GE CEO expects cash flow to turn positive in second-half of 2020, shares surge

General Electric Co’s GE.N shares surged on Wednesday after Chief Executive Officer Larry Culp said the industrial conglomerate’s free cash flow would turn positive in the second half of this year. The company’s shares, which have fallen about 45.4% so far this year, were last trading up about 11% at $6.77 in afternoon trade. Culp’s […]

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Fading fiscal stimulus restraining U.S. consumer spending

U.S. consumer spending slowed in August, with a key retail sales gauge unexpectedly declining, as extended unemployment benefits were cut for millions of Americans, offering more evidence that the economic recovery from the COVID-19 recession was faltering. The report from the Commerce Department on Wednesday ramped up pressure on the White House and Congress to […]

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