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Alwyn Scott

General Electric seeks urgent asset sales as bond fears rise

6:13am IST

NEW YORK General Electric Co will sell assets with "urgency" to reduce its high debt, Chief Executive Officer Larry Culp said on Monday, as GE shares tumbled as much as 10 percent and the cost of insuring its debt hit a six-year high.

GE shares tumble below $9 as JP Morgan analyst cuts price target

10 Nov 2018

NEW YORK Shares of General Electric Co tumbled on Friday after a JP Morgan analyst slashed his target price on the stock to a lowly $6, dealing a fresh blow to the U.S. industrial conglomerate's flagging share price.

UPDATE 1-GE shares tumble below $9 as JP Morgan analyst cuts price target

09 Nov 2018

NEW YORK, Nov 9 Shares of General Electric Co tumbled on Friday after a JP Morgan analyst slashed his target price on the stock to a lowly $6, dealing a fresh blow to the U.S. industrial conglomerate's flagging share price.

General Electric reveals deeper regulatory probe, restructuring

31 Oct 2018

General Electric Co slashed its dividend on Tuesday, said it faces a deepening federal accounting probe and vowed to restructure its power unit, as new Chief Executive Larry Culp took his first steps to revive the struggling conglomerate. | Video

General Electric replaces CEO with outsider; shares soar

02 Oct 2018

General Electric Co ousted Chief Executive Officer John Flannery in a surprise move on Monday, replacing him with outsider and board member Larry Culp, and said it would take a roughly $23 billion charge to write off goodwill in its power division, primarily from a large 2015 acquisition. | Video

France's EDF halts GE turbine at Bouchain, GE shares drop

26 Sep 2018

NEW YORK/PARIS French power utility Electricite de France SA said on Tuesday it has shut down a General Electric Co turbine at its Bouchain power plant for one month due to a turbine blade issue that has shut down similar plants in the United States.

UPDATE 3-France's EDF halts GE turbine at Bouchain, GE shares drop

26 Sep 2018

NEW YORK/PARIS, Sept 25 French power utility Electricite de France SA said on Tuesday it has shut down a General Electric Co turbine at its Bouchain power plant for one month due to a turbine blade issue that has shut down similar plants in the United States.

General Electric says blade problem affects more gas turbines

22 Sep 2018

General Electric Co said on Friday that turbine blade oxidation which forced Exelon Corp to idle four electric power units in Texas also affects another model, widening the impact of the latest problem to hit GE's ailing power unit.

UPDATE 2-General Electric says blade problem affects more gas turbines

22 Sep 2018

Sept 21 General Electric Co said on Friday that turbine blade oxidation which forced Exelon Corp to idle four electric power units in Texas also affects another model, widening the impact of the latest problem to hit GE's ailing power unit.

Four General Electric power turbines shut down in U.S. due to blade issue

21 Sep 2018

General Electric Co said on Thursday that four of its new flagship power turbines in the United States have been shut down due to an "oxidation issue" and warned it expects the problem to affect more of the 51 units it has shipped, sending shares lower. | Video

World News

Israel-Gaza border ignites after botched incursion; 4 dead

Palestinian militants on Monday carried out their most intensive shelling of Israel since the 2014 Gaza war in retaliation for a botched cross-border commando raid, drawing Israeli air strikes against Hamas' television station and other targets.