Storied General Electric to split into 3 public companies
CBSN
General Electric, once one of the most widely held stocks in America by individual investors, will divide itself into three public firms focused on aviation, health care and energy.
Founded in 1892 in part by storied inventor Thomas Edison, GE never fully recovered from the heavy damage it suffered during the financial crisis more than a decade ago. The last of the original members of the Dow Jones Industrial Average, it was removed from the index in 2018.
GE refashioned itself in recent years from the sprawling conglomerate created by Jack Welch in the 1980s to a much smaller and focused entity.
Secretary of State Marco Rubio is expected to testify in federal court Tuesday in the ongoing criminal trial of former Florida Congressman David Rivera, who is accused of secretly lobbying for the Venezuelan government during the first Trump administration.
A U.S. Park Police officer was seriously wounded Monday evening in a shooting in Washington, law enforcement officials said.
A large explosion at a Valero oil refinery near the Texas Gulf coast Monday shot plumes of smoke into the air and forced some nearby residents to shelter in place. In:
The Defense Department said Monday it will remove media outlets' office spaces from the Pentagon after a federal judge sided with The New York Times in a lawsuit challenging limits on reporters' access to the building. In:
Washington — The Senate confirmed Markwayne Mullin as secretary of the Department of Homeland Security on Monday, finalizing President Trump's shakeup of DHS following months of scrutiny of Kristi Noem's leadership.
A civil jury in California found Monday that Bill Cosby was liable for drugging and sexually assaulting a woman in 1972 and awarded her $19.25 million. In:
With nearly 40% of TSA employees at George Bush Intercontinental Airport calling out as the partial government shutdown drags into a sixth week, Houston has a problem. In:
House Republicans announced Monday that Congress will mount an investigation into "rampant hospice fraud," alleging that potentially tens of millions in taxpayer funds may have been lost in improper payments to Southern California companies. In:
Polymarket is moving to quash insider trading as prediction markets face scrutiny over whether some users draw on classified or other closely held information to gain an edge in betting on events. Edited by Alain Sherter In:
Washington — Senate talks aimed at ending the 38-day shutdown of the Department of Homeland Security hit a new roadblock on Monday after President Trump called on Republicans to hold out for passage of an elections bill that Democrats strongly oppose. Nikole Killion contributed to this report.
Pope Leo XIV put the Rev. Edward Joseph Flanagan a step closer to possible sainthood Monday as he proclaimed the "heroic virtues" of the founder of Boys Town, a Nebraska home for at-risk youths that gained national renown and inspired an Oscar-winning biopic performance. In:
Washington — Amid Trump administration demands for Tehran to keep the free flow of commerce in the Strait of Hormuz, U.S. officials have told CBS News that there are at least a dozen underwater mines through the vital passageway, according to current American intelligence assessments. Arden Farhi, Kathryn Watson, Caroline Linton, Aimee Picchi and Layla Ferris contributed to this report.
Elon Musk, famously a man with big ideas, is building a semiconductor plant vast enough to power those ambitions. Edited by Alain Sherter In: