Swiss firm to buy GE unit for $2.6B

Swiss engineering firm ABB Group agreed to buy General Electric’s circuit breaker and other electrical equipment unit for $2.6 billion.

New GE Ceo John Flannery already pledged to cut costs, and he's said to be reviewing each of the company's businesses.

Zurich-based ABB will be able to use the GE unit, dubbed GE Industrial Solutions, to broaden its electrification business globally.

Read more from The New York Times.