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General Electric reports higher than expected Q1 earnings

General Electric (GE) Company today reported higher than expected Q1 2010 earnings as the economy begins to show signs of recovery.

The company reported total revenue of $36.6-billion, down slightly from $38.4-billion in the same period last year. The company said total profits were $1.87-billion ($0.17 per share) in Q1 2010, compared to $2.75-billion ($0.26 per share) in Q1 2009.

Most of the losses stemmed from the aviation and rail industry as demand for products declined as a result of the credit crisis.

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Warren Buffett’s Berkshire Hathaway Takes on $250M Tiffany & Co Debt

Billionaire investor Warren Buffett’s Berkshire Hathaway has just purchased $125 million of eight-year bond notes and an additional $125 million in ten-year bond notes from luxury jewelry maker Tiffany & CO., meaning Berkshire Hathaway has effectively taken on $250 million of debt from the company. Both bonds are structured to yield Berkshire 10% According to Merrill Lynch, the average U.S. bond yielded 7.37% in 2008/ Tiffany & Co. says the new proceeds will be used to fund continuing operations and to refinance current debt.

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Air Canada Gets $98M in New Debt

Air Canada has just received $98 million in cash in a loan issued by General Electric Capital.  The money will be used to support continuing operations. Air Canada now has more than $400 million in new debt just from the last month. Air Canada has also said the company has had some trouble getting credit from traditional methods because of the financial crisis. The Air Canada stock is up about 15% following the news last trading day. The company, however, continues to struggle from weakening demand and volatile oil prices. Last week, American discount carrier Southwest greatly reduced its prices to try attract flyers during the holiday season who would otherwise not consider a trip because of the raising costs and tuff economic times.

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