GM swings to profit on cost cutting
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General Motors Corp.  said on  Wednesday it swung to a profit in the fourth quarter as it cut  costs and saw gains in its core auto operations.
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General Motors Corp.  on Wednesday said it swung to a profit with its delayed fourth-quarter results as it cut costs through a sweeping restructuring and saw gains in its core auto operations.
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General Motors Corp. GM.N on  Wednesday said its earnings fell 37 percent due to growing U.S.  health-care costs and bigger losses from its European  automotive operations.
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General Motors posted better-than-expected fourth quarter financial results, but indicated that its efforts to shave costs are not behind it as it offered buyouts to 74,000 employees - its entire U.S. hourly workforce.
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General Motors will cut around 10,000  jobs in Europe in a drive to save some 500 million euros  ($613.4 million) a year and return its loss-making operations  there to profit, a company source said on Wednesday.
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Ford Motor Co. F.N on Thursday  reported a quarterly profit, reversing a year-earlier loss, as  earnings from its finance arm offset weak automotive  operations.
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Ford Motor Co., the nation's second-biggest automaker, said Thursday it swung to a profit of $104 million in the fourth quarter from a loss of $793 million a year ago, when it incurred heavy charges for restructuring in Europe and a new agreement with its top supplier hurt the bottom line.
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General Electric Co., the world&#39;s largest company by market value, said third-quarter profit rose 11 percent as acquisitions and economic growth spurred the biggest quarterly sales increase in four years.
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General Motors Corp. said on Thursday it expects to significantly improve operating results, including earnings and cash flow, over the next two-to-three years.
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Defense contractor General Dynamics Corp. reported a 23 percent jump in profit in its third quarter yesterday despite escalating costs on a contract to build commercial oil tankers.
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General Motors Corp  told analysts on Thursday that it expected to cut annual U.S. labor costs by $5 billion and increase its revenues in all regions during 2008.
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General Motors Corp. GM.N on Thursday  led a late-day rally in auto stocks, one day after the world's  largest automaker posted dismal U.S. sales results for August  and cut vehicle production.
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General Electric Co.  posted a 9.6  percent rise in quarterly profit Friday on good results in its  commercial finance business and strong demand for products  ranging from jet engines to gas turbines.
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The food maker General Mills reported on Wednesday that its first-quarter profit rose 8 percent as rising revenue offset higher ingredient costs and increased spending on marketing.
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General Motors Corp. reported third-quarter earnings Thursday that were at the low end of the company&#39;s July guidance. Quarterly earnings rose to $440 million, or 78 cents per share, from $425 million, or 79 cents per share, a year ago.
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General Motors said that soaring health care costs and problems with its European division caused its fourth-quarter profits to fall by more than a third.
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General Motors Corp. GM.N said on  Thursday it expects earnings this year to fall due to lower  profits at its financial services unit and a $1 billion rise in  health-care costs.