General Electric is cutting costs and restructuring this year as it tries to improve its GE Power unit and return to positive cash flow next year, says CEO Larry Culp Jr. "I think what we'd like to do is make sure that we're playing on offense both organically and inorganically on a more regular basis," he says.
In a list of recommended changes to the Higher Education Act, the White House submitted a proposal that would cap the amount of federal student loans that can be taken out in a larger plan to cut the cost of higher education. White House adviser Ivanka Trump introduced the proposal at a National Council for the American Worker meeting, but she did not elaborate on what the specific limits would be.
Wall Street's appetite for high-yield debt echoes eagerness for mortgage-backed securities in the runup to the financial crisis, former banker William Cohan writes. He warns of increased corporate loans and potential defaults by risky borrowers, setting off a chain of events that could lead to a crisis.
Major seafood companies and retailers such as ALDI, Ahold Delhaize and Lidl have agreed to cooperate with industry groups to improve the traceability of seafood. The goal is to make traceability a practice that is adhered to throughout the seafood industry.
The digitization of health records in the US was supposed to improve the quality and value of health care by providing real-time access to the information needed to optimize decisions and improve outcomes, but 10 years after legislation fast-tracked the move to EHRs, even the architects of the effort agree the US' $36 billion investment has not delivered as expected. Although nearly all hospitals have EHRs, the systems are difficult to use, interoperability is poor, and an investigation by Kaiser Health News and Fortune has uncovered reports of patient deaths, injuries and close calls tied to software glitches, user error and other problems.
The Facebook Journalism Project Community Network was unveiled Monday to help publishers share ways to cultivate audience relationships and build a community atmosphere. Facebook is accepting grant proposals for community-building activities tied to local news and will cover the cost of the grants.
Sears reached a peak in the 1970s and has spent the decades since working to reinvent itself for changing times, starting with a "socks and stocks" strategy that led the department store to acquire financial services brands like Dean Witter and Discover. Former employees, executives and shoppers look back at all the turnaround strategies Sears has tried since its heyday.
Apple is expanding its tablet lineup with a resurrected iPad Air and updated iPad mini, both equipped with a speedy A12 chip and Apple Pencil support. The iPad Air increased its screen size back to 10.5 inches, works with Apple's Smart Keyboard and costs $499 and up, while the iPad mini's display is 7.9 inches and incorporates True Tone technology, wider color support and 25% more brightness, at a starting price of $399.
AdvaMed and other stakeholders have submitted comments on the FDA's draft guidance on cybersecurity management for premarket submissions, calling for the amendment or elimination of a proposed two-tiered approach to identifying cyberrisk in medical devices. AdvaMed recommends the agency "remove the two-tiered approach in favor of a single risk-based approach that addresses the Agency's cybersecurity expectations based on the exploitability of a device vulnerability and the severity of patient harm (if exploited), as outlined in the Agency's postmarket cybersecurity guidance."
A jury in a US federal court in San Diego ruled that Apple violated three Qualcomm patents in the iPhone 7, 8 and X and awarded Qualcomm $31.6 million in damages. The fight isn't over though since the companies are due back in a San Diego court April 15 in what is expected to be a much more intense face-off over patent licenses and royalties.
US construction spending increased 1.3% in January, the largest gain since last April's 1.7% jump, the Commerce Department reported. While residential construction declined for the sixth consecutive month, nonresidential construction spending was up 0.8%, and government construction rose 4.9%.
Speaking at CERAWeek in Houston, Secretary of State Mike Pompeo called on the oil and natural gas industry to assist the US in using its energy riches to reduce the geopolitical influence of China, Russia and Iran, as well as promote American values such as free trade and democracy. "The more we can spread the US model of free enterprise, of the rule of law ... the more successful the US will be," Pompeo said.
Alaska Airlines has a history of using technology to enhance the passenger experience, from being the first to implement kiosks and mobile check-in to offering inflight Wi-Fi and virtual reality experiences. "We know that our travelers care very much about technology, so we're looking at ways to be creative," said Annabel Chang, vice president for the Bay Area at Alaska Airlines.
Marriott and Ian Schrager have opened the Times Square Edition, the second Edition property in New York. Edition has a total of nine hotels with 18 more on the way.
