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
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
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
Market bull Jeff Saut told CNBC on Tuesday that the lows are in and the market is headed "much higher."Marketsread more
Urban Outfitters reported earnings and same-store sales for the second quarter that beat analyst expectations, while revenue fell short.Retailread more
President Donald Trump believes he has quite the bargaining chip with the European Union.Marketsread more
Some Apple employees have become disillusioned with the group's culture, where some have thrived while others feel sidelined.Technologyread more
The United States does not have a defense against hypersonic weapons, which can travel at least five times the speed of sound, or a little more than a mile per second....Defenseread more
President Donald Trump renewed calls Tuesday to readmit Russia to the G-7 ahead of the group's summit in Biarritz, France, this weekend.Politicsread more
Biden has shown staying power at the top of a jammed Democratic field even as polling numbers for Sanders, Warren and Harris wax and wane.2020 Electionsread more
The FDIC on Tuesday votes to approve a five-agency revision of the post-crisis regulation known as the Volcker Rule.Financeread more
(Adds vote details, comments from CFO)
TARRYTOWN, N.Y., May 8 (Reuters) - General Electric Co Chief Executive Larry Culp said on Wednesday the company will likely have weaker quarters in the rest of the year after a surprisingly "good start" in the first quarter.
GE's results "will balance out" through 2019 and its forecast is unchanged, Culp said at the company's annual meeting.
Shareholders elected GE's slate of directors and all management proposals passed, company officials said at the meeting.
GE set its 2019 financial targets last week, which call for a cash outflow of up to $2 billion.
"It's still tough to say that out loud," Culp said, referring to the $2 billion number. "But that's the reality."
Before the meeting, Chief Financial Officer Jamie Miller told reporters that one of the biggest changes under Culp is that GE is focusing on operations in quarterly reviews of its business.
In the past, such reviews were more "high level" and focused on the financial results first and operations second, she said, noting she and Culp met with aviation on Monday, healthcare on Tuesday and plan to meet with the power business in about two weeks. (Reporting by Alwyn Scott; Editing by Meredith Mazzilli)