General Electric Co. lowered its 2018 profit outlook Wednesday and said it has no intention of selling down its majority stake in oil services firm Baker Hughes before 2019, a shift from its previous exploration of exiting the business. GE combined its struggling oil and gas business with Baker Hughes last year to form a new public company. As part of a major restructuring of the industrial giant, new Chief Executive John Flannery said in November that he would explore selling the stake before restrictions lift in 2019.

Source: Wall Street Journal February 21, 2018 17:36 UTC