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United Kingdom

Alwyn Scott

GE to freeze, pre-pay pensions to save up to $8 billion, cut debt

08 Oct 2019

General Electric Co said on Monday it would freeze pensions for about 20,000 salaried U.S. employees and take other related moves to help the ailing conglomerate cut debt and reduce its retirement fund deficit by up to $8 billion.

General Electric wins partial dismissal of shareholder lawsuit

30 Aug 2019

NEW YORK A federal judge in Manhattan on Thursday partially dismissed a lawsuit by investors in General Electric Co that accused the company of concealing $24 billion (19.55 billion pounds) in insurance liabilities and using fraudulent accounting to prop up its power business.

General Electric stock drop attracts more short-sellers: S3 Partners

20 Aug 2019

NEW YORK Betting against General Electric Co stock has increased in the last week as the stock has fallen following a report by fraud investigator Harry Markopolos that questioned the conglomerate's accounting, financial analytics firm S3 Partners said on Tuesday.

General Electric insurance called 'risky' by Fitch; shares fall again

20 Aug 2019

NEW YORK General Electric Co ranks among the riskiest backers of long-term care insurance, suffering from both high exposure to claims and a relatively small cash pile to pay them, Fitch Ratings said in a report on Tuesday that sent GE's shares tumbling.

General Electric ranks among riskiest long-term care insurers -Fitch

20 Aug 2019

NEW YORK, Aug 20 General Electric Co ranks among the riskiest backers of long-term care insurance, suffering from both a high exposure to claims and a relatively small cash pile to pay them, Fitch Ratings said in a report on Tuesday.

General Electric fortifies defense against charges of bogus accounting

20 Aug 2019

NEW YORK General Electric Co reinforced its defense of its accounting practices on Monday after investors asked more questions about an unusual research report last week that accused the jet engine and power plant maker of financial fraud.

General Electric renews defense against charges of bogus accounting

19 Aug 2019

NEW YORK, Aug 19 General Electric Co further defended itself on Monday against fraud investigators who said last week the Boston-based conglomerate had failed to put aside money to cover $29 billion in potential insurance losses and had improperly counted profit from subsidiary Baker Hughes as its own.

GE shares fall on Madoff whistleblower calling its finances a fraud

15 Aug 2019

General Electric Co shares fell as much as 15% on Thursday after fraud investigator Harry Markopolos, who blew the whistle on Bernard Madoff's Ponzi scheme, said GE was concealing deep financial problems, prompting a sharp rebuke from GE's new CEO. | Video

GE shares fall on Madoff whistleblower calling its finances a fraud

15 Aug 2019

General Electric Co shares fell as much as 15% on Thursday after fraud investigator Harry Markopolos, who blew the whistle on Bernard Madoff's Ponzi scheme, said GE was concealing deep financial problems, prompting a sharp rebuke from GE's new CEO. | Video

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