Stocks

World stocks rally on strong earnings reports

Asian markets rose on Wednesday after big American companies reported strong earnings for the third quarter, soothing fears that rising interest rates may deter corporate investment.

Business Highlights

___ Stocks rally on earnings a day after ending at 5-month lows NEW YORK (AP) — Stocks climb as strong results from a number of companies help the market regain a sliver of its recent losses.

GE slashes dividend, takes $22 billion charge in 3Q

General Electric Co. is slashing its dividend from 12 cents, to a penny, and taking a $22 billion impairment charge for its power division, which is a crucial segment of its operations going forward.

Coke rides on sales of healthier drinks

Strong sales of sparkling water and sugar-free drinks are powering third-quarter earnings for Coca-Cola Co. The company on Tuesday posted net income of $1.88 billion, or 44 cents per share.