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General Electric News
General Electric wins partial dismissal of shareholder lawsuit in Manhattan Court
Fri, Aug 30, 2019
A federal judge in Manhattan on Thursday partially dismissed a lawsuit by investors in General Electric Co that accused the company of concealing $24 billion in insurance liabilities.
CFM International wins 600 Jet engine order from IndiGo
Thu, Jun 13, 2019
Engine maker CFM International is poised to announce one of the world`s largest jet engine orders with a deal for more than 600 engines from India`s IndiGo, industry sources said.
General Electric CEO Culp says company has too much debt
Mon, Nov 12, 2018
General Electric Co Chief Executive Officer Larry Culp said on Monday the conglomerate was saddled with too much debt and would urgently sell assets to reduce the indebtedness, sending its shares down as much as 10 percent.
CAG puts spanner on GE's diesel loco manufacturing unit in Bihar
Sat, Jul 21, 2018
Putting a spanner on US giant General Electric's diesel locomotives manufacturing unit in Bihar's Marhowra, the Comptroller and Auditor General (CAG)has said that the project was not "in sync with the overall strategic vision of railways"
General Electric kicked out of elite Dow club, but expulsion no body blow to shareholders
Wed, Jun 20, 2018
General Electric reached its peak share price in late August 2000, about a year before longtime Chief Executive Jack Welch turned over the reins to Jeffrey Immelt. The stock has fallen more than 75 percent since.
General Electric dropped from Dow Jones stock index
Wed, Jun 20, 2018
General Electric will be replaced on June 26 by pharmacy chain Walgreens Boots Alliance, which will contribute "more meaningfully" to the index, S&P Dow Jones said yesterday.
Siemens strikes deal with German unions over job cuts
Tue, May 08, 2018
Siemens` rival General Electric has also been hit, and last year announced plans to axe 12,000 jobs at its power business. Power and gas orders at Siemens are expected to drop 23 percent during the company`s second quarter, with results due on Wednesday, while profit from the division is forecast to plunge 62 percent, according to a Reuters poll.
GE says it may face US action over subprime mortgage operations
Sat, Feb 24, 2018
GE said the warning about the potential action stems from a Justice Department investigation and outcomes of investigations of other financial firms
GE posts $10 billion loss, sales drop as power weakens
Wed, Jan 24, 2018
General Electric Co forecast further weakening of its troubled power business on Wednesday as it reported a $10 billion loss and a 5-percent fall in revenue in the fourth quarter, driven by previously-announced charges for insurance losses and taxes.
Railways to switch to electric locomotives, phase out diesel engines in 5 years
Fri, Nov 24, 2017
The decision has raised uncertainty over the US giant’s $2.6-billion diesel locomotive project in Bihar, where GE is setting up a factory at an estimated cost of Rs 2,052 crore. The cancellation of the deal is likely to undermine the government’s Make in India initiative and put future foreign investment at risk.