From the FINANCIAL TIMES:
General Motors returned to profitability in the first quarter for the first time in three years, with net earnings of $865m.
The turn around at the Detroit carmaker, which is now a private company controlled by the US government, was due mainly to a sharp improvement in its core North American operations, which swung to a $1.2bn operating profit, from a loss of $3.4bn in the fourth quarter of 2009.
The operating loss at GM Europe narrowed to $506m from $814m in the previous three months, while other international operations boosted earnings to $1.19bn from $738m. Cash flow totaled almost $1bn in the quarter, compared with a $2.9bn drain in the previous three months…
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