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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 This material may not be published, broadcast, rewritten or redistributed.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 85 296 9,112
MORTGAGES 100 394 12,246
FORECLOSURE NOTICES 21 98 2,526
BUILDING PERMITS 423 960 20,801
BANKRUPTCIES 66 261 7,887
BUSINESS LICENSES 19 77 3,301
UTILITY CONNECTIONS 164 515 11,538
MARRIAGE LICENSES 21 114 2,782

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