GE Targets 6 Upstart Businesses for Growth
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General Electric Co. will put its money behind six fledgling businesses, including consumer finance and Spanish-language broadcasting, that can generate $1 billion in operating profit each within the next few years, Chairman Jeffrey R. Immelt said in a letter to shareholders.
He said further that GE would pare businesses in which slow growth is expected as it works to return to double-digit growth.
Immelt identified the growth businesses as health-care information technology; water technology and services; oil and gas technology; security and sensors; Spanish-language broadcasting; and consumer finance in the United States.
GE shares gained 35 cents to $24.30 on the NYSE.
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