General Electric shares soar on deal

Shares of General Electric (GE) have surged more than 15% after the industrial conglomerate said it would sell its biopharma business to Danaher for $21.4bn (€18.9bn), its first major asset sale under new chief executive Larry Culp.

The deal will provide GE with a much-needed cash infusion as the maker of power plants and aircraft engines struggles to pay off billions of dollars of debt and insurance liabilities.