Global Glance: GM reports record 3Q earnings; Plunging solar equipment prices fuel trade complaints

Powered by The Associated Press

Here are today’s top business headlines from across the nation and world:

What’s next for AT&T merger? A look back at Comcast-NBC

NEW YORK (AP) — AT&T is following in the footsteps of its rival Comcast in snapping up its own entertainment conglomerate – in this case, Time Warner. But what’s happened in the aftermath of Comcast’s 2011 purchase of NBCUniversal may cast a shadow over AT&T’s deal. Like that earlier transaction, the $85.4 billion combination of AT&T and Time Warner would create a giant new company that not only produces movies, TV shows and sports and news programming but also delivers them to viewers. Read more

GM reports record 3Q earnings despite slowing US sales

DETROIT (AP) — General Motors reported a record third-quarter profit that doubled results in the same period a year ago, despite falling sales and market share in the U.S. The Detroit automaker earned $2.77 billion, or $1.76 per share, compared with $1.36 billion, or 84 cents per share a year ago. Sales in the U.S., GM’s most lucrative market, fell nearly 4 percent through September. But GM said its strategy to cut low-profit sales to rental car companies and focus on sales to individual buyers, a strong performance in China and cost cuts led to the record. Read more

Plunging solar equipment prices fuel trade complaints

BEIJING (AP) — Use of solar power is soaring, but Europe’s biggest solar panel manufacturer, SolarWorld, took the surprise step last month of cutting 500 jobs from its workforce of 3,000. The reason? Global sales are on track for a record year but prices are plunging due to a glut of supply. That is encouraging the spread of clean energy but squeezing manufacturers, leading to politically sensitive job losses. Read more

Report: Gunmen still control metals mined for modern gadgets

SAN FRANCISCO (AP) — Violent gunmen still menace pick-and-shovel miners in eastern Congo, a new report finds, despite years of efforts to loosen their grip by local reformers, Western activists and companies like Apple and Intel that use minerals from the African region in their products. Conditions are improving for miners who dig the ore that’s processed into tin, tungsten and tantalum for smartphones and other electronics, though some still face interference from armed groups. But slumping demand and depressed prices for those minerals have driven many workers to dig instead for gold that’s used in electronics, jewelry and other consumer products sold by Western companies. Read more

Trump brand loses luster with affluent

NEW YORK (AP) — Donald Trump is in danger of losing not just the presidential election, but something dear to a man who claims the marketing value of his name alone is worth $3 billion: the many customers, mostly wealthy, who have stayed at his hotels, played a round at his golf courses or held galas at his oceanside resorts. Experts say the Trump brand is tarnished and at a tricky crossroads as his appeal shifts from the well-heeled, high-income people he has long courted to a more middle-class base, including the fervent fans he cultivated during the campaign. Read more


General Mills milks Girl Scout Cookie popularity with cereal

If you just can’t get enough of Girl Scout Cookies, rejoice – you can soon have them for breakfast. General Mills confirmed Monday that it will be introducing a limited-time Girl Scout Cookie cereal line in January. The Minneapolis company said it will come in two flavors – caramel crunch and thin mint. Read more


Despite warnings, extremely dangerous air bags not repaired

DETROIT (AP) — Owners of more than 300,000 Hondas have yet to get their air bags repaired, despite warnings from the automaker and regulators that the inflators have an extremely high chance of rupturing and causing injury or even death. Last week authorities said one of those air bags, equipped with an inflator made by Takata Corp., ruptured and killed a California woman, adding urgency to the search for the noncompliant vehicles. Read more


Want the state’s top business and entrepreneurship news in your inbox? Sign up here for our newsletters.

Leave a Reply

Have you heard?

Missouri Business Alert is participating in CoMoGives2019!

Find out how we plan to use your gift to enhance training and programming for our students