Immelt bows out of GE with 59pc fall in profits

General Electric’s chief executive blamed a “slow-growth, volatile environment” as he unveiled a 59pc drop in second-quarter profits in his last results presentation at the US manufacturing giant. Jeff Immelt said the company would update its 2018 targets in November, when John Flannery, the new CEO, will be four months into his job at the maker of power plants, jet engines and medical scanners.