HARTFORD, Conn. : General Electric Co., whose shares have been battered by anxiety over the health of its big loan and lease business, lowered its earnings forecast yesterday, saying the unit's profits were falling and that it was taking action to bolster its reserves. The moves were prompted by "unprecedented" weakness and volatility in the markets, GE said. GE Capital, the company's financial business that provides consumer and real estate financing, and corporate lending and leasing, has been caught in the downdraft hurting financial stocks. The unit provides nearly half of GE's profit.
Associated Press
30-year mortgages rise after weeks of decline
