General Electric Company

Executive pay often resembles a ratchet, only going in one direction: up. Shareholders of General Electric on Tuesday rebelled. Nearly 58% of them voted against top executives' pay for 2020, including $73 million for boss Larry Culp. It's a rare rebuke, richly deserved.

A majority of shareholders at the General Electric Co annual general meeting rejected the pay packages for named executive officers, including CEO Larry Culp, whose compensation for 2020 tallied $73.2 million.

General Electric's cash outflow was smaller than estimated in the first quarter even as its lucrative jet-engine business struggled with the pandemic-led collapse of air travel, driving down company revenue.

General Electric reported a 20% fall in quarterly profit, hit by a slump in demand for aircraft engines as airlines struggle to recover from a pandemic-led collapse in travel.

General Electric Co's turnaround plans looked dead in the water to many last spring when its lucrative jet engine business became another victim of the coronavirus pandemic as global air travel dried up.

The U.S. Court of Appeals for the Federal Circuit on Friday reversed a win for General Electric Co before the Patent Trial and Appeal Board that had invalidated parts of a Raytheon Technologies Corp patent covering an airplane engine.

Billionaire activist investor Carl Icahn's investment firm on Monday named General Electric Co veteran and a former dealmaker, Aris Kekedjian, as its president and chief executive officer.

Former General Electric Co executive Aris Kekedjian will be named chief executive officer of Icahn Enterprises LP, activist investor Carl Icahn told the Wall Street Journal.

Global commodities trader and food processor Cargill Ltd on Tuesday named former General Electric executive Jamie Miller as its chief financial officer.

Rolls-Royce said on Thursday it had extended an exclusive deal to provide engines for the Airbus A350-900 to 2030, cementing its alliance with the European plane maker and deferring a potential challenge from rival General Electric.

Lawyers at Paul, Weiss, Rifkind, Wharton & Garrison have been working double time on high-value transactions as companies make up for last year's coronavirus-crimped deal pipeline.

When Irishman Aengus Kelly got his first job in aircraft leasing in 1996 it was with a firm so down on its luck the American giant General Electric had an option to buy it for one dollar.

The world's two largest aircraft leasing companies are combining to create a new financing giant after Ireland's AerCap finalised a deal worth more than $30 billion to buy the leasing business of General Electric.

General Electric Co on Wednesday reiterated its 2021 forecast and announced a deal to sell its aircraft-leasing business to Ireland's AerCap Holdings NV as part of efforts to pare its debt.

General Electric Co will "over time" sell its stake in a new financing giant, which will be set up following the merger of its aircraft-leasing business with Ireland's AerCap Holdings NV, the company's chief executive told Reuters.

Aircraft leasing is poised for its biggest shake-up in almost a decade as its top two players, AerCap Holdings and General Electric Co's GECAS, discuss a deal to forge an industry titan with more than 2,000 jets, people familiar with the matter said on Monday.

General Electric Co on Wednesday reiterated its forecast to generate $2.5 billion to $4.5 billion in free cash flow this year. (Reporting by Rajesh Kumar Singh; editing by John Stonestreet)

General Electric Co said on Wednesday Ireland's AerCap Holdings NV would acquire its aircraft-leasing business in a deal that will help reduce the company's debt by $30 billion.

A tie-up between leasing giants AerCap and General Electric unit GECAS would reshape global air finance and reunite entities torn apart in one of Ireland's most spectacular corporate collapses three decades ago.