General Electric ends its run as an industrial conglomerate

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4.5 • 1.4K Ratings

🗓️ 2 April 2024

⏱️ 1 minutes

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Summary

GE completes yearslong breakup as final two divisions trade as separate companies; job openings remain elevated at 8.8 million; millions could lose broadband internet subsides unless Congress acts; officials working to open second temporary channel in and out of Baltimore’s port.

Transcript

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0:00.0	General Electric ends its run as an industrial conglomerate.
0:05.2	I'm Novasafo with the Marketplace Minute.
0:07.6	GE completed its years long breakup today as its aerospace and energy division
0:11.8	started trading as separate companies on the New York
0:14.3	Stock Exchange. Its health care division split off more than a year ago, GE sold its light bulb business
0:19.7	in 2020. The Labor Department's latest survey of job openings and labor turnover shows
0:25.0	little change with openings totaling nearly 9 million historically high.
0:29.2	The number of people quitting also changed little. The Federal Communications Commission says
0:34.2	23 million households are in danger of losing subsidies to help pay for broadband internet
0:39.0	access. The program is running out of money. The White House has asked Congress for another $6 billion,
0:45.0	but lawmakers have not acted. Officials are working to open a second temporary channel
0:49.9	in and out of Baltimore's port, this one for larger vessels, the port's main axis is blocked
0:54.9	by the collapsed Francis Scott Key Bridge.
0:57.7	A fuel barge was the first vessel to pass through an alternate channel yesterday.
1:02.0	I'm Novasafo with a Marketplace Minute.

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