French group Alstom said it had completed the €12.35 billion ($13.6 billion) sale of its energy business to General Electric Co.
General Electric Co said it will sell its commercial lending and leasing businesses worth more than $30 billion to Wells Fargo & Co as the industrial conglomerate shifts its focus back on the manufacturing businesses.
The 500 largest American companies hold more than $2.1 trillion in accumulated profits offshore to avoid U.S. taxes and would collectively owe an estimated $620 billion in U.S. taxes if they repatriated the funds, according to a study released on Tuesday.
General Electric won European Union antitrust clearance on Tuesday to buy Alstom's power unit after agreeing to sell some of the French company's assets to Italian competitor Ansaldo Energia.
Japanese banks are among bidders for General Electric Co.'s local commercial lending and leasing operation, sources told Reuters on Friday.
General Electric Co. expects to generate more than $1 billion in sales this year from its growing business of helping customers use data collected from industrial equipment.
Oil and gas is getting bigger, deeper, faster and more efficient, with new technology chipping away at “peak oil” concerns. While hydraulic fracturing has been the most visible revolutionary advancement, other high-tech developments are keeping the ball rolling.
General Electric is in talks to acquire Italian defense company Avio SpA from private equity firm Cinven, after Cinven refused a previous offer from two other private-equity firms.
U.S. stocks fell, sending benchmark indexes toward their biggest declines since June, as Microsoft Corp. and General Electric Co. results missed estimates and euro-area leaders failed to discuss aid for Spain at a summit.