GE is taking steps to shift some U.S. manufacturing work overseas now that the U.S. Export-Import Bank will be shuttered at least until September.» Read More
The dollar slumped Friday, battered by heightened worries about the U.S. financial sector after a report said the U.S. government is considering taking over mortgage agencies Fannie Mae and Freddie Mac if their situation worsens.
I got an email from Suzy Welch who is spending the summer writing her upcoming book, “10-10-10: Transform Your Life with Clear, Considered, Stress-Free Choices”. The book is being published by Scribner (an imprint of Simon & Schuster) and will be ready next spring.
Stocks plunged deeper into the red Friday after Paulson said he sees no bailout on the horizon for Fannie Mae and Freddie Mac. Another $5 surge in oil prices fanned the market flames.
General Electric earnings met expectations -- a welcome reprieve after last quarter's dismal miss -- but but said it expects third-quarter profits to be flat or down at its finance arms.
Stocks plunged at the opening bell Friday as fears about the need for a potential government rescue of troubled mortgage gians Fannie Mae and Freddie Mac rippled through the market.
Despite good news from our parent General Electric we are again being pushed around by oil at a record price, and by Fannie and Freddie. Both are down big (about 50 percent) this morning, largely on a New York Times story that the federal government was considering placing one or both of them in a conservatorship.
General Electric will sell its Japanese consumer finance operation to Shinsei Bank for $5.4 billion, concluding a year-long effort to pull out of consumer lending in Japan.
GE shareholders would probably like to forget last quarter and the stock's 28% decline. But what about the future? Can spin-offs and recently-announced acquisitions reignite growth at GE?
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NBC Universal Chief Executive Jeff Zucker said on Thursday he was not looking to spin off or sell some of the company's assets.
The Dow chart looked like a yo-yo Thursday as traders pounded financials including Freddie Mac and Lehman Brothers and oil prices surged more than $5 a barrel. Still, all three major indexes eked out gains by the closing bell.
The Dow chart looked like a yo-yo Thursday as traders pounded financials including Freddie Mac and Lehman Brothers, overshadowing any positive news the market had to offer.
Stocks flipped and somersaulted Thursday as investors juggled worries about capital constraints at Fannie Mae and Freddie Mac with a drop in jobless claims, merger activity and encouraging retail sales.
General Electric said on Thursday it will look to spin off to shareholders its entire consumer and industrial unit, signaling it is ready to part with a much larger slice of its portfolio than just the $7 billion appliance arm it has been seeking to sell.
Stocks ended a tumultuous session with a late selloff that left all three major indexes in bear-market territory. Financials fell sharply amid worries about more shoes to drop and techs took a hit after Cisco's chief said customers don't see a recovery until next year.
Now that Alcoa is out of the way, the next important data point is our parent network, General Electric,spacer which reports earnings on Friday. Since I'm often asked about the different divisions, here's a breakdown, with 2008 estimated revenues:
Stocks declined, following a two-day rally, as a report showed crude inventories shrunk last week. Oil climbed in a choppy session after falling more than $9 abarrel in the past two sessions.
Stocks declined, following a two-day rally, as a report showed crude inventories shrunk last week. Oil rebounded $1 to $2 a barrel after shedding more than $9 in the prior two sessions.
German industrial conglomerate Siemens plans to cut around 4 percent of its workforce as part of an overhaul and as a result of the global economic downturn, Siemens said on Tuesday.
Stocks whipped back to positive territory on a seesaw day for Wall Street, which was dominated by a large dumping of financial shares and a drop in oil that staggered large energy producers.