General Electric Co. agreed to buy Lineage Power Holdings Inc . for $520 million to tap demand for electricity management from a surge in mobile computing, gaining customers from Verizon Wireless to Hewlett-Packard Co.
General Electric Co. expects its energy unit’s sales in China will climb by at least 25 percent annually as the most populous nation adopts more fuel-efficient technology, Chief Executive Officer Jeffrey Immelt said.
General Electric Co.’s agreement today to buy Wellstream Holdings Plc brings its acquisitions of natural gas- and oil-exploration equipment makers to $4.3 billion in the past two months as Chief Executive Officer Jeffrey Immelt taps emerging market growth and energy demand.
Bank of America Corp., JPMorgan Chase & Co. and three other banks agreed to pay $25 million to New York to resolve some monetary claims over the use of a mortgage database after reaching a $25 billion national settlement over foreclosure practices.