GE sacks its boss

TROUBLED General Electric has ousted its chief executive John Flannery after a year in the job.

The 56-year- old had promised to revamp the sprawling industrial conglomerate – which covers healthcare, transport, aviation and finance, among other sectors – by selling businesses and cutting jobs, but the board was frustrated at the slow pace in change. Profits will be lower than expected for 2018 due to the ongoing weakness of its power business, which has been hit by a slump in demand for gas turbines. It expects to write-down about £17.5bn on the power business.