Aug 30, 2013

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Friday Movers: General Electric Co (NYSE:GE) and Ford (NYSE:F)

Friday Movers: General Electric Co (NYSE:GE) and Ford (NYSE:F)

For the first time, Ford (NYSE:F) is producing its Fusion sedan in the US. The firm’s Flat Rock, Mich., facility started making the Fusion on Thursday.

The factory, which is almost 25 miles south of Detroit, made the Ford Mustang sports car ahead of getting a second shift of 1,400 labors to make the Fusion. The 66-acre factory now has 3,100 employees.

Ford Motor Co. had been making almost 250,000 Fusions each year at its facility in Hermosillo, Mexico. But that was not keeping up with demand for the hot-selling midsize sedan, which was restructured last year.

Sales this year were 13 percent higher, to 181,668, till July, turning the Fusion one of the top-selling cars in the country.

General Electric Co (NYSE:GE) intends to divest the US consumer lending operations of its finance wings, GE Capital, as the conglomerate plans to focus on its major industrial operations, the Wall Street Journal declared, referring to people closely related with the issue.

The plan to divest the business that issues store credit cards for 55 million Americans comes amongst doubts regarding the firm’s exposure to banking, the Journal reported.

Starting work to divest the division through an initial public offering is on its way, the newspaper reported.

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