GM takes $5 billion hit from struggling business in China

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told shareholders on Wednesday that it would record more than $5 billion in two non-cash charges in the fourth quarter due to ailing business in

General Motors Chairman and CEO Mary Barra speaks about the financial outlook of the automaker on Tuesday, Jan. 10, 2017, in Detroit, Michigan. In October, GM CEO Mary Barra told investors there would be “a significant reduction in dealer inventory and modest improvements in sales and share” by the end of the year.

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