General Electric

General Electric scales back Boston HQ plans

Construction on GE's new Boston headquarters
Construction on GE's new Boston headquarters in April 2018. Photo: David L. Ryan/The Boston Globe via Getty Images

Just hours after Amazon bailed on New York City, General Electric confirmed Thursday that it will scale back plans for a new headquarters in Boston. It also will reimburse Massachusetts for $87.4 million in incentive payments.

The bottom line: New jobs promises are empty until people are actually hired.

Apollo looks to lead private equity in 2019

Illustration: Sarah Grillo/Axios

Apollo Global Management is positioning itself to dominate the early 2019 private equity market, with others watching closely to see if it can get big deals over the finish line.

The big picture: It's prepping an offer to buy GE's aircraft leasing business, which could be valued at upwards of $40 billion, per Reuters. It remains in talks to buy aluminum parts giant Arconic for around $11 billion, following that company's bitter battle with activist investor Elliott, which is now working with Apollo.

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