Reports of Tesla vehicles spontaneously catching fire could make customers wary of EVs just as the industry ramps up production plans.Autosread more
SoftBank founder Masayoshi Son speaks in futuristic terms about his company, but the success of his late-stage VC fund is still unknown.Technologyread more
Amazon's large and flashy investments stand out from those of its tech peers over the past year.Technologyread more
Consumer IPOs from Snap to Uber have been disappointing and serve as a reminder that private investors are making all the money.Technologyread more
China's currency has been an important barometer for progress in U.S.-Chinese trade talks, and right now it's signaling things aren't going well.Market Insiderread more
The 2019 PGA Championship wraps up on Sunday, May 19. Here's how much money the champion will earn.Earnread more
The move comes after star runner Alysia Montaño's May 12 op-ed in the New York Times in which she detailed her experiences with Nike.Business Newsread more
While the prolonged fight has been devastating to an already-struggling agriculture industry, there's little indication Trump is paying a political price.Traderead more
The outrage has even inspired a Change.org petition called "Remake Game of Thrones Season 8 with competent writers," with over half-a-million signatories and climbing.Entertainmentread more
The company's comments Friday come after the White House said U.S.Trade Representative Robert Lighthizer will "address the threatened impairment" of national security from...Autosread more
General Electric will be open about its struggles and the goals it expects to achieve in the company's turnaround plan, CEO Larry Culp told CNBC Thursday.
"I think what we're gonna try to do, frankly, is to share with people in as transparent a way as we possibly can, what those issues are ... and the plan that we have," he said in a sit-down interview with "Mad Money's" Jim Cramer. "But it will take-- time. And we don't wanna sugarcoat this."
The industrial conglomerate, which once donned the title of America's most valuable company, has faced debt and management problems for some time. Culp, who became head of the company last September, said he studied the company for years and the top priority is to strengthen its balance sheet.
GE has made moves to sell off $25 billion worth of assets in GE Capital.
"We want to strengthen the balance sheet and set our businesses up to play and win," Culp said. "We've been very clear about our intent to reduce both the leverage on our industrial balance sheet and at GE Capital."
The chief said his company will have access to "the better part of $40 billion of proceeds" after Danaher's $21.4 billion acquisition of GE's biopharmaceutical business goes through. Culp also said he anticipates monetizing GE's stake in Baker Hughes and other deals.
"There's a lot of capital there that we're gonna be able to put to use to bring down the leverage on the industrial balance sheet," he said. "Will it work on the capital side in a similar fashion? We have $10 billion of dispositions planned this year to continue to bring the leverage down."