NEW YORK (Reuters) – General Electric Co (GE.N: Quote, Profile, Research, Stock Buzz) expects developing markets to be a “huge engine” of growth due to demand for the company’s products that provide infrastructure in these countries, GE’s top international executive said on Wednesday.
GE, which is increasingly focused on industrial products such as jet engines, power turbines and oil and gas equipment, should see double-digit percentage increases in orders in developing countries for the “foreseeable future,” said John Rice, vice chairman and president of GE’s global growth organization.
NEW YORK, Nov 11 (Reuters) – Despite General Electric Co’s
impending sale of its appliances business, the company is
not abandoning the consumer.
The U.S. conglomerate, along with startup invention company
Quirky, on Tuesday revealed seven “connected home” retail
products that allow people to remotely control and monitor such
things as temperature, doors and windows, water leakage and
(Reuters) – General Electric Co Chief Executive Officer Jeff Immelt will personally profit if the U.S. conglomerate reaches certain cash and operating profit margin targets over the next three years.
According to a U.S. securities filing on Monday, the compensation committee of GE’s board granted Immelt 200,000 “performance share units,” or PSUs, that will convert into GE stock at the end of three years based on two equally weighted goals.
Nov 6 (Reuters) – Honeywell International Inc did
not properly classify a uranium hexafluoride leak at its
Metropolis, Illinois, plant last month, according to a U.S.
regulatory event report on Thursday.
According to the report, Honeywell should have classified
the Oct. 26 incident as an “alert,” the less serious of two
official emergency event designations by the U.S. Nuclear
Regulatory Commission, instead of declaring it a “plant
emergency,” which is an internal company classification.
Nov 5 (Reuters) – General Electric Co’s $16.9 billion
purchase of the power assets of France’s Alstom is on
pace for closing in the middle of next year after passing
several steps, the head of GE’s power business said on
The U.S. conglomerate’s biggest-ever acquisition had
encountered fierce resistance from the French state earlier this
year, but Alstom said on Wednesday that the deal won official
clearance from the country’s government, as well as support from
European works councils.
Nov 3 (Reuters) – In a victory for Honeywell International
Inc, a U.S. judge rejected a bid by the Equal Employment
Opportunity Commission to stop the company from imposing
penalties on workers who refuse to be tested as part of a
corporate wellness program.
U.S. District Judge Ann Montgomery in Minneapolis denied the
EEOC’s request for a temporary restraining order, according to a
court filing on Monday.
NEW YORK (Reuters) – A day after Hewlett-Packard Co revealed plans for ground-breaking 3D printing technology, 3D-printing manufacturer Stratasys Ltd said it is expecting more competition and pointed to its strong position in a market expected to explode by the end of the decade.
Hewlett-Packard on Wednesday said it had developed 3D-printing technology that can print 10 times faster at considerably less expense than current products, and that it plans to launch the technology broadly in 2016.
Oct 29 (Reuters) – The U.S. Equal Employment Opportunity
Commission has sued Honeywell International Inc to stop
the company from imposing penalties on employees who refuse to
undergo testing under its corporate wellness program.
The lawsuit is the third case since August filed by the
federal agency challenging a corporate wellness program, with
Honeywell the biggest company to be targeted. Wellness programs
that encourage healthier habits have become increasingly popular
in Corporate America, as they promise to improve productivity,
cut absenteeism and reduce medical costs.
By Lewis Krauskopf and Rohit T. K.
(Reuters) – Eaton Corp Plc (ETN.N: Quote, Profile, Research, Stock Buzz), a maker of electrical and hydraulic systems, reported a higher-than-expected third-quarter profit on Wednesday, helped by increased sales of electrical products.
The company lowered its projected growth for its markets this year, as weakness internationally counters stronger performance in the United States.
Oct 28 (Reuters) – U.S. nuclear regulators are investigating
a leak of uranium hexafluoride that occurred on Sunday at an
Illinois plant operated by Honeywell International Inc
where union workers have been locked out.
Honeywell confirmed the Sunday evening leak at its
Metropolis, Illinois plant, saying it was due to an equipment
failure. There were no injuries and no reason to believe anyone
was endangered by the leak, according to Honeywell.