The inability to access export finance is causing sales loss for several US majors including Boeing Co. The board of US Export-Import Bank is yet to be accommodated with a third member, without this export finance exceeding $10 million can't be approved.
GE Oil & Gas CEO Lorenzo Simonelli's visit to Iran has started speculations regarding the American company seeking opportunities in the rapidly improving Iranian oil and gas sector. Simonelli is among the first few Americans to step into this country after its international sanctions over nuclear programs were finally lifted. Iran is now focused on sweetening the oil development contracts to attract foreign investors.
Adding one more tool to the Internet of Things (IoT), Amazon Web Services (AWS) has announced the launch of 'Amazon IoT,' a new service from the online retailer.
The closure of the US Export-Import Bank (EXIM) charter is forcing the US companies to explore business options overseas. Major aerospace companies, which have been benefiting from export financing and other encouraging schemes from EXIM, are in favor of shifting out of the US. General Electric (GE) has already firmed up to its plan to set up $400-million turboprop engine in Europe. Aerospace Industries Association (AIA), the largest US aerospace trade group, expresses concerns that many aviation companies are losing their competitiveness in the absence of support from EXIM. However, conservative Republicans are against EXIM charter as it's confined to only three major companies.
American global conglomerate General Electric (GE) has floated a new unit 'GE Digital' to position itself a leader in Industrial Internet of Things. The newly created unit GE Digital will integrate GE software center, knowledge of its global IT teams and industrial security expertise of Wurldtech. Bill Ruh has been appointed as Chief Digital Officer to lead the GE Digital. GE Digital aims to be among global top-10 software companies by 2020.
Internet of Things (IoT) is poised to become a $7-trillion market over next five years on the most conservative basis and 50 billion new connections during the same period. Some other project the mobile wallet industry will be worth $14.4-trillion market in the near future.
General Electric Co (GE.N) said on Monday for the first time it would be willing to consider concessions in order to win European approval to acquire the power equipment unit of France's Alstom (ALSO.PA).
Bombardier Inc is exploring a possible sale of all or part of its railway business, which bankers value at up to $5 billion, among options to pay for huge cost overruns in its aircraft business, sources familiar with the matter said.
General Electric Co projects revenue growth in the high single digits for Latin American in 2015 despite difficulties in major markets such as Brazil and Venezuela, the company's chief executive for the region said on Thursday.
General Electric Co is nearing a deal to sell practically all of its $30 billion real estate assets to a consortium led by Blackstone Group and Wells Fargo & Co, according to a person familiar with the matter.
A group comprising KKR & Co, Varde Partners and Deutsche Bank are looking to securitize about A$7 billion ($5.33 billion) of debt they acquired from a unit of GE, three sources with knowledge of the matter said.
With crude oil prices hitting five-year lows, investors are scrambling to gauge the impact of the sharp drop in petroleum costs on companies beyond the energy sector.
Alstom (ALSO.PA), which is selling most of its power arm to General Electric (GE.N) to focus on train-making, could halve staff at its Belfort plant in eastern France to cope with flagging locomotive demand, Alstom's main union warned on Friday.
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 energy usage.
General Electric Co's (GE.N) $16.9 billion purchase of the power assets of France's Alstom (ALSO.PA) is on pace for closing in the middle of next year after passing several steps, the head of GE's power business said on Wednesday.