cent in the quarter compared with last year, while in the power business it rose 3per cent.
The loss from continuing operations attributable to GE shareholders shrank to US$1.2 billion in the third quarter ended Sept. 30 from US$9.5 billion a year earlier.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
New business jet travelers help fuel order recovery during pandemicAffluent travelers avoiding commercial flights during the pandemic are helping fuel a recovery in pre-owned corporate aircraft transactions this ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Airplane Covid-19 risk 'very low' with face mask usage but risks remain: Harvard reportThe report found transmission risks can be 'reduced to very low levels through the combination of layered infection control measures.'. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
Europe: Stocks hit mid-June low on report France mulling national lockdown[BENGALURU] European stocks hit their lowest level since mid-June on Wednesday following a report France was mulling a month-long national lockdown to combat a surge in coronavirus infections. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Singapore stocks open lower, tracking Wall Street tumble; STI down 0.4%SINGAPORE shares opened lower on Tuesday, tracking sharp losses on Wall Street overnight. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
COVID-19 pandemic deepens Japan's national crisisTumbling numbers of pregnancies and marriages in Japan during the coronavirus pandemic are likely to intensify a demographic crisis in the rapidly ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
SAF officers press on to finish command and staff courses despite Covid-19 pandemicSINGAPORE - National serviceman Captain Abdul Haniff Bin Abdul Khalik was about three months into his Command and Staff Course (CSC), which prepares servicemen for more senior appointments in the Singapore Armed Forces (SAF), when the circuit breaker forced all lessons to be moved online.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »