Sep 25, 2017

GE sells Industrial Solutions unit for $2.6 billion

Ben Geman, author of Generate

Photo: Paul Sakuma / AP

ABB, the Swiss multinational tech and engineering giant, announced a $2.6 billion deal Monday to acquire GE Industrial Solutions, the General Electric unit that makes an array of electrical equipment.

  • "With GE Industrial Solutions, we strengthen our Number 2 position in electrification globally and expand our access to the attractive North American market," ABB CEO Ulrich Spiesshofer said in a statement.
  • The GE unit — which makes a wide range of electrical equipment like transformers and circuit breakers — had revenue of $2.7 billion last year, according to ABB.
  • Go deeper: The Wall Street Journal explores how the deal is part of GE's efforts to streamline its sprawling operations.

Go deeper

Rebecca Falconer
Updated 29 mins ago - Politics & Policy

Supreme Court blocks Alabama curbside voting measure

Photo: Mark Wilson/Getty Images

The Supreme Court on Wednesday evening blocked a lower court order that would have allowed voters to cast ballots curbside at Alabama polling places on Election Day.

Whit it matters: With less than two weeks until Election Day, the justices voted 5-3 to reinstate the curbside voting ban and overturn a lower court judge's ruling designed to protect people with disabilities during the coronavirus pandemic.

Go deeper (1 min. read)Arrow
Axios
Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Politics: Senate Democrats block vote on McConnell's targeted COVID relief bill — McConnell urges White House not to strike stimulus deal before election.
  2. Economy: Why the stimulus delay isn't a crisis (yet).
  3. Health: New York reports most COVID cases since May — Studies show drop in coronavirus death rate — The next wave is gaining steam.
  4. Education: Schools haven't become hotspots — San Francisco public schools likely won't reopen before the end of the year.
  5. World: Spain becomes first nation in Western Europe to exceed 1 million cases.
Go deeper (1 min. read)Arrow
Jacob Knutson
2 hours ago - Politics & Policy

U.S. officials: Iran and Russia aim to interfere in election

Iran and Russia have obtained voter registration information that can be used to undermine confidence in the U.S. election system, Director of National Intelligence John Ratcliffe announced at a press conference Wednesday evening.

Why it matters: The revelation comes roughly two weeks before Election Day. Ratcliffe said Iran has sent threatening emails to Democratic voters this week in states across the U.S. and spread videos claiming that people can vote more than once.

Go deeper (2 min. read)Arrow