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Industrial Conglomerates Jeffrey Immelt

  • NEW YORK, Feb 16- General Electric Co was sued on Friday by a shareholder who accused the conglomerate of concealing mounting insurance liabilities and a U.S. Securities and Exchange Commission probe, saying it cost shareholders tens of billions of dollars. On Jan. 16, GE said it would take a $6.2 billion pretax charge and set aside $15 billion in reserves to help...

  • NEW YORK, Feb 16- General Electric Co was sued on Friday by a shareholder who accused the conglomerate of concealing mounting insurance liabilities and a U.S. Securities and Exchange Commission probe, costing shareholders tens of billions of dollars. On Jan. 16, GE said it would take a $6.2 billion pretax charge and set aside $15 billion in reserves to help cover...

  • Jeffrey Immelt

    Immelt's move is a chance for redemption after his departure from GE in the latter half of 2017 capped a rocky 16-year run.

  • Jeffrey Immelt (center), executive at General Electric Corporation, attends a press conference in New York.

    Former General Electric CEO and Chairman Jeff Immelt was appointed chairman of the Athenahealth Board of Directors.

  • NEW YORK, Jan 24- U.S. securities regulators are probing a massive insurance charge recently announced by General Electric Co, the latest blow to the nation's largest industrial conglomerate as it struggles to reverse steep declines in some of its units and is looking to sell off $20 billion of assets. GE announced the probe after reporting a $10- billion loss in...

  • Jan 24- General Electric Co said on Wednesday that U.S. securities regulators are probing a massive insurance charge it announced last week, a write-off that produced a $10- billion loss in the latest quarter. GE affirmed its outlook for earnings of $1 to $1.07 a share in 2018. "If nothing else, board governance will be heightened and the auditors will sharpen the...

  • Jan 24- General Electric Co disclosed on Wednesday that U.S. securities regulators had begun probing a multibillion-dollar insurance charge it announced last week, a write-off that produced a $10- billion loss in the latest quarter. The U.S. Securities and Exchange Commission began an investigation in late November of the long-term service agreements that...

  • Jan 24- General Electric Co forecast further weakening of its troubled power business on Wednesday as it reported a $10 billion loss and a 5- percent fall in revenue in the fourth quarter, driven by previously-announced charges for insurance losses and taxes. The stock was higher in part on investor relief that the company reaffirmed its 2018 profit forecast,...

  • Jan 24- General Electric Co forecast further weakening of its troubled power business on Wednesday as it reported a $10 billion loss and a 5- percent fall in revenue in the fourth quarter, driven by previously-announced charges for insurance losses and taxes. While the results contained no new sizeable charges, they threw into stark relief how far the U.S....

  • Hard to see why there won't be massive lawsuits against GE after dismal year: Deutsche Bank analyst

    This year was the culmination of GE brushing things under the rug for decades, says John Inch, Deutsche Bank analyst, weighing in on General Electric's outlook, as it new CEO attempts to implement a turnaround plan. Former GE CEO Jack Welch handed Jeff Immelt a tough hand, says Inch.

  • Venture capitalist Bill Gurley had a spectacular and spectacularly dramatic year.

  • ZURICH/ LAS VEGAS, Dec 7- General Electric Co said Thursday it is axing 12,000 jobs at its global power business, the struggling industrial conglomerate's latest effort to shrink itself into a more focused company. The announcement cast a spotlight on GE's decision to spend 9.7 billion euros on the energy business of France's Alstom. Rumors of sweeping job cuts...

  • ZURICH, Dec 7- General Electric Co said Thursday it is axing 12,000 jobs at its global power business, the struggling industrial conglomerate's latest effort to shrink itself into a more focused company. Rumors of sweeping job cuts were confirmed by labour union sources on Wednesday, with staff in Switzerland, Germany and Britain among those badly hit.

  • Rumors of sweeping job cuts were confirmed by labour union sources on Wednesday, with staff in Switzerland and Germany among those badly hit. "This decision was painful but necessary for GE Power to respond to the disruption in the power market, which is driving significantly lower volumes in products and services," said Russell Stokes, head of GE Power.

  • Jeff Immelt: I always put the company first

    Former General Electric CEO Jeff Immelt speaks at Axios' "Smarter Faster Revolution" about his time at General Electric and being in the running for the top job at Uber.

  • Jeff Immelt

    Former General Electric CEO Jeff Immelt speaks at Axios' "Smarter Faster Revolution" about his time at General Electric and what he sees for it going forward.

  • General Electric CEO Jeffrey Immelt

    Former CEO of General Electric Jeff Immelt will speak with Axios on Thursday at the "Smarter Faster Revolution" event.

  • John Flannery, GE

    "I've been quite clear where we have underperformed and about how to fix that," General Electric's CEO tells CNBC.

  • *Cuts quarterly dividend in half to 12 cents/ share. Nov 13- General Electric Co's new Chief Executive John Flannery on Monday outlined steps that will turn the biggest U.S. industrial conglomerate into a smaller, more focused company, surprising some investors who sold the company's shares to a five-year low. Flannery's plan to shrink GE's multi-industry array...

  • *Cuts quarterly dividend in half to 12 cents/ share. Nov 13- General Electric Co's new Chief Executive John Flannery on Monday outlined steps that will turn the biggest U.S. industrial conglomerate into a smaller, more focused company, surprising some investors who sold the company's shares to a five-year low. Flannery's plan to shrink GE's multi-industry array...