Russell Wilkerson News
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General Electric Co. hired insurance industry investment banker Eric Solash for its global operations group, where he will help infrastructure customers raise financing from sources besides banks.
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General Electric Co., whose Connecticut headquarters is about 35 minutes by car from the site of the Newtown school massacre, said it tightened rules against providing consumer financing to firearms retailers.
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General Electric Co. distanced itself from a report that it might consider spinning off the finance unit, a move that would eliminate the source of half its profit.
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General Electric Capital Services was sued by a former executive who claims he was forced out for questioning the company’s treatment of an asset.
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General Electric Co. ’s finance arm is marketing $2 billion of subordinated debt for the first time since 2005 as it prepares to be regulated by the Federal Reserve.
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MetLife Inc. agreed to sell most of its bank’s deposits to General Electric Co. as the largest U.S. life insurer seeks to limit oversight by the Federal Reserve.
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Three former bankers with a General Electric Co. unit that sold investment contracts to state and local governments were indicted for conspiring to profit at taxpayers’ expense by rigging bids, showing the broadening scope of a Justice Department investigation of municipal finance.
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The Federal Reserve gave more support to the world’s biggest financial companies, including Barclays Plc , Citigroup Inc. and Royal Bank of Scotland Plc, than the direct loans it disclosed this month in response to congressional mandates.
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The U.S. Securities and Exchange Commission said bankers may be donating illegally to state and local politicians who hire them to underwrite bond deals.
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JPMorgan Chase & Co., the biggest U.S. bank by assets, reached a preliminary agreement to pay $110 million to settle litigation saying it gouged customers on overdraft fees for checking accounts, court records show.
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