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Alwyn Scott

GE shares surge as it raises cash forecast despite earnings loss

31 Oct 2019

General Electric Co posted adjusted profits on Wednesday that beat analysts' estimates and wowed investors by promising $1 billion (£776.10 million) more cash this year than it had previously forecast, sending its shares sharply higher. | Video

GE to freeze, pre-pay pensions to save up to $8 billion, cut debt

07 Oct 2019

General Electric Co said on Monday it would freeze pensions for about 20,000 salaried U.S. employees and take other related moves to help the ailing conglomerate cut debt and reduce its retirement fund deficit by up to $8 billion (6.5 billion pounds).

UPDATE 3-General Electric wins partial dismissal of shareholder lawsuit

30 Aug 2019

NEW YORK, Aug 29 A federal judge in Manhattan on Thursday partially dismissed a lawsuit by investors in General Electric Co that accused the company of concealing $24 billion in insurance liabilities and using fraudulent accounting to prop up its power business.

General Electric stock drop attracts more short-sellers: S3 Partners

21 Aug 2019

NEW YORK Betting against General Electric Co stock has increased in the last week as the stock has fallen following a report by fraud investigator Harry Markopolos that questioned the conglomerate's accounting, financial analytics firm S3 Partners said on Tuesday.

General Electric insurance called 'risky' by Fitch; shares fall again

21 Aug 2019

NEW YORK General Electric Co ranks among the riskiest backers of long-term care insurance, suffering from both high exposure to claims and a relatively small cash pile to pay them, Fitch Ratings said in a report on Tuesday that sent GE's shares tumbling.

General Electric ranks among riskiest long-term care insurers -Fitch

20 Aug 2019

NEW YORK, Aug 20 General Electric Co ranks among the riskiest backers of long-term care insurance, suffering from both a high exposure to claims and a relatively small cash pile to pay them, Fitch Ratings said in a report on Tuesday.

General Electric fortifies defence against charges of bogus accounting

20 Aug 2019

NEW YORK General Electric Co reinforced its defence of its accounting practices on Monday after investors asked more questions about an unusual research report last week that accused the jet engine and power plant maker of financial fraud.

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