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GM profit down but better than expected

General Motors has reported a drop in profits for the three months to June, due to lower vehicle sales and restructuring charges.

The car giant saw net income fall to $2.4bn (£1.8bn), down from $2.8bn a year earlier.

However, the results were still better than Wall Street analysts had expected.

Exceptional items included $100m to write off the firm’s Venezuela operation, which was seized by the government there in April.

Source: business

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