April 10 (Reuters) – General Electric Co said it
would shed the bulk of its finance unit and return as much as
$90 billion to shareholders as it becomes a “simpler” industrial
business instead of an unwieldy hybrid of banking and
GE shares jumped 7.5 percent on Friday after the company
outlined plans for substantially shrinking its GE Capital unit.
The plan includes a buyback of up to $50 billion in GE shares,
the sale of about $30 billion in real estate assets over the
next two years and the disposal of more GE Capital operations.
, April 2 (Reuters) – Pratt & Whitney’s
president said on Thursday the company’s new geared turbofan
commercial engine could be produced in a bigger version for
large widebody plane “with the right business case.”
“I would say the geared technology is very applicable to a
widebody product,” Pratt president Paul Adams told a media
briefing on Thursday, referring to its jet engine which is
designed to be 16 percent more fuel efficient than prior ones.
, April 1 (Reuters) – Jet engine maker
Pratt & Whitney is doubling down on gathering and analyzing data
to predict and prevent problems from occurring as the company is
primed to become more broadly responsible for managing its
Executives with the United Technologies Corp unit
said on Wednesday that a convergence of Pratt’s business
environment with technology advances is paving the way for the
expansion into so-called Big Data.
March 16 (Reuters) – General Electric Co Chief
Executive Officer Jeff Immelt is sticking by his company’s model
for housing diverse businesses under one roof at a time when
other U.S. conglomerates are looking at hiving off units to
In a wide-ranging annual letter to shareholders released on
Monday, Immelt details advantages from such scale through shared
technology and other areas through what he calls the “GE Store.”
NEW YORK (Reuters) – United Technologies Corp’s (UTX.N: Quote, Profile, Research, Stock Buzz) chief executive officer said on Thursday that a sale of its Sikorsky helicopter unit would be “very hard” due to the heavy tax liability that would come with such a disposition.
United Technologies said on Wednesday it is exploring alternatives for Sikorsky, including a potential spinoff. Any buyer is expected to face significant taxes, because the value of Sikorsky has appreciated so much since it became part of United Tech in 1929.
NEW YORK (Reuters) – United Technologies Corp’s (UTX.N: Quote, Profile, Research, Stock Buzz) chief executive officer said on Thursday that the company will spend $1 billion on acquisitions this year, “maybe a little bit more,” even as he eyes bigger targets.
United Technologies CEO Greg Hayes, speaking at investor day in New York where he detailed a potential split off of its Sikorsky helicopter unit, said that the acquisition climate was difficult due to high pricing.
March 12 (Reuters) – United Technologies Corp’s
Sikorsky helicopter unit could be acquired by another big
defense company, but the potential for a big tax bill means the
maker of Black Hawk helicopters will more likely be spun off
into a standalone company, analysts said.
UTC shares were up 1.9 percent on Thursday as company
executives were scheduled to discuss alternatives for Sikorsky,
including a split-off, at an investor day.
March 11 (Reuters) – United Technologies Corp will
explore splitting off its Sikorsky helicopter unit, including a
spinoff into a standalone company, the U.S. manufacturer said.
The company’s board authorized the review, which also could
include a sale of the maker of Black Hawk helicopters. Sikorsky
had $7.5 billion in sales last year. The review is expected to
finish before the end of the year.
Niskayuna, NEW YORK, March 11 (Reuters) – General Electric
Co expects to sell 500 of its more highly efficient gas
power turbines in the next 15 years, a company executive said on
Wednesday during a meeting to spotlight the U.S. conglomerate’s
ability to innovate.
The H-class gas turbine is designed to be more efficient at
converting natural gas to electricity than older turbines. It is
a critical new product for GE’s power business — the company’s
biggest industrial segment — and its prospects are being
closely watched by Wall Street.
(Reuters) – General Electric Co (GE.N: Quote, Profile, Research, Stock Buzz) Chief Executive Officer Jeff Immelt earned roughly 8 percent increases in his salary and cash bonus in 2014, the U.S. conglomerate said in its proxy statement on Tuesday, despite a sluggish performance by GE’s shares last year.
Immelt’s salary rose to $3.75 million while his cash bonus increased to $5.4 million.