There was further positive news on Wall Street today from General Electric which reported a 14 per cent rise in second-quarter earnings and said it would meet full-year targets.
The company said earnings rose from $3.9 billion to $4.4 billion on revenues up 4 per cent to $33.2 billion. Earnings per share were 44 cents, in line with expectations.
NBC, medical systems, power systems, appliances and eight GE Capital businesses reported double-figure earnings growth in the second quarter.
The company said overall revenues at GE Capital were 4 per cent lower and earnings were 10 per cent as a result of losses connected to Worldcom and ERC.
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NBC, the television network, claimed seven of the quarter's 10 highest-rated prime time programmes.
AFP