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Money Daily Brief: GE earnings drop

Bank of America, Halliburton and General Electric all posted third quarter losses.

Updated 8:15 a.m. EDT (12:15 UTC)

•GE 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.

•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 €455 million in financing.

•Asian 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.

•Oil spurs Gulf: region rose as oil , the highest in a year, with Abu Dhabi stocks reaching an 11-month peak. Oil prices .

•In 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 £140 million a year from its cabin crew budget while instituting changes to working practices.

— 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.