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November 14, 2017

GE dims the lights to focus on 3 divisions

NEW YORK (AP) — General Electric slashed its dividend in half and will attempt to vastly narrow its focus to three key sectors — aviation, health care and energy — as the conglomerate with early ties to Thomas Edison considers shedding even its historic lighting business.

The company also pulled back on profit expectations Monday and shares slumped 7.2 percent, their biggest one-day loss since the financial crisis was roiling the stock market in early 2009.


 
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