Baker Hughes, General Electric
Co's oilfield services arm, reported a
better-than-expected quarterly profit on Wednesday, helped by
higher activity in LNG markets and rise in international demand
for oilfield services.
General Electric Co swung back to
a financial loss in the second quarter, as the cost of
restructuring its ailing power business and the grounding of a
Boeing Co jetliner model drained more cash than expected
from GE's otherwise profitable industrial units.
Hong Kong's economy grew less
than expected in the second quarter as the U.S.-China trade war
escalated, and pressure looks set to intensify as mass
anti-government protests rock the Asian financial centre.
Carlyle Group LP emulated its
peers on Wednesday with plans to convert from a publicly traded
partnership into a corporation, and went one step further by
announcing it will become the first U.S. private equity firm to
hold shareholder votes.