May 21 (Reuters) – General Electric Co Chief
Executive Jeff Immelt said on Wednesday that GE is still going
to “work constructively” with the French government on its bid
for the power business of Alstom and that he expects
the deal to close.
GE has encountered resistance to its $16.9 billion proposal
from the government, which has sought to encourage Germany’s
Siemens as a potential rival bidder. But Immelt told
an investor conference on Wednesday that, “We wouldn’t have
started if we didn’t think we could finish.”
NEW YORK/LOS ANGELES (Reuters) – Rebecca Sumrow is one of the customers food and restaurant company executives have in mind when they consider raising prices to offset higher costs as meat and milk soar to record highs.
The 30-year-old from San Clemente, California, was out of work for a short time last year and saved money by moving in with her boyfriend and cutting back on clothes shopping and dining out. Though she now has a good job working for an investment firm, she’s maintaining her frugal ways.
NEW YORK (Reuters) – General Electric Co’s (GE.N: Quote, Profile, Research, Stock Buzz) $16.9 billion bid for Alstom SA’s (ALSO.PA: Quote, Profile, Research, Stock Buzz) power business will do little to slow down GE’s oil and gas division, according to the head of the unit, even though such a transaction could preclude any more big deals by the U.S. conglomerate until after next year.
“We’re looking to continue the pace of growth and continue to grow in line with the market, if not ahead of the market, and increase our presence within GE,” Lorenzo Simonelli, president of GE Oil & Gas, said in an interview.
NEW YORK (Reuters) – The head of General Electric said on Wednesday talks with the French government on its offer for Alstom’s energy assets had been “productive” and expressed confidence that the deal would go through despite a potential rival offer from Germany’s Siemens.
“We think we’ve got a good deal and it’s going to be executed,” Chief Executive Jeff Immelt told reporters.
NEW YORK (Reuters) – Turmoil in Ukraine and a series of Western sanctions on Russia are starting to hurt some U.S. corporations doing business in the region, with the latest round of U.S. penalties threatening to complicate matters further.
The companies have expressed concern about the weak Russian economy, the ruble’s decline and the potential for the crisis to worsen. There are also worries about a possible backlash in Russia against Western products.
(Reuters) – Diversified manufacturer Eaton Corp (ETN.N: Quote, Profile, Research, Stock Buzz) on Tuesday forecast second-quarter profit below Wall Street’s target, weighed down by restructuring costs.
Shares of the U.S. maker of electrical and hydraulic systems fell 2.5 percent in afternoon trading, even though the company reported slightly better-than-expected first-quarter earnings
April 29 (Reuters) – Diversified manufacturer Eaton Corp
on Tuesday forecast second-quarter profit below Wall
Street’s target, weighed down by restructuring costs.
Shares of the U.S. maker of electrical and hydraulic systems
fell 2.5 percent in afternoon trading, even though the company
reported slightly better-than-expected first-quarter earnings
NEW YORK (Reuters) – Economic growth may be slowing in China, and fears of a credit crunch there may be rife, but the world’s second-largest economy was a driving force for U.S. company profits in the last quarter.
Some of the biggest names in Corporate America, including Coca-Cola Co (KO.N: Quote, Profile, Research, Stock Buzz), General Motors Co (GM.N: Quote, Profile, Research, Stock Buzz), United Technologies Corp (UTX.N: Quote, Profile, Research, Stock Buzz) and McDonald’s Corp (MCD.N: Quote, Profile, Research, Stock Buzz) all in the past week reported strong results from their China operations. In some cases this helped to offset weakness in the U.S. or Europe.
(Reuters) – United Technologies Corp (UTX.N: Quote, Profile, Research, Stock Buzz) reported a higher-than-expected quarterly profit on Tuesday, helped by revenue growth across its aerospace and commercial building segments and strong sales in China.
The diversified manufacturer of elevators, jet engines and climate control systems, also lifted the low end of its 2014 earnings forecast.
(Reuters) – General Electric Co (GE.N: Quote, Profile, Research) posted a 12 percent rise in overall industrial profits on Thursday, as strength in its businesses selling gas turbines, jet engines and oil industry equipment offset weakness in healthcare and transportation.
GE, which is increasingly focusing on its traditional manufacturing businesses over its finance unit, posted an 8 percent increase in industrial revenue, even as overall company revenue fell slightly short of Wall Street’s target.