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Sensex losers, gainers this week
It was a tough week for Indian shares as the BSE Sensex fell nearly 3 percent and the Nifty lost 3.3 percent as U.S. Fed chief Bernanke’s suggestion that stimulus measures may be scaled back at one of their next few meetings dented sentiment. Here's a look at the top Sensex losers and gainers. Full Article
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GE to build new locomotive factory in Texas
The company's logo is still visible on a closed General Electric Co. facility in Lynn, Massachusetts March 6, 2009. General Electric Co plans to build a new factory to assemble railroad locomotives in Fort Worth, Texas, the largest U.S. conglomerate said on Thursday.
Credit: Reuters/Brian Snyder/Files
BOSTON |
BOSTON (Reuters) - General Electric Co plans to build a new factory to assemble railroad locomotives in Fort Worth, Texas, the largest U.S. conglomerate said on Thursday.
The factory will employ about 500 people, cost about $96 million and begin operation next year, GE said.
It added that it is also adding about 250 new workers at its main locomotive manufacturing facility in Erie, Pennsylvania.
Locomotive sales, which declined during the recession, have turned the corner as major railroads including Union Pacific Corp and Norfolk Southern Corp start to invest in new capital equipment to meet rising demand to carry commodities including coal and corn, which are mainly transported by rail.
GE's transportation unit, which makes locomotives, last month reported an 18 percent rise in first-quarter sales, to $903 million.
(Reporting by Scott Malone, editing by Gerald E. McCormick)
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