{"text":[[{"start":9.64,"text":"Jet engine maker GE Aerospace boosted its outlook for the remainder of the year, expressing optimism that easing trade tensions between the US and China should prevent a steep drop-off for its business in the world’s second-largest economy."}],[{"start":26.67,"text":"The rosy outlook accompanied an announcement of a forecast-beating second quarter, aided by a big order from Qatar Airways and easing economic concerns, and a pledge for a 20 per cent increase in capital returns to shareholders over the medium term."}],[{"start":45.400000000000006,"text":"Although US reporting season is in its early stages, the sense of pessimism has receded among some businesses from three months ago as Trump has scaled back some of his tariff plans, while the passage of his flagship tax bill and easing tensions in the Middle East have also helped sentiment."}],[{"start":65.88000000000001,"text":"GE chief executive Larry Culp extended sympathies to the families and friends of those that died in Air India’s fatal crash on June 12. GE’s engines powered the Boeing Dreamliner jet, and Indian investigators’ preliminary report into the crash last week recommended no actions to be taken against GE and Boeing. Culp said the company would keep working with regulators."}],[{"start":91.11000000000001,"text":"Chief financial officer Rahul Ghai told analysts on Thursday that the aerospace and defence group still expected the net impact of tariffs would be $500mn, unchanged from the company’s April prediction."}],[{"start":106.71000000000001,"text":"GE boosted guidance for the remainder of 2025, lifting its forecast ranges for operating profit and free cash flow. The Ohio-headquartered company said it forecast “mid-teens” percentage growth in adjusted revenue, having guided towards “low-double-digits” growth in April."}],[{"start":126.95,"text":"Ghai told analysts that in the absence of the US imposing reciprocal tariffs on China, there was “reduced risk” for engine and spare parts deliveries to the world’s second-largest economy, an important growth market for GE. Ghai said the situation gave them confidence to increase their revenue outlook for its commercial engines division, which represents more than 70 per cent of the company’s total revenue."}],[{"start":153.88,"text":"The US has reached trade deals with the UK, China, Vietnam and Indonesia, though it has only produced a written agreement with Britain."}],[{"start":163.01999999999998,"text":"Culp commended the trade agreement between Washington and London, which ensured that UK exports of jet engines and other aerospace components to the US would be tariff free. He said the deal should represent a “strong framework” for future trade agreements."}],[{"start":179.92,"text":"The company expects to increase capital returns to shareholders from 2024 to 2026 by 20 per cent, to $24bn. The company said it planned to return at least 70 per cent of free cash flow via dividends and buybacks beyond 2026."}],[{"start":201.5,"text":"GE also lifted its outlook for 2028, including a forecast for double-digit compound annual growth in adjusted revenue for 2024 to 2028. In March 2024, when it issued its 2028 outlook, it expected a high-single-digit rate."}],[{"start":222.45,"text":"In the three months ended June 30, GE reported revenue of $11bn, up 21 per cent from a year ago. Net income jumped 60 per cent to $2bn."}],[{"start":238.88,"text":"GE shares were down 2 per cent in early trading on Wall Street on Thursday."}],[{"start":253.01,"text":""}]],"url":"https://audio.ftmailbox.cn/album/a_1752801885_7142.mp3"}