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Tag Archives: General Electric

GE sell-off of financial assets goes on

NEW YORK (AP) — General Electric’s sell-off of its financial and lending operations continues, the latest a $485 million deal for its GE Asset Management. GE said last year that it was putting the unit on the block and on Wednesday confirmed a sale to State Street Corp., which expects to increase its assets under management by about $100 billion. General ...

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Clothes drying could soon reduce its footprint

Imagine drying a piece of clothing using vibrations instead of actual heat. That’s what Ayyoub Momen, of Oak Ridge National Laboratory (ORNL), hopes to do with the ultrasonic dryer, saving energy in the process. It could also reduce drying times to 15 to 20 minutes a load. Using vibrations could lead to significant energy savings, marking a departure from today’s ...

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Multi-billion dollar merger awaits European Commission approval

Siemens’ $7.6 billion deal to acquire Houston-based Dresser-Rand Group, which was announced in September 2014, is not going as smoothly as expected. Siemens, a German industrial company, is having difficulty receiving approval from the European Commission, the European Union’s executive body. According to the Houston Business Journal, the European Commission said it has opened an in-depth investigation to assess whether ...

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Sabine Pass enlists GE maintenance services for $1 billion

The Sabine Pass LNG facility, one of several liquefied natural gas (LNG) facilities popping up on the Gulf Coast, now has the full technical support of General Electric for equipment GE provided for the project. GE and Sabine Pass Liquefaction, a subsidiary of Cheniere Energy Partners, have signed a $1 billion deal which gives the energy giant an even larger ...

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Assessing the fallout from the fall in oil prices

NEW YORK – With crude oil prices hitting five-year lows, investors are scrambling to gauge the impact of the sharp drop in petroleum costs on companies beyond the energy sector. Determining the effects of the decline in commodities prices for ancillary industries is difficult. So it will be instructive to see what kind of comments come out of a number ...

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Oil price drop, merger talks feed energy sector deal speculation

smokey pump jack

NEW YORK, Nov 14 – Talks that could lead to oilfield services provider Halliburton Co buying rival Baker Hughes Inc may herald increased deal-making in the energy business as companies bet on a protracted drop in oil prices, industry bankers said. Competing service companies including National Oilwell Varco Inc and Weatherford International may also be targets, bankers and lawyers said. ...

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Siemens to buy Dresser-Rand to tap U.S. shale gas boom

Ludwig Burger Georgina Prodhan FRANKFURT (Reuters) – Germany’s Siemens <SIEGn.DE> has agreed to buy U.S. oilfield equipment maker Dresser-Rand <DRC.N> for $7.6 billion in cash, aiming to catch up with arch-rival General Electric <GE.N> in a booming U.S. shale gas market. The acquisition, which ranks among the biggest in the history of the German industrial group, will strengthen Siemens’ position in ...

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