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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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September 2, 2014
15:02 EDTGEBids from General Electric, buyout funds line up for Petrovalves, Reuters says
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11:01 EDTGEGE Intelligent Platforms receives $1.5M order from Sainsel
GE Intelligent Platforms announced that it has received orders from Sainsel Sistemas Navales of Madrid, Spain for a range of GE’s rugged embedded computing systems that will be deployed as part of Sainsel’s aeronautics program. GE’s boards will be used in new equipment developed by Sainsel as part of a mission system. Initial value of the order is $1.5M; long term value is expected to be $7M.
September 1, 2014
08:57 EDTGEGE Healthcare announces EU approval of Vizamyl
GE Healthcare announced that Vizamyl has received marketing authorization from the European Commission as a radiopharmaceutical medicinal product indicated for Positron Emission Tomography imaging of beta amyloid neuritic plaque density in the brains of adult patients with cognitive impairment who are being evaluated for Alzheimer’s disease and other causes of cognitive impairment. Vizamyl is the only PET imaging tracer for detection of amyloid approved in Europe for visual interpretation of colour images and will be commercially available in selected European countries from early 2015, GE said.
August 29, 2014
15:13 EDTGEQuirky drops out of bidding to buy appliance unit from GE, Bloomberg says
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08:44 EDTGEQuirky drops out of bidding to buy appliance unit from GE, Bloomberg says
August 25, 2014
10:01 EDTGEHill-Rom reports settlement in patent infringement lawsuit with GE
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07:34 EDTGEBristow Group appoints Akiri Chief Corporate Development officer
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August 22, 2014
18:16 EDTGEGeneral Electric equipped 787 Dreamliner approved by regulators, WSJ says
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18:05 EDTGEGeneral Electric awarded $123.4M government contract
General Electric Company, Lynn, Massachusetts, has been awarded a maximum $123,409,100 firm-fixed-price contract for compressor parts. This contract is a sole-source acquisition. This is a five-year base contract, with no option periods. Location of performance is Massachusetts, with an Aug. 21, 2019 performance completion date. Using military service is Army. Type of appropriation is fiscal 2014 Army working capital funds. The contracting activity is the Defense Logistics Agency Aviation, Redstone Arsenal, Alabama.
08:01 EDTGEGE CFS, VNG.co to support expansion of CNG fueling infrastructure
GE Capital Fleet Services announced an agreement with VNG.co, a national CNG fueling facility provider, to support the expansion of the CNG refueling infrastructure for light-duty fleet vehicles. Through the agreement with VNG, GE Capital Fleet Services’ customers will be able to take advantage of the increasing accessibility of CNG fueling stations, minimize overall fuel costs and meet financial and environmental objectives through the use of a lower cost, more stably priced, environmentally friendly and domestically sourced fuel.
August 20, 2014
08:11 EDTGEGE Healthcare Life Sciences announces new U.S. headquarters in MA
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August 19, 2014
17:31 EDTGEGE plans to invest $3.5B in aircraft engine unit, Nikkei says
General Electric plans to invest $3.5B in its aircraft engine business over the five years to 2017, as it looks to boost production, says Nikkei. Reference Link
06:22 EDTGEGeneral Electric in talks with Electrolux to sell appliance business, WSJ says
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