GE CEO sees "plenty of opportunities" for more asset sales

Photo: Tim Brakemeier/Picture Alliance via Getty Images

General Electric CEO Larry Culp, who's been on the job for six weeks, said in an interview with CNBC on Monday that the company plans to raise cash by selling more assets.

Why it matters: You can expect the shrinking conglomerate to shrink even more. GE needs to pay down its huge debt pile, and Culp said selling the "transportation business, and the coming exit of the Baker Hughes oil field services business" could free up cash to do that, per CNBC. Shares of GE fell below $8 for the first time in almost a decade.

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Rebecca Falconer, Laurin-Whitney Gottbrath
Updated 32 mins ago - Science

Deadly Hurricane Zeta slams U.S. Gulf Coast

A satellite image of Hurricane Zeta. Photo: National Hurricane Center/NOAA

Hurricane Zeta has killed at least one person after a 55-year-old man was "electrocuted by a downed power line" in Louisiana as the storm caused widespread power outages Wednesday night, per AP.

What's happening: Zeta made landfall south of New Orleans as a Category 2 hurricane earlier Wednesday before weakening to Category 1. But it was still "battering southeastern Louisiana and southern Mississippi with life-threatening storm surge, high winds, and heavy rain" late Wednesday, per the National Hurricane Center.

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Axios
Updated 55 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Politics: Biden ahead in Wisconsin, Michigan as cases surge in the Midwest.
  2. Health: Fauci says U.S. may not return to normal until 2022 — Trump's testing czar: Surge "is real" and not just caused by more tests — Some coronavirus survivors have "autoantibodies."
  3. Business: Consumer confidence sinking — Testing is a windfall.
  4. World: Europe faces "stronger and deadlier" wave — France imposes lockdown — Germany to close bars and restaurants for a month.
  5. Sports: Boston Marathon delayed — MLB to investigate Dodgers player who joined celebration after positive COVID test.
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Axios
1 hour ago - Health

Fauci says U.S. may not return to normal until 2022

Director of the National Institute of Allergy and Infectious Diseases, Anthony Fauci, testifies during a September Senate hearing on COVID-19 in Washington, D.C. Photo: Graeme Jennings/Pool/AFP via Getty Images

NIAID director Anthony Fauci told the Journal of the American Medical Association on Wednesday he doesn't expect a COVID-19 vaccine to be ready until January 2021 or later.

What he's saying: Fauci said during the interview that the U.S. was in a "bad position" after failing to keep case numbers down post-summer. "We should have been way down in baseline and daily cases and we’re not," he said.

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