Shares in GE slump 5% as Covid-19 pandemic ravages aviation industry – hits second-quarter earnings hard
Reporting cash outflow of US$2.1 billion from its industrial operations – well below an anticipated US$3.5 billion – US$4.5 billion, shares in the Boston, U.S.-based conglomerate fell 5%. The aviation unit of the company, which is usually the most profitable, was hardest hit in terms of sales and orders. This unit, which makes engines for …