GM approves new $6B stock buyback on strong demand for gas-powered vehicles
General Motors said Tuesday its board approved a fresh repurchase authorization to buy back up to $6 billion worth of the automaker's common stock, a month after beating Wall Street estimates in the first quarter on strong demand for gas-powered vehicles. "We are very focused on the profitability of our ICE [internal combustion engine] business, we're growing and improving the profitability of our EV [electric vehicle] business and deploying our capital efficiently," GM executive vice president and CFO Pau ...