GE unveils financial unit restructuring

Time And Money

GE, in a move to become a pure play industrial company, is exiting the financial services business by selling the bulk of the assets contained in its GE Capital unit and returning most of the proceeds from that disposition to shareholders in the form of a $50 billion share buyback.

GE faces rival bid for Alstom from Siemens

Laptop On Train

Siemens entered the battle for French engineering group Alstom on Sunday, after the French government encouraged a European counterbid following a $13bn (£7.7bn) offer last week by the US company General Electric.

Buffett's Berkshire gets $260m GE payday

Warren Buffett

Warren Buffett's Berkshire Hathaway will receive 10.7 million shares of General Electric Thursday, worth $260.6 million at Wedneday's closing price, according to a filing with the SEC.