General Electrics stock dropped as much as 7.1% on Monday after the company outlined its turnaround plan. The companys earlier announcement that it would cut its dividend sent shares higher initially, but the stock dropped into negative territory once details around the restructuring emerged. GE is looking for a shot in the arm, having fallen…
General Electric set forth a new agenda as it tries to restructure its way back to stronger growth, with earnings estimates lower than Wall Street forecasts, a reduced dividend and an aggressive corporate restructuring. The Boston-based 125-year-old industrial conglomerate also said it was cutting the number of seats on its board. Investors had initially reacted…
(Reuters) – General Electric Co (GE.N) said on Monday it would chop its quarterly dividend in half, as part of an overhaul of the company that new Chief Executive John Flannery is due to roll out later in the day. FILE PHOTO: The ticker and logo for General Electric Co. is displayed on a screen…
(Reuters) – General Electric Co (GE.N) said on Monday it would halve its quarterly dividend, as part of an overhaul of the company that new Chief Executive John Flannery is due to roll out later in the day. FILE PHOTO: The ticker and logo for General Electric Co. is displayed on a screen at the…
The Indonesian government eyed Rp 21 trillion (US$1.55 billion) from the sales of shares of 10 subsidiaries of state-owned enterprises (SOE) through initial public offerings (IPOs) next year. The State-owned Enterprises Ministry announced that the five companies that failed to hold IPOs last year would carry out IPOs next year, while the five others were…
LUXEMBOURG–(BUSINESS WIRE)–Pacific Drilling S.A. (OTCPink: PACDF) today announced that, with the aim to optimize its capital structure pending recovery in the floating rig drilling industry, it and certain of its domestic and international subsidiaries have filed petitions for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for…
General Electric is set to announce plans that will transform the company. In a pre-market opening call to institutional investors on Monday, GE CEO John Flannery will detail his vision for restructuring the company, in an attempt to stop the free fall in the company’s stock price. The price of GE’s shares has plummeted nearly 40…
It is hard to imagine that the empire won’t look radically different in a year. It’s equally hard to imagine a global media landscape in which Rupert Murdoch is not the most powerful player. But the forces for change are now so many and so strong that they will be hard to resist. A massive…
Technology has moved the tectonic plates beneath the Murdoch empire. Regulators are blocking his attempts to expand his reign in the UK. Given the appeal of these assets, Murdoch should have no problem maximising the sale price. Photo: AP And shareholders in 21st Century Fox are threatening to force the unwinding of the voting structure that…
CARACAS, Venezuela — Meet the team in charge of the most complex bond restructuring in recent history: a former military officer, a one-time geography professor, two engineers, a minister under sanctions for alleged corruption and an alleged drug kingpin. Continue Reading Below As the country runs out of cash, Venezuelan President Nicolás Maduro last week…