GE sees 2016 growth despite global turmoil

NEW YORK CITY: General Electric (GE) said over the weekend that it expects firm growth in its global industrial business in 2016 despite economic turmoil and the deep oil sector contraction.

GE said its sweeping restructuring, including the spinoff of its Synchrony banking arm and sale of GE Appliances, and the acquisition of the power generation arm of France’s Alstom, have left it well-poised for the coming year with a $315 billion backlog of orders.