GE takes one-off hit of $6.2 bn linked to insurance activities
Electric
New York - Emirates voice
General Electric said Tuesday it would book a one-off charge of $6.2 billion on its accounts for the fourth quarter of 2017, following a review of its insurance businesses.
"GE announced today that the comprehensive review and reserve testing for GE Capital's run-off insurance portfolio, North American Life & Health (NALH), will result in an after-tax charge of $6.2 billion for the fourth quarter of 2017," the group said in a statement.
Last year, the group's GE Capital unit initiated "a comprehensive review" of the group's insurance reserves, said chief executive, John Flannery.
"We have been taking ongoing actions to make GE Capital smaller and more focused while maintaining its key capabilities to support financing for GE Industrial products," Flannery continued.
"These actions will also help restore GE Capital ratios to appropriate level," he said, adding that "a charge of this magnitude... is deeply disappointing."
GMT 06:19 2018 Saturday ,13 January
JPMorgan Chase earnings drop on weak trading, tax itemsGMT 06:23 2017 Sunday ,10 December
Bitcoin futures launch sparks excitement,warningsGMT 06:10 2017 Sunday ,03 December
Buy it with bitcoin in New York, but it's not cheapGMT 07:44 2017 Wednesday ,29 November
Nearly 175 mn US shoppers hit stores over holidayGMT 08:01 2017 Saturday ,25 November
Black Friday sales kick off US shopping season
With Job Cuts, China Deal
France's Carrefour revamps operations
Paris - Emiratesvoice
France's Carrefour group said Tuesday it is overhauling its business in a transformation plan involving thousands of job cuts, a product revamp and new partnerships in China. Carrefour, which was the world'sTo partake in Beiteddine Festivals
Singer Bruni arrives in Beirut Sunday evening
Beirut - NNA
French renowned singer and supermodel, Carla Bruni, is expected to arrive this evening at Rafic Hariri International Airport in Beirut, accompanied by her husband, former French President Nicolas Sarkozy. BruniIn France
Microsoft to open 4 data centres
Paris - Emiratesvoice
Microsoft is to open 4 data storage centers in France to meet strong customer demand for cloud computing, the head of the software giant's French operations told the Agence France-Presse onIn Olympic Spotlight
'Friendly and kind' N. Korean skaters
Taipei - Emiratesvoice
North Korea's figure skaters Ryom Tai-Ok and Kim Ju-Sik are "friendly and kind and a little bit shy", South Korea's Kim Kyueun said Tuesday ahead of their hugely anticipated Olympic appearance. The skater is competing with her partner Alex Kam in theFor $11.6 Bn
Sanofi buys US haemophilia treatment
Paris - Emiratesvoice
French pharmaceutical firm Sanofi said Monday it had reached an agreement to purchase US biotech company Bioverativ, which specialises in treatments for haemophilia and rare blood disorders, for $11.6 billion. Sanofi's chief executive Olivier Brandicourt said the acquisition "enhances its presence in specialtyParis show pays homage
to 'eternal style' of late Alaia
Paris - Emiratesvoice
Two months after legendary designer Azzedine Alaia's sudden death plunged the fashion world into mourning, an exhibition in homage to the "King of Cling" opens Monday in his studios in Paris. The Tunisian-born designer, renowned for the way his clothes hugged the body, died suddenly in November aged 82, reportedly of heart failure after falling down the stairs at his home. The diminutive maverick, who ignored fashion week convention by showing when and where he wanted, in July produced his first couture collection in six years to rapturous reviews. Now some of his most iconic dresses are going on display in the glass-roofed gallery next to his studio and home in the Marais district where he used to show his creations. It includes the dress worn by supermodel Naomi Campbell, his longtime friend and muse, when she led
GMT 10:18 2016 Wednesday ,23 March
cartoon seven
GMT 20:55 2017 Monday ,07 August
Philippine president on human rights: "Don't go there"
GMT 15:36 2017 Thursday ,04 May
27 hurt in turbulence on Aeroflot Moscow-Bangkok flight
GMT 00:31 2017 Tuesday ,21 February
Knowledge without Borders Celebrates UAE National Sports Day
GMT 11:17 2017 Monday ,25 December
2017: A look back at Trump’s foreign policy in the Middle East
GMT 09:13 2017 Monday ,10 July
How UAE residents can keep their Snapchat accounts safe
GMT 10:34 2017 Sunday ,29 October
Belgium sets up English-language business courtGMT 22:08 2011 Friday ,29 April
\'Cedar mafia\' threatens Morocco\'s cherished wood
GMT 14:31 2017 Wednesday ,22 November
'Real chance' to end Syria war, Putin tells Turkey, Iran leaders
GMT 21:12 2017 Tuesday ,14 November
Kuwait condemns oil pipeline blast
GMT 21:53 2014 Monday ,22 December
Neureuther wins 10th World Cup race
GMT 07:45 2015 Friday ,18 December
Over South African golden rhino figurine
GMT 08:32 2015 Monday ,09 March
US military chief in Baghdad amid Iraqi offensive
GMT 21:57 2016 Wednesday ,16 March
Proud Afridi powers Pakistan to big opening World T20 winGMT 14:30 2011 Wednesday ,15 June
Abu Dhabi to improve vegetable cultivation
GMT 20:01 2017 Tuesday ,08 August
Qatar represents threat to Gulf security
GMT 10:32 2017 Friday ,09 June
Foreign Minister Arrives in Muscat
GMT 22:43 2017 Friday ,05 May
Emir Meets with Marshall of Polish Senate
GMT 21:57 2017 Tuesday ,02 May
27 ISIS Militants killed in Clashes with Taliban in Afghanistan
GMT 11:46 2017 Monday ,12 June
Empower’s ‘Smile at 24 degrees’ campaign
GMT 21:28 2017 Tuesday ,21 February
St Etienne say not obsessed by nemesis Ibrahimovic
GMT 21:57 2017 Thursday ,28 September
Alba Line 6 Expansion Project on target
GMT 14:38 2017 Monday ,08 May
Oman transport: Minister travels on Mwasalat bus and taxi
GMT 23:20 2017 Saturday ,06 May
Qatar, Saudi Arabia Joint Coordination Council in Jeddah
GMT 07:24 2018 Saturday ,13 January
Tunisia protesters give government yellow card
GMT 06:26 2017 Sunday ,31 December
Key events around the world in 2017
GMT 16:33 2017 Tuesday ,28 November
Oil market stability improving: OPEC Chief
GMT 08:42 2017 Thursday ,07 December
KSA denounces Trump’s Jerusalem move
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor