The news at a glance

General Motors: A return to profitability; Health care: Universal buys mental-health chain; Drugs: Japan’s Astellas buys American; Privacy: Google snooped on Wi-Fi networks; Insurance: Prudential nearly set to buy AIA

General Motors: A return to profitability

General Motors this week announced it earned $865 million in the first three months of the year, its first quarterly profit in three years, said Sharon Terlep in The Wall Street Journal. The automaker said strong sales in North America offset weakness in Europe and China. The company also reaped cost savings from “layoffs, factory closings, and billions in debt shed through bankruptcy.” Since the company emerged from bankruptcy 10 months ago, global sales have increased by 24 percent. But GM Chief Financial Officer Chris Liddell warned that first-quarter results “aren’t necessarily stable for the rest of the year.”

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE
https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up
To continue reading this article...
Continue reading this article and get limited website access each month.
Get unlimited website access, exclusive newsletters plus much more.
Cancel or pause at any time.
Already a subscriber to The Week?
Not sure which email you used for your subscription? Contact us