General Electric stock gained this week as the conglomerate announced its plans to sell interest in financial services sector and concentrate on manufacturing and the core sectors of the group. GE CEO Jeff Immelt had earlier indicated that the company management was planning to concentrate on few sectors and to improve margins in those segments.
General Electric plans to sell off its financial services and real estate operations. Before 2008 financial crisis, the financial services segment brought more than 50 percent profit for the company. The share of financial services in GE’s profit will reduce to less than 10 percent by year 2018. CEO...
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