General Electric

General Electric Co to sell its US healthcare finance unit

General Electric Co to sell its US healthcare finance unit

According to reports, General Electric Co is going to sell its US healthcare finance unit to Capital One Financial Corp, for approximately $9 billion. Capital One is a US bank holding company. GE has relaxed its finance arm and come back to its origins of the industry.

Under the deal, healthcare-related loans will be sold that are worth $8.5 billion. According to Michael Slocum, President of Capital One’s Commercial Bank, “This is a strategic investment in a specialty industry segment that we have been building out for the past several years. This addition will catapult us to a leading market position in providing financial services to the healthcare sector”.

GE Announces Plans to Launch Computer Based Services

GE Announces Plans to Launch Computer Based Services

General Electric (GE), the industrial giant, is now taking a step forward in development as it announced its plan to enter the computer-based services segment.

On Wednesday, the company announced that it is soon going to launch computer-based services that will connecting sensors on machines to distant computing centers-a concept called cloud computing.

The company also announced that it will allocate a sum of about $500 million per year for expenditure specifically on the new computer based services segment.

"We think it will change the industrial world. We're talking about where an industrial company goes to get its applications," said William Ruh, the Head of GE's Software Business.

New Software allows Viewing of Human’s Internal Organs in 4D

New Software allows Viewing of Human’s Internal Organs in 4D

A new software, dubbed cSound, has been developed that can show internal organs of body in extreme 4D. Researchers said that the method is quite safe. For the technology, sound waves are used to image objects.

General Electric has developed the new software. Andrew Liszewski said, “According to doctors, the new 4D cardiovascular ultrasound machines produce[s] images so detailed that they can actually see how blood flow is affected by clots inside arteries, or how much blood is leaking around a valve that's malfunctioning”.

GE To Sell Its Fleet Businesses To Canada’s Element Financial Corp

GE To Sell Its Fleet Businesses To Canada’s Element Financial Corp

It has been said that General Electric Co. (GE) has agreed to sell its US, Mexico, Australia and New Zealand fleet businesses for $6.9 billion to Canada’s Element Financial Corp.

As per the deal, GE will sell its fleet businesses held by financial unit GE Capital to Canada’s Element Financial Corp.

The part of the deal for the US and Mexico is expected to close in the third quarter this year. For Australia and New Zealand, on the other hand, it is expected to close in the fourth quarter.

It has been said that GE has also signed a memorandum of understanding for the potential sale of its European fleet businesses to Arval, a fully owned unit of France’s BNP Paribas SA, before the end of this year.

Jeff Immelt urges Congress to reauthorize Ex-Im Bank’s charter that expires on June 30

Jeff Immelt urges Congress to reauthorize Ex-Im Bank’s charter that expires

On Wednesday, CEO of the General Electric Chief Executive Jeff Immelt said that it makes no sense to shut down the Export-Import (Ex-Im) Bank, which provides loans, loan guarantees and insurance to aid overseas sales by US companies.

Immelt has been a vocal supporter and in favor of re-authorization measure. He is also in favor of a bill to support free trade that has stalled in Washington.

Immelt has been a vocal supporter of the measure, as well as a bill to support free trade that has stalled in Washington. Wednesday's speech came as he prepared to travel to Capitol Hill to press lawmakers on both matters.

Immelt said, "We've already talked about that we would be willing to do remedies around intellectual property and things like that, we've already said that".

General Electric Reveals Plans to Produce LED Light Compatible with Apple's Homekit Software

General Electric Reveals Plans to Produce LED Light Compatible with Apple's

An announcement has been made by General Electric (GE) about plans to produce an LED light compatible with Apple's HomeKit software.

The integration will include the capability to control the GE lights by Siri, Apple's voice-interface digital assistant. With help of GE's Align technology, the HomeKit-enabled bulbs will let users to align their lighting with their sleep cycles. Those who know about the app called f. lux are already aware of the benefits of utilizing blue lighting in the daytime and amber lighting at night.

GE’s underlying Organizations in Strong Position, says CEO Jeff Immelt

GE’s underlying Organizations in Strong Position, says CEO Jeff Immelt

Since the time of announcement, many US and international banks and investors have shown interest, said Chief Financial Officer Jeff Bornstein. He said that their main goal is to monetize the assets as soon as they can.

Last week, the shares have jumped 11% after Immelt revealed his plan to refocus on its industrial heritage. In the first quarter, the consolidated revenue of GE stood at $29.4 billion in the first quarter, down 12% from 2014.

For the first quarter, industrial revenue was $24.4 billion and industrial output was up 9%. If GE Capital results are excluded then GE’s remaining industrial businesses and associated financial units were doing good earning $2.8 billion in the first quarter.

General Electric to sell its entire $30 Billion Real Estate Portfolio

General Electric to sell its entire $30 Billion Real Estate Portfolio

Consortium led by Blackstone Group and Wells Fargo & Co is close to strike the deal to purchase $30 billion real estate portfolio from General Electric Co, said a person familiar with the matter.

Since Blackstone's acquisition of office landlord Equity Office Properties Trust in 2007, this will be the biggest commercial real estate deal. According to source, the deal could be announced as early as Friday. As per the source, the deal is not yet public. Both GE and Blackstone have not said anything related to this matter.

"We're in that sweet spot of 2007 when there's a lot of money, commercial real estate looks really attractive, and you could do some mega deals”, said Ken Riggs, president of Situs RERC, a firm conducting commercial real estate valuations.

Now, a microwave that can count calories

Now, a microwave that can count caloriesWashington, July 9 - General Electric has come up with a technological boon as their new microwave can count the calories in the food.

Microwave will utilize the three pieces of information, which are fat content, water content, and weight. From this microwave will provide with the calorie content in the food item, reported The Verge.

The glitch with the appliance is that it only works with blended food and the food needs to be uniform to get the actual reading, which makes it ideal for liquids. The researchers are still working on application on solid food.

GE's $17 bn bid for Alstom not acceptable: French president

Francois-HollandeMumbai, May 6 : US giant General Electric's (GE) open offer for shares in two India units of French engineering major Alstom SA, ran into problems Tuesday with French President Francois Hollande saying GE's $16.9 billion bid for Alstom’s energy business was "not acceptable".

In a comment unusual for a head of state to make on a private business deal, Hollande told some French radio and TV channels that "the (GE) offer is not sufficient and not acceptable".

GE makes $389 mn offer for Alstom's India unit shares

General-ElectricMumbai, May 5 : General Electric Co. (GE) Monday made a bid to buy shares worth up to $389 million in two India units of French engineering major Alstom SA.

According to a stock exchange filing by the offer manager Credit Suisse, GE has sought to buy 25 percent in Alstom T&D India Ltd. from public shareholders at Rs. 261.25 a share, in a deal valued at $278 million.

A separate filing said GE is also seeking to buy 26 percent of Alstom India Ltd. at Rs. 382.20 a share for a deal of up to $111 million. GE will proceed with the offers only if its bid for Alstom's energy arm goes through, the filings said.

GE unveils turbine for wind energy in India

General-ElectricBangalore, April 4 : Multinational General Electric (GE) Friday unveiled a low-speed turbine to generate wind energy for meeting India's unmet power needs.

"The new turbine (1.7-103) has been developed and engineered specifically for India's low-wind speed conditions. A 100MW wind farm powered by the new version of turbines can produce electricity that can light up 413,000 homes annually," GE South Asia chief executive Banmali Agarwala said in a statement here.

Renewables accounts for five percent of the country's energy mix by production and 12 percent by installed capacity.

General Electric earnings increased 16% in the first quarter

General Electric earnings increased 16% in the first quarterAmerican giant, General Electric has said that its earnings increased 16 per cent during the first quarter of the year, which is higher than market expectations on the Wall Street for the company. The company recorded a profit of $3.53 billion compared to $3.03 billion recorded in the previous year.

GE wants govt. to provide certainty in tax laws

GE wants govt. to provide certainty in tax laws General Electric (GE) Chief Executive Jeffrey Immelt has urged that government to provide certainty in tax laws to make India a good place to invest in.

Referring to the recent controversy over issues of retrospective taxation, Immeelt said that such moves by the government bothered foreign investors.

Speaking on the topic, he said, Tax laws have triggered investor concern, which is a negative. If you put yourself in the shoes of US and European CEO, the viewpoint has been negative."

GE gives $50,000 to Floyd’s breast center as charity

GE gives $50,000 to Floyd’s breast center as charityIn a major announcement made by Floyd Healthcare Foundation, it has got close to $50,000 as a donation from General Electric in Rome. It is to be mentioned here that the company has contributed this sum with a view to contribute to the fight against breast cancer.

GE to power Tejas' LCA

GE to power Tejas' LCA A deal that was announced as a twist in the last minute, the US major, GE has recently announced that it has bagged the order worth $800-million.

It is to be mentioned here that GE will be supplying 99 engines for India’s Tejas light combat aircraft (LCA) under the terms of the contract. For the uninitiated, after the management found both GE’s F-414 and Eurojet’s EJ-200 technically suitable, the basis of selection of GE was because of the fact that F-414 has been declared as the cheaper option.

GE sees profits go up by 14%

General-ElectricsGeneral Electrics has said that its net profit increased by 14 per cent during the second quarter of this fiscal. This happened despite revenues going well below the analyst expectations and also the stock market declining during the period in question.

Post the declaration, shares of GE were down by 4.59 per cent. Analysts said that it were the finance and health care segments which did best while the power and the aviation business still needed work.

GE rallying allies to amend the financial reform bill

GE rallying allies to amend the financial reform billIt was rallying allies to amend the financial reform bill to exclude U. S. manufacturers from oversight historically reserved for banks, General Electric has said.

The 1,400-page reform bill in debate in the Senate would form a council of regulators charged with identifying companies so big that their failure would ripple through the entire financial system.

GE India is examining the pros and cons of a possible listing

GE-India-LogoGE Oil which is a wing of General Electric is going to tie up with Triveni Engineering of India to produce and market its steam turbines.

According to sources, GE has decided to provide its technology and research and development support to the Indian firm. The Bangalore based facility of the company will be the main hub of GE India's operations.

Both the companies are also looking forward to come up with pubic issues soon. Both the partners will have equal number of members in the board. It has been expected that the Indian firm is keen to hold an extra share in the joint venture.

General Electric back on track of recovery

General Electric

General Electric has managed to get an impressive first quarter profit and market expects believe that the company has returned back to the track of recovery. The financial arm of General Electric, GE Capital Service has recorded the most imposing figures for the first quarter.




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