Today: 13.12.2017
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GE is axing 12,000 workers in its power business.

General Electric is axing 12,000 jobs at its global power business, the struggling industrial conglomerate’s latest effort to shrink itself into a more focused company. The US company launched the cuts to save $1 billion in 2018, saying it expected dwindling demand for fossil fuel power plants to continue. “Traditional power markets including gas and...
Time: 11:10     Date: 07.12.2017
Last US Business News: GE is axing 12,000 workers in its power business. NY Post 24 - US News

The US company launched the cuts to save $1 billion in 2018, saying it expected dwindling demand for fossil fuel power plants to continue.

“Traditional power markets including gas and coal have softened,” GE said.

Rumors of sweeping job cuts were confirmed by labor union sources on Wednesday, with staff in Switzerland and Germany among those badly hit.

“This decision was painful but necessary for GE Power to respond to the disruption in the power market, which is driving significantly lower volumes in products and services,” said Russell Stokes, head of GE Power.

“Power will remain a work in progress in 2018. We expect market challenges to continue, but this plan will position us for 2019 and beyond.”

New GE Chief Executive John Flannery last month outlined plans to shrink GE’s sprawling empire of businesses built up by predecessors Jeff Immelt and Jack Welch, whose strategy was based on spreading risk across a broad range of industries.

GE has previously said it would exit its lighting, transportation, industrial solutions and electrical grid businesses. It also plans to ditch its 62.5-percent stake in oilfield services company Baker Hughes.

In Thursday’s layoffs, nearly a third of the company’s 4,500-strong Swiss workforce could be cut, while 16 percent of staff in Germany are also likely to be axed.

In Britain, around 1,100 position will be affected, the company said. Globally GE employed 295,000 people worldwide at the end of 2016, according to the company website.

Business

Last US Business News: T-Mobile plans to launch its own TV service next year. NY Post 24 - US News
T-Mobile plans to launch its own TV service next year.
T-Mobile US will launch a new television service in 2018 and acquire television technology company Layer3 TV for an undisclosed...
Last US Business News: Two companies will hoover up half of tech’s profits in 2018. NY Post 24 - US News
Two companies will hoover up half of tech’s profits in 2018.
On the whole, tech giants are poised to deliver “stable” revenue and profit in 2018, but Apple and Microsoft are expected...
Last US Business News: Apple spends $390 million to build iPhone chip plant in Texas. NY Post 24 - US News
Apple spends $390 million to build iPhone chip plant in Texas.
Apple said on Wednesday it would invest $390 million in Finisar, which it will use to build out a plant in Texas to make...
Last US Business News: Tycoons battle over kids’ $37K a month child support payments. NY Post 24 - US News
Tycoons battle over kids’ $37K a month child support payments.
A California investor on Tuesday lost a bid to lower support payments to his ex-wife after she claimed she needed $37,500...

Opinion

Last US News - Opinion: Roy Moore needed to lose — but what does it mean for 2018?. NY Post 24 - US News
Roy Moore needed to lose — but what does it mean for 2018?.
America dodged a bullet in Alabama last night. A man who was twice removed from his state’s Supreme Court for defying judicial...
Last US News - Opinion: America could learn from Israel’s proud patriotism. NY Post 24 - US News
America could learn from Israel’s proud patriotism.
Here’s my favorite joke from a week in Israel. What’s the difference between secular, liberal Jews and Donald Trump?...
Last US News - Opinion: Ugly as Mueller’s investigation may look, it’s on track to clear Trump. NY Post 24 - US News
Ugly as Mueller’s investigation may look, it’s on track to clear Trump.
There was a rush to judgment last week on Peter Strzok, a top FBI counterintelligence agent and one of the lead agents on...
Last US News - Opinion: GOP tax bills aim to derail the green-power gravy train. NY Post 24 - US News
GOP tax bills aim to derail the green-power gravy train.
Commentators, as well as congressional Democrats, have criticized the Republican tax bill for being rushed through the House...
Last US News - Opinion: Economics are practically irrelevant in this tax-bill debate. NY Post 24 - US News
Economics are practically irrelevant in this tax-bill debate.
Will the tax-reform effort be the Republican Party’s version of ObamaCare? I don’t know, and neither does anyone else....

Living

US Living News: These Type A personality traits could help you live a very long life. NY Post 24 - US News
These Type A personality traits could help you live a very long life.
The stubborn survive — and thrive. New research links some Type A personality traits, like having a strong work ethic...
US Living News: ‘I Want a Hippopotamus for Christmas’ singer gets her wish, 60 years later. NY Post 24 - US News
‘I Want a Hippopotamus for Christmas’ singer gets her wish, 60 years later.
OKLAHOMA CITY — Oklahoma City native Gayla Peevey has welcomed another hippopotamus to the city’s zoo, more than 60 years...
US Living News: How to hide your holiday hangover from your boss. NY Post 24 - US News
How to hide your holiday hangover from your boss.
There’s nothing joyous about facing up to work after a few too many festive bubblies. But just because you feel hungover,...
US Living News: It really does take longer for men to recover from viruses, colds. NY Post 24 - US News
It really does take longer for men to recover from viruses, colds.
The so-called “man flu” has been a punchline for decades, but according to one expert it may be time to stop taking it...
US Living News: Teen saves family bakery from closing with viral tweet. NY Post 24 - US News
Teen saves family bakery from closing with viral tweet.
A viral tweet has managed to save a Houston-area bakery from shutting its doors. Trinidad Garza has been baking since he...
US Living News: Baby boy’s stomach ‘tumor’ turns out to be parasitic twin. NY Post 24 - US News
Baby boy’s stomach ‘tumor’ turns out to be parasitic twin.
Medics operating to remove a “tumor” from a baby were astonished to discover it was actually the child’s...
US Living News: More than one-third of US soccer fans are homophobic: study. NY Post 24 - US News
More than one-third of US soccer fans are homophobic: study.
At least a third of American soccer fans are homophobic — more than Mexico and the United Kingdom, according to a study...
US Living News: Doctor helps former patient deliver baby at gas station. NY Post 24 - US News
Doctor helps former patient deliver baby at gas station.
A routine trip to the gas station wound up turning into a work adventure for one obstetrician on Friday, as he helped a former...

Business

Last US Business News: T-Mobile plans to launch its own TV service next year. NY Post 24 - US News
T-Mobile plans to launch its own TV service next year.
T-Mobile US will launch a new television service in 2018 and acquire television technology company Layer3 TV for an undisclosed...
Last US Business News: Two companies will hoover up half of tech’s profits in 2018. NY Post 24 - US News
Two companies will hoover up half of tech’s profits in 2018.
On the whole, tech giants are poised to deliver “stable” revenue and profit in 2018, but Apple and Microsoft are expected...
Last US Business News: Apple spends $390 million to build iPhone chip plant in Texas. NY Post 24 - US News
Apple spends $390 million to build iPhone chip plant in Texas.
Apple said on Wednesday it would invest $390 million in Finisar, which it will use to build out a plant in Texas to make...
Last US Business News: Tycoons battle over kids’ $37K a month child support payments. NY Post 24 - US News
Tycoons battle over kids’ $37K a month child support payments.
A California investor on Tuesday lost a bid to lower support payments to his ex-wife after she claimed she needed $37,500...
Last US Business News: Resort claims guest’s ‘conduct’ led to her own sexual assault. NY Post 24 - US News
Resort claims guest’s ‘conduct’ led to her own sexual assault.
A luxury Mexican resort is taking a strange approach in defending itself against a lawsuit claiming its negligence caused...
Last US Business News: Facebook fires back at former exec who says it’s ‘ripping apart’ society. NY Post 24 - US News
Facebook fires back at former exec who says it’s ‘ripping apart’ society.
Facebook is hitting back at a former executive who blasted the company for “ripping apart the social fabric.” Chamath...
Last US Business News: Bitcoin exchanges get slammed by website outages. NY Post 24 - US News
Bitcoin exchanges get slammed by website outages.
Digital currency exchange operators Coinbase and Bitfinex reported problems with service through their websites on Tuesday,...
Last US Business News: Sexual misconduct costs companies millions. NY Post 24 - US News
Sexual misconduct costs companies millions.
Sexual misconduct has proven to be very costly for individuals’ reputations and careers in 2017, from Matt Lauer to Harvey...

Metro

Metro News: Port Authority ‘bomber’ tried brainwashing his wife: officials. NY Post 24 - US News
Port Authority ‘bomber’ tried brainwashing his wife: officials.
Alleged Port Authority bomber Akayed Ullah was influenced by the sermons and writings of a radical Muslim preacher —...
Metro News: Schumer goes to police about bogus sexual harassment complaint. NY Post 24 - US News
Schumer goes to police about bogus sexual harassment complaint.
Sen. Charles Schumer said Tuesday he’s gone to the Capitol Police about a bogus sexual-harassment complaint that has been...
Metro News: Scourge of savage MS-13 spreads from Suffolk to Nassau’s tony North Shore. NY Post 24 - US News
Scourge of savage MS-13 spreads from Suffolk to Nassau’s tony North Shore.
On West Greenwich Avenue in Roosevelt, LI, the oak trees were just thick enough to hide Angel Soler’s mutilated body. The...
Metro News: De Blasio denies approving gift cards for criminal suspects who took survey. NY Post 24 - US News
De Blasio denies approving gift cards for criminal suspects who took survey.
Mayor de Blasio wasn’t in the room to offer a Dunkin’ Don’t. Hizzoner said Tuesday he didn’t preapprove a city-funded...
Metro News: Boyfriend who allegedly forced girlfriend to walk street naked says it was consensual. NY Post 24 - US News
Boyfriend who allegedly forced girlfriend to walk street naked says it was consensual.
The jealous creep who forced his girlfriend to walk naked through Harlem claimed on the stand Tuesday that she agreed to...
Metro News: Terrorist wannabe teamed up with Chelsea bomber in jail: feds. NY Post 24 - US News
Terrorist wannabe teamed up with Chelsea bomber in jail: feds.
The Bronx terrorist-wannabe who watched ISIS decapitation videos when he worked out — to keep himself “motivated” —...
Metro News: Good Samaritan who intervened in couple’s fight thrown off bridge. NY Post 24 - US News
Good Samaritan who intervened in couple’s fight thrown off bridge.
DERBY, Conn. — Connecticut police say a man threw another man 45 feet off a bridge because he intervened in an argument...
Metro News: NY Assembly GOP leader announces run for governor. NY Post 24 - US News
NY Assembly GOP leader announces run for governor.
ALBANY — Assembly GOP leader Brian Kolb announced Tuesday that he’s running for governor next year. Kolb has...

Sport

Last US Sport News: What it’s like to watch the life, death of Billy Martin — with his son. NY Post 24 - US News
What it’s like to watch the life, death of Billy Martin — with his son.
LAKE BUENA VISTA, Fla. — OK, so maybe it wasn’t quite like watching “Star Wars: The Last Jedi” with Mark Hamill....
Last US Sport News: Where the Lakers are drawing the line with LaVar Ball. NY Post 24 - US News
Where the Lakers are drawing the line with LaVar Ball.
Trump? Fine. Women? Attack away. UCLA, Chino Hills High? Go for it. But the Lakers are trying to clamp LaVar Ball’s...
Last US Sport News: Michael Pineda gets another $10 million chance. NY Post 24 - US News
Michael Pineda gets another $10 million chance.
MINNEAPOLIS — The Minnesota Twins have signed former Yankees starting pitcher Michael Pineda, giving a two-year, $10 million...
Last US Sport News: Yankees engage Diamondbacks on ideal infield fit. NY Post 24 - US News
Yankees engage Diamondbacks on ideal infield fit.
LAKE BUENA VISTA, Fla. — The Yankees have spoken to the Diamondbacks about Patrick Corbin. But not just Patrick Corbin....
Last US Sport News: Mets will have to convince Ian Kinsler to accept trade. NY Post 24 - US News
Mets will have to convince Ian Kinsler to accept trade.
LAKE BUENA VISTA, Fla. — The Mets’ first choice at second base may be Ian Kinsler, but all that matters if a trade...