Last year, GE joined forces with BHI to create a USD 32 billion oil business
Jeff Immelt will step down on August 1, handing the reins to GE Healthcare president John Flannery.
Dow Jones Industrial Average fell 30.95 points, or 0.15 percent, to 20,547.76, the S&P 500 lost 7.15 points, or 0.30 percent, to 2,348.69 and the Nasdaq Composite dropped 6.26 points, or 0.11 percent, to 5,910.52.
The companies announced the deal last June, part of a recent wave of consolidation in the wind energy industry as companies seek to rein in costs and remain competitive.
The retailer‘s announcement comes as a hard rap on the knuckles of Indian IT industry, which was already reeling under global gloom in the sector.
In a letter to the Congressional leadership of both the Republican and Democratic parties, the executives from companies like Boeing, General Electric, Oracle and Pfizer supported the comprehensive tax reform, which would end the 'Made in America' tax on domestic production.
Immelt said policies that result in tax reform and improvements in infrastructure could help GE be more productive domestically, but growing internationally through exports is also key to his company's growth.
The new company will be one of the industry's largest players, bringing together a portfolio of capabilities spanning oilfield services, equipment manufacturing and technology.
General Electric Co scaled back expectations for its full-year revenue and profit on Friday, overshadowing third-quarter profit that beat analyst forecasts and sending its shares lower.
The Goods and Services Tax will help India progress and increase productivity, says John Rice Vice Chairman, GE Global. He is optimistic about General Electric's business in India. He forecasts a growth of high single to double digits in the India business.
GE Power India, which was formerly known as Alstom India Ltd, today reported a Rs 63.01 crore standalone loss in the quarter ended June 30.
Tata Consultancy Services today announced that it has developed an innovative digital solution along with General Electric to revolutionise gas turbine manufacturing which could save significant time and costs in the manufacturing process.
Alstom India has been renamed as GE Power India following its acquisition by US giant General Electric.
"Name of the company has been changed with effect from August 2, 2016 from ALSTOM T&D India Ltd to GE T&D India Ltd," the company said in a BSE filing today.
Alstom T&D India today received shareholders' approval for changing the name of the company to GE T&D India as the firm has been taken over by US giant General Electric.
GE vice chairman John Rice, speaking on the sidelines of a company event in Shanghai, told Reuters there was some "level of caution" in reaction to President Xi Jinping's crackdown on corruption even though he broadly welcomed the campaign.
Shares in French transport giant Alstom gave up early strong gains on an upbeat growth outlook today as its its UK chief stepped down over corruption allegations and its Brazilian managers were reportedly being probed for collusion.
At present, General Electric's scale of sourcing and manufacturing from India is close to USD 2.3 billion annually out of which 50 percent of the products sourced in India are for its global supply chain.
The transaction epitomises the changing nature of the global economy, with a 100-year-old US company selling what was once one of its core units to a Chinese upstart that emerged from a refrigerator factory that was nearly bankrupt 30 years ago
The acquisition announced today comes as Haier tries to shed its image as a low-cost brand and move into premium market segments. GE is shifting emphasis from traditional businesses to higher-technology, higher-profit areas such as medical equipment.
GE completed in November its acquisition of the power and grid businesses of Alstom for 9.7 billion euros (USD 10.5 billion) after making a number of pledges to win the support of the French government and fend off competition from rivals like German company Siemens.
Struggling metals giant Alcoa is doing a "very good job" managing through the difficult world economic environment and the slump in commodities prices, billionaire vulture investor Wilbur Ross told CNBC on Monday.
The US Department of Justice asked a federal court in July to stop Electrolux, which makes Frigidaire, Kenmore and Tappan appliances, from buying GE's appliance business and has said the deal would push prices up by five percent.
With world leaders due to meet in Paris from Monday to try to agree a deal to tackle climate change, the World Coal Association (WCA) is touting the use of very hot steam under extreme pressure to raise a power plant's efficiency, which it says can cut the greenhouse gases emitted from burning coal by up to 30 percent.
Announced earlier this month, GE will supply India with 1,000 diesel locomotives and invest USD 200 million to construct a manufacturing facility in the eastern state of Bihar, which is expected to be completed by 2018.