Jan 16, 2018

GE considering breakup

Axios

Photo: Smith Collection/Gado/Getty Images

GE CEO John Flannery said today the giant conglomerate was thinking of breaking itself up into separate units, the Wall Street Journal reports. Flannery said a decision could come this spring on the "best structure or structures for our businesses."

Why this matters: A breakup of the remaining operations would be "a shift from decades of deals that once made it the most valuable company in the U.S.," the WSJ wrote, and the paper's financial editor called it "an end of a long and glorious era of American industrial might."

General Electric this morning also said that it will book a $6.2 billion after-tax charge in its Q4 results, based on worse-than-expected problems related to GE Capital's insurance portfolio. GE Capital also will pay $15 billion over seven years to fill an insurance reserves shortfall. Its dividends to the parent company will remain suspended indefinitely.

  • All of this is sure to become more grist for the reported feud between former GE chief executives Jack Welch and Jeff Immelt.

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Axios

World coronavirus updates: Confirmed cases top 1 million

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens and confirmed plus presumptive cases from the CDC

Novel coronavirus infections have hit the 1 million mark after "near exponential growth" that's reached "almost every country," World Health Organization Director-General Tedros Adhanom Ghebreyesus said Thursday.

The big picture: The global death toll exceeded 50,000 on Thursday, per Johns Hopkins data. Italy has reported nearly 14,000 deaths. Governments around the world have introduced public health and economic measures to try and curb the impact of the virus.

Go deeperArrowUpdated 24 mins ago - Health
Axios

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 6 p.m. ET: 1,007,997 — Total deaths: 52,771 — Total recoveries: 210,055 — Map.
  2. U.S.: Total confirmed cases as of 6 p.m. ET: 236,339 — Total deaths: 5,648 — Total recoveries: 8,861 — Map.
  3. 2020 update: The Democratic National Committee said its July convention will be postponed until August because of the coronavirus.
  4. Jobs latest: The coronavirus unemployment numbers are like a natural disaster hitting every state
  5. Public health latest: FDA allows blood donations from gay men after 3-month waiting period, citing "urgent need."
  6. U.S.S. Theodore Roosevelt: Navy removes captain of aircraft carrier who sounded alarm about coronavirus.
  7. What should I do? Answers about the virus from Axios experts — What to know about social distancing — Q&A: Minimizing your coronavirus risk.
  8. Other resources: CDC on how to avoid the virus, what to do if you get it.

Subscribe to Mike Allen's Axios AM to follow our coronavirus coverage each morning from your inbox.

Keep ReadingArrowUpdated 37 mins ago - Politics & Policy
Fadel Allassan

Judge declines to delay Wisconsin April 7 primary, extends absentee deadline

Photo: Darren Hauck/Getty Images

A federal judge on Thursday declined to delay Wisconsin's April 7 primary election, saying he doesn't have the authority to do so.

Why it matters: Wisconsin is the only state scheduled to vote next Tuesday that has not yet delayed its primary.

Go deeperArrow2 hours ago - Politics & Policy