Google parent Alphabet announces first-ever dividend, shares soar By Reuters
Alphabet announced first-ever dividend and stock buyback, driving stock up 16%, focusing on AI investment and beating expectations in sales and profit. [ more ]
Autoworker strike cost General Motors $1.1 billion
General Motors experienced a $1.1 billion hit in pretax earnings due to a strike by autoworkers.
GM plans to buy back $10 billion worth of stock and increase its dividend by one-third in January.
The company expects to generate more cash for the full year by cutting capital spending and slowing down spending on electric vehicles and its autonomous vehicle unit. [ more ]