GE Beats Profit Expectations As Aviation Counters Weak Oil Segment
General Electric Co. reported a better-than-expected quarterly profit on Friday, helped by cost cuts and higher sales of its jet engines business that offset struggles in its oil and gas segment. The U.S. conglomerate, which is pulling back from financial services,...GE Loan Book Helps Wells Fargo Report First Profit Rise In Three Quarters
Wells Fargo & Co., the biggest U.S. residential mortgage lender, reported a rise in quarterly profit for the first time in three quarters on Wednesday, helped by its purchase of commercial loans from General Electric Co. The San Francisco lender has been using its...GE To Move Engine Plant To Canada As U.S. Trade Bank Languishes
General Electric Co. said on Monday it will move production of large, gas-powered engines to Canada from Waukesha, Wisconsin, along with 350 jobs, because the company cannot access financing through the U.S. Export-Import Bank. In its latest salvo aimed at persuading...GE To Move U.S. Jobs Overseas In Fight Over Export Credits
Flexing its muscles amid a bitter congressional fight over the U.S. Export-Import Bank, General Electric Co. on Tuesday revealed plans to shift up to 500 U.S. manufacturing jobs to Europe and China because it can no longer access EXIM financing. The largest U.S....GE Seeks Sale Of Asset Management Arm Amid Industrial Push
General Electric Co. said on Thursday it would seek to sell its asset management arm to an investment management firm, as the U.S. conglomerate further sharpens its focus on industrial products. GE Asset Management had $115 billion in assets under management as of...
