French authorities will fine General Electric for creating a small number of new jobs, contrary to promises. As part of the deal with Alstom, GE was supposed to create a thousand new jobs in three years, but opened only 25, according to French Finance Minister, Bruno Le Maire. The company bought Alstom's energy business for $17 billion in 2016. Now, 16 thousand people work in the French branch of the company. Since the deal was concluded, demand for GE and Alstom products has declined. General Electric changed two executives in three years and lost a third of capitalization in 12 months. Earlier, GE mentioned its intention to cut staff by 12,000 in the energy business.
Hyundai considers expansion with another electric auto startup11.02.2020
Dollar peaks on strong US jobs stats and global virus concerns28.12.2019
Turkish electric car project seen at an investment of $3.7 billion19.12.2019
Dollar rallies on Trump impeachment, Aussie follows trend on strong jobs record