BEIJING (AP) — China's government on Wednesday rejected accusations that it steals technology after a former General Electric Co. engineer and his Chinese business partner were indicted on charges...
BOSTON (AP) — After years of belt-tightening and spinoffs that ate into both revenue and profit, General Electric Co. reported fourth-quarter net income of $761 million, sending shares up 10 percent in at the opening bell.
NEW YORK (AP) — Stocks that moved substantially or traded heavily Monday:
Loxo Oncology Inc., up $92.78 to $232.65
Eli Lilly agreed to buy the cancer drug developer for about $8 billion.
PG&E Corp., down $5.45 to $18.95
Reuters reported that the California utility might file for bankruptcy as it faces big liabilities connected to deadly wildfires.
Dollar Tree Inc., up $5.07 to $97.96
Activist investment firm Starboard Value disclosed an investment in the discount retailer
NEW YORK (AP) — General Electric Co. is shuffling leadership in its struggling power unit, part of the company's ongoing effort to slim down operations.
Power is GE's largest division, and it pulls in more than a third of the company's revenues. But demand for its key gas turbines has fallen as consumers have reduced energy use and switched to renewables.
DUBAI, United Arab Emirates (AP) — A subsidiary of General Electric Co. has agreed to purchase a 5-percent stake in the drilling arm of Abu Dhabi's state oil company for $550 million.
The deal announced on Monday with Baker Hughes, also known as BHGE, values the drilling subsidiary of Abu Dhabi National Oil Co. at around $11 billion. ADNOC says that valuation includes some $1 billion in debt.
It also marks the first time Abu Dhabi has sold a stake in its businesses to a foreign interest.
NEW YORK (AP) — Stocks that moved substantially or traded heavily Friday:
Microsoft Corp., up $1.87 to $106.27
The technology company had a strong fiscal fourth quarter as its cloud computing business kept growing.
Skechers USA Inc., down $6.98 to $26.27
The shoe company's quarterly forecasts fell far short of Wall Street estimates.
State Street Corp., down $6.87 to $85.87
The financial services company said it will buy Charles River Development for $2.6 billion.
BOSTON (AP) _ General Electric Co. (GE) on Friday reported second-quarter earnings of $800 million.
The Boston-based company said it had net income of 7 cents per share. Earnings, adjusted for non-recurring costs and to account for discontinued operations, came to 19 cents per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 18 cents per share.
DECATUR, Ala. (AP) — General Electric Co. is expanding an appliance plant in north Alabama.
Gov. Kay Ivey's office said Friday the company will enlarge its Decatur factory in a $115 million project that will increase the workforce by 255 fulltime positions.
The expansion will bring total employment to almost 1,300 people as GE Appliances increases production of top-mounted freezer refrigerators by about 25 percent.
NEW YORK (AP) — General Electric Co. is shrinking again, becoming a mere shadow of the globe-spanning conglomerate that it was before the Great Recession.
GE said Tuesday that it will spin off its health-care business and sell its interest in Baker Hughes, which provides drilling services to oil and gas companies.
BOSTON (AP) — GE is selling its distributed power unit to Advent International for $3.25 billion as it continues to shed businesses.
The deal includes distributed power's Jenbacher and Waukesha engines and manufacturing sites in Austria, Canada and the U.S.
The distributed power business had 2017 sales of $1.32 billion and has about 3,000 workers.
Federal investigators say a fatigue crack in the left engine compressor on a British Airways jet was to blame for an aborted takeoff and fire at a Las Vegas airport in 2015.
One flight attendant was seriously injured in the Sept. 8, 2015, incident at McCarran International Airport. All 157 passengers and 13 crew members on board the Boeing 777-236ER jet, which was bound for London, were able to evacuate. The plane was substantially damaged by fire.
The co-founder and CEO of athenahealth is stepping down and the medical software company is exploring a potential sale. It is already weighing a buyout offer from a frustrated shareholder.
The resignation of Jonathan Bush is effective immediately.
Athenahealth Inc. said Wednesday that Chairman Jeff Immelt, the former leader of General Electric Co., will become executive chairman. Chief Financial Officer Marc Levine will take on more responsibilities while the company searches for its next CEO.
TOKYO (AP) — Electronics and entertainment company Sony Corp. said Tuesday it plans to spend $2.3 billion acquiring an additional 60 percent stake in EMI Music Publishing, home to the Motown catalog and contemporary artists like Kanye West, Alicia Keys and Pharrell Williams.
Sony already owns 30 percent of EMI so once the purchase from Mubadala Investment Co. is finalized, it will own 90 percent of the company, CEO Kenichiro Yoshida said in a news conference at Sony's headquarters.
BEIJING (AP) — Asian markets were mostly lower Tuesday after Wall Street gained as Italy moved toward forming a euroskeptic-led government.
KEEPING SCORE: The Shanghai Composite Index declined 0.2 percent to 3,208.20 and Sydney's S&P-ASX 200 lost 0.7 percent to 6,039.20. Tokyo's Nikkei 225 edged up 4 points to 23,005.25. Markets in Hong Kong and South Korea were closed for holidays. Benchmarks in New Zealand, Singapore and Malaysia also declined.
NEW YORK (AP) — General Electric will tie its train engine division to the railroad equipment maker Wabtec in deal worth about $11 billion as GE CEO John Flannery continues to break off parts of the conglomerate.
Wabtec CEO Raymond Betler will lead the combined company and its chairman, Albert Neupaver, will be executive chairman.
FORT WAYNE, Ind. (AP) — A company hoping to redevelop a former General Electric complex in Fort Wayne is opening the sprawling site for public tours.
The former 31-acre GE campus that's been vacant since January 2015 once employed more than 10,000 workers who produced an array of products.
WASHINGTON (AP) — Federal regulators are expanding an emergency order for airlines to inspect fan blades in the engines of Boeing 737 jets for cracks that indicate wear and tear.
The Federal Aviation Administration said Tuesday it will require blades on certain CFM engines be inspected before they hit 20,000 flights. Engines that have reached that milestone must be inspected by around late August.
PHILADELPHIA (AP) — The Latest on a plane making an emergency landing in Philadelphia (all times local):
Southwest Airlines says it's speeding up inspections of engines like the one that failed and sent debris smashing into a plane window, leading to the death of a passenger.
Southwest said Tuesday it expects to finish inspections of the CFM56 engines over the next 30 days. It says it's making the move out of caution.
BOSTON (AP) — Days after saying that it would retroactively cut the profits reported over the past two years, General Electric Co. is reshaping its board of directors.
One person joining the board chaired the organization that sets accounting standards in the United States.
GE said Friday that it must cut its 2016 per-share earnings by 13 cents, and by 16 cents for 2017. It's adopting new accounting standards for 2018.
WILMINGTON, N.C. (AP) — GE Hitachi Nuclear Energy has confirmed layoffs at its North Carolina plant.
The StarNews of Wilmington reports that company spokesman Jon Allen said Wednesday that he could not confirm the number of workers laid off. Wilmington Mayor Bill Saffo said he didn't know how many people had been laid off and had feared local cuts.
NEWARK, N.J. (AP) — General Electric Co. will cut 12,000 jobs in its power division as alternative energy supplants demand for coal and other fossil fuels, and energy demand declines overall.
The company said Thursday that the cuts to both office and production jobs, will help "right-size" GE Power in a traditional power markets that is being upended globally.
NEW YORK (AP) — Stocks that moved substantially or traded heavily Monday:
General Electric Co., down $1.47 to $19.02
The industrial company cut its dividend in half and gave a disappointing profit forecast for 2018.
GGP Inc., up $1.85 to $24.05
Brookfield Property Partners offered to buy the rest of the shopping mall real estate investment trust for $14 billion.
Mattel Inc., up $3.02 to $17.64
The Wall Street Journal reported Friday that competitor Hasbro is interested in combining with Mattel.
BOSTON (AP) — General Electric is naming Trian's Ed Garden to its board, potentially signaling a shift toward becoming the leaner, industrial player that the investment fund has been pushing for years.
The company this month has already turned over its top management with the early departure of longtime CEO Jeff Immelt and CFO Jeffrey Bornstein. Two vice chairs also have announced they would retire.
NEW HAVEN, Conn. (AP) — A former executive of French power and transportation company Alstom was sentenced in the U.S. on Monday to 2 ½ years in prison for bribing Indonesia officials — a scheme that was part of a worldwide bribery scandal resulting in a record $772 million fine against the company.
Frederic Pierucci, a 49-year-old French citizen, also was fined $20,000 at his sentencing in federal court in New Haven, Connecticut.
ALBANY, N.Y. (AP) — General Electric Co. says arguments for more dredging in the Hudson River to speed its recovery from PCB contamination are "unsupported by sound evidence."
Boston-based GE made the assertion to the federal Environmental Protection Agency as the agency considers the effectiveness of the six-year, $1.7 billion cleanup.
FARMINGTON, N.M. (AP) — A coal mine in northwestern New Mexico is going diesel as it replaces electric locomotives that pull trains of coal to supply a power plant near Farmington.
The Daily Times (https://goo.gl/uzwQ7M ) reports that the rail line serving the Navajo Mine purchased two diesel locomotives from General Electric Co. to supply the Four Corners Power Plant at Fruitland.
OKLAHOMA CITY (AP) — Two utilities that supply power to customers in four states say they plan to buy what is being billed as the largest wind farm in the U.S. once the $4.5 billion project is completed in the Oklahoma Panhandle.
QINGDAO, China (AP) — After Haier Group bought the General Electric Co. appliance unit last year, the Chinese company's chairman says he gave its American managers unusual orders: Ignore me.
CHATTANOOGA, Tenn. (AP) — A General Electric company will repay Chattanooga and Hamilton County $6 million after closing a manufacturing plant purchased from a French company that received millions in tax breaks.
The Times Free Press reports (http://bit.ly/2l4GmCK ) GE Power will pay Chattanooga $3.3 million and the county $2.7 million.
Rex Tillerson, the former Exxon CEO picked by President-elect Donald Trump to be the next secretary of state, owns stock in some of his old competitors and a slew of other companies with operations around the world.
Tillerson's holdings include shares of Chevron Corp., Royal Dutch Shell, Apple Inc. and General Electric Co. He disclosed them in a filing with the federal Office of Government Ethics.