Showing posts with label \GENERAL ELECTRIC GE. Show all posts
Showing posts with label \GENERAL ELECTRIC GE. Show all posts

Thursday, 30 August 2018

Weak El Nino conditions likely next month, says IMD weather report

El Niño

The southwest monsoon, which has been relatively quiet during the week that ended on August 29, isn't expected to show a big improvement in the next fortnight, with rainfall activity likely to be below normal from the second week of September. In its latest weather update, the India Meteorological Department (IMD) said that there was possibility of development of weak El Niño conditions in the last part of the four-month monsoon season, which began from June. Overall, the monsoon till August 30 has been 6 per cent less than normal, with several districts of north interior Karnataka, Rayalaseema, Bihar, Jharkhand, Saurashtra and Kutch staring at a shortfall. The rainfall, according to agriculture ministry officials, has been well-distributed, though overall quantum might have been low in some regions. This they said won’t have any impact on the overall production of kharif crops in 2018, which is poised for another record. On Tuesday, India said its overall foodgrains production in 2017-18 (July to June) was at an all-time high of 284.83 million tonnes, almost 2 per cent more than the last estimate that came in June, and 9.72 million tonnes more than 2016-17. The rise, however, hasn’t been beneficial for the growers because price of several commodities particularly pulses slumped due to bumper harvest.

Wednesday, 6 December 2017

General Electric to cut 4,500 jobs in Europe: Source

The logo of General Electric is pictured at the 26th World Gas Conference in Paris, France

General Electric Co plans to cut 4,500 jobs in Europe, the first numbers to emerge on layoffs from the US industrial conglomerate since it outlined plans to restructure and shed units last month.

The cuts, which are linked to businesses GE bought from France's Alstom in 2015, will affect employees in Switzerland, Germany and Britain, said French newspaper Les Echos, which first reported the news on Tuesday.

A labor union source confirmed the layoff numbers to Reuters on Wednesday and said an official announcement was expected as early as Thursday.

GE did not confirm the numbers but said it was "reviewing its operations to ensure the business is best positioned to respond to our market realities and for long-term success." The company had presented a proposal to the European body representing legacy Alstom employees, it added.

Last month, General Electric CEO John Flannery outlined plans to reduce the manufacturing footprint of GE's power business to respond to a sharp fall in demand for fossil fuel power equipment. GE did not specify how many jobs would be cut or where.
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