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.

Biden, McCarthy to discuss debt limit on Wednesday

House Speaker Kevin McCarthy will meet with President Biden at the White House this week. Wednesday’s meeting will be their first sit-down since McCarthy became speaker. Topping the agenda is lifting the debt ceiling so the government can pay bills it already incurred. The two leaders have different approaches. The president wants to increase the debt limit without any conditions, while the speaker wants to include spending cuts in any agreement. However, McCarthy is pledging that cuts to Social Security and Medicare will be off the table.

Former Twitter Executives To Testify Before House Oversight Panel

Former Twitter executives are scheduled to testify next month on the company’s role in stifling a story about Hunter Biden’s laptop in the weeks before the 2020 election. The former executives will testify before the House House Oversight and Accountability Committee.

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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