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GM earnings beat lifts shares but U.S. strike weighs on outlook

Reuters Tuesday, 29 October 2019
General Motors Co on Tuesday slashed its earnings forecast for 2019, saying that a 40-day U.S. labor strike by the United Auto Workers union that brought virtually all of its North American operations to a standstill would cost it around $3 billion in profits this year.
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News video: Strike costs GM $3 bn in profit

Strike costs GM $3 bn in profit 00:50

The 40-day labor strike cost GM around $3 billion in profit this year, pushing the automaker to slash its earnings forecast. But as Fred Katayama reports, shares rose on its sales gain in the U.S..

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