GE details charges for Japan loan, subprime exits

Written by:
Subscribe to Oneindia News

BOSTON, Nov 3 (Reuters) General Electric Co took 3 million in third-quarter after-tax losses related to its exit of the Japanese personal loan and U.S. subprime mortgage businesses, the company disclosed in a U.S. regulatory filing on Friday.

The U.S. conglomerate in October reported a 13.8 percent rise in third-quarter profit, at the time reporting total restructuring charges for the quarter.

The company said in a filing with the U.S. Securities and Exchange Commission that it took an after-tax loss of 0 million related to its Japanese lending business and a million after-tax loss related to the WMC Mortgage subprime unit. GE aims to sell both those businesses.

Reuters PBB GC0428

Please Wait while comments are loading...