Money Daily Brief: GE earnings drop
Updated 8:15 a.m. EDT (12:15 UTC)
鈥E earnings down: Poor performance by the financial arm of General Electric led to a to $2.4 billion. GE Capital posted a loss of 87 percent. Separately, and posted losses of $1 billion and $410 million, respectively.
鈥�Sony Ericsson posts losses: The European mobile phone joint venture due to slow sales. Still, Ericsson shares rose 2.25 percent on news that the company secured 鈧�455 million in financing.
鈥sian stocks down: After strong advances, Asian stocks on the back of product price cut forecasts by Korea's LG Display, the world's second largest liquid-crystal display makers, and disappointment with earnings from Goldman Sachs Group and Citigroup.
鈥il spurs Gulf: region rose as oil , the highest in a year, with Abu Dhabi stocks reaching an 11-month peak. Oil prices .
鈥n my backyard: Turbulence is forecast at troubled British Airways where unions representing cabin crew say that unless a deal with management is reached by Monday. The airline wants to save 拢140 million a year from its cabin crew budget while instituting changes to working practices.
鈥� Ben Quinn is a Monitor correspondent based in London. Where did all that stimulus money go, anyway? Check out the Monitor's take on the government's clearinghouse for stimulus data.
