The bond market has entered a financial twilight zone, and at this point, there doesn't seem to be a smooth way out.Market Insiderread more
"I think (rate cuts) will help, but whether they're going to be sufficient to counter the negative trade pressures and global growth slowdown and impact is debatable," one...Central Banksread more
China has used both monetary and fiscal measures to lift economic activity as its trade war with the U.S. looks set to intensify in the coming months.China Economyread more
Alibaba held a board meeting before its latest quarterly earnings release last week, during which the board decided to postpone the Hong Kong listing, Reuters reported.Technologyread more
President Donald Trump said on Twitter he was postponing a scheduled meeting with Denmark's prime minister because of her lack of interest in discussing a possible sale of...World Politicsread more
The two countries want to smash the civil aerospace duopoly enjoyed by Airbus and Boeing.Aerospace & Defenseread more
Federal Reserve Chairman Jerome Powell is set to deliver his annual speech on Friday at the Jackson Hole, Wyoming symposium, where he's expected to provide more clarity on the...Asia Marketsread more
After Elon Musk touts Tesla solar on Twitter, Walmart sues the electric vehicle and clean energy company over store rooftop panels that ignited.Technologyread more
U.S. and Asian investors poured $3.7 billion into U.K. tech start-ups in the first seven months of 2019, research shows.Technologyread more
Trump said he has "been thinking about payroll taxes for a long time" — and he cautioned that "whether or not we do something now, it's not being done because of recession."Politicsread more
Secretary of State Mike Pompeo privately told business executives and free traders that the trade war could end by the 2020 election and that hurdles to an immediate agreement...2020 Electionsread more
General Electric shares rose in premarket trading as CEO Larry Culp gave investors on Thursday an upbeat long term outlook on the company's struggling power business.
"We will have a greater level of negative cash flow in [the power] business this year," Culp told CNBC's Morgan Brennan.
GE's power business saw negative cash flow of $2.7 billion in 2018 and Culp warned that "it will be worse" in 2019. But it's "game on" this year, Culp said, as he aims to get things back on track.
"From there will get significantly better in 2020, and we expect positive free cash flow in 2021," Culp said.
GE closed up 2.8 percent on Thursday at $10.30 a share.
At the core of GE's two-year stock fall is the company's failure to forecast a downturn in demand for its turbines, the titanic machinery that powers natural gas and coal-fired power plants. GE ended up with little demand for power plant equipment. GE forecasts the market for gas-powered turbines will remain stagnant through 2020.
"Power is in a serious turnaround mode. This is not going to be quick, by any stretch," Culp said on the company's conference call on Thursday.
GE power was also hit by an issue with the next generation turbines the company had recently put into the field. While the an oxidization issue "created cracking" in the turbines, Culp said last week that GE has now "upgraded about 23 of the 33" turbines in operation.
Even as the business continues to struggle, Culp pointed to the years ahead. GE said in its outlook that power will be "significant better but negative" in 2020.