General Electric Related Content

Moody’s Downgrades GE Capital Issuer Rating to A2

Moody’s Investors Service downgraded the long-term issuer rating of GE Capital Global Holdings to A2 from A1. The long-term ratings of GE Capital’s subsidiaries were also downgraded. read more

General Electric to Cut Dividend 50%

GE announced its board of directors has determined to set the company’s quarterly dividend to a projected of $.12 per outstanding share which represents a 50% reduction from the current quarterly dividend. read more

China’s Juneyao Airlines Signs $1.4B Engine Deal with GE

China’s Juneyao Airlines signed a $1.4 billion deal with General Electric to supply new GEnx engines for 10 Boeing 787 aircraft scheduled to be delivered in 2018. read more

Bloomberg: GE’s Dismal Performance Puts Dividend at Risk

Bloomberg reported GE’s shares have fallen 32% in 2017, causing concern that if the new CEO’s plan to change the trajectory of the company is not successful, GE may have to cut its dividend for only the third time in its history. read more

Miller Replaces Bornstein as GE CFO; Rice, Comstock to Retire

GE announced Jamie Miller, CEO of GE Transportation, has been named chief financial officer, replacing Jeffrey S. Bornstein who will leave the company at the end of this year. GE also announced John Rice and Beth Comstock will retire effective December 31, 2017. read more

GE Sells Industrial Solutions Business to Switzerland’s ABB

Switzerland’s ABB announced the acquisition of GE Industrial Solutions for $2.6 billion. GE’s global electrification solutions is headquartered in Atlanta and has about 13,500 employees around the world. read more

GE to Ground Corporate Fleet of Jets

Fox Business News reported that General Electric is cutting its spending on operations including the grounding of its corporate fleet of jets. read more

GE Reports Q2/17 Earnings from GE Capital Verticals Up 6.7%

GE reported GE Capital Q2/17 segment earnings from GE Capital Aviation Services, Energy Financial Services and Industrial Finance was $605 million, up 6.7% from $567 million a year earlier. read more

GE, Baker Hughes Reach Agreement with DOJ to Complete Merger

Baker Hughes and General Electric reached an agreement with the Department of Justice that would allow the combination of Baker Hughes and GE Oil & Gas under U.S. law. read more

GE Reports Q1 Earnings from GE Capital Verticals Up 8%

In a presentation, GE reported GE Capital Q1/17 earnings were $535 million, up 7.9% from $496 million in the same quarter in 2016. GE Capital Aviation services accounted for over 71% of total earnings. read more

GE Closes Sale of Last Major GE Capital Finance Business

GE closed the sale of its French consumer finance business, GE Money Bank, and its operations in the French Overseas Territories to an affiliate of Cerberus Capital Management. read more

Bloomberg: GE’s Jeff Immelt Explains Rational for New Strategy

Bloomberg reported that at a recent outlook event, General Electric CEO Jeff Immelt was quoted as saying in response to a question about his new strategy, “[it] makes a s***load more sense than Six Sigma did.” read more

GE Capital Sells $3.6B Investment in Italian Bank

GE sold its shares in GE Capital Interbanca in Italy to Banca IFIS. The transactions represents an ending net investment of $3.6 billion. read more

GE, Siemens Acquisitions Bolster Digital Presence

According to Bloomberg, General Electric purchased cloud-based software company ServiceMax for $915 million and Siemens AG bought Mentor Grahpics, a U.S. software manufacturer, for $4.5 billion. read more

GE Board Elects Qualcomm’s Mollenkopf as Independent Director

General Electric elected CEO and a director of Qualcomm Steven M. Mollenkopf to the company’s board of directors read more

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