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GE to shrink to three businesses; slashes dividend, profit outlook


By Alwyn Scott and Ankit Ajmera(Reuters) - General Electric Co will radically shrink to focus on aviation, power and healthcare, betting on sectors it thinks it can make profits in, as the most famous U.S. conglomerate tries to revive its share price after a decade and a half of stagnation. The 125-year-old company cut its dividend and profit outlook in half as it goes through the transition, in a widely expected plan unveiled on Monday by new Chief Executive John Flannery in New York. Its shares fell 3.6 percent in early trading to $19.72 as investors worried how the slimmed-down company ...

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First Published: Mon, November 13 2017. 21:23 IST