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VOL. 129 | NO. 140 | Monday, July 21, 2014

GE Targets Late July for Credit Card IPO

AP

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NEW YORK (AP) – General Electric is targeting late July for the initial public offering of its credit card business, named Synchrony Financial.

The announcement Friday, which was included in the company's second-quarter earnings report, is the first step in GE's exit from that line of business.

General Electric Co. is trying to become a more focused industrial conglomerate by shedding other divisions such as NBC Universal, real estate and some banking operations.

It said that it's on track to meet its goal of $1 billion or more in structural cost-out for the year, with $382 million of cost-out through the first half of 2014.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 74 312 15,378
MORTGAGES 125 389 20,168
FORECLOSURE NOTICES 23 109 3,995
BUILDING PERMITS 431 872 36,714
BANKRUPTCIES 54 232 14,575
BUSINESS LICENSES 9 64 5,193
UTILITY CONNECTIONS 71 312 22,129
MARRIAGE LICENSES 10 83 4,746

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