Purchase to significantly increase Capital One's presence in credit and loyalty market
TORONTO, - Capital One Canada and GE Capital Retail Finance, the North American consumer lending unit of General Electric Company (NYSE:GE), today announced a definitive agreement under which Capital One Canada will acquire and service GE Capital's Hudson's Bay Company credit card portfolio and related assets, with outstanding receivables of approximately $1.3 billion.
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- Will oversee GE's non-U.S. operations with focus on high-growth markets
- More integrated local teams and intense market focus will accelerate GE global growth
FAIRFIELD, Conn. -- Nov. 8, 2010 -- The General Electric (NYSE: GE) Board of Directors has named John G. Rice to lead the company's global operations. Rice, a GE vice chairman since 2005, will be in charge of GE's growth outside the United States. Rice will relocate to Hong Kong and his appointment is effective Jan. 1, 2011.
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GE's international venture capital specialists in healthcare and clean tech (energy, power and water) are meeting at MaRS to explore partnership opportunities with Ontario based start-up companies on November 2, 2010. MaRS is coordinating meetings between 16 clean tech and healthcare companies, which will meet one-on-one with GE's VC specialists. MaRS CEO Ilse Treurnicht will also host a panel discussion with GE's VC experts focused on partnership strategies and opportunities for Canadian companies. This is the first time GE's global VC team has met with companies in Ontario.
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Third Quarter Earnings
GE announced third-quarter 2010 earnings from continuing operations (attributable to GE) of $3.2 billion, with EPS of $0.29 per share up 32% from the third quarter of 2009.
Please click here to read the rest of the press release, in English.
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GE last call on Canada's leading innovators to submit ideas for the next generation power grid before September 30th deadline.
Using fitness equipment from around the world to generate energy to the grid and donate it to third world countries is just one of the innovative ideas being put forward by a Canadian innovator and entrepreneur as part of the 'GE ecomagination challenge' -- a global competition launched in San Francisco in July.
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ATLANTA, GA.---Sept. 9, 2010---The Hydrogen Assisted Renewable Power (HARP) project in Bella Coola, British Columbia is now officially installed and operational. This state-of-the-art energy storage project securely powers the remote community of Bella Coola with less environmental impact.The HARP system is expected to reduce Bella Coola's annual diesel consumption by 200,000 litres -- lowering greenhouse gas emissions by 600 tons annually.