Wells Fargo

Report: Wells Fargo bidding for GE Capital

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Wells Fargo has emerged as a bidder for GE Capital’s commercial lending and leasing operations, according to a report in the Wall Street Journal that did not identify its sources. Last week, Fairfield-based General Electric announced plans to sell off the bulk of Norwalk-based GE Capital, starting with the $26.5 billion sale of GE Capital […] [Read More]
Categories: General
Emirates A380

Reports: GE, P&W miss $9.2B contract

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General Electric and Pratt & Whitney lost out on a $9.2 billion contract to rival Rolls-Royce, which will manufacturer 200 engines for use on 50 Airbus A380 passenger jets on order by Emirates Airline. Rolls-Royce stated it was the biggest order in its history. Via their Engine Alliance joint venture, GE Aviation and Pratt & […] [Read More]
Categories: General
CH-53K

Report: first flight delayed for Sikorsky chopper

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  A gear box issue will delay further Sikorsky Aircraft’s first flight of the CH-53K, which will now not occur until at least July according to a U.S. Navy rear admiral cited by IHS Jane’s 360. In a potential $23 billion contract, the U.S. Marine Corps hopes to field 200 CH-53K King Stallions as replacements […] [Read More]
Categories: General
Charter

Report: DOJ balks at cable megamerger

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In a development with potential ramifications for Charter Communications, the U.S. Department of Justice could move to block Comcast’s proposed $45 billion acquisition of Time Warner Cable, Bloomberg reported. The Wall Street Journal reported Sunday that Comcast and Time Warner executives are scheduled to meet Wednesday with Department of Justice officials on antitrust requirements for […] [Read More]
Categories: General
Frits van Paasschen

Ex-Starwood CEO gets $12m

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Former Starwood Hotels & Resorts Worldwide CEO Frits van Paasschen received $12 million in total compensation last year, with the company describing his departure as a resignation in its annual proxy to shareholders published Friday. Stamford-based Starwood (NYSE: HOT) replaced van Paasschen in mid-February with board member Adam Aron. who had been a Starwood director […] [Read More]
Categories: General
Synchrony

Synchrony steady in Q1

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Synchrony Financial (NYSE: SYF) had net earnings of $552 million in the first quarter, or 66 cents a share, as revenue rose 5 percent from a year ago to $2.6 billion. In the first quarter of 2014, net earnings were $558 million or 67 cents. Stamford-based Synchrony manages retailer credit card and finance programs, announcing […] [Read More]
Categories: General
GE

GE reports $13.6B loss

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UPDATED 9:32 a.m. As it begins the process of selling off GE Capital, Fairfield-based General Electric took a first-quarter loss of $1.35 a share, primarily from GE Capital operations it now lists as discontinued. GE shares (NYSE: GE) were up slightly in early trading Friday to $27.45. In a Friday conference call, General Electric CEO […] [Read More]
Categories: GE, General
Jack Barnes, People's United

People’s United ups Q1 earnings

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People’s United Financial reported net income of $59.2 million in the first quarter, or 20 cents a share, compared to $53.1 million or 18 cents in the first quarter of 2014. Bridgeport-based People’s United (Nasdaq: PBCT)  is the top bank in Fairfield County as ranked by deposits, with more than $7.7 billion in deposits here as […] [Read More]
Categories: General