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GE pushes back Q3 earnings release to October 30

first_img GE shares at 9-year low amid latest power woes The company postponed the release by a week “to allow GE Chairman and CEO Larry Culp to complete initial business reviews and site visits following his appointment on October 1,” it said in a statement The company postponed the release by a week “to allow GE Chairman and CEO Larry Culp to complete initial business reviews and site visits following his appointment on October 1,” it said in a statement.”The company will discuss the results for the third quarter ending September 30, 2018. Culp will share his initial observations, with more detail expected in early 2019.”H. Lawrence “Larry” Culp, 55, is GE’s third CEO in 14 months following the ouster of John Flannery.In announcing Culp’s rise, the company, which was bumped from the prestigious Dow Jones Industrial Average in June, cited his history as chief executive of the industrial and healthcare conglomerate Danaher, where GE said he presided over a quintupling of market capitalization. Culp was named to the GE board earlier this year.GE’s other bombshell was that it planned to write down effectively up to $23 billion in value from its troubled power business, the prime catalyst of its nosedive in stock market valuation. Citation: GE pushes back Q3 earnings release to October 30 (2018, October 13) retrieved 17 July 2019 from https://phys.org/news/2018-10-ge-q3-october.html General Electric, the once-mighty conglomerate which weeks ago announced a new chief executive in a move meant to stem a two-year decline, has said it will move the date of its third-quarter earnings release to October 30.center_img © 2018 AFP Explore further This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only.last_img read more

Air strikes on Syrian rebel enclave intensify monitor

first_img Related News BEIRUT (Reuters) – Air strikes targeted rebel-held cities in northwest Syria on Friday, a war monitor reported, widening bombardment of the last major insurgent enclave to areas that had mostly escaped it. The strikes killed three people in Idlib and three in Maarat al-Numan, two of the largest cities in the region, the Britain-based Syrian Observatory for Human Rights reported. Another nine people were killed elsewhere in the enclave, it said. President Bashar al-Assad’s government, backed by Russia, has waged a major assault against the northwestern enclave since the end of April in a battle the Observatory says has killed nearly 2,450 people. Related News World 10 Jul 2019 Assad hits a wall in Syrian war as front lines harden {{category}} {{time}} {{title}}center_img Syria’s eight-year war has killed half a million people, driven half the pre-war population of 22 million from their homes, inspired a wave of militant attacks around the globe, and dragged in regional and world powers. Aid agencies say the scale of bombardment in the north west risks further humanitarian disaster. Hundreds of thousands of people have already fled towards the Turkish border. While both Idlib city and Maarat al-Numan were heavily targeted by airstrikes in earlier phases of the war, they have not been a major focus of bombardment in recent months, with the military more focussed on hitting areas near the front lines. There was a surge of violence this week on the area of Tel Hamamiyat on the southwestern edge of the enclave, where pro-government al-Watan newspaper and rebel statements reported major fighting. A spokesman for the local government controlling most of the enclave, which is held predominantly by jihadist factions, said Friday prayers had been suspended in several cities due to the air strikes. More than two months of Assad’s Russian-backed assault in and around Idlib province have yielded little or no military gains, marking a rare case of a campaign that has not gone his way since Moscow joined his war effort in 2015.Turkey, which backs some rebel groups in northwest Syria and controls an adjacent zone along its own border, agreed a truce last year with Russia to reduce warfare around the enclave. Those areas, and the quarter of Syria east of the Euphrates river which is held by U.S.-backed Kurdish groups, are the only parts still out of Assad’s control. (Reporting by Angus McDowall in Beirut and Sarah Dadouch in Istanbul; Editing by Andrew Cawthorne) World 07 Jul 2019 Russian-led assault in Syria leaves over 500 civilians dead – rights groups, rescuers World 10 Jul 2019 Exclusive: New chemical weapons team to launch first Syria investigationslast_img read more