GE Exits Lending Business, Approves $50 Billion Stock Buyback

April 10, 2015 1:02 PM

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General Electric is getting out of the lending business and back to its industrial roots.

The conglomerate announced on Friday that it was shedding most of GE Capital, its financial arm. It also said it would use the proceeds to fuel a massive $50 billion share buyback program.

Also read: Spice Maker McCormick Adds French’s Mustard to Its Shelf in $4 Billion Deal

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