GE soars most since 2009 as new CEO’s rescue plan gains speed

GENERAL ELECTRIC STOCK jumped the most in almost a decade as the new CEO Larry Culp detailed his efforts to reduce the company’s debilitating debt load, fix the ailing power business and ease lingering uncertainties weighing on the shares. The company also announced a deal to settle a Justice Department probe into its defunct subprime-mortgage unit for less than investors had feared. / BLOOMBERG NEWS FILE PHOTO/DANIEL ACKER
GENERAL ELECTRIC STOCK jumped the most in almost a decade as new CEO Larry Culp detailed his efforts to reduce the company’s debilitating debt load, fix the ailing power business and ease lingering uncertainties weighing on the shares. The company also announced a deal to settle a Justice Department probe into its defunct subprime-mortgage unit for less than investors had feared. / BLOOMBERG NEWS FILE PHOTO/DANIEL ACKER
NEW YORK - Larry Culp’s first appeal to General Electric Co. investors didn’t go so well back in October. This time it’s a different story. GE soared the most in almost a decade as the new CEO detailed his efforts to reduce the company’s debilitating debt load, fix the ailing power business and ease lingering uncertainties…

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