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General Electric Co faces potential action by the U.S. Justice Department over allegations that its GE Capital unit and now defunct WMC Mortgage Corp unit violated U.S. law.
General Electric Co reported a 5-percent fall in revenue and a $10 billion loss for the fourth quarter driven by an already announced $11-billion charge for insurance losses and taxes.
General Electric said Tuesday it would book a one-off charge of USD 6.2 billion on its accounts for the fourth quarter of 2017, following a review of its insurance businesses.
GE and Tata has signed an MoU to jointly pursue opportunities in the domain of military aircraft engines and systems.
The partnerships were signed in the presence of Trump and Chinese President Xi Jinping, as well as U.S. Commerce Secretary Wilbur Ross and Chinese Vice Premier Wang Yang.
GE is considering options for GE Capital Aviation Services (GECAS), the world's second-largest lessor, following expressions of interest from some of its competitors, the sources said on Monday.
US giant General Electric has offered to set up a 2,400 megawatt gas-based power plant in Punjab, offering electricity at Rs 4.81 per unit only.
Govt says work on General Electric's diesel locomotive factory on track, but to pursue electrification
GE had won a $2.6 billion contract in 2015 to supply Indian Railways with 1,000 diesel locomotives.
Policy shifts such as an apparent U-turn over a locomotive deal with General Electric risk undermining Modi's flagship 'Make in India' initiative.
Wanchoo succeeds Banmali Agrawala, who is moving on from GE to join Tata Sons as President of its infrastructure, defence and aerospace business.
GE was under pressure to report strong cash flow after a weak showing in Q1that included an unexpectedly large $1.6 billion outflow of cash due to slow customer payments and failure to deliver parts.
The company's shares were up 3.6 per cent in premarket trading.
GE also signed an MoU with oil giant Saudi Aramco "to undertake a digital transformation of Aramco's operations."
The grounding comes days before Boeing was due to deliver its first 737 MAX to an airline and marks a high-profile delay in a program that Boeing had said was ahead of schedule.