Our own Conglomerate on the Channel to sell, spin off more pieces

Kieran Murphy, the head of GE's health-care services unit, sent the memo to employees at 5:55 a.m.: GE will be spinning off GE Healthcare as its own company and will sell its stake in an oil-services concern. The new $20-billion health-care company, which makes a variety of diagnostic and drug-delivery products for hospitals around the world, will morph into an independent concern over 12 to 18 months.

GE now gets to concentrate on renewable energy, power and aviation products.