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Stock Market & Financial Investment News

News Breaks
June 19, 2014
13:23 EDTGESynchrony Bank resolves outstanding inquiries in settlement with CFPB, DOJ
Synchrony Bank announced it has reached agreements with the Consumer Financial Protection Bureau and the Department of Justice to resolve two previously disclosed inquiries. The CFPB agreement and a related DOJ agreement resolve an issue related to the omission of certain delinquent cardholders with Puerto Rico addresses or Spanish-preferred indicators on their accounts from two collections offers. The Bank identified this matter through its own internal audit, promptly reported it to the CFPB, and commenced a remediation that will result in $11M of payments or credits on active accounts, all but $2M of which has already been paid, and $158M of waivers or credits on closed and written-off accounts. The CFPB agreement also resolves the Bank’s involvement in the CFPB’s industry-wide investigation related to “Add On” products. The Bank’s settlement covers telesales of debt cancellation products from January 2010 to October 2012. The Bank ceased such sales in 2012, and after its own internal review, refunded more than $11M in fees. As part of the CFPB agreement, it will refund an additional $32M, and pay civil penalties of $3.5M. On June 2, GE Capital Retail Bank changed its name to Synchrony Bank and is part of the GE Capital Retail Finance business. The name change is currently in process and the transition will occur over the next few months, Synchrony stated.
News For GE From The Last 14 Days
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March 4, 2015
08:54 EDTGEGE to provide Stockholm Vatten with MBR equipment
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07:23 EDTGEGE CEO Immelt not leaving the company, TheStreet reports
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March 3, 2015
11:03 EDTGEAnalyst says GE's Immelt may leave in industrial CEO exodus, Bloomberg says
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10:52 EDTGEGeneral Electric March weekly volatility elevated, shares near three-month high
General Electric March weekly call option implied volatility is at 19, March is at 15, April and May is at 14, ; compared to its 26-week average of 15 according to Track Data, suggesting large near term price movement.
February 25, 2015
05:22 EDTGEGE Healthcare selected as strategic partner by Kenyan Ministry of Health
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February 24, 2015
18:02 EDTGEGeneral Electric director purchases $20M of company stock
According to regulatory filings, GE director William G. Beattie purchased 800,000 shares of GE for $20,096,000 on February 18 and 19.
February 23, 2015
12:07 EDTGEEU opens probe in GE's proposed acquisition of Alstom's energy business
The European Commission has opened an in-depth investigation to assess whether General Electric's (GE) proposed acquisition of the Thermal Power, Renewable Power & Grid businesses of Alstom (ALSMY) is in line with the EU Merger Regulation. The Commission’s preliminary investigation indicates potential competition concerns in the market for heavy-duty gas turbines which are mainly used in gas-fired power plants. The transaction would bring together the activities of GE, the world's largest manufacturer of heavy-duty gas turbines, with those of Alstom, eliminating one of the three main global competitors to GE in this market. The opening of an in-depth inquiry does not prejudge the final result of the investigation. The Commission now has 90 working days, until 8 July, to take a final decision. Reference Link
February 20, 2015
08:26 EDTGEArc Logistics to acquire all membership interests Joliet Bulk for $216M
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February 18, 2015
11:14 EDTGEGE, Alstom deal likely to face intense EU scrutiny, Reuters says
General Electric's (GE) deal for Alstom's (ALSMY) power equipment business is likely to face an intense EU antitrust investigation, says Reuters, citing people familiar with the matter. Reference Link
07:07 EDTGEBarclays to hold a conference
Industrial Select Conference is being held in Miami on February 18-19.

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