General Electric reduces finance business (Daily Telegraph)
General Electric is reducing the size of its sprawling international finance business in response to the growing financial crisis.
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GE shares soar on plan to scale back finance arm (Reuters via Yahoo! News)
General Electric Co said on Tuesday it plans to scale back its hefty finance arm and repeated that it will pay its regular dividend next year, sending shares up 13.6 percent, their biggest one-day percentage gain in more than a quarter century.
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GE Rises as Profit Forecast, Finance Plans Keep Dividend Safe (Bloomberg)
Dec. 2 (Bloomberg) -- General Electric Co. rose in New York trading after saying fourth-quarter profit would be in line with analysts’ estimates and reassuring investors that steps to bolster the finance arm will help protect the dividend.
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Great expectations that court ruling will favour Gibraltar • But will this be the end of finance centre woes? (Panorama)
There is general expectation in the finance centre, as well as in the Government and Opposition, that the European court ruling later this month will favour Gibraltar.
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General Electric says it expects 2009 to be difficult year (Tacoma News Tribune)
General Electric Co. said Tuesday that it expects fourth-quarter earnings to be near the low end of its guidance and will take a charge of up to $1.4 billion as it starts to shrink its struggling GE Capital finance arm next year because of the ongoing credit crisis.
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EU finance ministers support economic stimulus plan (People's Daily)
Finance ministers from 27 European Union members agreed here on Tuesday to support a stimulus plan in general though they remained divided concerning certain details. Eurogroup Chairman and Luxembourg Finance Minister Jean-Claude Juncker said that the sum of the plan was not important, but that "everyone agrees with the general direction" was more important. Juncker chaired an eurozone finance ...
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Job cuts in sight for General Electric (London Free Press)
WASHINGTON -- General Electric Co. said yesterday it expects fourth-quarter earnings to be near the low end of its guidance and will take a charge of up to US$1.4 billion as it starts to shrink its struggling GE Capital finance arm next year because of the ongoing credit crisis.
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"Unlike the finance industry, airlines are not asking for handouts" (eyefortravel.com)
IATA has stated that unlike the finance industry, airlines are not asking for handouts. "As the global economic downturn re-shapes the world's financial industry, policy makers must also understand that change is needed in air transport," says Giovanni Bisignani, IATA's Director General and CEO.
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Ahead of the Bell: GE to update on finance unit (AP via Yahoo! Finance)
General Electric Co. is expected to give investors greater detail Tuesday on plans to reorganize its ailing GE Capital finance unit, changes that the company expects will save $2 billion next year but will likely lead to job cuts.
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Budget for general fund, plantilla ok’d (Mindanao Times)
The City Council yesterday approved the city’s general fund annual budget and plantilla for 2009 which amounts to P3,200,030,981; amended from the initial recommendation by the committee on finance, ways, and means of P3,193,445,791.
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