GM 4Q earnings rise 16% as sales rebound at end of last year

( ) -q-26- UNDATED (Correspondent Jeremy House) “the Federal Reserve.”

Rising factory output led to strong U.S. sales at the end of last year, pushing General Motors’ fourth-quarter net income up 16% over the same period a year ago.

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TAG: Correspondent Jeremy House reporting. GM and other automakers had trouble keeping factories running at full output during 2022.

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VERBATIM: The Detroit automaker says it made $1.99 billion from October through December, or an adjusted $2.12 per share. That number beat Wall Street estimates. Quarterly revenue rose 28% to $43.1 billion, also beating estimates of $39.96 billion. The performance came against the backdrop of a slowing economy due to interest rate increases from the Federal Reserve.

GOP Rep. Santos steps down from committees amid ethics questions

Republican Congressman George Santos of New York is temporarily stepping down from his two congressional committees. A day after meeting with House Speaker Kevin McCarthy, Santos told GOP colleagues he would not serve on his two assigned committees amid ongoing ethics questions. he has faced numerous calls for his resignation and is facing multiple investigations by prosecutors over his personal and campaign finances and lies about his resume and family background. Republican Tom Cole of Oklahoma said the decision was well-received from the GOP conference, saying “I think it was the appropriate thing to do.”

McDonald’s Reports Stronger Sales In Fourth Quarter

Adult Happy Meals and other limited-time promotions boosted traffic at McDonald’s restaurants during the fourth quarter despite higher prices. The company says global same-store sales __ or sales at stores open at least a year __ rose 12.6% in the October-December period. That beat Wall Street’s expectations. U.S. sales soared in October after McDonald’s launched adult Happy Meals featuring limited-edition toys designed by the streetwear brand Cactus Plant Flea Market. But McDonald’s warned that higher prices for food, labor and energy will weigh on its operating margins this year, especially in the U.S. and Europe.

Former President Trump Kicks Off Campaign Events

The former President is kicking off his 2024 campaign with two stops along the East Coast. More from Correspondent Bernie Bennett.

Former President Donald Trump kicked off his 2024 White House bid with a stop Saturday in New Hampshire before heading to South Carolina, appearances in early-voting states marking the first campaign events since announcing his latest run more than two months ago.

Those states hold two of the party’s first three nominating contests, giving them enormous power in selecting the nominee.

Mr. Trump and his allies hope the events will offer a show of force behind the former president after a sluggish start to his campaign. In recent weeks, his backers have reached out to political operatives and elected officials to secure support for Mr. Trump at a critical point when other Republicans are preparing their own expected challenges.

Bernie Bennett reporting.

The United Methodist Church continues to shrink

The United Methodist Church continues to shrink

VERBATIM: Incredibly, more than 1,800 more congregations quit the denomination in 2022 — this after years of churches leaving over the on-going dispute around issues of homosexuality. There was an acceleration last year, however, likely due to the fact that UMC leaders are apparently ready to approve a formal split. The exodus is powered primarily by conservative churches that oppose the UMC’s embrace of same-sex marriage and homosexual ordination. Michael Harrington, SRN News.

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