News An RAF Apache helicopter

Helicopter-maker AgustaWestland has been awarded two Ministry of Defence contracts worth £760 million which will secure more than 1,000 jobs in the UK.

GE faces claim over Blue Wings

A High Court judgment yesterday opened the way for General Electric (GE) to face a multimillion-pound compensation claim over the collapsed German airliner Blue Wings.

Path of radioactive water leak at Japan plant unclear

Workers used a milky white dye today as they frantically tried to trace the path of highly radioactive water gushing near Japan's tsunami-damaged nuclear plant and seeping into the ocean.

'Suicide squads' paid huge sums amid fresh fears for nuclear site

The radioactive core in one reactor at Fukushima's beleaguered nuclear power plant appeared to have melted through the bottom of its containment vessel, an expert warned yesterday, sparking fears that workers would not be able to save the reactor and that radioactive gases could soon be released into the atmosphere.

Reactor crisis wipes £7.4bn from General Electric

The unfolding crisis at the Fukushima Daiichi nuclear plant has put a harsh spotlight on General Electric, the giant US conglomerate which built parts of the plant and which had been hoping to benefit from a renaissance in nuclear power that now looks to be on hold.

Japan prepares to restart work at nuclear plant

Surging radiation levels forced Japan to order emergency workers to temporarily withdraw from its crippled nuclear plant today, losing time in a desperate operation to cool the overheating reactors — the most urgent crisis from last week's devastating earthquake and tsunami.

Panic over Japan triggers market turmoil

World markets suffered a dramatic series of losses yesterday, with fears of a potential nuclear disaster in Japan hitting stock, metal and oil prices.

GE strikes $2.8bn deal for John Wood unit

The oil services group John Wood has struck a deal to offload its well support unit, netting $2.8bn by selling the division to the US industrial giant General Electric.

Obama challenges American businesses to 'get in the game'

President Barack Obama yesterday threw down a challenge to American business to "get in the game" and start spending some of the $2 trillion (£1.2trn) sitting on corporate balance sheets to create new jobs and boost the sluggish national economy.

Obama speech marks new path to 2012 election

The President has had a bump in the polls, with approval rates above 50 per cent

Hamish McRae: Asia's latest growth spurt highlights the gulf between the 'old' world and the 'new'

Economic Life: If you want to get a feel for the changing relationship between the two worlds, look at the photos from President Hu Jintao's visit to the US

Confident tech sector set to boost employment

Hi-tech manufacturers are Britain's most confident companies, research reveals today, with almost half planning recruitment sprees this year.

GE pays £785m for Wellstream

General Electric is to buy UK oil and gas services group Wellstream Holdings for £785m. After two earlier rejections, Wellstream – which employs more than 850 people – yesterday finally accepted the US giant's increased bid of 780p per share plus a £6m special dividend for Wellstream shareholders. The group will be integrated into GE's existing Oil & Gas division, which focuses on surface and sub-sea drilling systems. Wellstream is one of the world's largest makers of flexible pipes for the oil industry. GE was also attracted by its strong presence in Brazil, which is a fast-growing market helped by a slew of discoveries in the Santos Basin. GE was not the only company sniffing around Wellstream. Rivals bidders for the UK group included National Oilwell Varco.

Pfizer chief executive in shock retirement from 'demanding' job

The chief executive of Pfizer stepped down unexpectedly yesterday, blaming exhaustion from the "extremely demanding" job and relishing the opportunity to "recharge" his batteries.

Johann Hari: The real reason Obama has let us all down

On the night he won, I too shed a little tear; but the people weeping today are those having their homes repossessed

Wellstream spurns £755m takeover offer from GE

The oil industry services group Wellstream Holdings has rejected a £755m bid from giant US conglomerate General Electric.

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