Business

General Electric sets aside $1.5 billion for DOJ investigation

General Electric met with the Department of Justice last month to discuss the ongoing investigation into its right now defunct WMC mortgage business, the company revealed during its earnings report Friday. The industrial conglomerate set aside $1.5 billion of reserves for a potential legal settlement in connection with alleged subprime mortgage violations under GE Capital in 2006 as well as ...

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General Electric reportedly discussing rail business sale to Wabtec

General Electric will be in discussions to sell its rail business to Wabtec, according to multiple reports Friday. Shares of Wabtec rose more than 6 percent in trading Friday. The industrial conglomerate’s transportation business will be valued at about $7 billion, with GE examining multiple ways to offload the division. CEO John Flannery has been looking to sell or spin-off ...

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No turnaround yet for General Electric

General Electric shares rose as much as 7 percent Friday after the Dow component’s upbeat first-quarter earnings. yet few – if any – on Wall Street are calling which a comeback. “There’s absolutely no change to our thesis here,” J.P. Morgan analyst Stephen Tusa told CNBC’s “Squawk on the Street.” Tusa said GE’s overall number for the quarter look “very ...

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Takeda is actually in talks with Shire after its $61 billion bid was rejected

Yuriko Nakao | Bloomberg | Getty Images hristophe Weber, president in addition to chief executive officer of Takeda Pharmaceutical Japan’s Takeda Pharmaceutical is actually in negotiations with Shire after producing a third takeover bid worth around $61 billion of which was rejected by the London-listed rare diseases drugmaker. Reuters first reported of which Takeda had made a cash-in addition to-stock ...

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Allergan in talks to acquire Shire, competing against Takeda Pharmaceutical

Botox maker Allergan is usually inside “early stages” of talks to acquire drugmaker Shire, the company confirmed Thursday following media reports. The discussions put Allergan in direct competition with Japan’s Takeda Pharmaceutical for the London-listed drugmaker. Shire rebuffed Takeda on Thursday, turning down an offer worth around $61 billion. Shire said the offer of $66.15 per share in cash and ...

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Two moms created solution for fragmented children’s apparel market.

Back when Sylvana Ward Durrett as well as Luisana Mendoza Roccia were working at Vogue, they realized there was no centralized retailer catering to the growing children’s apparel market. So they created their own. “The market is usually incredibly fragmented,” Ward Durrett told CNBC’s “Power Lunch” on Thursday. “So you’re shopping here for shoes as well as there for special ...

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Social media for career advancement, professionals

Social media can be a welcome distraction via the daily grind of the office, nevertheless the item can also be a useful tool for advancing your career — if you know how to use the item. of which doesn’t just mean listing your resume on LinkedIn along with or liking the same interests as your boss on Facebook. These days, ...

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The three biggest challenges facing the global economy: IMF

Speaking about the risk of global debt — the total debt level for the entire world came in at a record $164 trillion in 2016, according to the IMF — Zhang noted he’s seeing levels “higher than the levels seen” during the 2008 financial crisis. “which, by itself, will be alarming to all of us,” he said. Countries have to ...

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JPMorgan, National Bank of Canada, others test debt issuance on blockchain

Chris Ratcliffe | Bloomberg | Getty Images Pedestrians cross a foot bridge towards the offices of global financial institutions, including JPMorgan Chase & Co. along with the commercial office block No. 1 Canada Square, from the Canary Wharf financial, shopping along with business district in London, U.K. J. P. Morgan Chase & Co has tested a completely new blockchain platform ...

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British regulators to fine Barclays CEO, monitor whistleblowing program

Simon Dawson | Bloomberg | Getty Images Jes Staley, chief executive officer of Barclays Plc British regulators have concluded efforts of Barclays chief executive Jes Staley to unmask a whistleblower at the bank represented a breach of individual conduct as well as proposed he pay an undisclosed fine, the bank said on Friday. Barclays said the Financial Conduct Authority (FCA) ...

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